На главную
Видео добавленное пользователем “Projection”
Heinz and Kraft to merge in Warren Buffett mega deal
Global food companies Heinz and Kraft will join forces to become the world’s fifth largest food and beverage company following the two companies entering into a definitive agreement. The deal was brokered by Warren Buffett’s Berkshire Hathaway and Brazilian investment company 3G Capital, and will result in Heinz buying Kraft for a reported $US 46 billion dollars. Kraft shareholders will receive 49 per cent of the stock in the combined entity, plus a special cash dividend of $US16.50 a share. Berkshire and 3G will invest an additional 10 billion dollars to pay the dividend to Kraft shareholders and will retain 51 percent of the combined company. The combined business, to be called the Kraft Heinz Co, will have dual headquarters in Pittsburgh and the Chicago area, with current Heinz chief executive officer Bernardo Hees staying on to run the new company. The combination of Heinz and Kraft will bring together a wide portfolio of well-known brands and benefit from Heinz's international distribution platform. Shoppers aren’t expected to see any major changes following the creation of the Kraft Heinz Company, although the move does reflect the pressures facing some of the biggest packaged food makers in the U.S. Consumers are increasingly migrating away from longtime pantry staples in favour of healthier alternatives. The new company will have eight billion-dollar brands and five others worth more than 500 million in sales, while total annual revenue is expected to be about 28 billion dollars. Following the completion of the deal Kraft will undergo a significant cost-cutting program, in addition to the expected savings of $1.5 billion dollars by combining manufacturing and distribution networks. The boards of both companies have unanimously endorsed the deal, although it still needs approval from federal regulators and shareholders of Kraft Foods. The deal is expected to close in the second half of 2015, and if completed would return Heinz to public company status after Berkshire and 3G took it private in 2013 in a 28 billion dollar acquisition.
Просмотров: 1359 Projection
FedEx Delivers Pretty Package to TNT Shareholders - Apr 10, 2015
FedEx Corporation announced plans to buy Dutch package delivery company TNT Express for an agreed 4.4 billion euros, stepping up the challenge to rivals United Parcel Service and Deutsche Post in Europe. European regulators blocked a 2013 takeover of TNT by UPS due to concerns it would stifle competition. TNT gives FedEx access to pan-European service and the domestic UK and French markets, while TNT customers will get access to FedEx's global distribution platform. Combining FedEx’s 5 percent European market share with TNT’s 12 percent, would catapult FedEx into second place, overtaking UPS which currently holds 16 percent market share. FedEx will offer 8 euros in cash per ordinary TNT share, which even though is a 33 percent premium to TNT’s previous closing price, is still below UPS's 2013 offer of 9 ½ euros. The Tennessee based company is the latest in a long list of companies to take advantage of the current low interest rate environment and finance a deal entirely with debt. The deal has been unanimously recommended by TNT's supervisory board, with TNT's largest shareholder, PostNL also saying it would tender its 14.7 percent stake to FedEx. TNT warned in February it expected tough trading to continue in its main western European markets, in what capped off a disappointing 12 months for the company with the share price dropping 17 percent, against a 21 percent rise in the benchmark index. FedEx said the strong US dollar contributed to perfect timing on its bid, with the Euro down more than a fifth against the greenback in the past year. U.S. companies have announced 195 ½ billion dollars in acquisitions of Western European companies in the past 12 months, more than twice the value of a year earlier. The last two quarters of 2014 were two of the three busiest by value in more than seven years. Unlike the UPS bid back in 2013, FedEx is unlikely to be blocked by European regulators.
Просмотров: 3156 Projection
Towers Watson and Willis to merge, Santander expands
Towers Watson announced it will merge with global risk advisory and reinsurance firm Willis Group, creating a new entity valued at US $18bn - plus Spanish bank Santander has partnered with mobile banking software provider Monitise to launch a financial technology joint venture
Просмотров: 618 Projection
Hep C Drug Sales Boost Gilead Earnings - Mar 10, 2015
Gilead Sciences posted strong quarterly sales of its hepatitis C drugs Harvoni and Sovaldi, pushing the drugmaker's net profit up more than four-fold for the quarter. The company reported quarterly net income of 3.49 billion dollars or $2.18 per share, compared with 791 million or 47 cents per share a year earlier. Excluding one-time items, Gilead earned $2.43 per share, beating the average Wall Street estimate of $2.22 per share. Sales of Sovaldi, the $1,000 dollar pill for hepatitis C which ignited a fierce debate over prescription drug prices, totaled 1.73 billion for the quarter, while sales of follow-on drug Harvoni totaled 2.11 billion. Analysts, on average, had forecast Sovaldi sales of 2.05 billion and Harvoni sales of 1.58 billion. For full-year 2015, Gilead projected total product sales between 26 and 27 billion, falling short of the average Wall Street estimate of 28.6 billion.
