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Earnings News Headlines - Yahoo! News
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TSX ekes out record close with Barrick's help
16 Feb 2017 at 1:51pm
By Leah Schnurr OTTAWA (Reuters) - Canada's main stock index edged up on Thursday to notch a fresh record high as Barrick Gold Corp jumped on the company's better-than-expected profits, though a drop in shares of Sun Life helped keep overall gains in check. Despite firmer oil prices, the energy sector gave up earlier gains to decline 0.2 percent as shares of Enbridge Inc fell 0.9 percent to C$55.43 ahead of the company's earnings after the bell. Enbridge also won U.S. antitrust approval for a merger with Spectra Energy Corp .
Dow Jones barely notches sixth straight record high close
16 Feb 2017 at 1:46pm
It was a mixed day on wall Street as investors digested recent gains and sold banks that have been big winners in the "Trump rally" that has seen the S&P 500 rise about 5 percent so far in 2017, with the Dow Jones Industrial Average up 4 percent. Signs of an improving economy and promises by President Donald Trump to cut corporate taxes and reduce financial regulations have been behind much of the recent gains. Now, with a strong fourth-quarter earnings season mostly complete, many investors say they need concrete signs of progress from Trump to justify more gains.
South Africa's Woolworths banks on cosmetics as profit dips
16 Feb 2017 at 6:39am
By TJ Strydom JOHANNESBURG (Reuters) - South African retailer Woolworths Holdings aims to double its share of the country's beauty products market in three years, its chief executive said, as the group reported a drop in half-year profit. South African retailers have struggled to grow earnings as weak economic growth and clothing markdowns by competitors hit sales, with Truworths International also reporting lower profits on Thursday. Woolworths, an upmarket retailer which sells mostly clothing and food in South Africa, has only a 3 percent market share in cosmetics but its Australian department store chain David Jones has a long relationship with beauty houses.
Lenovo targets profitable mobile division by year-end after third-quarter ear...
16 Feb 2017 at 3:09am
By Sijia Jiang HONG KONG (Reuters) - The mobile division of China's Lenovo Group Ltd is "on track" to return to profit by December at the earliest helped by strong growth in overseas markets, its chairman said on Thursday after the firm posted a 67 percent drop in quarterly earnings. Yang Yuanqing also dismissed the possibility of selling the struggling division to focus on the personal computer (PC) market where Lenovo is the world's biggest maker by shipments, as widely proposed by analysts and company watchers. "No, that is not my plan," Yang said in an interview.
Nestle earnings weighed down by weak food pricing
16 Feb 2017 at 3:07am
GENEVA (AP) ? Pressure on food prices globally weighed on the earnings of consumer goods giant Nestle, which on Thursday said it would step up its drive to cut costs.
Air France-KLM profits up in 2016, cautious for 2017
16 Feb 2017 at 12:36am
Air France-KLM said Thursday profits rose sharply in 2016, but issued a cautious outlook for the current year in face of global uncertainty and aggressive competition in the sector. "While the fall in the oil price significantly reduced the group's costs, the geopolitical context, competition and industry overcapacity all resulted in lower unit revenues," chief executive Jean-Marc Janaillac explained. The French business, Air France, booked a decline in operating profit, while the Dutch arm, KLM, saw underlying earnings rise.
Gold Fields unveils South Deep turnaround plan, earnings up sharply
15 Feb 2017 at 11:06pm
South African bullion producer Gold Fields on Thursday announced a rise in profits and a long-awaited plan to make its South Deep mine profitable, with a production target of 500,000 ounces a year. * Gold Fields posted normalised earnings of $191 million forthe year ended December 2016 compared with normalised earnings(not losses) of $45 million for the year ended December 2015. * This was in line with what the company had flagged to themarket, primarily driven by an increase in the US$ gold price (8percentYoY) and lower net operating costs in local currencies aswell as the impact of converting these costs at weaker exchangerates.
Canadian gold miner Goldcorp profit beats market forecast
15 Feb 2017 at 2:35pm
(Reuters) - Goldcorp Inc reported a higher-than-expected fourth-quarter profit on Wednesday compared to a steep loss a year ago, as much lower costs at its gold mines in the Americas and a higher gold price offset lower production. Goldcorp, the world's third-biggest gold producer by market value, reported net earnings of $101 million, or 12 cents a share, in the three months ended December. Analysts on average had expected the company to earn 9 cents a share, according to Thomson Reuters I/B/E/S. Vancouver-based Goldcorp said its all-in sustaining costs to produce an ounce of gold fell to $747 in the fourth quarter from $977 an ounce a year ago.
