Thursday, 23 Sep 2021

Carrefour Group Swings To H1 Profit

Teva Pharma Gains 10% After Reporting Q2 Results

Shares of Teva Pharmaceutical Industries Ltd. (TEVA) are gaining over 10% on Wednesday morning after the pharma giant reported its second-quarter results and updated its outlook.

TEVA is currently trading at $9.91, up $0.99 or 11.10%, on the NYSE, on a volume of 18.2 million shares, above the average volume of 8.7 million shares. The stock has traded between $8.24 and $13.30 in the 52 week period.

Teva Pharma’s second-quarter profit rose to $207 million or $0.19 per share from $140 million or $0.13 per share last year. Adjusted earnings for the quarter were $651 million or $0.59 per share for the period. Analysts had expected earnings of $0.59 per share.

The company’s revenue for the quarter rose 1.0% to $3.91 billion from $3.87 billion last year. Analysts had a consensus revenue estimate of $4.04 billion.

Moving ahead, Teva lowered its full-year 2021 revenues outlook to $16.0 billion to $16.4 billion from the previous estimate of $16.4 billion to $16.8 billion, due to the effects of the pandemic. Analysts currently expect revenues of $16.55 billion.

The company continues to see annual earnings of $2.50 to $2.70 per share. Analysts currently expect annual earnings of $2.45 per share.

Olympics: US women defeat ROC to claim first ever basketball 3×3 gold medal at Games

TOKYO (REUTERS) – The United States women defeated the Russian Olympic Committee team on Wednesday (July 28) to claim the first ever Olympic gold medal in 3×3 basketball.

The score was 18-15 when the final whistle blew at the Aomi Urban Sports Park in Tokyo.

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U.S. women win 3-on-3 basketball gold medal at Tokyo Olympics – The Denver Post

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European Economics Preview: European Central Bank Policy Decision Due

The monetary policy announcement from the European Central Bank is the major event due on Thursday.

At the governing council meeting in Frankfurt, policymakers of the ECB are forecast to keep its interest rates and asset purchases unchanged. The announcement is due at 7.45 am ET.

The bank is also expected to give more clarity about how it wants to implement the new strategy on inflation targeting. Early this month, the bank had indicated that negative and positive deviations of inflation from the 2 percent target are equally undesirable.

ECB President Christine Lagarde is set to hold the press conference at 8.30 am ET.
Other economic reports due for the day are as follows:

At 2.00 am ET, industrial confidence survey data from Norway and consumer sentiment from Denmark are due.

At 2.45 am ET, France’s statistical office Insee is slated to issue manufacturing confidence data. The manufacturing sentiment index is seen unchanged at 107 in July.

At 6.00 am ET, the Confederation of British Industry publishes quarterly Industrial Trends survey data for July. The order book balance is forecast to fall to 16 percent from 19 percent in June.

Duke Realty Corp. Q2 adjusted earnings Beat Estimates

Duke Realty Corp. (DRE) reported a profit for its second quarter that climbed from last year.

The company’s profit came in at $177.66 million, or $0.47 per share. This compares with $40.20 million, or $0.11 per share, in last year’s second quarter.

Excluding items, Duke Realty Corp. reported adjusted earnings of $167.27 million or $0.44 per share for the period.

Analysts had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.9% to $271.69 million from $238.51 million last year.

Duke Realty Corp. earnings at a glance:

-Earnings (Q2): $167.27 Mln. vs. $143.06 Mln. last year.
-EPS (Q2): $0.44 vs. $0.38 last year.
-Analysts Estimate: $0.18
-Revenue (Q2): $271.69 Mln vs. $238.51 Mln last year.

-Guidance:
Full year EPS guidance: $2.13 to $2.39

O`Reilly Automotive Inc. Earnings Climb In Q2

O`Reilly Automotive Inc. (ORLY) announced a profit for its second quarter that advanced from last year.

The company’s profit came in at $585.45 million, or $8.33 per share. This compares with $531.67 million, or $7.10 per share, in last year’s second quarter.

Analysts had expected the company to earn $7.13 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 12.3% to $3.47 billion from $3.09 billion last year.

O`Reilly Automotive Inc. earnings at a glance:

-Earnings (Q2): $585.45 Mln. vs. $531.67 Mln. last year.
-EPS (Q2): $8.33 vs. $7.10 last year.
-Analysts Estimate: $7.13
-Revenue (Q2): $3.47 Bln vs. $3.09 Bln last year.

-Guidance:
Full year EPS guidance: $26.80 to $27.00
Full year revenue guidance: $12.3 – $12.6 Bln

Carrefour Group Swings To H1 Profit

French food retailer Carrefour Group (CRERF.PK,CRRFY.PK,0NPH.L) on Wednesday reported net income for the first-half of 2021 of 298 million euros, compared to net loss of 25 million euros last year.

Adjusted net income rose to 337 million euros or 0.42 euro per share, from 250 million euros or 0.31 euro per share last year.

Sales including VAT increased slightly to 38.32 billion euros from 38.08 billion euros last year. On a like for like basis, sales increased 3.9%.

The company said sales performance reflects a solid dynamic of market share gains in key countries and the relevance of its multi-format and omnichannel model.

The Board of Directors has also approved the launch of an additional buyback program of Carrefour shares for a maximum amount of 200 million euros, with a view to canceling those shares.

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