AstraZeneca, Britain’s second largest drug maker, increased its 2014 sales estimates for the second quarter as positive cash flows from ulcer and heartburn pill kept coming, caused by the late arrival of its Nexium’s generic copies in America.
In May, the drug maker took over a 118-billion-dollar proposal from Pfizer, now expects a low-single-digit revenue growth in consistent exchange rates within the year. The company’s revenue was seen flat previously.
For the third quarter, company sales performance was better than estimates, driven by its Nexium factor.
Pascal Soriot, company CEO said he will maximize the better fiscal outlook in accelerating new drug investments, thus, Soriot has also been fighting hard and proving the company’s robust independent future since his mandate and onwards. The CEO also rejected the mega-merging deal that Pfizer offered.
This year at consistent rates, AstraZeneca expects a 10% drop in its core earnings per share, excluding some items, which is higher than previous expectations, however, compensated by an expected 5% currency hit.
Mark Clark, analyst from Deutsche Bank said market estimates for EPS will drop a few percent for fiscal 2014, and increase slightly in 2015. Additionally, Soriot is gaining recognition for creating the AstraZeneca’s new drug pipeline.
On Thursday, Nvidia reported higher quarterly revenue, beating Wall Street forecast, driven by the company’s recent graphic chips for computers, and processors for cars and data centers.
For the third quarter ending October 26, the company’s revenue was posted at 1.225 billion dollars, up by 16% from the previous quarter, and beating analysts’ average forecast of 1.202 billion dollars.
Nvidia said that for the ongoing quarter, it expects 1.20 billion dollar revenue, adding or deducting 2%. On the other hand, the average estimate of analysts for the fourth quarter was at 1.198 billion dollars.
The company’s net income for the third quarter was 173 million dollars or 31-cent per share, from the 119 million dollars or 20-cent per share the same quarter the previous year. The company has 39 cents non-GAAP earnings for every share.
Nvidia has been struggling in the industry’s increased competition against other chip makers such as Qualcomm, especially products for tablets and smartphones. Thus, the company has escalated its efforts towards using its very own Tegra chips in empowering entertainment, as well as in advancing navigation systems in vehicles for BMW, Tesla, and Volkswagen’s Audi to name a few.
Revenue from its Tegra chips for the third quarter, both for mobile devices and cars jumped 51% to 168 million dollars.
The company’s larger personal computer graphics chips increased 13% to 991 million dollars, while the company shares rose 1.34% in extended trading, closing 0.45% up to 20.22 dollars on the NASDAQ.
Prysmian, based on Italy, and the world’s largest cable maker, posted on Thursday a 20% drop in its 9-month earnings, however, confirmed a full-year regulation for its consolidated profit.
Italy’s Prysmian said economic conditions continuously became difficult as other Latin American nations experienced a slowdown, and the European recovery continued to stumble. Simultaneously, the tensions within the Middle East were damaging the business, making it hard to finish some orders.
The company stated that in order to recover from such struggles, it has planned on closing two European plants towards the year-end, adding 3 more ending activities in 2015.
Valerio Battista, company CEO said many plants are no longer efficient through a fixed-cost perspective. Battista also stated that Prysmian will move towards a structure of the regional supply chain so as to better compete with rivals that are operating in low-cost nations.
In 2011, the company became an industry leader, taking the lead over Draka, which operates 91 plants in 50 nations currently.
Based on EBITDA adjustments, the company’s full-year fiscal would become very low, according to the CEO, indicating a range between 506 and 556 million euros.
In August, the company also cut its 2014 core earnings estimate, fearing investors that another reduction may be declared on Thursday.
Adjusted earnings before EBITDA for January to September dropped to 355 million euros, marginally in proportion to analysts’ estimates of 352 million euros. Meanwhile, sales were flat at 5.014B euros during the first 9 months, and expected to increase nearly 2% of the entire 2014.
The Molson Coors Brewing Co posted its quarterly profits, lower than estimates, which was hurt by a decline in Canada’s beer sales along with higher expenditures on marketing.
Early this year, the company flogged the rights of Grupo Modelo’s brands’ distribution in Canada to the Anheuser-Busch InBev company. In 2012, the latter firm purchased Mexico’s Grupo.
