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Yahoo
01-08-2025
- Business
- Yahoo
Stocks Erase Early Gains as Chip Makers and Big Pharma Retreat
The S&P 500 Index ($SPX) (SPY) Thursday closed down -0.37%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.74%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.55%. September E-mini S&P futures (ESU25) fell -0.43%, and September E-mini Nasdaq futures (NQU25) fell -0.60%. Stock indexes gave up an early advance on Thursday and settled lower, with the Dow Jones Industrials falling to a 2-week low. ARM Holdings Plc plunged more than -13% to weigh on chip stocks after the company forecast Q2 adjusted EPS below the consensus. Also, pharmaceutical companies retreated Thursday to weigh on the overall market after President Trump sent letters to 17 drug makers, demanding they slash drug prices. More News from Barchart Morgan Stanley Says Nvidia Has 'Exceptional' Strength. Should You Buy NVDA Stock Here? With UnitedHealth Under DOJ Investigation, Should You Buy, Sell, or Hold UNH Stock Now? As Trump Says He Wants Tesla to 'THRIVE,' How Should You Play TSLA Stock? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Stocks on Thursday initially moved higher, with the S&P 500 and Nasdaq 100 posting new record highs. Stellar earnings results from Microsoft and Meta Platforms lifted the broader market early Thursday after they boosted their capital spending plans and pledged to continue investing in artificial intelligence. Thursday's economic news was mixed for stocks as reports showed a resilient labor market, although consumer spending was weaker than expected and price pressures and labor costs remained sticky. US weekly initial unemployment claims rose +1,000 to 218,000, showing a stronger labor market than expectations of 224,000. US Jun personal spending rose +0.3% m/m, weaker than expectations of +0.4% m/m. Jun personal income rose +0.3% m/m, stronger than expectations of +0.2% m/m. The US Jun core PCE price index, the Fed's preferred inflation gauge, rose +2.8% y/y, stronger than expectations of +2.7% y/y. The US Q2 employment cost index rose +0.9%, stronger than expectations of +0.8%. The US Jul MNI Chicago PMI rose +6.7 to a four-month high 47.1, stronger than expectations of 42.0. In the latest tariff news, President Trump said Thursday that he will impose a tariff rate of 15% on imports from South Korea and that a deal with Taiwan was also being drafted as the two countries reached "a certain degree of consensus." In addition, trade deals are in the offing for Thailand and Cambodia after they agreed to a ceasefire. Finally, President Trump extended Mexico's current tariff rates for 90 days to allow more time for trade negotiations. The markets this week will focus on any news of new trade deals before Friday's deadline. On Friday, Jul nonfarm payrolls are expected to increase by +109,000, and the Jul unemployment rate is expected to rise by +0.1 to 4.2%. Also, Jul average hourly earnings are expected +0.3% m/m and +3.8% y/y. In addition, the Jul ISM manufacturing index is expected to increase by +0.2 to 49.5. Finally, the University of Michigan Jul consumer sentiment index is expected to be unrevised at 61.8. The markets are awaiting President Trump's August 1 deadline for trade deals to avoid high tariffs. On July 16, Mr. Trump announced that he intends to send a tariff letter to more than 150 countries, notifying them that their tariff rates could be 10% or 15%, effective August 1. As an update, Mr. Trump last Wednesday said, "We'll have a straight, simple tariff of anywhere between 15% and 50%," an indication that the floor for tariffs is rising and suggesting that he would not go below 15%. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 42% at the September 16-17 FOMC meeting and 36% at the following meeting on October 28-29. This week kicks off the earnings season's busiest week, with 38% of the stocks in the S&P 500 reporting quarterly earnings, double the amount reported last week. The earnings results of Magnificent Seven members will be front and center, with Apple and reporting after today's closing. Early results show that S&P 500 earnings are on track to rise +4.5% for the second quarter, better than the pre-season expectations of +2.8% y/y, according to Bloomberg Intelligence. With over 55% of S&P 500 firms having reported, around 82% exceeded profit estimates. Overseas stock markets on Thursday settled mixed. The Euro Stoxx 50 fell from a 2.5-week high and closed down -1.36%. China's Shanghai Composite slid to a 1-week low and closed down -1.18%. Japan's Nikkei Stock 225 closed up +1.02%. Interest Rates September 10-year T-notes (ZNU25) Thursday closed up +2 ticks. The 10-year T-note yield fell -0.6 bp to 4.365%. T-notes posted modest gains on Thursday due to some positive carryover from a rally in 10-year UK gilts to a 3.5-week high. Also, falling inflation expectations were supportive for T-notes after the 10-year breakeven inflation rate fell to a 1-week low Thursday of 2.381%. In addition, month-end buying of longer-term government debt securities by bond fund managers to extend duration and balance their bond portfolios was supportive for T-notes. T-notes fell back from their best levels after weekly jobless claims rose less than expected, and the Q2 employment cost index and the Jun core PCE price index, the Fed's preferred inflation gauge, rose more than expected, hawkish factors for Fed policy. In addition, T-notes have some negative carryover from Wednesday when Fed Chair Powell dampened speculation of a Fed rate cut in September when he said that with inflation risks from tariffs, the current modestly restrictive policy stance is appropriate. European government bond yields today are moving lower. The 10-year German bund yield is down -1.0 bp to 2.695%. The 10-year UK gilt yield fell to a 3.5-week low of 4.557% and is down -3.5 bp to 4.567%. The Eurozone Jun employment rate remained unchanged at a record low of 6.2%, showing a stronger labor market than expectations of a +0.1 point increase to 6.3%. The German Jul unemployment change rose by +2,000, showing a stronger labor market than expectations of +15,000. German Jul CPI (EU harmonized) eased to +1.8% y/y from +2.0% y/y in Jun, weaker than expectations of +1.9% y/y and the slowest pace of increase in 10 months. Swaps are discounting the chances at 10% for a -25 bp rate cut by the ECB at the September 11 policy meeting. US Stock Movers ARM Holdings Plc (ARM) closed down more than -13% to lead losers in the Nasdaq 100 and lead chip stocks lower after forecasting Q2 adjusted EPS of 29 cents-37 cents, the midpoint below the consensus of 35 cents. Also, GlobalFoundries (GFS) closed down more than -5%, and KLA Corp (KLAC), Applied Materials (AMAT), Micron Technology (MU), and Texas Instruments (TXN) closed down more than -4%. In addition, Microchip Technology (MCHP), ASML Holding NV (ASML), and NXP Semiconductors NV (NXPI) closed down more than -3%. Pharmaceutical companies retreated Thursday to weigh on the overall market after President Trump sent letters to 17 drug makers, demanding they slash drug prices. As a result, Bristol-Myers Squibb (BMY) closed down more than -5% and Merck & Co (MRK) closed down more than -4%. Also, Eli Lilly (LLY) closed down more than -3%, and Pfizer (PFE), Amgen (AMGN), Gilead Sciences (GILD), and Vertex Pharmaceuticals (VRTX) closed down more than -2%. Align Technology (ALGN) closed down more than -36% to lead losers in the S&P 500 after reporting Q2 net revenue of $1.01 billion, weaker than the consensus of $1.06 billion, and forecasting Q3 net revenue of $965 million-$985 million, well below the consensus of $1.04 billion. Baxter International (BAX) closed down more than -22% after reporting Q2 sales from continuing operations of $2.81 billion, below the consensus of $2.82 billion, and cut its full-year adjusted EPS forecast to $2.42-$2.52 from a previous forecast of $2.47-$2.55. International Paper (IP) closed down more than -12% after reporting Q2 adjusted operating EPS of 20 cents, well below the consensus of 40 cents. Qualcomm (QCOM) closed down more than -7% after reporting Q3 handset revenue of $6.33 billion, below the consensus of $6.48 billion. UnitedHealth Group (UNH) closed down more than -6% to lead losers in the Dow Jones Industrials after Baird downgraded the stock to underperform from neutral with a price target of $198. Lam Research (LRCX) closed down more than -4% after the company said it expects Q1 revenue to ease from current-quarter levels, with