Helios Technologies, Inc.

Key Points
Revenue (GAAP) exceeded expectations, reaching $212.5 million for Q2 2025 compared to the $202.99 million consensus.
Non-GAAP earnings per share were $0.59, surpassing the $0.51 analyst estimate, but down from last year's diluted Non-GAAP EPS of $0.64.
Full-year FY2025 guidance was raised, despite persistent year-over-year sales and margin declines.
Helios Technologies (NYSE:HLIO), a global industrial technology company focused on hydraulics and electronics for diverse markets, released its second quarter 2025 earnings on August 4, 2025. The headline news was a revenue beat—GAAP sales reached $212.5 million, ahead of the $202.99 million Wall Street estimate. Non-GAAP earnings per share (EPS) reached $0.59, beating the analyst consensus of $0.51. Still, both GAAP revenue and net income declined compared to the same period last year, highlighting continued pressures in some business units and regions. Management described the quarter as a sequential rebound, but noted that structural challenges and macro risks remain, especially in the Electronics segment and with ongoing global tariff uncertainty.
Metric
Q2 2025
Q2 2025 Estimate
Q2 2024
Y/Y Change
EPS (Non-GAAP)
$0.59
$0.51
$0.64
(8%)
Revenue (GAAP)
$212.5 million
$202.99 million
$219.9 million
(3%)
Diluted EPS (GAAP)
$0.34
$0.41
(17%)
Adjusted EBITDA Margin
18.6%
20.1%
(1.5) pp
Non-GAAP Adjusted Operating Margin
15.0%
16.4%
(1.4) pp
Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report.
Business Overview and Success Factors
Helios Technologies (NYSE:HLIO) designs and manufactures hydraulic and electronic solutions for industrial, mobile, and recreational markets worldwide. Its offerings include hydraulic cartridge valves, quick release couplings, motion control solutions, and electronic controls and displays. The company operates through two primary segments: Hydraulics and Electronics.
Key to its business success are several strategic pillars. These include a disciplined acquisition strategy, continued product innovation with a focus on automation and digital solutions, strongglobal marketpresence, and diversification into new end markets such as defense and food service. Operational excellence—reflected in a focus on cash flow, margins, and balance sheet health—also stands out as a corporate priority. Over the past year, management has emphasized a more proactive go-to-market approach, organizational streamlining, and targeting growth opportunities created by shifting global trade dynamics.
Quarterly Financial and Operational Highlights
The second quarter yielded tangible results from this strategic approach, although not without ongoing headwinds. Revenue (GAAP) beat expectations, rising $9.5 million above consensus, but still fell 3% year-over-year. Sequentially, GAAP net sales showed a notable 9% increase from Q1 2025.
The Hydraulics segment, which supplies components like cartridge valves and quick couplings, saw GAAP net sales of $140.9 million. Regional performance was mixed: EMEA climbed 8% while the Americas declined 9% and APAC slipped 6%. Gross profit in Hydraulics increased 4% year over year as lower material and labor costs offset the burden from lower volume and tariffs. Operating margin (GAAP) improved by 130 basis points, boosted by these efficiency gains even as sales volume shrank. EMEA stood out as the only region in Hydraulics to show sales expansion.
The Electronics segment, composed of product families like Enovation Controls' industrial displays and Balboa's spa and pool controls, posted GAAP revenues of $71.6 million—down 4% from the prior year. Strong growth in APAC (up 27%) was not enough to counter declines in the Americas and EMEA. Margin pressure stemmed largely from a $2.4 million one-time import classification expense, alongside higher material and freight costs. Electronics gross margin (GAAP) fell from 34.6% in Q2 2024 to 29.3%. and operating margin dropped 570 basis points to 8.2%.
Company-wide, consolidated gross margin (GAAP) was 31.8%, a drop of 30 basis points from the previous year. Operating margin (GAAP) slipped by 150 basis points, and adjusted EBITDA margin decreased to 18.6%. Despite these declines, Sequential margin improvement was achieved compared to Q1 2025, reflecting stronger cost control and better sales leverage. Net income fell 16% year over year on a GAAP basis. Cash from operations was a bright spot, at $37.0 million—its highest since late 2019 and the second-best in company history. Debt declined by $67 million compared with the prior year period, illustrating steady balance sheet strengthening.
There were a few notable tactical actions this quarter. The company agreed to divest its Custom Fluidpower business for approximately $83 million AUD, a move that fits with management’s post-listening tour focus on streamlining and targeting core brands. There were also ongoing product advances and launches, such as the introduction of Sun Hydraulics’ electro-proportional valves and Enovation Controls’ S35 display.
Dividends continued to be paid, marking the 114th consecutive quarter, at a rate of $0.09 per share. Helios also repurchased 200,000 shares at an average price of $32.29.
Management Outlook and Key Watchpoints
Management upgraded full-year FY2025 guidance, raising the sales outlook to $810–830 million, adjusted EBITDA margin to 18.5–19.5%, and Non-GAAP EPS to $2.30–$2.50. Q3 2025 expectations call for net sales between $208 million and $215 million, an adjusted EBITDA margin of 19.5–20.5%, and Non-GAAP EPS between $0.60–$0.68.
Risks remain significant. Management highlighted an anticipated $15 million tariff hit during the second half of 2025, emphasizing its plan for "dollar-for-dollar" abatement through pricing, production shifts, and alternative sourcing. However, the potential for margin pressure remains if these impacts are not fully offset. Margin risks are particularly acute in Electronics, where declining volume and rising input costs have eroded profitability. If market volumes do not recover, management noted that further restructuring might be on the table beyond margin improvement efforts.
Investors should watch the company's execution on global tariff mitigation, segment margin stabilization, and progress on new product launches. The Hydraulics segment’s organic net sales growth in constant currency was -4%. Electronics margin trends, effectiveness of recent price actions, and further cash flow generation are also crucial. The recently announced Custom Fluidpower divestiture and continued operational streamlining should support further deleveraging ambitions in the near term.
HLIO pays a quarterly dividend of $0.09 per share, which has been maintained for 114 consecutive quarters.
Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted.
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Helios (HLIO) Q2 Revenue Beats by 5%

