Latest news with #EarningsSeason
Globe and Mail
3 hours ago
- Business
- Globe and Mail
Big Retail Earnings Charts: WMT, HD, TGT, LOW and EL.
Earnings season is winding down but that means we're going to hear from the big cap retailers. This quarter, what they are saying about the US consumer will be more important than ever. Additionally, tariffs of up to 50% have gone into place on many countries and products. Are the largest retailers seeing tariff impacts on margins? Will they be raising prices on some products to counter tariffs? It's not easy to beat on earnings with all of this uncertainty. Several of these companies have excellent earnings surprise track records, however, with one having a perfect 5-year record. Will they beat again even with all the noise? Retailers and Estee Lauder in the Earnings Spotlight 1. Home Depot, Inc. ( HD ) Home Depot is coming off a rare earnings miss last quarter. It was Home Depot's first miss in 5 years. Earnings are expected to fall 1.4% this year. Home Depot trades with a forward price-to-earnings (P/E) ratio of 26.6. It's not cheap. Shares of Home Depot are up 10.2% in the last month. Is Home Depot a play on a turnaround in housing? 2. Lowe's Companies Inc. ( LOW ) Lowe's is an earnings all-star. It hasn't missed on earnings in 5 years. That's impressive given that it includes part of the pandemic as well as the slowdown in housing after the Fed raised interest rates in 2022. Lowe's is expected to grow earnings 2.4% in fiscal 2026. Shares are up 14.9% in the last month on rate cut hopes. At 20.5x forward earnings, is Lowe's a deal? 3. The Estee Lauder Companies ( EL ) Estee Lauder has a great earnings surprise record, having beaten 8 quarters in a row. It has only missed twice in the last 5 years even with the pandemic. Estee Lauder's recent earnings beats have been big, as well. Last quarter, Estee Lauder beat by 124%. Estee Lauder shares have plunged in the last 5 years, falling 56% during that time. But they have rebounded over the last 3 months, gaining 39.6%. Estee Lauder isn't cheap, with a forward P/E of 42.6. Is the worst over for Estee Lauder? 4. Walmart Inc. ( WMT ) Walmart has beat on earnings 12 quarters in a row. It has only missed twice in the last 5 years. That's impressive. Shares of Walmart hit new highs this year but over the last 3 months, with tariff uncertainty, they are up just 3%. Walmart is still an expensive stock on a P/E basis. It trades with a forward P/E of 38.4. Will another beat be a catalyst for Walmart shares this quarter? 5. Target Corp. ( TGT ) Target has missed 2 out of the last 4 quarters. It has the worst earnings surprise record of these 5 companies. Shares have sunk to 5-year lows this year and are down 32% over that time. Earnings are expected to fall 15.6% this year. Target is now a cheap stock, with a forward P/E of 13.8. Can Target turn it around this quarter? Free Report: Profiting from the 2nd Wave of AI Explosion The next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives. Investors who bought shares like Nvidia at the right time have had a shot at huge gains. But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies. Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI's next leap forward. Access AI Boom 2.0 now, absolutely free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT): Free Stock Analysis Report Walmart Inc. (WMT): Free Stock Analysis Report Lowe's Companies, Inc. (LOW): Free Stock Analysis Report The Home Depot, Inc. (HD): Free Stock Analysis Report The Estee Lauder Companies Inc. (EL): Free Stock Analysis Report
Yahoo
4 hours ago
- Business
- Yahoo
Big Retail Earnings Charts: WMT, HD, TGT, LOW and EL.
