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

Key Economic Events and Corporate Earnings Reports on Friday, November 7, 2025: U.S. Non-Farm Payrolls and Unemployment Rate, China's Trade Balance, as well as earnings 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 November 7. Analysts expect an earnings per share (EPS) of approximately $0.21 and revenues around $535.8 million. Investors are closely monitoring how new menu offerings and promotions attract customers, as well as the trends in same-store sales.

• Six Flags Entertainment Corp. (NYSE: FUN) – an operator of amusement parks (theme and water parks). The third-quarter report (peak summer season) will be released before the market opens on November 7; a conference call is scheduled for 8:00 EST. Analysts forecast an EPS of about $2.27 with revenues approximately at $1.34 billion. The summer season of 2025 was successful, as Six Flags previously reported an increase in attendance leading up to Labor Day and confirmed its yearly forecast, prompting investors to expect strong results. Stock volatility is possible depending on park attendance data and seasonal pass sales.

• Fluor Corporation (NYSE: FLR) – an international engineering and construction company (industrial construction sector). The third-quarter report will be published before trading opens. The consensus forecast predicts an EPS of $0.44 with revenues around $4.2 billion. Focus will be on Fluor's order portfolio and the execution of major projects amid government infrastructure initiatives. Significant stock fluctuations are possible, especially if results deviate from forecasts or due to news regarding major contracts.

• Constellation Energy Corp. (NASDAQ: CEG) – a large electricity producer (nuclear and renewable generation), part of the S&P 500. The third-quarter report will be released before the market session begins on November 7. Market participants are anticipating an EPS of about $3.06 and revenues of approximately $6.78 billion. Constellation Energy shares have risen nearly 50% year-to-date, fueled by a focus on “clean” energy and government incentives. Investors will closely watch management forecasts: high expectations are already priced into the stock, so any surprises (such as changes in profit guidance or projects in renewable energy) may lead to significant price movements.

• Duke Energy (NYSE: DUK) – one of the largest energy companies in the U.S. (electric and gas utilities, utilities sector, S&P 500). The company will report third-quarter results before the market opens; the EPS forecast is ~$1.70 with revenues around $8.5 billion. Duke is expected to show growth in electricity demand (thanks to grid upgrades and new solar capacity) amid sustained demand, despite higher interest rates increasing the company’s costs. Investors will also pay attention to comments about dividends and rates, as the utility sector is sensitive to rates, thus the volatility of Duke shares will depend on whether the forecasts hold and if the company maintains its outlook for the year.

• Franklin Resources (NYSE: BEN) – a global investment management company (Franklin Templeton brand, part of the S&P 500). It will report for the fourth quarter of the 2025 fiscal year (quarter ended September) before the market opens. Analysts forecast year-over-year declines: an EPS of about $0.56, revenues of ~$2.17 billion. A decline in profits and revenues is expected, although growth in assets under management by the end of September (to ~$1.66 trillion) may soften the negative impact. Investors will look for signs of stabilization in the report – the stock has recently lagged the market, and cautious sentiment on Wall Street remains, so any positive surprises (such as net inflows into funds) could improve the perception of the company.

• KKR & Co. Inc. (NYSE: KKR) – a leading firm in alternative investments (private equity, credit products). It will report third-quarter results before the market opens on November 7. The consensus forecast is an EPS of about $1.33 (year-over-year decline) with revenues of ~$2.14 billion. KKR’s report is anticipated with great interest: investors are looking for numbers above consensus and optimistic guidance from management. In the previous quarter, KKR exceeded the profit forecast, but shares fell ~3% the next day – highlighting the importance of guidance and management commentary. KKR shares have dropped ~22% over the year, making the market particularly sensitive to news about asset growth and deals. A strong quarter or positive guidance could trigger stock price increases, while disappointment would add pressure on shares.