Helios Technologies (HLIO) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +20.41%. A quarter ago, it was expected that this maker of screw-in hydraulic cartridge valves and manifolds would post earnings of $0.36 per share when it actually produced earnings of $0.44, delivering a surprise of +22.22%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Helios Technologies, which belongs to the Zacks Manufacturing - General Industrial industry, posted revenues of $212.5 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 6.09%. This compares to year-ago revenues of $219.9 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Helios Technologies shares have lost about 20.6% since the beginning of the year versus the S&P 500's gain of 6.1%.
What's Next for Helios Technologies?
While Helios Technologies has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Helios Technologies was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.50 on $198.9 million in revenues for the coming quarter and $1.90 on $789.4 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - General Industrial is currently in the top 16% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Graham (GHM), is yet to report results for the quarter ended June 2025. The results are expected to be released on August 5.
This maker of vacuum and heat-transfer equipment is expected to post quarterly earnings of $0.25 per share in its upcoming report, which represents a year-over-year change of -24.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Graham's revenues are expected to be $55.18 million, up 10.5% from the year-ago quarter.
Should You Invest in Helios Technologies, Inc (HLIO)?
Before you invest in Helios Technologies, Inc (HLIO), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Helios Technologies (HLIO) Beats Q2 Earnings and Revenue Estimates

HELIOS TECHNOLOGIES ($HLIO) is expected to release its quarterly earnings data on Monday, February 24th after market close, per Finnhub. Analysts are expecting revenue of $179,392,500 and earnings of $0.35 per share.
You can see Quiver Quantitative's $HLIO stock page to track data on insider trading, hedge fund activity, congressional trading, and more.
HELIOS TECHNOLOGIES Insider Trading Activity
HELIOS TECHNOLOGIES insiders have traded $HLIO stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $HLIO stock by insiders over the last 6 months:
MATTEO ARDUINI (President of Hydraulics, EMEA) sold 4,000 shares for an estimated $215,920
DIANA SACCHI sold 615 shares for an estimated $33,154
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
HELIOS TECHNOLOGIES Hedge Fund Activity
We have seen 93 institutional investors add shares of HELIOS TECHNOLOGIES stock to their portfolio, and 84 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. added 708,715 shares (+5804.4%) to their portfolio in Q4 2024, for an estimated $31,637,037
WELLINGTON MANAGEMENT GROUP LLP removed 559,459 shares (-27.7%) from their portfolio in Q4 2024, for an estimated $24,974,249
BROWN CAPITAL MANAGEMENT LLC removed 282,656 shares (-15.6%) from their portfolio in Q4 2024, for an estimated $12,617,763
CONESTOGA CAPITAL ADVISORS, LLC added 266,127 shares (+15.5%) to their portfolio in Q4 2024, for an estimated $11,879,909
SARA-BAY FINANCIAL added 247,088 shares (+25.5%) to their portfolio in Q4 2024, for an estimated $11,030,008
ROCKEFELLER CAPITAL MANAGEMENT L.P. added 195,779 shares (+362.8%) to their portfolio in Q4 2024, for an estimated $8,739,574
UBS GROUP AG added 133,275 shares (+567.6%) to their portfolio in Q4 2024, for an estimated $5,949,396
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

