Economic Events and Corporate Reports — Friday, 7 November 2025: US Non-Farm Payrolls, China's Trade Balance, and Reports from Constellation, Wendy’s, Six Flags

Key Economic Events and Corporate Reports for Friday, 7 November 2025: Non-Farm Payrolls and Unemployment in the US, China's Trade Balance, as well as Reports from Constellation Energy, Wendy’s, Six Flags, Fluor, Brookfield, PhosAgro and others.

• The Wendy’s Company (Nasdaq: WEN) – a major fast-food restaurant chain. The company will announce its third-quarter results before the market opens on 7 November. Analysts expect earnings per share (EPS) of around $0.21 and a revenue of approximately $535.8 million. Investors are keen to observe how new menu items and promotions attract customers, as well as the trends in comparable sales.

• Six Flags Entertainment Corp. (NYSE: FUN) – an operator of amusement parks (both theme and water parks). The third-quarter report (peak summer season) will be released before the market opens on 7 November; a conference call is scheduled for 8:00 EST. Analyst forecasts suggest EPS of around $2.27 and revenue of approximately $1.34 billion. The summer season of 2025 was successful, with Six Flags previously reporting a rise in attendance leading up to Labor Day and confirming its annual forecast, hence investors are anticipating strong results. Stock volatility is likely depending on park attendance figures and seasonal pass sales.

• Fluor Corporation (NYSE: FLR) – an international engineering and construction firm (industrial construction sector). The third-quarter report will be published before market open. The consensus forecast expects EPS of $0.44 with revenue around $4.2 billion. The focus will be on the status of Fluor's order book and the execution of large projects amid government infrastructure initiatives. Significant fluctuations in stock prices cannot be ruled out, especially if results deviate from forecasts or if there are updates on major contracts.

• Constellation Energy Corp. (NASDAQ: CEG) – a leading electricity generation company (nuclear and renewable generation), listed on the S&P 500. The third-quarter report will be released before the session starts on 7 November. Market participants anticipate EPS of around $3.06 and revenue of approximately $6.78 billion. Constellation Energy's shares have increased nearly 50% year-to-date, driven by interest in 'clean' energy and government incentives. Investors will be closely watching management's forecasts: high expectations are already priced into the shares, so any surprises (for instance, changes in profit guidance or projects in renewable energy) could lead to substantial stock movements.

• Duke Energy (NYSE: DUK) – one of the largest energy companies in the US (electric and gas utilities, utilities sector, S&P 500). The third-quarter results will be published before the market opens; the EPS forecast stands at around $1.70 with revenue of approximately $8.5 billion. Duke is expected to show increased demand for electricity (due to network upgrades and the introduction of new solar capacity) amid stable demand, despite rising interest rates which have elevated the company's costs. Investors will also scrutinise comments regarding dividends and tariffs – the utility sector is sensitive to rates, hence stock volatility for Duke will depend on whether forecasts hold true and whether the company maintains its annual guidance.

• Franklin Resources (NYSE: BEN) – a global asset management company (Franklin Templeton brand, part of S&P 500). The company will report for the fourth quarter of the 2025 fiscal year (quarter ended September) before market opening. Analysts anticipate a year-on-year decline in metrics: EPS of approximately $0.56 and revenue of around $2.17 billion. A decrease in both profit and revenue is expected, although an increase in assets under management by the end of September (to approximately $1.66 trillion) may mitigate negative impact. Investors will look for signs of stabilisation in the report – the stock has recently lagged behind the market, and cautious sentiments on Wall Street remain, so any positive surprises (for instance, inflows into funds) could enhance the company's perception.

• KKR & Co. Inc. (NYSE: KKR) – a leading alternative investment firm (private equity, credit products). KKR will release its third-quarter results before trading begins on 7 November. The consensus forecast expects EPS of around $1.33 (a year-on-year decline) with revenue of approximately $2.14 billion. The KKR report is anticipated with great interest: investors are hoping for numbers exceeding consensus and optimistic guidance from management. In the previous quarter, KKR surpassed profit expectations, but shares fell by approximately 3% the following day – this highlights the importance of forecasts and management commentary. KKR shares have declined by about 22% over the year, so the market is particularly sensitive to news regarding asset growth and deals. A strong quarter or positive guidance could trigger a rise in stock prices, while disappointment could place further pressure on shares.

