Most Important News

• PIF's Q4 2024 Ownership of US Equities Revealed
• TANMIAH Profit Rises 26% to SAR 95.8M in 2024
• SULAIMAN ALHABIB Plans SAR 1.23 Dividend Per Share for Q4

1. Market Summary

Saudi Arabia's Tadawul All Shares Index(TASI.SA) was down by 0.01% on last Thursday, hit by a 0.68% fall in Saudi Telecom Co.(7010.SA)  and a 0.28% decrease in biggest lender The Saudi National Bank(1180.SA) .

The S&P 500 was little changed on Friday in a pause from a strong performance this week, as investors weighed the latest on the global trade and inflation fronts. The Dow Jones Industrial Average(DJI.US)  shed 165.35 points, or 0.37%, closing at 44,546.08. The S&P 500 INDEX(SPX.US)  ticked down 0.01% to 6,114.63, and the NASDAQ(IXIC.US)  added 0.41% to close at 20,026.77.

2. Quick News

PIF's Q4 2024 Ownership of US Equities: Overview and Adjustments

According to a US Securities and Exchange Commission (SEC) filing, the Public Investment Fund (PIF) slightly increased its ownership in US equities from $26.7 billion in Q3 2024 to $26.8 billion in Q4 2024. The Kingdom's sovereign wealth fund only lowered its holdings in Visa Inc. and cut its ownership in the options contracts of six companies. Meanwhile, it increased its equities in Lucid, Amazon, ERMENEGILDO ZEGNA, and NU Holdings, as well as the options contracts of one company. The fund exited its investments in Walmart and nine options contracts, and invested in one new company, DoorDash, as well as 18 new options contracts.

Gold Prices Decline, Yet Sustain Seventh Consecutive Weekly Gain

Gold prices turned lower on Friday amid profit taking, but recorded a weekly gain for the seventh straight week. Gold futures for April delivery declined 1.5%, or $44.7, to $2,900.7 per ounce, recording a weekly gain of 0.45%.

3. Stocks To Watch

KSA Stocks

TANMIAH Profit Rises 26% to SAR 95.8M in 2024; Q4 at SAR 26.8M

Tanmiah Food Co(2281.SA)  reported a net profit of SAR 95.8 million for 2024, an increase of 26% from SAR 75.9 million in the year earlier period. Revenue increased 22.5% in 2024 to SAR 2,563.5 million, supported by continued expansion of fresh poultry capacity, increased sales volumes of fresh poultry, broader geographical coverage, focused marketing, and channel expansion. Q4 2024 net profit added 2% to SAR 26.8 million, and an 18.9% increase in revenues to SAR 684.9 million in Q4 2024.

CARE Signs SAR 91.76M Contract with Constraction Land for Contracting Co.

On February 13, National Medical Care Co.(4005.SA)  entered into a 12-month contract with Constraction Land for Contracting Co. with a total value of SAR 91.76 million. In a statement to Tadawul, Care indicated that the contract is intended to carry out the structural framework for the first phase of the new Care Medical Hospital in the Al - Nargis neighborhood in Riyadh, which will have a capacity of 200 beds.

SULAIMAN ALHABIB to Distribute Dividends for Q4 2024

Dr. Sulaiman Al Habib Medical Services Group(4013.SA)  announced a cash dividend distribution for Q4 2024. The company's board approved the payout on February 15, 2025. A total of SAR 430.50 million will be distributed among 350 million eligible shares, equating to a dividend of SAR 1.23 per share. In 2024, its revenue reached SAR11,200.43 million, up 17.79% from SAR9,508.44 million in the previous year. Net profit rose 13.16% to SAR2,315.29 million from SAR2,046.01 million. 

ARDCO Completes Acquisition of 2 Properties from Remat Al-Riyadh

Arriyadh Development Co.(4150.SA)  announced the completion of transferring the ownership of two real estate assets from Remat Al-Riyadh Development Co. to the company, depositing the new shares in favor of Remat Al-Riyadh and listing the new shares on the Saudi Exchange (Tadawul) on Feb. 13, 2025.

SASCO Updates on Court Ruling Against Ministry of Housing

Saudi Automotive Services Co.(4050.SA)  has announced the latest developments regarding a court ruling obligating the Ministry of Housing to pay 8,217,461 SAR for the fair rent of a portion of SASCO’s land on Hafar Al-Batin Road. Initially, SASCO received a favorable ruling in February 2025. However, after the Ministry of Housing appealed, the appellate court overturned the ruling and dismissed the lawsuit.

USA Stocks

Cathie Wood's Ark Invest Loads Up On Iridium, Twist Bioscience, Offloads Roku

On Friday, Ark Invest led by Cathie Wood made significant trades involving stocks including Iridium Communications Inc.(IRDM.US) , Twist Bioscience(TWST.US) , PagerDuty Inc (NYSE:PD), Beam Therapeutics Inc (NASDAQ:BEAM), Roku Inc (NASDAQ:ROKU), and Ibotta Inc (NASDAQ:IBTA).

OpenAI Board Declines $97.4 Billion Acquisition Bid from Musk

The board of OpenAI, a leading artificial intelligence company, has rejected a $97.4 billion acquisition offer from Elon Musk and his investors, according to a report by the Wall Street Journal. The decision was communicated to Musk's legal representatives in a letter, stating that the offer was not in the best interests of OpenAI's mission.

Trump Administration 'Unlikely' To Support TSMC's Control Of Intel's US Chip Factories: Report

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) , the world's largest chipmaker, is reportedly considering acquiring a controlling stake in Intel's US factories at the request of former President Donald Trump, according to Bloomberg. However, a White House official has told Reuters that while the Trump administration welcomes foreign investment in the US, it is "unlikely" to support a foreign company running Intel's factories.

4. Saudi Stock Calendar