Latest news with #744
The Star
02-05-2025
- Business
- The Star
Bursa Malaysia recoups earlier losses, CI ends at intraday high
KUALA LUMPUR: Bursa Malaysia recouped earlier losses with the key index closing at its intraday high on Friday, in tandem with the positive regional market performance and late buying in telecommunications, construction, property, and data centre-related stocks. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.27 points, or 0.15 per cent, to 1,542.49 from Wednesday's close of 1,540.22. The exchange was closed on Thursday for the Labour Day holiday. The market bellwether opened 2.80 points lower at 1,537.42 and subsequently slid to a low of 1,532.23 in early trade before crawling back up to its intraday high at closing. Market breadth was positive with 744 gainers thumping 311 decliners, while 449 counters were unchanged, 840 untraded, and 20 suspended. Turnover improved to 2.73 billion units valued at RM2.46 billion against Wednesday's 2.56 billion units valued at RM2.25 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices edged higher after China signalled it is evaluating potential trade talks with the US. "This development helped lift market sentiment and attracted foreign funds into the region. "China's Commerce Ministry stated that the US had recently expressed interest in resuming discussions and China is currently assessing the proposal,' he told Bernama. On the domestic front, Thong remains optimistic about the easing trade tensions between the world's two largest economies, although he remains cautious pending the outcome of ongoing discussions. Among the heavyweights, Sunway Bhd added 24 sen to RM4.79, IHH Healthcare rose 13 sen to RM7.05, Gamuda garnered 16 sen to RM4.40, IOI Corp climbed six sen to RM3.72, and CelcomDigi perked up three sen to RM3.85. As for the active stocks, market debutant Reach Ten and Tanco climbed two sen each to 54 sen and 88 sen respectively, Nationgate rose 16 sen to RM1.52, Jaks Resources improved 2.5 sen to 12 sen, and Avangaad was flat at 27.5 sen. On the index board, the FBM Emas Index garnered 81.60 points to 11,489.38, the FBMT 100 Index increased 72.80 points to 11,257.24, the FBM Emas Shariah Index jumped 116.06 points to 11,390.35, the FBM 70 Index soared 329.17 points to 16,274.54, and the FBM ACE Index climbed 20.54 points to 4,649.20. Sector-wise, the Financial Services Index rose 6.34 points to 18,240.95, the Industrial Products and Services Index firmed 0.81 of-a-point to 152.29, the Energy Index gained 6.83 points to 694.97, and the Plantation Index put on 26.35 points to 7,283.77. The Main Market volume expanded to 1.70 billion units worth RM2.04 billion against Wednesday's 1.33 billion units worth RM2.04 billion. Warrants turnover tumbled to 689.48 billion units valued at RM75.64 million from 814.34 million units valued at RM91.56 million previously. The ACE Market volume slipped to 341.65 million units worth RM108.73 million compared to 417.40 million units worth RM113.82 million on Wednesday. Consumer products and services counters accounted for 195.05 million shares traded on the Main Market, industrial products and services (272.02 million), construction (190.88 million), technology (253.14 million), SPAC (nil), financial services (483.31 million), property (228.45 million), plantation (25.45 million), REITs (13.38 million), closed/fund (43,000), energy (99.80 million), healthcare (67.91 million), telecommunications and media (172.82 million), transportation and logistics (47.52 million), utilities (60.68 million), and business trusts (48,100).- Bernama
Malay Mail
02-05-2025
- Business
- Malay Mail
Bursa Malaysia ends on a high note, with telecommunications and property stocks driving late rally
KUALA LUMPUR, May 2 — Bursa Malaysia recouped earlier losses with the key index closing at its intraday high on Friday, in tandem with the positive regional market performance and late buying in telecommunications, construction, property, and data centre-related stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.27 points, or 0.15 per cent, to 1,542.49 from Wednesday's close of 1,540.22. The exchange was closed on Thursday for the Labour Day holiday. The market bellwether opened 2.80 points lower at 1,537.42 and subsequently slid to a low of 1,532.23 in early trade before crawling back up to its intraday high at closing. Market breadth was positive with 744 gainers thumping 311 decliners, while 449 counters were unchanged, 840 untraded, and 20 suspended. Turnover improved to 2.73 billion units valued at RM2.46 billion against Wednesday's 2.56 billion units valued at RM2.25 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the key regional indices edged higher after China signalled it is evaluating potential trade talks with the US. 'This development helped lift market sentiment and attracted foreign funds into the region. 'China's Commerce Ministry stated that the US had recently expressed interest in resuming discussions and China is currently assessing the proposal,' he told Bernama. On the domestic front, Thong remains optimistic about the easing trade tensions between the world's two largest economies, although he remains cautious pending the outcome of ongoing discussions. Among the heavyweights, Sunway Bhd added 24 sen to RM4.79, IHH Healthcare rose 13 sen to RM7.05, Gamuda garnered 16 sen to RM4.40, IOI Corp climbed six sen to RM3.72, and CelcomDigi perked up three sen to RM3.85. As for the active stocks, market debutant Reach Ten and Tanco climbed two sen each to 54 sen and 88 sen respectively, Nationgate rose 16 sen to RM1.52, Jaks Resources improved 2.5 sen to 12 sen, and Avangaad was flat at 27.5 sen. — Bernama
