Latest news with #Nordson
Globe and Mail
3 days ago
- Business
- Globe and Mail
S&P Futures Slip After Trump Hits Out at China, U.S. PCE Inflation Data in Focus
June S&P 500 E-Mini futures (ESM25) are trending down -0.43% this morning after U.S. President Donald Trump accused China of breaching the trade agreement between the two nations. President Trump accused China of violating an agreement with the U.S. to reduce tariffs, escalating tensions between the world's two largest economies. 'China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!' Trump wrote on his social media platform. Investors also grapple with fresh uncertainty surrounding President Trump's tariff policies. A U.S. federal appeals court on Thursday allowed President Trump's tariffs to remain in place while the administration's appeal proceeds. The Trump administration could still win the appeal, but may also pursue alternative measures to implement or maintain tariffs. The Wall Street Journal reported on Thursday that the administration is weighing a temporary measure to impose tariffs on large parts of the global economy using an existing law that permits duties of up to 15% for a duration of 150 days. In yesterday's trading session, Wall Street's major indexes ended in the green. Nvidia (NVDA) rose over +3% after the world's most valuable chipmaker posted better-than-expected Q1 results and gave a solid Q2 revenue forecast. Also, Nordson (NDSN) climbed more than +6% and was the top percentage gainer on the S&P 500 after the industrial technology manufacturer reported upbeat FQ2 results and issued above-consensus FQ3 guidance. In addition, e.l.f. Beauty (ELF) soared over +23% after the cosmetics company reported stronger-than-expected FQ4 results and announced the acquisition of Hailey Bieber's Rhode beauty brand for $1 billion. On the bearish side, HP Inc. (HPQ) slumped more than -8% and was the top percentage loser on the S&P 500 after the personal computer company posted weaker-than-expected FQ2 adjusted EPS and cut its full-year adjusted EPS guidance. The U.S. Bureau of Economic Analysis' second estimate showed on Thursday that the economy contracted at a 0.2% annualized pace in the first quarter, compared with an initially reported 0.3% decline. Also, U.S. April pending home sales fell -6.3% m/m, weaker than expectations of -0.9% m/m and the largest decline in more than 2-1/2 years. In addition, the number of Americans filing for initial jobless claims in the past week rose +14K to 240K, compared with the 229K expected. 'Historic and more current data brought no surprises. Even if that had been the case, the focus would have remained firmly on the here and now — tariffs, courts, China, Nvidia, yields, and equity markets,' said Neil Birrell at Premier Miton Investors. Meanwhile, Fed Chair Jerome Powell met with President Trump at the White House on Thursday. Trump pushed the Fed chief to cut interest rates during their first in-person meeting since the president's inauguration, the White House said. The Fed said policy 'depends entirely on incoming economic information and what that means for the outlook.' Chicago Fed President Austan Goolsbee said on Thursday that a resolution in trade policy could steer the U.S. economy back to its pre-tariff path, paving the way for officials to cut interest rates. 'If you have stable full employment and inflation going to target, rates can come down to where they would eventually settle,' Goolsbee said. Also, San Francisco Fed President Mary Daly said that monetary policy is currently in a 'good place' to keep driving inflation lower. In addition, Dallas Fed President Lorie Logan indicated it could be some time before policymakers understand how the economy will respond to tariffs and other policy shifts and, in turn, how interest rates should be adjusted. U.S. rate futures have priced in a 97.9% chance of no rate change and a 2.1% chance of a 25 basis point rate cut at June's monetary policy meeting. Today, all eyes are focused on the U.S. core personal consumption expenditures price index, the Fed's preferred price gauge, which is set to be released in a couple of hours. Economists, on average, forecast that the core PCE price index will stand at +0.1% m/m and +2.5% y/y in April, compared to the previous figures of unchanged m/m and +2.6% y/y. U.S. Personal Spending and Personal Income data will also be closely monitored today. Economists anticipate April Personal Spending to be +0.2% m/m and Personal Income to be +0.3% m/m, compared to the March figures of +0.7% m/m and +0.5% m/m, respectively. The University of Michigan's U.S. Consumer Sentiment Index will be reported today. Economists expect the final May figure to be revised higher to 51.1 from the preliminary reading of 50.8. U.S. Wholesale Inventories data will come in today. Economists forecast the preliminary April figure at +0.4% m/m, the same as in March. The U.S. Chicago PMI will be released today as well. Economists expect this figure to come in at 45.1 in May, compared to the previous value of 44.6. In addition, market participants will hear perspectives from Atlanta Fed President Raphael Bostic and Chicago Fed President Austan Goolsbee throughout the day. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.434%, up +0.23%. The Euro Stoxx 50 Index is up +0.41% this morning as investors digest positive inflation data and keep a close watch on the outlook for global trade. Real estate and chemical stocks led the gains on Friday, while mining and telecom stocks underperformed. Still, gains were limited amid uncertainty over U.S. tariffs. A U.S. federal appeals court granted President Donald Trump a temporary reprieve from a ruling that threatened to overturn the bulk of his sweeping tariffs. The benchmark index is on track for a healthy monthly and weekly gain. Preliminary data from the National Statistics Institute released on Friday showed that Spain's inflation eased more than expected in May, reinforcing expectations that the European Central Bank will deliver an eighth rate cut at its meeting next week. Separately, data from the Federal Statistical Office showed that Germany's monthly retail sales unexpectedly fell in April. In addition, ECB data showed that bank lending in the Eurozone continued to recover in April. Investors now await preliminary inflation data from Germany due later in the session. Meanwhile, ECB Governing Council member Fabio Panetta said on Friday that while the central bank has less room for additional rate cuts, it should continue to adopt a pragmatic, flexible stance and assess future decisions on a case-by-case basis. In other news, European funds saw inflows of around $1 billion in the week ending May 28th, according to a note from Bank of America that cited EPFR Global data. In corporate news, M&G Plc ( climbed over +6% after reaching a deal with Dai-ichi Life Holdings, under which the Japanese insurer will acquire a 15% stake in the U.K. money manager. Germany's Retail Sales, Spain's CPI (preliminary), Italy's GDP, and Italy's CPI (preliminary) data were released today. The German April Retail Sales came in at -1.1% m/m and +2.3% y/y, compared to expectations of +0.2% m/m and +1.8% y/y. The Spanish May CPI arrived at unchanged m/m and +1.9% y/y, weaker than expectations of +0.1% m/m and +2.1% y/y. The Italian GDP has been reported at +0.3% q/q and +0.7% y/y in the first quarter, compared to expectations of +0.3% q/q and +0.6% y/y. The Italian May CPI stood at unchanged m/m and +1.7% y/y, compared to expectations of +0.1% m/m and +1.7% y/y. Asian stock markets today settled in the red. China's Shanghai Composite Index (SHCOMP) closed down -0.47%, and Japan's Nikkei 225 Stock Index (NIK) closed down -1.22%. China's Shanghai Composite Index closed lower today as renewed concerns over U.S. tariffs weighed on sentiment. A U.S. appeals court on Thursday temporarily reinstated President Donald Trump's sweeping tariffs, reversing an earlier federal court decision that had ruled them illegal. U.S. Treasury Secretary Scott Bessent also said Thursday that trade negotiations with China are 'a bit stalled' and that securing a deal will likely require direct involvement from President Donald Trump and Chinese President Xi Jinping. Shares of Apple's suppliers slumped on Friday after a U.S. court reinstated the tariffs. Also, major electric vehicle makers extended losses amid ongoing price war concerns. At the same time, bank stocks outperformed following news that People's Bank of China Governor Pan Gongsheng will attend the Lujiazui Forum's opening ceremony in Shanghai next month and unveil several major financial policies. Meanwhile, the benchmark index ended the week little changed. In other news, the Financial Times reported that China's largest technology firms have started transitioning to domestically produced chips as they grapple with a shrinking inventory of Nvidia processors and increasingly stringent U.S. export restrictions. In corporate news, Longzhou Group slid over -5% after naming Luo Zhijie as its new chief financial officer. Investors now await China's manufacturing activity data for May, set for release on Saturday, for fresh insights into the health