European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12%

Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the London-listed


Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent. Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the London-listed
European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: sam meredith
Keywords: news, cnbc, companies, buy, uschina, stocks, stock, deal, wirecard, trade, company, million, value, jump, shares, mixed, watchdog, upgrades, hopes, markets, european


European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12%

Europe’s telecom stocks led the gains on Monday, up around 0.7 percent amid a flurry of rating upgrades. Switzerland’s Sunrise was among the top performers after Berenberg upgraded the stock to “buy” from “hold.” Shares of the company rose more than 2 percent.

Looking at individual stocks, Germany’s Wirecard surged to the top of the European benchmark after financial watchdog BaFin issued a ban against establishing or increasing short positions in the company’s stock. Shares of the firm jumped 12 percent on the news.

Meanwhile, soft drink bottler Coca-Cola HBC tumbled toward the bottom of the index. It comes after the company announced on Monday it would buy Serbian biscuit and confectionery maker Bambi for an enterprise value of 260 million euros ($294 million). Shares of the London-listed stock were under pressure during mid-morning deals.


Company: cnbc, Activity: cnbc, Date: 2019-02-18  Authors: sam meredith
Keywords: news, cnbc, companies, buy, uschina, stocks, stock, deal, wirecard, trade, company, million, value, jump, shares, mixed, watchdog, upgrades, hopes, markets, european


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European markets mixed after weak US data; Spain set to call snap election; Scout24 shares jump 12%

Europe’s autos stocks led the losses during morning trade, down more than 1.1 percent amid earnings news. Italy’s Pirelli led the sectoral losses, after reporting a dip in full-year sales late Thursday. Looking at individual stocks, Germany’s Scout24 surged to the top of the European benchmark. It comes after Hellman 7 Friedman and Blackstone offered to buy the online classifieds group for 5.7 billion euros ($6.4 billion), including debt. Shares of Scout24 rose nearly 12 percent during morning t


Europe’s autos stocks led the losses during morning trade, down more than 1.1 percent amid earnings news. Italy’s Pirelli led the sectoral losses, after reporting a dip in full-year sales late Thursday. Looking at individual stocks, Germany’s Scout24 surged to the top of the European benchmark. It comes after Hellman 7 Friedman and Blackstone offered to buy the online classifieds group for 5.7 billion euros ($6.4 billion), including debt. Shares of Scout24 rose nearly 12 percent during morning t
European markets mixed after weak US data; Spain set to call snap election; Scout24 shares jump 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: sam meredith
Keywords: news, cnbc, companies, losses, led, billion, earnings, jump, weak, shares, reporting, comes, set, european, spain, stocks, snap, scout24, morning, markets, mixed


European markets mixed after weak US data; Spain set to call snap election; Scout24 shares jump 12%

Europe’s autos stocks led the losses during morning trade, down more than 1.1 percent amid earnings news. Italy’s Pirelli led the sectoral losses, after reporting a dip in full-year sales late Thursday. Shares of the tiremaker were down over 1 percent on the news.

Looking at individual stocks, Germany’s Scout24 surged to the top of the European benchmark. It comes after Hellman 7 Friedman and Blackstone offered to buy the online classifieds group for 5.7 billion euros ($6.4 billion), including debt. Shares of Scout24 rose nearly 12 percent during morning trade.

Meanwhile, France’s Eutelstat slumped to the bottom of the index amid earnings news. Shares of the Paris-listed stock tumbled 9 percent after reporting a fall in first-half net revenue.

