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Diverging Reports Breakdown
KKR in talks to buy ST Telemedia Global Data Centres, Bloomberg News reports
U.S. investment firm KKR (KKR.N) is in talks to buy Singapore-based ST Telemedia Global Data Centres. The deal could value the Asian infrastructure provider at more than $5 billion. KKR is already a backer of the closely held data center company with a 14.1% stake.
July 26 (Reuters) – U.S. investment firm KKR (KKR.N) , opens new tab is in talks to buy Singapore-based ST Telemedia Global Data Centres in a deal that could value the Asian infrastructure provider at more than $5 billion, Bloomberg News reported on Saturday, citing people familiar with the matter.
KKR declined to comment while STT did not immediately reply to a Reuters request for comment.
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KKR is already a backer of the closely held data center company with a 14.1% stake, Bloomberg News reported.
In 2024, a consortium of KKR and Singapore Telecommunications (STEL.SI) , opens new tab invested S$1.75 billion ($1.37 billion) in ST Telemedia, whose businesses include data centres and infrastructure technology.
($1 = 1.2809 Singapore dollars)
Reporting by Harshita Meenaktshi in Bengaluru; Editing by Jan Harvey and Nick Zieminski
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Puma expects a loss this year due to falling sales, US tariffs
German sportswear brand Puma (PUMG.DE) expects to make a loss this year. Puma has been struggling to boost sales and profits. The board named a new chief executive in April in a bid to turn performance around. Citi analyst Monique Pollard said she expects a “materially negative” market reaction on Friday, after Puma shares made some gains over the past month.
Puma has been struggling to boost sales and profits, and the board named a new chief executive in April in a bid to turn performance around. Former Adidas sales chief Arthur Hoeld officially started on July 1.
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Puma did not say how big the annual loss is likely to be. It had previously expected earnings before interest and tax of between 445 million euros and 525 million euros for the year.
Puma also now expects currency-adjusted sales for the year to decline by at least 10%, having previously forecast low- to mid-single-digit growth.
Puma, which in March announced job cuts and warned of uncertain U.S. consumer demand, said “both sector-wide and company-specific challenges” would continue to significantly impact its performance.
Puma’s second-quarter currency-adjusted sales of 1.94 billion euros ($2.28 billion) were weaker than analysts expected, with North America sales dropping 9.1% and Europe down 3.9%.
Despite mitigation efforts like supply chain optimization and pricing adjustments, Puma said U.S. tariffs on imports would likely reduce its 2025 gross profit by approximately 80 million euros.
Citi analyst Monique Pollard said she expects a “materially negative” market reaction on Friday, after Puma shares made some gains over the past month. The stock is down around 44% since the start of the year.
($1 = 0.8516 euros)
Reporting by Nilutpal Timsina in Bengaluru; Additional reporting by Mrinmay Dey and Helen Reid; Editing by Alan Barona and Shri Navaratnam
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S&P 500 and Nasdaq notch record closes, lifted by Alphabet
The S&P 500 and the Nasdaq notched record high closes on Thursday. robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks. Tesla slumped after the electric vehicle maker’s results disappointed investors. UnitedHealth fell 4.8% after the insurer revealed it was cooperating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations. The Dow Jones Industrial Average declined 0.70% to 44,693.91 points. traders see a 60% chance of a September rate cut, according to CME’s FedWatch tool. The U.S.-Japan trade deal and recent signs of progress in talks with the European Union also fueled Wall Street’s gains. The S&p 500 posted 46 new highs and 6 new lows.
Companies Trump to visit Federal Reserve headquarters
UnitedHealth says it is cooperating with DOJ probe
S&P 500 +0.07%, Nasdaq +0.18%, Dow -0.70%
July 24 (Reuters) – The S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks, while Tesla slumped after the electric vehicle maker’s results disappointed investors.
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The U.S.-Japan trade deal and recent signs of progress in talks with the European Union also fueled Wall Street’s gains.
“Investors are feeling optimistic about trade negotiations, about the economy, the trend in inflation, as well as the better-than-expected Q2 earnings reports,” said Sam Stovall, chief investment strategist at CFRA Research.
Tesla (TSLA.O) , opens new tab tumbled 8.2% after CEO Elon Musk warned of a “few rough quarters” as the U.S. government cuts support for electric vehicle makers. The stock has fallen around 25% so far in 2025.
UnitedHealth fell 4.8% after the insurer revealed it was cooperating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations.
