Wed, 19 Jun 2013 17:23:54 -0400
By Sruthi Ramakrishnan (Reuters) - Micron Inc reported a better-than-expected quarterly profit due to higher prices for its memory chips used in personal computers, mobile handsets and tablet devices. The company said average selling prices of its dynamic random access memory (DRAM) chips, mostly used in PCs and which accounted for 39 percent of revenue last year, rose 16 percent during the quarter. Memory supply constraints have driven up prices this year, with DRAM prices more than doubling, Jefferies & Co analysts said in a pre-earnings note. ...
Wed, 19 Jun 2013 15:51:45 -0400
TORONTO (Reuters) - BlackBerry shares fell 4 percent on Wednesday after a Bernstein Research analyst cut his rating on the stock to "underperform" ahead of the company's quarterly earnings release next week. While Bernstein's Pierre Ferragu said he expected disappointing results from the smartphone maker, other analysts have bullish expectations, pointing to an even more volatile run for a generally volatile stock. ...
Wed, 19 Jun 2013 04:27:40 -0400
STOCKHOLM (AP) — Swedish fashion retailer Hennes & Mauritz AB on Wednesday said profits fell by 11 percent in the second quarter due to the strong Swedish krona and increased markdowns as it tried to shift its products.
Wed, 19 Jun 2013 01:05:37 -0400
By Susan Kelly CHICAGO (Reuters) - Shares of U.S. hospital operators have been on a tear this year, on average posting triple the gains of the broader stock market, as investors tallied up the benefits of President Barack Obama's healthcare reform. While some on Wall Street have held back amid signs of trouble as U.S. states prepare to implement the reform law, long-term investors still see more reward than risk on the horizon for hospital stocks. They expect company earnings to strengthen as more Americans gain insurance coverage and hospitals lose less money treating the uninsured. ...
Tue, 18 Jun 2013 19:12:32 -0400
By Greg Roumeliotis and Soyoung Kim NEW YORK (Reuters) - SunGard Data Systems Inc, the computer software maker that was taken private in 2005 for $11.4 billion, is exploring a sale of its data managing operations that could fetch up to $2 billion, several people familiar with the matter said on Tuesday. The business for sale, which offers data center space and technology infrastructure to clients looking to safeguard their data, has earnings before interest, tax, depreciation and amortization (EBITDA) of around $200 million, the people said. ...
Tue, 18 Jun 2013 06:28:44 -0400
By Ayai Tomisawa TOKYO (Reuters) - Japan's Nikkei will rise 51 percent in 2013 on expectations of higher company earnings, driven by a weaker yen after Prime Minister Shinzo Abe embarked on radical fiscal and monetary expansionary policies to spur growth, a Reuters poll showed, A gradual economic recovery in the United States, Japan's biggest export market, will also help reignite buying in Japanese stocks after a bout of selling in recent weeks pushed the benchmark index briefly into bear market territory. ...
Tue, 18 Jun 2013 04:08:59 -0400
JOHANNESBURG (Reuters) - Employment in South Africa's non-agriculture sector edged up 0.1 percent in the first quarter of 2013 compared with the previous three months, although the key mining and manufacturing sectors shed jobs, Statistics South Africa said on Tuesday. On a year-on-year basis, the number of people with formal jobs rose 1 percent to 8.463 million during the quarter, the statistics agency said in a report. Gross earnings fell 3.9 percent to slightly more than 377 billion rand in the three months to March compared with the previous quarter but were up 8. ...
Sun, 16 Jun 2013 17:06:03 -0400
By Miyoung Kim SEOUL (Reuters) - Analysts fell under Samsung Electronics Co Ltd's marketing spell when they made what they now admit were hopelessly optimistic forecasts for its smartphone sales. Samsung's huge share of the high-end smartphone market also persuaded some analysts to downplay industry data pointing to a fast-saturating segment, a reality that is already eating into sales of Apple Inc's iPhone 5. Woori Investment & Securities, one of South Korea's largest securities firms, cut its outlook for Samsung's earnings and target share price on June 5. It was the first to adjust its ...