Просмотров: 606 Projection
McDonald's unveil turnaround blueprint
McDonald's CEO Steve Easterbrook announced a restructuring plan to help it compete with fast-casual restaurants like Chipotle Mexican Grill. To foster a quicker reaction to changing trends, McDonald’s is restructuring its units into four groups based on the maturity of its presence in the particular market, where previously the business was segmented by geography. The individual groups will be the flagship U.S. market, established international markets such as Australia and the United Kingdom, high-growth markets such as China and Russia, and the rest of the world. McDonalds also said that 90 percent of its more than 36,200 restaurants around the world will be franchised over the next four years. This is up from 81 percent currently, and will mean the company will rely more heavily on franchising fees and move away from the daily running of restaurants. The organizational changes will contribute to 300 million dollars in cost-cutting targeted by McDonald's, most of which will be realized by 2017. The company is working on streamlining its menu recently cutting seven items including the Deluxe Quarter Pounder burger and six chicken sandwiches, while at the same time working on improving perceptions about the quality of its food with a trio of new sirloin burgers being added. Standard and Poors were left underwhelmed by the plan and subsequently downgraded their rating on McDonalds to A-, while Moody’s put their rating on review for downgrade. Both rating agencies showed concern over McDonald's plans to return between 8 and 9 billion to shareholders in 2015 and to hit the high end of its 18 to 20 billion 3-year goal by the end of 2016, worrying that any stock repurchases will be at the expense of higher debt levels than initially anticipated. The fast food chain in April reported first-quarter comparable sales down 2.3% and revenue of 5.96 billion, falling short of the 6.02 billion analysts had expected. Unfortunately for McDonalds shareholders, the quarterly results were a familiar tale, which for nearly two years has seen its share price fall and same-store sales crumble in the U.S. market and abroad.
Просмотров: 1216 Projection
Virgin Money IPO - Sep 30, 2014
Virgin Money, the banking arm of Sir Richard Branson's empire, is said to be preparing to announce plans this week for its £2bn London IPO, making it the fourth bank this year to capitalise on solid demand for fresh shares. The financial services firm, which is 47pc-owned by Sir Richard, was expected to float at a £2bn valuation next year, but according to reports its directors have been tempted to bring the date forward following a strong earnings report and a Scottish “no” vote. The flotation of Virgin Money, which bought the “good” assets of the bailed-out Northern Rock for almost £800m in 2012, will see an extra £50m to £80m returned to the taxpayer, as agreed at the time of the original acquisition. Wilbur Ross, the American investor who holds a 45pc share, and an Abu Dhabi fund that owns 6pc also stand to profit from the flotation, although neither are expected to sell their entire holdings. Virgin Money’s pre-tax profits grew more-than-fourfold to £59.7m in the first half of this year, on 28pc-increased revenues of £210m.
Просмотров: 111 Projection
Amex to Cut Jobs - Jan 28, 2015
American Express said it plans to cut more than 4,000 jobs over the next year, although the company will also continue to hire selectively in parts of the organization. At the same time the financial giant reported quarterly earnings that slightly beat analysts' expectations mainly due to tight cost controls benefiting the company. The firm posted fourth-quarter earnings per share of $1.39, compared with $1.21 a share in the year-earlier period. Revenue for the quarter came in at $9.1 billion dollars, against the comparable year-ago figure of $8.5 billion. Analysts had expected American Express to report earnings of about $1.38 a share on $8.53 billion in revenue. Amex said fourth-quarter card member spending rose 6 percent, and also revealed that volumes for the year crossed the trillion-dollar mark for the first time. The credit card issuer's revenue was also helped by a $453 million dollar post-tax gain from the sale of its investment in Concur Technologies.
Просмотров: 268 Projection
ASML Results Exceed Expectations - Jan 27, 2015
ASML Holdings, the world's largest maker of semiconductor production equipment, reported better than expected results on the back of stronger-than-expected demand from memory chip makers. The Netherlands-based company whose rivals include Applied Materials and Nikon, reported fourth-quarter net income of 305 million euros on sales of 1.49 billion, beating expectations of 221 million and 1.31 billion respectively. The group also said it would raise its dividend 15 percent and launched a new 1 billion euro share buyback, extending a programme which has already run for several years. ASML makes lithography machines, which use highly focused beams of light to trace out the circuitry of computer chips and is a key supplier to the world's biggest chipmakers including Samsung and Intel. The company’s order backlog has increased to 2.8 billion euros from 2.41 billion in the previous quarter.
Просмотров: 84 Projection
McDonald's Earnings Disappoint - Jan 30, 2015
McDonalds reported quarterly earnings and revenue that fell short of analysts' expectations but last month's sales showed improvement and topped Wall Street's estimates.` The company's net income fell to 1.1 billion dollars or $1.13 per share, in the fourth quarter ended December 31 from 1.40 billion or $1.40 per share, a year earlier. Revenue decreased to 6.57 billion from 7.09 billion a year ago. Wall Street had forecast McDonald's would report earnings of $1.22 a share on 6.68 billion in revenue. U.S. same-store sales were off 1.7 percent in the quarter but turned positive to a rise of 4 tenths of a percent in December, exceeding the 8 tenths of a percent drop analysts had expected. The fast-food giant said comparable-store sales fell 0.9 percent in the fourth-quarter, and added that it expects same-store sales to be negative in Janu
Просмотров: 60 Projection
Tesla Increases Warranty On Model S - Aug 19, 2014
The warranty extension will apply retroactively to all Model S cars produced since 2012 and will have a moderately negative impact on its earnings in the short term. Many current conventional gasoline-powered cars have a standard three-year/36,000-mile warranty. Last year Consumer Reports magazine gave the Model S top marks for its "smoothness, effortless glide and clever, elegant simplicity” although last week the magazine criticized the Model S for having a number of problems including a variety of electrical issues. Tesla shares continue to trade around record highs.
