R.R. Donnelley & Sons Company Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for R.R. Donnelley & Sons Company (RRD):

-Earnings: $28.3 million in Q3 vs. -$9.3 million in the same period last year.
-EPS: $0.38 in Q3 vs. -$0.13 in the same period last year.
-Excluding items, R.R. Donnelley & Sons Company reported adjusted earnings of $42.2 million or $0.57 per share for the period.
-Analysts projected $0.32 per share
-Revenue: $1.27 billion in Q3 vs. $1.19 billion in the same period last year.

Pre-market Movers: BAOS, BBLG, DELL, NXTD, CHGG…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 05.55 A.M. EDT).

In the Green

Baosheng Media Group Holdings Limited (BAOS) is up over 122% at $3.50

Bone Biologics Corporation (BBLG) is up over 52% at $8.38

Nxt-ID, Inc. (NXTD) is up over 35% at $5.95

SAB Biotherapeutics, Inc. (SABS) is up over 26% at $10.64

Corbus Pharmaceuticals Holdings, Inc. (CRBP) is up over 22% at $1.26

Puhui Wealth Investment Management Co., Ltd. (PHCF) is up over 17% at $2.45

Spartacus Acquisition Corporation (NN) is up over 14% at $14.63

CorMedix Inc. (CRMD) is up over 11% at $6.18

Oxbridge Re Holdings Limited (OXBR) is up over 11% at $3.85

ION Geophysical Corporation (IO) is up over 10% at $2.84

Biophytis SA (BPTS) is up over 9% at $6.55

Code Chain New Continent Limited (CCNC) is up over 7% at $1.76

In the Red

Dell Technologies Inc. (DELL) is down over 48% at $57.34

Chegg, Inc. (CHGG) is down over 31% at $42.88

Triterras, Inc. (TRIT) is down over 17% at $6.20

Muscle Maker, Inc. (GRIL) is down over 17% at $1.38

Cipher Mining Inc. (CIFR) is down over 12% at $8.60

ABVC BioPharma, Inc. (ABVC) is down over 12% at $5.30

Mountain Crest Acquisition Corp. II (BTTX) is down over 11% at $15.16

Phunware, Inc. (PHUN) is down over 4% at $3.64

BP posts $3.3 billion third-quarter profit, beating estimates as oil prices surge

Oil and gas giant BP beat third-quarter earnings expectations on Tuesday, fueled by surging energy prices.

The British energy major posted an underlying replacement cost profit, a proxy for net profit, of $3.3 billion for the third quarter, above analyst estimates of $3.1 billion, according to Refinitiv. The figure compares to $2.8 billion of net profit in the previous quarter and $100 million for the same period in 2020, when oil prices collapsed as a result of the coronavirus pandemic.

This year, Brent crude prices have risen around 60% so far.

"Rising commodity prices certainly helped, but I am most pleased that quarter by quarter, we're doing what we said we would – delivering significant cash to strengthen our finances, grow distributions to shareholders and invest in our strategic transformation," CEO Bernard Looney said in the company's earnings report.

However, the company reported a headline loss of $2.5 billion for the third quarter as a result of "significant adverse fair value accounting effects." These saw the company take a $6.1 billion hit which it attributed to the "exceptional" rise in forward gas prices towards the end of the quarter. 

This is a breaking news story and will be updated shortly.

Telefónica Deutschland Q3 OIBDA Rises, Upgrades FY21 Outlook; Lebara Switches To O2 Network

Telefónica Deutschland (TELDF.OB,TFTHF.OB) said it delivered third quarter revenue growth of 5.1% year-over-year mainly driven by accelerating MSR growth of 4.4%. Mobile postpaid net additions increased by 59% year-over-year driven by sustained traction of the O2 Free portfolio and a solid contribution from partner brands, the Group said.

Third quarter OIBDA improved 3.0% year-over-year to 613 million euros. OIBDA margin was at 31.2%, down 0.6 percentage points. Revenues were up 5.1% to 1.97 billion euros.

Telefónica Deutschland upgraded its fiscal 2021 outlook for OIBDA adjusted for exceptional effects to ‘low mid-single digit percentage growth’ year-over-year. The previous guidance was, slightly positive year-over-year.

Telefónica Deutschland said the company is expanding its wholesale partnerships with Lebara. Going forward, Lebara will realise its mobile business via Telefónica Deutschland’s network infrastructure.

Rupee surges 22 paise to close at 74.46 against U.S. dollar

Brent crude futures that fell 1.63% to $83.34 per barrel was one of the factors

The rupee appreciated by 22 paise to close at 74.46 (provisional) against the U.S. dollar on Wednesday on the back of easing crude oil prices and foreign fund flows into domestic IPOs.

Besides, a weak American currency in the overseas market also helped the local unit, forex dealers said.

At the interbank forex market, the rupee opened strong at 74.64 against the greenback and later gained strength to settle at 74.46, higher by 22 paise over its previous close of 74.68.

The local unit moved in a range of 74.46 to 74.64 in the day trade.

Brent crude futures, the global oil benchmark, fell 1.63% to $83.34 per barrel.

On the domestic equity market front, the BSE Sensex ended 257.14 points or 0.43% lower at 59,771.92, while the broader NSE Nifty declined 59.75 points or 0.33% to 17,829.20.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.03% to 94.04.

Foreign institutional investors were net buyers in the capital market on Tuesday, as they bought shares worth ₹244.87 crore, according to exchange data.

CANADA STOCKS-TSX muted at open ahead of Fed announcement; energy shares weigh

Nov 3 (Reuters) – Canada’s main stock index was subdued at open on Wednesday ahead of an expected move by the U.S. Federal Reserve to trim pandemic-era stimulus, with weakness in energy stocks also dampening sentiment.

At 9:30 a.m. ET (1330 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 9.39 points, or 0.04%, at 21,179.4.