Financial Morning Summary | Ades (2382) Quarterly Revenue Soars 63%; Maharah (1831) Q1 Net Profit Soars 46% QoQ; RKLB Soars 34% To Record High
ADES 2382.SA | 0.00 | |
Rocket Lab RKLB | 0.00 | |
MAHARAH 1831.SA | 0.00 | |
RETAL 4322.SA | 0.00 | |
A.OTHAIM MARKET 4001.SA | 0.00 |
Most Important News
- Ades Quarterly Revenue Soars 63%
- Maharah Q1 Net Profit Soars 46% QoQ
- Rocket Lab Soars 34% To Record High
At the close of May 10, the Tadawul All Shares Index(TASI.SA) up by 0.76%, closing at 11115.07 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) up by 0.04%, closing at 22644.44 points.
US stock futures edged lower early Monday, following a winning week on Wall Street, as oil prices jumped after US President Donald Trump rejected Iran’s latest proposal to end the war.
Futures tied to the Dow Jones Industrial Average(DJI.US) slid 81 points, or 0.16%. S&P 500 index(SPX.US) futures and NASDAQ-100(NDX.US) futures were both marginally lower.
Sunday’s moves come after the S&P 500 and Nasdaq Composite rallied more than 2% and 4%, respectively, last week. Both indexes recorded their sixth-straight winning weeks — a first for each since 2024.
Trump Dismisses Irans Response As Unacceptable
Iran and the United States mutually rejected peace proposals on May 10, following a ten-week conflict. Iran dismissed the American plan as a list of "excessive demands," while US President Trump labeled Tehran's counter-proposal as "totally unacceptable." This diplomatic deadlock leaves the current fragile ceasefire at risk as both nations struggle to reach a definitive resolution.
Saudi Industrial Production Index Plunges 14.1%
Saudi Arabia’s Industrial Production Index plunged 14.1% year-on-year in March, driven by a 20% contraction in oil activities. The decline reflects broader global energy market turbulence and Middle East supply disruptions highlighted by the IEA. However, non-oil activity rose 1.4% month-on-month, supported by utilities soaring 10.1% as the Kingdom advances its Vision 2030 diversification strategy.
KSA Stocks
Maharah Q1 Net Profit Soars 46% QoQ
Maharah Human Resources Co.(1831.SA) reported a 45.7% year-on-year net profit increase to 64.78 million riyals, as revenue soared 29.8% to 923 million riyals. Growth was driven by surging corporate sector demand and improved operational efficiency. Despite strong results, auditors issued a qualified conclusion because the company could not obtain financial data from its associate.
Ades Quarterly Revenue Soars 63%
Ades Holding Co.(2382.SA) reported a 21.8% year-on-year increase in Q1 2026 net profit to SAR 236.4 million, while quarterly revenue soared 62.6% to SAR 2.39 billion. This performance was primarily driven by the full-quarter contribution from the Shelf Drilling acquisition and expanded international operations. Operations within GCC countries now generate 47.4% of total group revenue.
Retal Forecasts Project Gains In 2027
Retal Urban Development co.(4322.SA) signed a SAR 3.1 billion agreement with Oman’s Ministry of Housing to develop an integrated residential community in Sultan Haitham City. The 1.3 million square meter project includes 2,000 units and mixed-use facilities to support regional expansion via an off-plan sale model. Financial impacts are anticipated starting in 2027 across the nine-year development period for this inaugural Omani venture.
Al Othaim Q1 Net Profit Plunges 30%
Abdullah Al Othaim Markets Co.(4001.SA) reported a 29.7% drop in Q1 net profit to 53.66 million riyals. This performance was impacted by a 5.8% revenue decrease and supply chain disruptions following a new ERP system implementation. Despite the decline, the board approved 54 million riyals in dividends, with payments scheduled for June 17.
USA Stocks
Investors Pivot Capital From Nvidia To AMD
Wall Street is rotating capital as NVIDIA Corporation(NVDA.US)’s dominance wanes in favor of Advanced Micro Devices, Inc.(AMD.US), Intel Corporation(INTC.US), and Micron Technology, Inc.(MU.US). Mizuho analyst Jordan Klein describes this as an AI "power transfer" triggered by the evolution from chatbots to AI Agents. This infrastructure pivot addresses global memory shortages and emerging hardware requirements for future deployments.
Cerebras IPO Orders Soar Twenty Times
Cerebras Systems Inc. expects to increase its IPO price range to between $125 and $135 per share as investor demand surges. Orders for the AI chipmaker’s stock have exceeded supply by more than 20 times ahead of its May 14 market debut. The company will finalize its price range today and announce official pricing on May 13.
OpenAI Developing Data Platform Rivals Palantir
OpenAI is developing a data connection platform to compete with Palantir(PLTR.US), while both OpenAI and Anthropic adopt its signature "forward deployed engineer" model. This strategic shift involves hiring former Palantir staff to embed engineers within client teams. Analyst Louie DiPalma notes that these moves significantly escalate competition within the enterprise AI sector.
Rocket Lab Soars 34% To Record High
Rocket Lab(RKLB.US) shares soared 34.22% to record highs while Fluence Energy, Inc. Class A(FLNC.US) soared 27.36% on Friday. Gains were driven by Rocket Lab's record launch contract and Fluence's strong earnings, which previously sparked a 39.9% gain on Thursday. These moves signal aggressive institutional accumulation and heightened confidence in both the aerospace and renewable energy storage sectors.
