Posts filtered by tags: Refinitiv[x]


 

Home Depot slides as lack of future profit guidance outweighs earnings beat

Nicholas Kamm/AFP via Getty Images Shares of Home Depot declined by over 6% on Tuesday as the company opted not to provide profit guidance for 2021. The company reported earnings that grew 16% to $2.65 per share, higher than analysts' expectations. Revenue, meanwhile, jumped 25% to $32.26 billion, also higher than the $30.7 billion that analysts expected.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Shares of Home Depot slipped  as much as 6% on Tuesday as the...
Tags: Home Depot, Mexico, US, Trends, Markets, Earnings, Trading, Stock Market, Pandemic, Nicholas Kamm, Refinitiv, Isabelle Lee, Refinitiv Revenue, Richard McPhail, Home Depot stock, Getty Images Shares of Home Depot


MIDEAST STOCKS-Most major Gulf markets gain in early trade; #AbuDhabi dips | Nasdaq

MIDEAST STOCKS-Most major Gulf markets gain in early trade; Abu Dhabi dips | Nasdaq Most major stock markets in the Gulf traded higher on Wednesday, extending gains from the previous day, with Saudi Arabia on track to extend gains for fifth consecutive session.Saudi Arabia's benchmark index .TASI rose 0.5%, boosted by a 3.9% jump in National Commercial Bank (NCB) 1180.SE after it reported higher-than-expected full year profit.NCB, the kingdom's biggest lender, posted a net profit of 11.44 billio...
Tags: Travel, Saudi Arabia, Qatar, Middle East, Dubai, Abu Dhabi, Gulf, Adi, NCB, Tasi, Rupert Neil Bumfrey, Industries Qatar, First Abu Dhabi Bank, Emaar Properties EMAR DU, Refinitiv, Emirates NBD Bank ENBD


IBM tumbles 10% in early trading after it misses revenue estimates in 4th-quarter earnings

Sergio Perez/Reuters The IBM stock price fell after it said the COVID-19 pandemic hit its software revenues The IBM stock price slid 10.38% in pre-market trading after it missed Q4 estimates. IBM's software revenue fell thanks to client uncertainty during the COVID pandemic. Its cloud revenue rose 10% but investors were not impressed by the final-quarter figures. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.  IBM shares tumbled by 10.38% in early trading on Frid...
Tags: Trends, Netflix, Ibm, Goldman, Sergio Pérez, Reuters, Winklevoss, Harry Robertson, Arvind Krishna, Refinitiv, Things Before the Opening Bell IBM


US stocks slip as coronavirus concerns remain elevated

REUTERS/Brendan McDermid US stocks pulled back from record closing-highs on Friday as investors remained concerned about the pandemic.President Joe Biden warned the US could see 100,000 deaths from COVID-19 in the next month.IBM shares tumbled after the computing giant's fourth-quarter earnings missed analyst expectations.Watch major indexes update live here.US stocks pulled back from record closing-highs Friday morning, with the Dow Jones shedding nearly 200 points as investors weighed st...
Tags: US, Trends, Joe Biden, Intel, Treasury, Ibm, Nasdaq, Dow Jones, Buffett, Lauren, Brendan Mcdermid, Census Bureau, IHS Markit, Fundstrat, Refinitiv, Emily Graffeo


IBM tumbles 7% in pre-market trading after it misses revenue estimates in 4th-quarter earnings

Sergio Perez/Reuters The IBM stock price fell after it said the COVID-19 pandemic hit its software revenues The IBM stock price slid 7.37% in pre-market trading after it missed Q4 estimates. IBM's software revenue fell thanks to client uncertainty during the COVID pandemic. Its cloud revenue rose 10% but investors were not impressed by the final-quarter figures. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.  IBM shares tumbled by more than 7% in pre-market tradi...
Tags: Trends, Netflix, Ibm, Goldman, Sergio Pérez, Reuters, Winklevoss, Harry Robertson, Arvind Krishna, Refinitiv, Things Before the Opening Bell IBM


