Latest news with #S&P
Globe and Mail
an hour ago
- Business
- Globe and Mail
Primerica Schedules Second Quarter 2025 Financial Results Webcast
Primerica, Inc. (NYSE:PRI) announced today that it will hold a webcast on Thursday, August 7, 2025, at 10:00 a.m. (ET) to discuss the Company's results for the quarter ended June 30, 2025, as well as other business-related matters, including future expectations. A news release announcing the quarter's results will be distributed after the close of the market on Wednesday, August 6, 2025. The earnings news release, financial supplement and live webcast will be available on the Primerica Investors website at A replay of the call will be available for approximately 30 days. About Primerica, Inc. Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial products and services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. We insured over 5.5 million lives and had approximately 3.0 million client investment accounts on December 31, 2024. Primerica, through its insurance company subsidiaries, was the #3 issuer of Term Life insurance coverage in the United States and Canada in 2024. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol 'PRI'.
TimesLIVE
7 hours ago
- Business
- TimesLIVE
Senegal working on rebasing country's GDP, says finance ministry
Senegal has begun recalculating its gross domestic product using an updated base year in a move that could result in an improvement in its debt metrics, its finance ministry said on Tuesday in response to a credit rating downgrade. Senegal revealed last year it had billions of dollars of previously unreported debt, leading the International Monetary Fund (IMF) to suspend its lending programme and triggering a series of ratings downgrades and a sharp selloff in its government bond market. The IMF is awaiting final details on the extent of the misreporting and how it was able to take place before possibly restarting its programme with the West African nation. "While the [Senegalese] authorities have expressed their intention to rebase GDP, this is not a prerequisite for progressing in our engagement," said the IMF via a spokesperson. "The timing of a potential Board meeting will depend on the progress made in resolving the misreporting issue and reaching agreement on key policy measures." The government has been working on a "GDP rebasing exercise" the finance ministry said in a statement, the results of which are expected to be published in the coming months. "This exercise, which has been in preparation for some time, will provide a more accurate picture of the size of the Senegalese economy by adopting a scope aligned with its level of economic development," the ministry said, without providing an estimate of the likely revision. Updating the base year that a country uses to calculate its economic output is an internationally accepted practice. It is meant to take into account new emerging industries and other developments, but it can raise questions among economists when it results in big debt-to-GDP improvements. The finance ministry statement was responding to a credit rating downgrade by S&P late on Monday, in which the agency warned that the government's debt-to-GDP ratio had jumped to almost 120%. S&P debt figures had not taken account of the potential impact of the ongoing rebasing exercise, however, the finance ministry said. Senegal's international bonds , which have lost over a quarter of their value since September's hidden debt announcements, rose following the government's response to the ratings downgrade. The country's 2033 maturity climbed by almost 1.6 cents to 66 cents on the dollar — a third below its face value. Senegal's finance ministry did not respond to requests for comments on the GDP rebasing plan. Some observers remained sceptical of the long-term effectiveness of the exercise. "It will flatter the debt-to-GDP ratio but gross financing needs will remain elevated," said Kevin Daly, portfolio manager for emerging debt at Aberdeen Investments in London. Aurelie Martin, emerging market fixed income analyst at Ninety One, said Senegal's long-term stability will also require it to ensure revenue and foreign exchange generation. "A higher GDP mechanically results in a lower debt-to-GDP ratio, which is undoubtedly positive. It is not, however, a silver bullet," she said.