Просмотров: 50 Projection
SEC Pays Whistleblower $30M - Sep 24, 2014
An anonymous tipster living abroad will be receiving $30 million dollars, in the largest whistleblower award ever paid out by U.S. securities regulators as part of a program that aims to incentivize insiders to report wrongdoing. The Securities and Exchange Commission said that the whistleblower provided crucial information that helped investigators uncover a ``difficult to detect'' ongoing fraud. The SEC won new powers in the 2010 Dodd-Frank Wall Street reform law to entice whistleblowers with monetary awards. Prior to the new law, the SEC was only able to reward people for helping on insider-trading cases. The new program lets the SEC pay a whistleblower who provides original information that leads to an enforcement action with sanctions that exceed $1 million dollars. The SEC can award a whistleblower anywhere between 10 and 30 percent of the money the agency collects. Since the inception of the program in fiscal year 2012, the SEC has awarded more than a dozen whistleblowers with the recent $30 million dollar award being more than double the previous record of 14 million.
Просмотров: 87 Projection
Time Warner Cable Earnings Disappoint - Nov 17, 2014
Time Warner Cable, the second-largest U.S. cable company, reported it lost more residential video customers in the third quarter than in the previous quarter. The company's third-quarter earnings rose to $1.86 per share from $1.69 a share in the year-earlier period, while revenue increased to 5.71 billion dollars from 5.52 billion a year ago. Analysts had expected the cable company to post earnings of $1.90 a share on revenue of 5.75 billion. Time Warner Cable lost 184,000 residential video customers in the quarter, significantly more than the 136,000 customers that market research firm StreetAccount had estimated. The company announced in early October that its stockholders had approved a deal for the firm to become a 100 percent owned subsidiary of Comcast, with the $45 billion dollar merger currently under regulatory review. In late August, TWC settled with the Federal Communications Commission for $1.1 million dollars on charges the company had not reported multiple network outages.
Просмотров: 10 Projection
Aetna to acquire Humana in $37B deal
Health care-insurance company Aetna announced a 37 billion dollar agreement to acquire smaller rival Humana in further consolidation in the U.S. health care industry
Просмотров: 30 Projection
Ruby Tuesday Earnings Disappoint - Jan 15, 2015
Ruby Tuesday reported disappointing second-quarter results, with losses being wider than expected, revenues coming in below forecasts and the company lowering its guidance for fiscal 2015. This restaurateur posted a loss of 15 cents per share, marginally wider than the analyst estimates for a loss of 14 cents, but substantially narrower than the year-ago loss of 34 cents. Total revenue was 262.7 million dollars missing, the Consensus estimate of 268 million and declining 4.9% year on year. The company has closed 42 underperforming restaurants since first-quarter 2014. Same-restaurant sales were down 1% at company-owned restaurants, worse than the 1.1% growth in the prior quarter and also failing to live up to management's expectation of a 1% to 2% increase. Restaurant margins came in at 13.6%, up 110 basis points year on year, mainly due to brand transformation efforts. Selling, general and administrative expenses, as a percentage of revenues, declined 300 basis points to 10.4% given lower marketing expenses incurred in the quarter.
Просмотров: 58 Projection
Colgate Total Potentially Dangerous - Aug 14, 2014
The chemical triclosan, which is one of the ingredients in Colgate Total toothpaste, has been linked to cancer-cell growth and disrupted development in animals
Просмотров: 643 Projection
Panera Bread Slices Full Year Earnings Forecast - Nov 13, 2014
Panera Bread lowered its full-year earnings forecast as it works to speed up service at its popular bakery cafes. The company cut its 2014 earnings-per-share forecast to a range of $6.60 to $6.70 from between $6.65 and $6.80 previously. Panera said it expects 2014 operating margins to be down 200 to 225 basis points from last year, due to higher costs for ingredients such as butter and other dairy products, as well as investments in projects aimed at speeding up customer service. Third-quarter net income fell more than 8 percent, to 39.2 million dollars or $1.46 per share. Sales at company-owned bakery cafes open at least 18 months rose 2.1 percent in the latest quarter, marginally better than the 1.7 percent increase analysts had expected. For the first 27 days of the current fourth quarter, those sales were up 3.3 percent. The chain had an impressive run of increasing restaurant sales, until last fall when it reported experiencing “operational friction” that limited its ability to squeeze more sales from existing units.
Просмотров: 829 Projection
Dunkin' Brands Slashes 2015 Forecast - Dec 23, 2014
Dunkin’ Brands, owner of the Dunkin’ Donuts and Baskin-Robbins chains, cut its 2015 forecast for comparable store sales growth in the United States and operating income growth, citing slowing sales of packaged coffee in its restaurants. Its joint ventures in South Korea and Japan also are under pressure. The company said it now expected U.S. same store sales growth of 1 to 3 percent, down from its previous forecast of 2 to 4 percent. It also cut its forecast for adjusted operating income growth to 6 to 8 percent from 10 to 12 percent. The company forecast adjusted earnings of between $1.75 and $1.76 per share, where analysts on average were expecting earnings of $2.02. The company reported that low gas prices have driven optimism in 4Q, it’s clear not all restaurants are participating in the broader growth. Dunkin' shares are down 13 ½ percent so far in 2014.
