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Boeing Q1 Profit Down 13%, But Results Beat View; Lifts Adj. Earnings Outlook
Wed, 23 Apr 2014 13:03:15 GMT - Aerospace and defense giant Boeing Co. on Wednesday reported a 13 percent decline in profit for the first quarter from last year, as higher revenues were more than offset by costs related to retirement plan changes. However, both revenue and adjusted earnings per share for the quarter beat analysts' expectations. Looking ahead to fiscal 2014, Boeing raised its outlook for core earnings.
Stocks May Give Back Ground Following Recent Upward Trend - U.S. Commentary
Wed, 23 Apr 2014 12:58:09 GMT - Following the strong upward move seen over the past few sessions, stocks may give back some ground in early trading on Wednesday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 6 points.
Eurozone Private Sector Growth At 3-year High; Deflation Worries Remain
Wed, 23 Apr 2014 12:32:41 GMT - Eurozone private sector started the second quarter on a solid footing with activity growth the fastest in nearly three years in April, but firms continued to slash prices, fueling fears that deflationary pressures are intensifying. The purchasing managers survey's composite output index rose to 54.0 in April from 53.1 in March, data from Markit Economics showed Wednesday.
New Process To Mass Produce 'wonder Material' Graphene
Wed, 23 Apr 2014 12:32:32 GMT - Researchers have developed a new process to produce large volumes of high quality graphene, described as a wonder material. The new method was developed by a research team led by Prof Jonathan Coleman of AMBER, the Science Foundation Ireland funded materials science center headquartered at Trinity College, Dublin. Graphene is a single-atom thick sheet of carbon. It is extremely light and str
BoE Policymakers Unanimous On Rates; Differ On Slack In Economy
Wed, 23 Apr 2014 12:28:17 GMT - Policymakers of the Bank of England unanimously decided to maintain the key bank rate at a historic low of 0.50 percent and monetary stimulus at GBP 375 billion, the minutes showed Wednesday. Members said economic recovery is building momentum, but they had a range of opinions about the amount of slack remaining within the economy and medium-term inflation outlook.
Procter & Gamble Q3 Adj. Profit Tops View, But Sales Miss; Backs 2014 Outlook
Wed, 23 Apr 2014 12:28:11 GMT - Consumer goods giant Procter & Gamble Co. reported Wednesday a profit for the third quarter that grew 2 percent, despite a small sales drop, reflecting improved operating margins amid lower expenses. Core earnings per share topped analysts' expectations, while quarterly sales missed their estimates. The company also reaffirmed its core earnings and organic sales growth guidance for fiscal 2014.
Northrop Grumman Lifts Full Year EPS View After Q1 Earnings Rise
Wed, 23 Apr 2014 12:06:30 GMT - Defense contractor Northrop Grumman Corp. (NOC) Wednesday said profit for the first quarter increased significantly from the prior year, helped by some tax benefit, even as sales declined. Further, the company lifted its earnings forecast for the year.
U.K. Chancellor Achieves 2013/14 Deficit Target
Wed, 23 Apr 2014 11:08:58 GMT - U.K. Chancellor George Osborne achieved his budget deficit target for 2013/14 as buoyant economic growth boosted tax receipts. Data from the Office for National Statistics on Wednesday showed that net borrowing totaled GBP 107.7 billion in the fiscal year ended March 2014, the lowest since the 2008/2009 financial crisis.
Wall Street Cautious Amid Weak Chinese Manufacturing Data
Wed, 23 Apr 2014 10:40:31 GMT - Wall Street's resilience may give way to fears, especially with the major averages running up quite nicely in recent sessions, thanks to strong earnings and economic data. The major U.S. index futures point to a narrowly mixed opening. Weak manufacturing data released by China has rendered the mood cautious. The domestic markets may also react to another spate of earnings flow, including from blue chips such as Boeing (BA), and the results of a private manufacturing survey due shortly after the markets open.
European Stocks Drift Lower On Earnings, Chinese Data
Wed, 23 Apr 2014 10:33:55 GMT - European stocks edged lower on Wednesday as investors took some profits off the table following the previous session's rally. Traders are also digesting a slew of earnings reports and data out of China, which showed that activity in the Chinese manufacturing sector contracted for a fourth straight month in April.
Reed Elsevier Confirms 2014 Outlook
Wed, 23 Apr 2014 09:51:45 GMT - Anglo-Dutch publishing and events company Reed Elsevier Plc. Wednesday said its first-quarter underlying revenue growth rates, excluding the impact of biennial exhibition cycling, were broadly consistent with 2013. The company also said its fiscal 2014 outlook remains unchanged.
Japanese Automakers' March, Full-year Production Rises
Wed, 23 Apr 2014 09:24:01 GMT - Japanese automakers Toyota Motor Corp., Honda Motor Co., Ltd., Nissan Motor Co Ltd., and Mitsubishi Motors Corp. reported Wednesday a strong growth in their global vehicle production for the month of March as well as for full year ended March 31, 2014.
Asian Stocks Pare Early Gains After China Data
Wed, 23 Apr 2014 09:12:10 GMT - Asian stocks pared early gains on Wednesday, as weak Chinese manufacturing data offset initial optimism over the outlook for the U.S. economy. The safe-haven Japanese yen held steady against the dollar as expectations for more stimulus from the Bank of Japan waned.
Thailand Central Bank Holds Rates Steady
Wed, 23 Apr 2014 08:26:40 GMT - Thailand's central bank left its key interest rate unchanged on Wednesday, after trimming it in the previous month amid the lingering political impasse. The Monetary Policy Committee of the Bank of Thailand voted 6-1 to leave the main policy rate unchanged at 2 percent, which is the lowest level since December 2010. The decision was in line with economists' expectations.
