Sensex, Nifty end marginally lower after choppy trade

HDFC Bank, Bharti Airtel, Axis Bank, Nestle India, ONGC, L&T and SBI and were among the laggards in the Sensex pack.

Equity benchmarks Sensex and Nifty ended marginally lower after a choppy session on Wednesday amid profit-taking in recent gainers, despite a largely positive trend in global markets.

After swinging 666.64 points, the 30-share BSE Sensex settled 19.69 points or 0.04 % lower at 51,309.39.

Similarly, the broader NSE Nifty slipped 2.80 points or 0.02 % to 15,106.50.

HDFC Bank, Bharti Airtel, Axis Bank, Nestle India, ONGC, L&T and SBI and were among the laggards in the Sensex pack, shedding over 1 %.

On the other hand, Bajaj Finserv, M&M, Bajaj Finance, Titan and TCS were among the gainers.

According to traders, investors used the higher levels as an opportunity to book profits through the day, keeping the benchmarks volatile.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains.

Stock exchanges in Europe were also trading on a positive note in early deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.23 % higher at $ 61.36 per barrel.

Under Armour shares rise as retailer reports unexpected profit for holiday quarter

Under Armour on Wednesday reported a surprise profit for the holiday quarter as sales were boosted by strong growth at its online business.

Its shares jumped more than 3% in premarket trading.

Here's how the company did for the fourth quarter compared with what analysts were expecting, based on a survey by Refinitiv:

• Earnings per share: 12 cents, adjusted, vs. a loss of 7 cents, expected
• Revenue: $1.4 billion vs. $1.27 billion, expected

Under Armour shares are up about 2% over the past 12 months, as of Tuesday's market close. The company has a market cap of $9.42 billion.

This story is developing. Please check back for updates.

Find the full press release from Under Armour here.

Belden Guides FY21 Adj. EPS In Line With Estimates; Announces CFO Transition – Quick Facts

While reporting financial results for the fourth quarter on Wednesday, Belden Inc. (BDC) initiated its earnings and revenue guidance for the full year 2021 and for the first quarter of fiscal 2021.

For fiscal 2021, the company now projects earnings in a range of $1.70 to $2.10 per share and adjusted earnings in a range of $2.90 to $3.30 per share on revenues between $1.99 billion and $2.05 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.20 per share on revenues of $1.94 billion for the year. Analysts’ estimates typically exclude special items.

For the first quarter, the company expects earnings in a range of $0.22 to $0.32 per share and adjusted earnings in a range of $0.60 to $0.70 per share on revenues between $490 million and $505 million.

The Street expects the company to report earnings of $0.61per share on revenues of $456.38 million for the quarter.

Additionally, the Company announced that its Senior Vice President, Finance, and Chief Financial Officer, Henk Derksen, will be leaving Belden in March to pursue other endeavors. Derksen has been with the Company since 2000.

Derksen’s successor will be Jeremy Parks, who worked with the Company from 2008 through August 2020, most recently as the Vice President of Finance for the Company’s Industrial Solutions segment, after which he joined International Wire Group, Inc. as its Chief Financial Officer.

European Economics Preview: Germany’s Final CPI Data Due

Final consumer prices from Germany and industrial production from France are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue final consumer prices for January. According to preliminary estimate, consumer prices rose 1 percent annually after falling 0.3 percent in December.

In the meantime, Statistics Norway publishes consumer prices for January. Inflation is seen at 1.7 percent versus 1.4 percent in December.

At 2.45 am ET, France industrial production data is due. Economists forecast production to grow 0.2 percent on month in December, in contrast to a 0.9 percent fall in November.

At 3.30 am ET, Sweden’s central bank is set to announce its interest rate decision.

At 6.00 am ET, January consumer price data is due from Latvia. Prices had decreased 0.5 percent on year in December.

Moody’s To Acquire Cortera – Quick Facts

Moody’s Corporation (MCO) has entered into a definitive agreement to acquire Cortera, a provider of North American credit data and workflow solutions. The company said the acquisition enhances Moody’s integrated risk assessment capabilities and significantly extends coverage in the small and medium enterprise segment. Cortera will be integrated into MA’s Research, Data & Analytics line of business.

Moody’s noted that the acquisition of Cortera will augment its Orbis database of
private company information and enhance its know-your-customer, commercial lending, and supply chain solutions.

Highway Holdings Ltd Earnings Fall In Q3

Highway Holdings Ltd (HIHO) revealed a profit for third quarter that decreased from last year.

The company’s bottom line came in at $0.08 million, or $0.02 per share. This compares with $0.32 million, or $0.08 per share, in last year’s third quarter.

The company’s revenue for the quarter fell 29.2% to $2.54 million from $3.59 million last year.

Highway Holdings Ltd earnings at a glance:

-Earnings (Q3): $0.08 Mln. vs. $0.32 Mln. last year.
-EPS (Q3): $0.02 vs. $0.08 last year.
-Revenue (Q3): $2.54 Mln vs. $3.59 Mln last year.

Interpublic Group Of Companies Inc. Q4 adjusted earnings Beat Estimates

Interpublic Group Of Companies Inc. (IPG) announced a profit for fourth quarter that dropped from the same period last year.

The company’s profit came in at $112.3 million, or $0.28 per share. This compares with $328.9 million, or $0.84 per share, in last year’s fourth quarter.

Excluding items, Interpublic Group Of Companies Inc. reported adjusted earnings of $339.8 million or $0.86 per share for the period.

Analysts had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 12.1% to $2.55 billion from $2.90 billion last year.

Interpublic Group Of Companies Inc. earnings at a glance:

-Earnings (Q4): $339.8 Mln. vs. $344.4 Mln. last year.
-EPS (Q4): $0.86 vs. $0.88 last year.
-Analysts Estimate: $0.80
-Revenue (Q4): $2.55 Bln vs. $2.90 Bln last year.