Просмотров: 61 Projection
Becton Dickinson To Acquire CareFusion - Oct 7, 2014
Medical technology firm, Becton Dickinson has announced that it will acquire CareFusion Corporation in a $12.2 billion dollar deal designed to provide a full range of medical products to hospitals, which are under pressure to cut costs and improve quality. New Jersey based Becton will pay $58 in cash and stock for each share of CareFusion, a 26% premium to their previous closing price. Combining BD and CareFusion will create one of the five largest medical device companies in the world, with a range of offerings for pharmacies and hospitals. Becton has about $8.3 billion dollars in annual sales, while CareFusion notches about $3.8 billion and the two companies currently have a combined market capitalization of nearly $32 billion. Becton said it has identified $250 million dollars in synergies from the merger and expects the deal to begin adding to earnings in fiscal year 2018. Under the terms of the offer, CareFusion shareholders will receive $49 in cash and 0.078 of a Becton share for each CareFusion share.
Просмотров: 2059 Projection
Dish Network CEO Joe Clayton to Step Down - Mar 23, 2015
Dish Network founder and Chairman Charlie Ergen will return to take charge of the company after current Chief Executive Joe Clayton announced he will retire on March 31. Dish also reported quarterly revenue that fell short of estimates as it lost more than 63,000 pay-TV subscribers in the fourth quarter ended December 31, almost double the number forecast by the market. The losses were partly due to the absence of channels from Twenty-First Century Fox from Dish's service, following a dispute between the two companies that was resolved in January. The 2014 churn rate, or user defections to other networks, was 1.59 percent, up slightly from 1.58 percent from a year earlier. Net income attributable to the company rose to 409.9 million or 88 cents per share, from 288 million or 63 cents per share, a year earlier. Revenue rose 4 percent to 3.68 billion, marginally below anaylsts expectations of 3.70 billion.
Просмотров: 65 Projection
Joy Global Quarterly Revenue Falls - Dec 19, 2014
Mining equipment maker Joy Global, which gets more than 60 percent of its revenue from coal miners, reported a 4 percent fall in quarterly revenue as customers cut production. The company, which warned of a 'challenging' first quarter, forecast profit below analysts' average estimate for its year ending October 2015. Prices of coal and iron ore have fallen to multi-year lows this year as supply has outpaced demand. The European coal futures have recently fallen to their lowest level in more than seven years. Coal prices are at five-year lows and the International Energy Agency has forecast global coal demand slowing over the next five years. Joy Global forecast a profit between $3.10 and $3.50 per share for 2015, below the average analyst estimate of $3.57. The company said it expected revenue between 3.6 and 3.8 billion dollars, below the market estimate of 3.79 billion. Net income rose to 136.9 million dollars or $1.38 per share, from 26.8 million or 25 cents per share, a year earlier. Excluding items, the company earned $1.25 per share, where analysts on average had expected a profit of $1.15 per share.
Просмотров: 47 Projection
Bean Bag Chairs to be Recalled After Deaths - Aug 26, 2014
About 2.2 million bean bag chairs are being recalled after two children opened them, crawled inside and suffocated to death. The U.S. Consumer Product Safety Commission said on Friday that the zippers on the chairs, which are made by Ace Bayou, can open. A 13-year-old boy from McKinney, Texas and a 3-year-old girl from Lexington, Kentucky were found dead inside the chairs after they suffocated from a lack of air and inhaled the foam beads stuffed in the chairs. The chairs were sold at Bon-Ton, Meijer, Pamida, School Specialty, Wayfair and Walmart stores and online at Amazon.com, Meijer.com and Walmart.com. The CPSC advised owners of the bean bag chairs to check if the zippers open and take them away from children if they do. Ace Bayou is offering customers a free repair kit that will stop the zippers from opening, which can be ordered online at acebayou.com
Просмотров: 810 Projection
Las Vegas Sands Earnings Exceeds Forecasts - Feb 17, 2015
Las Vegas Sands reported higher fourth-quarter net income of 721.3 million dollars and annual profit of 2.84 billion. On a per-share basis, the Las Vegas-based company earned 90 cents, while earnings adjusted for non-recurring costs came to 92 cents per share. The results topped Wall Street expectations, where the average estimate of analysts was for earnings of 81 cents per share. The casino operator posted revenue of 3.42 billion in the period, which fell short of Wall Street forecasts, where analysts had expected 3.55 billion. For the year, the company earned 2.84 billion or $3.52 per share, while revenue rose to 14.58 billion. In Las Vegas, The Venetian and The Palazzo resorts saw their casino, hotel room and restaurant revenue all drop in the fourth quarter leading to EBIDTA of 78 million versus 88 million a year ago. Its Sands Bethlehem property in Pennsylvania, though, had a positive fourth quarter in every category.
Просмотров: 315 Projection
Chipotle Revenue Jumps - Mar 3, 2015
Chipotle Mexican Grill’s announced that comparable restaurant sales and revenue jumped but still failed to meet Wall Street's high expectations. A previous nationwide price increase that rolled out during the second quarter helped fuel the burrito maker's sales. Its same store sales decelerated during the fourth quarter and rose 16.1 percent, while analysts were expecting them to surge 16.5 percent. Net income rose to 121.2 million or $3.84 per share, compared to 79.6 million or $2.53 per diluted share. Its store openings and price increase fueled a 27 percent rise in revenue to 1.07 billion from 844 million a year ago. Wall Street had forecast Chipotle would deliver earnings per share of $3.79 on revenue of 1.08 billion. During 2015, Chipotle expects low to mid-single digit comparable restaurant sales increases and also plans to open between 190 and 205 new restaurants, adding to its current 1,780 locations.
