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- Second wind for stocks as earnings turn positive
- Fri, 21 Oct 2016 18:57:58 -0400 -
With S&P 500 earnings on track to rise after four consecutive quarters of contraction, U.S. stocks are clearing a major hurdle that puts the record high in sight for the benchmark U.S. stock index. The S&P 500 hit a record high in mid August even after the long profit slump. "The magnitude of the beats we’ve had is really important," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
- Wall Street ends little changed; Microsoft hits record
- Fri, 21 Oct 2016 16:19:35 -0400 -
The S&P 500 and the Dow were little changed and the Nasdaq advanced on Friday as a record day for Microsoft and earnings from McDonald's helped offset a fall in energy and healthcare shares. General Electric , often seen as an economic bellwether, weighed on the market as the industrial conglomerate's posted results that topped expectations but cut its full-year revenue target to send shares down 0.9 percent after it touched an 8-month low of $28.33. "The dollar is getting stronger, that is going to have a negative impact energy prices, that is going to have a negative impact on corporate earnings, at least potentially," said Phil Orlando, chief equity market strategist at Federated Investors, in New York.
- GE's CEO says oil, gas drag to continue, forex headwinds to ease
- Fri, 21 Oct 2016 14:54:16 -0400 - NEW YORK (Reuters) - General Electric Co expects weakness in oil and gas revenue to continue to drag on its results, but headwinds from foreign exchange translation should ease, Chief Executive Officer Jeff Immelt said on Friday. The diversified industrial company sees scope to continue cutting costs and remains on track to deliver $2 per share in adjusted earnings in 2018, Immelt said during a conference call following the release of GE's third-quarter earnings. (Reporting by Alwyn Scott; Editing by Bernadette Baum)
- South Africa's Lewis Group flags lower half-year profit, shares slide
- Fri, 21 Oct 2016 05:21:27 -0400 - South African furniture retailer Lewis Group expects a drop in half-year earnings of up to 45 percent as its less affluent customers face tough economic conditions, the company said on Friday, sending its shares down. Lewis said headline earnings per share (HEPS) for the six months ended September will be between 210 cents and 177 cents, compared with 322.6 cents last year. Headline EPS is the main profit gauge in South Africa that strips out certain one-off items.
- Mauritius trade deficit widens by a quarter in August
- Fri, 21 Oct 2016 03:20:07 -0400 - PORT LOUIS (Reuters) - Mauritius said on Friday its trade deficit had widened 25.5 percent to 6.66 billion rupees ($186.82 million) in August from the same month last year, after exports of machinery and transport equipment fell sharply. The Indian Ocean island nation's earnings from exports fell 15.4 percent to 6.74 billion rupees, Statistics Mauritius said in a statement. United States was the main destination for exports, followed by Britain and France. Foreign sales of machinery and transport equipment dropped to 366 million rupees from 1.22 billion. Total imports rose 0.6 percent to 13. ...
- E-Class sedan, SUVs boost earnings at Germany's Daimler
- Fri, 21 Oct 2016 02:57:22 -0400 - FRANKFURT, Germany (AP) — German automaker Daimler AG said Friday that stronger sales of its technology-loaded Mercedes-Benz E-Class sedan and SUVs helped third-quarter earnings swell by 13 percent.
- No partner in sight, Twitter faces tough solo choices
- Fri, 21 Oct 2016 02:33:03 -0400 -
By Liana B. Baker and Jim Finkle SAN FRANCISCO/BOSTON (Reuters) - The apparent lack of interest in Twitter Inc by potential suitors may force the social media company to consider a route anathema to aspiring tech startups: a major restructuring and cutting some its nearly 4,000 employees. Earlier this month, Twitter hired bankers to explore selling itself. The aborted sales process - and the company's strategy as an independent company - will be back in the spotlight when Twitter reports earnings on Oct. 27.
- Wall Street dips as telecoms slump; AmEx surges
- Thu, 20 Oct 2016 17:38:54 -0400 -
NEW YORK (Reuters) - U.S. stocks ended a choppy session on Thursday with a slight decline as investors digested the latest round of earnings, with a sharp drop in telecoms offset by gains in healthcare.
