The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0803 GMT - Kuehne + Nagel's EBIT exceeded analyst expectations driven by the logistics company's sea division, Deutsche Bank analysts say in a research note. The company posted 402 million Swiss francs in EBIT, up 6.9% on year and 4% ahead of company consensus, the analysts say. Despite the beat, investor focus is likely tuned to the company's current performance and full-year guidance, the analysts say. The company maintained its guidance but cited elevated and fluctuating levels of uncertainty including from tariff developments. Though U.S. import taxes are affecting global trade, the analysts say they expect the company to gain market share. Kuehne + Nagel shares trade down 0.4% at 186.75 Swiss francs. (pierre.bertrand@wsj.com)

0750 GMT - Galderma posted strong first-quarter sales figures that increase confidence in its full-year guidance, RBC Capital Markets analysts Alistair Campbell and Charles Weston say in a research note. The Swiss skincare company reiterated its guidance for net sales growth at 10-12% at constant currency. However, it now includes the impact of recently announced U.S. tariffs on its fillers and biostimulators business in the U.S., which accounts for around 9% of total sales, the analysts say. Shares trade 6.2% higher at 85.60 Swiss francs. (nina.kienle@wsj.com)

0741 GMT - BNP Paribas delivered a mixed set of first-quarter results and its outlook seems uncertain, RBC Capital Markets' Anke Reingen and Matthew Russell say in a research note. The French bank posted mixed divisional trends, the analysts say. The group's corporate and institutional banking arm did better than expected, but other parts of the business either in line with forecasts or worse, they add. "BNP reiterated it is on track to deliver its targeted 2024-26 growth trajectory but the outlook is uncertain in our view," Reingen and Russell say. Shares fall 2.8%. (adria.calatayud@wsj.com)

0739 GMT - Nokia's new CEO's early comments don't suggest that a change in strategy might be in the cards, Jefferies analysts Janardan Menon and Om Bakhda say in a note. "The new CEO Justin Hotard has taken over, but his comments so far have not pointed to any change in strategy," the analysts say. Hotard said he plans to give an update on his strategic priorities for the company alongside second-quarter results, followed by a more comprehensive presentation at a capital markets day in November. Shares in Nokia fall 6.4% after the Finnish telecommunications-equipment company's first-quarter results. (adria.calatayud@wsj.com)

0736 GMT - Trade tariffs will have a modest impact on Nokia's outlook, after the company reported first-quarter sales that came in slightly weaker than expected, Jefferies analysts Janardan Menon and Om Bakhda say in a note. The Finnish telecommunications-equipment maker expects tariffs to hit its second-quarter comparable operating profit by between 20 million and 30 million euros. Nokia confirmed its full-year outlook, but said the higher end of the range will be harder to achieve due to one-time contract settlement with a mobile networks customer. "We expect Nokia's FY25 sales outlook to be resilient despite tariffs, with margins likely to be impacted by one-offs, higher investments and geographic mix," Jefferies says. Shares fall 6.2%. (adria.calatayud@wsj.com)

0731 GMT - Investors maintain high equity allocations, indicating a belief that recent stock market losses are likely merely a temporary setback, CMC Markets' Jochen Stanzl says in a note. It might also signal expectations that the U.S. Federal Reserve would intervene in the event of an economic downturn, Stanzl says. Markets fully price in three interest-rate cuts by the Fed by the end of 2025, LSEG data show. (miriam.mukuru@wsj.com)

0730 GMT - The current valuation of Anant Raj's data-center segment at estimated 5X-10X FY 2027 Ebitda remains attractive, Nomura's Akash Gupta says in a research report as the brokerage maintains the stock's buy rating. The Indian real estate company expects to operationalize data-center capacity with 28 megawatts of IT load by 1Q FY 2026, versus 6 MW currently, the analyst notes. Management sees IT-load capacity expansion to 301 MW by FY 2031 staying mostly on track owing to lower capital-expenditure requirements. However, Nomura cuts the stock's target price to INR700.00 from INR750.00 to reflect the impact of reduced fundraising visibility. Shares are 1.5% lower at INR489.50. (ronnie.harui@wsj.com)

0726 GMT - Renault's 0.3% dip in first-quarter revenue was in line with expectations, Jefferies analysts write. The company confirmed its full-year guidance and showed strong progress with sales of hybrid vehicles, they write. The only concern is retail sales of light commercial vehicles, which dropped 21% in a market that declined around 12%, they write. Shares trade up 0.2% at 45.04 euros. (adam.whittaker@wsj.com)

0723 GMT - Chinese shares ended mostly lower, weighed by software and hardware stocks. Beijing Kingsoft Office Software and Range Intelligent Computing Technology Group fell 6.0% and 14%, respectively, after their weak 1Q earnings reports. Foxconn Industrial Internet lost 1.75% and Luxshare Precision Industry was down 2.4%. Bank stocks rose broadly, with Industrial & Commercial Bank of China up 1.8% and Agricultural Bank of China gaining 2.0%. HSBC analysts expect consumption to be a key focus at the upcoming April Politburo meeting, which is typically centered on economic policy. The benchmark Shanghai Composite Index ended flat at 3297.29, the Shenzhen Composite Index dropped 0.7% and the ChiNext Price Index was also 0.7% lower.(sherry.qin@wsj.com)

0703 GMT - Japanese stocks ended higher, as investors' concerns over U.S.-China trade tensions somewhat eased. The Nikkei Stock Average closed up 0.5% at 35039.15, supported by financial and automobile stocks. Toyota Motor closed 2.9% higher, while Honda Motor and Nissan Motor added 0.6% each. Among the financial stocks, Mitsubishi UFJ Financial closed 2.0% higher and Sumitomo Mitsui Financial added 1.8%. Investors will also seek cues from domestic companies, many of which are expected to report earnings in the coming weeks. USD/JPY stood at 142.70, unchanged from 141.61 as of Wednesday at 5 p.m. Eastern Time.(venkat.pr@wsj.com)

0659 GMT - Adidas's preliminary figures show that the German sportswear group had a better-than-expected first quarter, Citi analysts write in a research note. Sales came in at 6.15 billion euros, 13% higher than in the prior-year period in currency-neutral terms. The analysts note the result was ahead of consensus of 12% growth. The company's gross margin rose to 52.1% from 51.2%, above consensus of 51.8%. "We expect a positive reaction to this update given the material beat, gross margin strength, and recent share price weakness," the analysts say. (mauro.orru@wsj.com)

0657 GMT - Nestle's first-quarter figures show a solid start to the year and are a sign the company is moving in the right direction, albeit slowly, Baader Helvea analyst Andreas von Arx says in a research note. While the figures aren't impressive enough to justify a return to the historically higher valuation levels of the stock, the improved results momentum should lead to a higher share price this summer, the analyst adds. The quarter-over-quarter slowdowns in Nestle Health Science and PetCare and the negative organic growth at Prepared Dishes and Cooking Aids show that the Nestle engine is still not running at normal levels yet, the analyst says. (maitane.sardon@wsj.com)

(END) Dow Jones Newswires

April 24, 2025 04:05 ET (08:05 GMT)

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