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NZ Herald
11 hours ago
- Business
- NZ Herald
New Zealand sharemarket dips as F&P Healthcare, Infratil shares fall
New Zealand's largest stock, Fisher & Paykel Healthcare, fell for a second day after it hosted an investor day in Melbourne, although Goodson said there was no real news for Kiwi investors. F&P shares fell 28c to $36.41, after 328,025 shares changed hands, worth $11,918,976.27. Meanwhile, Infratil shares fell 2.45% to $11.17. 'The other key name in the index was down. In the Australian close last night Infratil entered the ASX 200 index, so buying in anticipation of that may now be absent and that could perhaps explain that decline,' Goodson said. Elsewhere, Sky TV continued its positive momentum following the news it had agreed to purchase TV3 for $1 on a cash-free, debt-free basis. Today, analysts at fund manager Octagon said the business will be worth 35c per share to its new owner – or just over $48m. Sky TV's share price climbed 6c to $3.12. 'It's hardly operating in growth markets. By bolting on a business like that and hopefully extracting some cost and revenue synergies in the future, they may be able to stem some of the structural pressures that they face,' Goodson said. He also pointed out the Colonial Motor Company, one of New Zealand's longest-listed companies. It had $125,212.55 worth of shares trade on light volume. The business, which owns a number of Ford dealerships and franchises around the country, released a guidance upgrade to its second-half results, saying it is shaping to contribute to a more positive outcome for the full-year trading profit after tax than was anticipated in February. 'It's not a reflection of the overall economic environment, rather pockets of the wider vehicle market. I think it's pointing to what's becoming fairly clear in this economy, which is that large parts of the rural sector are having a pretty good year or two, but that's yet filtering through to town,' Goodson said. Global markets The Nasdaq retreated from a record Tuesday on a mixed day for stocks as markets looked ahead to upcoming earnings reports from Google parent Alphabet and Tesla. The two reports on Wednesday are the first of Wall Street's 'Magnificent Seven' equities to report this season. The group was mixed, with drops in Nvidia and other semiconductor equities consistent with profit-taking after earlier gains, analysts said. The tech-rich Nasdaq fell 0.4% to 20,892.69, snapping a six-day streak of record high finishes. But the broad-based S&P 500 edged up 0.1% to 6309.62, finishing at a record, while the Dow Jones Industrial Average climbed 0.4% to 44,502.44. Art Hogan of B. Riley Wealth Management described the market as in a 'wait-and-see' mode ahead of earnings from the most influential equities. – Additional reporting AFP Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
The Sun
17 hours ago
- Business
- The Sun
Nasdaq dips before big tech earnings as EU tariff deadline looms
NEW YORK: The Nasdaq slipped from its record high as investors braced for earnings reports from tech giants Alphabet and Tesla. Meanwhile, European markets remained cautious ahead of an August 1 deadline for the EU to avoid steep US tariffs. The Dow and S&P 500 closed higher, but the Nasdaq fell 0.4 percent, ending a six-day streak of record highs. Alphabet and Tesla, part of Wall Street's 'Magnificent Seven,' will report earnings on Wednesday, with Apple and Meta set to follow next week. Corporate earnings have so far shown resilience in the US economy, though Trump's tariffs on major trading partners have impacted sectors like automobiles. Art Hogan of B. Riley Wealth Management noted that Tuesday's dip in Nvidia and other tech stocks suggested profit-taking after recent gains. 'It's a difficult earnings season where expectations are really low but stocks are already priced very high,' Hogan said. In Europe, only London ended in positive territory, while Paris and Frankfurt declined. The EU faces potential tariffs if no deal is reached with the Trump administration by August 1. 'European markets have been getting increasingly jittery as the deadline approaches,' said David Morrison of Trade Nation. 'With little sign of progress so far, investors are preparing for possible tariff retaliation from the EU.' US Treasury Secretary Scott Bessent will meet Chinese officials in Stockholm next week for tariff talks, as another mid-August deadline looms for US tariffs on China. Big Earnings Reports General Motors reported a 35 percent drop in second-quarter profits, hit by $1.1 billion in US tariffs, though it maintained its full-year forecast. Its shares fell 8.1 percent. 'Expectations for the earnings season include accelerated profit growth for major US technology companies in the second half of the year,' said Jochen Stanzl of CMC Markets. AstraZeneca announced a $50 billion US investment by 2030 amid tariff threats on pharmaceuticals. The dollar weakened further, while oil prices dropped on concerns over slowing global economic activity. In Asia, Hong Kong's index hit its highest close since late 2021, fueled by Chinese tech stocks and mainland investor inflows. Tokyo dipped after Japan's ruling coalition lost its upper-house majority, raising political uncertainty. - AFP
Business Times
18 hours ago
- Business
- Business Times
US: Nasdaq ends six-day streak of records
