Company news in brief
Walmart's online struggles spook investors
Walmart Inc, the world's biggest retailer, on Tuesday posted a sharp drop in profit and online sales growth during the critical holiday period and forecast annual profit at the lower end of expectations.
Its shares fell 9.4% as investors worried that Walmart would not be able to keep pace with Amazon.com Inc, the world's biggest online retailer, as it struggles with managing its online business.
Even as comparable sales in the US market rose for the 14th consecutive quarter, Walmart's online sales grew 23% in the fourth quarter that included the holidays. In the same period a year ago, sales grew 29%, while online sales were up 50% in the third quarter.
The company posted about US$11.5 billion in U.S. e-commerce revenue for the year but lost money.
Excluding special items that crimped profits such as restructuring charges and an impact from offering a one-time bonus to employees, earnings came to US$1.33 per share in the fourth quarter ended Jan. 31. The average analyst estimate was US$1.37 per share, according to Thomson Reuters I/B/E/S. – Nampa/Reuters
?
Deutsche Boerse posts profit rise
Deutsche Boerse posted a 26% rise in net profit in the fourth quarter of 2017, and the German stock exchange operator said it expects a 10% rise in 2018 net profit despite missing its 2017 target amid weak markets.
Net profit in the quarter rose to 213.6 million euro (US$263.6 million), above expectations of 192 million euro forecast in a Reuters poll of banks and brokerages.
For the full year, profit rose 6% to 857.1 million euro, well under its goal of a 10% to 15% rise. Deutsche Boerse warned in October that profit for 2017 was “very likely” to fall short of its target.
The earnings are the first since Theodor Weimer assumed the helm of the German stock exchange as its chief executive at the start of the year, and he sounded an optimistic note for 2018.
He forecast revenue growth of at least 5% and said he doesn't expect further headwinds. – Nampa/Reuters
?
Domino's Pizza rises on
takeover talks
Domino's Pizza Inc reported better-than-expected quarterly profit on Tuesday amid speculation that the pizza delivery chain could be bought by the owner of Burger King and other fast-food brands.
A media report about a potential acquisition overshadowed growing investor concerns that delivery services like GrubHub Inc and UberEATS are nibbling away at the pizza chain's business.
Domino's fourth-quarter profit rose 28 percent to $93.3 million, or $2.09 per share, topping analysts' average target of $1.95 per share, according to Thomson Reuters I/B/E/S.
Brazil Journal, citing people with knowledge of the matter, reported that Restaurant Brands International Inc is putting together a bid to buy Domino's.
On a conference call with analysts, outgoing CEO J. Patrick Doyle said international same store sales were more volatile than usual, due in part to weakness in Japan, but that Domino's business remains healthy.
– Nampa/Reuters
?
No demand for bigger
A350 for now
Airbus is not planning a larger A350 jet and will focus on developing existing versions of the widebody aircraft, an executive said on Tuesday.
Last summer, the European planemaker shelved tentative plans for a bigger A350 that would compete more directly with Boeing's new 777X plane currently under development.
“For the time being there are no plans. We don't see the need,” Marisa Lucas-Ugena, head of A350 XWB Marketing, told Reuters in Toulouse.
She did not say what could create demand for a larger version.
However, she added that while the A380 - the world's largest passenger jet - fills the need for high density routes, there was still a “huge gap” between that model and the A350-1000, the largest of the A350 family.
– Nampa/Reuters
BMW's most powerful shareholder
Stefan Quandt has become BMW's largest single shareholder, giving him a big enough stake to block any potential takeover of the Bavarian carmaker, a regulatory filing showed on Tuesday.
The 51-year-old German entrepreneur's direct ownership increased with shares inherited from his mother, giving him a so-called “blocking stake” of 25.83%, worth 13.4 billion euro (US$16.6 billion).
Under German takeover rules buyer acquirer own a voting stake of more than 75% to gain full control.
The Quandt family has for decades controlled a stake of a little more than 46% of the Munich-based carmaker that owns the Rolls-Royce and Mini brands, but Stefan Quandt's enlarged holding means he can now act single handedly to prevent a full takeover, if necessary.
Although the voting rights have been redistributed, the family's stance about keeping its stake remains unchanged, a Quandt family spokesman said.
