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Yahoo
9 hours ago
- Business
- Yahoo
Stocks to watch next week: Nike, BlackBerry, Micron, Babcock and Bunzl
While market focus is likely to remain on geopolitical tensions and economic data in the coming week, investors will also be keeping an eye on earnings releases from companies across a range of sectors. Investors will be looking at Nike's (NKE) latest results for any commentary on how tariff uncertainty is impacting the sportswear giant. In the tech space, BlackBerry (BB) is due to report, with the company having warned of uncertainty going into the current financial year. Chipmaker Micron (MU) is also set to release its latest earnings off the back of recently announcing increased investment in its US operations. On the London market, the focus will be on Babcock International's (BAB.L) full-year results, with the company's shares having rallied this year on expectations of more government spending on defence. Another FTSE 100 (^FTSE) stock in the spotlight will be distribution company Bunzl, which is due to update on trading, following a challenging start to its financial year. Here's more on what to look out for: Shares in Nike (NKE) are down 21% year-to-date, with the stock coming under pressure amid uncertainty over US president Donald Trump's tariffs. The stock fell sharply following Trump's unveiling of sweeping duties on "Liberation Day" on 2 April, which included a 46% tariff rate on Vietnam, where approximately half of Nike's footwear was manufactured last year. While Trump later announced a 90-day pause on many of these higher tariff rates, the US and Vietnam are still negotiating over a deal, with the delay on imposing "reciprocal" duties set to end on 9 July. There are concerns that companies making products in countries impacted by higher tariffs will be forced to pass on cost increases to the consumer by raising prices. Read more: Why the UK's AIM is struggling 30 years on In May, Nike announced plans to raise prices on selected products from 1 June, but did not make reference to tariffs as the reason for increases. 'We regularly evaluate our business and make pricing adjustments as part of our seasonal planning,' Nike said in a statement. The uncertainty over tariffs comes as the company seeks to improve performance, as it faces increased competition from newer rivals On (ONON) and Deckers' (DECK) Hoka. Nike's revenue in the third quarter fell 9% year-to-year to $11.27bn (£8.34bn), though this was ahead of estimates of $11.03bn. Net income declined 32% to $794m and diluted earnings per share of $0.54 were down 30%. Elliott Hill, who took over as Nike CEO in October, said that the progress the company had made against its "Win Now" turnaround plan in its first 90 days had reinforced his confidence that it was "on the right path". "What's encouraging is Nike made an impact this quarter leading with sport — through athlete storytelling, performance products and big sport moments," he said. Shares in BlackBerry tumbled after the release of its full-year results in early April, in which the Ontario-based technology company forecast a decline in revenue in the coming year. BlackBerry said it expected total revenue for the 2026 fiscal year to be between $504m and $534m. That would be slightly weaker than the $534.9m in total revenue the company reported for the 2025 fiscal year. 'We see an uncertain backdrop within automotive, given the recent tariff changes, and particularly automotive tariffs,' BlackBerry chief financial officer Tim Foote told analysts on a post-earnings conference call. Read more: UK borrowing rises in May, making tax hikes 'increasingly likely' 'We are currently uncertain of the impact this could have on our business," he said. "While we don't see that tariffs will directly impact our products and services, we do expect some indirect effects on BlackBerry due to impacts on our customers, including supply chains." The company was once a major player in the smartphone market but transitioned to making software for vehicles and devices, and selling cybersecurity solutions to governments and corporate clients. For the first quarter, BlackBerry guided to revenue of $107m to $115m, which would be down on the $144m the company reported for the same period last year. Chipmaker Micron recently announced plans with the Trump administration to boost its investment in the US to $200bn, amid a broader drive of encouraging companies to onshore operations in America. Of this amount, $150bn is set to be invested in domestic memory manufacturing, while $50bn will go towards research and development, which Micron said would create an estimated 90,000 jobs. In the announcement, US secretary of commerce Howard Lutnick said: "President Trump has made it clear that the time to build in America is now." Read more: Stocks that are trending today "Micron's planned investment will ensure the US advances its lead across critical industries like AI, automotive, and aerospace & defense." Micron CEO Sanjay Mehrotra said that the plans underscored the company's commitment to "driving innovation and strengthening the domestic semiconductor industry". In terms of company performance, Micron (MU) beat expectations in the second quarter, with revenue of $8.05bn besting estimates of $7.91bn. Adjusted earnings