Credit Agricole profit beats forecasts
Cognex Q4 Profit Increases; Names Paul Todgham CFO
Cognex Corp. (CGNX) reported that its net income for the fourth-quarter increased to $80.33 million or $0.46 per share from $45.42 million or $0.26 per share in the prior year.
Non-GAAP net income per share was $0.51, compared to $0.30 last year.
Revenue was $169.77 million down from $193.29 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share and revenues of $161.13 million. Analysts’ estimates typically exclude special items.
For the first-quarter, the company projects revenue to be between $155 million and $170 million. The range represents a decline from first-quarter of 2019 primarily due to continued weakness in automotive and the estimated impact of the coronavirus outbreak. The decrease is expected to be partially offset by growth in logistics.
Cognex also announced the appointment of Paul Todgham as Senior Vice President of Finance and Chief Financial Officer, effective March 9, 2020. He will be based in the company’s Natick headquarters and will report to Cognex’s President and CEO, Robert Willett.
Most recently, Todgham spent six years at Levi Strauss & Company (NYSE: LEVI), where he served in a range of senior leadership positions, including leading finance for the company’s Global Supply Chain, Distribution, Merchandising, Planning, Design and Marketing teams.
Sensex rises over 200 points; Nifty above 12,200
Asian Paints rose up to 1.33 per cent, followed by HDFC, HCL Tech, UltraTech Cement, Bharti Airtel and L&T in opening trade
Market benchmark Sensex jumped over 200 points in opening session on Friday driven by gains in HDFC twins, ICICI Bank and Infosys amid strong foreign fund inflow.
The 30-share BSE index was trading 233.20 points or 0.56 per cent higher at 41,692.99, and the broader NSE advanced 59.85 points, or 0.49 per cent, to 12,234.50.
All Sensex components were trading on a positive note with Asian Paints rising up to 1.33 per cent, followed by HDFC, HCL Tech, UltraTech Cement, Bharti Airtel and L&T.
In the previous session, Sensex settled 106.11 points or 0.26 per cent lower at 41,459.79, and Nifty dropped 26.55 points or 0.22 per cent to close at 12,174.65.
Meanwhile, on a net basis, foreign institutional investors bought equities worth ₹1,061.39 crore, while domestic institutional investors sold shares worth ₹960.48 crore on Thursday, data available with stock exchanges showed.
According to traders, domestic equities advanced tracking significant foreign fund inflow ahead of the release of wholesale inflation data.
Globally, concerns over rising cases of coronavirus patients kept investors on edge, they said.
Bourses in Shanghai, Hong Kong and Seoul were trading on a positive note, while those in Tokyo slipped in the red.
Stock exchanges on Wall Street closed with losses on Wednesday.
Stock Alert: Esperion Therapeutics (ESPR)
Esperion Therapeutics Inc. (ESPR) has been hitting new highs and is already up nearly 24 percent so far this year.
Esperion is a pharmaceutical company developing non-statin, once-daily, oral therapies to lower elevated low-density lipoprotein (LDL) cholesterol for patients with hypercholesterolemia not adequately treated with current lipid-modifying therapies.
The Company has two upcoming regulatory catalysts to watch out for this month.
The FDA decision on the Company’s Bempedoic acid, proposed for the treatment of patients with elevated low-density lipoprotein cholesterol (LDL-C), is expected by February 21, 2020.
A combination tablet of Bempedoic acid/Ezetimibe is also under FDA review, with a decision expected by February 26, 2020.
The above two investigational drugs are also under review by the European Medicines Agency, with a decision anticipated in April.
ESPR has traded in a range of $33.13 to $76.98 in the last 1 year. The stock closed Thursday’s trading at $73.84, up 5.32%. In after-hours, the stock was up another 1.23% at $74.75.
Coronavirus: Places That Have Imposed China Travel Restrictions
More than 50 countries and territories have imposed travel restrictions and tightened visa requirements to contain the novel coronavirus.
| Recent Travel Ban Updates |
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India Bars Foreigners Who Have Been to China After Jan. 15 Australia Extends Coronavirus Entry Ban From Mainland China Italy’s Hopes for Closer China Ties Hit by Flight Ban Rift Philippine Carriers Suspend Taiwan Flights as Virus Ban Widened |
Separately, click here to access International Air Transport Association’s online travel center, which compiles the measures in place in individual geographies.
Credit Agricole profit beats forecasts
Credit Agricole SA’s fourth-quarter net profit beat expectations after it rose sharply, supported by one-offs and growing revenue.
Net profit for the period rose 65% to 1.66 billion euros ($1.80 billion), France’s second-largest listed bank ACA, +0.81% by assets said Friday.
Analysts had forecast quarterly net profit of EUR1.46 billion, according to a consensus forecast provided by FactSet
Revenue rose 5.5% to EUR5.12 billion.
Results for the quarter included a number of one-offs, such as significant provision write back related to the sale of Greek bank Emporiki and goodwill impairment of around EUR611 million at its French retail business. Overall, these had a positive impact of EUR343 million in the quarter.
Underlying profit, which excludes some specific items, rose almost 24% on year.
The bank proposed a 1.4% increase in dividend to EUR0.70 a share.
Credit Agricole’s core Tier 1 ratio, a key measure of capital strength, was 12.1% in December, compared with 11.7% in September.