Business Standard
9 hours ago
- Business
- Business Standard
Sensex and Nifty inch ahead amid blurry global signals
Equity benchmarks ended with modest gains on Tuesday, with the Nifty closing above the 25,200 mark. PSU banks and IT stocks attracted buying interest, while metal and pharma shares faced selling pressure. However, sentiment remained cautious amid renewed concerns over rising U.S. inflation and lingering uncertainty over trade tariffs. The S&P BSE Sensex jumped 63.57 points or 0.08% to 82,634.48. The Nifty 50 index added 16.25 points or 0.06% to 25,212.05. Mahindra & Mahindra (up 2.10%), State Bank of India (up 1.81%) and Infosys (up 1.50%) boosted the indices. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.28%. The market breadth was positive. On the BSE, 2,338 shares rose and 1,718 shares fell. A total of 163 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 2.09% to 11.24. Numbers to Track: The yield on India's 10-year benchmark federal paper rose 0.03% to 6.315 from the previous close of 6.312. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.9500 compared with its close of 85.7625 during the previous trading session. MCX Gold futures for 5 August 2025 settlement rose 0.24% to Rs 97,441. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.06% to 98.57. The United States 10-year bond yield shed 0.31% to 4.477. In the commodities market, Brent crude for September 2025 settlement shed 24 cents or 0.35% to $68.47 a barrel. Global Markets: European market advanced on Wednesday despite the U.K.'s annual inflation rate stood at 3.6% in June, according to data released by the Office for National Statistics (ONS), compared with 3.4% in May. Most Asian markets ended lower after US President Donald Trump claimed a preliminary trade deal with Indonesia, which surprisingly includes a 19% tariff on the countrys exports to the US. Indonesias central bank cuts the benchmark rate by 25 bps to 5.25%. Governor Perry Warjiyo said the central bank would continue to observe room for more rate cuts, citing an expectation of low inflation through 2026, a stable rupiah and a bleak global economic outlook. Back in the US, stocks ended mostly lower on Tuesday despite early gains in tech. The S&P 500 slipped 0.4% and the Dow tumbled 0.98%, while the Nasdaq eked out a modest 0.18% rise. Both the S&P 500 and Nasdaq briefly touched record highs before retreating. June's consumer price index came in slightly hotter than expected, reigniting concerns that fresh tariffs could add more heat to inflation. According to the Bureau of Labor Statistics, consumer prices rose 2.7% year-on-year and climbed 0.3% between May and June. The data bolstered expectations that the Federal Reserve will hold off on any rate cuts for now. Tariff jitters were far from over. Trump doubled down Tuesday evening, confirming that his proposed 200% tariffs on pharmaceutical imports will kick in by month-end, alongside a broader package of trade levies. Earlier, he announced a 30% tariff on imports from Mexico and the EU. The European Union pushed back sharply and is reportedly preparing retaliatory tariffs on US products, including cars and alcohol. In earnings land, Wall Streets biggest banks kicked off the season with a bang. JPMorgan Chase, Citigroup, and Wells Fargo all topped Q2 profit estimates, thanks to solid performance in both consumer and investment banking segments. Stocks in Spotlight: State Bank of India (SBI) rose 1.81% after the lender announced that its Central Board has approved raising up to Rs 20,000 crore through Basel III compliant Additional Tier 1 and Tier 2 bonds in FY26. ITC Hotels surged 4.49% after