Fri, Nov 15, 2024 2:39 PM
Hold Devyani International; target of Rs 180: Sharekhan
A Flip by Shubhangi Gupta
Applied Materials' Q4 earnings missed expectations, despite revenue beating estimates, due to a decline in net income to $1.73 billion or $2.09 per share. Revenue grew 5% year-over-year to $7.05 billion, but China sales slowed 28% to $2.14 billion. The company's Q1 guidance also fell short of expectations, sending shares 4% lower.
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Citigroup analysts expect emerging market stocks to underperform due to Donald Trump's trade policies, which could drag on global growth and strengthen the US dollar, pressuring emerging market assets. Certain markets, such as Saudi Arabia and South Africa, are seen as less exposed to trade risks. Citigroup has a "neutral" rating on developing markets stocks.
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Treasuries edged higher, paring their weekly decline as traders turned their focus from Donald Trump’s US election victory to the latest economic data prints and Federal Reserve speakers. The yield on the 10-year note slipped for a second day, leaving it up about 12 basis points in the week. Investors will get more clues about the scope for Fed easing with US retail sales numbers due later Friday.
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