• MarketAxess Holdings (NASDAQ: MKTX) – an operator of an electronic bond trading platform. The third-quarter report will be released before the NASDAQ opens on November 7. Forecast: EPS of approximately $1.85 and revenues of ~$212.6 million. Revenue stagnation is expected to match the previous year’s level (~$207 million, 0% growth) after a robust 20% rise a year earlier. This reflects weaker trading volumes in recent months – MarketAxess has fallen short of revenue forecasts five times in two years. In the fintech trading sector, some competitors (such as Moody’s and S&P Global) reported growth of ~9-11% in Q3, so MKTX investors are cautious. Shares of MarketAxess have declined ~4% in the month leading up to the report; if results disappoint or forecasts turn weak, further declines may follow. However, any signs of recovery in trading activity (such as an increase in volume on the platform in September, which the company reported) may support stock prices.

• Viasat, Inc. (NASDAQ: VSAT) – an American satellite communication provider. The report for the quarter (financial Q2 2026) will be released after the market closes on November 7. An EPS loss of approximately –$0.11 on revenues of ~$1.15 billion is anticipated. Investors’ attention is focused on the integration of the acquired Inmarsat business and the prospects of the new Viasat-3 satellite constellation. Stock volatility is anticipated, considering recent technical issues with the satellite and related expenses – the market will evaluate how these factors have impacted the company's performance and guidance.

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

(Note: In addition to the above companies, several other American companies, such as Alliant Energy (LNT), Chemours (CC), AMC Networks (AMCX), Hain Celestial (HAIN), and others, will also be reporting on November 7. However, their impact is expected to be more localized.)

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). It will present its results for Q3 2025 on November 7 morning (07:00 CET). Preliminary data suggests the company faced declining sales volumes: approximately 98,009 trucks and buses were sold in Q3, which is about 15% fewer than a year earlier. Weak demand in Europe and Asia led to the sales drop, although revenues in North America grew by about 5%. Investors will assess how the drop in shipments affected revenues and profits and whether Daimler Truck will maintain its guidance for the year. Stock fluctuations are possible given the cyclical nature of the truck market and signs of slowing economic activity.

• Amadeus IT Group, S.A. (Spain) – a leading provider of IT services for the tourism industry (airline and hotel booking systems). The company reported its Q3 2025 results on November 7. An increase in numbers was anticipated amid the recovery of global tourism in 2025. Investors are watching for growth in bookings and revenues from providing IT solutions to airlines and agencies. (Amadeus is not part of the Euro Stoxx 50 but is a significant public company in Europe.) The report will confirm whether the company managed to maintain double-digit revenue growth rates observed earlier this year, and how significantly price volatility in air travel affected its performance. Significant surprises are not anticipated, but management comments regarding travel demand in 2026 are important for investor sentiment.

• International Consolidated Airlines Group (IAG) (UK/Spain) – a holding company uniting British Airways, Iberia, and other airlines. It published financial results for Q3 2025 (traditionally a strong summer season). Analysts forecasted a net profit ranging from €0.25 to €0.30 per share for the quarter, attributed to the revival of passenger traffic. In the first half of the year, IAG showed an ~8% year-over-year revenue increase and a sharp rise in operating profit (~43%). In the Q3 report, investors were looking for confirmation of the recovery's sustainability – likely, the group continued to improve load factors and profit amid constrained seat supply and high demand for air travel. Attention is also being given to winter forecasts and cost management (especially fuel prices). Significant price movements in IAG's shares are possible if outcomes deviate substantially from consensus or if there are announcements regarding dividends.

• Arkema S.A. (France) – a major chemical company specializing in specialty chemicals and materials. The Q3 2025 report will be released on November 7. Expectations are mixed: demand for Arkema's products in Europe may remain sluggish due to industrial slowdowns, although growth in North America and Asia is likely to offset some of the decline. Analysts predicted a year-over-year decrease in revenues and profits due to high raw material and energy prices in Europe. Investors are focused on profitability – whether Arkema can pass on increased costs to consumers, as well as comments on prospects for 2026. The likelihood of significant stock movements is moderate; a restrained reaction is more probable if results align with forecasts. (Arkema is not part of the Euro Stoxx 50 but is considered a significant industrial issuer in Europe.)

*(Note: No companies directly part of the Euro Stoxx 50 published reports on November 7, 2025, as most European blue chips reported earlier in the earnings season. However, in addition to those mentioned above, several other European companies will release their reports on November 7, such as OTP Bank (the leading bank in Hungary), Cellnex Telecom (Spain, telecom tower operator), Proximus (Belgium, telecom), and others. These reports have more localized significance, but they have also attracted investors' attention within their sectors.)

