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- New drug sales help boost Novartis Q1 profit
- Thu, 24 Apr 2014 04:45:13 -0400 -
GENEVA (AP) — Strong new drug sales helped Swiss pharmaceutical firm Novartis AG report a 24 percent rise in first-quarter profit.
- Juicy Apple buoys shares, euro volatility sinks
- Thu, 24 Apr 2014 04:11:05 -0400 -
By Marc Jones LONDON (Reuters) - Global stocks were back on the front foot on Thursday, as upbeat earnings from tech heavyweights Apple and Facebook helped shake off some of the jitters that have hit the sector in recent weeks. The gains were boosted by the region's tech stocks and come after iPhone giant Apple reported record first quarter sales and laid out plans for a $30 billion share buy back and seven-for-one stock split. Facebook Inc shares jumped 3.7 percent after hours as the Internet social networking company topped Wall Street's expectations. The Nikkei slipped 0.97 percent with some investors apparently disappointed that a meeting between Japanese Prime Minister Shinzo Abe and U.S. President Barack Obama made no concrete progress on a trade deal.
- AstraZeneca flags cancer advances, silent on Pfizer bid talk
- Thu, 24 Apr 2014 04:08:13 -0400 - By Ben Hirschler LONDON (Reuters) - AstraZeneca highlighted progress with new cancer drugs that may revive its fortunes as it posted a 17 percent fall in core earnings per share on Thursday, reflecting patent losses on profitable older medicines. Britain's second-biggest drugmaker made no reference to a reported 60 billion pound bid approach from Pfizer in its results statement. The firm's new cancer drugs are seen as a big draw for the U.S. group. Analysts at Berenberg Bank said bid speculation and progress with the late-stage drug pipeline should support the shares, despite "another difficult set of financials".
- Anglo copper, iron output rise, while strike hits platinum
- Thu, 24 Apr 2014 04:07:32 -0400 -
Miner Anglo American posted an increase in its copper and iron ore production in the first quarter of 2014, broadly in line with analysts' forecasts, but its platinum output slumped, hit by a strike at its South African operations. Output of iron ore, which makes up almost half of group earnings, totalled 11.3 million tonnes in the first quarter, up 10 percent from the year before, when production at the Sishen mine in South Africa was curbed following a strike in late 2012. Anglo raised its 2014 copper production output guidance to 710,000-730,000 tonnes from 700,000-720,000. In platinum, where Anglo is cutting jobs and mothballing mines to improve the unit's profitability, equivalent refined platinum production fell 39 percent to 357,000 ounces, largely due to a crippling three-month mining strike over wages affecting some of its South African operations.
- Canon nudges up profit forecast on higher office equipment sales
- Thu, 24 Apr 2014 02:42:26 -0400 -
Canon Inc raised its full-year operating profit target by a slight 1.4 percent after strong sales of office copiers and printers in the first quarter. Canon, the world's biggest camera maker, said in its quarterly earnings statement it expects an operating profit of 365 billion yen ($3.56 billion) for the year to December 31, a slight increase from its previous forecast of 360 billion yen. Its office equipment sales rose 9.7 percent in the January-March quarter. Canon posted an 82.6 billion yen operating profit for the January-March quarter, a 51 percent increase on the year.
- Facebook 1Q results soar; CFO to step down
- Wed, 23 Apr 2014 18:36:00 -0400 -
NEW YORK (AP) — Facebook's earnings nearly tripled and revenue grew sharply in the first quarter, surpassing Wall Street's expectations thanks to an 82 percent increase in advertising revenue.
- Wall Street snaps six-day run; Apple to split stock
- Wed, 23 Apr 2014 17:47:31 -0400 -
By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks dipped on Wednesday to snap a six-session winning streak as gains in Boeing and Gilead were offset by slides in AT&T and the wider biotech sector. AT&T Inc fell 3.8 percent to $34.92 a day after the Dow component reported earnings that beat expectations, offset by weak service revenue growth. Verizon Communications shed 1 percent to $47.43 while the S&P telecom sector index dropped 2.2 percent, easily making it the session's worst-performing sector. Biotech shares pulled the Nasdaq lower.
- US stocks edge lower after a six-day rise
- Wed, 23 Apr 2014 17:08:50 -0400 -
NEW YORK (AP) — Stocks edged mostly lower Wednesday, breaking a six-day winning streak, as investors were disappointed by the latest round of earnings from U.S. companies.
