Want to relocate to France? With a declining population rate, the picturesque village of Ambert in Puy-de-Dôme, known for its medieval streets and cheesemakers, is offering houses for €1. (Photo: Getty Images)https://t.co/WvOq6fIEAI https://t.co/c6WdjisJwU ...

Want to relocate to France? With a declining population rate, the picturesque village of Ambert in Puy-de-Dôme, known for its medieval streets and cheesemakers, is offering houses for €1. (Photo: Getty Images)https://t.co/82KfLIQXqm https://t.co/A8d3r70wGx ...

Want to relocate to France? With a declining population rate, the picturesque village of Ambert in Puy-de-Dôme, known for its medieval streets and cheesemakers, is offering houses for €1. (Photo: Getty Images)https://t.co/KVnielkgKy https://t.co/HFPaQuWkPf ...

Investment Rating - The industry investment rating is In-Line for both HK and ASEAN financials, with a preference for high total shareholder return (TSR) stocks in Singapore and Hong Kong [6][4]. Core Insights - The macroeconomic environment is expected to dominate discussions in the second half of the year, particularly regarding the impact of interest rates and potential tariffs on China and Hong Kong, as well as supply chain relocations into ASEAN [2][3]. - Singapore banks are anticipated to perform well, potentially benefiting from a lower cost of equity if revitalization measures for Singapore's equity market are implemented [2]. - Defensive stocks are favored in the current climate, with UOB being the most preferred bank in Singapore, while HSBC and Standard Chartered are expected to perform well due to dividends, share buybacks, and high return on equity (RoE) [2][4]. Summary by Sections Singapore and Hong Kong Financials - Preferred stocks include SGX, UOB, HSBC, and Standard Chartered, while Hang Seng and BoCHK are least preferred [4]. - Target prices for preferred stocks are set at 15.90 for SGX, 90.00 HKD for UOB, and 121.50 HKD for HSBC, with current prices showing slight upside potential for SGX and UOB, but downside for HSBC [8]. - The average daily traded value for UOB is 199 million USD, indicating strong liquidity [8]. Emerging Markets (EM) ASEAN - The report indicates a less favorable outlook for EM in the near term, particularly for Indonesia, where economic risks and lower commodity prices are expected to limit loan growth [3]. - The Philippines is highlighted as a preferred EM, benefiting from resilient RoE and increased retail lending penetration, with BDO and BPI being the preferred banks [3][9]. - Target prices for preferred EM banks include 10,017.00 for BCA and 8,625.00 for BRI, with current prices showing significant upside potential [9]. Financial Metrics - The report estimates a 2025 RoE of 33.3% for Singapore banks, with a target price-to-earnings ratio (PER) of 33.1 for SGX [8]. - Malaysian banks are expected to show defensive characteristics, but with stretched valuations compared to Singapore banks [2][3]. - The estimated dividend yield on target prices for preferred banks ranges from 2.3% for SGX to 6.0% for UOB in 2026 [9].

White House trade advisor Peter Navarro chastised Apple CEO Tim Cook on Monday over the company's response to pressure from the Trump administration to make more of its products outside of China."Going back to the first Trump term, Tim Cook has continually asked for more time in order to move his factories out of China," Navarro said in an interview on CNBC's "Squawk on the Street." "I mean it's the longest-running soap opera in Silicon Valley."CNBC has reached out to Apple for comment on Navarro's criticis ...

If you’re considering relocating for your finance career or simply want to maximize your earning power, these 10 U.S. cities offer high-paying finance jobs and a variety of lifestyles to match.Full list: https://t.co/g7veSf1mT3(Photo: Justin Sullivan via Getty Images) https://t.co/mbGinXz5Av ...

Investment Rating - The industry investment rating is Attractive [4] Core Insights - China exports have started to decline, with volumes down significantly year-over-year, indicating muted demand and well-stocked domestic US inventories [3][10] - The report suggests that the expected surge in imports during the 90-day tariff pause did not materialize, leading to lower US import volumes [7] - There is a potential shift in production to the US to avoid tariffs, which may support US manufacturing productivity and increase maintenance, repair, and operations (MRO) demand [7] - The report highlights risks to short-cycle production rates in the second half of 2025, particularly for companies that guided for stability or acceleration without acknowledging pre-buying [8] Summary by Sections China Exports - China maritime exports have shown a mild recovery from April lows but remain down year-over-year, reflecting a lack of urgency in US imports during the tariff pause [3][10] US Import Trends - US import volumes, particularly from LA and Long Beach, have decreased in May and June, suggesting a potential shift in supply chain strategies [12] Manufacturing and Production - The report indicates that US manufacturing capacity utilization has increased post-election, with a notable disconnect between ISM New Orders and Imports, suggesting a strategic relocation of production [7][17] - The report anticipates an extended capital expenditure upcycle in the US, benefiting from protectionist policies and resulting in strong backlogs for certain companies [8] Company-Specific Insights - Companies such as 3M, Lennox International, and Stanley Black & Decker are identified as most at risk for channel digestion in the second half of 2025 [8] - The report emphasizes a preference for US capital expenditure exposure, particularly in light of the current economic policies [8]