Просмотров: 30 Projection
Ford earnings crash and burn
Ford Motors delivered quarterly earnings and revenue that fell short of analysts' expectations, as it sold fewer vehicles in North America due to the rollout of the F-150 pickup truck. It also continued to lose money in South America and Europe.
Просмотров: 3 Projection
CostCo Earnings Beat Expectations, Revenue Disappoints - Mar 30, 2015
CostCo, the third largest US retailer, reported a better-than-expected quarterly profit, helped by a tax benefit related to its special cash dividend last month. Revenue fell below forecasts, but sales at comparable stores excluding fuel sales rose 8 percent. Costco said net income rose to 598million or $1.35 per share for the second quarter ended February 15, from 463 million or $1.05 per share a year earlier. Excluding one-time items, the company posted earnings of $1.25 a share. Total revenue, which includes membership fees, rose 4.4 percent in the quarter to 27.45 billion, while sales rose 4.3 percent 26.87 billion. Analysts on average expected a profit of $1.18 per share on sales of 27.65 billion. Costco said its results include a tax benefit of 57 million dollars or 13 cents per share, in connection with the special cash dividend. Comparable sales at outlets open more than 12 months grew 8 percent in the second quarter, excluding fuel, where analysts had expected same-store sales to increase 6.4 percent.
Просмотров: 48 Projection
Alibaba Has New Competitor - Jan 7, 2015
Alibaba’s stranglehold on China’s enormous e-commerce market is under fire from rival Wanda E-commerce. Plans for Wanda E-commerce were announced just four months ago, but the venture has already caught the attention -- and dollars -- of two investment funds. Wanda's platform raised 1 billion yuan in funding from Chinese investment funds Centec Networks and Xude Rendao and this is comes before its business model is even "fully operational," which the company expects to happen by the fourth quarter of 2015. The investment quadruples Wanda's value to an estimated 20 billion yuan. Wanda E-commerce -- which aims to leverage WiFi and smartphone capabilities to help shoppers locate and buy products nearby -- is a joint venture between three parties: Majority stakeholder real estate conglomerate Dalian Wanda Group, telecommunications company Tencent and search engine Baidu. Wanda Group already has an offline customer base of 1.5 million people and last month, it acquired a stake in online payment platform, 99Bill.
Просмотров: 148 Projection
Boeing Increases Dividend and Share Buyback - Dec 18, 2014
Boeing raised its share repurchase authorization to 12 billion dollars from 10 billion and said it would increase its quarterly dividend by 25 percent, in a sign of confidence in its cash outlook for the year. The world's biggest plane maker had $4.8 billion remaining in its previous stock buyback plan and raised the dividend to 91 cents per share from 73 cents. Boeing shareholders have been looking for the company to deliver cash as it ramps up delivery of planes to record levels. In October, Boeing reported an 18 percent rise in third-quarter profit, but its cash generation lagged below expectations, putting a question mark over its ability to meet its forecast for the year. Boeing had promised that cash flow would be "very strong" in the fourth quarter, with the share buyback and dividend increase signalling it was confident of hitting its targets. Boeing also said had finished its stock repurchases for 2014, having spent $6 billion, and plans to resume in January. It added that it expected the purchases under the current plan to take two to three years.
Просмотров: 58 Projection
Groupon Easily Beats Earnings Expectations - Mar 20, 2015
Citing the unfavorable impacts of foreign exchange rates, Groupon said it expects revenue of between 790 and 840 million, below forecasts of 856 million. The company also announced a disappointing profit outlook, saying that it now expects earnings in a range from break even up to 2 cents per share, while analysts currently expect earnings of 2 cents per share. Groupon posted fourth-quarter profit of 6 cents per share, up from 4 cents a share a year earlier, while revenue increased 20 percent to 925 million from 768 million. Analysts had expected the company to report earnings of 3 cents a share on 908 million in revenue. Last quarter, the company said that worldwide gross billings, or the total dollar value of customer purchases through the site, increased 39 percent year on year.
Просмотров: 113 Projection
Medtronic Earnings In Line With Forecasts - Dec 3, 2014
Medtronic posted a quarterly profit that was in line with analyst expectations, helped by sales of new heart devices, and said its 42.9 billion dollar purchase of hospital products maker Covidien, remains on track to close early next year. Changes in U.S. tax rules aimed at curbing a spate of so-called tax inversion acquisitions have caused investors to question whether the deal would proceed after companies such as drugmaker AbbVie and Irish competitor Shire dropped plans to merge. The largest stand-alone medical device maker said its second-quarter net earnings fell to 828 million dollars or 83 cents a share, from 902 million or 89 cents, the year before. Excluding costs for the Covidien acquisition and a charitable donation, Medtronic earned 96 cents a share, in line with the average analyst forecast. Revenue rose 4 percent to 4.37 billion dollars, boosted by new products including a miniature implantable diagnostic monitor for the heart called Reveal and the CoreValve replacement heart valve.