HELIOS TECHNOLOGIES Earnings Preview: Recent $HLIO Insider Trading, Hedge Fund Activity, and More

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Monday, shares of Helios Technologies Inc (Symbol: HLIO) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $43.24 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 39.4. A bullish investor could look at HLIO's 29.3 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of HLIO shares:
Looking at the chart above, HLIO's low point in its 52 week range is $39.08 per share, with $57.29 as the 52 week high point — that compares with a last trade of $43.94.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Helios Technologies Enters Oversold Territory (HLIO)

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
BHP Group Limited BHP is a resources company. The Zacks Consensus Estimate for its current year earnings has been revised 5.9% downward over the last 60 days.
Douglas Dynamics, Inc. PLOW is a work truck equipment manufacturer and upfitter company. The Zacks Consensus Estimate for its current year earnings has been revised 11.1% downward over the last 60 days.
Helios Technologies, Inc. HLIO is a motion control and electronic control technology company.The Zacks Consensus Estimate for its current year earnings has been revised 7% downward over the last 60 days.
View the entire Zacks Rank #5 List.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

New Strong Sell Stocks for December 24th

In trading on Thursday, shares of Helios Technologies Inc (Symbol: HLIO) crossed below their 200 day moving average of $46.87, changing hands as low as $46.49 per share. Helios Technologies Inc shares are currently trading off about 2% on the day. The chart below shows the one year performance of HLIO shares, versus its 200 day moving average:
Looking at the chart above, HLIO's low point in its 52 week range is $39.08 per share, with $57.29 as the 52 week high point — that compares with a last trade of $46.82.
Click here to find out which 9 other stocks recently crossed below their 200 day moving average »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

HLIO Crosses Below Key Moving Average Level

Shareholders of Helios Technologies Inc (Symbol: HLIO) looking to boost their income beyond the stock's 0.7% annualized dividend yield can sell the March 2025 covered call at the $55 strike and collect the premium based on the $2.30 bid, which annualizes to an additional 10.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 11.7% annualized rate in the scenario where the stock is not called away. Any upside above $55 would be lost if the stock rises there and is called away, but HLIO shares would have to advance 12.9% from current levels for that to happen, meaning that in the scenario where the stock is called, the shareholder has earned a 17.6% return from this trading level, in addition to any dividends collected before the stock was called.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Helios Technologies Inc, looking at the dividend history chart for HLIO below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 0.7% annualized dividend yield.
Below is a chart showing HLIO's trailing twelve month trading history, with the $55 strike highlighted in red:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the March 2025 covered call at the $55 strike gives good reward for the risk of having given away the upside beyond $55. (Do most options expire worthless? This and six other common options myths debunked). We calculate the trailing twelve month volatility for Helios Technologies Inc (considering the last 250 trading day closing values as well as today's price of $48.94) to be 42%. For other call options contract ideas at the various different available expirations, visit the HLIO Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Monday, the put volume among S&P 500 components was 804,296 contracts, with call volume at 1.88M, for a put:call ratio of 0.43 so far for the day. Compared to the long-term median put:call ratio of .65, that represents very high call volume relative to puts; in other words, buyers are preferring calls in options trading so far today. Find out which 15 call and put options traders are talking about today.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

How To YieldBoost HLIO To 11.7% Using Options

In trading on Thursday, shares of Helios Technologies Inc (Symbol: HLIO) crossed above their 200 day moving average of $44.72, changing hands as high as $45.47 per share. Helios Technologies Inc shares are currently trading up about 4.8% on the day. The chart below shows the one year performance of HLIO shares, versus its 200 day moving average:
Looking at the chart above, HLIO's low point in its 52 week range is $37.50 per share, with $56.42 as the 52 week high point — that compares with a last trade of $45.70.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