• MarketAxess Holdings (NASDAQ: MKTX) – an operator of an electronic bond trading platform. The third-quarter report will be released before NASDAQ opens on 7 November. Forecasts suggest EPS of around $1.85 and revenue of approximately $212.6 million. Revenue is expected to stagnate at last year's levels (~$207 million, 0% growth) following a robust 20% rise a year earlier. This reflects weaker trading volumes in recent months – MarketAxess has missed revenue forecasts five times in two years. In the fintech trading sector, some competitors (for instance, Moody’s and S&P Global) have posted growth of approximately 9–11% in Q3, hence MKTX investors are on alert. Shares of MarketAxess have dropped around 4% in the month leading up to the report; if results disappoint or forecasts are weak, further declines are conceivable. However, any signs of recovery in trading activity (for instance, a rise in volumes on the platform in September, which the company recorded) could support the stock prices.

• Viasat, Inc. (NASDAQ: VSAT) – an American satellite communications provider. The report for the quarter (financial Q2 2026) will be published after the market closes on 7 November. A loss of around –$0.11 EPS is anticipated on revenue of approximately $1.15 billion. Investors are focusing on the integration of the acquired Inmarsat business and the prospects of the new Viasat-3 satellite constellation. Stock volatility is expected, given recent technical issues with satellites and related costs – the market will evaluate how these factors have impacted the company's performance and forecasts.

• Hawaiian Electric Industries (NYSE: HE) – a Hawaiian electric utility company that has been in the spotlight due to wildfires in Maui. The third-quarter report is scheduled for release after market close on 7 November (analysts are expecting a loss of around –$0.20 per share). Investors will be looking for management's comments regarding the potential liability of the company for the fires and the impact of these events on its financial standing. HE shares have been volatile since August, when lawsuits commenced; therefore, any news regarding insurance payouts, regulatory decisions, or dividends could trigger sharp price movements.

(Note: Apart from the companies mentioned above, several other US firms are also reporting on 7 November – for example, Alliant Energy (LNT), Chemours (CC), AMC Networks (AMCX), Hain Celestial (HAIN), among others. However, their impact is more regional.)

Europe (Euro Stoxx 50 and other major European companies)

• Daimler Truck Holding AG (Germany) – one of the world's largest manufacturers of trucks and buses (spun off from Daimler AG). The results for Q3 2025 will be presented on the morning of 7 November (07:00 CET). Preliminary data indicates a decline in sales volumes: approximately 98,009 trucks and buses sold in Q3, which is about 15% lower than the previous year. Weak demand in Europe and Asia led to a drop in sales, although revenue in North America rose by around 5%. Investors will assess the impact of the supply slump on revenue and profit, and whether Daimler Truck can maintain its annual forecast. Stock fluctuations are possible, considering the cyclicality of the commercial vehicle market and signs of slowing economic activity.

• Amadeus IT Group, S.A. (Spain) – a leading provider of IT services for the travel sector (airline and hotel booking systems). The company reported its Q3 2025 results on 7 November. An increase in metrics was expected amid a recovery in global tourism in 2025. Investors are monitoring the growth of bookings and revenue from IT solutions provided to airlines and agencies. (Amadeus is not part of Euro Stoxx 50 but is a significant public company in Europe.) The report will confirm whether the company has managed to maintain double-digit revenue growth observed earlier in the year and how significantly volatility in airline ticket prices has affected results. Major surprises are not anticipated, but commentary regarding travel demand in 2026 is important for investor sentiment.

• International Consolidated Airlines Group (IAG) (UK/Spain) – a holding company that includes British Airways, Iberia, and several other airlines. The financial results for Q3 2025 (traditionally a strong summer season) have been released. Analysts had expected net profit of around €0.25–0.30 per share for the quarter, driven by a resurgence in passenger transport. In the first half of the year, IAG already showed revenue growth of approximately +8% YoY and a sharp increase in operating profit of approximately +43%. In the Q3 report, investors sought confirmation of the sustainability of the recovery – likely, the group continued to improve flight load factors and profitability amid limited seat supply and high demand for air travel. Attention is also directed to winter forecasts and cost management (especially fuel prices). Significant price movements in IAG shares are possible if results deviate significantly from consensus or if news regarding dividends surfaces.

• Arkema S.A. (France) – a large chemical company specializing in specialty chemicals and materials. The Q3 2025 report will be released on 7 November. Expectations are mixed: demand for Arkema's products in Europe may have remained sluggish due to an industrial slowdown, but growth in North America and Asia could partially offset the decline. Analysts forecast a decrease in revenue and profit YoY amid high raw material and energy costs in Europe. Investors are focusing on profitability – whether Arkema can pass on increased costs to consumers, as well as commentary regarding prospects for 2026. The probability of significant stock movements is moderate; a more measured reaction is likely if results fall within the forecast range. (Arkema is not part of Euro Stoxx 50, but it is a significant industrial issuer in Europe.)

