Deutsche Boerse Q2 Profit Rises

Deutsche Boerse AG (DBOEY.PK,DBOEF.PK) reported second-quarter net profit to shareholders of 310.9 million euros, up from 256.7 million euros last year.

Basic earnings per share was 1.69 euros compared to 1.40 euros last year. EBITDA was 518.0 million euros, up from 440.7 million euros last year. Adjusted EBITDA rose by 18% to 518.0 million euros.

Deutsche Börse Group reported an increase of 13 percent in net revenue to 881.7 million euros, up from 777.5 million euros last year.

A cyclical decline in net revenue was partly offset by secular growth, primarily in the IFS segment. M&A-related growth stemmed mainly from the acquisitions of ISS and UBS Fondcenter AG (Clearstream Fund Centre) and more than made up for cyclical factors.

UPS revenue jumps 10 percent, but stock flips into reverse

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UPS had another strong quarter with shipments to homes continuing at a brisk pace, though revenue at home, its biggest market, was a little weaker than some had expected.

Shares were trading down nearly 9 percent, $191.53, in late morning on Tuesday.

Domestic revenue still grew 10.2 percent, to $14.40 billion, in the second quarter, with per-piece revenue rising 13.4 percent. However, Wall Street had projected domestic revenue of $14.76 billion. Revenue from international operations spiked 30 percent to $4.82 billion, which was better than the $4.57 billion analysts had expected.

For the three months ended June 30, United Parcel Service earned $2.68 billion, or $3.05 per share. Stripping out one-time costs, earnings were $3.06 per share, easily beating the $2.75 that Wall Street was looking for.

A year earlier the Atlanta company earned $1.77 billion, or $2.03 per share.

Overall revenue was $23.42 billion, also better than expected.

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Lamb Weston Drops 12% On Weaker Full Year Outlook

Idaho-based packaged food selling company, Lamb Weston Holdings Inc (LW) is down 12% after the company posted a slower outlook despite earnings matching the analysts in the second quarter results. The stock is currently trading at $66.50, down $9.58 or 12.59%, on the NYSE.

The net income for the company turned a profit of $66 million or $0.44 per share from a loss of $2 million or $0.01 per share.

Seven analysts polled by Thomson Reuters expected an earnings of $0.44 per share for the quarter. Net revenue for the company also increased 19% to $1 billion, from $846 million last quarter.

However, the company posted a conservative outlook for the year expecting a mid-low single digit growth in revenue. According to the company, there might be volatility in the market and several factors might play roles in inflation.

“While french fry demand trends have become more predictable compared to a year ago, the lingering effects of the pandemic and the sharp recovery of the broader economy in the U.S. has disrupted supply chain operations across all industries, including ours. While we expect these disruptions to be transitory, we believe these challenges, along with notable input and transportation cost inflation and the impact of a tighter labor market, will continue to pressure our earnings in the near term,” said Tom Werner, President and CEO of the company.

Stocks drop ahead of tech earnings and renewed mask guidance.

By Coral Murphy Marcos and Matt Phillips

Five-Year Note Auction Attracts Average Demand

After revealing modestly below average demand for this month’s two-year note auction on Monday, the Treasury Department revealed Tuesday that this month’s auction of $61 billion worth of five-year notes attracted average demand.

The five-year note auction drew a high yield of 0.710 percent and a bid-to-cover ratio of 2.36.

The Treasury also sold $61 billion worth of five-year notes last month, drawing a high yield of 0.904 percent and a bid-to-cover ratio of 2.36.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous five-year note auctions had an average bid-to-cover ratio of 2.37.

On Thursday, the Treasury is due to announce the results of this month’s auction of $62 billion worth of seven-year notes.

Outdoor grill-maker Weber firing up $8 billion IPO

Outdoor grills maker Weber said on Tuesday it expects to raise nearly $797 million through an initial public offering in the US, targeting a valuation of more than $8 billion.

The coronavirus pandemic has been an especially busy time for outdoor dining, with many consumers taking up home-improvement projects, including building out decks and patios, which mean more backyard grilling.

Grill companies Traeger and BBQ Guys are also planning to go public.

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Noah Holdings Continue To Drop, Shares Down 7%

Chinese finserv company, Noah Holdings Limited (NOAH) continues to drop as its shares are currently down 7% on Tuesday morning.

The shares are trading at their lowest this year losing 25% in the process. This drop can be attributed to the ongoing government crackdown on companies listed in foreign countries.

The shares are currently trading at $35.93, down $3.52 or 8.92% since their close at $39.45 on Monday. The shares opened at $38.73 and in the 52-week period, the shares have ranged between $24.77 and $53.37.