Fri, 14 Jun 2013 10:39:35 -0400
DAR ES SALAAM (Reuters) - Tanzania's current account deficit narrowed by 13.3 percent in the year to April, with stronger tourism, manufacturing and agricultural output and earnings cushioning a decline in gold exports, its central bank said on Friday. The current account deficit narrowed to $3.94 billion in the 12 months to April from $4.54 billion during the same period last year. The bank did not say what it was as a percentage of GDP. "With the exception of gold, all other non-traditional exports increased. Much of the increase was recorded in manufactured goods which amounted to $1. ...
Thu, 13 Jun 2013 14:30:30 -0400
By Euan Rocha TORONTO (Reuters) - Dorel Industries Inc warned on Thursday that earnings from its recreational unit will be weaker than expected as wet weather has dampened bicycle sales in the United States, Canada and Europe, driving its shares down 6.4 percent. The Montreal-based company, which also makes strollers, car seats and home furnishings, said weather conditions have led to widespread discounting in the bicycle market by rivals. It no longer expects full-year earnings from the bicycle business to top 2012 results. ...
Thu, 13 Jun 2013 12:33:06 -0400
LONDON (Reuters) - Britons' real net incomes fell to their lowest level in a decade in the year ending in March 2012, annual data from the country's labour ministry showed on Wednesday. Average net incomes including social benefits fell 3 percent during the 2011/12 tax year to their lowest level since 2001/02 on an inflation-adjusted basis. "Income fell as earnings and benefit income grew more slowly than the cost of living as measured by RPI (retail price inflation)," the Department for Work and Pensions said. ...
Thu, 13 Jun 2013 09:39:01 -0400
(Reuters) - Chemical maker DuPont said its operating profit would fall more than it expected in the first half of the year as a wet spring in North America and Europe hurt its agriculture business, sending its shares down 1.5 percent. Dupont is focusing on food and agricultural products to cut its dependence on a weakening market for paint pigments. The company expects its first-half operating earnings per share to be about 10 percent below last year, Chief Financial Officer Nicholas Fanandakis said in a statement on Thursday. The company had forecast a 7 to 9 percent fall in April. ...
Thu, 13 Jun 2013 09:23:53 -0400
TORONTO (Reuters) - Dorel Industries Inc warned on Thursday that earnings from its recreational unit will be weaker than expected as wet weather has slowed bicycle sales in the United States, Canada and Europe. The Montreal-based company, which also makes strollers, car seats and home furnishings, said the bicycle market has also seen widespread discounting by competitors. As a result of the weak sales in the first half of the year, Dorel said it no longer expects full-year earnings from the bicycle unit to top 2012 results. (Reporting by Euan Rocha; editing by John Wallace)
Wed, 12 Jun 2013 07:04:54 -0400
PORT LOUIS (Reuters) - Mauritius Telecom, the Indian Ocean island's main provider of telecommunications services, has posted a 0.7 percent increase in its pretax profit for last year. The company said pretax profit rose to 2.56 billion rupees from 2.55 billion a year ago on turnover up 300 million rupees at 8 billion rupees. "Revenue from the internet segment rose 8.6 percent to 832 million with an increase in subscribers. Mobile revenue climbed 3.2 percent to 3.6 billion rupees," Chief Executive Sarat Lallah told a news conference. Earnings per share fell to 9.37 rupees from 9. ...
Tue, 11 Jun 2013 08:23:02 -0400
LAGOS (Reuters) - The Nigerian unit of South Africa's Standard Bank said on Tuesday it expected its pretax profit for the third quarter to hit 4.38 billion naira, compared with 3.14 billion naira in the same period last year. The lender said gross earnings will be 21.52 billion naira in the three-months to September 2013, up 17 percent from 18.4 billion naira in the same period a year ago, it said in a filing with the Nigerian Stock Exchange. It gave no reason for the increase in earnings.
Tue, 11 Jun 2013 07:21:52 -0400
LAGOS (Reuters) - Nigeria's Guaranty Trust Bank said on Tuesday it expected its pretax profit for the third quarter to hit 20.7 billion naira, compared with 21.9 billion naira in the same period last year. The lender said gross earnings will be 41.25 billion naira in the three-months to September 2013, down 42 percent from 70.52 billion naira in the same period a year ago, it said in a filing with the Nigerian Stock Exchange. GT Bank did not gives reasons for the falls earnings and profit.
