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- Slide in US stocks slows in afternoon trading
- Tue, 27 Jan 2015 13:27:52 -0500 -
Disappointing earnings outlooks from big-name companies drove the stock market lower Tuesday afternoon as investors worried about future profit growth.
- Stocks, dollar fall after weak U.S. durables data, earnings
- Tue, 27 Jan 2015 13:00:57 -0500 -
By Caroline Valetkevitch NEW YORK (Reuters) - Global stock indexes fell on Tuesday following disappointing U.S. corporate earnings results and an unexpected decline in U.S. durable goods orders, while the dollar also retreated. All three major U.S. stock indexes were down more than 1 percent in midday trading. Shares of Microsoft , down 9.1 percent, and Caterpillar , down nearly 8 percent, were among the biggest drags on U.S. stocks. Microsoft's results showed the main engine of its historic earnings power, selling Windows and Office software to big businesses, is waning. ...
- P&G warns of drop in full-year net sales as dollar strengthens
- Tue, 27 Jan 2015 12:53:34 -0500 -
"This is the most significant fiscal year currency impact we have ever incurred," Jon Moeller, chief financial officer said in an earnings conference call. Procter & Gamble said the exchange rates would reduce full-year sales by 5 percent and profit by 12 percent, or at least $1.4 billion after tax. Out of that, $1 billion would be as a result of currency devaluation in six countries - Russia, Ukraine, Venezuela, Japan, Argentina and Switzerland. Moeller said the impact from currency fluctuation will never go away fully and the company is working to further localise its supply chain and is building 20 new manufacturing plants in emerging markets.
- Dow plunges after weak earnings, econ news
- Tue, 27 Jan 2015 11:22:24 -0500 -
The Dow Jones industrial average has dropped nearly 400 points in late morning trading after disappointing earnings reports and a surprise drop in orders for long-lasting goods.
- U.S. consumer confidence rises to strongest since August 2007
- Tue, 27 Jan 2015 10:33:57 -0500 -
The Conference Board, an industry group, said its index ofconsumer attitudes jumped to 102.9 from an upwardly revised 93.1in December. Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings," Lynn Franco, the Conference Board's director of economic indicators, said in a statement. The Conference Board's one-year consumer inflation rate expectation was 5.0 percent.
- P&G fiscal 2Q earnings drop 31 pct, hurt by exchange rates
- Tue, 27 Jan 2015 09:42:38 -0500 -
Procter & Gamble's second-quarter earnings sank 31 percent as the strong U.S. dollar cut into the performance of the world's largest consumer products maker.
- Pfizer earnings slip on loss of drug patent exclusivity
- Tue, 27 Jan 2015 08:22:40 -0500 -
Pfizer reported Tuesday that revenues and profits fell again in the fourth quarter of 2014 as the drug maker continued to suffer from the loss of exclusive rights to various treatments. The results nevertheless beat analysts' expectations nevertheless, as the erosion of the company's income stream from the steady loss of exclusive rights to produce and sell a number of drugs has been ongoing for several years. For the full year of 2014, Pfizer said revenues dropped 3.8 percent to $49.6 billion, taking diluted EPS to $1.42, down from $3.19 in 2013. The company predicted more of the same for this year, saying it expected revenues to run between $44.5-$46.5 billion and but that earnings per share might improve, with a range of $1.37-$1.52 expected.
- DuPont profit rises, but strong dollar cuts into sales
- Tue, 27 Jan 2015 08:04:20 -0500 -
DOVER, Del. (AP) — Changes to DuPont's portfolio and improved productivity boosted fourth-quarter earnings and helped to offset the negative impact of a stronger dollar.
- Pfizer's 2015 forecast disappoints, crimped by generics, dollar
- Tue, 27 Jan 2015 07:31:32 -0500 -
(Reuters) - Pfizer Inc reported stronger-than-expected quarterly results as sales of vaccines and cancer drugs increased, but the company forecast 2015 earnings below Wall Street expectations, citing patent expirations and the stronger dollar.
- Pfizer beats Street 4Q forecasts
- Tue, 27 Jan 2015 07:24:49 -0500 -
NEW YORK (AP) — Pfizer Inc. (PFE) on Tuesday reported fourth-quarter earnings of $1.23 billion.