- A stock rally falters as US earnings disappoint
- Wed, 23 Apr 2014 16:10:04 -0400 -
NEW YORK (AP) — The stock market is closing slightly lower as several U.S. companies report disappointing earnings.
- Strong U.S. defense firm profits defy regular gloomy warnings
- Wed, 23 Apr 2014 15:10:04 -0400 -
By Andrea Shalal WASHINGTON (Reuters) - U.S. arms makers complain regularly that lower Pentagon spending on ships, jets and other hardware will hit their earnings, but a string of better-than-expected results this week show that layoffs and cost-cutting have kept profits flowing, and growing. Defense majors Lockheed Martin Corp , General Dynamics Corp , and Northrop Grumman Corp have all reported higher profits this week and raised their full-year forecasts.
- TD Ameritrade second quarter profit up 35 percent on net new assets
- Wed, 23 Apr 2014 11:35:42 -0400 -
By Jed Horowitz NEW YORK (Reuters) - TD Ameritrade Holding Corp , the biggest U.S. discount broker, said profit in its fiscal second quarter jumped 34.7 percent to $194 million on record revenue driven by net new client assets of $12.2 billion and heavy trading. The profit translates to 35 cents a share, also up 35 percent from the year-earlier quarter and consistent with the forecast of analysts tracked by Thomson Reuters I/B/E/S. On a conference call with analysts, Chief Financial Officer William Gerber said the firm expects earnings per share for the firm's fiscal year, which ends on September 30, to hit or beat the high end of its earlier projections of $1.20 to $1.40. In the first six months, TD Ameritrade has generated earnings of 70 cents a share, up from 53 cents in the comparable 2013 period. Fred Tomczyk, the company's chief executive, told Reuters that it's unrealistic to expect customer trading to continue at the elevated levels of the just-ended quarter, however, in part because the social media, biotech and other technology stocks popular with TD Ameritrade's customers are declining.
- US stocks edge lower after a six-day rally
- Wed, 23 Apr 2014 11:16:10 -0400 -
NEW YORK (AP) — The stock market slipped Wednesday after rallying for six straight days as investors worked through another round of quarterly earnings reports from U.S. companies. Intuitive Surgical was among those reporting disappointed results. A worse-than-expected report on the housing market also weighed on the broader market.
- Cost controls boost Dow Chemical margins, profit tops estimates
- Wed, 23 Apr 2014 09:54:38 -0400 -
(Reuters) - Dow Chemical Co , the No. 1 U.S. chemical maker by sales, reported a stronger-than-expected rise in quarterly profit as cost controls helped to boost margins in its divisions that make coatings, plastics and crop-protection products. Dow Chemical cut 5 percent of its workforce and shuttered 20 plants in late 2012. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in Dow Chemical's coatings and infrastructure solutions business rose 20 percent in the quarter. EBITDA, excluding some items, rose 9 percent in the company's agricultural sciences business, while performance plastics reported a 5 percent increase on the same basis.
- Stock futures little changed ahead of open
- Wed, 23 Apr 2014 09:28:00 -0400 - U.S. stock futures barely budged in pre-market trading Wednesday as positive earnings news from U.S. companies was offset by a disappointing economic report from China.
- Nigeria's Wema Bank swings to Q1 profit of 590.7 mln naira
- Wed, 23 Apr 2014 08:02:24 -0400 -
Nigeria's Wema Bank said on Wednesday said it swung to a pretax profit of 591 million naira ($3.64 million) in the first-quarter from loss of 853 million naira in the same period last year, sending its shares higher. Gross earnings rose to 10.15 billion naira during the three months to March 31, against 7.96 billion naira a year earlier, the regional bank said in a filing with the Nigerian Stock Exchange. Shares in Wema rose 1.0 percent to 1.0 naira at 1028 GMT.
- Earnings, healthcare give Wall Street sixth straight gain
- Tue, 22 Apr 2014 17:28:54 -0400 -
By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks rose on Tuesday as a host of solid earnings reports, along with strength in the healthcare sector, helped lift the S&P 500 and Nasdaq to their sixth straight advance. Netflix Inc surged 7 percent to $372.90 a day after reporting strong subscriber growth, a sign the trading favorite still had room to grow despite recent valuation concerns. The S&P healthcare index , up 1 percent, was the best performer of the 10 major S&P sectors. Allergan Inc jumped 15.2 percent to $163.65 a day after activist investor William Ackman teamed up with Canadian drugmaker Valeant Pharmaceuticals International Inc to bid for the company.
