The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
1035 ET - Estee Lauder's potential acquisition of Puig would give the U.S. beauty giant greater strength to compete with its French rival L'Oreal, Bernstein analysts say in a note. No final decision on a deal has been made, and no agreement has been reached, the parties said late Monday. The Wall Street Journal reported that Estee Lauder was in talks to buy the Spanish beauty and fashion group for a combination of cash and stock. "A takeover of Puig would give Estee Lauder well-known perfume and fashion brands such as Rabanne, Jean Paul Gaultier and Carolina Herrera, helping it compete better against L'Oreal," Bernstein says. (andrea.figueras@wsj.com)
1021 ET - U.S. home prices were little changed from a month earlier in February, Redfin says, rising 0.1% on a seasonally adjusted basis. That's the slowest growth in seven months. Prices increased 1.9% year-over-year. Price growth is muted because it's the strongest buyer's market in recent history--for those who can afford to buy. There are a record 46% more home sellers than buyers, meaning the buyers who are in the market have negotiating power when it comes to price. Prices are still rising slightly, but this growth pales in comparison to recent years. Mortgage rates have ticked up in the past few weeks following months of declines, but Redfin still expects housing affordability to improve this year as income growth outpaces home price growth. (chris.wack@wsj.com)
1015 ET - Ares Management limited withdrawals from its $22.5 billion Ares Strategic Income Fund after receiving redemption requests totaling 11.6% of the shares outstanding at the end of January, joining the expanding ranks of debt-fund managers that have barred investors from pulling out as much cash as they'd like. Investors will have another opportunity to request withdrawals in the coming quarter, the business development company says in a securities filing Tuesday. Ares, which formed the BDC about four years ago, said the 5% redemption would take $524.5 million from the BDC's coffers, noting that it has about $5 billion in undrawn liquidity. Ares said most of the withdrawal requests came from a small number of family offices and institutional investors. In a separate filing, the BDC said about 22% of its assets are tied to software and services companies. (ted.bunker@wsj.com)
1014 ET - Fertilizer prices will remain elevated over the long term because of damage to infrastructure in the Middle East, Jefferies analysts write. Constraints to the export of ammonia caused by the effective closure of the Strait of Hormuz will push prices higher, the analysts say. Since February, contract prices have risen for ammonia and potash by 6% and 2%, respectively. Ammonia supply will be further reduced after Yara International paused production at its Pilbara plant in Australia, the analysts say. European fertilizer stocks gain, with ammonia-producer Yara climbing 4.2%, while potash-producer K+S gains 3.4%. Chemicals group IMCD gains 5.1%. (josephmichael.stonor@wsj.com)
0949 ET - More than 42,000 U.S. home-sale agreements fell through in February, Redfin says. That's equal to 13.7% of homes that went under contract that month, and up from 12.8% a year earlier. Nearly one in every seven homebuying deals are falling through largely because buyers are in the driver's seat. There are hundreds of thousands more home sellers than buyers in the country. A buyer may back out of a contract during the inspection period if they see a home they like better or an issue comes up that they don't want to repair. House hunters are also feeling jittery because of economic and geopolitical uncertainty, Redfin says. (chris.wack@wsj.com)
0919 ET - Luxury sector could show improving trends in China and the U.S., but faces headwinds including the impact of the war in the Middle East, analysts at Bank of America say in a research note. The analysts expect a sequential improvement in the first quarter of 2026 compared with the last three months of last year. Despite this, "the latest unfolding of geopolitical events places more uncertainty on sector growth in the Middle East and Europe for the short term," BofA says. The analysts expect the war to have weighed on local demand in the Persian Gulf and on tourism spend from Middle East consumers in Europe, they say. BofA upgrades Richemont to buy from a neutral rating, as the Swiss company continues to deliver revenue growth well above sector peers. (andrea.figueras@wsj.com)
0916 ET - Artificial-intelligence isn't a significant risk to Spanish banks, Citi analysts write. Around 65% of the Spanish population use physical bank branches, something that AI can't replicate, the analysts say. Moreover, large Spanish banks have piled significant investment into their digital capabilities, with BBVA acquiring around 66% of its customers digitally, they say. Spain's older population--and the concentration of wealth among this demographic--also helps incumbent banks as older people are less likely to use AI tools, the analysts say. AI will also allow efficiency savings for banks, they add. (josephmichael.stonor@wsj.com)
0915 ET - Beverage company Molson Coors has exclusive commercialization rights for tonic and mixer company Fevertree's products in the U.S. The minimum royalties--a payment floor that the distributor has to pay the brand owner--from Molson Coors' regional distributors provide Fevertree with a buffer against rising energy costs, analysts at Panmure Liberum write in a note. Royalties will also provide a cushion against U.S. tariff exposure, the analysts add. Molson Coors' scale and marketing resources will help drive volume and market-share gains in the U.S., they write. "Importantly, earnings over the next three years are materially underpinned by the guarantees provided by Molson Coors," they add. Fevertree shares are up 8.2% at 816 pence. (aimee.look@wsj.com)
0911 ET - Dollarama is anticipating a slowdown in sales in fiscal 2027, signs that a challenging economic climate is affecting even lower income households in Canada. The discount chain expects same-store sales to slow to 3%-4% in fiscal 2027, down from 4.2% the prior year, suggesting lower-income households are feeling the strain of rising costs tied to U.S. trade tensions and higher oil prices. Typically, tighter household budgets drive more traffic to Dollarama, but the softer outlook marks a shift from the previous quarter. (adriano.marchese@wsj.com)
0851 ET - Bitcoin struggles for direction as uncertainty over the Iran war remains elevated. President Trump said Monday that the U.S. would postpone military strikes against Iranian energy infrastructure for five days after constructive talks but Iran denied any negotiations took place. Trump's comments helped calm global risk sentiment and boost cryptocurrencies, LMAX Group's Joel Kruger says in a note. "Looking ahead, the tone remains cautiously constructive." If global risk sentiment is supported and flows continue to stabilize, bitcoin appears well-positioned for further appreciation with ether likely to follow, he says. Bitcoin last trades flat at $70,894 after earlier gains, LSEG data show. Ether is flat at $2,163. (renae.dyer@wsj.com)
0828 ET - Estee Lauder's possible merger with Spanish group Puig would expand brand and market reach in largely complementary categories, Deutsche Bank analysts write in a note. The U.S. beauty group has a strong presence in skincare, makeup, and luxury fragrances, while Puig excels in perfume, cosmetics and some fashion brands, they say. The Spanish group's footprint in Latin America and Southern Europe could be seen as complementary to Estee Lauder's operations in North America and Asia, they add. A merger could also result in enhanced negotiating power, improved digital-marketing expertise and other efficiencies over time, Deutsche says. Still, the analysts await further details regarding a possible deal. The parties have for now said that no final decision has been made and no agreement has been reached. (andrea.figueras@wsj.com)
0825 ET - Canadians are putting more into their baskets at Dollarama, even as harsher winter weather kept some shoppers away. In 4Q consumers leaned into seasonal decor and long-shelf-life consumables, helping support sales despite weaker traffic. Same-store sales in Canada rose 1.5%, driven by a 3.1% increase in average spend per visit that offset a 1.6% decline in transactions. Dollarama says results were constrained by "unfavorable weather conditions negatively impacting store traffic during historically strong sales weeks." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
March 24, 2026 10:35 ET (14:35 GMT)
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