CNOOC H1 Profit Climbs On Higher Production, Prices – Quick Facts

CNOOC Limited (CEO, CNU.TO) reported Thursday that first-half net profit reached RMB 71.89 billion, up 115.7% from RMB 33.33 billion a year ago.

Basic earnings per share were 1.57 RMB Yuan, a growth of 109.3 percent from 0.75 RMB Yuan last year.

Oil & gas sales grew 75.6 percent to RMB 176.68 billion from prior year’s RMB 100.63 billion.

Production grew 9.6 percent to 304.8 million barrels of oil equivalent or BOE from 278.1 million boe a year earlier. Realized oil price climbed 66.5% and realized gas price grew 22.3%.

Further, the company announced interim dividend of HK$0.70 per share.

Looking ahead, the company said it continues to increase reserves and production. Second-half production target is 600-610 mmboe.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Movado Group Q2 Net Profit Rises; Trims FY23 Net Sales Outlook

Luxury watch maker Movado Group, Inc. (MOV) reported Thursday that net income attributable to Movado for the second quarter grew to $24.0 million or $1.05 per share from $19.41 million or $0.82 per share in the prior-year quarter.

Excluding items, earnings for the quarter were $1.07 per share, compared to $0.85 per share in the year-ago quarter.

Net sales for the quarter increased 5.1 percent to $182.80 million from $173.87 million in the same quarter last year. It grew 10.5 percent on a constant dollar basis.

Looking ahead to fiscal 2023, given the prevailing foreign exchange headwinds, the Company currently expects net sales to be between $780 million to $790 million, compared to its previous outlook range of $780 million to $800 million.

The Company also announced that the Board of Directors approved the payment on September 21, 2022 of a cash dividend in the amount of $0.35 for each share of the Company’s outstanding common stock and class A common stock held by shareholders of record as of the close of business on September 7, 2022.

Gold Rises As Dollar Weakens Ahead Of Powell’s Speech

Gold prices edged higher on Thursday and the dollar weakened, as investors looked forward to Fed Chair Jerome Powell’s speech on Friday at the central banking conference in Jackson Hole for further cues on the monetary policy outlook.

Spot gold jumped 0.7 percent to $1,764.39 per barrel, while U.S. gold futures were up 0.9 percent at $1,777.70.

Powell is widely expected to reiterate the central bank’s hawkish stance, given the expectations that inflation in the U.S. will be persistent and it will take time to contain it.

The dollar ticked lower while benchmark U.S. 10-year Treasury yields held near multi-week highs hit in the previous session ahead of U.S. GDP data for the second quarter and weekly jobless claims for the week ended August 20 due in the New York session.

The German economy expanded in the second quarter, beating the initial estimates, data released by Destatis showed earlier today.

Gross domestic product grew 0.1 percent sequentially, in contrast to the flat growth estimated on July 29, underpinned by household and government spending.

Germany’s Ifo business confidence fell in August but topped expectations.

The European Central Bank releases the accounts of the monetary policy meeting of the governing council held on July 20 and 21 at 7.30 am ET.

Pre-market Movers: VACC, RVAC, SNOW, FREY, SPLK…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 06.45 A.M. ET).

In the Green

Vaccitech plc (VACC) is up over 28% at $6.04
Snowflake Inc. (SNOW) is up over 17% at $187.22
FREYR Battery (FREY) is up over 14% at $12.09
Autodesk, Inc. (ADSK) is up over 8% at $233
SOS Limited (SOS) is up over 8% at $7.11
BeiGene, Ltd. (BGNE) is up over 7% at $190.00
Hercules Capital, Inc. (HTGC) is up over 7% at $15.89
San Juan Basin Royalty Trust (SJT) is up over 6% at $14.95
Dynagas LNG Partners LP (DLNG) is up over 6% at $4.44
Party City Holdco Inc. (PRTY) is up over 6% at $2.13
Datadog, Inc. (DDOG) is up over 5% at $111.00

In the Red

Riverview Acquisition Corp. (RVAC) is down over 18% at $11.26
Splunk Inc. (SPLK) is down over 11% at $97.50
Victoria’s Secret & Co. (VSCO) is down over 8% at $35.06
Salesforce, Inc. (CRM) is down over 6% at $168.66
Indonesia Energy Corporation Limited (INDO) is down over 6% at $11.17
Freshpet, Inc. (FRPT) is down over 5% at $44.50
Golden Sun Education Group Limited (GSUN) is down over 5% at $25.61
Zuora, Inc. (ZUO) is down over 5% at $8.44

Lloyds Bank down: Lloyds and Halifax customers left unable to use online banking and app

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Customers cannot access their cash or perform any transactions because the institution servers are down or not working. Fortunately, the Lloyds Bank team is already aware of the problem and working on a fix.

On their website they have stated: “We know some customers are having issues with the internet and/or Mobile Banking.

“We’re sorry for this. We’re working to get it back to normal soon.”

More to follow…