Earnings season is winding down but that means we're going to hear from the big cap retailers. This quarter, what they are saying about the US consumer will be more important than ever. Additionally, tariffs of up to 50% have gone into place on many countries and products. Are the largest retailers seeing tariff impacts on margins? Will they be raising prices on some products to counter tariffs? It's not easy to beat on earnings with all of this uncertainty. Several of these companies have excellent earnings surprise track records, however, with one having a perfect 5-year record. Will they beat again even with all the noise? Retailers and Estee Lauder in the Earnings Spotlight 1. Home Depot, Inc. (HD) Home Depot is coming off a rare earnings miss last quarter. It was Home Depot's first miss in 5 years. Earnings are expected to fall 1.4% this year. Home Depot trades with a forward price-to-earnings (P/E) ratio of 26.6. It's not cheap. Shares of Home Depot are up 10.2% in the last month. Is Home Depot a play on a turnaround in housing? 2. Lowe's Companies Inc. (LOW) Lowe's is an earnings all-star. It hasn't missed on earnings in 5 years. That's impressive given that it includes part of the pandemic as well as the slowdown in housing after the Fed raised interest rates in 2022. Lowe's is expected to grow earnings 2.4% in fiscal 2026. Shares are up 14.9% in the last month on rate cut hopes. At 20.5x forward earnings, is Lowe's a deal? 3. The Estee Lauder Companies (EL) Estee Lauder has a great earnings surprise record, having beaten 8 quarters in a row. It has only missed twice in the last 5 years even with the pandemic. Estee Lauder's recent earnings beats have been big, as well. Last quarter, Estee Lauder beat by 124%. Estee Lauder shares have plunged in the last 5 years, falling 56% during that time. But they have rebounded over the last 3 months, gaining 39.6%. Estee Lauder isn't cheap, with a forward P/E of 42.6. Is the worst over for Estee Lauder? 4. Walmart Inc. (WMT) Walmart has beat on earnings 12 quarters in a row. It has only missed twice in the last 5 years. That's impressive. Shares of Walmart hit new highs this year but over the last 3 months, with tariff uncertainty, they are up just 3%. Walmart is still an expensive stock on a P/E basis. It trades with a forward P/E of 38.4. Will another beat be a catalyst for Walmart shares this quarter? 5. Target Corp. (TGT) Target has missed 2 out of the last 4 quarters. It has the worst earnings surprise record of these 5 companies. Shares have sunk to 5-year lows this year and are down 32% over that time. Earnings are expected to fall 15.6% this year. Target is now a cheap stock, with a forward P/E of 13.8. Can Target turn it around this quarter? Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Lowe's Companies, Inc. (LOW) : Free Stock Analysis Report The Home Depot, Inc. (HD) : Free Stock Analysis Report The Estee Lauder Companies Inc. (EL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Finance week ahead: Jackson Hole Symposium, UK inflation, Walmart, Palo Alto Networks and Baidu
Earnings season is winding down but there are still a number of companies due to report, along with key economic data and events on both sides of the Atlantic – including the Jackson Hole Symposium. This year's Jackson Hole Symposium will see central bankers from around the world gather to discuss economic policy – an event that will be closely watched by investors for any signals on the US Federal Reserve's plans for future interest rate cuts. Back in the UK, the focus will be on the latest inflation data, which has been ticking higher over the past couple of months. In terms of earnings releases, investors will be looking at results from US retail giant Walmart (WMT), which is considered a barometer for consumer sentiment. In the tech sector, US cybersecurity giant Palo Alto Networks (PANW) is set to report, with the stock having seen a couple of analyst ratings upgrades this week. China's Baidu ( BIDU) is another major tech company scheduled to report, having recently struck a deal with Uber (UBER) to deploy its autonomous cars on the ride-hailing platform across markets outside of the US and mainland China. Here's more on what to look out for: Jackson Hole Symposium – Takes place from Thursday 21 August to Saturday 23 August The theme for this year's Jackson Hole event is "Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy". This comes amid concerns about a cooling labour market, as economic uncertainty sees firms put off hiring decisions. Central bankers keep a close eye on labour market data, which includes payroll numbers, unemployment rates, job vacancies and wage growth. This data helps inform their decisions on interest rates, as they seek to balance maintaining labour market health, with ensuring inflation continues to ease to the widely used 2% target. This has been more challenging amid fears that US president Donald Trump's tariffs could weigh on economic growth but also drive inflation higher. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Although the effect of Trump's tariffs on monetary policy will be the undercurrent theme, investors will be looking specifically for clues as to the Fed's inclination to cut interest rates going forward." Read more: Analysts' top emerging market fund and trust picks "Bets on a cut in September have increased sharply following a stable inflation reading for July and there will focus on what could lie ahead for borrowing costs," she said. Data released on Tuesday showed that "core" inflation rose 0.3% in July, surpassing June's 0.2% uptick. On an annual basis, the core consumer prices index (CPI) reading came in at 3.1%, up from 2.9% in June. Another inflation measure, the producer price index (PPI) came in hotter than expected in July, according to figures released on Thursday. US PPI for July showed inflation for businesses rose 0.9% over the prior month, well ahead of the 0.2% increase that was forecast. On an annual basis, prices rose 3.3%, which was also ahead of the 2.5% expected. This data dented investor hopes of a bigger 50-basis-point interest rate cut by the Fed. In addition, Streeter said: "How to bolster productivity in an era of demographic change will also be a big focus of discussions, with labour markets around the world in a state of upheaval as population changes, tougher immigration laws and AI developments are set to be hugely disruptive in the years to come." UK consumer price inflation – Data due out on Wednesday 20 August Following a year-on-year uptick in the UK consumer prices index (CPI) to 3.6% in June from 3.4% in May, Streeter said that there is set to be a "steamier inflation reading for July". "The Bank of England is now forecasting that CPI will hit a peak of 4% in September so, for now, it looks like the only way is up for prices," she said. "Barclaycard data has shown that there was an uplift in card spending in July, especially around events like the Oasis tour," she added. "The hot but stormy weather also led to a spurt in clothing purchases. Wage inflation has remained sticky." Office for National Statistics (ONS) data, released on Tuesday, showed that annual wage growth excluding bonuses came in at 5% in April to June, unchanged from the previous three months. Read more: What are bitcoin ETNs? "Although pay growth has slowed, it's now static and is still outstripping inflation, so there's a risk that firms will pass on heavier costs as higher prices," said Streeter. "Unless there's a marked and unexpected fall in inflation, the Bank of England looks set to stay cautious and delay another interest rate cut at least November or December." Sanjay Raja, senior economist at Deutsche Bank ( said in a note on Friday that his team expect headline CPI to rise to 3.8% in July. "July inflation will likely see price momentum rise further into uncomfortable territory," he said. Walmart (WMT) – Releases second quarter earnings on Thursday 21 August As the largest retailer in the US, Walmart (WMT) is consider to act as a bellwether for consumer health, so it's earnings are closely watched by investors. Shares are up more than 11% year-to-date but edged lower after Walmart released a mixed set of first quarter results in May. Walmart (WMT) posted first quarter revenue of $165.5bn (£122.02bn) , which was up 2.5% from the same period last year, though this missed Wall Street expectations of $166.02bn. Adjusted earnings per share grew 1.7% year over year to $0.61, beating estimates of $0.58. US same-store sales also beat expectations with a 4.5% increase, led by health and wellness, and groceries. However, the retailer signalled that there could be more pain ahead. In an earnings call, Walmart (WMT) CEO Doug McMillon said: "We will do our best to keep our prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins." Stocks: Create your watchlist and portfolio John David Rainey, chief financial officer of Walmart (WMT), said in the earnings release that the company had decided to hold off on providing a specific range of guidance for operating income growth and earnings per share for the second quarter, given the "dynamic nature of the backdrop". Walmart (WMT) did guide to net sales growth of 3.5% to 4.5% for the quarter, based