Ralph Lauren Corp reported a 6.5% rise in adjusted quarterly profit on Thursday, driven by tighter cost control and strong demand for its Polo shirts and tweed jackets in Europe and China.
Teva Pharmaceutical Industries nudged up its full-year earnings guidance on Thursday, after reporting a drop in third-quarter profit that broadly met expectations.
The world’s largest generic drugmaker earned 58 cents per diluted share excluding one-time items in the July-September period, down from 68 cents a year earlier. Revenue fell 6% to $4.26 billion due to generic competition for its multiple sclerosis drug Copaxone and declines in sales in the United States, Russia and Japan, although it posted gains in some of its newly launched drugs. Analysts had forecast Israel-based Teva would earn 59 cents a share ex-items on revenue of $4.24 billion, according to I/B/E/S data from Refinitiv. …read more […]
The biggest of Canada’s new brand of marijuana producers will join forces with Toronto-born rap star Drake to launch a fully-licenced joint venture in the city to produce and distribute cannabis, the two sides said on Thursday.
Under the deal, the multi-Grammy award winner will take a 60% stake in a subsidiary of stock-market listed Canopy Growth , which produces cannabis in nearby Scarborough, Ontario. U.S.-listed shares of Canopy , which last year drew a major investment from Corona-brewer Constellation Brands, rose around 3% in early trading. Drake is just the latest of a list of artistes and celebrities who have partnered with Canadian cannabis companies since the country approved the use of recreational marijuana. …read more […]
Global private equity group KKR & Co Inc is targeting a record $15 billion for its new Asia-focused buyout fund, three sources with knowledge of the fundraising plan told Reuters.
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, ‘The possibility of… …read more […]
U.S. stock index futures jumped on Thursday as signs of a U.S.-China trade truce and a fresh batch of earnings reports looked set to restart a rally that has led Wall Street to record highs.
The value of copper exports from the world’s top producer fell by 22% in October to $2.5 billion, driven primarily by falling prices for the red metal. Chile’s copper mines have mostly maintained production and kept operations running normally despite weeks of unrest in the country, industry insiders told Reuters this week, though there have been incidents at some operations and uncertainty lingers. The value of lithium carbonate exports, meanwhile, fell 9% to $73 million in October. …read more […]
Lufthansa is ready to go into arbitration to resolve a long-running staff dispute, the CEO of Germany’s largest airline said on Thursday, as a walkout by flight attendants disrupted travel plans of tens of thousands of passengers.
German airline Lufthansa announced plans on Thursday to cut costs at its Austrian Airlines, Brussels Airlines and Lufthansa Cargo businesses to revive profits but faces a fresh challenge to its efforts with a cabin crew strike this week.
U.S. retailers are rushing in with faster-than-ever delivery deals and earlier Christmas promotions in hopes of easing the impact of this year’s shorter holiday selling season, a period that can be make-or-break for retailers.
The Russia-China Investment Fund is working to attract Chinese investors for Saudi Aramco’s planned initial public offering, the head of Russia’s RDIF sovereign wealth fund said on Thursday.
Brazil airline Azul SA reported a third-quarter net loss of 438 million reais, taking a hit from the depreciation of the Brazilian real, the company said on Thursday. Azul, Brazil’s third biggest airline, is expanding rapidly and, like other airlines in the country, has felt the impact of currency fluctuations because much of their expenses — especially aircraft rent, airport fees and fuel — are denominated in U.S. dollars. The carrier updated its operating margin forecast to 18%, from a previous range between 18% and 20% for the year. …read more […]
Lawyers for New York state and Exxon Mobil Corp will make closing arguments on Friday in the closely watched trial in the state’s lawsuit charging that the oil major hid from its investors the true costs of regulations aimed at curbing climate change. The case, filed in October 2018 in Manhattan state court, was the first of several climate-related lawsuits against major oil companies to go to trial. It featured testimony from investors, experts and former Exxon CEO Rex Tillerson, who flatly denied the allegations against the company. …read more […]
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
