ABN Amro Bank NV reported quarterly profit that beat analysts’ estimates as fee income surged and lending income also rose. Net income for the three months through March amounted to €692 million ($812 million), the Amsterdam-headquartered lender said in a statement on Wednesday. That compared with analyst expectations of €597.2 million in a Bloomberg survey. Chief Executive Officer Marguerite Bera...
ABN Amro Bank NV reported quarterly profit that beat analysts’ estimates as fee income surged and lending income also rose. Net income for the three months through March amounted to €692 million ($812 million), the Amsterdam-headquartered lender said in a statement on Wednesday. That compared with analyst expectations of €597.2 million in a Bloomberg survey. Chief Executive Officer Marguerite Berard , who’s been at the helm for a year, has sought to cut costs and pull back from less profitable businesses. She’s cutting a net 5,200 staff by 2028, offloading a personal loan unit and bolstering ABN Amro’s retail banking presence with a €960-million acquisition of Dutch competitor. ABN Amro eliminated 528 jobs in the first quarter, while saying it expects a “moderation in the pace of reductions” for the rest of the year. The bank also improved its guidance for costs in the full year to about €5.5 billion. Net interest income —the difference between what the bank earns on loans and pays on deposits— beat estimates in the first quarter. Fees rose 20%, buoyed by its purchase of German wealth manager Hauck Aufhäuser Lampe AG and the clearing business, which has benefited from elevated market volatility, it said. Dutch banks, which still largely depend on interest-linked income, are set to benefit from potential rate increases by the European Central Bank as it assesses fallout from the Iran war. “The Dutch economy has remained resilient so far, although the war in the Middle East has increased uncertainty,” Berard said in the statement. “We maintain a conservative outlook for Dutch house price growth and expect fewer transactions this year.” ABN Amro still targets a return on equity of more than 12% and a cost-to-income ratio of below 55% in 2028. The Dutch state, which is ABN Amro’s largest shareholder, has been steadily paring its stake in the lender with a goal of reaching about 20%. Its holding stood at 24.9%, according to a regulatory filing in April. Net interest inco...
Valneva press release ( VALN ): Q1 GAAP EPS of -€0.18. Revenue of €30.9M (-37.2% Y/Y). Total product sales of €30.5 million. Cash position of €105.3 million as of end March 2026, excluding proceeds from successful reserved offering completed in April 2026 . Operating cash burn continued to decline, improving to €0.3 million in the first quarter of 2026, compared to €8.1 million in the first quarte...
Valneva press release ( VALN ): Q1 GAAP EPS of -€0.18. Revenue of €30.9M (-37.2% Y/Y). Total product sales of €30.5 million. Cash position of €105.3 million as of end March 2026, excluding proceeds from successful reserved offering completed in April 2026 . Operating cash burn continued to decline, improving to €0.3 million in the first quarter of 2026, compared to €8.1 million in the first quarter of 2025. Financial Outlook Valneva is adjusting its 2026 sales and revenue guidance partially as a result of an emerging adverse trend in travel vaccine uptake across key markets, driven by geopolitical factors. The Company is therefore revising its product sales guidance to €135 million to €150 million from €145 million to €160 million previously Other revenues are reconfirmed – resulting in a new total revenue guidance of €145 million to €160 million. More on Valneva Valneva SE (VALN) Q4 2025 Earnings Call Transcript Valneva SE 2025 Q4 - Results - Earnings Call Presentation Pfizer, Valneva SE report phase 3 results for Lyme vaccine candidate Valneva inks licensing deal with Elaris for vaccine technology Seeking Alpha’s Quant Rating on Valneva
Mohamad Faizal Bin Ramli/iStock via Getty Images The gasoline price spike hit CPI inflation for the second month, but electricity prices also spiked, core services inflation spiked – it’s the biggie, accounting for over 60% of CPI – and food prices jumped. So it’s a mess – and even if the Fed wants to “look through” the impact of the gasoline price spike, it’s going to smack into surging core serv...
Mohamad Faizal Bin Ramli/iStock via Getty Images The gasoline price spike hit CPI inflation for the second month, but electricity prices also spiked, core services inflation spiked – it’s the biggie, accounting for over 60% of CPI – and food prices jumped. So it’s a mess – and even if the Fed wants to “look through” the impact of the gasoline price spike, it’s going to smack into surging core services inflation, accelerating food inflation, and surging electricity inflation driven by the AI bubble. The all-items CPI spiked, seasonally adjusted, by 0.64% in April from March, or by 8.0% annualized, on top of the majestic spike in the prior month (blue line in the chart). Not seasonally adjusted, it was even worse: +0.85% (+10.7% annualized). Year-over-year, the all-items CPI jumped by 3.81%, the worst inflation reading since April 2023, according to data from the Bureau of Labor Statistics today (red in the chart). Negative “real” rates: The year-over-year CPI, rising by 3.8%, has now blown by the Federal Reserve’s policy interest rates of 3.5% to 3.75%, thereby turning the Fed’s policy rates negative in “real” terms (adjusted for CPI). This situation of short-term borrowing costs below the rate of inflation is stimulative of inflation and of the economy. The bond market should freak out if the Fed sits on its hands and watches it play out. The CPI for core services , which excludes energy utilities such as electricity, jumped by 0.50% (+6.2% annualized) in April from March, the worst spike since March 2024 (blue in the chart below). It was driven by hot inflation in housing (Rent and Owners Equivalent of Rent, see below), lodging away from home, including hotels and motels and airline fares. It weighs over 60% in the all-items CPI. Year-over-year, it accelerated to +3.3% (red line). The “core CPI,” which excludes the spike in energy prices and food prices, jumped by 0.38% in April from March (+4.6% annualized), the worst increase since January 2025. Year-over-year, i...