on the $167.8bn it reported a year ago. AJ Bell's (AJB.L) investment director Russ Mould and head of financial analysis Danni Hewson said that analysts expect a headline figure for net sales of $174bn. "That turns into a consensus analysts' forecasts for [net profit in] the second quarter of $5.8bn, and a headline earnings per share (EPS) figure of $0.72, up from $0.67 a year ago," they said. "For the full year to January 2026, Walmart has thus far guided to a net sales increase on a constant currency basis of 3% to 4% and analysts' headline estimate for the top line is $699bn," they added. "Management expects full-year EPS to come in between $2.50 and $2.60, and the current analysts' consensus is $2.58." Palo Alto Networks (PANW) – Releases fourth quarter earnings on Monday 18 August Ahead of the release of its fourth quarter earnings, Palo Alto Networks (PANW) has seen two analyst rating upgrades this week. Analysts at Piper Sandler (PIPR) upgraded their rating on Palo Alto (PANW) to "overweight" and raised their price target on the stock from $200 to $225, according to data gathered by Yahoo Finance. The shares are currently down 4.6% year-to-date, with the stock having closed Thursday's session at $173.55 per share. Deutsche Bank ( also upgraded its rating to a "buy" and raised its price target from $200 to $220. Read more: Stocks that are trending today Brad Zelnick, managing director, software equity research at Deutsche Bank ( said in a note on Wednesday that his team upgraded the stock given its "thoughts on the health of the business, quality of its leadership, and forward prospects for the announced acquisition of CyberArk (CYBR)". Palo Alto (PANW) announced at the end of July that it had agreed to buy Israeli rival CyberArk in a $25bn deal. "With the stock underperforming broader cyber by 15% YTD and 11% since credible speculation of the acquisition, we think investor concerns are overblown," said Zelnick. Shares in the Palo Alto (PANW) came under pressure following the release of its third quarter earnings in May, as the results failed to impress investors. The cybersecurity company's third quarter revenue came in at $2.3bn, just above expectations, while adjusted earnings per share (EPS) were $0.80. For the fourth quarter, Palo Alto (PANW) guided to total revenue in the range of $2.49bn to $2.51bn, representing year-over-year growth of between 14% and 15%. Baidu ( BIDU) – Releases second quarter earnings on Wednesday 20 August In July, Baidu ( BIDU) and ride-hailing app Uber (UBER) announced a multi-year partnership to deploy thousands of the Chinese company's Apollo Go autonomous vehicles on the Uber platform across multiple global markets. The companies said that the first deployments are expected in Asia and the Middle East later this year. Baidu's ( BIDU) Hong Kong-listed shares rose following the news, though the stock is still trading just 5.3% in the green year-to-date. In terms of financial performance, Baidu's ( BIDU) total revenue was up 3% year-on-year in the first quarter to $4.47bn, though adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were down 13% year-on-year at $993m. Read more: EU economic growth slows to 0.2% in second quarter Robin Li, CEO of Baidu ( BIDU), said that 7% growth in the company's core revenue was "driven by the accelerating momentum" of its AI cloud business. "The strong performance of our AI cloud business underscores the growing market recognition of our distinctive strength in providing full-stack AI products and solutions with a highly competitive price-performance advantage," he said. "We also achieved a pivotal milestone in our robotaxi business, as Apollo Go expanded internationally by entering Dubai and Abu Dhabi." "We are confident that our AI-first strategy positions us to remain at the forefront and to capture long-term growth opportunities in the AI era," Li added. Other companies reporting next week include: Monday 18 August BATM Communications (BVC.L) Thungela Resources (TGA.L) Tuesday 19 August IWG (IWG.L) Tribal (TRB.L) BHP (BHP.L) Xiaomi ( Coloplast ( Home Depot (HD) Medtronic (MDT) Amer Sports (AS) Toll Brothers (TOL) Wednesday 20 August OSB (OSB.L) Costain (COST.L) Ithaca Energy (ITH.L) Kenmare Resources (KMR.L) Hong Kong Exchanges ( DFDS ( Lowe's (LOW) Analog Devices (ADI) Estée Lauder (EL) Coty (COTY) Thursday 21 August Hays (HAS.L) Brambles ( AIA ( Aegon ( GN Store Nord ( Tessenderlo ( Zoom Communications (ZM) Dollar Tree (DLTR) Friday 22 August Meituan ( GoldFields ( You can read Yahoo Finance's full calendar here. Read more: Bank of England cuts gilt holdings by £32.5bn in second quarter The most popular stocks and funds investors bought in July UK job market continues to weaken as vacancies fall