of the economy. Japan's Nikkei 225 Stock Index closed lower today amid continued uncertainty over U.S. tariffs. Sentiment was dampened after a U.S. appeals court decision to temporarily reinstate President Donald Trump's global tariffs. Chip-related and technology stocks led the declines on Friday. Still, the benchmark index ended the week higher. Government data released on Friday showed that core inflation in Japan's capital rose to its highest level in more than two years in May due to persistent increases in food costs, indicating continued nationwide price pressures. Separate data showed that industrial production dropped in April, while retail sales grew at their quickest rate since January. The latest batch of data presented a mixed picture of accelerating inflation and weak industrial output, putting the Bank of Japan in a tough spot as it weighs future rate hikes. Meanwhile, BOJ Governor Kazuo Ueda said on Friday that the central bank is aware that companies are still raising wages and increasing prices to offset higher costs. In other news, Japan's top tariff negotiator Ryosei Akazawa said that he plans to meet U.S. Treasury Secretary Bessent and others for the next round of trade talks on Friday in Washington, though it remains uncertain how close the two sides are to finalizing a deal. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +1.50% to 23.74. The Japanese May Tokyo Core CPI came in at +3.6% y/y, stronger than expectations of +3.5% y/y. The Japanese April Industrial Production (preliminary) stood at -0.9% m/m, stronger than expectations of -1.4% m/m. The Japanese April Retail Sales arrived at +3.3% y/y, stronger than expectations of +2.9% y/y. The Japanese April Unemployment Rate was 2.5%, in line with expectations. Pre-Market U.S. Stock Movers Ulta Beauty (ULTA) climbed more than +7% in pre-market trading after the beauty retailer reported upbeat Q1 results and raised its full-year guidance. Zscaler (ZS) gained over +3% in pre-market trading after the cybersecurity company reported stronger-than-expected FQ3 results and issued solid FY25 guidance. Dell Technologies (DELL) rose over +1% in pre-market trading after the IT giant posted better-than-expected Q1 revenue and raised its full-year profit outlook. Marvell Technology (MRVL) slid more than -4% in pre-market trading after the specialty semiconductor company's Q1 results and Q2 guidance failed to impress investors. Gap Inc. (GAP) plunged over -15% in pre-market trading after the apparel retailer warned investors that tariffs could reduce full-year profit by over $100 million. Today's U.S. Earnings Spotlight: Friday - May 30th Up Fintech (TIGR), Shoe Carnival (SCVL), Cresco Labs (CRLBF), Canopy Growth (CGC), Yatra Online (YTRA).
Yahoo
3 days ago
- Business
- Yahoo
Why Dividend King Nordson's Stock Popped This Week
The industrial conglomerate notched convincing top- and bottom-line beats in its latest quarter. It posted growth in several key divisions during the period. 10 stocks we like better than Nordson › Dividend King Nordson (NASDAQ: NDSN) was looking impressively regal on the stock market over the past few days, thanks largely to quarterly results that satisfied investors. With that tailwind at its back, according to data compiled by S&P Global Market Intelligence, the diversified industrial conglomerate's shares finished the week almost 10% higher in price. Nordson's second quarter of fiscal 2025 earnings release, published following market close on Wednesday, showed that the company's total sales for the period were $683 million, an improvement over the $651 million it booked in the same quarter of fiscal 2024. They also topped the analyst consensus estimate of slightly under $673 million. As for profitability, Nordson netted a non-GAAP (generally accepted accounting principles) adjusted income of $138 million, or $2.42 per share. That was a small increase over the $135 million it posted in the same period the previous year. Again, the figure beat the average pundit projection, in this case $2.36. Management attributed the relatively higher numbers to a variety of factors, not least were robust sales in several key divisions, including electronic systems and precision agriculture. A 5% rise in order backlog also boosted results. Nordson proffered guidance for its current (third) quarter, estimating that it will earn $710 million to $750 million across the period. On the bottom line, adjusted earnings should come in at $2.55 to $2.75 per share. On average, analysts tracking the stock are modeling a top line of barely over $724 million, and adjusted profitability of $2.63 per share. With Nordson, it seems to be a case of "steady as she goes," as the key divisions of the company are performing well, major fundamentals continue to grow, and the company keeps throwing off cash to help fund its constantly rising dividend. It feels like a good and reliable investment to me. Before you buy stock in Nordson, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nordson wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $638,985!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $853,108!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Dividend King Nordson's Stock Popped This Week was originally published by The Motley Fool