The Surfers Paradise development has been abandoned with Altus Property Group and the Trump Organization blaming each other The little-known property developer and the US president’s son were all smiles when they shook hands on Valentine’s Day within the gilded walls of Mar-a-Lago on a deal they claimed would bring a Trump Tower to Australia’s Gold Coast . But that dalliance has been dashed in les...
The Surfers Paradise development has been abandoned with Altus Property Group and the Trump Organization blaming each other The little-known property developer and the US president’s son were all smiles when they shook hands on Valentine’s Day within the gilded walls of Mar-a-Lago on a deal they claimed would bring a Trump Tower to Australia’s Gold Coast . But that dalliance has been dashed in less than three months, with the developer now claiming the Trump brand is now too “toxic” to work with – and the Trump Organization responding that their local partner had provided only “empty promise, after empty promise”. Continue reading...
India’s travel industry fears that an appeal by Prime Minister Narendra Modi to avoid unnecessary foreign travel will squeeze new bookings after inflationary pressure knocked down summer overseas inquiries by as much as 15 per cent, industry and analysts say. The pullback is set to hit the peak season for outbound tourism, when affluent families seek cooler locations in Europe and Australia, duri...
India’s travel industry fears that an appeal by Prime Minister Narendra Modi to avoid unnecessary foreign travel will squeeze new bookings after inflationary pressure knocked down summer overseas inquiries by as much as 15 per cent, industry and analysts say. The pullback is set to hit the peak season for outbound tourism, when affluent families seek cooler locations in Europe and Australia, during school holidays that run from April to June. “The prime minister has a great following, and...
Earnings Call Insights: Tenon Medical (TNON) Q1 2026 Management View Tenon Medical reported a record first-quarter setup for the year, with CEO Steven Foster framing the quarter around procedure growth, SImmetry+ contribution, and cost discipline: "We delivered strong first quarter revenue and gross profit, which were the highest for any first quarter in the company's history." (CEO, President & D...
Earnings Call Insights: Tenon Medical (TNON) Q1 2026 Management View Tenon Medical reported a record first-quarter setup for the year, with CEO Steven Foster framing the quarter around procedure growth, SImmetry+ contribution, and cost discipline: "We delivered strong first quarter revenue and gross profit, which were the highest for any first quarter in the company's history." (CEO, President & Director Steven Foster) Foster tied growth to adoption across both platforms and recent training activity, saying, "On the top line, growth came from 2 places: a higher number of Catamaran cases and the first full quarter of meaningful SImmetry+ contribution since we acquired the SiVantage assets late last August." (CEO, President & Director Foster) Foster highlighted margin durability and the commercial model shift: "We are also benefiting from a more streamlined commercial footprint and stronger field productivity. We expect these structural gains to persist going forward." (CEO, President & Director Foster) Foster emphasized financing as a de-risking step for execution: "In March, we closed a $4.3 million senior convertible note placement... That financing extends our runway and gives us the flexibility to keep investing behind commercial expansion, product launches and our clinical programs without further distraction." (CEO, President & Director Foster) CFO Kevin Williamson described the SImmetry+ ramp and the planned second-half commercial push: "Further product enhancements and a full commercial launch of SImmetry+ are planned for in the back half of 2026, which we expect to support continued growth this year and into 2027 and beyond." (CFO & Secretary Kevin Williamson) Outlook Management did not issue formal revenue or EPS guidance on the call; commentary focused on product milestones, commercial scaling, and margin direction. Foster laid out multiple 2026 catalysts tied to SImmetry+ and a new approach, saying, "SImmetry+... has been in Alpha since late fall and is n...
Allianz SE , the owner of bond manager Pacific Investment Management Co. , reported a record profit in the first quarter, helped by its property-casualty insurance and the asset management business. Operating profit at the Munich-based insurer rose 6.6% to €4.52 billion ($5.3 billion), it said in a statement. Analysts polled by Bloomberg had estimated a profit of €4.4 billion. Pimco attracted €37....
Allianz SE , the owner of bond manager Pacific Investment Management Co. , reported a record profit in the first quarter, helped by its property-casualty insurance and the asset management business. Operating profit at the Munich-based insurer rose 6.6% to €4.52 billion ($5.3 billion), it said in a statement. Analysts polled by Bloomberg had estimated a profit of €4.4 billion. Pimco attracted €37.6 billion from outside clients in the quarter, while its smaller sister unit Allianz Global Investors recorded €7.6 billion in third-party inflows. Allianz aims to generate a full-year operating profit of €17.4 billion, “plus or minus €1 billion,” a target it confirmed on Wednesday. Chief Executive Officer Oliver Baete has vowed to pay out more of Allianz’s profit, while also focusing on deals in Asia-Pacific, a strategic growth region for the firm. He set up a new insurance joint venture in India and unsuccessfully tried to acquire a majority stake in Singapore’s Income Insurance Ltd. Allianz has also been considering a bid for HSBC Holdings Plc ’s Singapore insurance unit, Bloomberg reported . Analysts at Goldman Sachs Group Inc. raised their recommendation on Allianz to buy last month. The company’s strong operational performance “has been clouded” by a number of debates that are overdone, for example over private credit and technology, they wrote in a note.