China's LNG Shipbuilders Defy Slowdown as Record Deliveries Seen
The builders saw income more than double in the first five months of the year, even as industrial profits contracted in an economy strained by higher US tariffs and lingering deflationary pressure. The biggest LNG shipbuilder, the Hudong-Zhonghua shipyard, will deliver 10 tankers by year-end — contributing to a national record — and has an orderbook of 150 billion yuan ($21 billion) for 60 vessels waiting to be delivered by 2031, according to national broadcaster Chinese Central Television.
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25 minutes ago
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Starbucks stock drops after US same-store sales fall for 6th straight quarter
Starbucks (SBUX) reported a sixth straight quarterly drop in US same-store sales on Tuesday as the company continues to grapple with an uncertain consumer environment and its CEO's turnaround efforts. US same-store sales fell 2%, in line with the prior quarter's drop but less than the 2.5% drop that had been forecast. That was driven lower by a 4% decline in comparable transactions. Wall Street expected a sharper 4.5% decline. Starbucks "fixed a lot and done the hard work on the hard things to build a strong operating foundation and based on my experience of turnarounds, we are ahead of schedule," CEO Brian Niccol, who previously led the turnaround at Chipotle, said in the release. Starbucks stock was down about 2% in morning trade on Wednesday; the stock rose as much as 4% in immediate reaction to the results late Tuesday. Shares of Starbucks are roughly unchanged so far this year. Global same-store sales fell 2%, more than the 1.5% decline expected, per Bloomberg data, marking an acceleration from the previous quarter's 1% drop. Same-store sales in China rose 2% against forecasts for a 1.4% rise, driven by beverage innovation. The jump was driven by an increase in transactions, which was offset by a decline in the average ticket as the company lowered prices to compete with rival Luckin Coffee (LKNCY). This marks the second straight quarter of positive growth for its operations in China as the company seeks out a partner in the region. Niccol said Starbucks seeks a local partner that shares the same "belief that there's this opportunity to grow" and can set up the brand long-term. Adjusted earnings per share came in at $0.50, missing forecasts for $0.65 per share. Revenue rose 5% to $9.5 billion, more than the $9.3 billion that had been forecast. Read more: Live coverage of corporate earnings Since joining the company last fall, Niccol has tried to change the fortunes of the coffee chain by cutting staff earlier this year and announcing plans this month to require more staff to be in the office four days per week. The company has also incentivized its management team to more aggressively turn around the business, offering executives performance-based stock grants focused on cutting costs. The company plans to prioritize a cozy coffeehouse atmosphere and move away from pickup-focused experiences for customers. Consequently, Starbucks plans to execute small, targeted renovations of its stores, amounting to approximately $150,000 per location, to bring back the thousands of chairs for patrons it took away. For new locations, Niccol said it was able to cut the build cost by roughly 30% and will introduce a new stand-alone prototype in fiscal 2026 that will have 32 seats and a drive-through. Starbucks is also investing $500 million dollars of additional labor hours in its US stores over the next year. The plan is a part of its new operating model, dubbed Green Apron service, which is set to roll out to US locations by mid-August. CFO Cathy Smith called it "a foundational operating model that establishes the repeatable, consistent, scalable standards that we want and need in customer service." So far, transactions, sales, and customer service times have improved based on a pilot of 1,500 stores in eight weeks, Niccol said. Innovation is a key part of its strategy, too. Protein cold foam, set to hit the menu in the fourth quarter, will include 15 grams of protein with no added sugar. The company is also exploring coconut water-based tea and improved artisanal food options. Since Starbucks was ridiculed over its complex menus, Niccol said its approach to innovation has changed. "This innovation is being co-built with our baristas in our stores, versus we build it in the support center, we throw it over the wall, and we hope that our baristas can figure it out, right?" he said. "Those days are over," he added. "We're going to build it with the field and our baristas in store at the start of the process." The company did not provide official guidance for the year, but Smith said, "We are confident that 2026 will continue to improve" as it rolls out its Back to Starbucks strategy and eyes the return of the coveted Pumpkin Spice Latte next month. She added, "Taking into account that we have a lot in flight, combined with the uncertain consumer environment, we are conservative on how the current year-over-year trends will change in the fourth quarter for the US company-operated business." — Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
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Do You Believe in the Upside Potential of Adient PLC (ADNT)?