Yahoo
4 days ago
- Business
- Yahoo
Finance week ahead: Jackson Hole Symposium, UK inflation, Walmart, Palo Alto Networks and Baidu
Earnings season is winding down but there are still a number of companies due to report, along with key economic data and events on both sides of the Atlantic – including the Jackson Hole Symposium. This year's Jackson Hole Symposium will see central bankers from around the world gather to discuss economic policy – an event that will be closely watched by investors for any signals on the US Federal Reserve's plans for future interest rate cuts. Back in the UK, the focus will be on the latest inflation data, which has been ticking higher over the past couple of months. In terms of earnings releases, investors will be looking at results from US retail giant Walmart (WMT), which is considered a barometer for consumer sentiment. In the tech sector, US cybersecurity giant Palo Alto Networks (PANW) is set to report, with the stock having seen a couple of analyst ratings upgrades this week. China's Baidu ( BIDU) is another major tech company scheduled to report, having recently struck a deal with Uber (UBER) to deploy its autonomous cars on the ride-hailing platform across markets outside of the US and mainland China. Here's more on what to look out for: Jackson Hole Symposium – Takes place from Thursday 21 August to Saturday 23 August The theme for this year's Jackson Hole event is "Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy". This comes amid concerns about a cooling labour market, as economic uncertainty sees firms put off hiring decisions. Central bankers keep a close eye on labour market data, which includes payroll numbers, unemployment rates, job vacancies and wage growth. This data helps inform their decisions on interest rates, as they seek to balance maintaining labour market health, with ensuring inflation continues to ease to the widely used 2% target. This has been more challenging amid fears that US president Donald Trump's tariffs could weigh on economic growth but also drive inflation higher. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Although the effect of Trump's tariffs on monetary policy will be the undercurrent theme, investors will be looking specifically for clues as to the Fed's inclination to cut interest rates going forward." Read more: Analysts' top emerging market fund and trust picks "Bets on a cut in September have increased sharply following a stable inflation reading for July and there will focus on what could lie ahead for borrowing costs," she said. Data released on Tuesday showed that "core" inflation rose 0.3% in July, surpassing June's 0.2% uptick. On an annual basis, the core consumer prices index (CPI) reading came in at 3.1%, up from 2.9% in June. Another inflation measure, the producer price index (PPI) came in hotter than expected in July, according to figures released on Thursday. US PPI for July showed inflation for businesses rose 0.9% over the prior month, well ahead of the 0.2% increase that was forecast. On an annual basis, prices rose 3.3%, which was also ahead of the 2.5% expected. This data dented investor hopes of a bigger 50-basis-point interest rate cut by the Fed. In addition, Streeter said: "How to bolster productivity in an era of demographic change will also be a big focus of discussions, with labour markets around the world in a state of upheaval as population changes, tougher immigration laws and AI developments are set to be hugely disruptive in the years to come." UK consumer price inflation – Data due out on Wednesday 20 August Following a year-on-year uptick in the UK consumer prices index (CPI) to 3.6% in June from 3.4% in May, Streeter said that there is set to be a "steamier inflation reading for July". "The Bank of England is now forecasting that CPI will hit a peak of 4% in September so, for now, it looks like the only way is up for prices," she said. "Barclaycard data has shown that there was an uplift in card spending in July, especially around events like the Oasis tour," she added. "The hot but stormy weather also led to a spurt in clothing purchases. Wage inflation has remained sticky." Office for National Statistics (ONS) data, released on Tuesday, showed that annual wage growth excluding bonuses came in at 5% in April to June, unchanged from the previous three months. Read more: What are bitcoin ETNs? "Although pay growth has slowed, it's now static and is still outstripping inflation, so there's a risk that firms will pass on heavier costs as