Lender SEB's Net Interest Income Beats Estimates on Loan Growth
While net interest income in the period shrank nearly 12% from a year ago, to 10.3 billion Swedish kronor ($1.1 billion), it nevertheless exceeded analyst expectations.
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Up 20% This Year, Is Levi Strauss Worth a Look?
Key Points Levi Strauss had strong results for its second quarter. The trends for the company have been rather weak year to year relative to the S&P 500. Given uncertainty over tariffs, and the rapid increase in the share price last week, now might not be the time to get involved. 10 stocks we like better than Levi Strauss & Co. › While I do own its jeans, I don't own Levi Strauss (NYSE: LEVI) stock. The company saw some attention last week when it reported better-than-expected earnings results, in which it raised its guidance for the year. As a result, shares went on an 11% run, bringing total year-to-date gains to over 20% at the time of this writing. The question now becomes: After such a run in the stock price, is there still value here? The second quarter There's a lot to like in Levi's most recent quarter. Sales increased by 5% in the Americas and a strong 14% in Europe, with a 12% increase for Beyond Yoga. The one weak spot for the company was Asia, where sales declined by 1%. Overall, this led to operating margins of 7.5% in the second quarter, compared to margins of 1.5% in the year prior. Net revenues rose 6% for a reported basis, and there was an organic basis increase of 9% versus a year ago. I like the company's balance sheet, which saw stockholders' equity increase to $2.09 billion versus $1.97 billion a year ago. Earnings were substantially better than the year prior. Total net income of $67 million was much better than last year's income of $18 million, and earnings per share are significantly improved. Levi Strauss reported Q2 diluted net income of $0.17 per share, versus earnings of $0.04 per share in 2024. Updated guidance The good news extended to the company's full-year outlook, though I find it slightly less exciting than some do. Net revenue growth is expected to be 1% to 2%, compared to a previous forecast of a decline of 1% to 2%. Organic revenue growth is expected to be up a comparable 1%, to 4.5% to 5.5%. It wasn't all good news, however. Gross margins are expected to expand by 80 basis points, versus a previous estimate of "up to" 100 basis points. The main reasoning for this decline is based on the effect of tariffs. Adjusted diluted earnings per share are expected to increase by $0.05 to $1.25, compared to previous guidance of $1.20. Granted, we're going on an adjusted basis here, but it would give the stock a forward price-to-earnings (P/E) ratio of roughly 16 times full-year earnings. This is a positive, as according to Levi's historical average over the last seven years is 38.11. With that valuation, the stock seems pretty fairly priced for what is happening now. The question is: How badly will tariffs mess things up? This is a very difficult question to answer. For one, we don't always know exactly what President Donald Trump's tariffs will be. They can shift and change as negotiations continue. According to CNBC, what is known is that Levi's sources goods from Pakistan and Bangladesh, both of which Trump has threatened with tariffs of 30% or higher. Levi's noted that it plans to "absorb" as much of the tariffs as it can. It's expecting that tariffs will be a problem of about $25 million to $30 million in 2025, which amounts to $0.02 to $0.03 per share. I always say to err on the side of caution. Who can say for sure how much tariffs will truly end up affecting Levi's sales figures? The last few years haven't been overly inspiring, with the company's overall revenue growth trending downward since its bounce-back in 2021 post-COVID-19. I think this is a stock that should be rated as a "hold" or "sell" if you've already been involved, as there are gains to be taken. This does not seem like a time to add a new position. The stock took off last week, and baked in a lot of what could be expected this year. I credit the company on its stronger results, but historically this is a stock that has big ups, followed by heavy downward drops as demonstrated in this five-year chart. For new buyers, I say keep an eye on this one for any pullbacks that present better opportunities, but don't chase these first-quarter results. The rest of the year might not be that exciting. Should you buy stock in Levi Strauss & Co. right now? Before you buy stock in Levi Strauss & Co., consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Levi Strauss & Co. wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 David Butler has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Up 20% This Year, Is Levi Strauss Worth a Look? was originally published by The Motley Fool Sign in to access your portfolio
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Report – Optimism Grows As Atalanta Forward Wants Inter Milan Move At All Costs
Atalanta star Ademola Lookman reportedly wants to join Inter Milan at all costs amid a standstill in talks between the two clubs. According to Sky Sport Deutschland via FCInterNews, the Nigerian forward is pushing for a transfer to San Siro. Inter and Lookman have already agreed on personal terms. Indeed, the 27-year-old has accepted a multi-year contract worth around €4.5 million net per season. However, Cristian Chivu's men have yet to match Atalanta's request. Inter Milan Optimistic About Signing Ademola Lookman Atalanta's €50m asking price has been an obstacle so far. Despite falling short of La Dea's valuation, Inter's opening €40m bid laid the groundwork for further negotiations. Furthermore, the Nerazzurri hope to bridge the gap by including several performance-related bonuses in the deal. Meanwhile, Cristian Chivu is already making plans for the former RB Leipzig attacker. The diminutive forward will likely play alongside Marcus Thuram behind Lautaro Martinez in a new 3-4-2-1 set-up.
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Microsoft orders more Xbox layoffs, boss Phil Spencer tells staff "our platform, hardware, and game roadmap have never looked stronger" but the fourth big round of layoffs in 18 months is coming anyway
When you buy through links on our articles, Future and its syndication partners may earn a commission. Microsoft has begun a new round of mass layoffs, impacting its gaming division despite Xbox boss Phil Spencer saying that the company's "platform, hardware, and game roadmap have never looked stronger." Whispers of upcoming job cuts were reported by Bloomberg last week, which now writes that employees are being informed today of the plans. Candy Crush developer King is cutting around 200 jobs, affecting roughly 10% of its staff, according to the site's sources. The exact number of layoffs across other offices, such as in the US and the rest of Europe, isn't currently clear. In a statement provided to GamesRadar+ on July 2, a Microsoft spokesperson says: "We continue to implement organizational and workforce changes that are necessary to position the company and teams for success in a dynamic marketplace." While no specifics were provided confirming the number of Microsoft Gaming employees affected by the layoffs, it's stated that roughly 4% of Microsoft's total workforce has been impacted. As of last year, it was estimated that Microsoft employs roughly 228,000 people. Bloomberg also shares an email that was sent to staff by Microsoft Gaming CEO Phil Spencer (posted in full by The Verge), who acknowledges that "these changes come at a time when we have more players, games, and gaming hours than ever before. Our platform, hardware, and game roadmap have never looked stronger." However, he adds that "the success we're seeing currently is based on tough decisions we've made previously," and insists that "we must make choices now for continued success in future years, and a key part of that strategy is the discipline to prioritize the strongest opportunities. "We will protect what is thriving and concentrate effort on areas with the greatest potential, while delivering on the expectations the company has for our business," Spencer continues. "This focused approach means we can deliver exceptional games and experiences for players for generations to come." Spencer adds that "we would not be where we are today without the time, energy, and creativity of those whose roles are impacted," and says those affected are "encouraged to explore open positions across Microsoft Gaming, where their applications will be given priority review." However, as Bloomberg points out, the situation feels particularly dire, given that this is the fourth round of layoffs since January 2024, when almost 2,000 people lost their jobs. After that, there was the closure of studios, including Arkane Austin and Tango Gameworks (the latter of which was later revived by Krafton), followed by the layoff of another 650 people a few months later. The full situation still appears to be unfolding, with more details emerging gradually, as it's also been reported that Everwild, an action-adventure from Rare, has been canceled amidst the layoffs. This article has been updated to include a statement from a Microsoft spokesperson. Solve the daily Crossword