Hotchkis & Wiley, an investment management company, released its 'Hotchkis & Wiley Mid-Cap Value Fund' second quarter 2025 investor letter. A copy of the letter can be downloaded here. In the second quarter of 2025, equity market performance experienced significant volatility, primarily due to changes in U.S. trade policies and escalating geopolitical tensions. The fund lagged behind the Russell Midcap Value Index in the second quarter, gaining 3.63% vs 5.35% for the index. Please review the fund's top 5 holdings to gain insight into their key selections for 2025. In its second-quarter 2025 investor letter, Hotchkis & Wiley Mid-Cap Fund highlighted stocks such as Adient plc (NYSE:ADNT). Adient plc (NYSE:ADNT) is a manufacturer of seating systems and components. The one-month return of Adient plc (NYSE:ADNT) was -0.45%, and its shares lost 14.29% of their value over the last 52 weeks. On July 29, 2025, Adient plc (NYSE:ADNT) stock closed at $22.08 per share with a market capitalization of $1.855 billion. Hotchkis & Wiley Mid-Cap Fund stated the following regarding Adient plc (NYSE:ADNT) in its second quarter 2025 investor letter: "Adient plc (NYSE:ADNT), domiciled in England (with corporate offices in Plymouth, MI; Milwaukee, WI; Burscheid, Germany; and Shanghai, China), is one of the world's largest supplier of seating systems and a leading components supplier for automotive interiors. Shares rose over the period on improved earnings and improved sentiment around the potential impact of tariffs. We continue to believe Adient is an attractive company with a leading global position in automotive seating, a market segment that fairs well as the auto industry incorporates more advanced technologies." A carpenter assembling an automotive seating system, using components, frames and mechanisms. Adient plc (NYSE:ADNT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Adient plc (NYSE:ADNT) at the end of the first quarter, which was 25 in the previous quarter. While we acknowledge the potential of Adient plc (NYSE:ADNT) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered Adient plc (NYSE:ADNT) and shared Hotchkis & Wiley Mid-Cap Value Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
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Solid US Economic Reports Boost the Dollar
The dollar index (DXY00) today extended this week's rally and is up by +0.59% at a 2-month high. Signs of strength in the US economy are boosting the dollar today after the July ADP employment change rose more than expected by the most in four months, and Q2 GDP expanded more than expected. Also, short covering is supporting the dollar ahead of the results of today's FOMC meeting, where the Fed is expected to keep interest rates unchanged. The US July ADP employment change rose +104,000, stronger than expectations of +76,000 and the largest increase in four months. Also, the Jun ADP employment change was revised upward to -23,000 from the previously reported -33,000. More News from Barchart Can Platinum Become Rich Person's Gold Again? Dollar Gains on Euro Weakness Over EU-US Tariff Deal Dollar Rallies on Trade Deal Optimism and Positive US Economic News Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. US Q2 GDP rose +3.0% (q/q annualized), stronger than expectations of +2.6%. The Q2 core PCE price index rose +2.5% q/q, stronger than expectations of +2.3% q/q. US Jun pending home sales unexpectedly fell -0.8% m/m, weaker than expectations of a +0.2% m/m increase. In the latest tariff news, President Trump today said he will impose a tariff rate of 25% on India starting August 1 and suggested he would add an additional penalty over the country's energy purchases from Russia. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 2% at today's FOMC meeting and 62% at the following meeting on September 16-17. EUR/USD (^EURUSD) today extended this week's losses and is down by -0.61% at a new 5-week low. Dollar strength today is undercutting the euro. Additionally, the negative carryover from Monday is weighing on the euro, following the announcement of the EU-US trade deal, which was seen as favoring the US, with 15% tariffs imposed on most EU goods. This could pose headwinds to the Eurozone economy due to the higher tariffs. Better-than-expected Eurozone economic news today on Q2 GDP and July economic confidence is supportive of the euro. Eurozone Q2 GDP rose +0.1% q/q and +1.4% y/y, stronger than expectations of unchanged m/m and +1.2% y/y. Eurozone July economic confidence rose +1.6 to a 5-month high of 95.8, stronger than expectations of 94.5. Swaps are pricing in a 13% chance of a -25 bp rate cut by the ECB at the September 11 policy meeting. USD/JPY (^USDJPY) today is up by +0.33%. The yen gave up overnight gains and fell to a 1.5-week low against the dollar after better-than-expected US economic news pushed the dollar higher. Losses in the yen accelerated today after T-note yields jumped. The yen initially moved higher in overnight trading after an 8.8 magnitude earthquake off the eastern coast of Russia prompted a tsunami warning for Tokyo Bay, which sparked some safe haven buying of the yen. The yen continues to be undercut by concerns that the LDP's loss of its majority in Japan's upper house in the July 20 elections may lead to fiscal deterioration in Japan's government finances, as the government boosts spending and implements tax cuts. August gold (GCQ25) today is down -20.00 (-0.60%), and September silver (SIU25) is down -0.481 (-1.26%). Precious metals are sliding today, with silver falling to a 1.5-week low. Dollar strength is undercutting metals prices today after the dollar index jumped to a 2-month high. Also, higher T-note yields are bearish for precious metals. In addition, today's stronger-than-expected US economic reports on July ADP employment and Q2 GDP are hawkish for Fed policy and may keep the Fed from cutting interest rates. Concerns that US tariff policy will undercut global growth are fueling some safe-haven demand for precious metals after President Trump today said he will impose a tariff rate of 25% on India starting August 1 and suggested he would add an additional penalty over the country's energy purchases from Russia. Precious metals continue to receive safe-haven support from geopolitical risks, including the conflicts in Ukraine and the Middle East. On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