Deutsche Boerse boosts profits, eyeing LSE tie-up
15 Feb 2017 at 2:02pm
German stock exchange operator Deutsche Boerse on Wednesday reported strong increases in earnings and profits for 2016, as it awaits regulators' go-ahead for a tie-up with London Stock Exchange. The Frankfurt-based firm saw profits rise 14 percent to 811 million euros ($859 million), adjusting for special items, while revenues added 8.0 percent to reach 2.4 billion euros. "Our ongoing measures to enhance operating efficiency have shown their full effect," finance director Gregor Pottmeyer said in a statement, with controlling costs a "major contribution to earnings growth" in 2016.
Japan's Toshiba to start again on chip business sale: Jiji
15 Feb 2017 at 6:26am
Japan's Toshiba is to make a fresh start on selling a stake in its memory chip business, having announced on Tuesday that it could now sell most, or even all, of its prize asset, Jiji news agency said on Wednesday. Toshiba had previously planned to sell only about 20 percent and closed the initial round of bids on Feb. 3 but bids from investment funds and some industrial suitors were lower than expected, Jiji said. The fresh start could mean any sale would complete after the end of the financial year next month, meaning Toshiba would not be able to book the gain in this year's earnings, the report said.
Clash of Clans maker profit up despite Pokemon challenge
15 Feb 2017 at 4:58am
By Tuomas Forsell and Jussi Rosendahl HELSINKI (Reuters) - Supercell, the maker of hit mobile game Clash of Clans, said on Wednesday sales growth stalled last year due to competition from new challengers such as Nintendo Co's Pokemon GO, though earnings rose. The Finnish company, majority owned by China's Tencent Holdings Ltd , said profits benefited from lower spending on advertising and the successful launch of its latest game, Clash Royale. Clash Royale was a huge hit," Chief Executive Ilkka Paananen told reporters.
Israel's Wix.com beats estimates, sees strong 2017
15 Feb 2017 at 3:28am
Wix.com, an Israel-based company which helps small businesses build and operate websites, forecast higher-than-expected revenue in 2017 after fourth-quarter revenue and earnings topped estimates. It had been forecast to earn 3 cents a share excluding items on revenue of $81.65 million, according to Thomson Reuters I/B/E/S. Wix offers free basic features for setting up websites but users must pay for extra services such as shopping carts, individual web addresses and site traffic analysis. The number of registered users surpassed 100 million this month, Wix said.
Toshiba shares tumble more than 10% over huge loss warning
14 Feb 2017 at 4:42pm
Toshiba shares tumbled more than 10 percent shortly after the opening bell on Wednesday, after the company warned it was on track to book a $6.2 billion writedown in its US nuclear power business. Toshiba on Tuesday issued a grim preliminary earnings forecast, which prompted its chairman to resign as it hinted at a fresh accounting scandal. Toshiba warned it was on track to report a net loss of 390 billion yen ($3.4 billion) in the current fiscal year to March, as it faced a huge writedown topping 700 billion yen at Westinghouse.
U.S. investors brace for mounting political risks as they decode Trump
14 Feb 2017 at 10:50am
Barry James built up his $4 billion mutual fund largely by studying balance sheets, earnings and market share. Trump's unpredictable governing style and stated desire to renegotiate trade agreements and punish companies that seek out lower-cost forms of labor are upending the classic notion of fundamental investing, said James, who manages the James Balanced Golden Rainbow fund.
Moorside nuclear project in doubt after Toshiba writedown
14 Feb 2017 at 6:14am
By Susanna Twidale and Karolin Schaps LONDON (Reuters) - The future of Britain's new Moorside nuclear plant was thrown into doubt on Tuesday after Japan's Toshiba Corp , which is developing the project with France's Engie , said it planned to pull out of the construction work. Toshiba, which earlier delayed reporting its earnings, posted a $6.3 billion (£5 billion) hit to its U.S. nuclear unit, Westinghouse. "Toshiba will consider participating in the (Moorside) project without taking on any risk from carrying out actual construction work," it said in a presentation to investors.