Meanwhile, Molson Coors posted a 34.4 million dollar net loss, attributed to the company, equivalent to 19-cent per share during the quarter ended September 30. Last year, the company reported a 134.3 million dollars net profit or 73-cent per share.
Except special items, the profit was at 1.46 dollars per share, while the average estimates of analysts were at 1.48 dollars per share.
Including the Cobra beer and Coors Light brands, Molson Coors’ net sales dropped to 1.17 billion dollars, in proportion to the average estimates of analysts.
The core pretax income dropped 8.9% to 132.5 million dollars from Canada alone, while the pretax income from the same location rose just one-time in the recent 11 quarters.
On the other hand, the Miller Coors LLC, SABMiller Plc’s and Molson Coors’ operations in the United States, posted an 8% rise in its net profit for the quarter, driven by robust sales of its most expensive beer brands.
The company owns 42%, while SABMiller the remainder, whose superior brands include Blue Moon Belgian White and Leinenkugel’s Summer Shandy.
The McDonald’s Corp’s sales missed the average expectation of analysts in October, McDonald’s said on Monday, and worries remain as it is continually in search of the best recipe so as to compete against famous food chains that sell fresh food.
Sales of newly-opened and at least 13-month operating McDonald’s restaurants dropped 0.5% as the largest fast food chain in the world continues to compete in the extremely tough industry, including the European political and economic turmoil, and the aftermath created by a supplier scandal in Asia.
Analysts expected an average of 2.2% drop based on Consensus Metrix, a research firm. Company sales dropped 1% within the United States, below the analysts estimate of 1.9%. McDonald’s sales have not improved since October last year.
Under CEO Don Thompson’s office since July 2012, the United States have been focused on fresh ingredients as well as customized sandwich toppings as it tried to become more competitive against other food chains like Subway and Chipotle.
Additionally, the company shares remained flat at 95.10 dollars in the early trading. The issue on market share drops in major marketplaces also continued.
Changes occurred as the company also struggled in competing with smaller rivals like Burger King, Chick-fil-A, and Wendy’s.
Sales of the restaurant were off 4.2% in the African regions Middle East, and Asia Pacific, while analysts estimated a 6.1% decline.
Chinese and Japanese diners shunned the restaurant after a news, exposing the workers’ mismanagement of meat in a China-based supplier of the restaurant. Thus, McDonald’s thrived to find new resources to improve its recipes.
Company sales in Europe dropped 0.7% because of closure in Russia, including the weakening of Russian ruble and euro. However, the European market edges out the US as the company’s top revenue marketplace.
Spain’s Acciona, recently posted an 8% decrease in their 9-month overall core profit due to new energy regulations being implemented that hampered the growth of the company’s infrastructure and water division. Overall profits at the company’s wind turbine plant, Gamesa, meanwhile increased after recent restructuring efforts.
Wind farms of Acciona have been hit particularly hard by new measures being implemented by the government of Spain in mending a gap between costs and regulated overall energy prices that include power generation taxes and also subsidy cuts, a gap amounting to multi-billion-euros.
Gamesa did overcome weakness results after a recent restructuring plan that helped overall net profit to double, reaching 64 M euros equivalent to $79M, returning the company back on track in meeting targets for this year.
The company earlier sold a third stake of its stake in their energy business abroad to KKR, a private equity group. This is to help Acciona’s finances and two other companies that are planning to declare a “yield co” of holding assets for next year.
Acciona’s 9-month overall earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to a total of 771M euros, which is equivalent to $957M, while the company’s overall net profit almost doubled to a total of 149M euros, because of 1 time gains coming from sales of assets.
Britain’s Morrisons reported another big decline in its quarterly sales as consumers preferred either to save from discount stores and chains or pay more for high-class treats; however, the company said its aim to respond towards the shifting industry trends is working.
Though wages are stationary, discounters are flourishing and nearly all Britain’s grocers have been responding by slicing prices, hitting profits. On Thursday, Sainsbury disclosed a new tactic in the playing field so as to regain thrifty shoppers, launching a discounted store with Netto, a Danish firm.