Yahoo
14-04-2025
- Politics
- Yahoo
Teachers, parents, students demand ‘fully-funded public schools' at Indiana Statehouse rally
Teachers and families attend a public education rally on Monday, April 14, 2025, at the Indiana Statehouse. (Casey Smith/Indiana Capital Chronicle) A sea of red descended upon the Indiana Statehouse Monday as hundreds of teachers, parents and students from across the state rallied to demand increased funding for public schools — and to protest pending policy proposals that could shift millions of local dollars to charters. The rally — one of many hosted in recent years by the Indiana State Teachers Association, the state's largest teachers union — came just hours ahead of a possible final vote on a massive property tax plan. The latest provisions baked into the legislation could reduce public schools' tax dollars by as much as $744 million over the next three years. ISTA President Keith Gambill said that blow comes in addition to education funding gaps in the newest draft of the state budget. 'The overall funding increase of 2% per year — of $870 million — does not even meet inflation,' Gambill said. 'Our students deserve bold investment, not the bare minimum.' He said teachers will be pressing lawmakers in the coming days and weeks 'to ensure that public dollars are staying with public schools.' The legislative session must end by April 29 but could be finished as early as April 24. All bills — including the state budget — must be finalized by that time. 'Our schools deserve to be fully funded — and fully public — so all kids receive a quality education,' Gambill emphasized. Teacher attendance at the rally forced at least three Hoosier school districts to move to an e-learning day, including Indianapolis Public Schools and nearby Pike Township, as well as Monroe County Community Schools in Bloomington. Our schools deserve to be fully funded — and fully public — so all kids receive a quality education. – Indiana State Teachers Association President Keith Gambill The shift to e-learning appeared to prompt a legislative amendment published Monday morning by Indianapolis Republican Rep. Andrew Ireland. Proposed language filed to Senate Bill 373, an unrelated education bill, sought to jeopardize funding for public school districts that convert scheduled in-person instructional days to virtual because of 'planned or coordinated absence of teachers or other personnel for the purpose of participating in a protest, demonstration, or political advocacy event.' Districts would risk losing state tuition support for each day of a violation, according to Ireland's amendment. Gambill read the amendment aloud during the rally, drawing shouting and boos from the crowd. 'We have got to talk to our legislators today, tomorrow and every day between now and the end of the session. We must be vigilant,' he said. 'We have to speak from the heart, and remind them that behind every policy is a classroom with a teacher and students.' Ireland introduced the amendment Monday afternoon to make a statement, but withdrew it without discussion or a vote. Chants echoed throughout the Statehouse halls for more than two hours Monday morning. 'Schools need funding!' 'Pay our teachers!' 'Defend public education!' Rallygoers, many dressed in red t-shirts, had homemade signs in tow, too. Banners, poster boards, paper placards — and even painted messages on the backs of LaCroix boxes — were raised by attendees amid chanting, cheering and frustrated yells. Everyone's goal was the same: demand 'fair' and 'adequate' funding for public schools. Gambill said recent changes to both bills were improvements from their original versions. But he maintained that increases to base tuition support in the Senate GOP's state budget draft 'are not enough,' and held that amendments added to the property tax measure would divert 'critical' dollars from traditional publics to charters and could allow districts to 'side step' collective bargaining rights for teachers. Monica Shellhamer, a vice president with the Indianapolis Education Association, said during her rally remarks that teachers continue to be left out of conversations around school funding. 'Indianapolis public schools has been a target of the legislature for many years and this year is no different,' Shellhamer said. 'Bill after bill continued to be submitted to shut down or defund Indianapolis public schools.' Jenny Noble-Kuchera, president of the Monroe County Education Association, further pointed to pending education cuts at the federal level. 'The way it is currently, public education as we know it will begin to disappear, and our children are the victims,' she said Monday. 'We already have severe mismanagement at the federal level of Title I grants for our lower-income students, of critical programs supporting students with disabilities, and elimination of programs for our schools.' 'This is bad enough, and now Indiana politicians can't put their youngest constituents first, and support basics, like learning to read and write, and foundational math,' she continued. 'It's not OK.' SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
