U.S. stock index futures tumbled on Thursday, as the deadly coronavirus epidemic fanned concerns of a further slowdown in economic growth in China, with a mixed batch of corporate earnings from U.S. technology firms also weighing on sentiment.
(Bloomberg) — Verizon Communications Inc. missed profit estimates while adding more than a million new wireless subscribers, a possible precursor to challenges ahead as the company races against rivals in a costly nationwide expansion of next-generation 5G wireless services.Earnings, excluding some items, totaled $1.13 a share. The number of regular monthly wireless subscribers rose by 1.25 million, which includes new phones, hot spots, smartwatches and other connected devices, according to the statement. Analysts expected earnings of $1.15 a share and 1.23 million new wireless subscribers. Revenue of $34.8 billion was ahead of estimates.Verizon’s gains in regular monthly subscribers were boosted …read more […]
Spirit AeroSystems said on Thursday it would gradually restart production of parts for Boeing Co’s 737 MAX jets and deliver 216 shipsets in 2020.
The company’s biggest customer, Boeing, said on Wednesday it was expecting to resume MAX production ahead of a regulatory approval for the jet’s return to service by mid-2020. Spirit also replaced its Chief Financial Officer Jose Garcia with Mark Suchinski, who was vice president of quality at the company, after identifying non-compliance in certain accounting processes. Spirit’s stock fell more than 7% in premarket trade. …read more […]
Headlines moving the stock market in real time. …read more […]
Blackstone Group Inc, the world’s largest alternative asset manager, said on Thursday its fourth-quarter distributable earnings rose 27 percent year-on-year, as strong growth in its real estate and hedge funds businesses offset declines in its private equity and credit divisions. During the quarter, Blackstone sold off its remaining 10.8 percent stake in Invitation Homes, the largest single-family rental home operator in the U.S., raking in more than $1.7 billion. The buyout firm also completed the sale of its 61 percent stake in Swedish property firm Hembla AB to German real estate giant Vonovia SE for about $1.3 billion. …read more […]
Stocks across the world tumbled on Thursday as the death toll from a virus spreading in China reached 170, forcing airlines to cut flights and stores to close as the potential economic hit from the outbreak came into focus.
Verizon Communications Inc on Thursday added more monthly mobile phone subscribers than expected as it benefited from including Disney+ streaming service with some of its plans.
Coca-Cola Co on Thursday reported better-than-expected quarterly sales driven by demand for its sparkling soft drinks, teas and coffees in North America and emerging markets.
Renault and Nissan can improve their alliance without altering ownership, the chairman of the Franco-Japanese partnership said on Thursday, rolling back from a previous push toward a full-blown merger that had rankled Nissan.
Coca-Cola earnings are out. Here’s the analysis you need to know. …read more […]
(Bloomberg) — United Parcel Service Inc.’s profit outlook fell short of analyst estimates, held back by declines in global industrial production and spending to cope with soaring e-commerce deliveries.Earnings will be $7.76 to $8.06 a share this year, UPS said in a statement Thursday as it reported earnings. Analysts had predicted $8.07 a share on average, higher than the $7.91 midpoint of the UPS forecast.Key InsightsWhile the forecast was weak, UPS logged a third consecutive quarter of gains in profit margins. That reversed a slide that began at the end of 2016, when rising e-commerce deliveries started jacked up costs. …read more […]
The largest U.S. wireless carrier by subscribers has cut prices and made its offerings more attractive by bundling services such as Apple Music to battle intense competition in the industry. In October, Verizon said it would offer a year-long subscription to Walt Disney Co’s Disney+ with its unlimited plans, a move aimed at rival AT&T Inc, which is expected to launch its own streaming platform, HBO Max, in May. Revenue in Verizon’s media unit, which includes Yahoo, HuffPost and TechCrunch, was nearly flat at $2.1 billion from a year earlier. …read more […]
At the same time, rival PepsiCo is preparing for the launch of its own coffee-cola beverage that has double the caffeine punch as regular soda. Coca-Cola sells the product in some international markets and is yet to make a U.S. entry. Coca-Cola’s shares were up about 2% in trading before the bell. …read more […]
NBCUniversal was fined 14.3 million euros ($15.86 million) by the European Union on Thursday for illegally restricting sales of merchandise linked to films such as “Minions”, as the bloc cracks down on practices blocking cross-border online trade.
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