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initial jobs data and corporate trivia ?3

08:55 30-Jul-25


The ADP report for July came in at +104K with 4.4% annual salary growth, with the first number more than doubling expectations.  This is a welcome contrast to yesterday morning's JOLTS numbers which confirmed the employment market was still frozen in June.  As usual, the market ignores these numbers even though I consider them superior to Friday's employment report.  For markets, though, this undercuts any expectation of the Fed signaling a September rate cut this afternoon.

In corporate news, Clean Energy has published its new supply contract update well ahead of upcoming earnings, and again omits totals as my 22M gallon estimate would represent a further substantial drop from historical levels that used to be in three-figure annual millions of gallons.

Telus providing WiFi 7 equipment on top of its fiber shows that it is keeping up with technology.

Westport completed the divestment of its Light Duty segment with additional earn outs limited to €3.3M.  This won't affect the upcoming earnings report, and despite pronouncements, I still see any opportunity for WPRT as strictly very long term.  I'll look for meaningful color nonetheless.

Finally, Amsc has scheduled its fiscal first quarter report for tomorrow evening.  A trio of analysts expect 12 cents of EPS on average, from $65.0 of revenue, declining to $63.7M this quarter.  I doubt there is anything that could justify current AMSC prices above $40.  Consequently, I am likely to merely report the numbers.