Visa Inc. Q1 Earnings Retreat

Visa Inc. (V) revealed earnings for first quarter that fell from last year.

The company’s bottom line came in at $3.13 billion, or $1.42 per share. This compares with $3.27 billion, or $1.46 per share, in last year’s first quarter.

Analysts had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 6.0% to $5.69 billion from $6.05 billion last year.

Visa Inc. earnings at a glance:

-Earnings (Q1): $3.13 Bln. vs. $3.27 Bln. last year.
-EPS (Q1): $1.42 vs. $1.46 last year.
-Analysts Estimate: $1.28
-Revenue (Q1): $5.69 Bln vs. $6.05 Bln last year.

What it should have been

In Wednesday’s report, “‘Changi’s sweet voice’ Suseela Krishnasamy dies at 87”, it was stated that the late artiste Suseela Krishnasamy is survived by her three sisters. It should have been four sisters.

We are sorry for the error.

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Variants may thwart vaccines, WHO warns

New mutations of the coronavirus are threatening to reduce the efficacy of vaccines engineered to end the pandemic, the World Health Organisation (WHO) has warned.

Besides being more contagious, the British, South African and Brazilian variants may also be more deadly.

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Over 113k in S'pore have received first dose

More than 113,000 people here have received their first dose of the Pfizer-BioNTech Covid-19 vaccine. While there were 432 “adverse event reports”, most were linked to symptoms generally associated with all vaccinations and were resolved. There were three cases of severe allergic reactions that were also quickly resolved.

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E*Trade Restricts Purchases of GameStop, AMC Shares

E*Trade Financial is preventing customers from purchasing shares of GameStop Corp. and AMC Entertainment Holdings Inc., according to a person familiar with the matter.

The move by Morgan Stanley’s retail brokerage on Thursday follows similar actions by Robinhood Markets and Interactive Brokers Group Inc. An E*Trade representative declined to comment.

Robinhood Has Told Users It May Close Some ‘At-Risk’ Positions

In this article

Robinhood Markets told users of its popular stock trading app that it may close out some of their positions as part of measures it’s taking to reduce account risks.

“Unprecedented volatility” surrounding shares of GameStop Corp. and AMC Entertainment Holdings Inc. and increased risks related to their trading prompted Robinhood to make the move, a spokesperson for the brokerage said.

Also read: Robinhood Users Are Furious Over Its Stock-Trading Clampdown

The company informed customers Wednesday with GameStop and AMC options expiring Jan. 29 that those options would be set to closing transactions only.

“Additionally, we let them know that if we determine that an option contract is at risk of being in the money and a customer doesn’t maintain the necessary collateral to support assignment/exercise, we may take proactive measures to help reduce account risk, including closing at-risk positions prior to expiration date,” the spokesperson said.

Robinhood draws on credit lines from banks – Bloomberg News

(Reuters) – Trading platform Robinhood Markets has drawn down some of its credit lines with banks, Bloomberg News reported on Thursday, citing sources.

The company has tapped at least several hundred million dollars from lenders including JP Morgan Chase and Co, and Goldman Sachs Group Inc, the report said. (bloom.bg/2YofuT3)

Robinhood did not immediately respond to a Reuters request for comment.

SpaceX finalizing new funding round at minimum valuation of $60 bln- Business Insider

Jan 28 (Reuters) – Elon Musk’s rocket company SpaceX is nearing a funding round in February that could value the company at a minimum of $60 billion, Business Insider reported on Thursday, citing three people familiar with the matter.

The latest round is expected to price each share between $325 and $350, the report said. (bit.ly/39rlnoU)

The company was previously valued at $46 billion in a funding round in August, according to the report.

SpaceX did not immediately respond to a Reuters request for comment.

Skyworks Solutions Inc. Q1 adjusted earnings Beat Estimates

Skyworks Solutions Inc. (SWKS) revealed a profit for its first quarter that climbed from last year.

The company’s earnings totaled $509.3 million, or $3.05 per share. This compares with $257.1 million, or $1.50 per share, in last year’s first quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $560.5 million or $3.36 per share for the period.

Analysts had expected the company to earn $2.08 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 67.8% to $1.51 billion from $0.90 billion last year.

Skyworks Solutions Inc. earnings at a glance:

-Earnings (Q1): $560.5 Mln. vs. $288.8 Mln. last year.
-EPS (Q1): $3.36 vs. $1.68 last year.
-Analysts Estimate: $2.08
-Revenue (Q1): $1.51 Bln vs. $0.90 Bln last year.

-Guidance:
Next quarter EPS guidance: $2.34
Next quarter revenue guidance: $1.125 – $1.175 Bln