Yahoo
3 days ago
- Business
- Yahoo
NDSN Q1 Earnings Call: Revenue Misses Amid Segment Shifts, Guidance Raised for Next Quarter
Manufacturing company Nordson (NASDAQ:NDSN) missed Wall Street's revenue expectations in Q1 CY2025 as sales rose 5% year on year to $682.9 million. Its non-GAAP EPS of $2.42 per share was 2.6% above analysts' consensus estimates. Is now the time to buy NDSN? Find out in our full research report (it's free). Revenue: $682.9 million (5% year-on-year growth) Adjusted EPS: $2.42 vs analyst estimates of $2.36 (2.6% beat) Revenue Guidance for Q2 CY2025 is $730 million at the midpoint, above analyst estimates of $713.5 million Adjusted EPS guidance for Q2 CY2025 is $2.65 at the midpoint, above analyst estimates of $2.58 Adjusted EBITDA Margin: 31.8% Organic Revenue fell 2.4% year on year (-3.7% in the same quarter last year) Market Capitalization: $11.14 billion Nordson's first quarter results reflected a mix of acquisition-driven growth and ongoing challenges in select legacy segments. CEO Sundaram Nagarajan highlighted that momentum in Advanced Technology Systems, particularly from semiconductor and electronics customers, and the solid performance of the recently acquired Atrion business helped offset organic revenue declines elsewhere. Management also pointed to continued softness in industrial system sales, especially within industrial coatings and polymer processing, citing weaker end-market demand compared to last year. The company's operational focus and cost discipline supported margin expansion, with Nagarajan noting that the integration of Atrion was exceeding expectations and contributing positively to both sales and profitability. Looking ahead, Nordson's guidance for the next quarter is underpinned by sustained demand in electronics and semiconductor markets, an improving outlook for medical fluid components, and incremental benefits from restructuring actions. Nagarajan emphasized, 'We are seeing positive order entry momentum in electronics, precision agriculture, and select medical product lines,' suggesting this will drive sequential improvement. Management expects the effects of destocking in medical interventional products to continue fading, while recent divestitures are anticipated to sharpen the company's focus on higher-margin offerings. However, CFO Daniel Hopgood cautioned that ongoing trade policy uncertainties and automotive market headwinds could still impact customer investment decisions, indicating the outlook remains sensitive to external factors. Management attributed the quarter's performance to strong contributions from recent acquisitions and targeted restructuring, even as some core segments continued to face demand headwinds. Atrion acquisition outperformance: The Atrion medical components business delivered higher-than-anticipated sales and margin contribution, with CEO Nagarajan noting 'customer adoption of Atrion's differentiated products' and successful operational integration exceeding initial projections. Advanced Technology momentum: Demand in the Advanced Technology Systems (ATS) segment was fueled by investments in next-generation computing, AI, and cloud infrastructure, with over half of ATS revenue now tied to semiconductor and high-performance computing. Management credited strong order entry, particularly from Asian customers, as a key driver. Industrial segment softness persists: The Industrial Precision Solutions (IPS) business saw continued weakness, mostly in industrial coatings and polymer processing tied to automotive end markets. However, the precision agriculture (ARAG) and nonwovens systems lines posted double-digit growth, partially offsetting declines. Medical segment portfolio reshaping: The announced divestiture of select medical contract manufacturing product lines is expected to increase the medical segment's focus on proprietary components, improve margin profile by an estimated 100 