Elsewhere, Spanish Prime Minister Pedro Sanchez is expected to call a snap general election on Friday. It comes after parliament rejected his minority government’s 2019 budget proposal.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: sam meredith
Keywords: news, cnbc, companies, losses, led, billion, earnings, jump, weak, shares, reporting, comes, set, european, spain, stocks, snap, scout24, morning, markets, mixed


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Chinese stocks jump after return from holidays; US-China trade talks set to resume

Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week. The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. “First, as of late last week, President Trump had declared that he would not be meeting with President Xi before the deadline (1st Mar) on the US-China trade truce expires,” the note said. “However, Trump has also


Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week. The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. “First, as of late last week, President Trump had declared that he would not be meeting with President Xi before the deadline (1st Mar) on the US-China trade truce expires,” the note said. “However, Trump has also
Chinese stocks jump after return from holidays; US-China trade talks set to resume Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: eustance huang
Keywords: news, cnbc, companies, trade, xi, uschina, holidays, trump, stocks, deal, set, talks, resume, jump, chinese, president, tariffs, truce, return, best


Chinese stocks jump after return from holidays; US-China trade talks set to resume

Investors will be watching for developments on the U.S.-China trade front, with a new round of negotiations set to be held in Beijing later this week.

The Wall Street Journal reported Friday that the two countries have not yet put together a draft on the matters they agree or disagree. It comes as both Washington and Beijing are attempting to strike a deal on trade before a key March deadline, following which additional tariffs will be slapped on Chinese imports to the U.S.

U.S. President Donald Trump also said Thursday he will not meet with Chinese President Xi Jinping before that deadline.

“The reality is that olive branches, rather than rose stalks, are the best that anyone (anchored to reality) may be looking for,” said Mizuho Bank in a morning note.

It pointed to “restraints” overhanging those talks.

“First, as of late last week, President Trump had declared that he would not be meeting with President Xi before the deadline (1st Mar) on the US-China trade truce expires,” the note said.

“However, Trump has also categorically stated that there will be no US-China trade deal till he and President Xi have met. Therefore that is as good a guaranteeing that there will be no deal before the US-China truce expires.” That, the note said, not only “contradicts” Trump’s earlier tweets enthusing about a deal in the works, but also “begs the question” of whether that meant higher tariffs on Chinese imports.

One economist told CNBC that the “best case” outcome of the talks would be an “extension of the planned implementation” of the increase in tariffs.

“The problem that we have is that there’s a lot of complacency in the market about assuming that the best case actually happens,” David Mann, global chief economist at Standard Chartered Bank, told CNBC’s “Street Signs” on Monday. “Everyone’s assuming there will be no … further rises in tariffs this year,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: eustance huang
Keywords: news, cnbc, companies, trade, xi, uschina, holidays, trump, stocks, deal, set, talks, resume, jump, chinese, president, tariffs, truce, return, best


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Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here

Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330. “The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call. The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street exp


Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330. “The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call. The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street exp
Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: john melloy, aly song
Keywords: news, cnbc, companies, rally, jump, target, street, canaccord, upgrades, genuity, cash, concerns, shares, predicts, price, company, view, 40, stock, tesla, upgraded


Tesla shares jump after Canaccord Genuity upgrades the stock and predicts 40% rally from here

Tesla shares got off to the week with a good start after Canaccord Genuity upgraded the stock and predicted a monster rally from here as electric vehicle penetration improves and the company gets closer to building a car that is affordable for the masses.

Canaccord upgraded Tesla to buy from hold and raised its 12-month price target to $450 from $330.

“The EV penetration story is underappreciated by the Street,” wrote analyst Jed Dorsheimer in a note to clients Monday. “We see a more stable 2019 with far fewer concerns for investors in the company.”

Tesla closed Friday at $305.80, down 8 percent for the year. Canaccord’s new 12-month price target represents a gain of 47 percent from here. The stock jumped 2 percent in premarket trading Monday amid the Canaccord call.

The shares fell at the end of January after the company posted a fourth-quarter profit that fell short of Wall Street expectations. The Elon Musk-led company said it would focus on reducing costs in 2019 and also said its cash position improved to $3.7 billion.

“We view the recent string of price cuts as further proof that the cost cutting and right sizing that the company has undertaken are resulting in concrete movement towards the ultimate goal of an affordable $35,000 Model 3,” added Dorsheimer. “With the strong operating cash flow generation of $1.23B and cash on the balance sheet of $3.7B, the liquidity concerns and convertible note repayment are no longer valid concerns in our view.”