IBM dropped almost 8% after its second-quarter results fell flat with investors, hampered by disappointing sales in its core software division.
Honeywell fell 6.2% despite topping Wall Street’s expectations and raising its annual outlook.
The S&P 500 crept up 0.07% to end the session at 6,363.35 points. The Nasdaq gained 0.18% to 21,057.96 points, while the Dow Jones Industrial Average declined 0.70% to 44,693.91 points.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2022. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights , opens new tab
Volume on U.S. exchanges was relatively heavy, with 19.9 billion shares traded, compared to an average of 17.8 billion shares over the previous 20 sessions.
U.S. President Donald Trump’s global trade war has created the biggest uncertainty for the airline industry since the COVID-19 pandemic.
Markets were also monitoring Trump’s planned visit to the Federal Reserve’s headquarters on Thursday, following months of the president criticizing Fed Chair Jerome Powell for interest rates that Trump views as too high.
With the Fed widely expected to hold rates steady at next week’s meeting, traders see a 60% chance of a September rate cut, according to CME’s FedWatch tool.
A U.S. Labor Department report showed jobless claims last week fell to 217,000 – well below estimates – signaling continued resilience in the job market.
U.S. business activity gained momentum in July, but companies hiked prices on goods and services, fueling economists’ predictions of faster inflation in the months ahead, largely driven by rising import tariffs.
Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) , opens new tab by a 1.3-to-one ratio.
The S&P 500 posted 46 new highs and 6 new lows; the Nasdaq recorded 81 new highs and 44 new lows.
Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru, and by Noel Randewich in San Francisco; Editing by Maju Samuel and David Gregorio
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Puma shares dive after warning of full-year loss, US tariff impact
Puma has been struggling to attract shoppers as re-released retro sneakers, such as the Speedcat, have not sold as well as hoped. CEO Arthur Hoeld, in the role since July 1, said the company needs to “course-correct” Puma frontloaded shipments of goods from Asia ahead of successive U.S. tariff deadlines, driving inventory levels up and contributing to more discounting. Puma said annual sales would decline by at least 10%, having previously forecast low to mid-single-digit growth.. North America sales dropping 9.1% and Europe down 3.9%. It previously forecast earnings before interest and tax of between 445 million euros and 525 million euros for the year. The company did not say how big the annual loss was likely to be.
Companies Shares tumble 16%, new CEO says 2026 will be transition year
Puma frontloaded shipments ahead of U.S. tariff deadlines
High inventories have caused more discounting
Puma has been struggling to attract shoppers as re-released retro sneakers, such as the Speedcat, have not sold as well as hoped, and CEO Arthur Hoeld, in the role since July 1, said the company needs to “course-correct”.
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“This year, 2025, will be a reset for Puma and 2026 will be a transition year for us,” said Hoeld, formerly sales chief at Adidas, who was appointed by Puma’s board in April to turn performance around.
“We as a company need to take a hard look at ourselves,” he said on a conference call with journalists. “We do have tremendous potential with a brand that hasn’t been unlocked yet, but a brand that also requires a reset and a new way forward.”
Hoeld said he planned to review Puma’s growth plan and strengthen the quality of wholesale distribution, and that he would give a broader roadmap on his strategy for Puma by the end of October.
“Puma is facing an existential identity crisis in terms of relevance in a sporting goods industry that is more competitive, and at a time when the largest player Nike is staging its comeback from Autumn/Winter ’25,” said RBC analyst Piral Dadhania.
TARIFF HIT
U.S. tariffs will reduce Puma’s gross profit this year by about 80 million euros ($94 million) despite efforts to offset the pain, including U.S. price hikes in the fourth quarter, Chief Financial Officer Markus Neubrand said. He declined to say how much prices would go up.
Puma Speedcat OG sneakers are displayed at the Puma Mostro House in Paris, France, January 24, 2025. REUTERS/Abdul Saboor/File Photo Purchase Licensing Rights , opens new tab
Puma frontloaded shipments of goods from Asia ahead of successive U.S. tariff deadlines, Neubrand said, driving inventory levels up and contributing to more discounting.
Most Puma products sold in the United States are made in Vietnam, Cambodia, and Indonesia, Neubrand said, and the company aims to cut its sourcing from China to the U.S. further from 10% currently.
In preliminary earnings released late on Thursday, Puma said annual sales would decline by at least 10%, having previously forecast low to mid-single-digit growth.
