Friday, 29 Mar 2024

Gold prices tumble Rs 548 tracking tepid global trends

Waters Corp. Q3 adjusted earnings Inline With Estimates

Below are the earnings highlights for Waters Corp. (WAT):

-Earnings: $138.13 million in Q3 vs. $141.01 million in the same period last year.
-EPS: $2.07 in Q3 vs. $1.83 in the same period last year.
-Excluding items, Waters Corp. reported adjusted earnings of $142.06 million or $2.13 per share for the period.
-Analysts projected $2.13 per share
-Revenue: $577.28 million in Q3 vs. $578.02 million in the same period last year.

-Guidance:
Next quarter EPS guidance: $2.95 to $3.05
Full year EPS guidance: $8.73 to $8.83

Amazon makes free grocery delivery part of Prime membership

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Amazon announced Tuesday that it is adding free grocery delivery for all Prime members.

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Not all customers have access to the service, although Amazon said it is working to expand. It's available in more than 2,000 cities and towns, Amazon said.

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 1,777.08 +15.75 +0.89%

The service, Amazon Fresh, used to cost $14.99 per month.

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"Grocery delivery is one of the fastest growing businesses at Amazon, and we think this will be one of the most-loved Prime benefits," Stephenie Landry, Amazon's VP of Grocery Delivery, said in a statement.

Customers can select groceries from Amazon Fresh and Whole Foods Market, which Amazon acquired in 2017.

The decision comes after Amazon's online grocery sales growth slowed in 2018, Grocery Dive reported.

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Gold Drifts Lower As Trade Optimism Prevails

Gold prices were subdued on Tuesday as optimism prevailed over U.S.-China trade talks and investors awaited a possible Federal Reserve interest-rate cut.

Spot gold dropped 0.4 percent to $1,486.49 per ounce, after losing nearly 1 percent the previous day. U.S. gold futures were down half a percent at $1,488.30 an ounce.

U.S. President Donald Trump on Monday said that the first phase of a trade pact with China could be signed “ahead of schedule” and the aim was to sign the accord at the APEC summit between him and Xi in Chile next month.

Trump and his Chinese counterpart Xi Jinping are scheduled to attend the Asia-Pacific Economic Cooperation forum on November 16-17 in Santiago, Chile. Trump described the pact as the first part of a process that could unfold in three phases.

The United States Trade Representative said it is studying whether to extend tariff suspensions on $34 billion of Chinese goods set to expire later in December.

A two-day meeting of the U.S. Federal Reserve gets underway later today, with market participants believing that a reduction of 25 basis points in the target range for the federal funds rate would be appropriate amid continued worries of a global economic slowdown.

Meanwhile, after the British parliament rejected a plan by Prime Minister Boris Johnson to organize a snap election, Johnson will make another attempt today to get lawmakers to approve an early national election. The legislation requires a simple majority to be passed.

Air Force's mystery space plane completes 2-year mission

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CAPE CANAVERAL, Fla. – The Air Force's mystery space plane is back on Earth, following a record-breaking two-year mission.

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The X-37B landed at NASA's Kennedy Space Center in Florida early Sunday. The Air Force is mum about what the plane did in orbit after launching aboard a SpaceX rocket in 2017. The 780-day mission sets a new endurance record for the reusable test vehicle.

It looks like a space shuttle but is one-fourth the size at 29 feet.

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Officials say this latest mission successfully completed its objectives. Experiments from the Air Force Research Laboratory were aboard.

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This was the fifth spaceflight by a vehicle of this sort. No. 6 is planned next year with another launch from Cape Canaveral. According to Air Force Secretary Barbara Barrett, "Each successive mission advances our nation's space capabilities."

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Diebold Nixdorf Inc. Q3 adjusted earnings Miss Estimates

Below are the earnings highlights for Diebold Nixdorf Inc. (DBD):

-Earnings: -$35.7 million in Q3 vs. -$238.5 million in the same period last year.
-EPS: -$0.46 in Q3 vs. -$3.13 in the same period last year.
-Analysts projected $0.24 per share
-Revenue: $1.08 billion in Q3 vs. $1.12 billion in the same period last year.

-Guidance:
Full year revenue guidance: $4.4 Bln

Gold prices tumble Rs 548 tracking tepid global trends

Silver prices also witnessed correction, falling Rs 1,190 to Rs 47,090 per kg, from Rs 48,280 per kg on Friday.

Gold prices on Tuesday tumbled Rs 548 to Rs 38,857 per 10 grams in the national capital in tandem with tepid global market trends, according to HDFC Securities.

The precious metal had closed at Rs 39,405 per 10 gram in the last trading session on Friday.

Silver prices also witnessed correction, falling Rs 1,190 to Rs 47,090 per kg, from Rs 48,280 per kg on Friday.

“Spot gold prices for 24 karat in Delhi fell by Rs 548 after Diwali holiday catching the fall in global markets.

“Spot demand for gold is expected to remain low due to Diwali vacations as major spot markets like Ahmedabad is closed on the occasion of Bhaiduj,” HDFC Securities senior analyst (Commodities) Tapan Patel said.

He further added that international gold prices were trading under pressure on optimism of the US-China trade deal.

In the global market, gold was quoting flat $ 1,493 per ounce and silver was trading lower at $ 17.77 an ounce.

“Gold traders may eye upcoming Federal Open Market Committee (FOMC) meeting as prices are stuck in broad narrow range,” he said.

Photograph: Reuters

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