Shares of analog chips maker onsemi (NASDAQ:ON)
fell 8% in the afternoon session after the company posted underwhelming results for the first quarter of 2025, with sales down 22% from the previous year. Each of its main business lines (power, analog, and sensing) saw big drops. Another concern was the big hit to profit margins due to write-downs on stock and factory assets.
Even though sales tumbled, the firm still beat earnings forecasts.
For next quarter, the company expects sales to stay flat (q/q) and margins to bounce back a little, though still far from last year's levels. All told, it was a weak quarter.
The ISM services PMI for April came in better than expected. Making up about 70% of the US economy, the services sector grew at a slightly faster pace than last month.
The S&P 500 Dividend Aristocrats posted an annualized return of 10.23% over the 20-year period since its launch, aligning closely with benchmark performance.
In April the important aspects of the services report reversed higher, as the headline number rose 0.8 to 51.6, and the more leading new orders reading rose 1.9 to 52.3.
"Some skeptics continue to call S&P 500's 8-day winning streak a bear market rally, But I believe the gains can hold," says financial influencer Gav Blaxberg.
ETF share classes have so far failed to gather traction with both investors and promoters since there are only a small number of ETFs available in Europe.
Major cryptocurrencies are off to a muted start this week as traders brace for the FOMC meeting and key macroeconomic data that could shape the market’s next move.