A year of lockdowns can't take the shine off Goldmans Sachs profits

Profits at the bank are down less than $1bn even in a year when alleged scandal in Malaysia added to Covid woesWhat is $900m to a Wall Street giant like Goldman Sachs? Relatively little, when it counts the drop in profits for a year of record-setting market swings and economic turmoil, all sparked by a pandemic.The firm should regard itself as lucky to be poised for profits of about $7bn (£5bn) for the whole of 2020. That average analyst forecast, compiled by Refinitiv, is a mere 11% drop from t...
Tags: Business, Banking, Malaysia, Goldman Sachs, Refinitiv, Goldmans Sachs, Coronavirus


The EU gives London Stock Exchange the green light for a $27 billion takeover of data company Refinitiv

The London Stock Exchange Group offices are seen in the City of London, Britain. Reuters The European Commission said Wednesday it has approved the London Stock Exchange Group's (LSEG) acquisition of data company Refinitiv for $27 billion. The deal to buy Refinitiv is subject to a number of conditions, including the sale of LSEG's Borsa Italiana operations. "The Commission therefore concluded that the transaction, as modified by the commitments, would no longer raise competition concerns,"...
Tags: UK, Trends, Eu, London Stock Exchange, European Union, Commission, European Commission, Lse, Margrethe Vestager, London Stock Exchange Group, LSEG, Borsa Italiana, Refinitiv, Kate Duffy Reuters, LSE Group LSEG, LCH Swapclear


M&A deals involving MENA hit $70.3bln - Refinitiv | ZAWYA MENA Edition

M&A deals involving MENA hit $70.3bln - Refinitiv | ZAWYA MENA Edition The value of announced M&A transactions with any MENA involvement reached $70.3 billion during 2020, according to global data provider Refinitiv.This makes 2020 the fourth highest annual total of all time, despite falling 47 percent in value from the record high achieved in 2019 with Saudi Aramco’s agreement to buy a stake in Saudi Basic Industries Corporation (SABIC)Aramco acquired 70 percent stake in SABIC from the Public I...


HRH The Prince of Wales unveils new sustainability charter, backed by the likes of Bank of America and AstraZeneca

Britain's Prince Charles, Prince of Wales, delivers a speech at the World Economic Forum during the World Economic Forum (WEF) annual meeting in Davos, on January 22, 2020. Photo by FABRICE COFFRINI/AFP via Getty Images His Royal Highness The Prince of Wales announced Sunday the creation of the 'Terra Nova' - a charter giving businesses a roadmap to a more sustainable future. The charter is backed by some of the world's biggest businesses, including: Bank of America, BlackRock, Unileve...
Tags: Apple, Wales, Trends, Markets, Tesla, Sustainability, Bank Of America, Earth, EFI, Davos, Britain, Paris, Hsbc, Prince Charles, Astrazeneca, Bp


Stitch Fix shares rise nearly 50% in early trading after yesterday’s earnings beat

Investors are buying into the shares of publicly traded Stitch Fix, the personal styling online clothes store, after it reported much better-than-expected earnings yesterday. Shares of the company’s stock were up $16.86, or 47.05%, in early trading on the Nasdaq stock exchange. For the company’s fiscal first quarter, which ends Oct. 31, Stitch Fix reported earnings of 9 cents a share. The company booked $490.4 million in revenue, a beat on analysts’ expectations that the company would see $48...
Tags: TC, Tech, Nasdaq, Stitch Fix, Lake, Katrina Lake, Refinitiv


S&P Global strikes all-stock deal worth $44 billion to buy London-based financial data provider IHS Markit

Reuters S&P Global has struck a deal to buy IHS Markit for $44 billion, the companies announced Monday.The mega deal marks the largest transaction on Wall Street this year, according to Dealogic.Upon completion of the deal, current S&P Global shareholders will own about 68% of the combined company on a fully diluted basis, while IHS Markit shareholders will own about 32%.The deal is expected to close in the second half of 2021.The combined group expects to generate annual free cash flow ex...
Tags: UK, London, Wall Street, Softbank, Global, Trends, Markets, Bloomberg, Analytics, Credit Suisse, M&a, Nvidia, Deal, ARM Holdings, Morgan Stanley, ESG


