Saturday, 20 Apr 2024

European Economics Preview: Eurozone Flash Consumer Confidence Data Due

American Express Climbs On Higher Q4 Revenue, Outlook

American Express Co. (AXP) shares are gaining more than 9 percent on Friday morning trade after the company reported 17 percent increase in fourth-quarter revenue to $14.176 billion from $12.145 billion a year ago.

Looking ahead to the full year 2023, the company expects earnings per share in a range of $11.00-$11.40 per share and revenue growth of 15-17 percent. Wall Street analysts are looking for earnings of $10.55 per share on revenue of $58.81 billion.

Currently, shares are at $171.27, up 9.88 percent from the previous close of $155.88 on a volume of 3,109,188.

Badger Meter Inc. Q4 Income Climbs, but misses estimates

Badger Meter Inc. (BMI) released a profit for its fourth quarter that increased from last year but missed the Street estimates.

The company’s earnings totaled $17.54 million, or $0.60 per share. This compares with $17.28 million, or $0.59 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.5% to $147.32 million from $135.75 million last year.

Badger Meter Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $17.54 Mln. vs. $17.28 Mln. last year.
-EPS (Q4): $0.60 vs. $0.59 last year.
-Analyst Estimate: $0.61
-Revenue (Q4): $147.32 Mln vs. $135.75 Mln last year.

Gold Hovers Close To The Flatline

Prices of the yellow metal traded between $1,920 and $1,934.90 per troy ounce ahead of Friday’s release of PCE-based inflation data from the U.S. Despite the recent surge in prices, trading remained cautious on Friday.

Sentiment was muted as markets weighed the prospect of PCE-based inflation confirming the general decline in inflation that the CPI readings had demonstrated. Even though CPI has steadily declined from the peaks, markets remained cautious, awaiting a corroborative decline in PCE inflation as well. PCE-based readings that are sourced from businesses, unlike the CPI which sources data only from consumers has been the Fed’s preferred inflation gauge.

Though markets have been betting on a dovish pivot by the Fed and a slowing down in the rate hikes, the Fed has been cautious to not give the message that the fight against inflation is already over.

Gold Futures for February Settlement edged 0.06 percent higher to trade at $1,931.20.

Spot Gold also gained 0.09 percent to trade at $1,930.88 per troy ounce. The day’s trading range has been between $1,919.92 and $1,934.88.

WiSA Technologies Falls 13% After Announcing 1-for-100 Reverse Stock Split

WiSA Technologies, Inc. (WISA) shares are sliding more than 12 percent on Friday morning trade after the company announced its board’s approval for 1-for-100 reverse stock split. The company will start trading tomorrow on the Nasdaq on a split-adjusted basis.

Currently, shares are at $9.58, down 13.69 percent from the previous close of $11.10 on a volume of 306,693.

Photos: Winter X Games Aspen 2023

Athletes began arriving at Buttermilk Mountain in Aspen for the 2023 Winter X Games on Jan. 26, 2023.

Colorado man dies in ski accident at Snowmass

A 27-year-old man died Thursday after he was injured in a ski accident at Snowmass Ski Area.

Tyler James Updegraff, of Silverthorne, was injured in an accident on the first jump feature at Little Makuna Park, the Pitkin County Coroner’s Office said in a news release.

The coroner’s office is still investigating the incident but ruled the manner of death accidental.

C3.ai Rally Continues

Shares of C3.ai, Inc. (AI) shares are trading higher on Friday morning, continuing an uptrend since the start of this month. There were no corporate announcements today to influence the stock movement.

Currently, shares are at $16.50, up 9.45 percent from the previous close of $15.08 on a volume of 4,049,133.

I-70 eastbound closed in Glenwood Canyon, I-70 westbound reopened after separate crash

Two crashes in both directions of Interstate 70 in Glenwood Canyon closed the entire interstate just east of Glenwood Springs, but the westbound lanes reopened about 9:50 a.m.

A three-vehicle crash has closed the eastbound lanes of the interstate between exits 119 and 121, and a jack-knifed trailer temporarily blocked both westbound lanes between exits 123 and 125.

The eastbound crash was reported just after 9 a.m.

There is no estimated time for reopening the eastbound lanes yet, according to the Colorado Department of Transportation’s trip planner website.

A Vegetarian Update for Old-School Tamale Pie

A bean-based chili and a little bit of spice bring this retro casserole into the modern age.

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European Economics Preview: Eurozone Flash Consumer Confidence Data Due

Flash consumer confidence survey data from the euro area is the top economic news due on Monday, headlining a light day for the European economic news.

At 4.00 am ET, industrial production, producer prices and retail sales figures are due from Poland. Economists forecast industrial output to grow 1.4 percent on a yearly basis, following a 4.6 percent rise in November. Producer price inflation is seen at 19.4 percent versus 20.8 percent a month ago. Retail sales are expected to climb 1.4 percent after rising 1.6 percent in the previous month.

At 6.00 am ET, Germany’s central bank is scheduled to publish its monthly report.

At 10.00 am ET, the European Commission is set to issue euro area flash consumer confidence survey results. The sentiment index is seen at -20.0 in January versus -22.2 in December.

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