‘Saturday Fiction’ Review: Theater of History

In this period drama set in Shanghai in December 1941, the resplendent Gong Li conveys depths of pain and longing even when the script offers none.

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By Devika Girish

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Rirkrit Tiravanija’s Pad Thai Is Both a Meal and an Artwork

The artist uses food as a medium and as a means of connection — including with his students.

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Interview by Alice Newell-Hanson

‘The Duke’ Review: Suspect’s 61

This film from the director Roger Michell has a compelling art-thief protagonist, but is weighed down by soggy family drama.

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By Amy Nicholson

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Gold Dips As Bond Yields Resume Rise

Gold prices were moving lower on Thursday as bond yields resumed their rise amid expectations for aggressive Federal Reserve tightening.

Spot gold dipped 0.7 percent to $1,944.56 per ounce, while U.S. gold futures were down half a percent at $1,946.80.

10-year bond yields rose across Europe after European Central Bank Vice President Luis de Guindos supported a rate hike as early as July.

Guindos said that there is no reason for not winding down the asset purchase program in July.

Eurozone inflation accelerated sharply, but less than initially estimated, to set a record high in March underpinned by surging energy prices, final data from Eurostat showed earlier today.

Consumer price annual inflation jumped to 7.4 percent from 5.9 percent in February. Although the rate was revised down slightly from the flash estimate of 7.5 percent, it was the strongest on record.

The current inflation figure is more than triple the European Central Bank target of 2.0 percent.

Amid significant uncertainty to growth outlook, investors awaited comments from the central bank holy trinity of Fed chair Jay Powell, ECB president Christine Lagarde and Bank of England governor Andrew Bailey.

Genuine Parts Co Q1 Profit Increases, beats estimates

Genuine Parts Co (GPC) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line came in at $245.84 million, or $1.72 per share. This compares with $217.71 million, or $1.50 per share, in last year’s first quarter.

Excluding items, Genuine Parts Co reported adjusted earnings of $265.65 million or $1.86 per share for the period.

Analysts on average had expected the company to earn $1.67 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 18.6% to $5.29 billion from $4.46 billion last year.

Genuine Parts Co earnings at a glance (GAAP) :

-Earnings (Q1): $245.84 Mln. vs. $217.71 Mln. last year.
-EPS (Q1): $1.72 vs. $1.50 last year.
-Analyst Estimate: $1.67
-Revenue (Q1): $5.29 Bln vs. $4.46 Bln last year.

-Guidance:
Full year EPS guidance: Adj: $7.70 – $7.85

Aurubis AG: Q2 Exceeds Market Expectations; Raises Guidance

Aurubis AG (AIAGY.PK,AIAGF.PK) said the company exceeded the market expectations for the second quarter. According to preliminary figures, the company generated operating EBT of 194 million euros in second quarter compared to 103 million euros, last year. According to preliminary calculations, IFRS consolidated EBT was 281 million euros compared to 189 million euros, prior year.

Roland Harings, CEO, said: “We benefited from a very strong market environment with continued high metal prices and improved metal gains, a very high demand for copper products and sulfuric acid, combined with a very good operating performance at the sites in our smelter network. The very strong metal earnings more than offset the significant rise in energy prices. We expect the situation on our core markets to remain stable for the rest of the fiscal year.”

Aurubis increased the forecast for fiscal 2021/22 and now expects an operating EBT between 500 million euros and 600 million euros. The guidance range for operating EBT was previously between 400 million euros and 500 million euros.

East West Bancorp Declares Q2 Cash Dividend Of $0.40 Per Share

While reporting financial results for the first quarter on Thursday, East West Bancorp (EWBC) announced that its Board of Directors has declared second quarter 2022 cash dividend of $0.40 per share for the Company’s common stock, payable on May 16, 2022, to stockholders of record on May 2, 2022.

On March 3, 2020, East West’s Board of Directors had also authorized the repurchase of up to $500 million of East West’s common stock, of which $354 million remains available. East West did not repurchase any shares during the first quarter of 2022, and has not repurchased any shares since the first quarter of 2020, under this authorization.