Core Viewpoint - Home Depot has lowered its earnings forecast for fiscal year 2025 due to disappointing performance in the previous quarter, consumer uncertainty, and pressure in the housing market [1] Financial Performance - Home Depot expects diluted earnings per share to decline by approximately 6% in fiscal year 2025 compared to the previous fiscal year, a larger drop than the previously anticipated 3% in August [1] - The company's gross profit margin and operating profit margin expectations have also been revised downward [1] - In the third quarter of fiscal year 2025, Home Depot reported a net profit of $3.6 billion, a year-on-year decrease of 1.3%, with adjusted diluted earnings per share falling below market expectations [1] Market Conditions - The CEO, Ted Decker, noted that while potential demand remains relatively stable, the anticipated growth in demand for the third quarter did not materialize [1] - Consumer uncertainty and ongoing pressure in the housing market have significantly impacted the demand for home renovations [1] - CFO Richard McPhail indicated that the slowdown in the housing market and high borrowing costs have made consumers reluctant to spend significantly on home repairs, compounded by increased layoffs and declining home prices [1]

Core Viewpoint - Home Depot has lowered its earnings forecast for the fiscal year 2025 due to disappointing performance in the previous quarter, adverse weather conditions, consumer uncertainty, and ongoing pressures in the housing market [2] Group 1: Earnings Forecast and Financial Performance - Home Depot expects diluted earnings per share to decline by approximately 6% in fiscal year 2025, a larger drop than the previously anticipated 3% [2] - The company's gross profit margin forecast has been revised down from about 33.4% to 33.2%, and the operating profit margin is adjusted from around 13% to approximately 12.6% [2] - For the third quarter of fiscal year 2025, Home Depot reported a net profit of $3.6 billion, a year-on-year decrease of 1.3%, with adjusted diluted earnings per share at $3.74, down 1.1% from the previous quarter and below market expectations of $3.84 [2] Group 2: Sales and Market Conditions - Despite an increase in sales revenue forecast from about 2.8% to around 3% due to the acquisition of GMS, comparable sales growth has been revised down from about 1% to a slight increase [2] - The CEO noted that the third quarter's performance was impacted by a lack of storm-related demand, which put additional pressure on certain products [2] - Consumer uncertainty and ongoing pressures in the housing market are disproportionately affecting demand for home repairs, as indicated by the CFO [3] Group 3: Stock Market Reaction - Following the announcement, Home Depot's stock price experienced a decline of over 3% in early trading [4]

Core Viewpoint - Lingyun Co., Ltd. (600480) experienced a significant decline in stock price, dropping to a new low of 11.9 CNY per share, reflecting strong selling pressure in the market [1] Company Performance - As of the morning close, Lingyun Co., Ltd. saw a decrease of 3.48% in stock price, with a turnover rate of 1.53% and a trading volume exceeding 2.2 billion CNY, surpassing the total from the previous Friday [1] - The company's market capitalization is reported at 14.58 billion CNY, with a current share price of 11.93 CNY [2] Industry Outlook - Since October, several institutions, including Huaxi Securities, have lowered their earnings forecasts for Lingyun Co., Ltd. due to intensified industry competition, which is expected to pressure the company's gross margin in the short term [3] - Huaxi Securities revised its revenue projections for 2025-2027 to 20.742 billion CNY, 22.566 billion CNY, and 24.258 billion CNY, down from previous estimates of 21.495 billion CNY, 23.6 billion CNY, and 25.606 billion CNY [3] - The expected net profit attributable to the parent company for the same period has also been adjusted to 799 million CNY, 899 million CNY, and 994 million CNY, compared to earlier forecasts of 948 million CNY, 1.05 billion CNY, and 1.137 billion CNY [3]

Core Viewpoint - Evonik has revised its EBITDA expectations for Q3 2025, forecasting a range of €420 million to €460 million, reflecting a cautious market outlook and weaker demand across all business segments and end markets [1] Financial Performance - The adjusted EBITDA for Q2 2025 was reported at €509 million, benefiting from strong performance in April, but Q3 is expected to be lower due to ongoing economic challenges [1] - Market expectations for Q3 adjusted EBITDA are around €501 million, down from €577 million in the same period last year [1] - Q3 sales are projected to be approximately €3.4 billion, indicating a decline influenced by weak economic conditions [1] Future Outlook - Evonik has lowered its full-year adjusted EBITDA forecast for 2025 to about €1.9 billion, down from a previous range of €2 billion to €2.3 billion, with the latest market expectation at €1.96 billion [1] - The company anticipates a cash conversion rate between 30% and 40%, indicating challenges in managing working capital due to weak demand [1] - A complete quarterly report is scheduled for release on November 4, 2025 [1]