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

Main Economic Events and Corporate Reports on Friday, November 7, 2025: Non-Farm Payrolls and Unemployment in the U.S., China's Trade Balance, as well as Reports from Companies including 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 3rd quarter results before the market opens on November 7. Analysts expect an earnings per share (EPS) of around $0.21 and revenue of approximately $535.8 million. Investors are closely monitoring how new menus and promotions attract customers, as well as the dynamics of comparable sales.

• Six Flags Entertainment Corp. (NYSE: FUN) – an operator of amusement parks (theme and water parks). The report for the 3rd quarter (peak summer season) will be released before the market opens on November 7; a conference call is scheduled for 8:00 AM EST. Analysts forecast an EPS of around $2.27 with revenue of approximately $1.34 billion. The summer season of 2025 has been successful – Six Flags has previously reported an increase in attendance leading up to Labor Day and confirmed its annual forecast, so investors expect strong results. Stock volatility is possible depending on data regarding park attendance and seasonal pass sales.

• Fluor Corporation (NYSE: FLR) – an international engineering and construction company (industrial construction sector). It will publish its 3rd quarter report before trading opens. The consensus forecast is for an EPS of $0.44 with revenue of approximately $4.2 billion. Focus will be on the status of Fluor’s order portfolio and the execution of major projects amid government infrastructure initiatives. Significant stock fluctuations are not ruled out, especially if results deviate from forecasts or if there is news on major contracts.

• Constellation Energy Corp. (NASDAQ: CEG) – a major electricity producer (nuclear and renewable generation), part of the S&P 500. Its 3rd quarter report will be released before the session begins on November 7. Market participants are expecting an EPS of around $3.06 and revenue of about $6.78 billion. Constellation Energy’s stock has surged nearly 50% since the beginning of the year, driven by attention to "clean" energy and government incentives. Investors will closely monitor management's forecasts: high expectations are already priced into the stock, so any surprises (for example, changes to profit forecasts or renewable energy projects) could lead to significant price movements.

• Duke Energy (NYSE: DUK) – one of the largest energy companies in the U.S. (electric and gas utilities, S&P 500). The company will release its 3rd quarter results before the market opens; the EPS forecast is ~$1.70 with revenue of around $8.5 billion. Duke is expected to show growth in electricity demand (due to grid modernization and the addition of new solar capacities) amid stable demand, despite higher interest rates that have increased the company’s costs. Investors will also pay attention to comments regarding dividends and rates – the utility sector is sensitive to rates, so Duke’s stock volatility will depend on whether the 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 the S&P 500). It will report for the 4th quarter of fiscal year 2025 (quarter ended in September) before the market opens. Analysts forecast a year-on-year decline in metrics: EPS of around $0.56 and revenue of ~$2.17 billion. A drop in profit and revenue is expected, although an increase in assets under management by the end of September (to ~$1.66 trillion) may partially mitigate the negative impact. Investors will look for signs of stabilization in the report – the stock has recently lagged behind the market, and Wall Street’s cautious sentiment remains, so any positive surprises (for instance, inflow of funds into the funds) may improve the company's perception.

• KKR & Co. Inc. (NYSE: KKR) – a leading alternative investment firm (private equity, credit products). It will publish its 3rd quarter results before trading begins on November 7. The consensus forecast is for an EPS of approximately $1.33 (year-on-year decrease) with revenue of ~$2.14 billion. KKR's report is anticipated with great interest: investors expect figures above consensus and optimistic forecasts from management. In the previous quarter, KKR exceeded the profit forecast, but the stock dropped ~3% the next day – this highlights the significance of guidance and management comments. KKR shares have declined ~22% over the year, so the market is especially sensitive to news regarding the growth of assets under management and deals. A strong quarter or positive guidance could trigger a price increase, while disappointment would amplify pressure on the stock.

