European Earnings Are Pricing in Tariff Risks, Says BlackRock's Jewell
'Earnings numbers have already come down; that's not a complacent market,' Jewell, chief investment officer of fundamental equities EMEA at the asset manager, said in an interview. 'The gains have further to go as long as the European exporters pull their weight.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
5 minutes ago
- CNBC
AstraZeneca CEO doubles down on U.S. amid rumors of listing shift
AstraZeneca CEO Pascal Soriot on Tuesday reiterated the pharmaceutical firm's commitment to the U.S. market amid reports that he is considering shifting its listing stateside. Soriot said the U.K.-listed company had many reasons to be in the U.S., adding that it was "rapidly transferring manufacturing" across the Atlantic so it could serve all U.S. patient needs domestically. "We have lots of reasons to be here [in the U.S.]," Soriot told media during an earnings call. "This country [the U.S.] will represent, we hope, 50% of our revenue by 2030. We have thousands of employees … across the country," he added. AstraZeneca has been doubling down on the U.S. market, saying in its second-quarter earnings report on Tuesday that the country was key to its ambition of delivering $80 billion in revenue by the end of the decade. "We are a global company but we are certainly, very much, present and rooted in the U.S.," Soriot said, noting that it plans to soon become self-sufficient there. The company said last week it plans to invest $50 billion in bolstering its U.S. manufacturing and research capabilities. It marks the latest pharmaceutical firm to ramp up its stateside spending in the wake of U.S. trade tariffs and calls by President Donald Trump to reshore manufacturing. "Our investment is reflecting our belief in the growth of this country. We want to contribute to this," Soriot said, noting that he had met with the Trump administration to discuss growth plans within the sector. "The U.S. really leads in biopharmaceutical innovation these days," he added, criticizing Europe's failure to drive development. "Today, very little comes out of Europe." AstraZeneca, which made international headlines by developing one of the key Covid-19 vaccines, has long been prioritizing the U.S. market. The U.S. accounted for over 40% of the company's annual revenues in 2024. Earlier this month, The Times reported that the firm may move its listing from London to the U.S., in what analysts said would be a major blow to the U.K.'s public markets. AstraZeneca at the time declined to comment on the report. However, chief financial officer Aradhana Sarin said Tuesday that the company remains "committed" to the U.K. It comes as AstraZeneca posted better-than-expected second-quarter earnings on Tuesday, driven by demand for key cancer and biopharmaceutical products. The Anglo-Swedish pharma firm posted revenues of $14.46 billion over the three-month period to June 30, ahead of the $14.07 billion estimated by analysts in an LSEG poll. Quarterly adjusted core operating profit came in at $4.58 billion versus $4.48 billion anticipated. The FTSE 100 company maintained its full-year forecast for revenues to rise by a high single-digit percentage and core earnings per share to increase by a low double-digit percentage. It comes as the European pharmaceutical sector is facing anticipated levies of 15% on imports to the U.S. as part of a broader EU-U.S. trade deal. Analysts warned that the tariffs, if levied at 15% or above, could hamper European firms and the bloc's broader economy. AstraZeneca nevertheless suggested in April that it would maintain its 2025 sales guidance if U.S. tariffs on European pharma products came in in line with those levied against other sectors. "This issue of tariffs is not really an issue that is affecting us very much," Soriot said.
Fast Company
5 minutes ago
- Fast Company
Figma's IPO date is close. The stock could trade even higher after the design startup's latest move
Collaborative design software company Figma has increased the price target for its highly anticipated initial public offering (IPO). Shares are now expected to be priced between $30 and $32 each, up from the previously disclosed price target range of $25 and $28 each. The cloud-based interface design tool is aiming for a valuation of around $18.8 billion, dramatically higher than last week's projection but still below the $20 billion that Adobe had planned to pay for the company a few years ago. Figma disclosed the expected price target increase on Monday in an amended registration statement with the Securities and Exchange Commission (SEC). The San Francisco-based company confidentially filed an initial S-1 form with the SEC in April. On July 1, Figma announced its registration statement was available to the public. IPO market is heating up this year Figma will trade on the New York Stock Exchange (NYSE) under the ticker 'FIG.' The listing, reportedly expected this week, could be among the year's biggest. It comes as the market for tech-focused offerings has been roaring back to life. Circle Internet Group, Chime Financial, and Hinge Health are among the buzzy tech startups that have gone public this year. In addition to Figma, space tech company Firefly Aerospace is also expected to IPO soon. In September 2022, Adobe (NYSE: ADBE) had announced plans to buy Figma for $20 billion in cash and stock. But the merger was scrapped due to antitrust concerns raised by European and U.K. regulators. In December 2023, both companies announced that they had mutually agreed to terminate their merger agreement. Adobe paid Figma a $1 billion termination fee. In its SEC paperwork, Figma reported $228.2 million in revenue for the first three months of 2025. The company reported $749 million in revenue in 2024, an increase of 48% year-over-year. The design software maker has 13 million monthly active users.