Chinese customers potentially scaling back after a spending spree. Meta Platforms (META) closed up more than +11% to lead gainers in the Nasdaq 100 after reporting Q2 revenue of $47.53 billion, well above the consensus of $44.83 billion and raised its capital expenditure estimate to $66 billion-$72 billion from a previous estimate of $64 billion-$72 billion, the midpoint above the consensus of $67.79 billion. EBay (EBAY) closed up more than +18% to lead gainers in the S&P 500 after reporting Q2 net revenue of $2.73 billion, better than the consensus of $2.64 billion, and forecasting Q3 net revenue of $2.69 billion-$2.74 billion, stronger than the consensus of $2.65 billion. CH Robinson Worldwide (CHRW) closed up more than +18% after reporting Q2 adjusted EPS of $1.29, stronger than the consensus of $1.16, and after Baird upgraded the stock to outperform from neutral with a price target of $135. Carvana (CVNA) closed up more than +17% after reporting Q2 revenue of $4,84 billion, well above the consensus of $4.57 billion. Western Digital (WDC) closed up more than +10% after reporting Q4 adjusted EPS of $1.66, above the consensus of $1.48, and forecast Q1 adjusted EPS of $1.39-$1.69, the midpoint above the consensus of $1.42. Norwegian Cruise Line Holdings (NCLH) closed up more than +9% after reporting Q2 adjusted Ebitda of $694.0 million, better than the consensus of $671.1 million, and raised its full-year occupancy forecast to 103% from 102.5%, above the consensus of 102.6%. Huntington Ingalls Industries (HII) closed up more than +7% after reporting Q2 EPS of $3.86, well above the consensus of $3.23. Microsoft (MSFT) closed up more than +3% to lead gainers in the Dow Jones Industrials after reporting Q4 revenue of $76.44 billion, stronger than the consensus of $73.89 billion. Earnings Reports (8/1/2025) Cboe Global Markets Inc (CBOE), Chevron Corp (CVX), Church & Dwight Co Inc (CHD), Colgate-Palmolive Co (CL), Dominion Energy Inc (D), Exxon Mobil Corp (XOM), Franklin Resources Inc (BEN), Kimberly-Clark Corp (KMB), Linde PLC (LIN), LyondellBasell Industries NV (LYB), Moderna Inc (MRNA), Regeneron Pharmaceuticals Inc (REGN), T Rowe Price Group Inc (TROW), WW Grainger Inc (GWW). 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 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
The Sun
31-07-2025
- Business
- The Sun
13th Malaysia Plan 2026-2030 sets bold, ambitious path for economy
KUALA LUMPUR: Malaysia is setting the stage for a high-value, inclusive and technologically advanced economy through the 13th Malaysia Plan (13MP). Prime Minister Datuk Seri Anwar Ibrahim said Malaysia, with an ambitious growth forecast of 4.5% to 5.5% annually between 2026 and 2030, is laying down a multi-pronged blueprint to reposition the country as a regional economic powerhouse with a global voice. 'We must be brave to change course to ensure our economy remains strong so that our people do not bear the cost of inaction,' he said when presenting the 13MP in the Dewan Rakyat today. He emphasised the urgency and determination embedded in 13MP, whose theme, Melakar Semula Pembangunan Demi Mengangkat Martabat Rakyat, underscores its people-centric and future-ready focus. Economically, 13MP outlines targeted investments totalling RM611 billion, with RM430 billion allocated by the government itself. Over half of this, RM227 billion, will be allocated to the economic sector, while the remainder will be distributed among social development, security and governance. Private sector participation through government-linked companies, government-linked investment companies and public-private partnerships is expected to contribute RM181 billion. 'We are not just aspiring for material achievements, but also united in diversity and grounded in a strong identity,' Anwar said, signalling a development model that blends fiscal prudence, innovation and human-centred growth. Among key economic indicators, he added, total approved investments between 2021 and 2024 increased to RM1.29 trillion, growing at an annual rate of 23.1%. In 2024 alone, Malaysia achieved a record-breaking RM384 billion in investments. Inflation remained contained at 1.1% as of June 2025, while the fiscal deficit narrowed to 4.1% of gross domestic product (GDP) in 2024, down from 6.2% in 2020. The government aims to reduce this further to below 3% by 2030, while maintaining public debt at under 60% of GDP. The 13MP aims to steer Malaysia away from dependence on raw commodity exports toward a diversified, value-added economy. The semiconductor sector, where Malaysia is already the sixth-largest global exporter, is earmarked for a major leap through a flagship high value-high technology project, targeting RM1 trillion in electrical and electronic exports by 2030. 