basis points, and free resources for core growth areas. Operational cost actions: Targeted restructuring across underperforming businesses and the completion of major facility transitions are anticipated to yield over $50 million in annual savings by 2026, supporting margin resilience despite mixed demand. Management's outlook centers on continued demand in electronics and medical components, as well as incremental margin benefits from portfolio optimization and restructuring. Electronics and semiconductor growth: Ongoing investment in semiconductor manufacturing, AI-related computing, and cloud infrastructure is expected to sustain strong order trends in the ATS segment. Management sees Asian markets as the primary near-term growth engine, with North American opportunities still to come. Medical segment recovery and focus: The medical segment's organic growth is expected to recover as destocking abates and the segment pivots toward higher-value, proprietary components following the contract manufacturing divestiture. Atrion's product pipeline and integration are anticipated to further boost segment performance. Restructuring and external risks: Cost structure improvements from recent restructuring and facility consolidation are projected to protect margins. However, management remains watchful of macroeconomic uncertainty, including trade policy changes and persistent automotive sector weakness, which could affect customer investments and order timing. In the coming quarters, the StockStory team will be closely monitoring (1) the trajectory of order entry in Advanced Technology Systems—especially semiconductor and electronics demand, (2) the pace of recovery in medical components as destocking trends unwind, and (3) the impact of portfolio reshaping on segment margins and overall profitability. Execution on restructuring savings and resilience to external market shifts will also be key to tracking Nordson's progress. Nordson currently trades at a forward P/E ratio of 20.1×. In the wake of earnings, is it a buy or sell? Find out in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. 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
Globe and Mail
4 days ago
- Business
- Globe and Mail
S&P Futures Tick Lower on Renewed Tariff Concerns, U.S. PCE Inflation Data in Focus
June S&P 500 E-Mini futures (ESM25) are trending down -0.17% this morning as investors grappled with fresh uncertainty surrounding U.S. President Donald Trump's tariff policies and looked ahead to the release of the Federal Reserve's first-line inflation gauge. A U.S. federal appeals court on Thursday allowed President Trump's tariffs to remain in place while the administration's appeal proceeds. Also, the Wall Street Journal reported on Thursday that the Trump administration is weighing a temporary measure to impose tariffs on large parts of the global economy using an existing law that permits duties of up to 15% for a duration of 150 days. In yesterday's trading session, Wall Street's major indexes ended in the green. Nvidia (NVDA) rose over +3% after the world's most valuable chipmaker posted better-than-expected Q1 results and gave a solid Q2 revenue forecast. Also, Nordson (NDSN) climbed more than +6% and was the top percentage gainer on the S&P 500 after the industrial technology manufacturer reported upbeat FQ2 results and issued above-consensus FQ3 guidance. In addition, e.l.f. Beauty (ELF) soared over +23% after the cosmetics company reported stronger-than-expected FQ4 results and announced the acquisition of Hailey Bieber's Rhode beauty brand for $1 billion. On the bearish side, HP Inc. (HPQ) slumped more than -8% and was the top percentage loser on the S&P 500 after the personal computer company posted weaker-than-expected FQ2 adjusted EPS and cut its full-year adjusted EPS guidance. The U.S. Bureau of Economic Analysis' second estimate showed on Thursday that the economy contracted at a 0.2% annualized pace in the first quarter, compared with an initially reported 0.3% decline. Also, U.S. April pending home sales fell -6.3% m/m, weaker than expectations of -0.9% m/m and the largest decline in more than 2-1/2 years. In addition, the number of Americans filing for initial jobless claims in the past week rose +14K to 240K, compared with the 229K expected. 