— With reporting by Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: john melloy, aly song
Keywords: news, cnbc, companies, rally, jump, target, street, canaccord, upgrades, genuity, cash, concerns, shares, predicts, price, company, view, 40, stock, tesla, upgraded


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Italian banking shares jump on ‘not so bad news’ from the ECB

Italian banking shares moved higher on Monday following reports that their capital positions are above the levels required by the European Central Bank – in what analysts have described as “not so bad news.” Italian banks have been at the forefront of many investors’ concerns. These concerns have raised Italy’s borrowing costs and added pressure on the profitability of Italian banks. However, news that the capital positions of certain banks are higher from what regulators have demanded has broug


Italian banking shares moved higher on Monday following reports that their capital positions are above the levels required by the European Central Bank – in what analysts have described as “not so bad news.” Italian banks have been at the forefront of many investors’ concerns. These concerns have raised Italy’s borrowing costs and added pressure on the profitability of Italian banks. However, news that the capital positions of certain banks are higher from what regulators have demanded has broug
Italian banking shares jump on ‘not so bad news’ from the ECB Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro, stocknshares, getty images
Keywords: news, cnbc, companies, concerns, european, negative, public, ecb, shares, positions, banking, jump, bad, banks, moved, recession, higher, italian


Italian banking shares jump on 'not so bad news' from the ECB

Italian banking shares moved higher on Monday following reports that their capital positions are above the levels required by the European Central Bank – in what analysts have described as “not so bad news.”

Italian banks have been at the forefront of many investors’ concerns. Since the appointment of the current anti-establishment government and the subsequent promises to increase public spending, money managers have been worried that the country could be in trouble given its high level of public debt. These concerns have raised Italy’s borrowing costs and added pressure on the profitability of Italian banks.

Furthermore, recent data has also shown that the economy has entered a technical recession in the last quarter of 2018. Lower economic activity could restrict the bank’s ability to make business. Credit rating agency Moody’s warned last week that if the recession were to continue over the coming quarters there would be “negative consequences for banks including negative effects on performance, higher nonperforming loan (NPL) inflows, and ultimately banks’ capital.”

However, news that the capital positions of certain banks are higher from what regulators have demanded has brought some relief.

Shares in Banco BPM rose above 7 percent, Ubi Banca jumped 4 percent and UniCredit moved nearly 3 percent higher.

“After consistent negative news impacting the whole European banking sector, we have finally seen some ‘not bad’ news,” Tom Kinmonth, fixed income strategist at ABN Amro told CNBC via email on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: silvia amaro, stocknshares, getty images
Keywords: news, cnbc, companies, concerns, european, negative, public, ecb, shares, positions, banking, jump, bad, banks, moved, recession, higher, italian


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Wirecard sues FT for ‘unethical reporting,’ shares jump 3%

Shares of Wirecard jumped 4 percent on Friday after the German payments firm announced it was taking legal action against the Financial Times for “unethical reporting” into its accounting practices. The FT has published three articles alleging fraud and misconduct in Wirecard’s accounting practices. In a statement released Friday, Wirecard said it was taking legal actions against the FT for its “unethical reporting.” “In the article published yesterday (Thursday), Wirecard employees are slandero


Shares of Wirecard jumped 4 percent on Friday after the German payments firm announced it was taking legal action against the Financial Times for “unethical reporting” into its accounting practices. The FT has published three articles alleging fraud and misconduct in Wirecard’s accounting practices. In a statement released Friday, Wirecard said it was taking legal actions against the FT for its “unethical reporting.” “In the article published yesterday (Thursday), Wirecard employees are slandero
Wirecard sues FT for ‘unethical reporting,’ shares jump 3% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: elizabeth schulze, christof stache, afp, getty images
Keywords: news, cnbc, companies, available, legal, unethical, shares, ft, reporting, taking, employees, wirecard, accounting, jump, statement, published, sues


Wirecard sues FT for 'unethical reporting,' shares jump 3%

Shares of Wirecard jumped 4 percent on Friday after the German payments firm announced it was taking legal action against the Financial Times for “unethical reporting” into its accounting practices.

The FT has published three articles alleging fraud and misconduct in Wirecard’s accounting practices. On Thursday, one of the reports described a pattern of “book-padding” at the firm’s Singapore office.