- Walgreens posts strong 4Q earns, but delays Rite Aid deal
- Thu, 20 Oct 2016 12:37:45 -0400 -
Walgreens Boots Alliance earnings topped $1 billion during the fourth quarter, easily surpassing analyst expectations, but the drugstore giant also announced a delay in closing its latest megadeal.
- Reliance profits slump 23% after Jio launch
- Thu, 20 Oct 2016 09:42:56 -0400 -
Indian conglomerate Reliance Industries reported a 23 percent fall in quarterly net profits on Thursday in its first earnings report since launching 4G mobile services with great fanfare last month. The company, owned by India's richest man Mukesh Ambani, said the fall was led by lower refining margins in its key oil business but comes after it launched its long-awaited Reliance Jio 4G network in September. Reliance derives most of its earnings from its massive energy operations but is trying to rely less on oil refining margins for its profits.
- AmEx raises 2016 profit forecast; shares up 5.8 percent
- Wed, 19 Oct 2016 19:57:05 -0400 -
American Express Co raised its 2016 adjusted earnings forecast and reported better-than-expected third-quarter revenue on Wednesday, sending its shares up 5.8 percent in extended trading. The credit card issuer, which has historically catered to upscale consumers, said it plans to increase spending on digital marketing, a strategy that helped it add 1.7 million new card members in the United States this quarter and expand globally. Analysts on average had expected the company to earn $5.50 per share in 2016, according to Thomson Reuters I/B/E/S. AmEx, which cut total costs by about 3 percent this quarter, wants to save $1 billion by the end of 2017.
- Energy, banking shares lead US stocks higher
- Wed, 19 Oct 2016 16:45:45 -0400 -
Energy and banking shares led US stocks higher Wednesday following strong results from Halliburton and Morgan Stanley and another rise in oil prices, which ended at their highest level this year. Halliburton jumped 4.3 percent after it described a pickup in North American activity and offered an improved outlook for oil services following a two-year slump. Morgan Stanley climbed 1.9 percent as it reported a 61.7 percent increase in third-quarter earnings to $1.5 billion due to strong gains in its trading division.
- Oil, earnings lift Wall Street but Intel drags
- Wed, 19 Oct 2016 16:17:38 -0400 -
U.S. stocks notched a second straight day of gains on Wednesday, as climbing oil prices lifted the energy sector and earnings from Morgan Stanley provided a boost to financials. Morgan Stanley gained 1.9 percent after posting a better-than-expected quarterly profit to round out a string of solid results from big U.S. banks.
- Canadian Pacific profit misses on delayed grain harvest
- Wed, 19 Oct 2016 14:37:08 -0400 -
Canadian Pacific Railway Ltd reported lower-than-expected quarterly results on Wednesday and cut its full-year earnings forecast, due mainly to a delayed grain harvest and lower crude oil volumes. "Effectively the story is the grain story," CP Chief Executive Hunter Harrison told a call with analysts. "If the grain had been like a lot of folks were predicting I think we would have been right in line with what we expected." Harrison said if the Canadian grain harvest, delayed by weather, doesn't move in the fourth quarter it will carry over into the first quarter of 2017.
- Lufthansa ups 2016 profit forecast on improved business demand
- Wed, 19 Oct 2016 13:54:47 -0400 -
German airline Lufthansa on Wednesday raised its profit forecast for the year, after recording better than expected demand from business travellers in September. The group said earnings before interest and tax will reach "approximately previous year's level" of 1.8 billion euros ($2 billion) rather than the "below previous year" forecast given earlier. "Compared to the previous guidance, especially the difficult-to-forecast short-term bookings of business travellers in September have developed better than expected," it said, adding that moves to slash capacity had also paid off.
- Morgan Stanley's earnings jump, helped by trading
- Wed, 19 Oct 2016 10:13:34 -0400 -
Morgan Stanley's earnings soared 62 percent in the third quarter, thanks to big gains in bond trading. The New York-based investment bank said Wednesday it earned $1.52 billion after payments to preferred ...
