Economy
Corporate Earnings News Remains in Spotlight on Wall Street
By Investors Hub
The major U.S. index futures are currently pointing to a modestly lower opening on Friday following the mixed performance seen in the previous session.
A mixed batch of earnings news may contribute to choppy trading on Wall Street as traders react to the latest quarterly results from several big-name companies.
Shares of Intel (INTC) are moving notably higher in pre-market trading after the semiconductor giant released its third quarter results.
Intel reported better than expected quarterly results, raised its full-year revenue guidance, and added $20 billion to its stock repurchase program.
Telecom giant Verizon (VZ) may also move to the upside after reporting third quarter results that beat analyst estimates on both the top and bottom lines.
On the other hand, shares of Amazon (AMZN) are likely to come under pressure, with the online retail giant slumping by 6.3 percent in pre-market trading.
The drop by Amazon comes after the company reported weaker than expected third quarter earnings and provided a disappointing forecast for holiday sales.
Strength among tech stocks contributed to a notable advance by the Nasdaq, although the Dow and the S&P 500 spent most of Thursday’s session lingering near the unchanged line.
The major averages eventually ended the day mixed, as the Dow closed modestly lower. While the Dow edged down 28.42 points or 0.1 percent to 26,805.51, the Nasdaq climbed 66.00 points or 0.8 percent to 8,185.80 and the S&P 500 rose 5.77 points or 0.2 percent to 3,010.29.
The tech-heavy Nasdaq benefited from a positive reaction to earnings news Microsoft (MSFT), with the software giant climbing by 2 percent.
After the close of trading on Wednesday, Microsoft reported quarterly results that exceeded analyst estimates, boosted by cloud and Office revenues.
Electric car maker Tesla (TSLA) also posted a standout gain on the day after reporting an unexpected third quarter profit.
Meanwhile, shares of Twitter (TWTR) came under pressure after the social media giant reported weaker than expected third quarter results and provided disappointing guidance.
A steep drop by shares of 3M (MMM) weighed on the day after the diversified manufacturer reported third quarter earnings that beat estimates but lowered its full-year earnings outlook.
Traders were also digesting a slew of U.S. economic data, including a report from the Commerce Department showing a steep drop in orders for transportation equipment contributed to a bigger than expected decrease in durable goods orders in September.
The Commerce Department said durable goods orders tumbled by 1.1 percent in September after rising by a revised 0.3 percent in August.
Economists had expected durable goods orders to decline by 0.8 percent compared to the 0.2 percent uptick that had been reported for the previous month.
Excluding the nosedive in orders for transportation equipment, durable goods orders dipped by 0.3 percent in September after climbing by 0.3 percent in August. Ex-transportation orders had expected to edge down by 0.2 percent.
A separate report from the Commerce Department showed new home sales pulled back in September after a sharp increase in the previous month.
The report said new home sales slid by 0.7 percent to an annual rate of 701,000 in September after spiking by 6.2 percent to a revised rate of 706,000 in August.
Economists had expected slump by 1.7 percent to a rate of 701,000 from the 713,000 originally reported for the previous month.
Meanwhile, the Labor Department released a report showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended October 19th.
The report said initial jobless claims dipped to 212,000, a decrease of 6,000 from the previous week’s revised level of 218,000.
Economists had expected jobless claims to inch up to 215,000 from the 214,000 originally reported for the previous week.
Gold stocks moved sharply higher over the course of trading session, driving the NYSE Arca Gold Bugs Index up by 3.4 percent. The spike by gold stocks came amid an increase by the price of the precious metal.
Significant strength was also visible among semiconductor stocks, which rebounded after falling sharply in the previous session. The Philadelphia Semiconductor Index surged up by 2.5 percent after tumbling by 1.9 percent on Wednesday.
The upbeat earnings news from Microsoft also contributed to a rally by software stocks, with the Dow Jones U.S. Software Index jumping by 2.2 percent.