In a statement released Friday, Wirecard said it was taking legal actions against the FT for its “unethical reporting.”

“In the article published yesterday (Thursday), Wirecard employees are slanderously prejudged with unproven and false allegations. We will use all available legal means to protect the company and in particular our employees and their personal rights,” the statement said.

The FT was not immediately available for comment when contacted by CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: elizabeth schulze, christof stache, afp, getty images
Keywords: news, cnbc, companies, available, legal, unethical, shares, ft, reporting, taking, employees, wirecard, accounting, jump, statement, published, sues


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Chipotle shares jump after crushing earnings estimates as turnaround accelerates

Chipotle on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, thanks to increasing foot traffic and menu price increases. Thanks to Niccol’s popularity with investors, Chipotle’s stock had its best year since 2013 last year, with shares soaring nearly 50 percent. Digital orders typically mean a higher check for restaurants, not to mention that they reduce in-store lines. To cope with a rising number of digital orders, Chipotle is updating its kitchens with a sec


Chipotle on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, thanks to increasing foot traffic and menu price increases. Thanks to Niccol’s popularity with investors, Chipotle’s stock had its best year since 2013 last year, with shares soaring nearly 50 percent. Digital orders typically mean a higher check for restaurants, not to mention that they reduce in-store lines. To cope with a rising number of digital orders, Chipotle is updating its kitchens with a sec
Chipotle shares jump after crushing earnings estimates as turnaround accelerates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: amelia lucas, adam jeffery
Keywords: news, cnbc, companies, estimates, earnings, chipotle, sales, share, million, company, turnaround, digital, niccol, jump, shares, accelerates, orders, growth, crushing, quarter


Chipotle shares jump after crushing earnings estimates as turnaround accelerates

Chipotle on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, thanks to increasing foot traffic and menu price increases.

Shares of the company jumped 9 percent.

“I’m very pleased to report strong fourth quarter results with 6.1 percent comparable restaurant sales growth that included 2 percent transaction growth,” CEO Brian Niccol said in a statement.

Thanks to Niccol’s popularity with investors, Chipotle’s stock had its best year since 2013 last year, with shares soaring nearly 50 percent. Since taking the reins in March, Niccol, who used to lead Yum Brands’ Taco Bell, has been pushing digital and marketing investments to bring the company back to stable growth. Digital orders typically mean a higher check for restaurants, not to mention that they reduce in-store lines.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.72, adjusted, vs. $1.37 expected

Revenue: $1.23 billion vs. $1.194 billion expected

Same-store sales growth: 6.1 percent vs 4.49 percent expected

In the fourth quarter, digital orders rose 65.9 percent, accounting for $158.6 million in revenue, or 12.9 percent of sales. To cope with a rising number of digital orders, Chipotle is updating its kitchens with a second assembly line solely for those orders. It has more upgrades, like pick-up shelves to display online orders, in the works. Those shelves are in 1,000 of its restaurants so far.

In September, the company started a new advertising campaign called “For Real” to showcase its fresh ingredients and food preparation. The company also saw bump at the end of the quarter when it ran a free delivery bowl campaign to promote its partnership with Doordash. Niccol told analysts on the conference call that new or infrequent customers made up nearly half of the people taking advantage of the offer.

The company also reiterated its intention to launch a loyalty program nationwide this year. It began testing the program in October in several U.S. cities to win back customers. The program is yet another way to drive diners to order their Chipotle burritos digitally. Niccol said that it is still in the early days of understanding the implications of its pilot but that it is building on momentum.

The Mexican food chain reported fiscal fourth-quarter net income of $32.0 million, or $1.15 per share, declining from $43.8 million, or $1.55 per share a year earlier.

Excluding restaurant closure costs, corporate restructuring and other undisclosed costs, Chipotle earned $1.72 per share, topping the $1.37 per share expected by analysts surveyed by Refinitiv.

Net sales rose 10.4 percent to $1.23 billion, topping expectations of $1.19 billion, helped by strong same-store sales. Stores open at least a year saw sales increase by 6.1 percent during the quarter. Prices increased by 3.3 percent during the quarter.