higher prices," said Streeter. "Unless there's a marked and unexpected fall in inflation, the Bank of England looks set to stay cautious and delay another interest rate cut at least November or December." Sanjay Raja, senior economist at Deutsche Bank ( said in a note on Friday that his team expect headline CPI to rise to 3.8% in July. "July inflation will likely see price momentum rise further into uncomfortable territory," he said. Walmart (WMT) – Releases second quarter earnings on Thursday 21 August As the largest retailer in the US, Walmart (WMT) is consider to act as a bellwether for consumer health, so it's earnings are closely watched by investors. Shares are up more than 11% year-to-date but edged lower after Walmart released a mixed set of first quarter results in May. Walmart (WMT) posted first quarter revenue of $165.5bn (£122.02bn) , which was up 2.5% from the same period last year, though this missed Wall Street expectations of $166.02bn. Adjusted earnings per share grew 1.7% year over year to $0.61, beating estimates of $0.58. US same-store sales also beat expectations with a 4.5% increase, led by health and wellness, and groceries. However, the retailer signalled that there could be more pain ahead. In an earnings call, Walmart (WMT) CEO Doug McMillon said: "We will do our best to keep our prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins." Stocks: Create your watchlist and portfolio John David Rainey, chief financial officer of Walmart (WMT), said in the earnings release that the company had decided to hold off on providing a specific range of guidance for operating income growth and earnings per share for the second quarter, given the "dynamic nature of the backdrop". Walmart (WMT) did guide to net sales growth of 3.5% to 4.5% for the quarter, based on the $167.8bn it reported a year ago. AJ Bell's (AJB.L) investment director Russ Mould and head of financial analysis Danni Hewson said that analysts expect a headline figure for net sales of $174bn. "That turns into a consensus analysts' forecasts for [net profit in] the second quarter of $5.8bn, and a headline earnings per share (EPS) figure of $0.72, up from $0.67 a year ago," they said. "For the full year to January 2026, Walmart has thus far guided to a net sales increase on a constant currency basis of 3% to 4% and analysts' headline estimate for the top line is $699bn," they added. "Management expects full-year EPS to come in between $2.50 and $2.60, and the current analysts' consensus is $2.58." Palo Alto Networks (PANW) – Releases fourth quarter earnings on Monday 18 August Ahead of the release of its fourth quarter earnings, Palo Alto Networks (PANW) has seen two analyst rating upgrades this week. Analysts at Piper Sandler (PIPR) upgraded their rating on Palo Alto (PANW) to "overweight" and raised their price target on the stock from $200 to $225, according to data gathered by Yahoo Finance. The shares are currently down 4.6% year-to-date, with the stock having closed Thursday's session at $173.55 per share. Deutsche Bank ( also upgraded its rating to a "buy" and raised its price target from $200 to $220. Read more: Stocks that are trending today Brad Zelnick, managing director, software equity research at Deutsche Bank ( said in a note on Wednesday that his team upgraded the stock given its "thoughts on the health of the business, quality of its leadership, and forward prospects for the announced acquisition of CyberArk (CYBR)". Palo Alto (PANW) announced at the end of July that it had agreed to buy Israeli rival CyberArk in a $25bn deal. "With the stock underperforming broader cyber by 15% YTD and 11% since credible speculation of the acquisition, we think investor concerns are overblown," said Zelnick. Shares in the Palo Alto (PANW) came under pressure following the release of its third quarter earnings in May, as the results failed to impress investors. The cybersecurity company's third quarter revenue came in at $2.3bn, just above expectations, while adjusted earnings per share (EPS) were $0.80. For the fourth quarter, Palo Alto (PANW) guided to total revenue in the range of $2.49bn to $2.51bn, representing year-over-year growth of between 14% and 15%. Baidu ( BIDU) – Releases second quarter earnings on Wednesday 20 August In July, Baidu ( BIDU) and ride-hailing app Uber (UBER) announced a multi-year partnership to deploy thousands of the Chinese company's Apollo Go autonomous vehicles on the Uber platform across multiple global markets. The companies said that the first deployments are expected in Asia and the Middle East later this year. Baidu's ( BIDU) Hong Kong-listed shares rose