Japan (Nikkei 225 Companies)

• Mitsubishi Heavy Industries (TYO: 7011) – a multifaceted industrial conglomerate (aerospace, energy systems, equipment) and a component of the Nikkei 225. It presented its financial results for Q2 of the 2025 fiscal year (April-September) on November 7. An improvement in profits was expected due to yen depreciation and increased defense orders, although revenues may have decreased due to delays in certain projects. Investors are focusing on MHI's order book, especially in the energy (gas turbines, hydrogen projects) and aviation sectors. Significant surprises were not anticipated – Japanese industrial giants typically issue conservative forecasts. Nevertheless, any news of major new contracts (such as for the supply of equipment for nuclear power plants or shipbuilding) could improve sentiment around MHI shares.

• Nomura Holdings, Inc. (TYO: 8604 / NYSE: NMR) – the largest investment banking and brokerage group in Japan, part of the Nikkei 225. According to ADR data, Nomura released its report for Q2 of the 2025 fiscal year on November 7 (before U.S. market opening). A net income of approximately $0.17 per ADR was forecasted with revenues around $3.08 billion. The quarter may have proven challenging: market volatility in September, a decline in M&A deals, and stagnation in commission income. Investors are tracking Nomura's asset management division (considering global trends in capital outflows from emerging markets) and progress in restructuring its international investment business. Nomura shares have been relatively stable in 2025, so significant movements are not expected unless the results provide unexpected news. Particular attention is on management's comments regarding growth plans and stock buyback programs.

(Note: Other Japanese companies from the Nikkei 225 generally reported results earlier in November. For example, Toyota reported on November 5, while banks MUFG/SMFG reported around November 13-14, etc. Among the prominent Japanese names on November 7, MHI was most notable. Separately, it is worth mentioning that on November 7, reports from Shinhan Financial Group (South Korea) and OCBC (Singapore) were released, though they are not related to Japan.)

Russia (MOEX Index)

• PJSC PhosAgro (MOEX: PHOR) – one of the world leaders in phosphorous fertilizer production. On November 7, it published its IFRS financial results for the first nine months of 2025. An improvement in performance was expected compared to the dismal 2024 year due to recovering fertilizer prices and increased exports. Over six months of 2025, PhosAgro's revenue grew ~23.6% year-over-year; the market anticipated this trend would continue in the first nine months. According to reviews, investors are particularly attentive to the company’s EBITDA margin and free cash flow – PhosAgro traditionally generates high cash flow, crucial for dividends. Should the actual results meet or exceed expectations, PHOR shares could continue their upward trend. Moreover, on November 7, PhosAgro’s board of directors was also set to review financial statements and potentially consider dividend matters, adding intrigue for investors.

• TGK-1 (MOEX: TGKA) – a regional energy company (electricity and heat generation in the northwest region of Russia). It also disclosed IFRS results for the first nine months of 2025 on November 7. Although TGK-1 is not considered a major blue-chip, the report from this subsidiary of Gazprom Energy Holding attracted analysts’ attention in the context of tariff dynamics and investment programs. The results did not have a significant impact on the MOEX index, but the concurrent release of reports from PhosAgro and TGK-1 became a notable event in the Russian local market.

(Note: The largest Russian issuers in the MOEX index (such as Sberbank, Gazprom, Lukoil, Novatek, and others) did not release reports on November 7. Many of them reported results for the first nine months either earlier or later in November. Therefore, on November 7, 2025, the main focus in the Russian market was on the reports from PhosAgro, and to a lesser extent, TGK-1.)

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

• Brookfield Asset Management Ltd. (NYSE: BAM) – a major Canadian investment company in alternative asset management. It will report for the third quarter of 2025 on November 7 before the market opens. Expected EPS is around $0.41 on revenues of ~$1.34 billion. Investors are focusing on growth in fee income and new capital raised for Brookfield funds. BAM shares respond weakly to quarterly earnings, but management’s comments on new investments (e.g., in infrastructure, renewables) and capital allocation plans are crucial. Analysts currently rate Brookfield positively (consensus of Outperform) but warn of possible declines in management fees compared to last year (the sale of certain assets in 2024 has created a high comparison base).

