Live Nation Entertainment Posts FY Loss

Live Nation Entertainment Inc. (LYV) reported that its fourth-quarter net loss attributable to common stockholders was $1.72 billion or $8.12 per share, compared to net income of $69.89 million in the prior year.

Revenue for the year dropped to $1.86 billion from $11.55 billion in the prior year.

At the end of the fourth quarter of 2020, the company had total cash and cash equivalents of $2.5 billion, which includes $643 million of free cash.

“Given the limited touring activity in 2020 and 2021, the pipeline for 2022 is much stronger than usual, with almost twice as many major touring artists on cycle in 2022 than a typical year – about 45 artists versus the usual 25,” the company said.

Altair Turns To Profit In Q4

Altair (ALTR) reported that its fourth quarter net income was $2.2 million or $0.03 per share compared to net loss of $1.5 million or $0.02 per share for the fourth quarter of 2019.

Non-GAAP net income per share was $0.17, compared to $0.07 last year.

Software product revenue was $113.6 million compared to $101.2 million for the fourth quarter of 2019. Total revenue for the quarter was $133.4 million up from $123.9 million for the fourth quarter of 2019.

Analysts polled by Thomson Reuters expected the company to report break even per share and revenues of $115.81 million for the fourth-quarter. Analysts’ estimates typically exclude special items.

For the first-quarter, the company expects net loss to be in the range of $4.5 million – $5.4 million, total revenue of $138.0 million – $140.0 million. Analysts expect revenue of $134.72 million for the first quarter.

Rocket Companies Q4 Net Income Surges; Declares Special Dividend Of $1.11/shr

Rocket Companies Inc. (RKT) reported that its fourth-quarter net income surged to $2.84 billion from $754.17 million in the prior year.

Net income attributable to company for the latest-quarter was $140.05 million or $1.09 per share.

Total revenue for the quarter grew to $4.70 billion from $1.93 billion last year. Adjusted revenue rose to $4.8 billion from $1.8 billion in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share and revenues of $3.92 billion. Analysts’ estimates typically exclude special items.

The company has declared a special dividend of $1.11 per share payable on March 23, 2021 to holders of Class A common stock of record at the close of business on March 9, 2021. The company said it will fund the special dividend from cash distributions of about $2.2 billion.

For the first-quarter, the company expects closed loan volume to be between $98 billion and $103 billion, or an increase of 90% to 99% compared to $51.7 billion in the first quarter of 2020.

Monster Beverage Q4 Profit Increases

Monster Beverage Corp. (MNST) reported that its net income for the 2020 fourth quarter increased 85.0 percent to $471.7 million, from $255.0 million in the 2019 fourth quarter. Net income per share for the 2020 fourth quarter increased 87.5 percent to $0.88, from $0.47 in the fourth quarter of 2019.

Net income per share for the 2020 fourth quarter, excluding the Non-Recurring Tax Benefit, the impact of the Product Returns, associated inventory provisions and other related costs, increased 30.6 percent to $0.62 from $0.47 in the fourth quarter of 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts’ estimates typically exclude special items.

Net sales for the 2020 fourth quarter increased 17.6 percent to $1.20 billion, from $1.02 billion in the same period last year. Analysts expected revenue of $1.13 billion for the quarter.

I Met My Husband on the Maternity Ward

He needed someone to cuddle him.

By Kadine Christie

RailTel Corp of India jumps 16% above IPO price in market debut

Shares of state-owned RailTel Corporation of India Ltd opened nearly 16% higher than the issue price in their market debut on Friday.

Shares of the company, which provides telecom infrastructure and Internet services along India’s railway tracks and at railway stations, opened at 109 rupees in pre-open trade, after raising 8.19 billion rupees ($112.01 million) in an initial public offering. ($1 = 73.1210 Indian rupees)

Kidnappers abduct school children in northwest Nigeria: state governor spokesman

ABUJA (Reuters) – Kidnappers have abducted school children in northwest Nigeria’s Zamfara state, a spokesman for the state governor said on Friday, but declined to say how many people were taken.

IMI Plc FY20 Profit Rises, Revenues Down; Cuts Dividend; Issues FY21 Adj. EPS View

IMI plc (IMI.L), a specialist engineering company, reported Friday that its fiscal 2020 profit before tax grew 13 percent to 214 million pounds from last year’s 189 million pounds.

Basic earnings per share were 62.7 pence, up 9 percent from 57.6 pence a year ago.

Adjusted profit before tax was 274 million pounds, compared to 251 million pounds last year. Adjusted earnings per share were 79.7 pence, compared to 73.2 pence last year.

The company recorded improved margins in all three divisions.

Revenue for the year, meanwhile, dropped 3 percent to 1.83 billion pounds from prior year’s 1.87 billion pounds. Organically, revenues fell 4 percent.

Further, the company said its Board is recommending a final dividend of 15.0 pence, down from last year’s 26.2 pence. This makes total dividend for the year of 22.5 pence, a decrease versus last year’s 41.1 pence.

Looking ahead, Roy Twite, Chief Executive, said, “Based on current market conditions, and assuming no worsening impact from Coronavirus, we expect the Group to deliver 2021 adjusted earnings per share of between 75p and 82p.”

Separately, IMI announced the appointment of Ajai Puri as a non-executive director and member of the Nominations and Remuneration Committees with effect from March 1.