[NEW YORK] The Nasdaq retreated from a record Tuesday on a mixed day for stocks as markets looked ahead to upcoming earnings reports from Google parent Alphabet and Tesla. The two reports on Wednesday are the first of Wall Street's 'Magnificent Seven' equities to report this season. The group was mixed, with drops in Nvidia and other semiconductor equities consistent with profit taking after earlier gains, analysts said. The tech-rich Nasdaq fell 0.4 per cent to 20,892.69, snapping a six-day streak of record high finishes. But the broad-based S&P 500 edged up 0.1 per cent to 6,309.62, finishing at a record, while the Dow Jones Industrial Average climbed 0.4 per cent to 44,502.44. Art Hogan of B. Riley Wealth Management described the market as in a 'wait and see' mode ahead of earnings from the most influential equities. Stocks are priced for perfection, Hogan added. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'It's a difficult earnings season where expectations are really low but stocks are already priced very high,' he said. Among individual companies, General Motors dropped 8.1 per cent despite reporting better than expected quarterly earnings. While the automaker confirmed its full-year forecast, it said profitability in the second half of 2025 would lag the first part of the year, in part due to the increased impact of tariffs. Lockheed Martin was another big loser, shedding 10.8 per cent after its results were dented by around US$1.7 billion in one-time costs. But DR Horton surged 17 per cent after the homebuilder's results topped estimates. said the homebuilder's earnings outperformed competition, establishing it as 'a potential leader in navigating the challenging housing market.' AFP
Straits Times
19 hours ago
- Business
- Straits Times
Nasdaq ends six-day streak of records
Find out what's new on ST website and app. Traders working on the floor of the New York Stock Exchange, in New York City. NEW YORK - The Nasdaq retreated from a record on July 22 on a mixed day for stocks as markets looked ahead to upcoming earnings reports from Google parent Alphabet and Tesla. The two reports on July 23 are the first of Wall Street's 'Magnificent Seven' equities to report this season. The group was mixed, with drops in Nvidia and other semiconductor equities consistent with profit taking after earlier gains, analysts said. The tech-rich Nasdaq fell 0.4 per cent to 20,892.69, snapping a six-day streak of record high finishes. But the broad-based S&P 500 edged up 0.1 per cent to 6,309.62, finishing at a record, while the Dow Jones Industrial Average climbed 0.4 per cent to 44,502.44. Mr Art Hogan, of B. Riley Wealth Management, described the market as in a 'wait and see' mode ahead of earnings from the most influential equities. Stocks are priced for perfection, Hogan added. 'It's a difficult earnings season where expectations are really low but stocks are already priced very high,' he said. Top stories Swipe. Select. Stay informed. Singapore Two found dead after fire in Toa Payoh flat Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Singaporeans continue to hold world's most powerful passport in latest ranking Singapore Singapore, Vietnam agree to step up defence ties, dialogue between leaders Asia Malaysia govt's reform pledge tested as DAP chief bows over unresolved 2009 death of political aide Tech Singapore to increase pool of early adopters in AI to complement data scientists, engineers Singapore Prosecution says judge who acquitted duo of bribing ex-LTA official had copied defence arguments Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving Among individual companies, General Motors dropped 8.1 per cent despite reporting better than expected quarterly earnings. While the automaker confirmed its full-year forecast, it said profitability in the second half of 2025 would lag the first part of the year, in part due to the increased impact of tariffs. Lockheed Martin was another big loser, shedding 10.8 per cent after its results were dented by around US$1.7 billion (S$2.1 billion) in one-time costs. But DR Horton surged 17 per cent after the homebuilder's results topped estimates. said the homebuilder's earnings outperformed competition, establishing it as 'a potential leader in navigating the challenging housing market.' AFP
RTHK
19 hours ago
- Business
- RTHK
Nasdaq ends six-day streak of records
Nasdaq ends six-day streak of records The S&P 500 inched to another record on Tuesday following some mixed profit reports, while the Nasdaq slipped 0.4 percent. Photo: Reuters The Nasdaq retreated from a record on Tuesday on a mixed day for stocks as markets looked ahead to upcoming earnings reports from Google parent Alphabet and Tesla. The two reports on Wednesday are the first of Wall Street's "Magnificent Seven" equities to report this season. The group was mixed, with drops in Nvidia and other semiconductor equities consistent with profit taking after earlier gains, analysts said. The Nasdaq fell 0.4 percent to 20,892, snapping a six-day streak of record high finishes. But the S&P 500 edged up 0.1 percent to 6,309, finishing at a record, while the Dow Jones climbed 0.4 percent to 44,502. Art Hogan of B Riley Wealth Management described the market as in a "wait and see" mode ahead of earnings from the most influential equities. Stocks are priced for perfection, Hogan added. "It's a difficult earnings season where expectations are really low but stocks are already priced very high," he said. Among individual companies, General Motors dropped 8.1 percent despite reporting better than expected quarterly earnings. While the automaker confirmed its full-year forecast, it said profitability in the second half of 2025 would lag the first part of the year, in part due to the increased impact of tariffs. Lockheed Martin was another big loser, shedding 10.8 percent after its results were dented by around US$1.7 billion in one-time costs. But DR Horton surged 17 percent after the homebuilder's results topped estimates. said the homebuilder's earnings outperformed competition, establishing it as "a potential leader in navigating the challenging housing market." (AFP)