- Sony delays earnings after 'The Interview' cyberattack
- Tue, 27 Jan 2015 06:12:11 -0500 -
Sony said Tuesday it has won permission to delay the release of its quarterly earnings report, after a cyberattack damaged the computer network at its Hollywood film unit. The Japanese firm said last week that it was asking for the delay because subsidiary Sony Pictures Entertainment (SPE) would not have time to put together its financial statements after the attack, linked to its controversial North Korea satire "The Interview," which has been widely blamed on Pyongyang. Japanese regulators have now given a green light to the request, Sony said Tuesday. "Sony currently expects that it can submit the quarterly securities report for the third quarter by March 31, 2015, the approved extended deadline for submission," it said in a brief statement.
- Siemens quarterly profit slips 25 pct on slow power business
- Tue, 27 Jan 2015 05:06:59 -0500 -
FRANKFURT, Germany (AP) — Industrial machinery maker Siemens AG says net profit fell 25 percent in its most recent quarter as lower earnings at its key power and gas business weighed on the bottom line.
- Novartis profits jump 12% on new drug sales
- Tue, 27 Jan 2015 05:04:58 -0500 -
Swiss pharmaceuticals giant Novartis said Tuesday strong sales of new products helped push its net profit up 12 percent last year despite harsh competition from cheaper copycat generic drugs. During 2014, the Basel-based company said its net profit rose to $12.7 billion, while sales rose one percent year-on-year to $57.9 billion. The results were largely in line with expectations, with analysts polled by the AWP financial news agency anticipating a net profit of $12.7 billion on sales of $58.1 billion. "2014 was a transformational year for Novartis," the group's chief executive Joseph Jimenez said in the earnings statement.
- Swiss drug maker Novartis posts Q4 profit drop
- Tue, 27 Jan 2015 03:36:20 -0500 - BERLIN (AP) — Swiss pharmaceutical giant Novartis AG says fourth quarter net income dropped 26 percent but the company still posted a healthy 2014 annual profit.
- Asia shares inch ahead, euro steady as Fed meets
- Tue, 27 Jan 2015 03:20:30 -0500 -
The main European indices were expected to open higher, though foul weather in the United States will curb activity on Wall Street. The Federal Reserve also starts its first policy meeting of the year, in what is a busy week for earnings. Japan's Nikkei gained 1.4 percent, while Australia's main index added 0.8 percent.
- Microsoft's core goes soft, as it focuses on cloud transition
- Mon, 26 Jan 2015 21:03:07 -0500 - By Bill Rigby SEATTLE (Reuters) - The main engine of Microsoft Corp's historic earnings power - selling Windows and Office to big businesses - is showing signs of waning, and investors are concerned that the shift to the cloud is not making up for the shortfall. The shift from the old model of selling software to companies to install on their own computers - charged as a license fee - to a cloud-based model where customers pay a regular subscription, is generally viewed as a positive move for Microsoft. "The rotation from license to subscription is going to have pain points and they are starting to show," said Colin Gillis, an analyst at BGC Partners. Microsoft's Chief Financial Officer Amy Hood said on Monday she expected sales from commercial licensing, which covers Windows, Office and server products for businesses, to be around $9.7 billion to $9.9 billion in the current quarter, a sequential dip from the $10.7 billion it reported for the last quarter.
- Qantas lifts base ticket prices to offset dropping of fuel surcharge
- Mon, 26 Jan 2015 20:43:46 -0500 -
By Jane Wardell SYDNEY (Reuters) - Qantas Airways Ltd said it would be raising base ticket prices to compensate for the axing of a separate fuel surcharge, pushing back against calls for the airline industry to lower fares in the wake of falling oil prices. The Australian carrier, which is recovering from years of sharp earnings declines, said a more than halving in oil prices over the past six months was not enough to offset strong competition in international fares. Other major airlines have also argued that base ticket prices are a function of demand, rather than costs, but Qantas appears to be the first to use the argument to defend an absorption of the fuel surcharge.
- Wall Street edges higher as snowstorm dulls trade
- Mon, 26 Jan 2015 16:15:30 -0500 -
New York (AFP) - A massive snowstorm descending on New York dulled Wall Street trade Monday but stocks ended a bit higher, helped by some positive quarterly earnings reports.