HLIO Crosses Above Key Moving Average Level

The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.07%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.13%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.07%.
Stock indexes settled mixed on Tuesday, with the S&P 500 and Nasdaq 100 posting new all-time highs. Strength in bank stocks and chip stocks led the overall market higher. Weakness in restaurant stocks and higher T-note yields were negative factors for equities. The broader market remained higher Tuesday after balanced comments from Fed Chair Powell.
Fed Chair Powell said Tuesday that "more good data" would strengthen confidence that inflation is moving down toward the Fed's 2% target, and recent readings point to "modest further progress" on prices. He added that the labor market is strong but not overheated, and easing too soon and too much could harm inflation progress.
The markets are looking ahead to Thursday’s June US CPI report to see if price pressures are continuing to ease. The consensus is that the June CPI eased to +3.1% y/y from +3.3% y/y in May, and the June core CPI remained unchanged from May at +3.4% y/y. Finally, Q2 earnings season begins Friday as some of the biggest US banks, including JPMorgan Chase, Citigroup, and Wells Fargo, will report quarterly results.
The markets are discounting the chances for a -25 bp rate cut at 5% for the next FOMC meeting on July 30-31 and 71% for the following meeting on September 17-18.
Overseas stock markets on Tuesday settled mixed. The Euro Stoxx 50 closed down -1.33%. China's Shanghai Composite recovered from a 4-1/2 month low and closed up +1.26%. Japan's Nikkei Stock 225 Index rallied to a new all-time high and closed up +1.96%.
Interest Rates
September 10-year T-notes (ZNU24) Tuesday closed down -6 ticks. The 10-year T-note yield rose +2.0 bp to 4.298%. Sep T-notes Tuesday were under pressure on negative carryover from a fall in European government bonds. Also, comments from Fed Chair Powel undercut T-notes when he said policymakers want to see more evidence of cooling inflation before cutting interest rates. T-notes recovered from their worst levels Tuesday on solid demand for the Treasury’s $58 billion auction of 3-year T-notes with a bid-to-cover ratio of 2.67, above the 10-auction average of 2.58.
European government bond yields Tuesday moved higher. The 10-year German bund yield rose +4.0 bp to 2.580%. The 10-year UK gilt yield rose +4.6 bp to 4.159%.
ECB Governing Council member Panetta said the ECB shouldn't be overly worried about stubborn services inflation and still-robust wage growth and that "the reduction in key interest rates will continue at a gradual pace, accompanying the return of inflation to target, if macroeconomic developments remain in line with the ECB Governing Council's expectations."
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 4% for the July 18 meeting and 74% for the September 12 meeting.
US Stock Movers
Bank stocks rallied Tuesday to boost the overall market after Reuters reported the Fed is weighing a reduction in the amount of extra capital that the biggest US banks need to hold as part of the GSIB surcharge. As a result, Citigroup (C) and Morgan Stanley (MS) closed up more than +2%. Also, Goldman Sachs (GS), JPMorgan Chase (JPM), Bank of America (BAC), Northern Trust (NTRS), M&T Bank (MTB), and Wells Fargo (WFC) closed up more than +1%.
Chip stocks rose Tuesday after KeyBanc Capital Markets raised its price target on Nvidia to $180 from $130. As a result, Nvidia (NVDA) and Applied Materials (AMAT) closed up more than +2%. Also, Intel (INTC) closed up more than +1% to lead gainers in the Dow Jones Industrials. In addition, Lam Research (LRCX) closed up +0.99%, and KLA Corp (KLAC) closed up +0.96%,
Corning (GLW) closed up more than +3% after Argus Research raised its price target on the stock to $50 from $40.
Principal Financial Group (PFG) closed up more than +3% after Raymond James upgraded the stock to strong buy from market perform with a price target of $99.
Fair Isaac (FICO) closed up more than +2% after Wolfe Research initiated coverage of the stock with a recommendation of outperform and a price target of $1,725.
CRH Plc (CRH) closed up more than +2% after Morgan Stanley upgraded the stock to overweight from equal weight with a price target of $88.
Albemarle (ALB) is down more than -8% to lead losers in the S&P 500 after UBS cut its price target on the stock to $109 from $124.
Restaurant stocks fell Tuesday after Piper Sandler said June traffic trends for casual dining, family dining, fine dining, and quick service establishments failed to show “any real evidence of noteworthy improvement” from an “uninspiring” May. As a result, Brinker International (EAT) closed down more than -5%, and Domino’s Pizza (DPZ) and Jack in the Box (JACK) closed down more than -4%. Also, Chipotle Mexican Grill (CMG), Darden Restaurants (DRI), and Papa John’s International (PZZA) closed down more than -3%.
Heartland Express (HTLD) closed down more than -4% after UBS downgraded the stock to neutral from buy.
CSX Corp (CSX) closed down more than -2% after it said it would review the capitalization of certain prior engineering materials and labor.
Helen of Troy (HELE) closed down more than -27% after reporting preliminary Q1 adjusted EPS of 99 cents, well below the consensus of $1.59, and cutting its 2025 adjusted EPS estimate to $7.00-$7.50 from a prior estimate of $8.70-$9.20, weaker than the consensus of $8.93.
Helios Technologies (HLIO) closed down more than -10% after placing CEO and president Matosevic on paid leave following allegations of a potential violation of the company’s Code of Business Conduct and Ethics.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Finish Higher on Balanced Comments from Fed Chair Powell