the company reported 53.4% increase in consolidated net profit to Rs 133.10 crore on a 15.5% rise in revenue from operations to Rs 815.54 crore in Q1 FY26 as compared with Q1 FY25. HDFC Bank ended almost flat after the lender announced that its board will meet on Saturday, 19 July 2025, to consider a special interim dividend and a bonus share issue. HDB Financial Services slipped 3.13% after the company reported a 2.40% decline in net profit to Rs 567.70 crore, despite a 14.97% increase in total revenue from operations to Rs 4,465.40 crore in Q1 FY26 compared to Q1 FY25. HDFC Life Insurance Company shed 0.13% after the companys standalone net profit jumped 14.40% to Rs 546.46 crore on 15.63% increase in net premium income to Rs 14,466.09 crore in Q1 FY26 over Q1 FY25. Dixon Technologies (India) rose 1.76% after the company announced two major strategic agreements aimed at strengthening its presence in Indias electronics component ecosystem. In the first deal, the company signed a binding term sheet to acquire a 51% stake in Q Tech India. Further, the company also entered into a binding term sheet with Chongqing Yuhai Precision Manufacturing Co. to form a joint venture in India. Under the proposed structure, Dixon will hold a 74% stake, while Chongqing will own 26%. Network 18 Media & Investments jumped 13.18% after the company reported a standalone net profit of Rs 516.17 crore in Q1 FY26 as against a net loss of Rs 74.65 crore posted in Q1 FY25. However, revenue from operations tanked 4.9% year-on-year (YoY) to Rs 430.40 crore in the quarter ended 30 June 2025. Onward Technologies hit the 5% upper circuit. The companys consolidated net profit rose 20.1% quarter-on-quarter (QoQ) to Rs 12.7 crore, while revenue from operations grew 4.6% to Rs 133.2 crore during the June 2025 quarter. Total revenue stood at Rs 135.6 crore, reflecting a 4.3% sequential and 13.6% year-on-year (YoY) increase. On a YoY basis, net profit surged 79.3%, backed by healthy margin expansion, consistent top-line growth, and operational efficiency. Profit before tax jumped 25.4% QoQ and 64.2% YoY to Rs 15.9 crore. Geojit Financial Services tanked 7.53% after the company posted 37.81% decline in consolidated net profit to Rs 27.68 crore on a 15.41% fell in total income to Rs 153.15 crore in Q1 FY26 over Q1 FY25. ICICI Lombard General Insurance Company declined 1.25%. The company reported standalone net profit of Rs 747.08 crore in Q1 FY26, up 28.72% as against Rs 580.37 crore posted in Q1 FY25. Total income rose 13.66% year on year to Rs 6,083.36 crore in the quarter ended 30 June 2025. Just Dial tumbled 4.95%. The company reported a 13.05% jump in standalone net profit to Rs 159.65 crore on a 6.16% increase in revenue from operations to Rs 297.86 crore in Q1 FY26 over Q1 FY25. Jindal Steel & Power (JSPL) fell 1.22% after the company announced that its chief financial officer, Mayank Gupta, has stepped down from his role, effective post business hours on 15 July 2025. Hathway Cable & Datacom jumped 6.28% after the companys consolidated net profit surged 68.92% to Rs 31.03 on a 5.55% increase in revenue from operations to Rs 530.50 crore in Q1 FY26 over Q1 FY25. IPO Update: The initial public offer (IPO) of Anthem Biosciences received bids for 2,81,37,78,266 shares as against 4,40,70,682 shares on offer, according to stock exchange data at 16:54 IST on Wednesday (16 July 2025). The issue was subscribed 63.85 times. The issue opened for bidding on Monday (14 July 2025) and it will close on Wednesday (16 July 2025). The price band of the IPO is fixed between Rs 540 and 570 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.