'Historic and more current data brought no surprises. Even if that had been the case, the focus would have remained firmly on the here and now — tariffs, courts, China, Nvidia, yields, and equity markets,' said Neil Birrell at Premier Miton Investors. Meanwhile, Fed Chair Jerome Powell met with President Trump at the White House on Thursday. Trump pushed the Fed chief to cut interest rates during their first in-person meeting since the president's inauguration, the White House said. The Fed said policy 'depends entirely on incoming economic information and what that means for the outlook.' Chicago Fed President Austan Goolsbee said on Thursday that a resolution in trade policy could steer the U.S. economy back to its pre-tariff path, paving the way for officials to cut interest rates. 'If you have stable full employment and inflation going to target, rates can come down to where they would eventually settle,' Goolsbee said. Also, San Francisco Fed President Mary Daly said that monetary policy is currently in a 'good place' to keep driving inflation lower. U.S. rate futures have priced in a 97.9% chance of no rate change and a 2.1% chance of a 25 basis point rate cut at June's monetary policy meeting. Today, all eyes are focused on the U.S. core personal consumption expenditures price index, the Fed's preferred price gauge, which is set to be released in a couple of hours. Economists, on average, forecast that the core PCE price index will stand at +0.1% m/m and +2.5% y/y in April, compared to the previous figures of unchanged m/m and +2.6% y/y. U.S. Personal Spending and Personal Income data will also be closely monitored today. Economists anticipate April Personal Spending to be +0.2% m/m and Personal Income to be +0.3% m/m, compared to the March figures of +0.7% m/m and +0.5% m/m, respectively. The University of Michigan's U.S. Consumer Sentiment Index will be reported today. Economists expect the final May figure to be revised higher to 51.1 from the preliminary reading of 50.8. U.S. Wholesale Inventories data will come in today. Economists forecast the preliminary April figure at +0.4% m/m, the same as in March. The U.S. Chicago PMI will be released today as well. Economists expect this figure to come in at 45.1 in May, compared to the previous value of 44.6. In addition, market participants will hear perspectives from Atlanta Fed President Raphael Bostic and Chicago Fed President Austan Goolsbee throughout the day. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.434%, up +0.23%. The Euro Stoxx 50 Index is up +0.41% this morning as investors digest positive inflation data and keep a close watch on the outlook for global trade. Real estate and chemical stocks led the gains on Friday, while mining and telecom stocks underperformed. Still, gains were limited amid uncertainty over U.S. tariffs. A U.S. federal appeals court granted President Donald Trump a temporary reprieve from a ruling that threatened to overturn the bulk of his sweeping tariffs. The benchmark index is on track for a healthy monthly and weekly gain. Preliminary data from the National Statistics Institute released on Friday showed that Spain's inflation eased more than expected in May, reinforcing expectations that the European Central Bank will deliver an eighth rate cut at its meeting next week. Separately, data from the Federal Statistical Office showed that Germany's monthly retail sales unexpectedly fell in April. In addition, ECB data showed that bank lending in the Eurozone continued to recover in April. Investors now await preliminary inflation data from Germany due later in the session. Meanwhile, ECB Governing Council member Fabio Panetta said on Friday that while the central bank has less room for additional rate cuts, it should continue to adopt a pragmatic, flexible stance and assess future decisions on a case-by-case basis. In other news, European funds saw inflows of around $1 billion in the week ending May 28th, according to a note from Bank of America that cited EPFR Global data. In corporate news, M&G Plc ( climbed over +6% after reaching a deal with Dai-ichi Life Holdings, under which the Japanese insurer will acquire a 15% stake in the U.K. money manager. Germany's Retail Sales, Spain's CPI (preliminary), Italy's GDP, and Italy's CPI (preliminary) data were released today. The German April Retail Sales came in at -1.1% m/m and +2.3% y/y, compared to expectations of +0.2% m/m and +1.8% y/y. The Spanish May CPI arrived at unchanged m/m and +1.9% y/y, weaker than expectations of +0.1% m/m and +2.1% y/y. The Italian GDP has been reported at +0.3% q/q and +0.7% y/y in the first quarter, compared to expectations of +0.3% q/q and +0.6% y/y. The Italian May CPI stood at unchanged m/m and +1.7% y/y, compared to expectations of +0.1% m/m and +1.7% y/y. Asian stock markets today settled in the red. China's Shanghai Composite Index (SHCOMP) closed down -0.47%, and