Trading Ideas
Year: 2020
Trading Ideas
WestRock Reports Quarterly Sales Miss, Slashes Dividend Payout By 57%
WestRock LLC (WRK) second-quarter revenue dropped below market estimates as the packaging company announced $1 billion in cost-cutting measures and reduced its dividend to preserve cash amid the coronavirus pandemic.Net sales declined 3.7% to $4.45 billion in the second quarter ended March 31 year-on-year and came in $50 million below analysts’ estimates. Adjusted earnings per share amounted to $0.67 beating market expectations of $0.61 per share.WestRock lowered its annual dividend to $0.80 from $1.86 previously, which means its quarterly dividend was reduced to $0.20 from $0.465. Shares dropped 5.6% to $28.60 in pre-market U.S. trading.“In the second quarter, WestRock delivered …read more […]
Business News
Lufthansa has no plans to buy rivals hit by coronavirus crisis: CEO
Lufthansa is not planning to buy rivals weakened by the coronavirus crisis, Chief Executive Carsten Spohr told shareholders at the company’s virtual annual general meeting on Tuesday.
Business News
Virgin Atlantic to cut 3,000 jobs, stop using Gatwick: Sky News
Virgin Atlantic is to cut just over 3,000 jobs, or up to a third of its workforce, and stop using Gatwick Airport as part of its battle to survive, Sky News reported on Tuesday.
Trading Ideas
Carnival Plans to Set Sail Again, or Does It? Behind the Confusion and Controversy
Carnival Cruise Line on Monday announced a partial return to North American cruising for eight of its vessels on Aug. 1. The resumption would be just several days after the Centers for Disease Control’s current no sail order is set to expire. The eight vessels would operate out of the home ports of Miami, Port […] …read more […]
Business News
Fiat Chrysler plunges to loss, scraps outlook on virus crisis
Fiat Chrysler Automobiles (FCA) plunged to a first-quarter loss of $1.8 billion and scrapped its full-year earnings forecast on Tuesday, as the automaker grapples with a coronavirus crisis that has hammered production and sales.
Business News
France’s Lagardere sees off activist Amber in shareholder showdown
French publishing and media group Lagardere on Tuesday fended off Amber Capital’s most daring attempt yet to shake up governance at the company, after shareholders rejected the activist investor’s call to replace the supervisory board.
Business News
Futures climb on oil gains, easing of lockdowns
U.S. stock index futures rose on Tuesday as oil prices staged a recovery and a slew of countries eased coronavirus-led restrictions in an attempt to revive their economies.
Trading Ideas
Business News
Thomson Reuters cuts sales outlook, narrowly misses earnings
Thomson Reuters reported higher quarterly sales and operating profit that fell slightly short of Wall Street estimates on Tuesday, while cutting its full-year sales outlook due to disruption to the global economy from the coronavirus crisis.
Business News
Fiat Chrysler turns to 1.7 billion euro loss in first quarter on virus crisis
Fiat Chrysler said on Tuesday it turned to a net loss in the first quarter as a consequence of the crisis triggered by the spread of the coronavirus.
Business News
Judge questions VW’s defence in landmark case over diesel damages
A German federal court judge cast doubt on Volkswagen’s reasoning after the carmaker urged the court to dismiss a claim for damages brought by an owner of a diesel powered VW Sharan family van.
Business News
Carbon emissions cuts do not mean Repsol will exit oil sector: CEO
A target to reduce carbon emissions to net zero by 2050 does not mean Spanish oil and gas firm Repsol will stop producing oil though it will focus on certain projects, Chief Executive Josu Jon Imaz said on Tuesday.
Trading Ideas
Trading Ideas
Fiat Chrysler turns to 1.7 billion euro loss in first quarter on virus crisis
Fiat Chrysler said on Tuesday it turned to a net loss in the first quarter as a consequence of the crisis triggered by the spread of the coronavirus. “The pandemic has had, and continues to have, a significant impact on our operations,” Fiat Chrysler (FCA) said in a statement. The Italian American carmaker said its net loss from continuing operations amounted to 1.69 billion euros ($1.83 billion) in the first quarter of this year. …read more […]