Drug maker Eli Lilly and Co. reported Thursday a sharp decline in second-quarter profit as revenues were hurt mainly by the impact of U.S. patent expirations for Cymbalta and Evista. Earnings per share, however, topped analysts' estimates. The company trimmed fiscal 2014 forecast for reported earnings, while backed adjusted earnings view.
U.K. retail sales increased only marginally in June on weak clothing sales as stores delayed summer clearances due to good weather, data from the Office for National Statistics showed Thursday. However, retail sales during the second quarter hit a 10-year high, signaling strong support from consumer demand to overall economic growth.
After ending the previous session mixed, stocks are likely to move to the upside in early trading on Thursday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 24 points.
The Eurozone private sector growth rebounded at the start of the third quarter from a six-month low as strong expansion in Germany neutralized the contraction in France. The flash composite output index rose to 54 in July to match April's three-year high level, flash survey data from Markit Economics showed Thursday. A reading above 50 indicates expansion in the private sector.
Starwood Hotels & Resorts Worldwide, Inc. Thursday reported higher second-quarter profit, as rise in revenue per available room or RevPAR drove strong growth in management and franchise fees. Earnings per share, as well as revenues topped analysts' expectations. The company forecast third-quarter earnings below estimates, while lifted its full-year earnings view.
Ford Motor Co. (F) Thursday said the second-quarter profit increased from last year, even as revenue slipped and volume dropped. Further, Ford also affirmed its full-year pre-tax profit guidance.
Early indications suggest that Wall Street stocks may see some strength despite the surrounding economic and geopolitical uncertainties. Manufacturing activity data from China and private sector activity data from the eurozone came in better than expected, allaying concerns that the global economy is...
European stocks erased early losses to extend gains for a third day on Thursday, as U.S. earnings continue to surprise on the upside and Chinese as well as Eurozone PMI data eased concerns surrounding the global economy.
The Asian markets rose broadly, with the regional benchmark index extending...
British brewer SABMiller Plc Thursday said its first-quarter net producer revenue or NPR, as well as beverage volumes increased from last year, helped by strong growth in Africa and Europe. The group stated that its financial performance is in line with expectations.
Nokia Corp., which recently completed the sale of substantially all of its Devices & Services business to Microsoft Corp., Thursday reported a profit for the second quarter, benefited by the sale of the handset business. The firm also boosted Nokia Networks' operating margin expectations for the full year.
Anglo-Dutch publishing and events company Reed Elsevier Plc. (REL.L, RUK, ENL) Thursday said its first-half profit declined from the prior year, amid a 6 percent drop in revenues. For the full year, the company reiterated its earlier outlook.
German chemical giant BASF SE reported Thursday higher profit in the second quarter, reflecting strong performance in chemicals and the Oil & Gas segments, despite negative currency impacts. Looking ahead, BASF confirmed its fiscal 2014 forecast for higher earnings and lower sales in a more challenging environment.
Swiss pharmaceutical giant Roche Holding AG (RHHBY.PK, ROG.SW, RO.SW) Thursday reported lower net profit mainly on the strength of the Swiss franc. On a constant currency basis, the company reported growth in its the first-half profit driven mainly by its cancer medicines, especially the new breast cancer medicines, Perjeta and Kadcyla. The company, further, confirmed its full-year outlook.
European stocks are seen flat to slightly lower on Thursday amid a lack of cues to sustain two days of gains. Geopolitical concerns remain and the earnings season is picking up pace, rendering investor mood cautious.
In economic releases, investors eye PMI reports from major European economies and...
TripAdvisor reported a marginal increase in second-quarter profit, as the online travel company clocked strong revenue growth, largely offset by expenses on sales and content. Quarterly earnings fell short of Wall Street estimates, while revenue surpassed expectations. TripAdvisor shares plunged more than 11 percent in after-hours trade.