Monday, 6 Dec 2021

State Street Corp. Reports Increase In Q3 Earnings, Beats estimates

Colin Powell dies of COVID-19 complications, family says

WASHIINGTON — Colin Powell, former Joint Chiefs chairman and secretary of state, has died from COVID-19 complications, his family said Monday. He was 84.

In an announcement on social media, the family said Powell had been fully vaccinated.

“We have lost a remarkable and loving husband, father and grandfather and a great American,” the family said.

Powell was the first African American to serve as chairman of the Joint Chiefs of Staff and secretary of state.

Powell left behind an indelible reputation as a straight-shooter who considered — then rejected — a run for the presidency.

Remote hiring startup Deel valued at $5.5 billion after Coatue-led investment

(Reuters) – Remote hiring company Deel said on Monday it was valued at $5.5 billion after a $425 million funding round led by U.S. investment firm Coatue.

Bill Clinton Discharged From Hospital

Former President Bill Clinton has been discharged from a southern California hospital after receiving treatment for a urinary tract infection.

Clinton, 75, left the University of California Irvine Medical Center Sunday morning with wife Hillary after receiving treatment there for five days.

The former leader headed home to New York after saying bye to doctors and nurses, and giving a thumbs up to reporters.

Dr Alpesh Amin, the head of the medical team that treated Clinton, said in a statement: “His fever and white blood cell count are normalized and he will return home to New York to finish his course of antibiotics.”

Dr. Amin is the Chair, Department of Medicine and Executive Director, Hospital Medicine at UC Irvine Health.

Clinton, who was in California to attend an event for his foundation, was hospitalized on Tuesday after feeling fatigue and undergoing tests.

The infection reportedly spread to his bloodstream.

The two-term Democrat President had been confronting health issues since leaving the office. He underwent surgery in 2004, 2005, and in 2010 to repair damages to his lung and heart.

After the end of his presidency in 2001, Clinton had moved to New York with former Secretary of State Hillary Clinton, 73.

Clinton, who was fond of fatty foods, turned vegetarian after his second surgery.

Although Clinton’s second term was dominated by the Monica Lewinsky scandal, he left office with the highest end-of-term approval rating of any U.S. president since Franklin Roosevelt.

The Fastest Selling Cars in America Right Now

The microchip shortage has hindered production of many new cars, causing supplies to dwindle. As a result, drivers are paying higher prices for new vehicles. Drivers, says iSeeCars Executive Analyst Karl Brauer, “have embraced the reality that inventory shortages are here to stay for the next several months”. As prices have gone up, the number of days it takes to sell a car has gone down. 

The U.S. automarket has faced a wild swing over the last 20 months. The average new car sold in March through June of 2020 sat on dealers lots for over three months. In September 2021, the average new car sold in 24.6 days —  and there were 20 new cars that sold in less than 12 days.

To determine the fastest selling cars, 24/7 Wall St. reviewed iSeeCars’ list of The Hottest New and Used Cars in September. New vehicles are ranked on their average days to sell for September 2021.

Toyota vehicles account for half of the fastest-selling new cars in America. The manufacturer’s SUVs and hybrid versions of long-running/well-known models like Corolla, Rav4, and Highlander are in high demand, but Toyota had to cut global production by 40% in September due to the chip shortage, leading to quick sales times. These are the best selling cars in America.

Click here to see the fastest selling cars

Oil Extends Rally Amid China’s Energy Crisis

Oil prices rallied on Monday to extend last week’s gains amid expectations that easing restrictions around the world would help the recovery in fuel consumption.

Benchmark Brent crude futures rose 86 cents, or 1 percent, to $85.72 a barrel, after hitting a session high of $86.04, the highest price since October 2018.

U.S. West Texas Intermediate (WTI) crude futures were up $1.16, or 1.4 percent, at $82.89 a barrel, after having hit a session high of $83.73, the highest price since October 2014.

Both contracts rose nearly 3 percent last week after top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply and the International Energy Agency said surging natural gas prices could boost demand for oil among power generators.

China is in the middle of an energy crunch that is denting factory output and leading to power cuts in some areas. The country’s power woes look set to intensify as coal prices rose to a record high today.

Elsewhere, the energy crisis has engulfed Europe, sending power prices to record levels.

Soaring natural-gas and coal prices from Asia to Europe are pressuring power-generation companies and manufacturers to switch to using oil as the world economy reopens.

Cold temperatures in the northern hemisphere are also expected to worsen an oil supply deficit.

State Street Corp. Reports Increase In Q3 Earnings, Beats estimates

State Street Corp. (STT) reported a profit for its third quarter that increased from last year.

The company’s earnings came in at $714 million, or $1.96 per share. This compares with $555 million, or $1.45 per share, in last year’s third quarter.

Analysts had expected the company to earn $1.92 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.6% to $2.99 billion from $2.78 billion last year.

State Street Corp. earnings at a glance:

-Earnings (Q3): $714 Mln. vs. $555 Mln. last year.
-EPS (Q3): $1.96 vs. $1.45 last year.
-Analysts Estimate: $1.92
-Revenue (Q3): $2.99 Bln vs. $2.78 Bln last year.

Related Posts