ARM Holdings Posts Higher Profit In Q1
Wed, 23 Apr 2014 08:10:06 GMT - ARM Holdings Plc Wednesday reported higher first-quarter profit, as revenues grew 10 percent on demand for its technology licensing. Looking ahead, the company said its pipeline of licensing opportunities remains healthy for the second quarter and the rest of the year.
Associated British Foods H1 Profit Climbs As Primark Shines
Wed, 23 Apr 2014 07:59:16 GMT - Associated British Foods Plc. (ASBFY.PK, ABF.L), owner of the Primark retail chain, Wednesday reported increased profit for the first half of the year, despite a fall in sales, as strong performances from Primark and Grocery, and improvement at Ingredients more than offset a substantially lower profit from Sugar. The stock advanced over 8 percent in early morning trade.
QRxPharma Snubbed Again, Illumina Shines, ENTA Gets Rich, LLY Opens Wallet
Wed, 23 Apr 2014 06:59:27 GMT - The Food and Drug Administration advisory panel has unanimously voted against recommending QRxPharma Ltd.'s (QRXPY.OB) Moxduo, an immediate release Dual Opioid for the treatment of moderate to severe acute pain. The FDA's final decision is slated for May 25, 2014.
Ericsson Profit Climbs; Sales Weak
Wed, 23 Apr 2014 06:57:24 GMT - Mobile network equipment maker LM Ericsson Telephone Co. (ERIC) Wednesday reported increased profit for the first quarter, even as sales declined amid adverse currency and weakness in North America and Japan.
European Stocks Seen Little Changed After Rally
Wed, 23 Apr 2014 06:26:36 GMT - European stocks are seen opening flat to slightly higher on Wednesday as investors pause for breath following the previous session's rally. The upside momentum would be capped by Chinese data signaling sustained weakness in manufacturing.
Asian Markets Mostly Trade Higher
Wed, 23 Apr 2014 03:25:20 GMT - Asian stock markets are mostly trading higher on Wednesday, tracking cues from Wall Street where the major averages posted solid gains overnight on the back of some strong earnings reports and better than expected housing data.
China HSBC Manufacturing PMI Rises To 48.3
Wed, 23 Apr 2014 03:00:32 GMT - An index monitoring manufacturing activity in China posted a score of 48.3 in April, the latest survey from HSBC and Markit Economics revealed on Wednesday. That was in line with forecasts and up from 48.0 in March - although the index remains below the boom-or-bust score of 50 that separates expansion in a sector from contraction. The manufacturing output index saw a score of 48.0 in April.
Yum! Brands Profit Rises 18% On Strong China Sales
Tue, 22 Apr 2014 22:42:25 GMT - Restaurant operator Yum! Brands Inc. said Tuesday after the markets closed that its first quarter profit rose 18% from last year, helped by strong performance of its China division. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast.
VMware Q1 Profit Rises, Beats Street - Update
Tue, 22 Apr 2014 22:20:27 GMT - Virtualization software maker VMware Inc. (VMW), Tuesday reported an increase in profit for the first quarter, driven by a 14 percent growth in revenues. Both earnings and revenues for the quarter came in ahead of Wall Street estimates.
Discover Financial Profit Falls
Tue, 22 Apr 2014 22:15:41 GMT - Credit card lender Discover Financial Services reported a decline in first-quarter profit, hurt mainly by loan-loss provisions, while revenues climbed as more customers used its cards for payments. However, earnings for the quarter topped Wall Street estimates, while revenue fell short of expectations.
AT&T Q1 Profit Slips, But Tops View; Revenues Up
Tue, 22 Apr 2014 21:47:42 GMT - AT&T Inc. (T) Tuesday reported a drop in profit for the first quarter, hurt largely by higher operating costs and income tax expenses. Nonetheless, the telecom giant's revenues grew driven mostly by subscriber additions. Both earnings and revenues for the quarter came in ahead of analysts' estimates.
Juniper Profit Rises 22%
Tue, 22 Apr 2014 21:33:01 GMT - Computer networking gear maker Juniper Networks Inc. (JNPR) said Tuesday after the markets closed that its first quarter profit rose 22% from last year, helped by higher revenue and a hefty gain from the sale of minority equity investments.
Amgen Profit Falls 25%
Tue, 22 Apr 2014 21:13:23 GMT - Amgen reported a 25 percent decline in first-quarter profit, hurt mostly by tax and other expenses that offset a seven percent growth in revenues, with results falling short of Wall Street estimates.
M&A, Earnings News Leads To Continued Strength On Wall Street - U.S. Commentary
Tue, 22 Apr 2014 20:22:39 GMT - After trending higher over the past several sessions, stocks saw some further upside during trading on Tuesday. A positive reaction to the latest corporate news contributed to the continued buying interest, lifting the Dow and the S&P 500 back near their record highs.
Supreme Court Upholds Michigan's Ban On Affirmative Action
Tue, 22 Apr 2014 19:39:25 GMT - In a blow to supporters of affirmative action, the Supreme Court on Tuesday upheld a voter-approved ban on using race as a factor in college admissions at Michigan's state-run universities. The court ruled 6 to 2 that the state law banning the use of racial preferences does not violate the U.S. Constitution, although the court was splintered on the reasoning for the decision.
Crude Oil Ends Sharply Lower Ahead Of Supply Data
Tue, 22 Apr 2014 18:49:03 GMT - U.S. crude oil snapped a three-day gain to end at a two-week low on Tuesday, ahead of the weekly oil report from the Energy Information Administration with investors anticipating a notable surge in U.S. stockpiles. The slump comes amid market volatility as May contracts expires at end of session today.


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