Jefferies’ coverage universe of domestic companies reported a 30% YoY growth in fourth-quarter earnings, led by a strong financial performance. Meanwhile, revenue growth remained at mid-teen levels during the quarter. The brokerage is bullish on cyclicals, citing over 40% growth in property sales and cap-good order flow. Following the quarter, Jefferies raised FY24 estimates for 45% of 136 companies, while 51% were downgraded. Banks reported a 46% growth in earnings, while autos and pharma firms also saw positive results. However, IT firms had a weak quarter, with significant revenue misses and weak guidance for FY24 revenues.
DGTR recommends countervailing duty on copper wire imports
The Directorate General of Trade Remedies (DGTR) suggests imposing countervailing duties, ranging from 3.46% to 10.27%, on copper wire imports from Vietnam, Thailand, Malaysia, and
April 8, 2025