- US stock market finishes with small gains
- Mon, 26 Jan 2015 16:12:41 -0500 -
NEW YORK (AP) — The U.S. stock market is finishing with tiny gains as investors weigh corporate earnings, mergers, and the implications of an election victory in Greece by a party opposed to that country's bailout plan.
- Fed faces red flags as it taxis toward rate liftoff
- Mon, 26 Jan 2015 15:58:07 -0500 -
The Federal Reserve taxis toward a liftoff this year in interest rates in a meeting that begins Tuesday, with signs of weakness in the US economy raising questions about timing. The Fed is expected to stay the course on monetary policy in its statement Wednesday and stress patience in waiting to see whether the economy is strong enough to withstand the first increase in the federal funds rate since 2006. Since the December meeting of the Federal Open Market Committee (FOMC), the central bank's policy arm, the rapid slide in oil prices has pulled already weak inflation lower, corporate earnings season has gotten off to a bumpy start, and the nearly stagnant eurozone has been further roiled by Greece's overwhelming vote Sunday for a leftist, anti-austerity party. The European Central Bank's announcement last week of a massive bond-purchase program, or quantitative easing, to stimulate growth and avert deflation in the 19-nation eurozone was expected to at least help the huge US trade partner in the short term.
- Larger-than-usual move for Yahoo shares expected after results
- Mon, 26 Jan 2015 14:16:47 -0500 -
By Saqib Iqbal Ahmed NEW YORK (Reuters) - Yahoo Inc's shares are expected to move nearly twice as much as they have following other recent earnings reports when the company announces fourth-quarter results on Tuesday, options data showed. Yahoo is scheduled to report results after the close of market on Tuesday, and much of investors' focus will be on the company's plans for its 15 percent stake in Chinese e-commerce giant Alibaba Group Holding . Chief Executive Marissa Mayer has been facing pressure from investors to sell Yahoo's stake in Alibaba in a tax-efficient manner and return the money to shareholders. Yahoo's plans for avoiding tax on its Asian assets will have big implications for a post-earnings move in the company’s shares, analysts said.
- IBM dismisses Forbes report of massive layoffs
- Mon, 26 Jan 2015 12:09:47 -0500 -
(Reuters) - IBM dismissed on Monday a Forbes magazine report claiming the technology firm is preparing to cut about 26 percent of its workforce. A report last Thursday on Forbes' website by pseudonymous Silicon Valley technology gossip columnist Robert Cringely said IBM planned to lay off 26 percent of its global workforce, or as many as 112,000 employees. This equates to several thousand people, a small fraction of what's been reported." Last week, Chief Financial Officer Martin Schroeter told investors on IBM's fourth-quarter earnings conference call that the company was taking restructuring charges of around $580 million, but he did not specify the number of jobs affected.
- South Africa's PPC sees H1 earnings as much as 45 pct lower, shares slide
- Mon, 26 Jan 2015 06:38:25 -0500 -
South Africa's biggest cement maker PPC said on Monday it expected its second half earnings to drop as much as 45 percent partly due to rising finance costs, sending its shares falling by more than 8 percent. PPC said earnings for the six months to end March 2015 would likely come in between 72 and 53 South African cents. "Earnings per share for the first half of 2015 are anticipated to reflect a year-on-year decline mainly due to last year's once off tax credit combined with increased finance costs in this year," it said in a statement.
- Anglo American units lower earnings outlooks
- Sat, 24 Jan 2015 05:29:07 -0500 -
By Ed Stoddard JOHANNESBURG (Reuters) - Two units of global mining group Anglo American flagged sharp falls in their full-year earnings on Friday, underscoring the impact of labour unrest and falling prices. Anglo's shares shed over 2.5 percent after the news from South African-based Anglo American Platinum and Kumba Iron Ore. Anglo, which has lagged its peers for years, is already struggling and in December warned of a delay in reaching a return on capital target. Its platinum unit Amplats said it expects full-year headline earnings to fall between 40 and 55 percent as it still counts the costs of a five-month strike. Amplats said in December headline earnings were likely to fall by at least 20 percent, without specifying the depth of any drop.
- Viacom CEO's 2014 pay rises 19 percent to $44.3 million
- Fri, 23 Jan 2015 19:52:09 -0500 - NEW YORK (AP) — Viacom CEO Philippe Dauman's pay climbed 19 percent to $44.3 million last year while the TV-and-film company's stock slumped and its earnings remained flat.