'We will not settle with being a production hub – we aim to lead in semiconductor design and innovation,' Anwar said. Backing this is a US$250 million (RM1.06 billion) strategic collaboration with ARM Holdings, which will bolster Malaysia's intellectual property capabilities and transition it up the global value chain. Synergies with tech giants like Intel, Amazon Web Services and Infineon Technologies are set to deepen along the semiconductor ecosystem. Further, the 13MP shows that technology and digitalisation are central to the new economic thrust. Through the National AI Action Plan 2030 and digital infrastructure investments, Malaysia aims to become the leader in artificial intelligence in Southeast Asia. A nationwide rollout of 5G with 98% coverage, the creation of 5,000 digital entrepreneurs, and the digitalisation of 95% of federal services by 2030 underscore this ambition. The green economy is also poised for expansion, supported by the National Energy Transition Roadmap. Malaysia is targeting to increase the share of renewable energy from 29% to 35% by 2030. These initiatives include battery energy storage, floating solar-hydro hybrids in Kenyir and a hydrogen hub in Sarawak. Anwar said the government is considering nuclear energy as part of its clean energy mix. 'Malaysia must rise as an Asian economy known not just for growth, but for value creation and sustainability,' he said. These efforts dovetail with carbon trading strategies, the National Carbon Market Policy and investments in waste-to-energy infrastructure. The 13MP charts an aggressive push in halal exports too, aiming to hit RM80 billion and raise the sector's GDP contribution to 11%. This will be driven by the newly established Halal Commission and the development of halal industrial parks in Malacca, Perak and Kelantan. Complementing industry-focused growth is the expansion of Malaysia's tourism sector. With 2026 declared as Visit Malaysia Year, the goal is for tourism to contribute 16% of GDP. Strategic tourism investment zones in Johor, Malacca, Negeri Sembilan and Sarawak are planned to boost cultural, heritage and eco-tourism products. The creative economy is also receiving a lift, with the digital creative industry generating RM6.3 billion in revenue and RM850 million in exports. Flagship titles like Mechamato, Upin & Ipin, and Giga Bash showcase the potential of Malaysian talent in the global entertainment industry. 'The aim is not only to showcase our stories, but to make them commercially successful across borders,' said Anwar. To meet future workforce demands, 13MP plans to create 1.2 million new jobs – 700,000 in manufacturing and 500,000 in the digital economy. Human capital will be developed through restructured TVET (technical and vocational education and training) programmes focusing on high-growth, high-value sectors, supported by government-linked companies and training institutions. For small and medium-sized enterprises, the government aims to achieve a 50% GDP contribution by 2030 through capacity building, digitalisation and access to strategic financing. Measures include strategic investment funds, working capital support and capability enhancement schemes. With Malaysia assuming the Asean chairmanship this year, cross-border infrastructure projects such as the Johor-Singapore Special Economic Zone, the Asean Power Grid, and the Johor-Singapore Rapid Transit System Link are aligned with broader regional integration. 'We are not retreating inward. Instead, Malaysia will lead in deepening regional connectivity and global engagement,' Anwar stated. As the nation enters a critical five-year period, 13MP stands as a pivotal plan, one that not only targets high-income status but also aspires to build a resilient, inclusive and innovation-driven Malaysia.
