Citigroup tops profit estimates on trading bounce July 14, 2020 Citigroup beat analysts’ estimates for profit in the second quarter as its trading desks cashed in on the market volatility caused by the coronavirus outbreak. The uptick allowed it to set aside $5.6bn for a potential surge in loan defaults. The New York-based bank reported a profit of $1.32bn for the three months to the [...]
UK M&A falls to lowest monthly total in almost 35 years April 29, 2020 UK M&A has plunged to its lowest monthly level in almost 35 years after the coronavirus pandemic smashed business confidence and sent the economy into a deep freeze. Deal value involving a UK target totalled £409.1m from 35 deals in April – its lowest since September 1985 when nine deals worth £269.5m were struck, according [...]
Snap beats estimates after short-lived coronavirus bounce July 21, 2020 Snap has surpassed analyst revenue estimates for its second quarter, as advertisers cashed in on an initial boom in user numbers during the pandemic. The Snapchat parent said its daily active users (DAUs), which advertisers watch to measure its growth, rose 17 per cent to 238m in the three months to the end of June. [...]
Savers predict double-digit investment returns: is that a danger sign? August 20, 2021 Savers today are more optimistic than at any point in the past five years, expecting their future investment returns to average more than 11 per cent per year. They are more likely to invest further, and to check up on their investments more frequently – but most striking of all they expect higher future returns. [...]
Google parent Alphabet sees revenue fall for first time ever July 30, 2020 Google parent Alphabet saw revenue fall for the first time in its history today, although it beat analyst expectations for its second quarter earnings. Revenue fell to $38.3bn from $38.9bn in the second quarter, compared to Refinitiv estimates of $37.4bn. It also beat expectations for earnings per share, which came in at $10.13, instead of [...]
Software glitch caused trading outage on European exchanges, says Deutsche Borse July 1, 2020 The reappearance of a software glitch that first surfaced in April was behind a nearly three hour outage on Wednesday on Germany’s electronic trading platform Xetra, exchange operator Deutsche Boerse said. Trading on several European stock exchanges, including Frankfurt and Vienna, was halted this morning following the technical issue. Read more: FTSE 100 subdued as [...]
Tesla shares accelerate as car deliveries top estimates July 2, 2020 Shares in Tesla popped eight per cent as trading began today, after it posted second-quarter delivery numbers that surpassed expectations. Tesla delivered 90,650 vehicles during the quarter, above estimates of 74,130 vehicles, according to Refinitiv data. It delivered 80,050 units of its new Model Y sport utility vehicle and Model 3 sedan for the quarter. [...]
Coronavirus: New York Stock Exchange trading floors reopen May 26, 2020 The New York Stock Exchange (NYSE) will today reopen its trading floors following a two-month closure caused by the coronavirus outbreak. In March the bourse announced it would close its trading floor and move to electronic trading for the first time in its history after one employee and a trader tested positive for Covid-19. In [...]
Tesla cracks revenue record and beats estimates, shares take off October 21, 2020 Tesla on Wednesday reported its fifth consecutive quarterly profit on record revenue of $8.8bn (£6.7bn), boosted by an uptick in vehicle deliveries and sales of environmental regulatory credits to other automakers. The electric car maker also affirmed its target to deliver half a million vehicles by the end of this year, a goal that will [...]
Saudi Aramco profit plunges 73.4 per cent as oil market stumbles August 9, 2020 Saudi state oil group Aramco today reported a 73.4 per cent fall in second-quarter net profit, a steeper drop than analysts had forecast. It also said it expected capital expenditure for 2020 to be at the lower end of a $25bn to $30bn range. The world’s biggest oil exporter said the rapid spread of Covid-19 [...]