New U.K. Virus Strain Stabilizes in Most Regions During Lockdown

The spread of a new U.K. strain of Covid-19 stabilized or fell in most British regions with the country under a severe lockdown, even as overall case loads remained high.

The East Midlands was only place where the percentage of cases linked to the new variant rose in the week to Jan. 23, the Office for National Statistics said Friday, suggesting the U.K.’s restriction have helped arrest transmission of a strain officials have warned is more deadly and easier to spread.

In total, 1 in 55 people in England were infected with any form of the disease in the week, the ONS estimated, as the number of cases dipped marginally to just over 1.06 million. The rate in London, the worst-affected region, was 1 in 35. Both figures are unchanged from last week.

The findings provide more evidence that the severe lockdown imposed in England at the start of January is having an impact on a spiraling number of infections that threatened to overwhelm hospitals. The most recent seven-day average for reported cases is a little over 20,000, down from nearly 60,000 around the turn of the year.

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Chevron Posts Adj. Loss In Q4 – Quick Facts

Chevron Corp. (CVX) reported a fourth quarter adjusted loss per share of $0.01 compared to adjusted profit of $1.49 per share, a year ago. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.07, for the quarter. Analysts’ estimates typically exclude special items.

Fourth quarter total revenues and other income declined year-on-year to $25.25 billion from $36.35 billion, previous year. Analysts expected revenue of $26.2 billion, for the quarter.

Upstream worldwide net oil-equivalent production was 3.28 million barrels per day in fourth quarter, an increase of 6 percent from a year ago. The company noted that the increase was largely due to the Noble Energy acquisition, partially offset by production curtailments.

Capital and exploratory expenditures in 2020 were $13.5 billion, compared to $21.0 billion, prior year.

At year-end, balances of cash, cash equivalents, and marketable securities totaled $5.6 billion, a decrease of $0.1 billion from 2019-end. Total debt at December 31, 2020 was $44.3 billion, an increase of $17.3 billion from a year ago, including $9.4 billion from Noble Energy.

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European Economics Preview: Germany GDP, Unemployment Data Due

Quarterly national accounts and unemployment from Germany are due on Friday, headlining a busy day for the European economic news.

At 1.30 am ET, the French statistical office Insee publishes flash GDP data for the fourth quarter and consumer spending for December. The economy is forecast to contract 4 percent sequentially in the fourth quarter, after rising 18.7 percent in the third quarter.

At 2.00 am ET, Germany’s unemployment and import price reports are due from Destatis. Economists expect import prices to fall 3.1 percent year-on-year in December, slower than the 3.8 percent decrease in November.

At 3.00 am ET, Spain’s INE releases flash GDP, consumer prices and retail sales figures. GDP is expected to fall 1.5 percent sequentially in the fourth quarter, reversing a 16.4 percent rise in the third quarter.

In the meantime, average gross wages from Hungary and GDP from Austria are due.

At 3.55 am ET, the Federal Labor Agency publishes Germany’s unemployment data for January. The jobless rate is seen unchanged at 6.1 percent.

At 4.00 am ET, Destatis releases Germany’s fourth quarter GDP figures. The economy is expected to remain flat sequentially in the fourth quarter, following an 8.5 percent expansion in the third quarter.

Also, the European Central Bank is slated to issue private sector credit data. M3 is seen rising 11.2 percent annually in December versus 11 percent increase in November.

Gentex Q4 Profit Surges, Results Beat View – Quick Facts

Gentex Corp. (GNTX), a provider of automotive products, reported Friday that its net income for the fourth quarter surged to $143.3 million or $0.58 per share from $99.5 million or $0.39 per share in the year-ago period.

Net sales for the quarter grew 19 percent to $529.9 million from $443.8 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter on revenues of $482.97 million. Analysts’ estimates typically exclude special items.

Looking ahead to fiscal 2021, Gentex forecast revenue in a range of $1.94 billion to $2.02 billion. The Street expects revenues of $1.95 billion for the year.

Based on Gentex’s forecasts for light vehicle production for calendar year 2022, it currently expects calendar year 2022 sales growth of about 4 percent to 8 percent above the 2021 sales estimates.

Badger Meter Inc. Announces Rise In Q4 Earnings

Badger Meter Inc. (BMI) reported a profit for its fourth quarter that rose from the same period last year.

The company’s bottom line came in at $13.09 million, or $0.45 per share. This compares with $12.27 million, or $0.42 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.43 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 4.4% to $112.33 million from $107.56 million last year.

Badger Meter Inc. earnings at a glance:

-Earnings (Q4): $13.09 Mln. vs. $12.27 Mln. last year.
-EPS (Q4): $0.45 vs. $0.42 last year.
-Analysts Estimate: $0.43
-Revenue (Q4): $112.33 Mln vs. $107.56 Mln last year.