Most Important News

1. Trump Warns Iran Against Attacking US Ships;
2. Emaar EC Awards SAR 547M Project to Nesma & Partners;
3. Gas Makes SAR 38.2M Profit in Q1 2026;
4. Riyadh Cables Profit up 10% at SAR 282M in Q1 2026;

At the close of 04/05/2026, the Tadawul All Shares Index(TASI.SA) dropped by 0.91%, closing at 11090.65 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.57%, closing at 22806.97 points. 

Following an attack on the UAE's oil industry zone, U.S. stocks turned lower, pulling back from record highs. The S&P 500 index(SPX.US) and NASDAQ(IXIC.US) both fell, while the Dow Jones Industrial Average(DJI.US) posted its largest one-day drop in a month. Among notable movers, Advanced Micro Devices, Inc.(AMD.US) shares plunged over 5%, dragging the semiconductor index down from its record high. However, storage chipmakers Micron Technology, Inc.(MU.US) and Sandisk Corporation(SNDK.US) bucked the trend, rising more than 6% and nearly 6%, respectively.

Amazon.com, Inc.(AMZN.US) shares climbed 1% to hit a new record high after the company announced plans to expand its logistics services. The announcement sent transportation stocks sharply lower amid fears of Amazon disrupting the logistics industry. FedEx Corporation(FDX.US) shares tumbled more than 9%.

At the close of trading, the S&P 500 index(SPX.US) fell 0.41% to 7,200.75 points. The Dow Jones Industrial Average(DJI.US) dropped 557.37 points, or 1.13%, to 48,941.90 points, marking its largest one-day decline since March 27. Meanwhile, the NASDAQ(IXIC.US) declined 0.19%, finishing at 25,067.801 points.

Trump Warns Iran Against Attacking US Ships

President Trump warned Iran that any attack on US ships would result in severe retaliation, claiming Iran would be "blown off the face of the Earth." He noted an increase in US ammunition and military presence in the Middle East, suggesting Iran might be more willing to negotiate. Trump expressed his dislike for war, referencing a poll showing only 32% support for conflict.

Tadawul Market Cap Increases by SAR 170 Billion; Foreign Ownership at 4.65%

The Saudi Exchange (Tadawul) saw its market capitalization rise by 1.74% to SAR 9.94 trillion in the week ending April 30, up SAR 170.24 billion. Foreign investors held 4.65% of the total market cap. Saudi investors increased their holdings by SAR 166.26 billion, while GCC investors added SAR 0.93 billion. Foreign investors' holdings grew by SAR 3.05 billion during the same period.

KSA Stocks

Emaar EC Awards SAR 547M Project to Nesma & Partners

Emaar The Economic City(4220.SA) has awarded a SAR 547 million infrastructure project to Nesma & Partners for development within the Industrial Valley and Special Economic Zone at King Abdullah Economic City. The project includes Phase 1 of the King Salman Automotive Cluster, aiming to complete the infrastructure for partially developed areas. The Public Investment Fund, a major shareholder in Emaar EC, holds a 30.1% stake in Nesma & Partners. Emaar EC will announce the contract signing once finalized.

Saudi Fisheries Closes Retail Outlets in Restructuring Effort

Saudi Fisheries Co.(6050.SA) announced the closure of five retail outlets in Riyadh as part of a restructuring strategy to focus on core activities with higher returns. This move aims to reduce financial costs and strengthen the company's financial position. The company expects the decision to decrease operating losses starting in 2026 and will disclose any significant developments as per regulations.

Care Approves 30% Dividend for 2025

National Medical Care Co.(4005.SA) shareholders approved a 30% cash dividend for 2025, amounting to SAR 3 per share, during the OGM on May 4. The total dividend of SAR 134.07 million will be paid on May 17, 2026, to shareholders registered with Edaa by the second trading day after the record date. 

Mouwasat Approves 11.25% Dividend for H2 2025

Shareholders of Mouwasat Medical Services Co.(4002.SA) approved an 11.25% cash dividend for H2 2025, equating to SAR 1.125 per share, during the OGM on May 4. The dividend, totaling SAR 225 million, will be paid on May 14, 2026. Total dividends for 2025 reached SAR 425 million. The board was also authorized to distribute interim dividends for 2026. Contracts worth SAR 53 million for 2026 were approved.

Gas Makes SAR 38.2M Profit in Q1 2026

Gas Arabian Services Co.(4146.SA) posted a 12.3% rise in Q1 revenue to SAR361.4 million, driven by improved performance across all segments. Net profit grew 21.9% year-on-year to SAR38.2 million, supported by cost savings and joint venture profits. However, revenue and net profit declined 11.8% and 10.2% quarter-on-quarter, respectively, due to lower technical services revenue and joint venture results. Shareholders' equity increased 18.5% to SAR473.5 million. Auditor's report showed no issues.

