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- TSX rises in choppy trading; energy bounce offsets poor earnings
- Thu, 30 Jul 2015 11:32:45 -0400 -
By Solarina Ho TORONTO (Reuters) - Canada's main stock index was higher in extremely choppy trading on Thursday as a solid rebound in energy stocks due to bargain hunting and oil prices bouncing off recent lows offset disappointing earnings. Among the most influential movers on the index were Suncor Energy Inc , which rose 5.57 percent to C$36.55, and Canadian Natural Resources , which advanced 2.5 percent to C$31.52. A larger-than-expected draw in U.S. crude and gasoline stocks as well as data that showed a decline in U.S. oil production helped oil prices steady after they had fallen to near six-month lows in recent sessions.
- Royal Bank of Scotland reports rise in 2nd quarter profits
- Thu, 30 Jul 2015 11:21:28 -0400 -
LONDON (AP) — Second-quarter profit at taxpayer-owned Royal Bank of Scotland rose 27 percent, it announced Thursday, but warned the cost of past scandals may continue to weigh on earnings.
- Fiat Chrysler raises outlook as Q2 profit jumps 70 percent
- Thu, 30 Jul 2015 11:10:06 -0400 -
MILAN (AP) — Fiat Chrysler Automobiles on Thursday raised its revenue forecast after strong sales in North American and a recovery in the European market boosted second-quarter profits by 70 percent.
- Time Warner Cable targets closing Charter deal by year end
- Thu, 30 Jul 2015 11:08:10 -0400 -
Time Warner Cable Inc said on Thursday it was working towards closing the deal with Charter Communications by the end of the year. Charter said in May that it would buy Time Warner Cable in a cash-and-stock deal, which valued the larger rival at $78.7 billion. "We're well into the process of seeking regulatory approvals and planning for integration of our operation," Chief Executive Robert Marcus said on a post-earnings conference call with analysts.
- Singapore's GIC reports improved returns but outlook cautious
- Thu, 30 Jul 2015 11:06:04 -0400 -
GIC, a sovereign wealth fund which manages over $100 billion of Singapore's foreign reserves, reported improved returns Thursday but warned future earnings could be hit as central banks worldwide raise interest rates. "While asset prices have risen strongly, the outlook for economic growth and earnings has not improved by as much," Lim Chow Kiat, group chief investment officer at GIC, said in a statement.
- T-Mobile's revenue beats due to strong customer additions
- Thu, 30 Jul 2015 10:36:21 -0400 -
T-Mobile US Inc reported a better-than-expected 14 percent jump in quarterly revenue as aggressive pricing helped it win more customers. T-Mobile said it now expected to add 3.4 million to 3.9 million postpaid users in 2015, up from 3.0 million to 3.5 million. As EBITDA margins climb, that flows through to earnings," Macquarie Research analyst Kevin Smithen said.
- Bombardier delays business jet, shares sink as cash burn rises
- Thu, 30 Jul 2015 10:33:03 -0400 -
(Reuters) - Canadian plane and train maker Bombardier Inc reported lower earnings and sharply higher cash use on Thursday, and pushed back delivery of its new Global business jet, driving down its share price. Bombardier, which has been spending heavily to bring its new CSeries jet into service, used $808 million in free cash flow in the quarter, up from $424 million a year earlier. The stock dropped 11 percent to C$1.74 on the Toronto Stock Exchange.
- Nigeria's Skye Bank H1 pretax profit up 47.4 pct
- Thu, 30 Jul 2015 08:51:08 -0400 - LAGOS (Reuters) - Skye Bank's first-half pretax profit rose 47.4 percent to 10.71 billion naira, the Nigerian mid-tier lender said on Thursday. Gross earnings climbed 33.4 percent to 85.20 billion naira during the six month period to June 30, the bank said in a filing to the Nigerian Stock Exchange.
- Virgin America net profit jumps on higher U.S. travel, lower costs
- Thu, 30 Jul 2015 08:49:44 -0400 -
(Reuters) - Virgin America Inc , a low-cost airline partly owned by Richard Branson, reported a 76 percent jump in quarterly profit, helped by higher U.S. travel and lower fuel costs. The company's net income rose to $65 million in the second quarter ended June 30, from $37 million a year earlier. However, earnings per share fell to $1.47 from $11.92 due to a higher number of shares outstanding in the latest quarter. Total operating revenue rose 0.5 percent to $400.9 million. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Maju Samuel)
- Spain oil group Repsol says quarterly profits down 44%
- Thu, 30 Jul 2015 07:40:56 -0400 -
Spanish oil giant Repsol said Thursday its net profit tumbled nearly 44 percent to 292 million euros ($320 million) in the second quarter after exceptional boosts last year. The global firm increased its production and oil-refining revenues in the second quarter by buying Canadian energy company Talisman, which it integrated into Repsol in May, an earnings statement said. Repsol said its oil production rose by 55 percent to 525,000 barrels a day in the second quarter.