The S&P 500 Index ($SPX) (SPY) today is up +0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.27%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.28%.
Stock indexes today are mixed, with the S&P 500 and Nasdaq 100 posting new all-time highs. Today's strength in chip stocks is leading technology stocks and the overall market higher. Higher T-note yields today are a negative factor for equities. The broader market remained higher today after balanced comments from Fed Chair Powell.
Fed Chair Powell said today that "more good data" would strengthen confidence that inflation is moving down toward the Fed's 2% target and recent readings point to "modest further progress" on prices. He added that the labor market is strong but not overheated, and easing too soon and too much could harm inflation progress.
The markets are looking ahead to Thursday’s June US CPI report to see if price pressures are continuing to ease. The consensus is that the June CPI eased to +3.1% y/y from +3.3% y/y in May, and the June core CPI remained unchanged from May at +3.4% y/y. Finally, Q2 earnings season begins Friday as some of the biggest US banks, including JPMorgan Chase, Citigroup, and Wells Fargo, will report quarterly results.
The markets are discounting the chances for a -25 bp rate cut at 5% for the next FOMC meeting on July 30-31 and 75% for the following meeting on September 17-18.
Overseas stock markets today are mixed. The Euro Stoxx 50 is down -1.09%. China's Shanghai Composite recovered from a 4-1/2 month low and closed up +1.26%. Japan's Nikkei Stock 225 Index rallied to a new all-time high and closed up +1.96%.
Interest Rates
September 10-year T-notes (ZNU24) today are down -7 ticks. The 10-year T-note yield is up +2.5 bp at 4.304%. Sep T-notes are under pressure today on negative carryover from a fall in European government bonds. Also, supply pressures are weighing on T-notes as the Treasury will auction $119 billion of T-notes and T-bonds this week, beginning with today’s auction of $58 billion of 3-year T-notes.
European government bond yields today are higher. The 10-year German bund yield is up +2.8 bp at 2.568%. The 10-year UK gilt yield is up +4.5 bp at 4.158%.
ECB Governing Council member Panetta said the ECB shouldn't be overly worried about stubborn services inflation and still-robust wage growth and that "the reduction in key interest rates will continue at a gradual pace, accompanying the return of inflation to target, if macroeconomic developments remain in line with the ECB Governing Council's expectations."
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 4% for the July 18 meeting and 73% for the September 12 meeting.
US Stock Movers
Chip stocks are climbing today after KeyBanc Capital Markets raised its price target on Nvidia to $180 from $130. As a result, Nvidia (NVDA) is up more than +3% to lead gainers in the S&P 500 and Nasdaq 100. Also, Micron Technology (MU) is up more than +2%. ARM Holdings Plc (ARM) and Applied Materials (AMAT) are up more than +1%.
Corning (GLW) is up more than +3% after Argus Research raised its price target on the stock to $50 from $40.
Principal Financial Group (PFG) is up more than +2% after Raymond James upgraded the stock to strong buy from market perform with a price target of $99.
CRH Plc (CRH) is up more than +1% after Morgan Stanley upgraded the stock to overweight from equal weight with a price target of $88.
CH Robinson Worldwide (CHRW) is up more than +1% after Vertical Research Partners upgraded the stock to buy from hold with a price target of $102.
Albemarle (ALB) is down more than -6% to lead losers in the S&P 500 after UBS cut its price target on the stock to $109 from $124.
Heartland Express (HTLD) is down more than -7% after UBS downgraded the stock to neutral from buy.
CSX Corp (CSX) is down more than -2% after it said it would review the capitalization of certain prior engineering materials and labor.
Helen of Troy (HELE) is down more than -29% after reporting preliminary Q1 adjusted EPS of 99 cents, well below the consensus of $1.59, and cutting its 2025 adjusted EPS estimate to $7.00-$7.50 from a prior estimate of $8.70-$9.20, weaker than the consensus of $8.93.
Helios Technologies (HLIO) is down more than -14% after placing CEO and president Matosevic on paid leave following allegations of a potential violation of the company’s Code of Business Conduct and Ethics.
Chewy (CHWY) is down more than -2% after Argus Research downgraded the stock to hold from buy.
Earnings Reports (7/9/2024)
Byrna Technologies Inc (BYRN), Helen of Troy Ltd (HELE), Kura Sushi USA Inc (KRUS), SMART Global Holdings Inc (SGH).
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On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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