The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
Day: February 23, 2017
SpaceX’s Dragon capsule arrives at the space station
The Canadarm 2 reaches out to capture the SpaceX Dragon cargo spacecraft and prepare it to be pulled into its port on the International Space Station on April. The A day after aborting an attempted docking, SpaceX’s Dragon spacecraft arrived at the International Space Station Thursday and was captured by the station’s robotic arm while flying over Australia.
Carlos Ghosn Grabs Renault Steering Wheel Amid Massive Race in Europe’s Car Market
Carlos Ghosn is stepping down from his role as CEO of Nissan as French rival Peugeot accelerates plans to buy the European operations of General Motors. Carlos Ghosn, perhaps the most powerful man in the global auto industry, is stepping down from his role as CEO of Nissan Motor Co.
Glencore Smashes 2016 Profit Target in a Year When Shares Rose More Than 200%
The mining and trading house closed the book on its 2015 share collapse, claiming its turn around was complete and suggesting it could return cash to shareholders. Glencore plc claimed victory over its doubters Thursday, posting a 48% increase in annual profits and declaring that it had completed a rapid turn around from the 2015 wobble that briefly raised questions about its viability.
Boeing’s Charleston Plant Enters a New Age as It Turns Out the First 787-10
Boeing’s plant in Charleston, S.C., just had the most dramatic week in its history, a week that made it seem that the sky is the limit for the future of the five-year-old plant. On Feb. 15, plant workers voted overwhelming not to join the International Association of Machinists, seemingly reaffirming right-to-work South Carolina’s success in 2009 in luring Boeing here, far from the Washington workers who had built all of its legacy commercial aircraft for decades.
Deutsche Bank Loses Ground in Trading as JPMorgan Thrives
Deutsche Bank’s negotiations with U.S. prosecutors last year over alleged mortgage misdeeds rattled investors, leading many of the German lender’s trading partners to defect — apparently to American rivals. Deutsche Bank , the German lender hit last year by a $7.2 billion settlement with U.S. authorities over alleged mortgage misdeeds, is losing ground to American rivals in the highly profitable arena of bond and currency trading, a new report shows.
Dow on Track for More Records as Oil Gives Lift to Stock Futures
Stock futures inch higher on Thursday, setting the Dow Jones Industrial Average up for more records as crude oil posts solid gains. Stock futures inched higher on Thursday, setting the Dow Jones Industrial Average up for more records as crude oil posted solid gains.
Trader’s Daily Notebook: Maybe, Just Maybe, We’re Nearing a Tipping Point
After ending last week with a pair of inside days, Wednesday’s E-Mini S&P 500 futures auction produced yet another session where the entire regular session’s price range fell within the prior day’s range. And unfortunately, unless you’re a scalper playing for ticks, there’s really not much to do when the entire session’s range only amounts to 7.5 handles.
Rev’s Forum: The Bear’s Argument in a Nutshell
On Wednesday, the Dow Jones managed its ninth straight gain, but overall stocks were mostly lower. Breadth was negative, volume slowed and the number of stocks hitting new 12-month highs declined.
‘There is an otherworldliness about Tesla that I have only seen for Amazon.’
What can I say? The guy’s got all of the answers. All of them. And he doesn’t lack for confidence in giving you them.
Loblaw fourth-quarter profit up 57% to $201M
Loblaw’s net profit was up 57 per cent or $73 million from a year earlier, while revenue was up $265 million or 2.4 per cent. a Loblaw had $11.13 billion of revenue and a $201 million net profit in the fourth quarter, according to earnings announced Thursday morning.
Kohl’s Reports Lower-Than-Expected Sales
Department store operator Kohl’s reported lower-than-expected quarterly sales as it struggles with low demand for apparel and competition from online retailers. Net income fell to $252 million, or $1.44 per share, in the fourth quarter ended Jan. 28, from $296 million, or $1.58 per share, a year earlier.
India Blocks Theatrical Release of Feminist Drama ‘Lipstick Under My Burkha’
Alankrita Shrivastava’s film, which won honors at Tokyo and Mumbai last year, features “abusive words, audio pornography” and more, says the country’s censor board. After winning accolades on the film festival circuit, Indian female empowerment drama Lipstick Under My Burkha has hit a hurdle at home with India’s censor board denying the film a theatrical release certificate.
The Nigerian Designer Who’s Dressed Michelle Obama, Lupita Nyong’o & Solange
She says she wants to “dress the world,” and she’s off to an impressive start. We spoke with Amaka Osakwe about what inspires her Maki Oh clothing line.