Business Standard
10 hours ago
- Business
- Business Standard
Barometers end near flat line; Nifty closes above 25,200 mark
The key benchmark indices ended with small gains today, witnessing mild buying interest despite Donald Trump announced a 19% tariff on products that Indonesia sells to the United States. Further Trump said that US will have access to India, on similar lines as Indonesia-US trade deal. Investors will monitor the tariff development, and ongoing corporate earnings. Nifty settled above the 25,200 mark. PSU Bank, media and IT shares advanced while metal and pharma shares declined. As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 63.57 points or 0.08% to 82,634.48. The Nifty 50 index added 16.25 points or 0.06% to 25,212.05. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.10% and the S&P BSE Small-Cap index added 0.28%. The market breadth was negative. On the BSE, 1,915 shares rose and 1,969 shares fell. A total of 208 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 2.09% to 11.24. IPO Update: The initial public offer (IPO) of Anthem Biosciences received bids for 2,60,65,94,640 shares as against 4,40,70,682 shares on offer, according to stock exchange data at 15:39 IST on Wednesday (16 July 2025). The issue was subscribed 59.15 times. The issue opened for bidding on Monday (14 July 2025) and it will close on Wednesday (16 July 2025). The price band of the IPO is fixed between Rs 540 and 570 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof. Buzzing Index: The Nifty PSU Bank index jumped 1.81% to 7,267.20. The Index jumped 3.44% for the three straight trading sessions. Punjab National Bank (up 2.06%), Punjab & Sind Bank (up 2.02%), Canara Bank (up 1.98%), Indian Overseas Bank (up 1.92%) and Bank of Baroda (up 1.91%), UCO Bank (up 1.88%), Bank of India (up 1.82%), State Bank of India (up 1.72%), Union Bank of India (up 1.29%) and Indian Bank (up 1.22%) surged. Stocks in Spotlight: Network 18 Media & Investments jumped 11.17% after the company reported a standalone net profit of Rs 516.17 crore in Q1 FY26 as against a net loss of Rs 74.65 crore posted in Q1 FY25. However, revenue from operations tanked 4.9% year-on-year (YoY) to Rs 430.40 crore in the quarter ended 30 June 2025. ICICI Lombard General Insurance Company declined 1.25%. The company reported standalone net profit of Rs 747.08 crore in Q1 FY26, up 28.72% as against Rs 580.37 crore posted in Q1 FY25. Total income rose 13.66% year on year to Rs 6,083.36 crore in the quarter ended 30 June 2025. Just Dial tumbled 4.90%. The company reported a 13.05% jump in standalone net profit to Rs 159.65 crore on a 6.16% increase in revenue from operations to Rs 297.86 crore in Q1 FY26 over Q1 FY25. HDB Financial Services slipped 2.94% after the company reported a 2.40% decline in net profit to Rs 567.70 crore, despite a 14.97% increase in total revenue from operations to Rs 4,465.40 crore in Q1 FY26 compared to Q1 FY25. HDFC Life Insurance Company shed 0.17% after the companys standalone net profit jumped 14.40% to Rs 546.46 crore on 15.63% increase in net premium income to Rs 14,466.09 crore in Q1 FY26 over Q1 FY25. Jindal Steel & Power (JSPL) fell 1.22% after the company announced that its chief financial officer, Mayank Gupta, has stepped down from his role, effective post business hours on 15 July 2025. Hathway Cable & Datacom jumped 5.45% after the companys consolidated net profit surged 68.92% to Rs 31.03 on a 5.55% increase in revenue from operations to Rs 530.50 crore in Q1 FY26 over Q1 FY25. State Bank of India (SBI) rose 1.81% after the lender announced that its Central Board has approved raising up to Rs 20,000 crore through Basel III compliant Additional Tier 1 and Tier 2 bonds in FY26. Dixon Technologies (India) rose 1.76% after the company announced two major strategic agreements aimed at strengthening its presence in Indias electronics component ecosystem. In the first deal, the company signed a binding term sheet to acquire a 51% stake in Q Tech India. Further, the company also entered into a binding term sheet with Chongqing Yuhai Precision Manufacturing Co. to form a joint venture in India. Under the proposed structure, Dixon will hold a 74% stake, while Chongqing will own 26%. Global Markets: European market advanced despite U.K.s annual inflation rate stood at 3.6% in June, according to data released by the Office for National Statistics (ONS) on Wednesday, compared with 3.4% in May. Most Asian markets ended lower on Wednesday after US President Donald Trump claimed a preliminary trade deal with Indonesia, which surprisingly includes a 19% tariff on the countrys exports to the US. Indonesias central bank cuts benchmark rate by 25 bps to 5.25%. Governor Perry Warjiyo said the central bank would continue to observe room for more rate cuts, citing an expectation of low inflation through to 2026, a stable rupiah and bleak global economic outlook. Back in the US, stocks ended mostly lower on Tuesday despite early gains in tech. The S&P 500 slipped 0.4% and the Dow tumbled 0.98%, while the Nasdaq eked out a modest 0.18% rise. Both the S&P 500 and Nasdaq briefly touched record highs before retreating. June's consumer price index came in slightly hotter than expected, reigniting concerns that fresh tariffs could add more heat to inflation. According to the Bureau of Labor Statistics, consumer prices rose 2.7% year-on-year and climbed 0.3% between May and June. The data bolstered expectations that the Federal Reserve will hold off on any rate cuts for now. Tariff jitters were far from over. Trump doubled down Tuesday evening, confirming that his proposed 200% tariffs on pharmaceutical imports will kick in by month-end, alongside a broader package of trade levies. Earlier, he announced a 30% tariff on imports from Mexico and the EU. The European Union pushed back sharply and is reportedly preparing retaliatory tariffs on US products including cars and alcohol. In earnings land, Wall Streets biggest banks kicked off the season with a bang. JPMorgan Chase, Citigroup, and Wells Fargo all topped Q2 profit estimates, thanks to solid performance in both consumer and investment banking segments.
