Year: 2020

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Inside the Philip Morris campaign to ‘normalize’ a tobacco device

February 21, 2020 admin Comments Off on Inside the Philip Morris campaign to ‘normalize’ a tobacco device

At Germany’s Bambi Awards for the media industry in November, celebrities posed for red-carpet photos against a backdrop of established luxury brands. Alongside the likes of Mercedes-Benz and Swiss watchmaker Chopard was a newer name: IQOS, a “reduced risk” heated-tobacco device sold by cigarette maker Philip Morris International Inc.

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Deere's unexpected rise in quarterly profits sends shares soaring

February 21, 2020 admin Comments Off on Deere's unexpected rise in quarterly profits sends shares soaring

Deere & Co on Friday reported an unexpected increase in first-quarter profit and retained its full-year earnings forecast as signs of stabilization in the U.S. farm sector offset weak demand for construction machines, sending its shares soaring. The farm equipment manufacturer reported net income of $517 million, or $1.63 per share, for the quarter ended Feb. 2, up from $498 million, or $1.54 per share, in the same period last year. The world’s largest farm equipment maker’s shares were last up 9% at $180.75 in pre-market trade. …read more […]

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Royal Bank Earnings Beat Estimates With Dealmaking Bouncing Back

February 21, 2020 admin Comments Off on Royal Bank Earnings Beat Estimates With Dealmaking Bouncing Back

(Bloomberg) — Royal Bank of Canada’s dealmaking division is proving its worth again.A jump in investment-banking fees, higher fixed-income trading revenue and lower provisions helped the bank’s RBC Capital Markets division rebound from back-to-back quarterly profit declines last year, with earnings jumping 35% to C$882 million ($665 million) in the first fiscal quarter.Key InsightsThe improvement helped Royal Bank post earnings that topped estimates, setting a benchmark for the other large Canadian lenders when they begin reporting quarterly results next week. Adjusted per-share earnings totaled C$2.44, beating the C$2.30 average estimate of 14 analysts in a Bloomberg survey.Royal Bank has the …read more […]

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Warren Buffett Poised to Address Missed Deals With Cash Pile Growing

February 21, 2020 admin Comments Off on Warren Buffett Poised to Address Missed Deals With Cash Pile Growing

(Bloomberg) — Warren Buffett tends to rejoice when he sees a company buying back underpriced shares. At his own Berkshire Hathaway Inc., which underperformed the stock market last year by the widest margin in a decade, an increase in repurchases might not be cause for celebration.Buffett has found little success deploying Berkshire’s growing pile of cash. Its last big takeover, a $37.2 billion deal for Precision Castparts Corp., was more than three years ago. This year, the conglomerate was outbid for a tech company. Berkshire’s struggle to find well-priced takeovers led it to open another path for putting money to …read more […]