of $1.56 per share also came in ahead of forecasts of $1.43. For the third quarter, Micron has guided to revenue of $8.8bn, plus or minus $200m, while diluted earnings per share are expected to come in at $1.57, plus or minus $0.10. Shares in FTSE 100 (^FTSE) company Babcock International (BAB.L) have surged 114% so far this year, buoyed by European politicians' pledges to spend more on defence. The engineering company provides equipment and systems to the defence and energy industries, and is the second-biggest supplier to the UK's ministry of defence behind BAE Systems (BA.L), as well as holding contracts with NATO and countries worldwide. "Given the UK's and NATO's plans to increase defence spending, and greater emphasis in many countries on nuclear power — where Babcock's Cavendish operation is a leader in support, maintenance and decommissioning — shareholders are latching on to the shares, which trade at a 10-year high," said AJ Bell's (AJB.L) investment experts Russ Mould, Danni Hewson and Dan Coatsworth. Stocks: Create your watchlist and portfolio A trading update in April set the scene as to what to expect in the final full-year results, with Babcock having guided to revenue of £4.83bn ($6.51bn), which would be up 11% on an organic constant currency basis. The company expects to report an underlying operating profit of £363m, which would be up 17% year-on-year. In addition, Babcock said it had a contracted backlog of £10.1bn as of 31 March, up from $9.5bn at the half-year point. "Babcock rejoined the dividend list last year, with a distribution of 5p a share, and analysts are looking for 7.2p this time around," said AJ Bell's investment experts. For the coming year, they said that analysts expect 5% sales growth to £5bn, £383m in underlying operating profit for a 7.7% margin and broadly flat free cash flow, with an increase in the dividend to 9.1p a share. Shares in Bunzl (BNZL.L) plunged in April after the distribution and services giant cut its guidance for the year, citing challenges in its North America business. In a first quarter trading statement, Bunzl reported 2.6% revenue growth for the period but said adjusted operating profit was down "significantly" year-on-year. The company, which distributes products to companies ranging from paper towels to personal protective equipment (PPE), said it was reducing its 2025 guidance "reflect the operational challenges faced by our largest business in North America, and the implications on the remainder of the year from a more challenging start for the group." Read more: Why bitcoin and gold are rallying as bond yields hit 30-year highs Bunzl said it now expects moderate revenue growth for the year, "driven by announced acquisitions and broadly flat underlying revenue". The company's group operating margin for the year is expected to be moderately below 8%, compared to 8.3% in 2024. Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: "Bunzl's reputation as a steady ship is under some serious pressure after a disappointing first quarter that was as much self-inflicted as due to a weakening market." "North America, Bunzl's largest and most profitable market, is facing headwinds due to missteps in pricing strategy and broader market pressures," he said. "Markets are expecting to hear more in next week's trading statement about how Bunzl has resolved some of the pricing issues and the ongoing impact of tariffs." "Bunzl has historically been able to benefit in times of rising prices, and investors are still cautiously optimistic that some more positive commentary is around the corner," added Britzman. Monday 23 June CML Microsystems (CML.L) Naspers ( Prosus ( Tuesday 24 June Accsys Technologies ( Telecom Plus (TEP.L) Intercede (IGP.L) SThree (STEM.L) FedEx (FDX) Carnival (CCL.L) Wednesday 25 June ProCook (PROC.L) Alimentation Couche-Tard ( General Mills (GIS) Thursday 26 June Volex (VLX.L) CakeBox (CBOX.L) James Latham (LTHM.L) Serco (SRP.L) Inchcape (INCH.L) Moonpig (MOON.L) Friday 27 June Various Eateries (VARE.L) You can read Yahoo Finance's full calendar here. Read more: Looming petrol price increase could hit fragile consumer confidence Bank of England holds interest rates at 4.25% amid inflation fears Eurozone inflation falls below ECB target to 1.9%
Toronto Sun
a day ago
- Business
- Toronto Sun
Company to pay $330Gs after Edmonton worker trapped in smokehouse, dies in 92 C heat
Published Jun 19, 2025 • Last updated 12 minutes ago • 3 minute read Sofina Foods plant, 9620 56 Ave., in Edmonton Thursday June 13, 2024. Photo by David Bloom EDMONTON — A commercial food processing company has been ordered to pay $330,000 after one of its workers became trapped in an Edmonton smokehouse and died. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Ontario-based Sofina Foods Inc. was directed by a judge Thursday to put the money toward a workplace training program after a joint submission from the Crown prosecution and the company. Justice Michele Collinson told court it needed to be a significant penalty to match the gravity of what happened, but said, 'there is no amount of money, or any sentence, that can make up for the loss of life.' 