- Earnings and corporate deals lift US stocks
- Tue, 22 Apr 2014 17:12:45 -0400 -
NEW YORK (AP) — Corporate deals and some solid earnings reports propelled the stock market to its sixth straight gain Tuesday.
- CN Rail profit rises despite challenging winter
- Tue, 22 Apr 2014 17:06:41 -0400 - Canadian National Railway Co , the country's biggest railroad, reported first-quarter earnings that topped expectations on Tuesday and reaffirmed its 2014 financial outlook, even as an extremely cold winter hampered operations. Adjusted earnings per share were 66 Canadian cents, compared with 61 Canadian cents in the year-ago quarter. Analysts, on average, were expecting 62.5 Canadian cents a share and revenue of C$2.64 billion, according to Thomson Reuters I/B/E/S. ""It is the harshest winter at least I have been involved with and I have been at CN for 20 years," Chief Executive Claude Mongeau during a conference call. "It clearly impacted our ability to meet all of the customer demand that we had in front of us." CN's results come after a record first quarter at rival Canadian Pacific Railway Ltd .
- AT&T earnings unchanged, but revenue grows in 1Q
- Tue, 22 Apr 2014 17:04:26 -0400 - NEW YORK (AP) — AT&T said Tuesday that its first-quarter earnings were unchanged from the first three months of last year, but revenue grew as the wireless business added more than 1 million subscribers.
- Stocks move higher as more earnings roll in
- Tue, 22 Apr 2014 16:17:14 -0400 -
NEW YORK (AP) — The stock market is notching its sixth gain in a row as more U.S. companies report solid earnings.
- Harley-Davidson 1Q earnings roar ahead
- Tue, 22 Apr 2014 15:06:02 -0400 -
MILWAUKEE (AP) — Harley-Davidson reported an 18.7 percent rise in first-quarter earnings, saying motorcycle sales grew 5.8 percent worldwide and efficiency efforts took hold during the quarter.
- Lockheed lifts outlook as profit rises, but revenue falls
- Tue, 22 Apr 2014 14:22:53 -0400 -
By Andrea Shalal WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's largest supplier, on Tuesday reported a 23 percent jump in net profit in the first quarter and raised its earnings per share outlook for the full year by 25 cents. But Lockheed, maker of the F-35 fighter jet, satellites and coastal warships, said U.S. government budget cuts continued to depress revenue this year, with sales to the U.S. military likely to drop by 6.0 percent in 2014 after a 4.0 percent drop in 2013. Chief Financial Officer Bruce Tanner told reporters on Tuesday that the lost revenue amounted to "a pretty significant" 10 percent drop over two years, which has reversed the company's expectation that 2014 would be a growth year.
- Bettors on big swings in Netflix stock run for the exits
- Tue, 22 Apr 2014 12:42:28 -0400 - By David Gaffen NEW YORK (Reuters) - Options investors expecting a big move in Netflix shares after the video streaming service posted earnings didn't get what they wanted, and they're fleeing en masse on Tuesday. Headed into Netflix Inc's earnings after the close of Monday's trading, the expectation was for the stock to move by about $39 a share, or about 11 percent, by the end of the week. That's a bit boring by Netflix standards, as the stock has averaged a move of about 18 percent in the last six quarters the day after reporting earnings. However, on Tuesday, Netflix was up just $17.51 or 5 percent at $366, well short of the usual move, disappointing those who were looking for a lot of volatility that could carry the stock close to $400.
- Stock gains continue amid earnings and deals
- Tue, 22 Apr 2014 12:06:18 -0400 -
Stocks rose Tuesday as more companies reported solid first-quarter earnings. The market also got a lift from deal news. Netflix rose after announcing a big jump in its earnings and Botox maker Allergan ...
- Stocks gains continue amid earnings and deals
- Tue, 22 Apr 2014 11:13:44 -0400 -
NEW YORK (AP) — Stocks edged higher as more companies reported first-quarter earnings. The market also got a lift from deal news. Netflix rose after reporting a big jump in its earnings and Botox maker Allergan rose sharply on a takeover bid.