Drug maker Eli Lilly and Co. on Friday reported a 41 percent decline in profit for the fourth quarter from last year, as revenues and margins were hurt by U.S. patent expirations of Cymbalta and Evista as well as the impact of a stronger U.S. dollar. However, adjusted earnings per share beat analysts' expectations, while revenues missed their estimates.
Document technology and business process services provider Xerox Corp. reported Wednesday a profit for the fourth quarter that halved from last year, reflecting a revenue decline and a loss from discontinued operations as a result of the ITO divestiture. Adjusted earnings per share from continuing operations topped analysts' expectations, while quarterly revenues missed their estimates.
Stocks are likely to move back to the downside in early trading on Friday after moving mostly higher over the course of the previous session. The major index futures are currently pointing to a sharply lower open for the markets, with the Dow futures down by 182 points.
Consumer and commercial products company Newell Rubbermaid (NWL) Friday reported a sharp drop in fourth-quarter profit, despite a small rise in sales. However, adjusted earnings improved, along with over 3 percent growth in core sales. Further, the company reduced its full year forecast to accommodate currency impact.
The euro area jobless rate fell unexpectedly to the lowest level since August 2012, yet remains elevated. The unemployment rate came in at a double-digit 11.4 percent in December, slightly down from 11.5 percent in November. It was expected to remain unchanged at 11.5 percent in December.
Toy maker Mattel, Inc. (MAT) reported Friday a profit for the fourth quarter that more than halved from last year. Sales were hurt by weak performance across most of the brands, with Barbie sales falling 12 percent.
Spain's economy grew at the fastest pace in seven years during the final three months of 2014 even as the worsening deflation picture cast a cloud on the recovery.
Gross domestic product advanced 0.7 percent sequentially, preliminary figures from the statistical office INE showed Friday. The growth...
Swiss security products maker Tyco International Ltd. (TYC) Friday said first-quarter profit declined from the prior year, amid a marginal drop in revenues due to adverse currency. However, adjusted earnings met expectations and organically, revenue grew. Further, the company lowered its earnings outlook for the year, to reflect a strong U.S. dollar.
Eurozone consumer prices declined for the second straight month in January largely due to lower energy prices, posting the biggest annual fall since 2009. The harmonized index of consumer prices in the 19-nation currency bloc fell 0.6 percent year-on-year in January, with a similar rate of decline last seen only in July 2009. Final data is due on February 24.
Early indications suggest that Wall Street stocks may open Friday's session notably lower. Global cues are negative, with Asian stocks trading on a lackluster note, while the European markets are seeing moderate losses. At the same time, commodity prices are firmer.
Russia's central bank on Friday cut its key interest rate, after raising it massively in December to shore up the ruble, in a bid to underpin economic activity that remains hurt by falling oil prices and economic sanctions. The Bank of Russia Board of Directors decided to reduce the key rate to 15.00 percent from 17.00 percent. Economists had expected the bank to retain the policy rate.
Here is a quick summary of the earnings reported after the bell Jan. 29
1. Align Technology, Inc. (ALGN)
Revenues for the fourth quarter of 2014 were $198.6 million, an 11.4% increase year-over-year from $178.3 million in the fourth quarter of 2013
Net profit for Q4'14 was $39.5 million, or...
Communications services provider BT Group Plc reported higher profit in its third quarter, despite weak sales, as all segments posted a decline except BT Consumer. Futher, the company backed its outlook for revenue and EBITDA, a key earnings metric. Separately, BT said it has reached agreement with the Trustee of the BT Pension Scheme or BTPS on the 2014 triennial funding valuation and recovery pl
India-focused miner Vedanta Resources Plc. (VED.L) Friday reported a small rise in revenue for the third quarter, but Earnings Before Interest, Tax, Depreciation and Amortization or EBITDA declined from the prior year, with a sharp decline in the Oil & gas business.
Japanese automaker Honda Motor Co. Ltd. reported Friday lower profit in its third quarter, even as net sales were benefited by strong sales of Motorcycles with improved performance in India and Indonesia. Further, the company lowered its fiscal 2015 forecast for profit and sales volumes, while lifting net sales view.