Puma’s second-quarter currency-adjusted sales of 1.94 billion euros were weaker than analysts expected, with North America sales dropping 9.1% and Europe down 3.9%.
The company did not say how big the annual loss was likely to be. It previously forecast earnings before interest and tax of between 445 million euros and 525 million euros for the year.
Puma also cut its capital expenditure plans for the year to 250 million euros from 300 million euros previously.
($1 = 0.8520 euros)
Reporting by Ozan Ergenay in Gdansk and Helen Reid in London; Editing by Matt Scuffham, Tomasz Janowski, Edwina Gibbs and Emelia Sithole-Matarise
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S&P 500, Nasdaq close at records; Deckers soars on UGG demand
The S&P 500 and Nasdaq notched record high closes on Friday, lifted by optimism the U.S. could soon reach a trade deal with the European Union. Deckers Outdoor surged following a strong quarter for the maker of UGG boots and Hoka sneakers. Wall Street has surged to record highs in recent weeks, thanks to upbeat quarterly earnings, trade deals with Japan and the Philippines, and expectations that the White House will cement more agreements to avoid elevated tariffs threatened by Trump. The last time the index had a “perfect week” of closing highs, Monday through Friday, was in November 2021, according to Howard Silverblatt, senior index analyst at S/P Dow Jones Indices. Next week will focus on the United States Federal Reserve, with policymakers on Thursday expected to hold interest rates steady as the central bank weighs the impact of tariffs on inflation.
Companies Intel slides on quarterly loss
US clears $8.4-billion Paramount-Skydance merger
EU, US could sign trade agreement this weekend
S&P 500 +0.40%, Nasdaq +0.24%, Dow +0.47%
July 25 (Reuters) – The S&P 500 and Nasdaq notched record high closes on Friday, lifted by optimism the U.S. could soon reach a trade deal with the European Union, while Deckers Outdoor surged following a strong quarter for the maker of UGG boots and Hoka sneakers.
European Commission President Ursula von der Leyen will meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework trade deal this weekend. Trump said earlier that the odds of a U.S.-EU trade deal were “50-50”.
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Wall Street has surged to record highs in recent weeks, thanks to upbeat quarterly earnings, trade deals with Japan and the Philippines, and expectations that the White House will cement more agreements to avoid elevated tariffs threatened by Trump.
“The market has been anticipating that the deals are going to get done,” said Thomas Martin, Senior Portfolio Manager at GLOBALT in Atlanta. “Personally, I have a bit more skepticism. You’ve got to be careful, because if they don’t get done, there is more room for disappointment than there is upside.”
The S&P 500 climbed 0.40% to end the session at 6,388.64 points.
The Nasdaq gained 0.24% to 21,108.32 points, while the Dow Jones Industrial Average rose 0.47% to 44,901.92 points.
For the week, the S&P 500 climbed 1.5%, the Nasdaq added 1% and the Dow rose 1.3%.
The S&P 500 set a closing record every day this week. The last time the index had a “perfect week” of closing highs, Monday through Friday, was in November 2021, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
A Wall Street plate is seen on a street vendor stall outside the New York Stock Exchange (NYSE) in New York City, U.S., July 11, 2025. REUTERS/Jeenah Moon Purchase Licensing Rights , opens new tab
Investors next week will focus on the U.S. Federal Reserve, with policymakers on Thursday expected to hold interest rates steady as the central bank weighs the impact of tariffs on inflation.
Traders see about a 60% chance of a rate cut in September, according to CME’s FedWatch tool.
Trump said on Friday he believed that Fed Chair Jerome Powell might be ready to lower rates. Trump made a to the Fed on Thursday after calling earlier in the week for failing to slash rates.
Health insurer Centene (CNC.N) , opens new tab rose 6.1% after it said it expects to deliver improved profitability in its three government-backed healthcare insurance businesses in 2026.
S&P 500 companies are expected on average to increase their second-quarter earnings by 7.7% year over year, according to LSEG I/B/E/S, with most of those gains coming from heavyweight tech-related companies.
Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) , opens new tab by a two-to-one ratio.
The S&P 500 posted 45 new highs and 6 new lows; the Nasdaq recorded 68 new highs and 54 new lows.
Volume on U.S. exchanges was relatively light, with 17.7 billion shares traded, compared to an average of 18.1 billion shares over the previous 20 sessions.
Reporting by Nikhil Sharma and Pranav Kashyap in Bengaluru, and by Noel Randewich in San Francisco; Editing by Pooja Desai and David Gregorio
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