Sunday, 5 Apr 2020

Allianz raises dividend as profit rises

Tokyo to cancel or postpone major indoor events for next three weeks: jiji

TOKYO (Reuters) – The Tokyo Metropolitan government said it will to cancel or postpone major indoor events planned for the next three weeks as Japan tries to halt the spread of the coronavirus, Jiji newswire reported.

The measure by Tokyo comes as the city prepares to host the 2020 Olympic Games starting in July. The coronavirus has infected more than 75,000 people in China and more than 1,000 in 25 other countries including Japan.

Pilgrim’s Pride Q4 Adj Profit Rises

Pilgrim’s Pride Corp. (PPC) reported fourth-quarter net income attributable to the company of $92.08 million or $0.37 per share, compared to a loss of $7.32 million or $0.03 per share in the prior year.

Adjusted net income attributable to Co increased to $35.38 million or $0.14 per share from $21.33 million or $0.09 per share in the prior year.

Quarterly net sales rose 15.3 percent to $3.06 billion from $2.66 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share on revenues of $2.93 billion for the quarter. Analysts’ estimates typically exclude special items.

Operating income surged to $85.8 million from prior year’s $23.6 million, while Adjusted EBITDA rose to $161.6 million from $111.0 million in the same period last year.

Valaris Q4 Loss Widens Sequentially

Valaris plc (VAL) reported that its net loss attributable to the company for fourth quarter 2019 was $216 million or $1.09 per share, compared to a net loss of $197 million or $1.00 per share, in third quarter 2019.

Revenues declined to $512 million in fourth quarter 2019 from $551 million in the prior quarter primarily due to the sale of VALARIS 5006, which operated during third quarter 2019.

Fewer rig operating days across the broader fleet also contributed to lower revenues and a three percentage point decline in utilization to 61% from 64% in the prior quarter.

Analysts polled by Thomson Reuters expected the company to report a loss of $1.30 per share and revenues of $511.13 million for the quarter. Analysts’ estimates typically exclude special items.

‘The Mandalorian’s’ Baby Yoda Is Ready For His Close-up At New York Toy Fair

Ready, they are. New Star Wars toys highlighted by the debut of items from the Disney+ hit The Mandalorian will hit the New York Toy Fair this week. But today on Good Morning America, there was a sneak peak at the offerings, including one that will undoubtedly be among the most coveted items.

“The Child,” aka “Baby Yoda” is the star of the items that are rolling out. The highlight is Hasbro’s The Child Animatronic Edition, available for pre-order at most major toy retailers today.

Also on tap: Mandalorian-themed editions of the board games Trouble and Operation, and new LEGO sets featuring the Mandalorian’s Razor Crest ship and BrickHeadz The Mandalorian and The Child .

The items are expected to be in stores later this year. Other items that were on pre-sale last year are going to stores in March.

Watch the video above for details on how it looks.

 

Alliant Energy Q4 Profit Increases; Backs 2020 EPS View

Alliant Energy Corp (LNT) reported that its fourth-quarter net income attributable to common shareowners increased to $111.5 million or $0.46 per share from $85.3 million or $0.36 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share. Analysts’ estimates typically exclude special items.

Total revenues for the quarter rose to $880.1 million from $873.5 million in the prior year.

The company still expects earnings per share in a range of $2.34 to $2.48 for 2020. Analysts expect annual earnings of $2.42 per share.

China's Hubei province revises up coronavirus toll, adds 220 cases

BEIJING (Reuters) – China’s Hubei province, the epicenter of the coronavirus outbreak that has killed more than 2,000 in the country, revised up its total number of confirmed infection cases by 220 to account for cases in the province’s prison system.

The province’s health commission said in a statement that it now has a total of 62,662 coronavirus cases as of Feb. 20.

Iranians begin voting in parliamentary election

DUBAI (REUTERS) – Iranians began voting on Friday (Feb 21) in a parliamentary election unlikely to change the Islamic Republic’s troubled relations with the United States, after thousands of candidates were barred from the field in favour of hardliners.

State television reported that polling started at 0430 GMT.

Voting is scheduled to last for 10 hours. There are some 58 million Iranians eligible to vote for the country’s 290-seat Parliament.

Allianz raises dividend as profit rises

Allianz SE said Friday that fourth-quarter net profit rose, and increased its dividend for 2019.

The German insurer ALV, -0.72% said net profit was 1.86 billion euros ($2.01 billion), up from EUR1.7 billion a year earlier and beating analysts’ forecasts of EUR1.68 billion, according to a consensus estimate provided by FactSet.

Revenue for the quarter rose to EUR35.5 billion from EUR33.2 billion the year prior, the company said.

Operating profit for the quarter fell to EUR2.75 billion from EUR2.77 billion, while for the full year it rose to EUR11.86 billion, in line with Allianz’s view that it would hit the upper half of the company’s EUR11 billion-EUR12 billion targeted range.

Allianz’s Solvency II ratio, a key measure of balance-sheet strength, stood at 212% at the end of 2019.

The company proposed a dividend of EUR9.60 a share, up from EUR9 a share the year prior.

In the asset-management division, which includes U.S. fund manager Pacific Investment Management Company, operating profit for the year rose 9.7%.

Allianz guided for 2020 operating profit of about EUR12 billion, plus or minus EUR500 million.

Late on Thursday, the company said it will launch a EUR1.5 billion buyback program.

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