- Lufthansa, lifted by cheap fuel, triples net profit
- Thu, 30 Jul 2015 06:31:29 -0400 -
German airline Lufthansa, still reeling from the crash of one of its Germanwings planes in March over the French Alps, said Thursday it tripled net profit in the second quarter, helped by cheap fuel. The company posted "solid results" in the April-to-June period, although earnings "were strongly impacted by external effects", chief financial officer Simone Menne told a telephone conference. The report beat the expectations of analysts polled by financial services company Factset, whose average forecast was 279 million euros.
- Brewer AB InBev reports sharp drop in profits
- Thu, 30 Jul 2015 05:51:43 -0400 -
The world's biggest brewer Anheuser-Busch InBev reported a sharp fall in second quarter profits Thursday due to weak economic conditions in several markets and poor weather hitting demand. The Belgian-Brazilian giant said three months to June net profit dropped to $1.98 billion (1.81 billion euros) from $2.61 billion a year earlier, when earnings got a boost from soccer's World Cup. The news hit the share price hard, with AB InBev tumbling more than four percent in mid-morning trade.
- Nigeria’s 7up Bottling says Q1 pretax profit falls
- Thu, 30 Jul 2015 05:39:03 -0400 - LAGOS (Reuters) - Nigeria’s 7up Bottling company reported a 9.6 percent drop in first quarter pretax profit to 2.44 billion naira ($12 million) versus the same period a year earlier. Gross earnings for the period from April to June however rose to 23.14 billion naira against 21.03 billion naira in the previous year, the company said in a statement, adding that cost of sales rose to 15.39 billion naira from 13.40 billion naira. ($1 = 198.9800 naira)
- Pan-African banking group Ecobank H1 pretax profit up 47 pct
- Thu, 30 Jul 2015 05:10:00 -0400 -
Ecobank posted a 47.4 percent jump in half year pretax profit to 61.41 billion naira ($309 million) versus the same period a year ago, the Pan-African banking group said on Thursday. Ecobank said gross earnings climbed to 211.32 billion naira in the period to end-June from 175.05 billion naira a year ago. "We continued to drive cost efficiencies in our businesses and our cost-income ratio improved to 62.5 percent compared to 68.1 percent in the previous year," Albert Essien, Ecobank's chief executive officer said in a statement.
- Julius Berger Nigeria's H1 pretax profit falls 15 pct
- Thu, 30 Jul 2015 04:44:34 -0400 - LAGOS (Reuters) - Construction firm Julius Berger Nigeria's first-half pretax profit fell 15 percent to 3.76 billion naira ($19 million) versus a year ago, the firm said on Thursday. Gross earnings also fell to 77.83 billion naira compared with 80.99 billion naira, the company said in a statement, without giving reason for the decreased in earnings. ($1 = 198.9800 naira)
- BT on track for full year due to broadband, pay-TV demand
- Thu, 30 Jul 2015 04:39:41 -0400 -
BT Group is on track to meet full-year expectations, it said on Thursday, after solid demand for fibre broadband and its new Champions League pay-TV football coverage offering helped it post first-quarter revenue and earnings in line with forecasts. The British broadband market leader, which is buying the country's biggest mobile network operator EE from Deutsche Telekom and Orange SA, said an additional 217,000 customers took its superfast fibre broadband service, while it added 60,000 pay-TV customers. Demand for television was helped by the pending launch of its exclusive rights to show Europe's premier football competition, the Champions League, this season.
- Samsung Electronics posts 8% fall in Q2 net profit
- Thu, 30 Jul 2015 02:50:23 -0400 -
South Korean giant Samsung Electronics posted an 8.0 percent fall in second quarter net profit Thursday and promised "flexible" pricing of its new flagship smartphone after less than stellar sales contributed to a slump in its mobile unit's earnings. The world's largest smartphone maker said net profit for the April-June period stood at 5.75 trillion won ($4.9 billion), down from 6.25 trillion won a year ago and slightly below analyst estimates. The conglomerate has now seen its net profit decline for five straight quarters year-on-year, mainly due to heightened competition in an increasingly saturated smartphone market that it had dominated for years.