How Eero Plans To Fend Off Wi-Fi Rivals: Lower Prices And No Distractions
The startup’s whole-home Wi-Fi system is getting a price cut on its first birthday. Can it stay on top of the market it created? After jump-starting the whole-home Wi-Fi market last February, Eero is celebrating its first birthday with price cuts.
The 10 Most Innovative Companies In Consumer Electronics 2017
In the old days, every outfit in a list of important consumer electronics companies would have made . . . you know, consumer electronics.
Nissan Savior Ghosn Hands Keys to New CEO to Focus on Alliance
Carlos Ghosn, one of the auto industry’s most celebrated turnaround artists, is relinquishing his CEO role at Nissan Motor Co. and turning over day-to-day control to Hiroto Saikawa as he focuses on strengthening the carmaker’s alliance with Renault SA and Mitsubishi Motors Corp. The move caught some observers by surprise.
China Expands Drug Insurance Coverage in Boost to Pharma Stocks
China expanded the list of medicines covered nationwide by government insurance for the first time since 2009, a move that sent the shares of Chinese drugmakers soaring. The central government decided to add 339 drugs to a list of medicines covered by the country’s basic medical insurance, the Ministry of Human Resources and Social Security said in a statement on Thursday.
BAE Systems Annual Profit Jumps 13% on U.S. Spending Boost
BAE Systems Plc, Europe’s biggest defense company, posted a 13 percent gain in full-year earnings as U.S. military spending picked up and its planes and weapons were deployed in wars in Syria and Yemen. Underlying earnings before interest, tax and amortization rose to 1.91 billion pounds from 1.68 billion pounds a year earlier, the London-based maker of Eurofighter warplanes said in a statement Wednesday.
PSA Ready for `Opportunities’ as Profit Gain Helps Opel Stance
PSA Group declared itself ready to take on challenges like acquiring General Motors Co.’ s struggling European operations as a successful revival bolsters the French carmaker’s finances and profitability.
Barclays Shares Climb on Capital Boost, Restructuring Progress
Barclays Plc shares rose to the highest in more than a year as its capital ratio climbed more than expected and the bank signaled progress in efforts to divest its Africa unit and sell off unwanted assets. Fourth-quarter pretax profit was 330 million pounds , from a loss of 2.1 billion pounds a year ago, the London-based lender said in a statement Thursday.
Barclays says it will complete its restructuring early
Barclays Group says it will complete its restructuring six months earlier than planned as it sheds risky assets and focuses on consumer, corporate and investment banking in New York and London. Barclays now plans to close its non-core unit at the end of June after reducing its stake in Barclays Africa to 12.2 percent and agreeing to legally separate the business.
Germany Leads Major Economy Growth in 2016 with a 1.9% Advance
Germany’s economy expanded at the fastest pace in five years in 2016 as a weaker euro helped boost growth to the strongest level of any advanced nation in the world. Germany’s economy expanded at the fastest pace in five years in 2016, according to data published Thursday, as a weaker euro helped lift exports and domestic demand boosted growth to the strongest level of any advanced nation in the world.
FTSE 100 lower despite RSA Insurance boost
Shares in RSA and Barclays were among the top risers in early trade, but overall the market was lower on a busy day for UK corporate earnings. The FTSE 100 index was down 13.64 points at 7,288.61, with a number of firms falling after going ex-dividend.
Barclays Swings to Profit as Restructuring Nears End
Barclays swung to a full-year net profit of GBP1.6 billion , as the bank’s management said it was just months away from finishing a restructuring of the U.K. lender. The British bank on Thursday said total income was down 3% over the year to GBP21.5 billion, as the bank continued to exit businesses.
BAE Systems Full-Year Profit Jumps 13% on U.S. Spending Revival
BAE Systems Plc, Europe’s biggest defense company, posted a 13 percent gain in full-year earnings as U.S. military spending picked up and its planes and weapons were deployed in wars in Syria and Yemen. Underlying earnings before interest, tax and amortization rose to 1.91 billion pounds from 1.68 billion pounds a year earlier, the London-based maker of Eurofighter warplanes said in a statement Wednesday.
PSA’s Profit Jump Bolsters Peugeot Maker in GM Talks
PSA Group’s earnings jumped 18 percent last year, underscoring the French carmaker’s revival and buoying its efforts to buy General Motors Co.’ s struggling European operations.
Barclays Profit Misses Estimates on Bonus Deferral Charge
Barclays Plc posted fourth-quarter profit that missed analysts’ estimates on a charge for accelerating the costs of deferred bonuses, while the bank signaled progress in its effort to divest its Africa unit and sell off unwanted assets. Pretax profit was 330 million pounds , from a loss of 2.1 billion pounds a year ago, the London-based lender said in a statement Thursday.