The company is planning for “modest” price increases this year, which the company said will be lower than prior increases. It plans for the increases to offset labor inflation of 4 to 5 percent.

“The biggest challenge is going to be labor inflation,” Niccol said.

During 2019, Chipotle is forecasting same-store sales growth in the mid-single digits. It is also planning on opening between 140 and 155 new locations, largely in the second half of the year.

The company also announced Wednesday that its board approved an additional $100 million of stock buybacks. The buyback authorization adds to its previous authorization of $57.6 million. During 2018, the company spent $161 million on buybacks.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: amelia lucas, adam jeffery
Keywords: news, cnbc, companies, estimates, earnings, chipotle, sales, share, million, company, turnaround, digital, niccol, jump, shares, accelerates, orders, growth, crushing, quarter


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European markets open higher; BP shares jump 4%

The pan-European Stoxx 600 was up around 0.1 percent shortly after the opening bell, with most sectors and major bourses in positive territory. Market focus is largely attuned to the latest batch of corporate results, after fourth-quarter earnings helped to push the S&P 500 slightly higher on Monday. In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.4 percent — hovering close to a four-month high. Trading was subdued on Tuesday, with many of Asia’s financial markets


The pan-European Stoxx 600 was up around 0.1 percent shortly after the opening bell, with most sectors and major bourses in positive territory. Market focus is largely attuned to the latest batch of corporate results, after fourth-quarter earnings helped to push the S&P 500 slightly higher on Monday. In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.4 percent — hovering close to a four-month high. Trading was subdued on Tuesday, with many of Asia’s financial markets
European markets open higher; BP shares jump 4% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: sam meredith
Keywords: news, cnbc, companies, thursdayback, financial, stoxx, european, open, index, subdued, jump, week, markets, territorymarket, closed, shares, timethe, bp, higher


European markets open higher; BP shares jump 4%

The pan-European Stoxx 600 was up around 0.1 percent shortly after the opening bell, with most sectors and major bourses in positive territory.

Market focus is largely attuned to the latest batch of corporate results, after fourth-quarter earnings helped to push the S&P 500 slightly higher on Monday.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.4 percent — hovering close to a four-month high.

Trading was subdued on Tuesday, with many of Asia’s financial markets closed for the Lunar New Year. China’s financial markets are closed all week, with South Korea’s index set to reopen on Thursday.

Back in Europe, market participants are also likely to closely monitor the release of Spain’s consumer confidence figures at around 9:00 a.m. London time.

The euro area is scheduled to publish month-on-month retail sales data for December later in the session.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: sam meredith
Keywords: news, cnbc, companies, thursdayback, financial, stoxx, european, open, index, subdued, jump, week, markets, territorymarket, closed, shares, timethe, bp, higher


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Australian banking shares jump while the country’s central bank keeps its cash rate unchanged

Australian banking stocks gained Tuesday after a special government-appointed inquiry into the country’s financial sector did not recommend breaking up any of the banks or interfering in the way they lend money. Shares of ANZ rose 6.5 percent, National Australia Bank added 3.91 percent, Westpac shares added 7.36 percent and Commonwealth Bank gained 4.69 percent. The broader benchmark ASX 200 gained 1.95 percent to 6,005.9 as the heavily weighted financial subindex added 4.47 percent. Still, the


Australian banking stocks gained Tuesday after a special government-appointed inquiry into the country’s financial sector did not recommend breaking up any of the banks or interfering in the way they lend money. Shares of ANZ rose 6.5 percent, National Australia Bank added 3.91 percent, Westpac shares added 7.36 percent and Commonwealth Bank gained 4.69 percent. The broader benchmark ASX 200 gained 1.95 percent to 6,005.9 as the heavily weighted financial subindex added 4.47 percent. Still, the
Australian banking shares jump while the country’s central bank keeps its cash rate unchanged Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: saheli roy choudhury, peter parks, afp, getty images
Keywords: news, cnbc, companies, countrys, banking, rate, added, financial, overhaul, report, gained, possible, jump, central, bank, cash, keeps, widespread, unchanged, shares, sector, royal, commission


Australian banking shares jump while the country's central bank keeps its cash rate unchanged

Australian banking stocks gained Tuesday after a special government-appointed inquiry into the country’s financial sector did not recommend breaking up any of the banks or interfering in the way they lend money.