Japan's Nikkei 225 Stock Index (NIK) closed down -1.22%. China's Shanghai Composite Index closed lower today as renewed concerns over U.S. tariffs weighed on sentiment. A U.S. appeals court on Thursday temporarily reinstated President Donald Trump's sweeping tariffs, reversing an earlier federal court decision that had ruled them illegal. U.S. Treasury Secretary Scott Bessent also said Thursday that trade negotiations with China are 'a bit stalled' and that securing a deal will likely require direct involvement from President Donald Trump and Chinese President Xi Jinping. Shares of Apple's suppliers slumped on Friday after a U.S. court reinstated the tariffs. Also, major electric vehicle makers extended losses amid ongoing price war concerns. At the same time, bank stocks outperformed following news that People's Bank of China Governor Pan Gongsheng will attend the Lujiazui Forum's opening ceremony in Shanghai next month and unveil several major financial policies. Meanwhile, the benchmark index ended the week little changed. In other news, the Financial Times reported that China's largest technology firms have started transitioning to domestically produced chips as they grapple with a shrinking inventory of Nvidia processors and increasingly stringent U.S. export restrictions. In corporate news, Longzhou Group slid over -5% after naming Luo Zhijie as its new chief financial officer. Investors now await China's manufacturing activity data for May, set for release on Saturday, for fresh insights into the health of the economy. Japan's Nikkei 225 Stock Index closed lower today amid continued uncertainty over U.S. tariffs. Sentiment was dampened on Friday after a U.S. appeals court decision to temporarily reinstate President Donald Trump's global tariffs. Chip-related and technology stocks led the declines on Friday. Still, the benchmark index ended the week higher. Government data released on Friday showed that core inflation in Japan's capital rose to its highest level in more than two years in May due to persistent increases in food costs, indicating continued nationwide price pressures. Separate data showed that industrial production dropped in April, while retail sales grew at their quickest rate since January. The latest batch of data presented a mixed picture of accelerating inflation and weak industrial output, putting the Bank of Japan in a tough spot as it weighs future rate hikes. Meanwhile, BOJ Governor Kazuo Ueda said on Friday that the central bank is aware that companies are still raising wages and increasing prices to offset higher costs. In other news, Japan's top tariff negotiator Ryosei Akazawa said that he plans to meet U.S. Treasury Secretary Bessent and others for the next round of trade talks on Friday in Washington, though it remains uncertain how close the two sides are to finalizing a deal. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +1.50% to 23.74. The Japanese May Tokyo Core CPI came in at +3.6% y/y, stronger than expectations of +3.5% y/y. The Japanese April Industrial Production (preliminary) stood at -0.9% m/m, stronger than expectations of -1.4% m/m. The Japanese April Retail Sales arrived at +3.3% y/y, stronger than expectations of +2.9% y/y. The Japanese April Unemployment Rate was 2.5%, in line with expectations. Pre-Market U.S. Stock Movers Dell Technologies (DELL) rose over +1% in pre-market trading after the IT giant posted better-than-expected Q1 revenue and raised its full-year profit outlook. Marvell Technology (MRVL) slid more than -4% in pre-market trading after the specialty semiconductor company's Q1 results and Q2 guidance failed to impress investors. Today's U.S. Earnings Spotlight: Friday - May 30th Up Fintech (TIGR), Shoe Carnival (SCVL), Cresco Labs (CRLBF), Canopy Growth (CGC), Yatra Online (YTRA).
Business Insider
4 days ago
- Business
- Business Insider
Nordson (NDSN) Gets a Hold from Jefferies
In a report released today, Saree Boroditsky from Jefferies maintained a Hold rating on Nordson (NDSN – Research Report), with a price target of $230.00. The company's shares closed today at $208.97. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Boroditsky is a 3-star analyst with an average return of 4.9% and a 54.64% success rate. Boroditsky covers the Industrials sector, focusing on stocks such as Rockwell Automation, Emerson Electric Company, and GE Aerospace. Nordson has an analyst consensus of Moderate Buy, with a price target consensus of $255.00. The company has a one-year high of $266.86 and a one-year low of $165.03. Currently, Nordson has an average volume of 364.7K.