The Sun
31-07-2025
- Business
- The Sun
Selangor MB backs 13MP for inclusive growth
PETALING JAYA: Selangor Menteri Besar Datuk Seri Amirudin Shari (pic) has expressed full support for the recently tabled 13th Malaysia Plan (RMK-13), commending its focus on inclusive, strategic development and the upliftment of the rakyat's dignity. Speaking after attending the tabling of RMK-13 by Prime Minister Datuk Seri Anwar Ibrahim in the Dewan Rakyat, Amirudin welcomed the plan's theme —'Melakar Semula Pembangunan Demi Mengangkat Martabat Rakyat'— and highlighted the collective investment of RM611 billion from the government, government-linked investment companies (GLICs), and the private sector to drive the socio-economic agenda. Among the key pillars of RMK-13 is an intensified focus on strategic industries such as semiconductors, with plans to transition into higher-value processes. 'With an export target nearing RM1 billion, the strategic collaboration with ARM Holdings will empower local firms to secure intellectual property rights. 'This ensures Malaysia is not just a manufacturing base but also involved in circuit design, advanced packaging and fabrication,' Amirudin said. He also stressed the importance of efficient governance and equitable wealth distribution, adding that efforts to increase economic complexity and raise the income floor would be crucial in ensuring long-term growth. On education, Amirudin welcomed the RM67 billion allocation for infrastructure development — including school construction, upgrades and vertical schools in densely populated urban areas. He also praised the move to make preschool compulsory for five-year-olds, ensuring early access to quality education. For Selangor, the announcement of the Carey Port development is seen as a vital step. 'The state government is ready to collaborate closely with federal authorities to expedite this project, which is crucial for meeting rising container demands at Port Klang and positioning Malaysia as a leading transshipment hub in Asia,' he said. Amirudin also welcomed the Federal Government's target to create 1.2 million job opportunities in the manufacturing and digital economy sectors. 'This will benefit many Selangor graduates, especially in the high-tech and automated manufacturing space,' he added. He praised the rebranding of TVET (Technical and Vocational Education and Training) through initiatives like Perkasa TVET Madani and the TVET Training Fund, which position vocational education as a top career choice. However, he emphasised the need for a streamlined national strategy aligned with the 21 key industries under the New Industrial Master Plan 2030 (NIMP2030), with better collaboration between the public and private sectors. Amirudin also welcomed plans to enhance public transport infrastructure, particularly in the Klang Valley, with 300 new DRT vans, 1,200 buses and 217 train sets. These efforts, he said, support the state's demand-responsive transit system and will help ease traffic congestion during peak hours. He highlighted the government's commitment to environmental sustainability, including the introduction of the National Climate Change Bill and the aim to increase renewable energy use to 35% by 2030.
Globe and Mail
22-07-2025
- Business
- Globe and Mail
New Buy Rating for ARM Holdings PLC ADR (ARM), the Technology Giant
Wells Fargo analyst Joseph Quatrochi maintained a Buy rating on ARM Holdings PLC ADR yesterday and set a price target of $175.00. The company's shares closed last Friday at $156.74. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Quatrochi covers the Technology sector, focusing on stocks such as KLA, Cadence Design, and Applied Materials. According to TipRanks, Quatrochi has an average return of 19.4% and a 66.22% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ARM Holdings PLC ADR with a $158.56 average price target, which is a 1.16% upside from current levels. In a report released on July 16, Exane BNP Paribas also upgraded the stock to a Buy with a $210.00 price target. The company has a one-year high of $182.88 and a one-year low of $80.00. Currently, ARM Holdings PLC ADR has an average volume of 4.99M. Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARM in relation to earlier this year.
