The Fed's interest rate decision + AMD's quarterly figures + Siemens Healthineers grows strongly + Fresenius also surprises at the start of the year + BMW expects tariff cuts + Quarterly figures from the USA in brief
The Fed's interest rate decision
- Investors are now looking ahead to the next highlight of political significance today, Wednesday: the Fed's interest rate decision.
- Observers are eager to see how the Fed will react to US President Donald Trump's demands to cut interest rates.
- It is expected to resist the political pressure and not adjust its key interest rates.
- In view of Trump's erratic tariff policy, the environment for monetary policy is very uncertain.
Quarterly figures from AMD $AMD (+0,84%)
- Advanced Micro Devices (AMD) reported non-GAAP earnings of $0.96 per diluted share for the first quarter on Tuesday, up from $0.62 a year earlier.
- Analysts polled by FactSet had expected $0.94.
- Revenue for the quarter ended March 29 was $7.44 billion, up from $5.47 billion a year earlier.
- Analysts had expected 7.12 billion US dollars.
- For the second quarter, the chip manufacturer expects sales of between 7.1 and 7.7 billion US dollars.
- Analysts are forecasting 7.22 billion US dollars.
- Advanced Micro shares rose by almost 5% after the close of trading.
Siemens Healthineers $SHL (+0,41%)grows strongly
- The medical technology group Siemens Healthineers grew more strongly than expected in the second quarter (to the end of March).
- Sales rose by 8.7 percent to 5.9 billion euros, as the company announced in Erlangen on Wednesday.
- On a comparable basis, revenue rose by 6.8 percent.
- This excludes currency and portfolio effects.
- The company benefited from good business in imaging and the US cancer specialist Varian.
- Adjusted earnings before interest and taxes (EBIT) improved by almost a fifth to 982 million euros.
- Savings from the restructuring of the diagnostics business also had a positive impact here.
- For fiscal year 2024/25, however, Siemens Healthineers was more cautious about earnings development due to the US tariffs.
- The company now expects adjusted earnings per share of between €2.20 and €2.50.
- Previously, the Group had forecast the lower end at 2.35 euros per share.
- Healthineers continues to expect comparable sales growth of five to six percent.
Fresenius $FRE (+0,9%)also surprises at the start of the year
- The hospital and pharmaceuticals group Fresenius continued to grow at the start of the year and earned a surprisingly high amount.
- "We have started the year 2025 with an excellent business development and confirm the outlook for the full year," said Group CEO Michael Sen in Bad Homburg on Wednesday.
- Adjusted for one-off effects, turnover climbed by seven percent to 5.63 billion euros in the first quarter compared to the previous year, according to the DAX-listed company.
- Adjusted earnings before interest and taxes (adjusted EBIT) increased by four percent to 654 million euros.
- Although the corresponding margin fell from 11.9 to 11.6 percent, Fresenius performed better than analysts had expected on average.
- The ongoing savings program and the core business with the flourishing generics provider Kabi once again provided a tailwind.
- In contrast, the hospital division Helios recorded a decline in earnings despite sales growth due to the loss of state energy subsidies in Germany.
- Group-wide, the result from continuing operations - i.e. excluding Fresenius Medical Care (FMC) - rose by 12 percent to 416 million euros.
BMW $BMW (+2,39%)expects tariff reductions
- The car manufacturer BMW is expecting tariff reductions in the summer and is therefore maintaining its outlook for the year.
- The tariff increases are likely to be only temporary in some cases and there should be reductions in tariffs from July 2025, the DAX-listed company announced in Munich on Wednesday.
- The current forecast takes into account tariff increases that have already come into force by March 12 as well as countermeasures taken by the company.
- "Due to the volatile development and the ongoing negotiations, the expected effects of customs duties can still only be depicted using assumptions," the Group said.
- BMW performed better than feared in the first quarter.
- Earnings before interest and taxes slipped by 22.5 percent to 3.14 billion euros due to the weakness in China, while sales fell by 7.8 percent.
- In the Automotive division, the operating margin (EBIT) fell by 1.9 percentage points to 6.9 percent.
- However, this was better than analysts' average estimates.
- At the bottom line, the surplus fell by a good quarter to 2.17 billion euros.
Quarterly figures from the USA in a nutshell
- Super Micro Computer Inc. $SMCI (-0,98%)exceeded analysts' estimates of USD 0.30 with earnings per share of USD 0.31 in the third quarter.
- Sales of USD 4.6 billion below expectations of USD 5.05 billion.
- Electronic Arts Inc. $EA (-1,51%)misses analysts' estimates of USD 1.08 with earnings per share of USD 0.98 in the fourth quarter.
- Sales of USD 1.9 billion above expectations of USD 1.55 billion.
- Corsair Gaming Inc. registered shares DL -.0001 $CRSR (+0,19%)misses analysts' estimates of USD 0.11 with earnings per share of USD 0.09 in the first quarter. Revenue of USD 396.8 million above expectations of USD 366.2 million.
Wednesday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
- Deutsche Lufthansa EUR 0.30
- EssilorLuxottica EUR 3.95
- Quarterly figures / company dates USA / Asia
- 12:30 Walt Disney quarterly figures
- 13:00 Uber Technologies quarterly figures
- 15:00 Philip Morris | Pepsico AGM
- 22:05 Qiagen | Adtran | Avis Budget quarterly figures
- Untimed: Sandisk quarterly figures
- Quarterly figures / Company dates Europe
- 07:00 Fresenius | Siemens Healthineers | Vonovia | Klöckner & Co | Aker ASA
- 07:30 Telecom Italia | Auto1 | BMW | Hensoldt | Novo Nordisk quarterly figures
- 07:30 Siemens Healthineers | Vonovia PK
- 07:45 Jungheinrich | Ahold Delhaize quarterly figures
- 08:00 Schaeffler | Flutter Entertainment Quarterly figures
- 08:30 Fresenius | BMW PK | Siemens Healthineers Analyst Conference
- 09:00 Endesa quarterly figures
- 10:00 Fuchs | Mercedes-Benz Group | Wacker Chemie | Grenke AGM
- 10:00 Klöckner & Co PK | Schaeffler Analyst Conference
- 10:15 BMW Analyst Conference
- 13:00 Novo Nordisk Analyst Conference
- 14:00 Auto1 Earnings Call
- 22:05 ARM Holding Quarterly Results
- Economic data
08:00 DE: New orders March seasonally adjusted FORECAST: +1.0% yoy previous: 0.0% yoy | Manufacturing turnover March
11:00 EU: Retail Sales March Eurozone PROGNOSE: +0.1% yoy previous: +0.3% yoy
20:00 US: Fed, outcome of FOMC meeting Fed funds target rate FORECAST: 4.25% to 4.50% previously: 4.25% to 4.50%
No time given: PO: ECB annual meeting