- World stocks steady amid firm Chinese growth, earnings
- Wed, 19 Oct 2016 07:16:58 -0400 -
Global stock markets were steady Wednesday after China reported its economy expanded at a firm pace in the July-September quarter and investors awaited more U.S. corporate earnings reports. KEEPING SCORE: ...
- Another quarter of weak results looms for U.S. refiners
- Wed, 19 Oct 2016 01:05:39 -0400 -
U.S. independent refiners such as PBF Energy and Phillips 66 are expected to report another quarter of disappointing profits in coming weeks, as hopes that a record summer driving season would turn the industry's fortunes around do not appear to have materialized. Overall supply levels are still elevated, and the cost to meet U.S. renewable fuel standards will drag on profits for the remainder of the year. Earnings expectations have been falling over the last month for an index of nine independent refiners that are part of the S&P 500.
- Asian shares climb as China posts steady growth, oil higher
- Tue, 18 Oct 2016 23:15:07 -0400 -
TOKYO (AP) — Asian shares rose Wednesday as China reported its economy expanded at a steady 6.7 percent pace in the July-September quarter, better than some forecasters had expected. Sentiment was also lifted by a strong day on Wall Street, fueled by upbeat earnings reports.
- Yahoo rakes in profits as it prepares for Verizon deal
- Tue, 18 Oct 2016 21:39:22 -0400 -
Yahoo's quarterly profits shot up by more than double to $163 million even as it prepares for a takeover by Verizon. The faded internet pioneer skipped its usual quarterly earnings call with analysts due to the pending takeover by the US telecommunication company, for which chief executive Marissa Mayer said Yahoo is busy preparing despite recent revelations about a major data breach that may affect the deal. Shares were up 1.49 percent to $42.30 in after-market trades following the earnings report release, reflecting confidence the breach is not prompting a significant number of users to abandon Yahoo.
- Asian shares firm, betting China won't disappoint
- Tue, 18 Oct 2016 19:48:15 -0400 -
By Wayne Cole SYDNEY (Reuters) - Asian shares inched ahead on Wednesday after Wall Street got a lift from encouraging corporate earnings and investors wagered a coming barrage of Chinese data would confirm the economy had at least stabilized. The pan-European STOXX 600 index rose 1.5 percent to its highest level in nearly a week.
- Intel's results beat estimates; forecast disappoints
- Tue, 18 Oct 2016 18:42:09 -0400 -
Intel Corp reported better-than-expected quarterly earnings and revenue, boosted by improving PC demand and growth in its data center and cloud businesses, but its revenue forecast for the current quarter disappointed Wall Street. Intel said it expects fourth-quarter revenue of $15.7 billion, plus or minus $500 million. Analysts on average were expecting $15.86 billion, according to Thomson Reuters I/B/E/S. "This is below the average seasonal increase for the fourth quarter as we expect the worldwide PC supply chain to reduce their inventory," Executive Vice President Stacy Smith said on a conference call with analysts.
- Strong earnings boost stocks as markets eye ECB
- Tue, 18 Oct 2016 18:30:16 -0400 -
New York (AFP) - Global stocks rose Tuesday following a plethora of mostly good US corporate earnings and ahead of a European Central Bank meeting that is expected to keep monetary stimulus alive.
- Global stocks gain on corporate results, rising commodities
- Tue, 18 Oct 2016 16:30:28 -0400 -
By Dion Rabouin and Herbert Lash NEW YORK (Reuters) - A gauge of global equity markets climbed to a one-week high on Tuesday, lifted by rising commodity prices and a strong bounce in Europe, while solid corporate earnings helped drive share prices higher. Wall Street rose after a raft of stronger-than-expected results from UnitedHealth Group Inc, Netflix Inc and Goldman Sachs Group Inc, among others. UnitedHealth gained 6.9 percent, Netflix soared 19 percent and Goldman Sachs rose 2.2 percent.
- Wall St. climbs on earnings improvement
- Tue, 18 Oct 2016 16:19:12 -0400 -
NEW YORK (Reuters) - Wall Street advanced on Tuesday to give the S&P 500 its best day this month on the heels of solid earnings reports from names such as UnitedHealth and Netflix that put corporate profits on track to snap a four-quarter streak of declines.