Forbes
11 hours ago
- Business
- Forbes
What To Expect From Freeport-McMoRan Stock's Q2?
CHONGQING, CHINA - APRIL 20: In this photo illustration, the Freeport-McMoRan logo is displayed on a ... More smartphone screen, with the company's blue and black branding visible in the background, on April 20, 2025, in Chongqing, China. (Photo illustration by) Freeport-McMoRan (NYSE:FCX) is scheduled to announce its earnings on Wednesday, July 23, 2025. The consensus earnings are estimated to be approximately $0.44 per share, and revenues are projected to rise by nearly 5% compared to the same quarter last year. This growth is anticipated to be fueled by higher copper prices and consistent production, especially from its Grasberg mine. Additionally, there could be extra advantages if U.S. tariffs on imported copper are implemented. Nonetheless, challenges persist due to copper price fluctuations and operational challenges in Indonesia. Overall, forecasts indicate moderate earnings growth and the possibility for upside if commodity prices and policy developments align. On a different note, can oil foster peace? See – Trump's Russia Math, Simplified. The company currently has a market capitalization of $65 billion. Over the past twelve months, it generated revenues of $25 billion and achieved operational profitability with $6.5 billion in operating profits and a net income of $1.8 billion. Therefore, if you are looking for upside with lower volatility than individual stocks, the Trefis High Quality portfolio offers an alternative – having outperformed the S&P 500 and produced returns exceeding 91% since its inception. See earnings reaction history of all stocks Freeport-McMoRan's Historical Odds Of Positive Post-Earnings Return Some insights on one-day (1D) post-earnings returns: Additional data for observed 5-Day (5D) and 21-Day (21D) returns following earnings are summarized along with the statistics in the table below. FCX 1D, 5D, and 21D Post Earnings Return Correlation Between 1D, 5D, and 21D Historical Returns A relatively lower-risk approach (though not effective if the correlation is weak) is to analyze the correlation between short-term and medium-term returns after earnings, identify a pair with the strongest correlation, and carry out the corresponding trade. For instance, if 1D and 5D demonstrate the highest correlation, a trader could position themselves "long" for the next 5 days if the 1D post-earnings return is positive. Here is some correlation data based on the 5-year and 3-year (more recent) history. Note that "correlation 1D_5D" refers to the relationship between 1D post-earnings returns and subsequent 5D returns. FCX Correlation Between 1D, 5D, and 21D Historical Returns Learn more about Trefis RV strategy that has outperformed its all-cap stocks benchmark (a combination of all 3, the S&P 500, S&P mid-cap, and Russell 2000), producing strong returns for investors. Additionally, if you are looking for upside with a smoother experience than an individual stock like Freeport-McMoRan, consider the High Quality portfolio, which has outperformed the S&P and achieved >91% returns since inception.
