On Friday, Jim Cramer, host of Mad Money, talked about the various market events taking place through the week and focused on corporate earnings, interest rates, and market expectations. “The president’s been real quiet about stocks lately since the deal with Pfizer. That makes it look like the drug companies won’t get hurt too badly by the president’s plan to roll back drug prices. The gains in big pharma have been outstanding, and they continued today. I’d like to see a deal with at least one more drug co ...

Core Points - Canadian Pacific Kansas City Limited (CP) reported first-quarter 2025 earnings of 74 cents per share, in line with Zacks Consensus Estimate, reflecting a 7.3% year-over-year improvement [1] - Operating revenues were $2.64 billion, slightly missing the Zacks Consensus Estimate of $2.66 billion, but showed year-over-year growth [1] - Total freight revenues per revenue ton miles increased by 5% year-over-year, while total freight revenues per carload rose by 6% year-over-year [2] Financial Performance - Operating income increased by 15%, with total operating expenses growing by 5% year-over-year, resulting in an operating ratio improvement of 210 basis points to 65.3% from 67.4% [2] - Freight revenues, which accounted for 98.2% of total revenues, increased by 8.7% to $3.72 billion, surpassing the estimate of $3.5 billion [3] - Cash and cash equivalents at the end of the first quarter were C$695 million, down from C$739 million in the previous quarter, while long-term debt rose to C$21.1 billion from C$19.8 billion [5] Segment Performance - The Freight segment saw varied performance: Grain up 4%, Coal up 21%, Potash up 10%, Energy, chemicals and plastics up 3%, Automotive up 18%, while Metals, minerals and consumer products decreased by 1% [4] - Other revenues increased by 7.6% year-over-year in the first quarter of 2025 [4] Outlook - The company expects 2025 core adjusted combined diluted earnings per share to grow in the 10-14% range, revised from a prior view of 12-18%, targeting C$4.25 per share [6] - Capital expenditures for the full year are projected to be C$2.9 billion, with an expected core adjusted effective tax rate of 24.5% [7]

Core Viewpoint - Air Lease Corporation (AL) reported strong first-quarter 2025 results, with earnings and revenues exceeding expectations, driven by increased rental revenues and aircraft sales, despite higher interest expenses [1][2]. Financial Performance - Quarterly earnings per share (EPS) reached $1.51, surpassing the Zacks Consensus Estimate of $1.24, marking a 15.3% year-over-year improvement [1]. - Total revenues amounted to $738.3 million, exceeding the Zacks Consensus Estimate of $710.8 million, and grew 11.3% year over year [2]. Revenue Breakdown - Revenues from the rental of flight equipment increased by 5% year over year to $645 million, attributed to fleet growth, although offset by a $12.7 million decrease in end-of-lease revenue [4]. - Revenues from aircraft sales, trading, and other sources surged by 90% year over year to $93 million, driven by heightened sales activity, including $61 million in gains from the sale of 16 aircraft [4]. Operating Expenses and Financial Position - Operating expenses rose by 13.4% year over year to $598.6 million [5]. - As of March 31, 2025, Air Lease owned 487 aircraft with a net book value of $28.6 billion, and the total fleet size was 804 [5]. - Cash and cash equivalents at the end of the first quarter were $456.62 million, down from $472.55 million in the previous quarter, while debt financing decreased to $19.8 billion from $20.2 billion [6]. Management Commentary - The CEO highlighted a strong quarter characterized by fleet expansion, significant sales gains, and insurance settlements related to aircraft in Russia, while noting no aircraft deliveries to countries with reciprocal tariffs [3]. - The company continues to benefit from robust global aircraft demand amid significant supply constraints [3].