Просмотров: 36 Projection
Procter And Gamble To Shed Half Its Brands - Aug 4, 2014
Procter & Gamble, the nation's largest consumer product company, will be dumping about 90 of its smaller, less popular brands
Просмотров: 19 Projection
Dollar General impresses the market while CostCo disappoints
Subscribe on YouTube: https://www.youtube.com/channel/UCKokeh9OeNlcHd_5sMceMoA?view_as=public
Просмотров: 505 Projection
McDonald's China in Meat Scandal - July 30, 2014
A meat scandal at a U.S. owned supplier has wiped favorite items from McDonald's menus across China
Просмотров: 45 Projection
Tencent Earnings Miss - Dec 1, 2014
Tencent Holdings, China's biggest social network and gaming firm, missed third-quarter net income forecasts as revenues grew at their slowest rate in seven years and sales from its mobile gaming business dropped off. Mobile gaming sales, the biggest driver of revenue growth in the previous quarter, fell to 2.6 billion yuan in the three months ended September from 3 billion in the second quarter. Net income rose 46.4 percent to 5.66 billion yuan in the third quarter, well below estimates of 6.173 billion yuan. Revenues were up 27.5 percent to 19.81 billion yuan, versus forecasts of 20.57 billion. Global monthly active users of Tencent's WeChat, China's biggest mobile app, rose 6.8 percent from the previous quarter to 468 million monthly active users, its slowest rate of quarterly growth since Tencent started releasing figures. Tencent's results were worse than management had forecast, confirming investor worries that cooling sales from mobile gaming would be a drag on the $154-billion company's results.
Просмотров: 13 Projection
Halliburton Earnings Beat Street - Oct 23, 2014
Halliburton, the world's No.2 oilfield services provider, reported a better-than-expected quarterly profit, helped by buoyant shale drilling activity in North America. Halliburton, which derives about half of its revenue from North America, also benefited from higher revenue in its international operations. The company said revenue in North America grew nearly 22 percent in the third quarter ended September 30, while operating income climbed 38 percent. Halliburton's revenue rose about 18 percent in the Middle East and Asia region, 9% in Europe and Africa and 4% in Latin America. Net income rose to $1.20 billion, or $1.42 per share, from $706 million, or 79 cents per share, a year earlier. Excluding items, profit from continuing operations was $1.19 per share, higher than the average analyst estimate of $1.10 per share. Revenue rose 16 percent to $8.70 billion, beating the average analyst estimate of $8.53 billion.
Просмотров: 75 Projection
El Pollo Loco Quarterly Earnings - Sep 8, 2014
Quick service restaurant chain El Pollo Loco - which sells itself as serving real food at reasonable prices, reported quarterly earnings that were in line with analysts' expectations, boosted by a 6 percent increase in revenue. The company posted second-quarter adjusted earnings of 16 cents per share on 87 million dollars in revenue, up from 82 million dollars a year ago. System-wide comparable store sales rose 5.4 percent during the quarter. At company-operated stores, comparable store sales increased 5 percent, driven by a nearly 3 percent increase in average check size and a 2 percent increase in customer traffic. Analysts had expected El Pollo Loco to report adjusted earnings of 16 cents a share on 86 million dollars in revenue. This is the restaurant chain’s first quarterly report as a public company, with the shares more than doubling since its debut. Net income rose to 6.6 million dollars or 21 cents per share, versus $410,000 or a penny per share, in the year earlier period.
Просмотров: 216 Projection
GAP Revenue Rises in Late 2014 - Jan 16, 2015
GAP reported a key revenue metric rise of 3 percent for the November and December period, as surging sales at its low-priced Old Navy chain offset lethargic business at its namesake stores. For December alone, the figure rose 1 percent, above the Wall Street estimate for a 70 basis point increase. Finally some good news for the company, which hit a rocky patch this year after enjoying a turnaround since early 2012. In November, the retailer announced leadership changes at its GAP and Banana Republic brands. The moves were spearheaded by Art Peck as he takes on the role of CEO of Gap in February, succeeding Glenn Murphy who has been at the helm since 2007. The clothing giant reported that total sales for December rose 2 percent to 2.1 billion from 2.05 billion in the year-ago period. GAP’s revenue at stores opened at least a year, was down 5 percent in December, while Banana Republic's sales were unchanged from a year ago, and Old Navy's revenue rose 8 percent.
Просмотров: 36 Projection
Chinese Gamblers Heading to Vegas - Sep 18, 2014
China’s high-spending gamblers are looking to bet outside Macau amid a government assault on corruption and extravagance, and that’s boosting casinos from the Philippines to the Las Vegas Strip. Visitors from China are lifting gambling growth in Las Vegas while casinos in Melbourne and Manila are fighting over Chinese VIPs. That’s while Macau, the one place in China where casinos are legal, has suffered three straight months of declining gambling revenue as the anti-graft crackdown shows no signs of abating. MGM Resorts and Wynn Resorts both posted recent results that beat analyst estimates. Las Vegas casinos revenue has gained 3.7 percent to $3.7 billion dollars in the 12 months to the end of July, driven mainly by a 14.4 percent jump in baccarat revenue. Macau remains the world’s biggest gambling hub despite the recent declines, generating $45.2 billion of casino revenue for the city in 2013, seven times more than the Las Vegas Strip and dwarfing the $36.5 billion for the U.S. as a whole.