S&P Global is close to buying London-based financial data provider IHS Markit for $44 billion, report says

Reuters S&P Global is in advanced talks to buy IHS Markit for $44 billion, the Wall Street Journal reported.The mega deal would mark the largest transaction on Wall Street this year, according to Dealogic.Talks could fall apart as the deal hasn't been finalized. IHS Markit would be open to a rival offer if there is a higher bidder.S&P Global has been looking to bolster its data business since its $2.2 billion acquisition of SNL Financial in 2015.Visit Business Insider's homepage for more s...
Tags: UK, London, Wall Street, Softbank, Trends, Markets, Bloomberg, Analytics, M&a, Nvidia, Deal, ARM Holdings, Morgan Stanley, ESG, Wall Street Journal, Platts


#Saudi Aramco third-quarter profit slumps 44.6% as pandemic chokes demand | Reuters

Saudi Aramco third-quarter profit slumps 44.6% as pandemic chokes demand | Reuters Saudi Arabian state oil giant Aramco 2222.SE on Tuesday reported a 44.6% drop in third-quarter net profit as the coronavirus crisis continued to choke demand and weigh on crude prices.Share prices of global oil companies have been hammered this year as investors fret over the impact of the pandemic on energy demand and the long-term shift away from fossil fuels.Oil prices have recovered only slightly since tumblin...
Tags: Travel, Shell, Chevron, Exxon, Reuters, Aramco, Saudi Aramco, BP Plc, Rupert Neil Bumfrey, Amin Nasser, Refinitiv


Wall Street Week Ahead: More U.S. companies offer earnings guidance despite pandemic

With earnings season in full swing, more companies are again offering earnings guidance, signaling to investors that some corporations are adapting to uncertainty about a global pandemic that may extend deep into next year. Overall, 73 companies in the S&P 500 index have offered guidance this quarter so far, up from last quarter's 65 pre-announcements but well below the 170 companies that typically offer guidance, according to Refinitiv data. The companies offering guidance are giving the most...
Tags: News, Refinitiv


Wells Fargo swings to profit as coronavirus blow softens

The San Francisco-based lender earned $2.04 billion, or 42 cents per share, missing the 45 cents that Wall Street analysts surveyed by Refinitiv were expecting. The results were an improvement from last quarter’s $2.38 billion loss, but marked a 56% decline from the $4.61 billion earned a year ago.
Tags: Finance, San Francisco, Article, Wells Fargo, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/earnings, Fox-business/markets/us-markets, fox-business/industries/Financials, Refinitiv, Jonathan Garber, Fox-business/organization/wells-fargo, Fox-business/topic/coronavirus, 6f3e1e72-c260-501f-af64-b50b1fe58126


Wells Fargo overcomes pandemic, fake-account fallout in return to profitability

The San Francisco-based lender earned $2.04 billion, or 42 cents per share, missing the 45 cents that Wall Street analysts surveyed by Refinitiv were expecting. The results were an improvement from last quarter’s $2.38 billion loss, but marked a 56% decline from the $4.61 billion earned a year ago.
Tags: Finance, San Francisco, Article, Wells Fargo, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/earnings, Fox-business/markets/us-markets, fox-business/industries/Financials, Refinitiv, Jonathan Garber, Fox-business/organization/wells-fargo, Fox-business/topic/coronavirus, 6f3e1e72-c260-501f-af64-b50b1fe58126


New PE recruiting timelines — Barclays trading rout — Alts gatekeepers

Recruiting for private-equity associates is looking a whole lot different this year. As Reed Alexander and Casey Sullivan reported, private-equity firms and headhunters are backing off from going after young investment bankers in their first few weeks on the job — and setting brand new timelines for when they'll start.It's a big reversal after years of one-upping to nab top talent out of investment banks.( PE associate recruiting started in mid-September last year, marking its earliest-ever kick...
Tags: Amazon, Facebook, New York, Trends, Bank Of America, Barclays, Manhattan, SEC, Goldman Sachs, Fintech, General Atlantic, Wells Fargo, Nyse, Reuters, Hearst, West Side


