[MARKET ANALYSIS] European bourses mixed, Alstom slumps after withdrawing guidance; US equity futures remain near ATHs
- European bourses (STOXX 600 +0.1%) are broadly gaining on the last day of the trading week. The FTSE MIB is the slight outperformer, while the FTSE 100 lags as miners underperform.
- Sectors are mixed. Media tops the sector pile, closely followed by Technology while Basic Resources resides at the bottom of the pile.
- Key movers include Alstom (-30%), after the co. removed its 3-year FCF guidance while stating its medium-term ambition of adj. EBIT margin will no longer be met by FY 26/27; Ericsson (-1.4%), reported Q1 adj. EBIT and revenue that missed estimates; Delivery Hero (+3.7%), as Uber takes an additional 4.5% in the German food delivery firm.
- US equity futures continue to gain, hovering around ATHs. Despite the positiveness, Netflix shares have slumped (-9.2% pre-market) as analysts were left disappointed after the co. reiterated its FY guidance despite beating its Q1 top-line metrics.
Context
European equity markets are seeing mixed performance with Alstom’s significant slump following the withdrawal of its three-year free cash flow guidance, which raises concerns about its future profitability. Meanwhile, US equity futures remain robust near all-time highs, though Netflix's sharp pre-market drop highlights potential disillusionment among investors despite earnings beats, indicating a focus on forward guidance and future growth expectations.
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