Section
The latest stocks coverage from the TrustFinance editorial desk.
The bank reported a net income of $6.41 billion for the second quarter, beating year-ago results, as strong loan growth boosted interest revenue and market volatility lifted trading.
International Business Machines shares fell sharply in pre-market trading after HSBC downgraded the stock to 'Reduce' from 'Hold' and set a new price target that implies significant downside from its previous close.
The bank's second-quarter net income rose to $9.1 billion, or $1.21 per share, driven by increased client activity amid global market volatility, according to its latest earnings report.
Boohoo Group shares rose over 4% after the online fashion retailer issued an upbeat trading statement, highlighting robust sales, improved margins, and progress on its debt reduction targets.
Shares in UK floor coverings distributor Headlam Group fell over 16% after the company reported a 22.8% drop in first-half revenue, an increase in net debt, and the launch of a strategic review.
The Polish e-commerce giant's shares surged after it pre-released second-quarter earnings that beat consensus estimates and confirmed the imminent start of a PLN 800 million share repurchase program.
Shares of the German steel producer climbed over 6% after Jefferies initiated coverage with a 'buy' rating, citing tightening EU trade protections and upcoming infrastructure spending. The move follows recent major upgrades from JPMorgan and Morgan Stanley.
Shares of Spanish construction firm Obrascon Huarte Lain (OHLA) fell sharply after J.P. Morgan placed a block of shares equivalent to 6% of the company at a significant discount to the previous day's close.
The German energy infrastructure firm was upgraded from 'Underperform' after its stock fell 40% from its peak, with Jefferies seeing limited further downside. However, a German policy shift away from underground cables poses a significant risk to future projects.