'We don't send our loved ones off to work thinking that this is the last time that we're going to see them,' she said. The decision comes a day after Sofina pleaded guilty to failing to ensure the safety of Subedi at work. The remaining 25 other workplace safety charges against the company were withdrawn. Subedi, who had a master's degree in science, had gone to check the temperature of the gas-fired smokehouse, which had been loaded the night before with meat. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. But an emergency handle inside the unit was broken. A makeshift door stopper on the outside had recently been installed, but had to be activated from the outside before entry. A co-worker found Subedi unresponsive on the floor inside the doors of the smokehouse after the temperature reading from a meat probe had soared to 92 C. Subedi later died in hospital of thermal burns and heat exposure. Collinson noted there were mitigating factors in her decision, including the company paying the mortgage for the victim's family and extending their health and dental coverage. Including other benefits, court heard Sofina spent $500,000, not accounting for taxes, to help the family. The support came before charges were laid as the result of an investigation under Alberta's workplace safety laws. This advertisement has not loaded yet, but your article continues below. Collinson said Sofina's early guilty plea also demonstrated remorse, along with its efforts to quickly resolve safety risks like the emergency door handle on the smokehouse. But, she said, the incident was easily preventable, and led to an immeasurable loss to Subedi's family, friends, and community. 'The loss has ended not just his dreams, but the dreams of his wife, and his brother who had come to Canada from Nepal in hopes of a better life.' A victim impact statement from Subedi's widow, Bhumika Bhattarai, spoke of trauma's toll on her family. Pregnant at the time of Subedi's death, now mother of a two-year-old and a three-year-old, Bhattarai said her children keep asking: 'Where is Daddy?' 'I burst into tears whenever I think of him,' she said in the statement, which was read in court by the Crown prosecutor Wednesday. This advertisement has not loaded yet, but your article continues below. An agreed statement of facts from the Crown and Sofina Foods said the company had comprehensive safety protocols but failed to follow through, including by providing proper training for operating the smokehouse door. The inside emergency handle had been repeatedly sheared off by meat carts moving in and out, but Subedi had not been properly trained on how to use the door stopper that had been installed as a backstop. Several company executives traveled from Ontario to attend court in Edmonton. The funding for workplace safety training ordered by the court is to be managed by the Alberta Food Processors Association and tailored to the sector. After Subedi's death, Sofina also installed a memorial bench in his honour at its Edmonton facility. MMA NHL Canada Toronto & GTA World
Global News
a day ago
- Global News
Sofina Foods to pay $330K after Edmonton worker trapped in hot smokehouse dies
See more sharing options Send this page to someone via email Share this item on Twitter Share this item via WhatsApp Share this item on Facebook A commercial food processing company has been ordered to pay $330,000 after one of its workers became trapped in a smokehouse and died. Ontario-based Sofina Foods Inc. was directed by a judge on Thursday to put the money toward a workplace training program. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The decision comes a day after Sofina pleaded guilty to one workplace safety violation while the remaining 25 other charges against the company were withdrawn. Sofina was charged after 32-year-old Samir Subedi died in March 2023. Court heard he had gone to check the temperature of the gas-fired smokehouse, which had been loaded the night before with meat. Due to problems with the door's safety mechanisms, Subedi became trapped in the smokehouse as the temperature soared to 92 C, and he died of heat exposure. Story continues below advertisement — More to come…
Toronto Star
a day ago
- Business
- Toronto Star
Company to pay $330K after Edmonton worker trapped in smokehouse, dies in 92 C heat
EDMONTON - A commercial food processing company has been ordered to pay $330,000 after one of its workers became trapped in a smokehouse and died. Ontario-based Sofina Foods Inc. was directed by a judge today to put the money toward a workplace training program.
Winnipeg Free Press
a day ago
- Winnipeg Free Press
Company to pay $330K after Edmonton worker trapped in smokehouse, dies in 92 C heat
EDMONTON – A commercial food processing company has been ordered to pay $330,000 after one of its workers became trapped in a smokehouse and died. Ontario-based Sofina Foods Inc. was directed by a judge today to put the money toward a workplace training program. The decision comes a day after Sofina pleaded guilty to one workplace safety violation while the remaining 25 other charges against the company were withdrawn. Sofina was charged after 32-year-old Samir Subedi died in March 2023. Court heard he had gone to check the temperature of the gas-fired smokehouse, which had been loaded the night before with meat. Due to problems with the door's safety mechanisms, Subedi became trapped in the smokehouse as the temperature soared to 92 C, and he died of heat exposure. More coming.