On the other hand, oil service stocks saw substantial weakness on the day, dragging the Philadelphia Oil Service Index down by 1.6 percent. The sell-off came despite an increase by the price of crude oil.
Networking stocks also showed a notable move to the downside, with the NYSE Arca Networking Index falling by 1.5 percent.
By Modupe Gbadeyanka
President Bola Tinubu has expressed satisfaction with the disbursement of N636 billion as loans to business owners in the Micro, Small and Medium Enterprises (MSMEs) in the country by the Bank of Industry (BoI) in 2025.
In a statement signed by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the Nigerian leader disclosed that the development validates his government’s economic reform agenda.
Over 7,000 enterprises were given soft loans worth N636 billion by the lender last year, the highest annual financing volume in the institution’s history.
A breakdown of the financing shows that N202 billion was allocated to agro-allied enterprises, N100 billion to critical national infrastructure, including broadband, power, aviation, and transportation, N79 billion to manufacturing, N77 billion to extractive industries, and N55 billion to services.
In addition, the bank deployed N73 billion in managed and matching funds on behalf of state governments and institutional partners.
Under the BoI 2025 disbursement, strategic interventions included upgrading a tomato processing facility from 3.1 metric tonnes per hour to 10 metric tonnes per hour and linking 47,508 smallholder farmers to formal processing value chains.
The bank also supported the deployment of 100 mini-grids in partnership with global development finance institutions, connecting 11,777 new customers to electricity. BOI-financed projects contributed to an estimated annual reduction of over 20,000 tonnes of carbon emissions.
“The N636 billion disbursed by the Bank of Industry in 2025 translates directly into productive capacity across Nigeria. It financed agro-processing expansion, strengthened manufacturing output, supported infrastructure delivery, and empowered thousands of enterprises across our states.
“At a time of global financing constraints, Nigeria expanded access to long-term capital for its businesses. That is a direct outcome of reform, credibility, and institutional discipline,” Mr Tinubu said.
It was observed that disbursement by business size reflects a deliberate inclusion strategy. Nano enterprises received N51 billion. Micro businesses accessed N32 billion. Small and medium enterprises received N178 billion in financing, while large enterprises accounted for N375 billion.
Under the federal government’s N200 billion MSMEs intervention programme, BoI recorded over 95 per cent performance as the disbursing institution. The Presidential Conditional Grant Scheme reached 957,400 beneficiaries in 2025 alone.
In addition, BOI’s financing activities led to the creation and retention of approximately 1.6 million jobs. The bank supported more than 7,000 MSMEs and 570 startups during the year.
Inclusive financing initiatives also recorded a measurable impact. Through the Guaranteed Loans for Women Programme, a N10 billion gender-focused facility providing up to N50 million per beneficiary, women-owned enterprises expanded access to affordable credit. Youth-owned enterprises received N12 billion in financing. Under the Rural Area Programme on Investment for Development, 880 rural-based enterprises across the 36 states and the FCT accessed over N6.5 billion.
The President further noted that BOI maintained strong asset quality, recording a non-performing loan ratio below 1.5 per cent despite macroeconomic headwinds. He also acknowledged the €2 billion syndicated facility secured in 2024 and the additional €210 million mobilised from international partners in 2025, which strengthened the Bank’s lending capacity.
“Development finance must be disciplined, measurable, and aligned with national priorities. What we are witnessing is the transition from strategy to scale.
“Our economic transformation will be built on production, value addition, and enterprise growth. We will continue to crowd in capital, deepen institutional reform, and ensure that access to finance supports real sector expansion across Nigeria,” President Tinubu stated.
He reaffirmed his administration’s resolve to consolidate reform gains and expand credit access to enterprises as part of a long-term strategy to accelerate industrialisation and inclusive economic growth.
By Adedapo Adesanya
Six equities buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 2.13 per cent on Thursday, February 12, as the market capitalisation added N49.12 billion to end at N2.357 trillion compared with the previous day’s N2.308 trillion.
In the same vein, the NASD Unlisted Security Index (NSI) went up by 82.09 points during the session to settle at 3,940.90 points versus Wednesday’s closing value of 3,858.81 points.