Yahoo
17-07-2025
- Business
- Yahoo
ASML cuts outlook, Palantir & ARM upgraded: Trending Tickers
Here are some of the stocks on the move on Wednesday, July 16. ASML (ASML) stock is under pressure after the company narrowed its 2025 guidance, citing rising tariff uncertainty and geopolitical tensions. Palantir (PLTR) stock is in focus after Mizuho upgraded the company to Neutral, noting increased enterprise activity and strong artificial intelligence (AI) adoption. ARM Holdings (ARM) is rising following an upgrade to Outperform from Neutral by BNP Paribas, which sees upside potential from the company's expansion into ASIC chips and data centers. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Now time for some of today's trending tickers. Gonna start with ASML, that company narrowing its guidance for the remainder of 2025 amid tariff uncertainty. So this one was interesting, Chris. Uh, it sounds like we have a company kind of walking back the forecast here. That sales will grow next year. They're walking that back. They seem like they're pinning it on trade disputes in part. CEO saying we continue to see increasing uncertainty driven by macroeconomic and geopolitical developments. While we still prepare for growth in 2026, we cannot confirm it at this stage. I think you're going to hear a lot more about that as we go through the earnings season. You know, not to harp on it 'cause we were just talked about tariffs and trade deals and that uncertainty, but it's kind of a cover if you want to think about it, right? If If you're a company and you're planning whether it's your capital spending budget, or your outlook for how what consumers are going to do, whether or not others will be, you know, taking your products, you don't really know the landscape. You can see the data, but this tariff uncertainty is just amping up questions that you just don't have the answers to right now. And I've been thinking that this earnings season, more companies than not are likely to guide more conservatively because we don't know that. I'm a little concerned about where the S&P 500 is, right? Earnings expectations come down. That either means the market comes down or the multiple goes higher. And at what point do people start to question the market valuation? To your point, the CFO of the company saying customers, I thought this was interesting. So, customers are more more concerned about the tariff discussion today than they were three months ago. Countries are in full battle mode again when it comes to tariffs. 100%. I mean, you know, again, Trump has kind of pushed it down, and we've got now 30%, 35%, potentially higher. How do you plan in that environment if you don't? Because you don't know if that's going to be it. Could it be something else? Could it be even higher, you know? If something happens and Trump says, "Ah, we're gonna do this." So it's a very uncertain time, hard to plan for. All right, let's turn to another one. Now with Palantir, that stock getting a lift at Mizuho, the firm highlighting a bright spot for revenue growth. So Mizuho upgrades this one, they go to neutral, right? And here's what they say, Chris, they say, "While checks on Palantir's business are very limited, we heard we heard that enterprise inbound activity rose materially. We anticipate ongoing strong AI adoption in the US." We believe Palantir has a legitimate chance, they say, to accelerate total revenue growth for growth for a fifth consecutive quarter. Yeah, that's why That's why we own the stock in the pro portfolio at the street. That's why we bought it in, you know, around 70, 75 on that pullback earlier in the year. What confounds me, though, is an upgrade to a neutral with a price target that is lower than where the stock is. Doesn't seem to make sense. Uh, if I were to sift through it, put my buy-side hat on, sounds like you missed it, and he's kind of trying to catch up. Uh they They acknowledge they call it a sky-high valuation, is how they put it, Chris. But the robo robust growth story appears intact. Their target looks like 135. To your point, the stock has been of course a monster. Yeah, it has. It has. I I honestly think, Josh, that you're saying, "Wow, we see big growth out there, but we're concerned about the value." You're talking out of both sides of your mouth. Which one is it? Got a call. All right, lastly, Arm Holdings is getting an upgrade at BNP Paribas, citing potential upside from ASIC chips. Uh so they upgrade this one to outperform, their target's 120. What do you make of that one, Chris? Uh again, little late to the party on this one. Big move off the IPO, though. Oh, oh, yeah. Yeah. But I mean, you know, look, we're going into the seasonally strongest part of the year for their key end markets. Um they are trying to move more into data centers. So it does make sense that, you know, you want to be where the growth is going into the second half of the year. Personally, I prefer Nvidia, Marvell, and Qualcomm over this, but that's just me. To your point, the analyst does say here, there are still significant upside to be had. That's what they're telling clients.