AIA, Manulife Said to Bid for SCB’s Thai Life Insurance Unit
AIA Group Ltd. and Manulife Financial Corp. are among bidders for Siam Commercial Bank Pcl’s life insurance operations in what could be the biggest-ever acquisition of a Southeast Asian insurer, people with knowledge of the matter said. Thai billionaire Charoen Sirivadhanabhakdi is partnering with Singapore’s Great Eastern Holdings Ltd. on a non-binding offer, while Hong Kong tycoon Richard Li’s FWD Group and, separately, Prudential Plc have also bid, according to the people.
Verizon Uses High Ranking in Reliability Survey To Knock T-Mobile
Verizon is firing back at T-Mobile’s aggressive marketing campaigns, pointing to fresh data showing the telecommunications giant offers the most reliable U.S. wireless service. RootMetrics’ latest reading on U.S. wireless performance, released late Wednesday, has Verizon tops in national reliability, network speed, and data, call and text performance.
Verizon To Test 5G Service in 11 Cities
Between now and mid-year, Verizon expects to begin pilot tests of next-generation, 5G wireless services in 11 metropolitan regions across the U.S. Aimed at select customers in those regions, the tests will explore a variety of deployment scenarios. Compared to today’s 4G technology, the next generation of wireless communication promises far faster speeds with lower latency and many times more network capacity.
Powerball
DES MOINES, Iowa – The winning Powerball numbers have been drawn for the jackpot that’s climbed above $400 million for the first time in nearly three months. The numbers are 10-13-28-52-61 and Powerball 2. The game’s website says one winning ticket was sold in Indiana.
European Stocks Called Lower After Dovish Fed Minutes Trim U.S. Dollar Gains
European markets are expected to open mixed Thursday after relatively dovish minutes from the last meeting of the U.S. Federal Reserve stalled the recent U.S. dollar rally. European markets are expected to open mixed Thursday after relatively dovish minutes from the last meeting of the U.S. Federal Reserve stalled the recent U.S. dollar rally and held down equity gains in Asia markets.
PSA Peugeot Beats Full Year Forecasts, Will Pay First Dividend in Six Years
PSA Pegout posted much better-than-expected full year earnings Thursday and said it would pay shareholders the first dividend in six years after a solid 2017 outlook. PSA Pegout SA posted much better-than-expected full year earnings Thursday and said it would pay shareholders the first dividend in six years after a solid 2017 outlook.
Barclays Posts Full Year Profit Increase, Trims Bonus Pool
Barclays posted weaker-than-expected full year earnings Thursday and reduced its bonus pool as the U.K. lender came to the end of its ongoing restructuring program. Barclays plc posted weaker-than-expected full year earnings Thursday and reduced its bonus pool as the U.K. lender came to the end of its ongoing restructuring program.
BAT Beats Full Year Earnings Estimate; Boosts Dividend
British American Tobacco plc BTI posted stronger-than-expected full year earnings and boosted its dividend as the group prepares to close its $50 billion takeover of Reynolds American RAI British American Tobacco plc posted stronger-than-expected full year earnings and boosted its dividend as the group prepares to close its $50 billion takeover of Reynolds American BAT said full year diluted earnings per share came in at 247.5 pence each, an 18.8% increase from 2015 and ahead of the FactSet consensus of 242 pence. Full year revenues, however, were marginally shy of analysts’ forecasts, coming in at A 14.751 billion against a A 14.88 billion estimate.
China Shares Fall; Property Tax in Focus
China’s main stock indexes snapped a three-session winning streak to end lower on Thursday, as expectations of new asset management rules and property taxes weighed on the market. The blue-chip CSI300 index fell 0.5 percent, to 3,473.32 points, while the Shanghai Composite Index lost 0.3 percent to 3,251.38 points.
Japan’s Biggest Anime Channels to Combine Operations
Owned by Sony and trading house Mitsui, Kids Station and Animax will come under a joint venture as online platforms challenge the pay TV business model. Sony Pictures Entertainment Japan and trading house Mitsui are forming a joint venture to operate the two anime cable stations they own in Japan, the two companies announced Thursday.
Trump Tower Protection Cost NY City $24M From Election to Inauguration
It cost New York City about $24 million to provide security at Trump Tower, President Donald Trump’s skyscraper home in Manhattan, from Election Day to Inauguration Day, or $308,000 per day, New York’s police commissioner said on Wednesday. The revelation prompted renewed calls for Congress to reimburse the city for the cost of protecting Trump’s private residence on Manhattan’s Fifth Avenue, where his wife and their son continue to reside.