*(Note: None of the companies directly included in the Euro Stoxx 50 announced results specifically on 7 November 2025 – most European blue-chip firms reported earlier in the earnings season. Nevertheless, besides those mentioned above, reports were also released by several other European companies, including OTP Bank (leading bank of Hungary), Cellnex Telecom (Spain, telecom tower operator), Proximus (Belgium, telecom), among others. These reports have more local significance, but they also attracted investor attention in their respective sectors.)

Japan (Nikkei 225 Companies)

• Mitsubishi Heavy Industries (TYO: 7011) – a diversified industrial conglomerate (aerospace, energy systems, equipment) and a component of the Nikkei 225 index. The financial results for the second quarter of the 2025 fiscal year (April–September) were presented on 7 November. An improvement in profit was anticipated due to a weaker yen and increased defence orders, although revenue could have declined due to project delays. Investors are paying attention to MHI’s order book, especially in the energy segment (gas turbines, hydrogen projects) and aviation. No substantial surprises were forecasted – Japanese industrial giants typically provide conservative guidance. However, any news regarding large new contracts (for instance, equipment supply for nuclear power plants or shipbuilding) could enhance sentiment towards MHI shares.

• Nomura Holdings, Inc. (TYO: 8604 / NYSE: NMR) – Japan's largest investment banking and brokerage group, a constituent of the Nikkei 225. According to ADR data, Nomura reported for the second quarter of the 2025 fiscal year on 7 November (before US market opening). A net profit equivalent to $0.17 per ADR with revenue of around $3.08 billion was projected. The quarter may have been challenging: market volatility in September, a decline in M&A activity, and stagnation in commission income. Investors are monitoring Nomura's asset management division (considering global outflows from emerging markets) and progress in restructuring its international investment business. Nomura's shares have been relatively stable in 2025, so significant movements are not anticipated unless results deliver a surprise. Particular attention will be paid to management comments regarding growth plans and the share buyback programme.

(Note: Other Japanese companies in the Nikkei 225 generally reported results earlier in November. For instance, Toyota reported on 5 November, banks MUFG/SMFG are set to report around 13–14 November, etc. On 7 November, the most prominent Japanese name is MHI. It is also worth noting that reports were released by Shinhan Financial Group (South Korea) and OCBC (Singapore) on 7 November, although they are not related to Japan.)

Russia (Moscow Exchange Index)

• PAO PhosAgro (MOEX: PHOR) – one of the world's leaders in phosphorus fertilizer production. On 7 November, the company released its IFRS financial results for the first nine months of 2025. An improvement in metrics was expected compared to the disappointing year of 2024, thanks to a recovery in fertilizer prices and an increase in exports. For the first six months of 2025, PhosAgro’s revenue grew by approximately +23.6% YoY; the market anticipated that this trend would continue over the first nine months. According to reviews, investors are particularly focused on EBITDA margin and free cash flow – PhosAgro traditionally generates high cash flow, which is important for dividends. If actual results meet or exceed expectations, PHOR shares could maintain their upward trend. Additionally, the PhosAgro board of directors was exactly reviewing the financial statements and possibly discussing dividends on 7 November, adding intrigue for investors.

• TGK-1 (MOEX: TGKA) – a regional energy company (electricity and heat generation in the north-western region of the Russian Federation). The company also disclosed IFRS results for the first nine months of 2025 on 7 November. Although TGK-1 is not among the major blue-chip stocks, the report of this subsidiary of Gazprom Energy Holding attracted analysts' attention in the context of tariff dynamics and investment programmes. The results did not have a significant impact on the Moscow Exchange index, but the simultaneous reporting of PhosAgro and TGK-1 became a notable event in the local Russian market.

(Note: Major Russian issuers of the Moscow Exchange index (such as Sberbank, Gazprom, Lukoil, Novatek, etc.) did not publish reports on 7 November. Many of them presented results for the first nine months either earlier or later in November. Hence, on 7 November 2025, the main reports on the Russian market were indeed those of PhosAgro and, to a lesser extent, TGK-1.)

Other Notable International Companies (Canada, Asia, etc.)

• Brookfield Asset Management Ltd. (NYSE: BAM) – a large Canadian investment company focused on alternative asset management. The company will report for Q3 2025 on 7 November before the market opens. Expected EPS is around $0.41 with revenue of approximately $1.34 billion. Investors are focusing on the growth of fee income and attracting new capital to Brookfield's funds. BAM shares tend to respond weakly to quarterly earnings; however, comments on new investments (such as in infrastructure and renewable energy) and capital allocation plans are important. Analysts currently assess Brookfield positively (consensus is Outperform), but caution about potential declines in management fees compared to last year (sale of some assets in 2024 led to a record base for comparison).