13-02-2025
- Business
- Yahoo
Waters Corp (WAT) Q4 2024 Earnings Call Highlights: Strong Pharma and PFAS Growth Amid FX Challenges
Revenue Growth: 6.4% as reported and 8% in constant currency for Q4 2024. Adjusted EPS Growth: 13% to $4.10 in Q4 2024; 22% growth excluding FX impact. GAAP EPS: $3.88 for Q4 2024. Full-Year Non-GAAP EPS: $11.86, reflecting 1% growth with a 5% decline due to FX headwinds. Full-Year GAAP EPS: $10.71 per share. Operating Margin: 35.5% adjusted operating margin in Q4 2024, a 60 basis point increase. Free Cash Flow: $188 million in Q4 2024; $744 million for the full year. Net Debt Position: Approximately $1.3 billion, with a net debt-to-EBITDA ratio of about 1.3 times. Pharma Sales Growth: 10% in Q4 2024, with low double-digit growth in Europe and Asia. Instrument Sales Growth: 8% in Q4 2024, led by LC, Mass Spec, light scattering, and TA systems. Recurring Revenue Growth: 9% in Q4 2024, with chemistry and service both up high single digits. PFAS Revenue Growth: Over 40% in Q4 2024 and for the year. Max Premier Columns Sales Growth: Over 30% in Q4 2024 and over 40% for the year. 2025 Sales Growth Guidance: 4.5% to 7% in constant currency. 2025 EPS Guidance: $12.70 to $13 on a non-GAAP basis, reflecting 7% to 10% growth. Warning! GuruFocus has detected 6 Warning Signs with WAT. Release Date: February 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Waters Corp (NYSE:WAT) achieved high single-digit constant currency revenue growth and low-teens adjusted EPS growth in Q4 2024. Pharma sales, the largest end market for Waters Corp (NYSE:WAT), grew in low double digits, indicating strong demand. Recurring revenues grew 9%, marking an improvement from the previous quarter, with chemistry and service both up high single digits. The Xevo TQ Absolute system, a key product, saw unit sales grow 40% year-over-year, contributing significantly to PFAS testing revenue growth. Waters Corp (NYSE:WAT) achieved a 60 basis point increase in adjusted operating margin to 35.5%, despite FX headwinds. Sales for the full year were flat as reported and in organic constant currency terms, indicating challenges in overall growth. The US dollar's strengthening introduced significant foreign exchange headwinds, impacting financial performance. The Academic and Government segment saw a decline of 7% for the full year, reflecting challenges in this market. China sales, while returning to positive growth, only increased by low single digits, indicating a slow recovery. The company faces ongoing margin challenges, including FX, inflation, and normalization of annual incentive compensation. Q: Can you elaborate on the budget flush dynamics and the replacement cycle within your pharma customer base? A: Udit Batra, President and CEO, explained that 2024 saw a typical budget flush with a high-teens ramp from Q3 to Q4, driven by strong sales momentum. The replacement cycle is progressing well, with large pharma initiating replacements, and the Alliance iS now constituting 20% of HPLC sales. The replacement cycle is widespread among large pharma and CDMOs, with strong funnels going into 2025. Q: How are macroeconomic risks, such as tariffs and potential spending cuts, factored into your 2025 guidance? A: Udit Batra noted that the 2025 guidance of 4.5% to 7% sales growth incorporates these risks. The recurring revenue growth is expected to remain stable at 6% to 7%, while instruments need to grow 4% to 4.5% to reach the midpoint of the guidance. The company has built prudence into the lower end of the guidance to account for potential headwinds. Q: What is the expected contribution from PFAS, GLP-1, and India to the 2025 growth? A: Udit Batra stated that both GLP-1 and PFAS are expected to contribute 30 basis points each to growth, while India is anticipated to add 70 to 100 basis points. India showed over 25% growth in 2024, and China is expected to maintain low single-digit growth with potential upside from stimulus. Q: Can you discuss the strength in the academic and government segment and expectations for 2025? A: Amol Chaubal, CFO, mentioned that Q4 saw strong growth due to typical budget flush dynamics, especially in Europe, and initial orders from China's stimulus. For 2025, the company expects low single-digit growth in this segment, with limited direct exposure to NIH funding risks. Q: How is the PFAS market evolving, and what drives Waters' growth in this area? A: Udit Batra highlighted that the PFAS market is expanding due to new applications in environmental, food, and academic testing. Waters is growing faster than the market, driven by the Xevo TQ Absolute's sensitivity and low environmental footprint, along with strong informatics and chemistry offerings. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
