On this episode of Stock Movers:
- BP’s finances took another battering in the first quarter, with a slump in cash flow and rising debt forcing the company to cut its buyback to the low end of its target range. The company was already seen as the most vulnerable oil major to weakening markets, and its first-quarter earnings reinforced that view.
- Porsche said its profit margin will slip into single digits this year, with the luxury-car maker warning about US tariffs and higher costs from weak electric-vehicle adoption. The German manufacturer now expects return on sales to fall to as low as 6.5%, down from a previous projection of at least 10%.
- Rheinmetall’s military sales soared 73% in the first quarter, as Europe’s increased defense spending drove up orders for the manufacturer’s armored trucks and weapons. The defense giant, which has a record €62.6 billion order backlog, is poised to see sales surge further as Germany’s relaxation of fiscal rules unlocks defense spending and Europe picks up efforts to decrease its reliance on the US.
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