Baidu Reports Surprise Revenue Jump During China's AI Battle
Revenue for the three months ended March rose 3% to 32.45 billion yuan ($4.5 billion), when analysts expected it to shrink to 31.03 billion yuan. Net income for the same period came at 7.72 billion yuan.
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- Yahoo
Trump claims he's made a ‘massive' trade deal with Japan
President Donald Trump boasted Tuesday that he had made a 'massive' deal with Japan that would generate 'thousands of jobs' and billions of dollars for the U.S. The president announced the trade framework – 'perhaps the largest Deal ever made' – in a Truth Social post Tuesday, revealing that a 15 percent tax on goods imported from Japan had been agreed. In the post Trump said Japan would invest 'at my direction' $550 billion into the U.S. and would 'open' its economy to American-made vehicles as well as 'rice' and 'other things.' But further details remained scant. The 15 percent tax on imported Japanese goods is a significant drop from the 25 percent rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting on August 1. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' the president posted on Truth Social, adding that the United States 'will continue to always have a great relationship with the Country of Japan.' 'This is a very exciting time for the United States of America, and especially for the fact that we will continue to always have a great relationship with the Country of Japan. Thank you for your attention to this matter!' Early Wednesday in Tokyo, Japanese Prime Minister Shigera Ishiba confirmed the new trade agreement, saying it would benefit both sides and help them work together. 'The government was determined to protect national interests,' Ishiba told reporters, per the Wall Street Journal. Trump's announcement appeared to excite investors, with the benchmark Nikkei – the Tokyo stock market – climbing 2.6 percent to its highest in a year, with shares of automakers also surging. Toyota grew by more than 11 percent, with Honda and Nissan both up more than 8 percent. But American automakers were less buoyed with the deal, with concerns raised over low import levies from Japan, compared to tariffs on imports from Canada and Mexico remaining at 25 percent. Matt Blunt, head of the American Automotive Policy Council, said, "Any deal that charges a lower tariff for Japanese imports with virtually no U.S. content than the tariff imposed on North American-built vehicles with high U.S. content is a bad deal for U.S. industry and U.S. auto workers.' Sign in to access your portfolio
Yahoo
25 minutes ago
- Yahoo
Ladder Capital (LADR) Reports Earnings Tomorrow: What To Expect
Commercial real estate lender Ladder Capital (NYSE:LADR) will be announcing earnings results this Thursday morning. Here's what investors should know. Ladder Capital missed analysts' revenue expectations by 7.1% last quarter, reporting revenues of $51.28 million, down 18.9% year on year. It was a disappointing quarter for the company, with a significant miss of analysts' tangible book value per share estimates and a significant miss of analysts' EPS estimates. Is Ladder Capital a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Ladder Capital's revenue to decline 21.6% year on year to $56.18 million, a reversal from the 6.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ladder Capital has missed Wall Street's revenue estimates twice over the last two years. Looking at Ladder Capital's peers in the thrifts & mortgage finance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. PennyMac Mortgage Investment Trust's revenues decreased 1.4% year on year, missing analysts' expectations by 26.1%, and AGNC Investment reported a revenue decline of 367%, falling short of estimates by 141%. AGNC Investment traded up 1.5% following the results. Read our full analysis of PennyMac Mortgage Investment Trust's results here and AGNC Investment's results here. There has been positive sentiment among investors in the thrifts & mortgage finance segment, with share prices up 8.2% on average over the last month. Ladder Capital is up 2.4% during the same time and is heading into earnings with an average analyst price target of $12.79 (compared to the current share price of $11.02). Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. 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
Bloomberg
25 minutes ago
- Bloomberg
Trump Deals Bring Some Clarity for World's Manufacturing Base
After months of uncertainty, President Donald Trump's latest tariff deals are providing clarity on the broad contours of a new trade landscape for the world's biggest manufacturing region. Trump on Tuesday announced a deal with Japan that sets tariffs on the nation's imports at 15%, including for autos — by far the biggest component of the trade deficit between the countries.