Batic Makes SAR 12.3M Profit in Q1 2026

Batic Investments and Logistics Co.(4110.SA) reported a 20% increase in Q1 revenue to SAR136.8 million, driven by real estate and security sector growth. Gross profit surged 91% to SAR18.9 million. However, net profit fell 11% to SAR12.3 million due to prior non-recurring gains. Shareholders' equity rose 6.2% to SAR430.2 million. The auditor's report noted ongoing legal proceedings related to contract cancellations, with emphasis on the matter. Reclassifications were made for comparative figures.

Riyadh Cables Profit up 10% at SAR 282M in Q1 2026

Riyadh Cables Group Co.(4142.SA) reported an 11.2% rise in Q1 sales, reaching SAR2.77 billion, driven by increased sales volume. Gross profit rose slightly by 0.9% to SAR430.5 million. Net profit surged 10.1% to SAR282 million, attributed to higher sales and improved product mix. Shareholders' equity grew 21.4% to SAR3.52 billion. The company noted an unmodified auditor report, with no reclassifications or additional comments.

SMASCO Subsidiary Secures SAR 80.7M HRSD Project

Saudi Manpower Solutions Co.(1834.SA) announced its unit, Saudi Logistics Services Co. (SLSC), won a SAR 80.7M contract from the Ministry of Human Resources and Social Development. The two-year project involves operating centers to shelter absent and work-refusing domestic workers. The award was confirmed on May 4, 2026, with the contract signing set for May 20, 2026. No related parties are involved.

City Cement Q1 2026 profit Drops 41% to SAR 30.2M

City Cement Co.(3003.SA) announced a 20% drop in Q1 sales to SAR 119.9M, primarily due to reduced sales volume. Gross profit fell 36% to SAR 39M, with operational profit down 46% to SAR 25.9M. Net profit decreased 41% to SAR 30.2M, affected by Ramadan's impact on sales. Shareholders' equity dipped 3% to SAR 1.79B. Earnings per share were SAR 0.22.

MIS Logs SAR 12.1M Profit in Q1 2026

Al Moammar Information Systems Co.(7200.SA) announced a 22% drop in Q1 sales to SAR 314.9M, impacted by the early completion of a Data Centers project. Despite this, operational profit rose 9% to SAR 27.05M due to reduced expenses. Net profit fell 64% to SAR 12.14M, influenced by last year's one-time investment gain. Shareholders' equity decreased 27% to SAR 333.8M. Earnings per share were SAR 0.40.

CATRION Catering Extends Contract with Flynas for In-Flight Services

CATRION Catering Holding Co.(6004.SA) announced the extension of its contract with Flynas Co.(4264.SA) to provide inflight catering services, onboard food and beverage sales, and logistical support. The agreement, valued at SAR 197.4 million, will run from July 1, 2026, to January 31, 2028. This aligns with CATRION's strategy to strengthen airline sector partnerships, diversify revenue streams, and enhance operational efficiency. The financial impact is expected to be reflected in Q3 2026.

Cenomi Centers Reports High Pre-Leasing at Westfield Projects

Arabian Centres Co.(4321.SA) observes strong pre-leasing rates at Westfield Jeddah (96%) and Westfield Riyadh (92%), nearing completion. CEO Alison Rehill-Erguven anticipates gradual revenue and profit growth post-inauguration. Despite a Q1 profit drop to SAR 202.5 million due to higher financing costs, operating profit rose 10.3% to SAR 436.1 million. The company plans to expand its leasable area and projects EBITDA growth of 60% over three years, targeting SAR 2.4–2.5 billion in revenue by 2026.

USA Stocks

Palantir's Q1 Revenue Surges, Stock Volatile Post-Earnings

Palantir(PLTR.US) reported Q1 revenue of US$1.63 billion, an 85% increase year-on-year, beating analyst expectations of US$1.54 billion. Adjusted EPS was US$0.33, exceeding forecasts of US$0.28. However, US commercial sales were US$595 million, below expectations, while US government revenue rose to US$687 million, surpassing predictions. The company raised its annual revenue guidance to US$7.65-7.66 billion from US$7.18-7.2 billion.

Storage Stocks Surge to Record Highs Amid Market Gains

Storage stocks, including Micron Technology, Inc.(MU.US), Sandisk Corporation(SNDK.US), Seagate Technology Holdings PLC(STX.US), and Western Digital Corporation(WDC.US), reached record highs on Monday. Earlier, SK Hynix soared 12% in the Korean market, surpassing a market cap of KRW100 trillion. Besides storage giants, Amazon, Cisco Systems, Inc.(CSCO.US), Microchip Technology Incorporated(MCHP.US), and VERTIV HOLDINGS LLC(VRT.US) also hit new highs on Monday.