Business Wire
5 minutes ago
- Business Wire
Saviynt Accelerates Global Expansion in Asia Pacific, Japan, Europe, and the Middle East
LOS ANGELES--(BUSINESS WIRE)--Saviynt, a leading provider of cloud-native AI identity and governance platform solutions, today announced major global expansion initiatives, including the opening of new regional offices in Singapore and London, the launch of dedicated customer support operations in Europe, and plans for a significantly expanded office in India. These investments mark a new phase in Saviynt's rapid global growth and reinforce its position as the identity authority for enterprises worldwide. Building on a record-breaking 2024 and continued demand for its AI-based Identity Cloud platform, Saviynt is deepening its presence in key markets across Asia-Pacific (APJ) and Europe, the Middle East, and Africa (EMEA) regions. As identity security becomes the foundation of digital transformation and security, Saviynt's scalable, intelligent, and converged platform is increasingly being chosen by enterprises to modernize and secure their identity infrastructure. 'This is an exciting time for Saviynt as we continue building on global momentum and investing in the regions where our customers and partners need us most,' said Paul Zolfaghari, president at Saviynt. 'Our new hubs across APJ, including India and Singapore, and our expanded presence across EMEA are more than just geographic footprints. They are strategic growth engines enabling us to support millions of identities, deliver exceptional customer experiences, and accelerate the global adoption of modern identity security.' Saviynt's expanded Singapore office will serve as a regional hub for APJ, providing a base for customer success, solution delivery, and partner enablement. With accelerating digital adoption in the region and increasing regulatory focus on identity governance, this expansion will ensure customers receive tailored, high-impact support. 'Asia Pacific is at the forefront of identity security transformation,' said Dan Mountstephen, senior vice president, APJ at Saviynt. 'India, Japan, Southeast Asia, and Australia–New Zealand are vastly different markets with unique cultural nuances and varying levels of identity maturity. Yet one unifying reality stands out: identity remains the #1 attack surface in cyber breaches. Across the region, enterprises and governments are prioritizing cloud-first identity security platforms that are simple to adopt, deliver rapid time to value, and solve a broad spectrum of use cases at scale. That's exactly where Saviynt leads — bringing smarter identity security to the heart of APJ.' In Europe and the Middle East, Saviynt has significantly expanded its regional footprint to five core hubs serving customers in over 15 countries. Along with a newly launched customer operations center in Poland, a regional office in London, and new leadership in Amsterdam and Germany, the company has expanded across Iberia, and is actively hiring leadership in Dubai to support its growing Middle East customer base. These hubs are designed to enhance regional delivery, strengthen partner collaboration, and offer deeper identity expertise across diverse regulatory and business environments. 'From London to Warsaw, Amsterdam to Dubai, and across the region, EMEA is a cornerstone of our global growth strategy,' said Brooks Wallace, senior vice president, EMEA at Saviynt. 'As demand accelerates across our enterprise account base, we're focused on delivering modern, scalable identity solutions that align with the strategic priorities of today's leading organizations—enabling them to strengthen security postures, meet complex compliance requirements, and drive long-term digital transformation.' In India, Saviynt is preparing to unveil a new office location to support its growing presence in the region, not only through engineering, product, and support functions, but also by expanding its go-to-market teams. With India playing a critical role in both global operations and regional growth, this move reflects Saviynt's long-term commitment to investing in world-class talent, customer engagement, and market development. These expansions follow a period of significant customer wins, industry recognition, and product innovation for Saviynt. The company was recently named a 2024 Gartner Peer Insights Customers' Choice for Identity Governance and Administration for the fourth consecutive year and continues to displace legacy providers with its converged, AI-driven identity platform. For more information about Saviynt's Identity Cloud, please visit the website. About Saviynt Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt is recognized as an industry leader in identity security whose cutting-edge solutions protect the world's leading brands, Fortune 500 companies and government organizations. The company recently launched Saviynt University to help reduce the knowledge gap in cybersecurity and identity management by providing free training and certification programs, with significant focus on practitioners in India. For more information, please visit
