The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1013 ET - Fewer European companies are significantly beating earnings-per-share expectations than the historical average, Goldman Sachs analysts write. Among Stoxx 600 companies that have reported this earnings season, 23% beat EPS expectations by more than 5%, sharply down on a historical average of 40%, the analysts say. Companies aren't being rewarded with a boost in share price for beating estimates, but for those that fall short of expectations--16% of companies reporting so far this season--the market reaction is severe, the analysts say. Companies' ability to protect earnings amid the consequences of the Iran war will depend on whether they can pass rising costs on to customers, they add. (josephmichael.stonor@wsj.com)
0914 ET - Intel is set to benefit from surprisingly strong growth in server CPU demand, say Wedbush analysts Matt Bryson and Antoine Legault, who raise their price target to $60 from $30. This demand is being driven by inference workloads and agentic AI and Intel is best positioned to serve this demand due to its ability to ramp up internal manufacturing supply. "In turn, this backdrop gives us confidence that the business improvement Intel enjoyed in Q1 and Q2 is sustainable," the analysts say. Still, the analysts' price target, despite using multiple math in excess of targets for other chip makers, remains below the stock's current level. (nicholas.miller@wsj.com)
0910 ET - Heineken could yet be forced to temper its full-year profit hopes if the Middle East conflict endures, analysts at Berenberg write in a note to clients. The Dutch brewer booked revenue and volume results for the first quarter largely in line with expectations, and backed its guidance for full-year operating profit to grow between 2% and 6%. Still, the company noted that prolonged disruption in global supply chains could affect that outlook. "[It is] a risk worth monitoring as higher energy prices and supply shortages could weigh on consumer sentiment and input costs," Berenberg says. (joshua.kirby@wsj.com; @joshualeokirby)
0907 ET - Share buybacks announced by companies included in the FTSE 100 total 32.1 billion pounds so far this year, 1.6% lower than at this point last year, according to AJ Bell analysis. Despite the slight fall, the volume of buybacks will "remind shareholders of the U.K.'s appeal as a source of cash returns," AJ Bell's Russ Mould says in a note. Further buybacks may come from banks and oil companies in particular, he says. Buybacks may attract negative media coverage because of the backdrop of the Middle East conflict, but Mould notes that Shell ran a significant buyback shortly after Russia's full-scale invasion of Ukraine. The FTSE 100 falls 0.5% in afternoon trade Friday, but is up 4.7% for the year.(josephmichael.stonor@wsj.com)
0906 ET - Intel is delivering real improvements in factory output to meet stronger CPU demand, says Benchmark analyst Cody Acree, who raises the price target to $105 from $76. The company's quarterly results benefited from one-time inventory monetization, but the bigger story is that production improved, "while demand in server CPUs remains ahead of supply and is being reinforced by inference and agentic AI workloads," Acree says. "The company's material supply recovery is one of the main reasons we think the quarter's outperformance and better outlook should be particularly encouraging to investors." Shares jump 25% in pre-market trading to $83.27. (nicholas.miller@wsj.com)
0856 ET - SLB's nascent data-center business is continuing to grow at a quick clip. Data-center solutions revenue came in at $141 million during the recent quarter, up 10% sequentially and a 45% jump year-over-year. The unit, which offers services such as modular manufacturing and cooling, helped offset declines across several other business arms, which were hurt by disruptions stemming from the war in Iran. The company says that AI-driven data demand is fueling rapid growth, and that its data-center business is going to be "a material and meaningful contributor to SLB's portfolio in the future." (connor.hart@wsj.com)
0839 ET - SLB Chief Executive Olivier Le Peuch says the year got off to a challenging start, as widespread disruptions across the Middle East hurt business. The oilfield-services company notches revenue of $2.69 billion from the Middle East and Asia, down 17% sequentially and 10% from last year. Le Peuch says SLB had to demobilize operations in a number of countries in response to customer actions to safeguard personnel and facilities. The war in the Middle East is also widely disrupting energy markets, he added, noting a prolonged conflict could threaten its expectations for a broad-based recovery in upstream markets in 2027 and 2028. Shares fall 3.6% premarket. (connor.hart@wsj.com)
0754 ET - Electrolux reported a weak first quarter, with adjusted operating profit significantly below expectations, driven by a sharp deterioration in North America, SEB analysts write. This was partly offset by strength in EMEA and Latin America but cash flow was negative and financial leverage increased, they add. "The most important development is a strategic partnership with Midea in North America, together with a broader restructuring program aimed at significant cost savings." To finance this, Electrolux is launching a fully guaranteed rights issue of 9 billion Swedish kronor. SEB says volumes are likely near the bottom of the business cycle, and that it is concerned that the recent market share losses in the U.S. may be structural and that price erosion has only just begun. Shares fall 24%. (dominic.chopping@wsj.com)
0718 ET - Volvo delivered a strong margin performance across the board for the first quarter, driving better-than-expected earnings, UBS analysts write. Total adjusted operating profit landed 4% above consensus, while group margins were around 60 basis points ahead at 11%. Truck margins came in at 10.1% versus consensus at 9.5%, which led to a 7% trucks adjusted operating profit beat on a broadly in-line sales performance, UBS says. The most impressive figure was truck orders, which was solid at 62,800, 7% above consensus, despite the ongoing global uncertainty, it adds. On a regional basis, this was led by North America, while Europe was slightly behind and South America truck orders were also a surprising bright spot. Industrial free cash flow was also a solid beat in the quarter, UBS says. Shares rise 1.6%. (dominic.chopping@wsj.com)
0655 ET - bioMerieux's strong balance sheet and net cash position provides the pharmaceutical company with merger and acquisition opportunities, Baader analyst Anas Patel writes in a note. Its first-quarter performance indicates a challenging demand environment this year and Baader has lowered its estimates for the company. "Despite short-term challenges, the long-term outlook remains stable, with no indications of structural disruption," Patel says. The French pharmaceutical company remains Baader's top choice in the testing section as competitors Qiagen and DiaSorin will likely be constrained as well due to a less severe respiratory season and the impact of the war in the Middle East. Shares are down 2.7% at 71.30 euros and 35% lower over the year to date. (julia.nasser@wsj.com)
0648 ET - Kuehne + Nagel raised its guidance as cost measures boost profits, while the company sees no major impact from the Middle East conflict, Vontobel analyst Michael Foeth writes. Sea-freight volumes fell slightly, but yields were stable and unit costs lower as cost savings started to kick in, driving a 24% EBIT beat in the unit. Air-freight volumes were weaker than expected but with stronger yields that sent the unit's EBIT 23% above the bank's estimate, Foeth adds. Overall adjusted group EBIT beat consensus by 7% and 2026 EBIT guidance was raised to 1.25 billion to 1.4 billion Swiss francs. "While the impact on consumer demand from the Middle East conflict and energy price hikes in future quarters is uncertain, the company has a solid track record in navigating efficiently through periods [of] disruption." Shares fall 2%. (dominic.chopping@wsj.com)
0644 ET - Palm oil prices ended higher, thanks to high crude oil prices and firm soybean oil prices, says Abdul Hameed, director of sales at Pakistan-based Manzoor Trading. With palm oil still trading at comparatively attractive levels, buying interest from key regional importers--such as Pakistan, India and Bangladesh--may improve, he says. These destinations are likely to step in for May shipment coverage, especially as the current price gap keeps palm oil competitiveness against other edible oils complex, he adds. The Bursa Malaysia Derivatives contract for July delivery closed 16 ringgit higher at 4,595 ringgit a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 24, 2026 10:13 ET (14:13 GMT)
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