The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1539 GMT - American Express saw a deceleration in airline spending in the latest quarter, but people continue booking more flights as the credit-card company's customer base remains untouched by macro uncertainty, CEO Stephen Squeri says on an analyst call, citing a highest-ever number of travel bookings, including a high in international bookings from its travel-related services. Despite a lack of confidence in the economy, Squeri says, the company's card members are still spending and "they're not spending off what's in the market." Squeri adds that through the 11 financial crises he's endured with the company, he has not seen such events become a "determining driver from a credit-crunch perspective" for Amex. (sabela.ojea@wsj.com; @sabelaojeaguix)

1057 GMT - DHL could face challenges from a tariff-induced hit to global growth, Deutsche Bank analyst Andy Chu writes. The bank trimmed DHL forecasts ahead of Liberation Day, taking its 2025 EBIT forecast to 5.98 billion euros, versus management guidance of over 6 billion euros. Deutsche Bank previously assumed tariffs would cause modestly lower global trade and that complexity in the supply chain would lead to increased demand for value-added services which would help offset lower volumes. "But we think that the uncertainty of tariffs and retaliatory tariffs could now lead to a material decline in global GDP and a potential recession." The bank lowers its target price to 42 euros from 50 euros and keeps a buy rating. Shares fall 1.4% to 35.75 euros. (dominic.chopping@wsj.com)

1016 GMT - Daimler Truck investors are likely to focus on peer results and guidance, end market trends, and industry data ahead of the company's earnings next month, HSBC analysts write. Daimler Truck's first-quarter unit sales missed consensus by 10.7%, driven by North America trucks and Mercedes-Benz. While all its vehicles produced in Mexico are U.S.-Mexico-Canada Agreement compliant, the impact of tariffs on metals and the supply chain for components remains unclear, HSBC says. Daimler Truck expects costs to be passed on to customers. The bank's analysis indicates that a 7% year-on-year sales decline and a 7.5% return on sales is priced in. It lowers its target price to 47 euros from 51 euros and keeps a buy recommendation on the stock. Shares fall 0.5% to 33.75 euros. (dominic.chopping@wsj.com)

0956 GMT - Autoliv's first-quarter sales and margins were materially above expectations, while early commentary on second quarter trading is supportive, Berenberg analyst Romain Gourvil writes. Both help to de-risk Autoliv's reiterated full-year guidance, he adds. Tariffs bring volume and cost uncertainties, but Berenberg expects decent earnings growth and free cash flow generation in 2025. This is supported by Autoliv's proactive and strong execution of cost-cutting initiatives, as demonstrated by the solid 9.9% first quarter margin. The bank cuts its price target to 1,012 Swedish kronor from 1,347 kronor and keeps its buy rating. Shares fall 2.8% to 848.5 kronor. (dominic.chopping@wsj.com)

2149 GMT [Dow Jones]--Lyft's acquisition of taxi-hailing app Freenow adds a notable new competitor for Uber in Europe, D.A. Davidson analysts say in a research note. The analysts say it's unclear how Freenow's revenue breaks down by country, but 75% of the cities it currently operates in are located in Germany and Poland, according to the company's website. The most important dynamic for Uber investors, though, is whether Lyft can help Freenow gain share in Uber's key market in the UK, the analysts say. They say Freenow appears to currently operate in 10 different cities in the UK. (kelly.cloonan@wsj.com)

1739 GMT - The strength in March U.S. retail sales isn't only about consumers trying to get ahead of tariffs, Wells Fargo's Tim Quinlan and Shannon Grein write. Sales beat WSJ consensus in both the headline and the ex-auto figures. The report included upward revisions of previous data. Autos saw the biggest March gain, likely reflecting a rush to buy vehicles before any price increase due to tariffs. But consumers "also spent more at restaurants in March, and we're not aware of a way you can front-run tariffs with a nice night out," Quinlan and Grein say. "How consumers act in these next couple of months will be telling," they say. (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

April 17, 2025 12:20 ET (16:20 GMT)

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