Просмотров: 2788 Projection
Costco Income Beats Expectations - Oct 10, 2014
Costco reported fiscal fourth-quarter net income of $697 million dollars. On a per-share basis, the company said it had net income of $1.58 a share. The results came in above Wall Street expectations where analysts had estimated earnings of $1.52 per share. The operator posted revenue of $35.52 billion dollars in the period, also exceeding analyst expectations of $35.37 billion. Once the home of cheap hot dogs and unreasonably large buckets of mayonnaise, Costco has found a new niche of fresh food and along with it, fresh customers. The company said sales of fruits, vegetables, and other perishables increased in “the high single digits” and overall, it reported profit growth of 13 percent, making this its best quarter since May 2013. Buoyed by 2 million new shoppers, Costco’s membership revenue was up 7.3 percent in the quarter and for the year ended August 31, Costco collected $2.4 billion dollars in membership fees.
Просмотров: 19 Projection
Cablevision and Comcast lose video subscribers in the first quarter
Cablevision Subscribers reported that video subscriber losses in the first quarter doubled from a year ago, as the cable TV company's customers continued to shift to lower-priced bundled services from telecom carriers. A different story at Comcast, with the company delivering quarterly earnings and revenue that beat analysts' expectations. Net income rose 10 percent to 2.1 billion, or 81 cents per share from a year earlier, with adjusted earnings per share coming in at 79 cents, beating the 74 cents forecast by the market.
Просмотров: 19 Projection
McDonald's Revamping Image - Jan 5, 2015
After a tumultuous 2014, McDonalds is bringing in the new year with another push in its effort to revamp its image and relationship with customers. As part of the new look, McDonald's will debut new packaging, signage and uniforms for workers, in what the company is calling a change from a philosophy of billions served to billions heard. The company is already in the process of rolling out a number of changes to cater to consumer trends as it seeks to turn around its struggling U.S. unit. Domestic comparable sales plunged 4.6 percent in November, and executives have pledged to fix the business through a string of initiatives aimed at increasing its relevance to today's consumers. One of these is the Create Your Taste platform, which will enable customers to build their own burgers, that the chain is currently rolling out to U.S. locations. McDonald's is also continuing to boost transparency about the quality of its food through its Our Food, Your Questions campaign, which has answered more than 20,000 questions about its food.
Просмотров: 161 Projection
Archer Daniels Midland Revenue Disappoints - Feb 27, 2015
U.S. agribusiness Archer Daniels Midland reported higher quarterly earnings as a record-large U.S. harvest boosted grain volumes and supported strong exports, although revenue fell short of expectations. Earnings in agricultural services, ADM's biggest business segment in terms of revenue, grew on the back of U.S. corn and soybean crops. ADM reported net earnings of 701 million dollars or $1.08 per share, in the quarter ended December 31, up from 374 million or 56 cents a share, a year earlier. Excluding special items such as charges related to ADM's purchase of flavorings company Wild Flavors, earnings were $1.00 per share, up from 95 cents a year earlier and above the analysts' average estimate of 94 cents. Revenue fell to 20.89 billion from 24.14 billion, missing the consensus expectation of 23.85 billion. The company warned of headwinds from deteriorating ethanol margins in 2015.
Просмотров: 184 Projection
Burberry Issues Earnings Warning - Jan 20, 2015
British luxury brand Burberry warned the market that a fall in sales in the key market of Hong Kong in the last quarter of 2014, could impact its full-year margin. Pro-democracy protests began choking parts of the Asian financial center in late September, disrupting business in one of the world's top markets for luxury companies, which accounts for about 9.7 billion dollars of global luxury sales, roughly 4 percent of the total. Known for its raincoats with camel, red and black-check patterned linings, Burberry said retail sales rose 14 percent to 604 million pounds in the third quarter, with comparable growth of 8 percent, steady on the previous quarter. Burberry said Asia-Pacific delivered low single-digit percentage growth compared to double-digit growth in the previous six months, as sales in the high-margin market of Hong Kong fell slightly even though mainland China and Korea grew by a mid to high single digit percentage.
Просмотров: 25 Projection
Clorox Earnings Beat Expectations - Nov 19, 2014
U.S. cleaning products maker Clorox reported better-than-expected quarterly sales and adjusted profit, helped by strong demand for its household products and price increases in international markets. The maker of Pine-Sol cleaners and Poett home care products, which had missed analyst estimates in the past four quarters, also reaffirmed its profit outlook for the year ending June. Net income from continuing operations rose to $145 million dollars or $1.10 per share in the first quarter ended September 30, from $139 million or $1.05 per share, a year earlier. Total sales rose 0.7 percent to $1.35 billion. While revenue from household products increased 5.4 percent to $392 million, sales of cleaning products, Clorox's largest business, fell 1.9 percent to $470 million. Analysts on average had expected a profit of $1.03 per share, on revenue of $1.33 billion. Clorox said it continued to expect full-year earnings of between $4.35 and $4.50 per share.
Просмотров: 23 Projection
Discovery Communications Earnings - Nov 24, 2014
Discovery Communications reported third-quarter net income of 280 million dollars or 41c per share. After adjusting for amortization costs, earnings came in at an improved 46 cents per share. The results surpassed Wall Street expectations, where the average analyst estimate was for earnings of 41 cents per share. The operator of cable TV channels such as TLC and Animal Planet posted revenue of 1.57 billion dollars in the period, falling short of Street forecasts, as analysts had expected revenue of 1.59 billion. Discovery expects full-year revenue in the range of 6.3 to 6.35 billion dollars. Discovery shares have dropped 61 percent since the beginning of the year, severely underperforming the S&P500 index, which has increased around 9 percent. Discovery is currently weighing up whether to move ahead with a bid for Australia’s Ten Network, in what would be a joint offer with pay TV operator Foxtel.
