Chinese telecoms equipment maker Huawei [HWT.UL] on Wednesday welcomed the European Union’s 5G guidelines that are likely to limit its business in Europe, but which fall short of a U.S. call for a total ban.
(Bloomberg) — General Electric Co. jumped after the company said cash from its manufacturing operations will probably rise in 2020, supporting Chief Executive Officer Larry Culp’s effort to rescue the iconic maker of jet engines and power equipment.Industrial free cash flow, a closely watched metric that’s viewed as an indicator of earnings potential, is projected to climb to as much as $4 billion this year from $2.32 billion in 2019, GE said in a statement Wednesday as it reported results. Wall Street had been expecting $2.2 billion for this year.“We are solidifying our financial position,” Culp said in the statement.The …read more […]
Huawei, the leading maker of telecoms network equipment, denied a newspaper report on Wednesday which said the German government was in possession of evidence that it had cooperated with Chinese intelligence.
Victoria’s Secret-owner L Brands Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall street Journal reported on Wednesday.
Oil prices rose for a second day on Wednesday, recouping some losses after a five-day rout, on talk that OPEC could extend oil output cuts if a new coronavirus hurts demand and data showing a decline in U.S. stockpiles.
McDonald’s reported earnings and revenue that beat Wall Street estimates during its fourth quarter. …read more […]
McDonald’s Corp on Wednesday reported quarterly comparable sales growth above Wall Street expectations, as the world’s largest burger chain benefited from its revamped stores, new delivery partnerships and higher menu prices.
(Bloomberg) — AT&T Inc. topped earnings estimates as cost cuts helped offset steep TV-subscriber losses and higher spending on its media business, a positive sign as the company tries to mend its balance sheet and turn attention to the launch of its HBO Max streaming service.Fourth-quarter earnings excluding one-time items were 89 cents a share. Analysts had predicted 87 cents, according to estimates compiled by Bloomberg. The company, which operates DirecTV, the largest U.S. TV service, lost 1.2 million subscribers, more than the 640,000 decline analysts expected.See more details.Key InsightsThe record annual loss of 4.1 million U.S. TV subscribers that …read more […]
General Electric Co on Wednesday reported a 30% jump in quarterly profit that beat analysts’ estimates, boosted by its aviation business, but forecast 2020 profit below estimates.
When one thinks of technology, one may think of things like televisions. iPhones. Computers. And the internet. One may even be thinking about today’s most innovative technologies like blockchain and artificial intelligence. One may be less inclined to be thinking about matter working on an atomic level. But for those keeping an eye on nanotechnology stocks, atomic level matter is precisely what the tech stock investor has in mind.
Nanoetchnology is a tech innovation conducted at the nanoscale. The nanoscale is between one to 100 nanometers. To think about this in more concrete terms, a nanometer is 1/90,000 the width of …read more […]
Chemicals maker Dow Inc reported better-than-expected quarterly profit and revenue on Wednesday, helped by higher volumes in Asia as well as cost cuts, and pointed to a recovery in demand this year on the back of easing trade tensions.
(Bloomberg) — Apple Inc. reported holiday-quarter revenue that beat Wall Street expectations on rebounding iPhone demand and surging sales of wearable devices. Shares jumped in extended trading, setting up the stock to open at a record.The results are a remarkable comeback from a year ago, when the most valuable technology company missed its own targets.A sales forecast for the current quarter also exceeded analysts’ projections, pushing Apple’s stock about 2.1% higher in extended trading. Services revenue came in slightly below expectations.The Cupertino, California-based company reported $91.8 billion in revenue for the fiscal first quarter, up 9% from a year earlier. …read more […]
Dow has been cutting costs to offset a drop in demand for chemicals used in plastics, building materials and paints, amid a global slowdown. Dow, spun off in April after chemical conglomerate DowDuPont split into three, posted operating earnings of 78 cents per share, excluding certain items. …read more […]
(Bloomberg) — Enbridge Inc.’s proposal to convert its Mainline crude pipeline network to long-term contracts is hitting a fresh round of opposition, with Canada’s largest oil producer asking regulators to reject the plan.Canadian Natural Resources Ltd. said in a filing with the Canada Energy Regulator on Tuesday that Enbridge’s bid to change the Mainline from monthly service to long-term contracts is an abuse of market power and isn’t in the public interest. The producer asked the regulator to split its review of the proposal into two parts, with the first addressing whether the conversion should even be allowed.The opposition signals …read more […]
The German government is in possession of evidence that Huawei, the leading maker of telecoms network equipment, has collaborated with Chinese intelligence, the Handelsblatt daily reported on Wednesday.
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