• Brookfield Infrastructure Partners L.P. (NYSE: BIP) – linked to the above Brookfield fund, owning global infrastructure assets (energy networks, ports, telecommunications). It will also present third-quarter results on November 7. Consensus forecast: FFO (funds from operations) of about $0.86 per share, with revenues of ~$2.05 billion. The focus is on the FFO figure and dividends: BIP traditionally pays high dividends, and investors expect a growth in streams from new acquisitions. Important updates will include comments on the completion of the Indian telecom tower deal and other projects. Significant surprises are not expected, but any deviations in FFO from the forecast may impact BIP's short-term price dynamics.

• Enbridge Inc. (TSX/NYSE: ENB) – a Canadian pipeline company and one of the largest operators of oil and gas pipelines in North America. The report for Q3 2025 will be published on November 7, with an EPS forecast of approximately $0.41 (CAD 0.55) and revenues of around $8.45 billion. The key intrigue lies in how high-interest rates and increased debt burdens impact Enbridge's profits, as well as progress in integrating recently acquired gas utility assets. The company has already set a yearly 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 hint of a review of the dividend policy or a freeze on payments could significantly impact prices. Otherwise, the report is likely to show stable results due to long-term tariff contracts and will not trigger strong price movements barring any surprises.

• TELUS Corp. (TSX: T, NYSE: TU) – a major Canadian telecommunications operator (cellular, internet) will publish its results for the third quarter on November 7. Analysts expect an EPS of around $0.18 (CAD 0.24) and revenues approximately at $3.77 billion. The Canadian telecom sector faced pressure in 2025 from competition and costs related to 5G, so investors are looking for signals of improvement from TELUS. Special attention is on subscriber base growth and the TELUS International segment (IT services), which previously cut its guidance and dragged down shares. If TELUS reports better than expected results or announces measures to reduce debt burdens, this could support the stock. Otherwise, there remains a risk of decline given recent dividend guidance cuts by industry peers.

• Macquarie Group Ltd. (ASX: MQG) – an Australian financial group, a significant global investment bank and infrastructure investor. It will report for the first half of its fiscal 2026 (quarter July–September) on November 7. Forecasts are cautious: market volatility may have reduced commission incomes from trading and IPOs, but the asset management and infrastructure investment divisions likely showed stable growth. Investors are watching Macquarie’s commodity trading profits – a historically strong aspect for the group, which could benefit from oil and gas price fluctuations in Q3. Plans for capital returns (share buybacks, dividends) are also important. MQG shares have displayed volatility in 2025, responding to global trends; unexpected half-year results could trigger noticeable movements both in the Australian market and in ADRs.

• Oversea-Chinese Banking Corp. (OCBC, SGX: O39) – one of the largest banks in Singapore. It published financial results for Q3 2025 on November 7. A confident increase in profits was expected, supported by rising interest margins and fees. In the previous quarter, OCBC already exceeded expectations, and investors are hoping for continued positive momentum in light of rising interest rates in the region and revitalizing economic activity in Southeast Asia. A key factor will be the size of net interest income and the level of reserves for potential losses – any signs of deteriorating credit quality may concern the market. Overall, analysts view OCBC as a fundamentally strong bank, so a moderately positive report could bolster confidence in further dividend growth and support stock prices.

• Canopy Growth Corp. (TSX: WEED, NASDAQ: CGC) – a Canadian company and a leader in the cannabis market. It will report results for Q2 of the 2026 fiscal year (July–September 2025) before the markets open on November 7. Analysts expect a reduction in losses, with an EPS forecast of around –$0.11 (negative) and revenues of ~$72 million. Market attention is focused on the company's efforts to cut costs and promote its U.S. market entry through partnerships (Canopy USA). The cannabis sector is experiencing tough times due to regulatory constraints and oversupply, so investors will evaluate cash burn and Canopy Growth’s liquidity sufficiency. If loss rates slow down and management highlights meeting key operational goals, it could trigger short-term stock price increases, which are currently trading near historical lows. Conversely, CGC shares will remain under pressure if results disappoint.