Private-equity recruiting backs off — Barclays trading rout — Alts gatekeepers

 Recruiting for private-equity associates is looking a whole lot different this year. As Reed Alexander and Casey Sullivan reported, private-equity firms and headhunters are backing off from going after young investment bankers in their first few weeks on the job — and setting brand new timelines for the ultra-competitive process.It's a big reversal after years of one-upping to nab top talent out of investment banks. PE associate recruiting had started in mid-September last year, marking its ear...
Tags: Amazon, Facebook, New York, Trends, Bank Of America, Barclays, Manhattan, SEC, Goldman Sachs, Fintech, General Atlantic, Craig, Wells Fargo, Nyse, Reuters, Hearst


Wells Fargo backlash — Refinitiv CEO embraces flexible work — Hotel lenders look to dump loans

Tom Williams/CQ-Roll Call/Reuters Yesterday I wrote about a Reuters report published on Tuesday about comments Wells Fargo's CEO had made over the summer about hiring minority candidates and the "very limited pool of black talent to recruit from."Charlie Scharf, the bank's chief executive, issued a company-wide memo on Wednesday apologizing for those comments, but the damage was already done for many. Scharf and the bank have received backlash from seemingly every corner of the internet, i...
Tags: Trends, Atlantic, General Atlantic, Craig, Wells Fargo, Citi, Reuters, SPAC, Sen Sherrod Brown, Charlie Scharf, David Craig, JPMorgan Bank of America, Big Law, Hyliion, Scharf, Refinitiv


H&M reports $229 million in quarterly profits — 10 times higher than analysts forecast

REUTERS/Mike Segar/File Photo Swedish fashion retailer H&M on Tuesday reported around $229 million in pre-tax profit for the June to August quarter. Analysts had forecast a $21.8 million profit, according to Refinitiv's SmartEstimate model. Sales were still 19% down on the same period in 2019. Visit Business Insider's homepage for more stories. Swedish fashion giant H&M Group on Tuesday reported quarterly profits more than 10 times higher than analysts' forecasts.The world's second-bigges...
Tags: Trends, Mike Segar, Refinitiv, fashion giant H M Group, Grace Dean Reuters


First Half 2020 M&A Surprisingly Active

While there were significant regional differences, first half 2020 M&A transaction numbers are in and they are better than many would expect. Refinitiv reports there were 20,728 deals under US$500 million closed globally and 5,152 deals in that size range closed in the US. As the chart shows, the second quarter was lower than the first but also not by as much as many might have expected. Refinitiv reported that worldwide M&A total value declined by 15% compared to the first half of 2019. In the...
Tags: Europe, Business, US, M&a, Mergers, Mergers and Acquisitions, Corporate Finance, Corporate Finance Associates, Refinitiv, Acquistitions, Merger-and-acquisition, Mergers-acquisitions


We got an exclusive look at the pitch deck Icelandic fintech Lucinity used to raise $6.1 million during the coronavirus to 'make money good'

Icelandic fintech startup Lucinity has raised $6.1 million in fresh funding from Karma Ventures and byFounders.  The anti-money laundering company uses a cloud-based integration to help financial institutions better understand transaction data.  "Not many banks wake up planning to facilitate money laundering but their tools to prevent it are limited," Lucinity founder and CEO Gudmundur Kristjansson. "That's why we want to 'make money good' using our AI to help banks to ensure that money they a...
Tags: Europe, London, US, Trends, Karma Ventures, Refinitiv, COVID, Crowberry Capital, Lucinity, Gudmundur Kristjansson, Preceptor Capital, Kristjansson


Wall Street Insider: The Mooch's leaked memo to Merrill — Boutique bank exits — Hackers target PE