• MarketAxess Holdings (NASDAQ: MKTX) – operator of an electronic bond trading platform. Its 3rd quarter report will be released before the NASDAQ opens on November 7. Forecast: EPS of around $1.85 and revenue of ~$212.6 million. Revenue stagnation at the previous year's level (~$207 million, 0% growth) is expected following a powerful 20%-increase 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 industry, some competitors (e.g., Moody’s and S&P Global) reported ~9–11% growth in Q3, therefore, MarketAxess investors are wary. Shares of MarketAxess have declined ~4% in the month leading up to the report; if results disappoint or forecasts are weak, further declines may occur. However, any signs of renewed trading activity (e.g., growth of volume on the platform in September, as the company recorded) could support the stock.

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

• Hawaiian Electric Industries (NYSE: HE) – a Hawaiian electric company that has come under scrutiny due to the wildfires in Maui. Its 3rd quarter report is scheduled for after the market closes on November 7 (analysts are expecting a loss of around –$0.20 per share). Investors will look for management comments regarding the company's potential liability for the fires and the impact of these events on its financial condition. HE shares have been volatile since August when lawsuits began; hence, any news about insurance claims, regulatory decisions, or dividends could result in sharp price movements.

(Note: In addition to the companies mentioned above, several other U.S. companies will also report on November 7, including Alliant Energy (LNT), Chemours (CC), AMC Networks (AMCX), Hain Celestial (HAIN), and others. However, their impact is 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 (separated from Daimler AG). It will present its 3rd quarter results for 2025 on the morning of November 7 (07:00 CET). Preliminary data suggests the company has faced a decline in sales volumes: approximately 98,009 trucks and buses were sold in Q3, which is ~15% less than a year earlier. Weak demand in Europe and Asia led to declining sales, although revenue in North America increased by ~5%. Investors will assess how the drop in supply has affected revenue and profit and whether Daimler Truck can maintain its annual forecast. Stock fluctuations are possible, considering 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 travel industry (airline and hotel booking systems). It will report for the 3rd quarter of 2025 on November 7. An increase in indicators was expected amid the recovery of global tourism in 2025. Investors are monitoring the growth of bookings and revenue 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 has maintained double-digit revenue growth rates observed earlier in the year and how significantly the volatility in airline ticket prices has affected its performance. Significant surprises are not anticipated, but comments regarding travel demand in 2026 will be important for investor sentiment.

• International Consolidated Airlines Group (IAG) (UK/Spain) – a holding company that includes British Airways, Iberia, and other airlines. It published its financial results for the 3rd quarter of 2025 (traditionally strong summer season). Analysts expected net profit in the range of €0.25–0.30 per share for the quarter due to a revival in passenger traffic. In the first half of the year, IAG had already reported ~+8% year-on-year revenue growth and a sharp increase in operating profit (~+43%). In the Q3 report, investors are looking for confirmation of the sustainability of the recovery – likely, the group continued to improve flight load factors and profits amid limited seat supply and high demand for air travel. Attention is also directed to forecasts for winter and cost management (especially fuel prices). Significant price movements in IAG’s shares are possible if results deviate significantly from consensus or if there are news regarding dividends.

• Arkema S.A. (France) – a large chemical company specializing in specialty chemicals and materials. The report for the 3rd quarter of 2025 will be released on November 7. 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 partially offsets this decline. Analysts forecast revenue and profit year-on-year decline amid high raw material and energy prices in Europe. Investors are focusing on profitability – whether Arkema can pass on increased costs to consumers, as well as comments on the outlook for 2026. The likelihood of substantial stock movements is moderate; a muted reaction is more likely if results are in line with forecasts. (Arkema is not part of Euro Stoxx 50, but is categorized as a significant industrial emitter in Europe.)

*(Note: None of the companies directly included in the Euro Stoxx 50 published their reports on November 7, 2025; most European blue chips reported earlier in the earnings season. However, in addition to those mentioned above, various other European companies also released reports on November 7, such as OTP Bank (leading bank in Hungary), Cellnex Telecom (Spain, telecom tower operator), Proximus (Belgium, telecom), etc. These reports hold more localized significance, but have also drawn investor attention in their sectors.)