Okitipupa Plc improved its value by N22.00 yesterday to N242.00 per share from N220.00 per share, Central Securities Clearing System (CSCS) Plc grew by N6.55 to N77.08 per unit from N70.53 per unit, NASD Plc rose by N4.62 to N50.88 per share from N46.26 per share, Food Concepts Plc appreciated by 29 Kobo to N3.20 per unit from N2.91 per unit, IPWA Plc advanced by 28 Kobo to N3.13 per share from N2.85 per share, and UBN Property Plc rose 1 Kobo to sell at N2.20 per unit compared with the preceding session’s N2.19 per unit.
Conversely, FrieslandCampina Wamco Nigeria Plc went down by N1.57 to N68.10 per share from N69.67 per share, and Geo-Fluids Plc depreciated by 39 Kobo to N3.63 per unit from N4.02 per unit.
As for the activity chart, the volume of trades declined by 99.2 to 8.6 million units from 1.06 billion units, the value of transactions shrank by 88.4 per cent to N53.9 million from N465.7 million, and the number of deals decreased by 25 per cent to 42 deals from 56 deals.
CSCS Plc remained the most active stock by value (year-to-date) with 18.2 million units valued at N790.9 million, trailed by Resourcery Plc with 1.05 billion units traded at N408.6 million, and Geo-Fluids Plc with 29.5 million units sold for N150.9 million.
Resourcery Plc closed the session as the most traded stock by volume (year-to-date) with 1.05 billion units worth N408.6 million, followed by Geo-Fluids Plc with 29.5 million units exchanged for N150.9 million, and Mass Telecom Innovation Plc with 20.1 million units transacted for N8.1 million.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited almost succumbed to profit-taking on Thursday, but for Seplat, which pulled its string to salvage the situation.
Seplat triggered a buying interest in its shares after informing the investing public of its intention to release its full-year results for 2025 on February 26, 2026.
It almost singlehandedly lifted the energy index by 4.64 per cent yesterday. This sector was the only one of the five with green at the close of business.
The others were in red, with the insurance space down by 1.47 per cent, the industrial goods segment went down by 1.09 per cent, the banking index closed lower by 0.13 per cent, and the consumer goods sector shrank 0.04 per cent.
Analysis showed that the All-Share Index (ASI) soared on Thursday by 441.28 points to 178,625.63 points from 178,184.35 points, and the market capitalisation grew by N283 billion to N114.660 trillion from N114.377 trillion.
Business Post reports that 46 equities were in green during the session and 35 equities ended in red, implying a positive market breadth index and bullish investor sentiment.
The trio of Deap Capital, RT Briscoe, and Seplat gained 10.00 per cent each to settle at N8.69, N15.84, and N8,107.00 apiece, while Zichis rose by 9.97 per cent to N9.82, with ABC Transport surging by 9.91 per cent to N7.43.
On the flip side, NAHCO lost 9.98 per cent to trade at N148.45, Abbey Mortgage Bank depressed by 9.68 per cent to N11.20, Eterna gave up 9.50 per cent to close at N30.00, May and Baker depreciated by 9.19 per cent to N40.50, and Ecobank weakened by 8.72 per cent to N45.00.
Access Holdings was the most active stock yesterday with 52.1 million units sold for N1.3 billion, Zenith Bank exchanged 42.5 million units worth N3.3 billion, Tantalizers transacted 42.1 million units valued at N253.9 million, GTCO traded 40.8 million units worth N4.3 billion, and Deap Capital transacted 34.4 million units valued at N298.1 million.
When the closing gong was struck by 2:30 pm to signify the end of trading activity, investors had bought and sold 698.3 million shares worth N28.4 billion in 50,886 deals compared with 939.2 million shares valued at N34.0 billion exchanged in 61,279 deals a day earlier.
This showed that yesterday, the trading volume, value, and number of deals decreased by 25.65 per cent, 16.47 per cent, and 16.96 per cent, respectively.
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