In today’s briefing:
- Intel Q125 Earnings. Outlook Disappoints As LBT Shows Senior Executives The Door
- S&P500: Additions In May & June 2025 Following Capital One’s Approved Acquisition
- Copper Tracker 28th April 2025: A Huge Positive From The China March Lending Data
Intel Q125 Earnings. Outlook Disappoints As LBT Shows Senior Executives The Door
- Intel reported Q125 revenues of $12.7 billion, down 0.4% YoY, down 11% QoQ but still $500 million above the guided midpoint, precisely the same beat as in the prior quarter.
- Looking ahead, Intel forecasted current quarter revenues of $11.8 billion at the midpoint, this time extending the range from $1 billion in the prior quarter to $1.2 billion
- LBT is in the process of undertaking sweeping changes to his ELT, flattening its structure, taking on multiple additional reports and showing many senior executives the door. That’s good.
S&P500: Additions In May & June 2025 Following Capital One’s Approved Acquisition
- AppLovin (APP US) is forecasted to replace Discover Financial Services (DFS US) in S&P500 on 19 May following Capital One’s approved acquisition.
- CRH (CRH US) and Coinbase Global (COIN US) are forecasted to be added by June-July following the expected acquisitions of Kellogg Co (K US) and Ansys Inc (ANSS US).
- Zero changes are forecasted for S&P500 at the June 2025 review due to limited strong addition candidates which will be selected as replacements of upcoming acquisitions.
Copper Tracker 28th April 2025: A Huge Positive From The China March Lending Data
- China’s Total Social Financing (TSF) saw a 22% YoY rise, reaching 5.89 trillion yuan, surpassing the expected 4.8 trillion yuan and boosting optimism for preemptive stimulus measures.
- COMEX spreads rose above 1200 USD/ton, while Yangshan premiums climbed to 90 USD/ton, reinforcing our positive outlook on copper prices.
- Positive Q1 FY25 results from Southern Copper (SCCO US), First Quantum Minerals (FM CN), and Antofagasta PLC (ANTO LN)‘s positive production update have set the tone for a bullish copper outlook.
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