- Galaxy S6 fails to reverse profit decline at Samsung
- Thu, 30 Jul 2015 02:14:24 -0400 -
SEOUL, South Korea (AP) — Samsung Electronics suffered a fifth straight drop in quarterly earnings as the Galaxy S6 failed to reverse its declining fortunes in global smartphone sales.
- China's Baidu to buy back $1 billion shares after investor selldown
- Thu, 30 Jul 2015 01:21:39 -0400 -
By Paul Carsten BEIJING (Reuters) - Baidu Inc, China's biggest internet search engine company, said on Thursday it will buy back shares worth $1 billion after the company's stock price slid following a weak earnings report earlier this week. The repurchases will take place over the next 12 months and be funded from the company's existing cash balance, New York-listed Baidu said in a statement. Baidu shares have fallen 14 percent since July 27, when it reported lower-than-expected second-quarter profit.
- Suncor second-quarter operating profit falls as lower crude price bites
- Wed, 29 Jul 2015 20:59:29 -0400 -
Suncor Energy Inc , Canada's largest oil and gas company, reported a drop in second-quarter operating earnings on Wednesday, as lower crude prices outweighed increased production. The Calgary-based company, which has already slashed jobs and spending to help cope with the sharp drop in the price of oil, cut its full-year capital spending outlook by C$400 million, though it boosted its dividend by 4 percent to 29 Canadian cents. Suncor's operating profit, which excludes one-time items, fell to C$906 million, or 63 Canadian cents per share, from C$1.14 billion, or 77 Canadian cents per share, in the year-ago period.
- Facebook profit falls 9 percent as costs soar
- Wed, 29 Jul 2015 19:06:29 -0400 -
Facebook Inc reported quarterly revenue that beat forecasts but its profit fell 9 percent as the social media company sharply increased spending to boost mobile revenue and future growth. "We're investing in the next set of services and what will be future investments like Messenger, WhatsApp and Oculus," Chief Operating Officer Sheryl Sandberg said in an interview on Wednesday after the earnings report. Messenger has more than 700 million users, and the app has been downloaded more than 1 billion times on Android, Google Inc's mobile operating system, Facebook said.
- Global stocks, dollar gain as Fed sees improving economy
- Wed, 29 Jul 2015 16:40:46 -0400 -
By Herbert Lash NEW YORK (Reuters) - Global equity markets rose on Wednesday, lifted by strong U.S. and European corporate earnings and a Federal Reserve statement that said the U.S. economy continues to strengthen, adding to expectations an interest rate hike is getting closer. Fed officials said they felt the U.S. economy had overcome a first-quarter slowdown and was "expanding moderately" despite a downturn in the energy sector and headwinds from overseas. The Fed left its key interest rate, which has remained near zero for almost a decade, unchanged as expected.
- Spanish airport operator AENA posts 80% jump in first-half profit
- Wed, 29 Jul 2015 14:18:38 -0400 -
Spain's AENA, the world's biggest airport operator by passenger numbers, said Wednesday its net profit jumped by 79.9 percent in the first half of the year, boosted mainly by one-off tax deductions. The company, which was partially listed on the stock market earlier this year, said higher air traffic and consolidation of Britain's Luton airport also helped earnings. AENA posted a net profit of 275.6 million euros ($304.9 million) during the first six months of the year, up from 153.1 million euros during the first half of 2014.
- At $90 million, Garth Brooks tops Forbes big earning country acts
- Wed, 29 Jul 2015 12:59:34 -0400 -
Country music veteran Garth Brooks on Wednesday topped the annual Forbes list of the world's highest paid country acts, raking in an estimated $90 million in earnings over the past year. Brooks, 53, who resumed touring last year after 13 years off the road, also notched up the biggest pay day in a single year ever recorded by Forbes for a country music act. Toby Keith, best known for more pop-driven hits like "Red Solo Cup" and "How Do You Like Me Now?!," ranked No. 2 on Forbes list with $53 million.
- European stocks close higher amid strong earnings
- Wed, 29 Jul 2015 12:38:59 -0400 -
Europe's main stock markets closed higher Wednesday, as traders reacted to a batch of strong company earnings updates ahead of the Federal Reserve's latest policy statement. The CAC 40 in Paris finished 0.81 percent higher at 5,017.44 points, while Frankfurt's DAX 30 gained 0.34 percent to close at 11,211.85. Trading was lifted by positive corporate results across Europe, including encouraging numbers from pharmaceutical giant GlaxoSmithKline, Barclays bank and French companies Peugeot and Total.