Ryanair Cuts Forecast Over a Fall in the British Pound
Ryanair cut its annual profit forecast on Tuesday due to a weaker pound, but its share price rose after it said it expected to boost its market share in the coming months by selling more tickets at cheaper prices. Europe’s largest low-cost airline, which expects sterling to account for a quarter of its earnings this year, said an 18% slide in the pound against the dollar following the country’s vote to leave the European Union had forced it to cut its profit forecast by 5%. Fare prices may drop..>> view originalVisa CEO Charles Scharf to resign, ex-AmEx president to take over
Visa Inc said Chief Executive Charles Scharf, who orchestrated the company's reunion with its European affiliate, is stepping down and will be succeeded by former American Express Co President Alfred Kelly.Kelly, who already sits on Visa's board of directors, will take over as CEO following Scharf's resignation, which is effective Dec. 1.Kelly said in an interview with Reuters that he "got a front row seat to the various opportunities and issues the company faces" as a Visa board member since ..>> view originalNetflix Shares Just Soared 20%
Netflix added over 50% more subscribers than expected in the third quarter as original shows such as “Stranger Things” drew new international viewers and kept U.S. customers despite a price hike, sending its shares soaring 20% in late trade. The company’s performance represented a turnaround from the previous quarter of disappointing subscription growth. Netflix, which has spent heavily to expand outside its home market, also said that it was on track to start harvesting “material global profit..>> view originalGoldman Sachs Profit Climbs as Trading Revenue Surges
Goldman Sachs Group Inc. said its quarterly earnings rose 47% as the firm continues to rebound from a slow start to the year. The New York-based firm reported a profit of $2.09 billion, or $4.88 a share. That compares with $1.43 billion, or $2.90 a share,...>> view originalHarley-Davidson Earnings Fall as it Plans Cutbacks
Harley-Davidson Inc. said its third-quarter earnings fell as tepid demand continued to weigh on the motorcycle manufacturer’s top line. Responding to slow growth industrywide, the company said it would streamline its business in the final quarter and expects to spend between $20 million and $25 million in severance and reorganization costs. The company also forecast that it would ship between 44,200 to 49,200 motorcycles in...>> view originalJohnson & Johnson Again Buoyed by Pharmaceuticals
Johnson & Johnson lifted the low end of its guidance and posted better-than-anticipated results in the latest quarter as the health-care giant’s pharmaceutical business continues to buoy its top line. The New Brunswick, N.J., company now expects earnings for the year of $6.68 to $6.73 a share, compared with its previous guidance for $6.63 on the bottom. It backed its revenue forecast of $71.5 billion to $72.2 billion. ...>> view originalMore retailers are staying home for Thanksgiving Day
It looks like some families will be spend more time with each other this Thanksgiving. That’s because some mall operators and retailers that had opened their doors on Thanksgiving Day in recent years are reversing that trend. It’s not just because they want to let employees enjoy the holiday with friends and family but also because the costs of opening on the holiday were bigger than the benefits.CBL & Associates Properties (CBL), one of the country’s largest owners of malls, The Mall of Americ..>> view originalDomino's revenue jumps more than expected
Domino's Pizza Inc (DPZ.N) on Tuesday reported a bigger-than-expected 17 percent jump in quarterly revenue as its U.S. division overcame intense competition that is taking a bite out of industry sales.Sales at domestic franchise units open at least one year were up 12.9 percent in the third quarter ended Sept. 11. Analysts had expected a rise of 9.4 percent, according to polling firm Consensus Metrix.Domino's results come as Wall Street analysts are tempering expectations for rivals such as Mc..>> view originalUK inflation at 1% as price of clothes and fuel rises
Image copyright Getty Images Rising prices for clothes, hotel rooms and petrol have led to the highest rate of inflation in nearly two years, official figures show. Inflation rose to 1.0% in September, up from 0.6% in August, the Office for National Statistics (ONS) said.Clothing saw its biggest price rise since 2010 and fuel, which was falling a year ago, was also more expensive.However, the ONS said there was "no explicit evidence" the lower pound was the reason for rising prices.Kamal Ah..>> view originalBurberry hit by weak department stores despite sterling boost
LONDON British luxury fashion brand Burberry (BRBY.L) reported a drop in first-half sales on Tuesday, hitting its shares as weak demand from U.S. department stores offset a surge in sales in its home market as tourists took advantage of a lower pound. The stock, one of the best performers since Britain voted to leave the European Union on June 23 in anticipation the company would benefit from a slide in the pound, dropped as much as 9 percent, its biggest one day fall for four years. Burberry..>> view original
Saturday, November 12, 2016
Ryanair Cuts Forecast Over a Fall in the British Pound and other top stories.
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