Tue, 11 Jun 2013 07:20:51 -0400
LAGOS (Reuters) - Nigeria's Union Bank said on Tuesday it first quarter pre-tax profit rose 40.33 percent to 7.69 billion naira, compared with 5.48 billion naira in the same period last year. It gave no reason for the rise. Gross earnings dropped marginally to 29.79 billion naira from 29.84 billion naira the same period last year, the bank said in a statement.
Mon, 10 Jun 2013 16:49:23 -0400
Christine Day, the CEO of the workout clothing giant Lululemon, announced Monday afternoon during a company earnings call that she's stepping down after a costly, offensive scandal in which her company failed to do what it does best: make workout pants that people feel comfortable in.
Thu, 06 Jun 2013 09:55:09 -0400
(Reuters) - Tiger Woods has become the world's best-paid athlete once again after reclaiming golf's number one ranking, according to business magazine Forbes. Woods had total earnings of $78 million over the past year - $65 million in endorsements and the remainder from appearance and prize money, Forbes said in its annual sporting survey. The American returned to the top of golf's rankings in March for the first time since October 2010. ...
Thu, 06 Jun 2013 09:51:37 -0400
June 6 (Reuters) - Tiger Woods has become the world's best-paid athlete once again after reclaiming golf's number one ranking, according to business magazine Forbes. Woods had total earnings of $78 million over the past year - $65 million in endorsements and the remainder from appearance and prize money, Forbes said in its annual sporting survey (). The American returned to the top of golf's rankings in March for the first time since October 2010. ...
Tue, 04 Jun 2013 03:54:07 -0400
AMSTERDAM (AP) — Royal Ahold NV, the Dutch owner of U.S. grocery chains Stop & Shop and Giant, says its first-quarter earnings rose sharply on the sale of the Scandinavian unit ICA. It said Tuesday underlying business was flat as shrinking margins offset rising sales.
Tue, 04 Jun 2013 02:45:05 -0400
JOHANNESBURG (Reuters) - South Africa's second-largest drug firm, Adcock Ingram, reported a 5 percent decline in first-half profit on Tuesday, hit by the weaker rand and as debt-laden consumers opted for cheaper medicines. Adcock, which is talks with several players looking to buy all or part of it, said diluted headline earnings per share totalled 188 cents in the six months to end-March compared with 198.4 cents a year earlier. Headline EPS, South Africa's main profit gauge, excludes certain one-off items. ...
Fri, 31 May 2013 06:52:06 -0400
KIGALI (Reuters) - Rwanda's Bank of Kigali pretax profits rose 8.8 percent year-on-year in the first quarter to $6.8 million and the bank expects the opening of an office in Kenya to help it tap more opportunities. The bank, which is the largest in the small African state by assets and has a 34 percent market share, said its net interest income rose 48 percent from a year ago to $11.6 million as loans expanded. ...
Thu, 30 May 2013 08:51:36 -0400
JOHANNESBURG (Reuters) - The Foschini Group, South Africa's No.3 listed clothing retailer, missed estimates with an 11 percent rise in full-year profit as debt-laden consumers cut back on spending. Foschini, which also sells jewellery and furniture, said diluted headline earnings per share totalled 851.3 cents in the year to end-March compared with 766.1 cents a year earlier. The result fell short of the 859 cents estimatd by Thomson Reuters StarMine, which gives more weight to forecasts from historically accurate analysts. ...
Thu, 30 May 2013 07:09:06 -0400
By Malathi Nayak SAN FRANCISCO (Reuters) - Glu Mobile Inc will allow U.S. players to win cash in one of its mobile games starting next month, betting that cash-based contests will be a winning formula to expand revenue in the fledgling but potentially high-growth mobile gaming sector. The fast-growing mobile game developer, which has struggled to report a profit since it went public in 2007, said it entered into a partnership with San Francisco startup Skillz that provides technology enabling real-money earnings from skill-based mobile games through cash tournaments. ...
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