  Welcome to Wall Street Insider, where we take you behind the scenes of the finance team's biggest scoops and deep dives from the past week.  If you aren't yet a subscriber to Wall Street Insider, you can sign up here. Dealmaking activity has fallen off a cliff this year, as executives focus on steering their existing businesses through the havoc caused by the coronavirus crisis instead of seeking out new deals. Data from Refinitiv released this week showed that the drop in activity was more pr...
Tags: Apple, Time Warner, San Francisco, Trends, Bank Of America, Washington Dc, Nba, Merrill Lynch, Holland, Fidelity, Goldman Sachs, Las Vegas, Morgan Stanley, Goldman, ESG, Alex


Bloomberg just slashed the time it takes for customers to get data from months to hours and it shows Wall Street's insatiable demand for information to trade on

Bloomberg LP is upgrading how quickly customers can access data via Enterprise Access Point, its web-based platform for data products. Gerard Francis, global head of enterprise data at Bloomberg, told Business Insider what typically takes customers "in a good situation" at least three months has been condensed to a few hours. The data giant has also allowed users to customize datasets on their own, freeing up Bloomberg to focus on more high-value projects, he added. Click here for more BI Prim...
Tags: Trends, Bloomberg, Francis, Bloomberg LP, Goldman Sachs Here, Refinitiv, Gerard Francis


Bloomberg just added a 'click to buy' data feature for customers that streamlines months of negotiating and testing down to a few hours

Bloomberg LP is upgrading how quickly customers can access data via Enterprise Access Point, its web-based platform for data products. Gerard Francis, global head of enterprise data at Bloomberg, told Business Insider what typically takes customers "in a good situation" at least three months has been condensed to a few hours. The data giant has also allowed users to customize datasets on their own, freeing up Bloomberg to focus on more high-value projects, he added. Click here for more BI Prim...
Tags: Trends, Bloomberg, Francis, Bloomberg LP, Goldman Sachs Here, Refinitiv, Gerard Francis


Bloomberg is eyeing big changes to its iconic terminals to make work-from-home easier. The exec leading its strategy laid out how he's rethinking screen space and mobile features.

Mark Flatman, global head of core terminal at Bloomberg, told Business Insider the financial technology giant is considering ways to revamp the ubiquitous terminal. One particular area of focus for Flatman and his team has been screen space, as many customers aren't working with the typical four-screen display.  Another area that has gotten increased attention is mobile, where usage has jumped.  Click her for more BI Prime stories. As remote work becomes a long-term reality, a technology stap...
Tags: Trends, Bloomberg, Bloomberg LP, Refinitiv, Mark Flatman, Flatman


GSK sells $3.35 billion stake in Hindustan Unilever

GlaxoSmithKline said on Thursday it sold its stake in Unilever's Indian business for $3.35 billion, which Refinitiv says is the largest block trade ever to have been carried out in India.
Tags: Money, Unilever, businessNews, GlaxoSmithKline, GSK, Hindustan Unilever, Refinitiv


Oil prices snap 5-day winning streak

U.S. oil inventories rose by 4.6 million barrels in the week ended May 1, according to the Energy Information Administration, less than the 7.76 million-barrel build that analysts surveyed by Refinitiv were expecting.
Tags: Finance, Article, Energy Information Administration, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/oil, Fox-business/markets/commodities, Refinitiv, Jonathan Garber, Fox-business/markets/futures-commodities, B0b013ae-a55e-54b7-aea2-768f5964cc0b


Oil prices tumble, putting 5-day winning streak in jeopardy

U.S. oil inventories rose by 4.6 million barrels in the week ended May 1, according to the Energy Information Administration, less than the 7.76 million-barrel build that analysts surveyed by Refinitiv were expecting.
Tags: Finance, Article, Energy Information Administration, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/oil, Fox-business/markets/commodities, Refinitiv, Jonathan Garber, Fox-business/markets/futures-commodities, B0b013ae-a55e-54b7-aea2-768f5964cc0b


Global banks rake in record corporate bond fees amid pandemic

Investment banks globally raked in record fee income from managing corporate bond issues in the first four months of the year, data from Refinitiv showed, as companies scrambled to raise money to help them through the COVID-19 crisis.
Tags: Money, businessNews, Refinitiv