Financial Data and Key Metrics Changes - The net loss for the first quarter of 2025 was $4.2 million or $0.19 per diluted share, compared to a loss of $6.3 million or $0.29 per diluted share in the first quarter of 2024 [21] - Adjusted net loss was $5.3 million for Q1 2025 or $0.25 per diluted share, compared to $3.2 million or $0.15 per diluted share in 2024 [21] - Consolidated sales declined by 1.5% to $140.1 million, with US segment sales also decreasing by 1.5% to $128.5 million [22] - Gross margin decreased to 36.1% from 40.5%, driven by customer and product mix [23] Business Line Data and Key Metrics Changes - The major product line decreases were in kitchenware, largely offset by increases in tableware and home solution products, particularly in warehouse clubs, e-commerce, and the dollar channel [22] - In food service, revenue growth was noted despite delays in product launches and capital projects [14] - International segment sales were approximately flat year over year, with operating results improving due to implemented actions [15] Market Data and Key Metrics Changes - The mass retail channel experienced a pronounced decline, while e-commerce, the dollar channel, and club sales showed strong gains [6] - The Asia Pacific region saw an increase, offset by a small decrease from UK national accounts [22] Company Strategy and Development Direction - The company is transitioning to a geographically distributed sourcing and manufacturing model to mitigate risks from US trade policy changes, aiming to relocate 80% of manufacturing out of China by the end of 2025 [10][11] - Cost management measures have been tightened, with over $10 million in annual costs identified for elimination [17] - The company is actively pursuing M&A opportunities but is being conservative in its approach due to the current environment [18] Management's Comments on Operating Environment and Future Outlook - The management highlighted ongoing economic headwinds and a volatile tariff policy impacting pricing, promotions, and product planning [7] - The company is well-positioned to absorb near-term pressures and aims to emerge stronger when economic trends stabilize [19] - No formal guidance for the full year 2025 was issued due to a lack of visibility in the current environment [20] Other Important Information - The company has a strong balance sheet with liquidity of approximately $90 million at quarter-end [28] - Adjusted EBITDA for the trailing twelve months ended March 31, 2025, was $51 million [22] Q&A Session Summary Question: Can you provide additional numbers regarding the sales decline at mass retail and the sales increase in e-commerce and other channels? - The swing was approximately $15 million [32] Question: Can you give an update on the Dolly Parton program? - Shipments occurred as expected, and the program remains strong with anticipated year-over-year growth [34] Question: What is the magnitude of the planned price increases? - The bulk of the increases is between 6-16%, with the impact on volume currently unknown [36] Question: Why was the decision made not to provide guidance? - The main reason is the lack of visibility in the current environment, making it difficult to provide accurate guidance [44] Question: Why hasn't the transition out of China been completed already? - The company has been ramping up production in other geographies and is actively shipping from multiple locations [48] Question: How does the company expect demand to react to significant price increases? - Historically, the company has seen relatively little impact on demand from price increases, particularly in essential product categories [49] Question: What message would the company convey to shareholders regarding stock performance? - The company believes there is a significant intrinsic value gap and is focused on realizing this value in the stock price [52]

Fortune Brands Innovations (FBIN) Q1 2025 Earnings Call May 06, 2025 05:00 PM ET Company Participants Leigh Avsec - Chief of Staff & Executive VP - External AffairsNicholas Fink - CEODavid Barry - President, Security & Connected ProductsPhilip Ng - Managing DirectorTrevor Allinson - Director - Equity ResearchMichael Rehaut - Executive Director Conference Call Participants John Lovallo - Senior US Homebuilding & Building Products Equity Research AnalystSusan Maklari - Senior Equity Research Analyst Operator ...

Fortune Brands Innovations (FBIN) Q1 2025 Earnings Call May 06, 2025 05:00 PM ET Speaker0 Good afternoon, everyone. My name is Morgan, and I will be your conference operator today. Welcome to the Fortune Brands First Quarter twenty twenty five Earnings Conference Call. All lines are muted to prevent background noise. Following the speakers' remarks, we will open the call for a Q and A session. At this time, I'll turn the call over to Leigh Avsek, Executive Vice President, External Affairs and Chief of Staff ...