• Brookfield Infrastructure Partners L.P. (NYSE: BIP) – linked to the aforementioned Brookfield fund, which owns global infrastructure assets (power grids, ports, telecommunications). The results will also be presented on 7 November. Consensus forecast: Funds from Operations (FFO) of approximately $0.86 per unit, with revenue of around $2.05 billion. Focus will be on the FFO and dividends: BIP traditionally pays high dividends, and investors are expecting growth in flows through new acquisitions. Commentary on the closing of the deal regarding Indian telecom towers and other projects is important. Major surprises are not anticipated, but any deviations in FFO from forecasts could impact the short-term stock dynamics of BIP.

• Enbridge Inc. (TSX/NYSE: ENB) – a Canadian pipeline company and one of the largest operators of oil and gas pipelines in North America. The Q3 2025 report will be published on 7 November; the EPS forecast is approximately $0.41 (CAD 0.55) with revenue around $8.45 billion. A key point of interest is how high interest rates and increased debt loads affect Enbridge’s profits, as well as progress in integrating newly acquired gas utility assets. The company has already set an annual EPS forecast of $3.17–3.42, and investors expect confirmation of this range. Enbridge shares are sensitive to dividend news: the current yield is high (~8%), and any hints of a revision of dividend policy or suspending payments could significantly impact share prices. Otherwise, the report is likely to show stable results due to long-term tariff contracts, and strong price movements are unlikely in the absence of surprises.

• TELUS Corp. (TSX: T, NYSE: TU) – a large Canadian telecommunications operator (mobile, internet), reporting results for Q3 on 7 November. Analysts are expecting EPS of around $0.18 (CAD 0.24) and revenue of approximately $3.77 billion. The Canadian telecom sector faced pressure in 2025 due to competition and costs related to 5G, so investors are waiting for signals of improvement from TELUS. Particular attention is paid to subscriber base growth and the TELUS International segment (IT services), which had previously reduced its forecast, leading to a plunge in shares. Should TELUS report better than expected results or announce measures to reduce debt loads, this could support the shares. Otherwise, there remains a risk of declines, given a recent downward revision of dividend forecasts by a sector competitor.

• Macquarie Group Ltd. (ASX: MQG) – an Australian financial group, a major global investment bank and infrastructure investor. The company will report for the first half of the 2026 fiscal year (quarter July–September) on 7 November. Cautious forecasts suggest that volatility in markets could reduce trading and IPO commission income, but the asset management and infrastructure investment divisions likely exhibited stable growth. Investors are looking at Macquarie’s profits from commodity trading – an historically strong area for the group, which may have benefited from price fluctuations in oil and gas in Q3. Plans for capital returns (share buybacks, dividends) are also significant. MQG shares have shown volatility in 2025, responding to global trends; unexpected half-year results could lead to noticeable movement both in the Australian market and in ADR.

• Oversea-Chinese Banking Corp. (OCBC, SGX: O39) – one of Singapore's largest banks. The financial results for Q3 2025 were published on 7 November. A solid profit increase was expected, driven by an increase in interest margin and fee-based income. In the previous quarter, OCBC already surpassed forecasts, and investors are hoping for continued positive dynamics, considering the elevated interest rates in the region and a resurgence of economic activity in Southeast Asia. A key factor will be the amount of net interest income and the volume of reserves for potential losses – any signs of declining credit quality could alarm the market. However, overall analysts consider OCBC a fundamentally strong bank, so a moderately positive report could bolster confidence in ongoing dividend growth and support the shares.

• Canopy Growth Corp. (TSX: WEED, NASDAQ: CGC) – a Canadian company and one of the pioneers and leaders in the cannabis market. It will release results for Q2 of the 2026 fiscal year (July–September 2025) before markets open on 7 November. Analysts expect a reduction in losses: a forecast EPS of around –$0.11 (negative) on revenue of approximately $72 million. Market attention is focused on the company’s cost-cutting efforts and entrance into the US market through partnerships (Canopy USA). The cannabis sector is experiencing challenging times due to regulatory restrictions and oversupply, so investors will assess cash burn rates and liquidity sufficiency at Canopy Growth. If loss rates slow and management states critical operational goals are being met, this could lead to short-term stock appreciation, which is trading around historical lows. Otherwise, CGC shares will remain under pressure.