Просмотров: 37 Projection
Olam International Makes Cocoa Purchase - Dec 17, 2014
Olam International, the commodity trader controlled by Singapore’s state investment firm, agreed to buy ’s cocoa business for 1.3 billion dollars to become a top-three processor of the bean. The deal, which is Olam’s biggest acquisition, draws a line under the company’s program last year of spending cuts and reducing debt in response to short-seller Muddy Waters’s questioning of its finances. It follows Olam’s smaller purchase of U.S. peanut sheller McCleskey Mills for 176 million dollars including debt, announced earlier this month. Demand for cocoa, the main ingredient in chocolate, has risen three times faster than population growth in the last 15 years. While the trader already has the world’s largest bean sourcing network, the addition of ADM’s unit will give Olam processing capacity, allowing it to sell directly to buyers including Nestle and Hershey.
Просмотров: 1256 Projection
Northrop Grumman Earnings Beat Expectations - Feb 18, 2015
Northrop Grumman reported fourth-quarter earnings of 506 million dollars. On a per-share basis, the Virginia-based company said it had profit of $2.48, while earnings, adjusted for non-recurring gains, came in lower at $2.26 per share. The results topped Wall Street expectations, where the average estimate of analysts was for earnings of $2.22 per share. The defense contractor posted revenue of 6.11 billion dollars in the period, also topping Wall Street forecasts, as analysts had expected revenue of 5.99 billion. For the year, the company reported profit of 2.07 billion dollars or $9.75 per share, while revenue was reported as 23.98 billion. Northrop Grumman expects full-year earnings to be in the range of $9.20 to $9.50 per share, with revenue in the range of 23.4 to 23.8 billion.
Просмотров: 29 Projection
Pepsi Earnings Excite the Market - Mar 17, 2015
PepsiCo reported better-than-expected quarterly profit, helped by higher sales at its Frito-Lay snack business, and also announced that it would buy back shares worth up to 12 billion dollars. Pepsi also raised its annual dividend by 7.3 percent to $2.81 per share and said it expects to return between 8.5 and 9 billion dollars to shareholders through dividends and buybacks this year. The company’s net revenue for the fourth quarter ended December 27 fell about 1 percent to 19.95 billion dollars, hurt mainly by a stronger dollar. Net income attributable to the New York-based company fell to 1.31 billion dollars or 87 cents per share in the quarter, from 1.74 billion or $1.12 per share. Excluding items the company earned $1.12 per share, where analysts on average had expected profit of $1.08 per share on revenue of 19.66 billion.
Просмотров: 35 Projection
NBA New TV Deal - Oct 7, 2014
The NBA's impending television deal will be more lucrative than initially thought as the league is expected to announce a whopping nine-year, $24 billion dollar arrangement that will kick in before the 2016-17 season. The National Basketball Association has reportedly reached long-term media rights contracts with Walt Disney and Time Warner’s Turner Broadcasting. Disney is currently paying about $485 million dollars per year under its contract with the NBA while Turner is paying about $445 million. The price was expected to rise given the league's growing popularity, but previous estimates suggested the new contract would be worth close to $2 billion a season, but these new figures are closer to $3 billion. The league also plans to partner with ESPN for a new online video service that would show live regular season games. The service will be open to people who aren't ESPN's cable or satellite TV customers.
Просмотров: 28 Projection
Electrolux Buy GE For $3.3BN - Sep 9, 2014
Sweden's Electrolux announced that it had agreed to its biggest ever deal, buying General Electric appliances' business for 3.3 billion dollars. CEO of Electrolux, Keith McLoughlin said in a statement that GE's premium, high-quality appliances complement Electrolux’s own iconic brands and will enhance the company’s presence in North America. Electrolux, which sells under brands such as Frigidaire, AEG and Zanussi as well as its own name, is already the world's second-largest home appliance maker after Whirlpool, but has fallen behind its larger rival in the United States with Europe being its strongest market. Electrolux said the deal would be financed by a bridge facility and that it would undertake a rights issue corresponding to approximately 25 percent of the consideration following completion of the acquisition. The transaction is expected to generate annual cost synergies of around 300 million dollars and be earnings accretive from the first year.
Просмотров: 53 Projection
BlackRock Earnings Beat Expectations - Oct 17, 2014
New York based asset manager, BlackRock reported net income of $917 million dollars or $5.37 per share, up from $730 million or $4.21 per share a year earlier. The world's largest money manager posted earnings excluding items of $5.21 a share on revenue of $2.85 billion. Analysts had expected the firm to report earnings of $4.66 a share on revenue of $2.82 billion. The company said that its efforts to improve its fixed-income business are now showing results. BlackRock ended the quarter with $4.5 trillion dollars in assets under management. It had $28.7 billion in net inflows, up almost 4 percent from a year earlier. Third-quarter inflows were almost evenly split between equity and fixed income funds, with $10.2 billion going into its equity funds and $11.1 billion into its fixed income funds. Sixty-two percent of new investor money went into BlackRock's iShares exchange-traded fund business, which had $18.2 billion in inflows.
Просмотров: 10 Projection