Canadian banks are set to report their first quarter earnings with investors and analysts alike looking out for insights into the impact of ongoing tariff concerns on growth and credit outlooks.
Canadian bank stocks have declined 2.1% since US President Donald Trump first threatened tariffs against the country but the broader investment case remains intact, analysts at Bank of America (BofA) believe.
Apple Inc (NASDAQ:AAPL, ETR:APC) has launched the Apple TV+ app on Android, a move analysts at Bank of America believe could potentially open a large revenue stream for the iPhone maker.
They see the benefits going beyond an immediate revenue and earnings per share (EPS) impact.
Rivian Automotive Inc (NASDAQ:RIVN) reported a first-ever gross profit of $170 million in the fourth quarter of fiscal year 2024, surpassing analysts' expectations with total revenue of $1.73 billion, driven by strong demand for its updated product lineup and increased software and services revenue.
The electric vehicle (EV) manufacturer attributed its positive gross profit to a $31,000 reduction in the cost of goods sold per vehicle and an increase in average selling price to $86,000, reflecting higher sales of its premium R1 and tri-motor models.
Block Inc (NYSE:SQ) shares tumbled more than 10% before Friday’s opening bell as the company’s fourth quarter earnings fell short of Wall Street expectations.
The financial services and digital payments firm, formerly known as Square, reported earnings per share of $0.71. This marked a 51% year-over-year improvement but missed estimates of $0.88.
The more than 40% drop in Ceres Power Holdings PLC's (LSE:CWR, OTC:CPWHF) share price may be a little knee-jerk if the decision by Robert Bosch to exit the partnership agreement with the UK fuel cells group is a one-off.
That's Citi's take on the news German engineering giant has given its notice and will sell its stake in Ceres.
Berenberg has reiterated its 'buy' rating on Shell PLC (LSE:SHEL, NYSE:SHEL), raising its price target to 3,250p from 3,150p, citing expectations of continued strong free cash flow and shareholder returns.
It expects Shell’s strategy update on March 25 to maintain its focus on capital discipline and free cash flow per share growth.
So, what's happening at Palantir Technologies Inc (NYSE:PLTR), the data giant that saw $28 billion wiped from its value in after-hours trading?
The simple answer is gravity.
Shares in Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) fizzled 42% lower to 75.75p after major partner Robert Bosch pulled its partnership as part of a strategic realignment of its operations.
The German giant will sell off its 17.44% stake and its non-executive board representative is stepping down with immediate effect.
Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) shares climbed 1.7% after the miner reported its lowest full-year earnings in five years but pushed back against calls to quit its FTSE 100 listing in London and move to a primary quote in Sydney.
The company posted underlying earnings of $10.87 billion for 2024, down from $11.76 billion the previous year and slightly below analyst forecasts.
HudBay Minerals Inc. (TSX:HBM) saw its shares fall more than 12% on Wednesday afternoon after releasing its latest production guidance, which included a downward revision for 2025 copper and gold output.
Hudbay’s 2025 production guidance now forecasts copper output of 117,000 to 149,000 tonnes, which is approximately 13% lower than the previous range of 132,000 to 172,000 tonnes, while gold production is expected to be between 248,000 and 308,000 ounces, about 6% below the prior estimate of 264,000 to 326,000 ounces.
Further interest rate cuts are not imminent amid sticky inflation and economic uncertainty, the minutes from the Federal Reserve’s latest rate-setting meeting held in January have revealed.
At the conclusion of the meeting, the central bank kept its benchmark rate steady at 4.3%, with members expressing caution around cutting rates too quickly.
Bumble Inc (NASDAQ:BMBL) shares plunged more than 26% after the social networking platform projected a decline in paying users and revenue for the first quarter.
The company guided revenue in the range of $242 million and $248 million for Q1, below estimates of $257.2 million.
UBS has identified Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) as being at a “free cash flow inflection” point, maintaining its ‘buy’ rating and setting a price target of £20 per share.
The bank argues that improving cash flow and debt reduction could help narrow the valuation gap between Endeavour and its peers in the gold sector.
Helium One Global Ltd's (AIM:HE1, OTCQB:HLOGF) share price rose 2.5% after the company confirmed drilling has started at Jackson-31, part of its Galactica helium project in Colorado. The well is targeting the Lyons sandstone formation, a known gas reservoir, with results expected to provide key data on the site’s helium potential.
Helium One, which holds a 50% stake in Galactica, said drilling is progressing as planned, with equipment in place and preparations underway to reach target depth. Once complete, tests will measure gas flow and pressure to estimate how much helium the well can produce.
Procter & Gamble Co (NYSE:PG, ETR:PRG)’s long-term growth trajectory is intact despite short term market challenges, analysts at Goldman Sachs believe.
Analysts wrote that they left recent meetings with P&G’s management team “broadly encouraged” by its growth trajectory.
Moderna Inc (NASDAQ:MRNA, ETR:0QF) shares added more than 8% during Tuesday’s session as investors remained optimistic about the company’s long-term strategy following mixed fourth quarter earnings.
The company last week reported a wider-than-expected loss for Q4, as revenue surpassed expectations.
The price of gold should climb to $3,100 or even $3,200 an ounce, strategists at Goldman Sachs and UBS have predicted, from $2,900 on Tuesday morning.
Goldman Sachs raised 2025 forecast to $3,100, citing higher central bank demand, while UBS mooted the possibility of seeing a high of over $3,200 this year, "before prices gradually ease and stabilise at elevated levels over the next few years".
UBS has warned that Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) is likely to lower its 2025 iron ore shipment forecast after storms and flooding disrupted operations in Western Australia.
The bank said Rio’s shipments have dropped 9 million tonnes year-on-year, marking their lowest level in more than six years.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) new farm-out deal has shone a light on the asset value that’s currently unrecognised by the share price.
The Alaska-focused explorer on Monday announced it had agreed a new farm-out deal for the Project Phoenix horizontal test well, on Alaska’s North Slope.
Allergy Therapeutics PLC (AIM:AGY, OTC:AGYTF) says the latest publication of phase III trial data provides important validation of its treatment, Grass MATA MPL.
The findings, shared in the journal Allergy, confirm the effectiveness of the company’s short-course immunotherapy for grass pollen allergies.