The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1044 GMT - Sainsbury's results show that its food-first strategy is working well, says AJ Bell's Dan Coatsworth. The U.K. retailer's core grocery business is doing well, while its general-merchandise unit Argos is dragging--boosting the argument to dispose of it, Coatsworth adds. Sainsbury's can't become complacent as competition is strong in the grocery sector, and it is now up against a potential new cost-of-living crisis brought on by the Middle East conflict, he adds. Shares are down 5.6% to 3.33 pounds. (aimee.look@wsj.com)
1036 GMT - Heineken posted a solid start to the year, analysts at UBS write after the Dutch brewer's first-quarter results largely matched views. Consolidated volumes continued to slip over the first months of the year, though at a slower pace than last year. Heineken also backed its profit guidance for the year. "We expect no changes to consensus estimates on the back of today's update," UBS says. Shares lose 3.8% to 65.12 euros following the update.(joshua.kirby@wsj.com; @joshualeokirby)
1026 GMT - Nestle's results come as a positive surprise, with coffee as a standout, analysts at Bernstein write in a note. Volumes have returned to strong growth for the category, and pricing has been robust. Coffee's strength has been consistent globally, the analysts say. Overall at a geographic level, both the Americas and Europe are standouts, being stronger than expected, they add. "The Navratil/Isla turnaround train appears to be gaining momentum," they say, referring to CEO Philipp Navratil and Chair Pablo Isla. Shares are up 6.2% at 80.2 Swiss francs. (aimee.look@wsj.com)
1019 GMT - Hengrui Pharmaceuticals' diversified innovative pipeline is undervalued, Citi analysts say in a note. The drugmaker's innovative drug sales rose 26% on year in 1Q, and innovative products accounted for a larger proportion of total sales. Management said hospital access accelerated in March, which Citi views as a solid foundation for sales growth in 2026, while new product approvals this year could provide additional upside. Coming clinical data readouts should also drive a re-rating, it adds. Citi maintains its buy rating, with target prices of 123.00 yuan for A shares and HK$134.00 for H shares. The bank also names Hengrui as its top pick in China's pharmaceutical sector. A shares closed at 56.40 yuan, while H shares ended at HK$68.70. (jason.chau@wsj.com)
1013 GMT - Palm oil futures closed lower, weighed by an overnight pullback in rival soy oil and likely profit-taking, Kenanga Futures analysts say in a note. Concerns over subdued demand and expectations of higher production in the weeks ahead also likely pressured prices, they say. Kenanga Futures peg the support and resistance for the July contract at 4,540 ringgit a metric ton and 4,660 ringgit a ton, respectively. The Bursa Malaysia Derivatives contract for July delivery ended 49 ringgit lower at 4,579 ringgit a ton. (megan.cheah@wsj.com)
1007 GMT - WH Smith's chairman, Leo Quinn has a serious task ahead of him if he's to rebuild the company, AJ Bell's Dan Coatsworth writes. Investors in the travel retailer may now miss its high street operations which generated healthy cash flows for the dividend, which WH Smith suspended Thursday. Its decision to invest in its U.K. travel stores dents profit at a time of considerable uncertainty, Coatsworth says. Shares fall 11% to 560 pence.(adam.whittaker@wsj.com)
0946 GMT - ASOS's update seems reassuring, particularly in the context of what appears to be a deteriorating consumer backdrop, Berenberg analysts write in a research note. The U.K. online fashion retailer said the current performance is in line with expectations as the group continues to push ahead with a business reset to boost sales. There are some early signs that the company is capable of turning around its sales trend, Berenberg says. "It is also encouraging that new customer growth was 9% at the group level in March, which is the first month of growth since September 2021," the analysts add. Shares are 0.7% higher. (andrea.figueras@wsj.com)
0928 GMT - EssilorLuxottica's future path remains uncertain, analysts at Bernstein say, despite continued double-digit revenue growth at the eyewear group. The Franco-Italian company on Wednesday said sales grew 11% at constant currency in the first quarter, slowing from the previous three months. Smartglasses--which EssilorLuxottica is banking on to drive revenue growth over the medium term--continue to raise questions, Bernstein says."EssilorLuxottica will need to show it can deliver high wearables growth and strong midsingle digit traditional eyewear/med-tech growth simultaneously to allay these fears," the brokerage says. The group, which partners with Meta for its smartglasses, should also brace for competition from other tech giants like Google and Apple, Bernstein says. Shares in EssilorLuxottica drop nearly 5% to 191.60 euros following the update. (joshua.kirby@wsj.com; @joshualeokirby)
0917 GMT - STMicroelectronics reported better-than-expected sales for the first quarter, Jefferies analysts write in a research note. Revenue growth seems to have come from continued strength at clients like Apple, data centers, low-earth-orbit satellites and the acquisition of NXP's micro-electro-mechanical systems sensor business, they say. The European chip maker said revenue climbed 23% on year to $3.10 billion, above company guidance of about $3.04 billion and a Visible Alpha forecast of $3.06 billion. The figure is also above a Jefferies forecast of $3.05 billion. STMicroelectronics shares trade 8.4% higher at 40.63 euros. (mauro.orru@wsj.com)
0916 GMT - Tesla shares fall premarket on investor concern around the automaker's capital spending plans, XTB's Kathleen Brooks writes. In earnings announced after the market closed Wednesday, the Elon Musk-led company said it would increase its capital spending this year to $25 billion. Moreover, the earnings report suggests that Tesla's core autos business continues to struggle amid tough Chinese competition, Brooks adds. "It was still the second worst quarter for sales since 2022, and suggests that there remains an overhang from Musk's foray into politics." Tesla shares fall 2.9% premarket, after initially rising around 4% following the earnings release. (josephmichael.stonor@wsj.com)
0908 GMT - U.S. semiconductor company Texas Instruments beat expectation with fiscal first-quarter results, which is driving analog semiconductor stocks higher in Europe, Equita's Alberto Gegra writes. Texas Instruments posted higher profit and revenue on a further acceleration in demand--particulary in industrial and data centers. "The messages from Texas are constructive, both regarding growth in the data center world and with regard to the cyclical recovery that so far seems to continue at a good pace," Gegra writes. Texas Instruments shares jump over 10% in premarket trade, while ON Semiconductor gains 3.9%. In Europe, Geneva-based STMicroelectronics gains 8.3% after reporting its own earnings, while German group Infineon rises 5.5%. (josephmichael.stonor@wsj.com)
0904 GMT - An upgrade to Pepco's guidance should be well received by investors, Citi analysts write in a note. The Warsaw-listed retailer said this week it expects underlying earnings before interest, taxes, depreciation and amortization to grow in the low teens of percent this fiscal year, up from previous guidance of at least 9% growth. "Pepco has continued to generate a robust trading performance driven by a strong customer response to our Spring/Summer collections, as well as the ongoing success of strategic initiatives across our business," the company said. A positive market reaction is likely, Citi says. Shares rise nearly 5% to 30.66 zloty. (joshua.kirby@wsj.com; @joshualeokirby)
(END) Dow Jones Newswires
April 23, 2026 06:45 ET (10:45 GMT)
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