Shares of ANZ rose 6.5 percent, National Australia Bank added 3.91 percent, Westpac shares added 7.36 percent and Commonwealth Bank gained 4.69 percent.

The broader benchmark ASX 200 gained 1.95 percent to 6,005.9 as the heavily weighted financial subindex added 4.47 percent.

Still, the so-called Royal Commission recommended measures that would subject regulators to a new oversight body and also overhaul the financial industry’s pay to remove conflicts of interest, Reuters reported.

“Despite a year of high drama, evidence of widespread greed, as well as a blistering Interim Report, the Hayne Royal Commission delivered a very pragmatic Final Report,” analysts at Citi Research wrote in a note. “It avoided a radical industry overhaul, as well as avoiding widespread civil and criminal prosecutions.”

“Of all the possible outcomes for the Major Banks, this is likely to be considered the best possible set of recommendations given the circumstances that the sector could have reasonably expected,” the analysts added.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: saheli roy choudhury, peter parks, afp, getty images
Keywords: news, cnbc, companies, countrys, banking, rate, added, financial, overhaul, report, gained, possible, jump, central, bank, cash, keeps, widespread, unchanged, shares, sector, royal, commission


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Clorox shares jump 6% after earnings top expectations

Clorox shares jumped 6 percent Monday after it reported second-quarter profits that topped Wall Street’s expectations and reaffirmed its 2019 outlook. The consumer goods maker posted adjusted earnings per share of $1.40, beating consensus projections of $1.30. “Importantly, we remain on track for sales and earnings in fiscal year 2019.” It expects fiscal years 2019 diluted earnings per share in a range between $6.20 and $6.40. However, Clorox also said it expects tariffs to hurt its profits by 5


Clorox shares jumped 6 percent Monday after it reported second-quarter profits that topped Wall Street’s expectations and reaffirmed its 2019 outlook. The consumer goods maker posted adjusted earnings per share of $1.40, beating consensus projections of $1.30. “Importantly, we remain on track for sales and earnings in fiscal year 2019.” It expects fiscal years 2019 diluted earnings per share in a range between $6.20 and $6.40. However, Clorox also said it expects tariffs to hurt its profits by 5
Clorox shares jump 6% after earnings top expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: thomas franck, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, earnings, expectations, jump, profits, shares, quarter, fiscal, expects, range, share, 2019, clorox, sales


Clorox shares jump 6% after earnings top expectations

Clorox shares jumped 6 percent Monday after it reported second-quarter profits that topped Wall Street’s expectations and reaffirmed its 2019 outlook.

The consumer goods maker posted adjusted earnings per share of $1.40, beating consensus projections of $1.30. It posted 4 percent sales growth in the second quarter, bringing revenues for the three months ended on Dec. 31 to $1.47 billion.

“Sound execution of our pricing and cost-savings plans has enabled us to address near-term headwinds, resulting in another strong quarter of topline performance,” said Clorox Chair and CEO Benno Dorer. “Importantly, we remain on track for sales and earnings in fiscal year 2019.”

The company said in a press release that it anticipates sales growth for fiscal 2019 in a range of 2 to 4 percent, driven by innovation that management expects to deliver about 3 percentage points of incremental sales. It expects fiscal years 2019 diluted earnings per share in a range between $6.20 and $6.40.

However, Clorox also said it expects tariffs to hurt its profits by 5 to 7 cents in 2019. The stock was down more than 2 percent for 2019 heading into the earnings, trailing the market.

Programming Note: For more on Clorox, watch CEO Benno Dorer’s interview on Mad Money tonight at 6 p.m. ET.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: thomas franck, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, earnings, expectations, jump, profits, shares, quarter, fiscal, expects, range, share, 2019, clorox, sales


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