Some families are spending more in stores like the Aldi, Lidl, including Marks & Spencer, which reported its 20th straight rise in quarterly sales on Wednesday. Thus, such changes in spending habits have hurt mid-range stores the hardest.
A Conlumino analyst said Morrisons continually manifests battle scars, caused by structural changes in the ongoing grocery market.
On Thursday, the company posted a 6.3% drop in sales at Morrisons stores that are operating for more than a year, except fuel for the third quarter, steeper than the analysts’ estimates of 5.2%, while a 7.6% decline in the second quarter.
The company shares jumped 9.3%, despite the 42% decline last year. The company said the quantity shoppers are buying show improvement, thus, expressing confidence for its 2014-2015 profit outlook, along with a detailed progress in reducing its debt.
The King Digital Entertainment Plc, a mobile and social gaming company posted on Thursday its lower profit (non-GAAP) as the company’s sales on its “Candy Crush Saga” game shrink relentlessly.
Based on non-GAAP, the company posted its adjusted income for the third quarter, amounting to 56-cent per share, beating the analysts’ forecast of 47-cent per share, but lesser than the previous 70 cents the same period a year back.
Company shares jumped 4% during the after-hours trade, closing at 13.19 dollars on the NYSE. King also declared a 150 million-dollar share purchase project on Thursday.
Its Candy Crush game continues to decline towards the end of the second quarter, but began to normalize towards the latter half of the third quarter. Thus, sales from the game decline, said CEO Riccardo Zacconi.
In October, the sister game of Candy Crush Saga, the Candy Crush Soda Saga was launched on Facebook, and the mobile version of the said game might be released in the coming weeks. Zacconi stated the launch of Soda would strengthen the Saga’s franchise.
The company reported 514.4 million dollars as revenue during the third quarter, lower than the 621.2 million the previous year. However, the recent figures surpassed the analysts’ forecast of 495 million dollars.
Kate Spade & Co reported a 30% increase in their quarterly overall sales due to a significant increase in demand for the company’s fashion accessories and handbags in the North America region. The company also raised their 2014 forecast for same-store overall sales growth globally.
Overall shares of the company increase to 21% and were also ranked among the highest percentage gainers in New York‘s Stock Exchange last Thursday.
North America’s overall sales that account for a third of the company’s overall revenue, increased 36.4% during the year’s third quarter, which was driven by the increasing demand for the company’s high-end New York accessories and handbags.
Kate Spade & Co has been challenging slowly into Coach Incorporated’s overall share when it comes to the handbag market in the United States, leading young women to prefer Kate Spade trendier handbags over products of larger rivals.
Coach recently reported their sixth straight total quarterly decline in the North American region last week when it comes to same-store overall sales.
Kate Spade & Co increased their same-store overall sales global growth expectations for this year to 19 to 21% from the previous estimates of 15 to 17%.
Kate Spade’s overall gross margins increased to 62.8% during the year’s quarter compared to last year’s 61.4%.
One of the best mutual fund industries in Canada, the IGM Financial Inc., posted on Thursday its earnings for the third quarter, higher than before, meeting estimates, and indicated an increased quarterly dividend.
The company, based in Winnipeg, Manitoba said its net earnings for common shareholders was at 219.7 million Canadian dollars for the current quarter or 87-Canadian-cent per share, which is higher than the previous year.
IGM revenue was at 750.2 million Canadian dollars, higher than the 667.5 million the previous year. Meanwhile the average revenue forecast was expected at 755.1 million Canadian dollars and earnings at 87-Canadian-cent per share.
IGM is a Desmarais family division, with the Power Financial Corp as the umbrella, and operating mainly under the Mackenzie Investments, Invstors Group, and the Investment Planning Counsel brands.
As of Spetember 30, the company’s overall assets under management were at 140.6 billion Canadian dollars, higher than last year’s 126 billion. Under management, its mutual fund assets were at 125.2 billion Canadian dollars, higher than last year’s 111.2 billion.
The company board improved its dividend for the quarter of 2.5 cents, indicating a 56.25-cent a share for IMG’s common shares that are due on January 30, 2015 to its shareholders within the record as of December 31, 2014.