1 hour ago
ASML stock falls 4.5% as sales fall below expectations
President Joe Biden’s administration plans to pressure the Netherlands next week to force top semiconductor equipment maker ASML to stop servicing some of its tools in China, people familiar with the matter said. Two people revealed. It comes at a time when the United States is relying on allies to slow down China’s high-tech industry.
Emmanuel Dunant | AFP | Getty Images
ASML stock fell as much as 4.5% in early trading Wednesday after the company stuck to its full-year outlook despite missing revenue expectations.
The company reported net sales of 5.29 billion euros ($5.62 billion), compared to analyst expectations of 5.39 billion euros. Net profit was 1.22 billion euros, compared to the expected 1.07 billion euros.
Sales decreased by 21.6% and net profit decreased by 37.4% compared to the same period last year.
— Karen Gilchrist
3 hours ago
LVMH stock rose 2.5%
Shares in luxury goods group LVMH rose 2.5% in morning trading despite a slowdown in luxury goods group sales.
First-quarter sales rose 3%, the company reported on Tuesday, slowing from 17% growth in the same period in 2023 as rising prices weighed on consumers coveting brands such as Louis Vuitton and Dior. announced.
— Karen Gilchrist
3 hours ago
European stocks start higher
European stock markets opened higher on Wednesday, with the benchmark Stoxx 600 index up 0.12% by 8:05 a.m. London time.
France’s CAC40 index rose 0.5%, Germany’s DAX index rose 0.1%, while Britain’s FTSE100 index was flat.
— Karen Gilchrist
4 hours ago
UK inflation rate slower than expected, at 3.2%
Skyline view of the City of London overlooking the River Thames and Waterloo Bridge at sunset on February 10, 2024 in London, UK.
Mike Kemp | In Photo | Getty Images
UK inflation fell to 3.2% in March, according to new data released by the Office for National Statistics on Wednesday.
The figure was slightly higher than economists’ expectations of 3.1%, but down from February’s 3.4%. Core inflation, which excludes energy, food, alcohol and tobacco, came in at 4.2%, compared to the expected 4.1%.
Investors are closely monitoring the latest data for signals on when the Bank of England might cut interest rates.
— Karen Gilchrist
10 hours ago
CNBC Pro: ‘Hard to ignore’: Jeffries says this cybersecurity stock could double despite surging 75% in the past year
Investment bank Jefferies predicts the cybersecurity company’s stock will rise nearly 100% from current levels.
The stock appears to have momentum, with its stock up 75% in the past year and more than doubling since hitting an all-time low in early 2023.
CNBC Pro subscribers can read more here.
— Ganesh Rao
10 hours ago
CNBC Pro: Morgan Stanley named world’s best dividend stock for this quarter
Investing in an increasingly volatile market is no mean feat amidst geopolitical risks, rising bond yields, and macroeconomic uncertainty.
Given the unpredictability of the situation, some analysts are renewing their recommendations for buying high-dividend stocks.
“Markets are pricing in expectations that the Fed will cut interest rates after March. Talk of “no landing” and “sticky inflation” is on the rise again. “These lead to higher U.S. bond yields, which particularly favors dividend stocks to outperform,” Morgan Stanley analysts said in a recent note, adding that this quarter’s “high-conviction” stocks listed.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
6 hours ago
European Market: Click here for opening call
European markets are set to open higher on Wednesday.
According to IG data, the UK’s FTSE 100 index rose 39 points to 7,848, Germany’s DAX rose 47 points to 17,789, France’s CAC rose 52 points to 7,972 and Italy’s FTSE MIB rose 93 points to open at 32,806. It is expected that
Revenue comes from ASML and Asos. The data release also includes UK inflation figures for March.
— Holly Ellyatt
