Kelowna RCMP searching for owner of frozen sailboat

It’s encased in ice and has washed ashore along Okanagan Lake. Now, Kelowna RCMP are searching for the owner of a frozen sailboat.

Police say the vessel is currently resting against a lakeshore retaining wall along the 800 block of Manhattan Drive.

VMware to acquire Nyansa for undisclosed sum

VMware Inc. VMW, -1.77% said late Tuesday it planned to acquire Nyansa Inc. for an undisclosed sum. VMware stock was up less than 0.1% in the extended session. Nyansa is a closely held Palo Alto, Calif.-based network analytics software company that has raised nearly $30 million in venture capital dollars, according to Crunchbase. "Nyansa is a proven solution that solves many of the shortcomings of today’s vendor-specific solutions," Sanjay Uppal, a vice president and general manager at VMware, said in a statement. "Nyansa currently analyzes user network traffic from more than 20 million client devices across thousands of customer sites at companies including Tesla, Uber, Lululemon, Rooms To Go, GE Healthcare, SF International Airport, Stanford, Northeast Georgia Healthcare System and many others." VMware stock closed down 1.8% during the regular session Tuesday as the S&P 500 index SPX, -0.27% fell 0.3%.

Netflix Inc. Q4 Profit Advances

Netflix Inc. (NFLX) revealed a profit for its fourth quarter that rose from last year.

The company’s earnings totaled $0.59 billion, or $1.30 per share. This compares with $0.13 billion, or $0.30 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 30.5% to $5.47 billion from $4.19 billion last year.

Netflix Inc. earnings at a glance:

-Earnings (Q4): $0.59 Bln. vs. $0.13 Bln. last year.
-EPS (Q4): $1.30 vs. $0.30 last year.
-Analysts Estimate: $0.53
-Revenue (Q4): $5.47 Bln vs. $4.19 Bln last year.

Zions Bancorp Q4 Earnings Decline

Zions Bancorp (ZION) announced a profit for fourth quarter that decreased from last year.

The company’s earnings came in at $174 million, or $0.97 per share. This compares with $217 million, or $1.08 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Zions Bancorp earnings at a glance:

-Earnings (Q4): $174 Mln. vs. $217 Mln. last year.
-EPS (Q4): $0.97 vs. $1.08 last year.
-Analysts Estimate: $1.07

Crude Oil Futures Settle Lower

Crude oil prices edged lower on Tuesday as a report from the Energy Information Administration (EIA) forecasting a sharp climb in oil production in the U.S. outweighed concerns about supply disruptions in Libya.

Traders were also weighing the possible impact of the coronavirus outbreak in China on energy demand.

West Texas Intermediate Crude oil futures for March, the new front-month contract, edged down $0.20, or about 0.3%, to $58.38 a barrel.

West Texas Intermediate Crude oil futures for February expired at $58.34 a barrel, down $0.20, or 0.3% from previous close.

On Friday, WTI crude oil futures for February ended at $58.54 a barrel, gaining 2 cents for the session.

According to a report from the EIA, crude oil production from seven major U.S. shale plays may climb by 22,000 barrels a day in February to 9.2 million barrels a day. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the biggest increase, up 45,000 barrels a day in February from January, the report said.

The International Energy Agency said in its report last Thursday that it expects supply from OPEC will exceed demand for its crude, despite compliance with output cuts.

OPEC too has said supply from non-OPEC nations too far exceeds demand for crude.

According to a report released by Baker Hughes on Friday, the number of active U.S. oil rigs increased by 14 to 673 last week, had declined in the previous three weeks.

U.S. stocks end lower following first reported U.S. case of coronavirus

U.S. stocks closed lower Tuesday, falling short of last week’s records, after the U.S. Centers for Disease Control and Prevention announced the first case of the coronavirus within the U.S., which sent jitters that originated in Asian equities rippling through Wall Street. The selloff in U.S. equities left the Dow Jones Industrial Average DJIA, -0.52% down 151.45 points, or 0.5%, at 29,196.6, breaking its five-day winning streak. The S&P 500 index SPX, -0.27% fell 8.77 points, or almost 0.3%, at 3,320.84 and the Nasdaq Composite Index COMP, -0.19% shed 18.14 points, or 0.2%, to settle at 9,370.81, after briefly turning positive mid-session to set a record intraday high of 9,397.58. Last week, the Dow, S&P 500 and Nasdaq all posted their best weekly gains since Aug. 30, according to FactSet data. The virus’s outbreak in China, which originated in the city of Wuhan, has sickened around 300 people, leaving six dead, according to Chinese state media and health officials.

Capital One Financial Corp. Q4 adjusted earnings Beat Estimates

Capital One Financial Corp. (COF) released a profit for fourth quarter that declined from the same period last year.

The company’s profit totaled $1.04 billion, or $2.25 per share. This compares with $1.17 billion, or $2.48 per share, in last year’s fourth quarter.

Excluding items, Capital One Financial Corp. reported adjusted earnings of $1.15 billion or $2.49 per share for the period.

Analysts had expected the company to earn $2.28 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 6.0% to $7.43 billion from $7.01 billion last year.

Capital One Financial Corp. earnings at a glance:

-Earnings (Q4): $1.15 Bln. vs. $0.88 Bln. last year.
-EPS (Q4): $2.49 vs. $1.87 last year.
-Analysts Estimate: $2.28
-Revenue (Q4): $7.43 Bln vs. $7.01 Bln last year.