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Governor Phil Murphy Sees Huge Profit Margin in High Energy Prices for State Finances
TRENTON, NJ – New Jersey’s government bank accounts are about to see a huge increase in tax revenue collected from anyone who pays an electric bill, thanks to a 20% price hike…
Spice maker McCormick lifts profit forecast as higher prices cushion weaker demand
(Reuters) – McCormick on Tuesday raised its annual profit forecast as it expects higher prices for its spices and condiments to make up for slowing demand and a sluggish recovery in China…
Commerzbank shares up 11% after forecasts for bigger profit returns
FRANKFURT (Reuters) – Shares of Commerzbank were up 11% midday on Friday after the German lender said it was revamping its payout policy for investors, aiming for a return of least 70%…
Commerzbank forecasts bigger profit returns for investors
FRANKFURT (Reuters) – Germany’s Commerzbank said on Thursday it was revamping its payout policy for investors, aiming for a return of least 70% of profit for 2024. It also expects a payout…
FedEx quarterly profit likely boosted by rivals’ pain
By Lisa Baertlein LOS ANGELES (Reuters) – FedEx Corp benefited from misfortunes experienced by rivals UPS and Yellow during its latest quarter as the global delivery firm continued slashing costs to match…
Lennar profit beats as tight home supply boosts construction demand
(Reuters) -Homebuilder Lennar on Thursday reported third-quarter profit above Wall Street targets as historically low home inventories in the market supported demand for new constructions while easing supply-chain snags helped improve delivery…
Adobe forecasts fourth-quarter profit above estimates on AI strength
(Reuters) – Photoshop software maker Adobe forecast current-quarter profit above Wall Street estimates on Thursday, after beating revenue estimates for the third quarter on strong demand for its photo, video editing and…
Fund manager Ashmore sees 6% profit drop on outflows
LONDON (Reuters) -Emerging markets-focused fund manager Ashmore reported a 6% fall in annual profit on Wednesday and assets under management slumped by almost a quarter, as investors sought to curb risk amid…
PwC Australia flags revenue hole, partner profit cut due to tax scandal legacy
By Lewis Jackson SYDNEY (Reuters) – PwC Australia on Friday said the spin-off of its government consulting business and other costs from a tax scandal will leave a double-digit revenue hole and…
Campbell Soup sees upbeat annual profit on easing costs, snack demand
By Deborah Mary Sophia (Reuters) – Campbell Soup forecast annual profit largely above Wall Street estimates on Thursday, encouraged by easing costs and steady demand for its snacks even as inflation-weary consumers…
China developer Vanke sees pressure on profit amid market downturn
HONG KONG (Reuters) – Chinese state-backed property developer China Vanke said its profit would be under pressure in the short term amid a market correction, but that would not hurt its cashflow.…
UBS reports second-quarter profit of $28.875 billion
ZURICH (Reuters) – UBS Group on Thursday reported $28.875 billion in net profit attributable to shareholders for the second quarter, in its first earnings results since it took over Credit Suisse. (Reporting…
CrowdStrike lifts forecast for annual revenue, profit on resilient cybersecurity demand
(Reuters) – CrowdStrike Holdings on Wednesday raised its full-year outlook and forecast third-quarter revenue and profit above market estimates, as more clients turn to its integrated cybersecurity offerings to combat rising digital…
Jif peanut butter maker J.M. Smucker lifts profit forecast on higher prices, lower costs
(Reuters) – Jif peanut butter maker J.M. Smucker on Tuesday raised its annual profit forecast on higher prices of its jams, jellies and pet food products as well as moderating costs of…
Australia’s Star Entertainment swings to annual profit, debt falls
(Reuters) – Australia’s Star Entertainment Group swung to an annual profit on Tuesday as operating conditions continued to stabilise and revenues improved across segments, also helping the cash-strapped casino operator significantly reduce…
Fortescue profit drops on Iron Bridge impairment charge; co-CEO to step down
By Roushni Nair and Melanie Burton (Reuters) -Australia’s Fortescue on Monday reported a $1 billion pre-tax impairment charge associated with its flagship magnetite growth project, while posting its lowest annual profit in…
Gap shares jump as investors focus on profit beat over weak forecast
(Reuters) – Shares of Gap climbed as much as 8% on Friday, after the apparel retailer’s quarterly profit beat indicated that the Old Navy parent’s cost cuts were paying off even as…
China’s Meituan swings to profit on food delivery rebound, flags headwinds
By Casey Hall SHANGHAI (Reuters) -Chinese food delivery giant Meituan on Thursday posted a bigger-than-expected 33.4% rise in second-quarter revenue, defying a slowing Chinese economy, though executives warned of headwinds for its…
Toronto-Dominion Bank’s quarterly profit falls as loan-loss provisions rise
(Reuters) – Toronto-Dominion Bank on Thursday reported a drop in third-quarter profit as the Canadian lender set aside more rainy-day funds to cover losses from borrowers who might fall behind on loan…
China Construction Bank H1 profit up 3.36%
BEIJING/SHANGHAI (Reuters) – China Construction Bank Corp (CCB), the first of the country’s Big Five lenders to report half-year results this week, posted a 3.36% rise in first-half net profit on Wednesday.…
Toll Brothers beats profit estimates on higher home sales
(Reuters) – Homebuilder Toll Brothers Inc beat Wall Street estimates for third-quarter profit on Tuesday, as demand for luxury homes in a tighter resale market boosted new home sales. Shares of the…
Dick’s Sporting shares slide as costs, inventory shrink slam annual profit outlook
(Reuters) – Dick’s Sporting Goods shares slumped as much as 24.5% on Tuesday as the footwear retailer slashed its full-year profit target after missing expectations for the second quarter. The company said…
UK homebuilder shares tumble after Crest Nicholson cuts annual profit outlook
LONDON (Reuters) – UK homebuilder shares tumbled on Monday, set for their biggest one-day drop in over six weeks, led by a 14.9% fall in Crest Nicholson shares which plunged after the…
Analysis-Asia’s refiners face profit crunch as Kuwait cuts crude exports
By Muyu Xu SINGAPORE (Reuters) – Asian refiners are on the hunt for crude oil to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its…
Chinese banks should keep a ‘proper level’ of profit margins -central bank
BEIJING (Reuters) – Chinese commercial banks need to maintain a proper level of profit and net interest margins to ensure sustainability in supporting the real economy, China’s central bank said in a…
Colombia’s Grupo Aval posts 75% fall in profit as bank margins fall
(Reuters) – Colombian financial conglomerate Grupo Aval reported a 75.4% year-over-year fall in net profit in the second quarter, according to a securities filing on Wednesday, despite a strong boost in interest…
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