يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ ٱتَّقُوا۟ ٱللَّهَ وَكُونُوا۟ مَعَ ٱلصَّـٰدِقِينَ
O you who have believed, fear Allāh and be with those who are true. (Qur’an, 9:119)
Market Snapshot
▼ S&P 500 -0.70%
▼ SPUS -1.57%
▼ MSCI World Islamic -1.05%
*Market data for last week ending Friday
Highlights
Gold Prices Reach Record Highs: Gold prices have surged past $3,000 per troy ounce, hitting record highs as investors turn to gold as a safe-haven asset amid growing economic uncertainties and ongoing trade conflicts.
PepsiCo Acquires Poppi: PepsiCo (PEP) is purchasing prebiotic soda brand Poppi in a $1.95 billion deal, resulting in a net purchase price of $1.65 billion after accounting for tax benefits. The acquisition is pending regulatory approval.
Klarna Partners with Walmart: Klarna has secured an exclusive “buy now, pay later” partnership with Walmart (WMT), replacing Affirm (AFRM) just ahead of Klarna’s anticipated IPO in the U.S.
Airbnb Expands Business Model: Airbnb (ABNB) intends to invest between $200 million and $250 million in 2025 to diversify its business, targeting an additional $1 billion in revenue. The investment will cover increased marketing efforts, hiring initiatives, and the relaunch of Airbnb’s experiences platform. Further specifics have not been disclosed.
TikTok Ownership Update: The White House anticipates establishing a resolution framework regarding TikTok’s ownership by April 5, with several potential buyers already in discussion. ByteDance has not yet provided comments on the proposed terms.
Intel Announces Major Restructuring: Intel (INTC) CEO Lip-Bu Tan has unveiled plans for a significant company overhaul, prioritizing advancements in AI and manufacturing efficiency, along with a restructuring of the management team. The aim is to enhance the competitiveness of Intel Foundry against rival TSMC (TSM) and attract critical clients.
Pfizer Revamps Sales Strategy: Pfizer (PFE) has successfully revamped its sales strategy, increasing Nurtec revenues by 31% to reach $1.2 billion in 2024 and improving market penetration for Abrysvo. Key changes include enhanced marketing campaigns, better insurance support, and strategic vaccine bundling.
Volkswagen Downgraded by Moody’s: Moody’s has downgraded Volkswagen’s (VWAGY) credit rating from A3 to Baa1, citing deteriorating profit margins, weakened free cash flow, and heightened competitive pressures in the Chinese market.
OECD Lowers Global Growth Projections: The OECD has reduced its global economic growth forecasts to 3.1% in 2025 and 3.0% in 2026, highlighting concerns over trade tensions and tariffs implemented by former President Trump. U.S. GDP growth is projected at 2.2% for 2025 and 1.6% for 2026, accompanied by an increased inflation forecast of 2.8%.
Upcoming Earnings
FedEx (FDX) is set to release its Q3 fiscal 2025 earnings on Thursday, with analysts projecting GAAP EPS of $4.44, reflecting a 15% year-over-year increase. Revenue is expected to come in at $21.91 billion, remaining flat compared to last year’s $22 billion.
Nike (NKE) will also report its Q3 fiscal 2025 earnings on Thursday, with Wall Street forecasting GAAP EPS of $0.29, marking a 62% decline year-over-year. Revenue is anticipated to drop 11% to $11.01 billion, down from $12.4 billion in the previous year.
Chart of the Week
In 2024, energy drink giant Monster Beverage (MNST) repurchased $3.8 billion worth of its stock—almost six times the amount spent on buybacks in 2023.
Your Questions
How to calculate Zakat on Sukuk like SPSK?
SPSK is a sukuk and not really an Equity ETF. This is why we don’t have Zakat calculation for it. If you are a trader, then 2.5% of total value. If you are a long-term investor, then 2.5% from the payments you received. (Answered by Faraz Omar, AAOIFI Certified Shariah Advisor and Auditor)
You may ask your questions in our Community or email them to support@muslimxchange.com
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