Thursday, 24 Sep 2020

European Economics Preview: France’s Manufacturing Sentiment Data Due

Libra launch: Facebook crypto a ‘threat’ to bitcoin’s ability to ‘reshape capitalism’

Where bitcoin works to redistribute wealth, Libra works to centralise it

Joseph Denne, CEO and Founder of DADI

FactSet Q3 Profit Beats Estimates; Raises 2019 Earnings Guidance

FactSet (FDS) reported that its third-quarter adjusted EPS rose 20.2% year-on-year driven primarily by stronger operating results. Revenues increased 7.2% primarily due to higher sales of analytics, content and technology solutions (CTS) and wealth management solutions. The company increased fiscal 2019 adjusted earnings per share guidance with the mid-point now 15% above prior year.

For the third-quarter, adjusted EPS was $2.62 compared to $2.18, a year ago. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $2.36 for the quarter. Analysts’ estimates typically exclude special items.

Third-quarter revenues were $364.5 million compared to $339.9 million, last year. Analysts expected revenue of $359.25 million for the quarter. Organic revenues grew 7.3% to $366.3 million.

For fiscal 2019, adjusted EPS is now expected to be in the range of $9.80 and $9.90. In March, the company projected adjusted EPS in the range of $9.50 and $9.65. Fiscal 2019 GAAP revenue is now expected to be in the range of $1.42 billion and $1.44 billion. In March, the company projected GAAP revenues to be in the range of $1.41 billion and $1.45 billion.

Analysts polled by Thomson Reuters expect the company to report profit per share of $9.59 on revenue of $1.43 billion.

On June 24, 2019, the Board of FactSet approved an increase of $210 million to the company’s existing share repurchase program. Currently $300 million is available for share repurchases.

Shares of FactSet were up 4% in pre-market trade on Tuesday.

Launch of Stena Line Dublin Horse Show at Bewley's Dublin

Social Sightings: Launch of Klorare's new haircare range at Drury Buildings

America’s most expensive home is now $100M cheaper

The most expensive home on the market in the US just got significantly less expensive.

The Los Angeles property dubbed Chartwell had a cool $50 million chopped from its asking price on Monday, taking its price tag down to $195 million from the whopping $245 million it was asking when it officially hit the market in October, according to listing records.

The discount is even more pronounced considering that in August 2017, it was announced that the listing would be available to buy for $350 million — though it’s not clear if the home was ever officially on the open market with that asking price.

Built in the 1930s, the opulent estate was made famous as the set of the 1960s TV series “The Beverly Hillbillies.” More recently it was owned by the late Univision chairman and CEO, billionaire Jerry Perenchio.

Perenchio, who died in 2017 at 86, lived in the mansion for 30 years after buying the home in 1986 for $13.5 million, according to property records. During that time, he snapped up at least four neighboring parcels that nearly doubled the estate’s size to almost 10.4 acres, records show.

Chartwell comes complete with a five-bedroom guesthouse, a 75-foot pool and pool house, a tennis court, a car gallery for 40 vehicles, a 12,000-bottle wine cellar and manicured gardens “befitting a chateau in France,” according to the listing.

Representatives for brokerages listing the property — Hilton & Hyland, Coldwell Banker Global Luxury and Berkshire Hathaway Home Services — did not immediately respond to requests for comment.

Britain's new prime minister should take up position on July 24: spokesman

LONDON (Reuters) – Britain’s new prime minister should take up his position on the afternoon of July 24, a spokesman for Theresa May said on Tuesday, fleshing out a succession triggered by her resignation after failing to get her Brexit deal approved by parliament.

European Economics Preview: France’s Manufacturing Sentiment Data Due

Manufacturing confidence from France is due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Finland releases unemployment data for May. The unemployment rate had climbed to 8.0 percent in April from 7.0 percent in March.

At 3.00 am ET, Spain’s INE is scheduled to issue producer price figures for May.

At 2.45 am ET, France manufacturing sentiment survey results are due. The confidence index is seen unchanged at 104 in June.

At 3.30 am ET, Sweden’s producer price figures are due from Statistics Sweden.

At 6.00 am ET, the Confederation of British Industry is slated to issue monthly Distributive Trades survey results. The retail sales balance is seen at -8 percent in June versus -20 percent in May.

At 8.00 am ET, Hungary’s central bank is set to announce its rate decision. The bank is expected to hold its key rate at 0.90 percent.

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