Japan (Nikkei 225 Companies)

• Mitsubishi Heavy Industries (TYO: 7011) – a diversified industrial conglomerate (aerospace, power systems, equipment) and component of the Nikkei 225. It presented its financial results for the 2nd quarter of the 2025 fiscal year (April-September) on November 7. An improvement in profit was anticipated due to the weakening of the yen and growth in defense orders, although revenue could decline due to delays in some projects. Investors pay attention to MHI’s order portfolio, especially in the energy segment (gas turbines, hydrogen projects) and aviation. Significant surprises are not anticipated – Japanese industrial giants typically provide conservative forecasts. However, any news of major new contracts (for example, for the supply of equipment for nuclear power plants or shipbuilding) could improve sentiment regarding MHI shares.

• Nomura Holdings, Inc. (TYO: 8604 / NYSE: NMR) – Japan's largest investment banking and brokerage group, component of the Nikkei 225. According to ADR, Nomura presented its report for the 2nd quarter of the 2025 fiscal year on November 7 (before the U.S. market opens). A net profit equivalent to $0.17 per ADR with revenue of about $3.08 billion was projected. The quarter could turn out to be challenging: market volatility in September, decline in M&A transactions, and stagnation in commission income. Investors are monitoring Nomura's asset management division (given global trends of capital outflows from emerging markets) and the progress of restructuring its international investment business. Nomura shares have been relatively stable in 2025, so strong movements are not expected unless results surprise. Special attention is also directed towards management comments regarding growth plans and stock buyback programs.

(Note: Other Japanese companies from the Nikkei 225 generally published their results earlier in November. For instance, Toyota reported on November 5, and banks MUFG/SMFG around November 13-14, etc. On November 7, Mitsubishi Heavy Industries stands out among the largest Japanese names. Additionally, it is worth noting that reports from Shinhan Financial Group (South Korea) and OCBC (Singapore) were released in Asia on November 7, although they are not related to Japan.)

Russia (MOEX Index)

• PJSC PhosAgro (MOEX: PHOR) – one of the world's leaders in the production of phosphate fertilizers. On November 7, it published its financial results according to IFRS for the 9 months of 2025. An improvement in metrics was expected compared to the poor 2024, driven by recovering fertilizer prices and export growth. Over the first 6 months of 2025, PhosAgro's revenue increased by ~+23.6% year-on-year; the market expected this trend to continue for the first 9 months. According to reviews, investors are particularly focused on EBITDA margin and the company's free cash flow – PhosAgro typically generates significant cash flow, which is important for dividends. If actual results align with or exceed expectations, PHOR shares may continue their upward trend. Notably, the PhosAgro board of directors reviewed the financial statements and potentially discussed dividends on November 7, adding intrigue for investors.

• TGK-1 (MOEX: TGKA) – a regional energy company (electricity and heat generation in the northwestern region of Russia). It also disclosed its IFRS report for the 9 months of 2025 on November 7. Although TGK-1 is not among the large blue chips, the reporting of this subsidiary of Gazprom Energy Holding attracted analysts’ attention in the context of tariff dynamics and investment programs. The results of TGK-1 did not significantly impact the MOEX index, but the simultaneous release of reports from PhosAgro and TGK-1 was a notable event in the local Russian market.

(Note: The largest Russian issuers in the MOEX index (such as Sberbank, Gazprom, Lukoil, Novatek, etc.) did not publish reports on November 7. Many of them presented results for 9 months either earlier or later in November. Thus, on November 7, 2025, the main highlights on the Russian market were primarily the reports from PhosAgro and to a lesser extent TGK-1.)

Other Significant International Companies (Canada, Asia, and More)

• Brookfield Asset Management Ltd. (NYSE: BAM) – a major Canadian investment company in the alternative asset management sector. It will report for the 3rd quarter of 2025 on November 7 before the market opens. Expected EPS is around $0.41 with revenue of ~$1.34 billion. Investors are focused on the growth of fee income and attracting new capital into Brookfield’s funds. BAM shares respond sluggishly to quarterly profits; however, comments regarding new investments (for instance, in infrastructure, renewables) and capital distribution plans are crucial. Analysts are currently evaluating Brookfield positively (consensus rating Outperform) but warn of possible revenue declines from management fees compared to the previous year (the sale of some assets in 2024 resulted in a record basis for comparison).

