The session promises to be auspicious for AMC Entertainment. Indeed, Andrew Cuomo, the governor of the State of New York, announced Monday evening that the cinemas of the city of New York could reopen on March 5 next. Covid crisis requires, these openings will be under constraints: a maximum of 25% of the reception capacity and a limit of 50 spectators per room.
“Metal wear” could be the cause of the spectacular incident on a United Airlines Boeing 777. At least it is a track advanced by the American authorities. As a reminder, a Boeing 777-220, which had just taken off Saturday from Denver for Honolulu, had to make an emergency U-turn when a jet engine caught fire. It was a P & W4000 reactor from Pratt & Whitney, a Raytheon subsidiary.
Crocs reported fourth quarter 2020 net income up over 820% to $ 183.3 million. Excluding one-offs, the shoemaker’s earnings per share stood at $ 1.06, above the consensus of 81 cents. Revenue jumped over 56% to 411.5 million, a record. Analysts were aiming for 408 million. At a comparable number of stores, sales climbed 40.9%. Online sales soared 92%.
Este Lauder announced today that it has reached an agreement to increase its investment in the vertically integrated Canada-based multi-brand company, DECIEM Beauty Group, by approximately 29% to approximately 76%. The transaction is expected to close in the second quarter. The cosmetics group agreed to buy the balance of the stake after a period of three years.
Home Depot posted earnings of $ 2.86 billion, or $ 2.65 per share, in the fourth quarter of its fiscal year (ended January), compared to $ 2.48 billion, or $ 2.28 per share, a year earlier. The chain of DIY stores and beats the FactSet consensus, which expected EPS of $ 2.63. Sales increased 25.1% over the period, reaching $ 32.26 billion, for a consensus of $ 30.63 billion. On a comparable basis, they increased by 24.5% (consensus of + 19.2%). They grew by 25% in the United States (consensus + 20.9%).
Macy’s reported fourth-quarter 2020 earnings of $ 160 million, or 50 cents per share, compared to $ 340 million, or $ 1.09 per share, a year earlier. Adjusted EPS came out 80 cents, while the FactSet consensus expected just 11 cents. Sales fell 17% on a comparable basis, falling $ 6.78 billion, against a consensus of $ 6.48 billion. Online sales have climbed 21% over the quarter, and now represent 44% of net sales. In total, in 2020, net sales reached $ 17.35 billion (-29.4%).
Occidental Petroleum shows a sixth consecutive quarter of losses due to weak demand linked to the pandemic. The oil group recorded in the fourth quarter of 2020 a net loss of 1.11 billion dollars against a loss of 1.04 billion a year earlier. Per share, the loss was $ 1.41, compared to $ 1.5 a year earlier. Excluding exceptional items, the loss reached 78 cents. The turnover fell by 37% 4.16 billion. Analysts expected 4.32 billion.
Spotify has announced its launch in more than 80 new countries, mainly in Africa and Asia, representing more than a billion potential listeners. This opening should allow it to add new musical genres to its catalog, such as k-pop, reggaeton or amapiano. The Swedish music streaming platform, New York side, has specified that free and premium subscriptions will be available in all these new markets, and that additional offers (personal, family, duo or student subscriptions) will be offered for some of them. .
Tesla fell sharply on Tuesday before the US equity markets opened. The manufacturer of electric vehicles is penalized by the decline in technology stocks (in a context of tensions on the side of bond yields), as well as by the fall in the price of Bitcoin. The most famous cryptocurrency once again illustrates its extreme volatility, with a drop of more than 12% 48,266 dollars each, around 2 p.m. However, Elon Musk’s firm has invested $ 1.5 billion in this asset.
Thomson Reuters reported earnings of $ 1.13 per share in the last quarter of 2020, down from $ 2.64 a year earlier. Its adjusted EPS, on the other hand, fell from 37 cents to 54 cents, beating the FactSet consensus which was expecting 47 cents. Turnover has, for its part: while analysts had forecast $ 1.63 billion, the Canadian-British news agency, listed on the NYSE, achieved a figure of 1.62 billion (+ 2% ). It has not provided any targets for 2021, but it aims for organic revenue growth of 5% in 2023.
Wells Fargo & Company has announced the sale of its asset management business to private equity funds, GTCR LLC and Reverence Capital Partners, LP for $ 2.1 billion. Wells Fargo Asset Management has $ 603 billion in assets. The bank will continue to hold a 9.9% stake and will continue to be an important customer and distribution partner. The transaction must be finalized in the second semester.