following the news, though the stock is still trading just 5.3% in the green year-to-date. In terms of financial performance, Baidu's ( BIDU) total revenue was up 3% year-on-year in the first quarter to $4.47bn, though adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were down 13% year-on-year at $993m. Read more: EU economic growth slows to 0.2% in second quarter Robin Li, CEO of Baidu ( BIDU), said that 7% growth in the company's core revenue was "driven by the accelerating momentum" of its AI cloud business. "The strong performance of our AI cloud business underscores the growing market recognition of our distinctive strength in providing full-stack AI products and solutions with a highly competitive price-performance advantage," he said. "We also achieved a pivotal milestone in our robotaxi business, as Apollo Go expanded internationally by entering Dubai and Abu Dhabi." "We are confident that our AI-first strategy positions us to remain at the forefront and to capture long-term growth opportunities in the AI era," Li added. Other companies reporting next week include: Monday 18 August BATM Communications (BVC.L) Thungela Resources (TGA.L) Tuesday 19 August IWG (IWG.L) Tribal (TRB.L) BHP (BHP.L) Xiaomi ( Coloplast ( Home Depot (HD) Medtronic (MDT) Amer Sports (AS) Toll Brothers (TOL) Wednesday 20 August OSB (OSB.L) Costain (COST.L) Ithaca Energy (ITH.L) Kenmare Resources (KMR.L) Hong Kong Exchanges ( DFDS ( Lowe's (LOW) Analog Devices (ADI) Estée Lauder (EL) Coty (COTY) Thursday 21 August Hays (HAS.L) Brambles ( AIA ( Aegon ( GN Store Nord ( Tessenderlo ( Zoom Communications (ZM) Dollar Tree (DLTR) Friday 22 August Meituan ( GoldFields ( You can read Yahoo Finance's full calendar here. Read more: Bank of England cuts gilt holdings by £32.5bn in second quarter The most popular stocks and funds investors bought in July UK job market continues to weaken as vacancies fall
Reuters
4 days ago
- Business
- Reuters
European shares hit near five-month high, eyes on Trump-Putin talks
Aug 15 (Reuters) - European shares hit a near five-month high on Friday, as investors drew support from a largely positive earnings season, while a meeting between Donald Trump and Vladimir Putin was also in focus. The pan-European STOXX 600 index (.STOXX), opens new tab rose 0.3%, as of 0853 GMT, driven by miners (.SXPP), opens new tab and chemical stocks <.SX4P>. The index was on track for a second week of gains. Most major regional bourses were also in the green, with the UK's FTSE 100 (.FTSE), opens new tab trading at record highs, Germany's benchmark DAX (.GDAX), opens new tab at a one-month high and Spain's IBEX (.IBEX), opens new tab and Italy's FTSE MIB at their highest since 2007. U.S. President Trump and his Russian counterpart Putin will meet later in the day in Alaska, with the U.S. hoping to seal a ceasefire agreement on Ukraine as well as negotiate a possible nuclear deal. "Markets are waiting in particular for a ceasefire. There have been assumptions of that, leading to a certain outperformance of stocks that would benefit from a rebuild of Ukraine," said Uwe Hohmann, equity strategist at Metzler Capital Markets, referring to sectors such as banks and construction materials. Global stocks rose despite a spike in U.S. producer price data reining in expectations of a 50 basis point rate cut from the Federal Reserve next month and weak Chinese economic data pointing to tariff-related impacts. European company earnings have proven resilient, with LSEG I/B/E/S data on Tuesday showing that 54% of companies reporting so far have beaten estimates. Mining stocks (.SXPP), opens new tab were the top gainers on the day, adding 1.4%. Antofagasta (ANTO.L), opens new tab rose 2% after the Chilean miner posted a jump in half-year core earnings on Thursday. Anglo American (AAL.L), opens new tab and Glencore (GLEN.L), opens new tab were both up more than 2%. NKT ( opens new tab jumped 7.6% after the Danish power cable solutions provider updated its full-year financial outlook. The world's biggest supplier of computer chip-making equipment ASML ( opens new tab fell 1.8% after U.S. peer Applied Materials (AMAT.O), opens new tab lowered its fourth-quarter earnings forecasts on weak demand in China and tariff-uncertainty related impacts. The Dutch firm had issued a similar warning in mid-July, saying it might not achieve 2026 growth. Chip stocks BE Semiconductor ( opens new tab and ASMI ( opens new tab dropped 2.5% and 1.9%, respectively. Pandora ( opens new tab was the top laggard on STOXX 600, falling 13.2%, after the Danish jewellery maker flagged weakening sales in its key European markets.