• Brookfield Infrastructure Partners L.P. (NYSE: BIP) – associated with the aforementioned Brookfield fund, owning global infrastructure assets (energy networks, ports, telecommunications). It will also present its results for the 3rd quarter on November 7. Consensus forecast: FFO (funds from operations) of about $0.86 per share, revenue ~$2.05 billion. Focus is on FFO and dividends: BIP traditionally pays high dividends, and investors expect flows to grow through new acquisitions. Comments on the completion of the deal for Indian telecom towers and other projects are important. Significant surprises are not expected, but any deviations in FFO from the forecast could affect the short-term dynamics of BIP shares.

• Enbridge Inc. (TSX/NYSE: ENB) – a Canadian pipeline company, one of the largest operators of oil and gas pipelines in North America. It will publish its 3rd quarter results on November 7; EPS forecast is approximately $0.41 (CAD 0.55) with revenue around $8.45 billion. Key intrigue revolves around how high interest rates and increased debt burdens affect Enbridge's profit, as well as the progress in integrating the recently acquired gas utility assets. The company has already laid out an annual EPS forecast of $3.17–3.42, and investors expect to confirm this range. Enbridge's shares are sensitive to news regarding dividends: the current yield is high (~8%), and any hint of a revision to dividend policy or a freeze on payments could significantly impact stock prices. Otherwise, the report is likely to show stable results due to long-term tariff contracts, and strong price movements would not be expected unless there are surprises.

• TELUS Corp. (TSX: T, NYSE: TU) – a major Canadian telecommunications operator (mobile, internet), will report results for the 3rd quarter on November 7. Analysts expect an EPS of around $0.18 (CAD 0.24) and revenue of approximately $3.77 billion. The Canadian telecom sector has faced pressure in 2025 due to competition and costs related to 5G, so investors are looking for signals of improvement from TELUS. Special attention is directed to subscriber base growth and the TELUS International segment (IT services), which previously lowered forecasts and caused a stock crash. If TELUS reports better than expected results or announces measures to reduce debt burden, this could support the stock. Otherwise, the risk of declines remains, considering the recent downgrade in dividend forecasts by an industry competitor.

• Macquarie Group Ltd. (ASX: MQG) – an Australian financial group, a major global investment bank and infrastructure investor. It will report for the first half of fiscal 2026 (quarter July–September) on November 7. Forecasts are cautious: market volatility may have reduced commission income from trading and IPOs, but the asset management division and infrastructure investments likely showed stable growth. Investors are watching Macquarie's earnings from commodity trading – a historically strong area for the group that may have benefited from fluctuations in oil and gas prices in Q3. Capital return plans (share buyback, dividends) are also important. MQG shares have demonstrated volatility in 2025, reacting to global trends; unexpected half-year results could lead to noticeable movement in both the Australian market and ADRs.

• Oversea-Chinese Banking Corp. (OCBC, SGX: O39) – one of the largest banks in Singapore. It published its financial results for the 3rd quarter of 2025 on November 7. A confident increase in profits was anticipated, supported by growth in interest margins and fee income. In the previous quarter, OCBC already exceeded the forecast, and investors hope for continued positive dynamics, considering the elevated interest rates in the region and a revival of economic activity in Southeast Asia. A key factor will be the size of net interest income and the volume of reserves for potential losses – any signs of deteriorating credit quality could alarm the market. However, analysts consider OCBC fundamentally strong, so a moderately positive report could strengthen confidence in further dividend growth and support stock prices.

• Canopy Growth Corp. (TSX: WEED, NASDAQ: CGC) – a Canadian company, one of the pioneers and leaders in the cannabis market. It will announce results for the 2nd quarter of fiscal 2026 (July–September 2025) before the market opens on November 7. Analysts expect reduced losses: the EPS forecast is around –$0.11 (negative) with revenue of ~$72 million. Market attention is focused on the company’s efforts to cut costs and penetrate the U.S. market through partnerships (Canopy USA). The cannabis sector is facing difficult times due to regulatory constraints and oversupply, so investors will assess the cash burn and liquidity sufficiency of Canopy Growth. If the loss rate slows and management states that key operational goals are achieved, this could trigger a short-term uptick in shares, which are trading near historical lows. Otherwise, CGC shares may remain under pressure.