– Nampa/Reuters
Walmart Inc, the world's biggest retailer, on Tuesday posted a sharp drop in profit and online sales growth during the critical holiday period and forecast annual profit at the lower end of expectations.
Its shares fell 9.4% as investors worried that Walmart would not be able to keep pace with Amazon.com Inc, the world's biggest online retailer, as it struggles with managing its online business.
Even as comparable sales in the US market rose for the 14th consecutive quarter, Walmart's online sales grew 23% in the fourth quarter that included the holidays. In the same period a year ago, sales grew 29%, while online sales were up 50% in the third quarter.
The company posted about US$11.5 billion in U.S. e-commerce revenue for the year but lost money.
Excluding special items that crimped profits such as restructuring charges and an impact from offering a one-time bonus to employees, earnings came to US$1.33 per share in the fourth quarter ended Jan. 31. The average analyst estimate was US$1.37 per share, according to Thomson Reuters I/B/E/S. – Nampa/Reuters
?
Deutsche Boerse posts profit rise
Deutsche Boerse posted a 26% rise in net profit in the fourth quarter of 2017, and the German stock exchange operator said it expects a 10% rise in 2018 net profit despite missing its 2017 target amid weak markets.
Net profit in the quarter rose to 213.6 million euro (US$263.6 million), above expectations of 192 million euro forecast in a Reuters poll of banks and brokerages.
For the full year, profit rose 6% to 857.1 million euro, well under its goal of a 10% to 15% rise. Deutsche Boerse warned in October that profit for 2017 was “very likely” to fall short of its target.
The earnings are the first since Theodor Weimer assumed the helm of the German stock exchange as its chief executive at the start of the year, and he sounded an optimistic note for 2018.
He forecast revenue growth of at least 5% and said he doesn't expect further headwinds. – Nampa/Reuters
?
Domino's Pizza rises on
takeover talks
Domino's Pizza Inc reported better-than-expected quarterly profit on Tuesday amid speculation that the pizza delivery chain could be bought by the owner of Burger King and other fast-food brands.
A media report about a potential acquisition overshadowed growing investor concerns that delivery services like GrubHub Inc and UberEATS are nibbling away at the pizza chain's business.
Domino's fourth-quarter profit rose 28 percent to $93.3 million, or $2.09 per share, topping analysts' average target of $1.95 per share, according to Thomson Reuters I/B/E/S.
Brazil Journal, citing people with knowledge of the matter, reported that Restaurant Brands International Inc is putting together a bid to buy Domino's.
On a conference call with analysts, outgoing CEO J. Patrick Doyle said international same store sales were more volatile than usual, due in part to weakness in Japan, but that Domino's business remains healthy.
– Nampa/Reuters
?
No demand for bigger
A350 for now
Airbus is not planning a larger A350 jet and will focus on developing existing versions of the widebody aircraft, an executive said on Tuesday.
Last summer, the European planemaker shelved tentative plans for a bigger A350 that would compete more directly with Boeing's new 777X plane currently under development.
“For the time being there are no plans. We don't see the need,” Marisa Lucas-Ugena, head of A350 XWB Marketing, told Reuters in Toulouse.
She did not say what could create demand for a larger version.
However, she added that while the A380 - the world's largest passenger jet - fills the need for high density routes, there was still a “huge gap” between that model and the A350-1000, the largest of the A350 family.
– Nampa/Reuters
BMW's most powerful shareholder
Stefan Quandt has become BMW's largest single shareholder, giving him a big enough stake to block any potential takeover of the Bavarian carmaker, a regulatory filing showed on Tuesday.
The 51-year-old German entrepreneur's direct ownership increased with shares inherited from his mother, giving him a so-called “blocking stake” of 25.83%, worth 13.4 billion euro (US$16.6 billion).
Under German takeover rules buyer acquirer own a voting stake of more than 75% to gain full control.
The Quandt family has for decades controlled a stake of a little more than 46% of the Munich-based carmaker that owns the Rolls-Royce and Mini brands, but Stefan Quandt's enlarged holding means he can now act single handedly to prevent a full takeover, if necessary.
Although the voting rights have been redistributed, the family's stance about keeping its stake remains unchanged, a Quandt family spokesman said.
– Nampa/Reuters
Kommentaar
Republikein
Geen kommentaar is op hierdie artikel gelaat nie