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April 7, 2020
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Reuters - Business

Samsung first-quarter beats estimates; chips likely to prop up virus-hit second-quarter

Reuters
SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs. The global leader in semiconductors is benefiting from......
Reuters - Business

Samsung Electronics beats first-quarter estimates, braces for bigger blow from coronavirus

Reuters
SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) said on Tuesday its first-quarter operating profit likely managed to rise slightly from a slump a year earlier, as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs. FILE PHOTO: The logo of Samsung Electronics is......
Reuters - Business

Solid chip sales unlikely to cushion Samsung’s virus-hit first quarter profit

Reuters
SEOUL (Reuters) – The coronavirus-driven global shift to working from home is set to have boosted demand for Samsung Electronics’ memory chips from laptop makers and data centres, but first-quarter profits are likely to remain flat as the outbreak weakened consumer electronics sales. FILE PHOTO: ‘Closed’ notices are displayed at......
Reuters - Business

H&M sees second-quarter loss as pandemic slams sales in March

Reuters
STOCKHOLM (Reuters) – H&M (HMb.ST), the world’s second-biggest clothing retailer, said on Friday it expected a loss in the second quarter after reporting a 46% plunge in March sales as the coronavirus pandemic took a toll on the retail sector. FILE PHOTO: The H&M clothing store is seen in Times......
Reuters - Business

Sweden’s H&M sees second-quarter loss as pandemic slams March sales

Reuters
FILE PHOTO: The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar STOCKHOLM (Reuters) – H&M (HMb.ST), the world’s second-biggest clothing retailer, reported on Friday a 46% plunge in March sales as the coronavirus pandemic took its toll and said it......
Reuters - Business

Nike revenue beats as digital growth offsets rare China sales fall on virus hit

Reuters
(Reuters) – Nike Inc (NKE.N) beat estimates for quarterly revenue on Tuesday as strong digital demand offset the first China sales drop in nearly six years from the coronavirus-fueled shutdowns, but the company held back from providing a forecast due to the outbreak. FILE PHOTO: The Nike swoosh logo is......
Reuters - Business

S&P 500 earnings expected to decline 0.2% in first quarter from year earlier

Reuters
FILE PHOTO: A Wall Street sign is seen in Lower Manhattan in New York, January 20, 2016. Wall Street moved deep into the red on Wednesday, with the S&P 500 hitting its lowest since February 2014 and extending this year’s selloff as oil prices continued to plummet unabated. REUTERS/Mike Segar......
Reuters - Business

Factbox: Aramco 2019 profit drops, a week after shares fell below IPO

Reuters
DUBAI (Reuters) – Saudi Arabia’s state-run oil giant Saudi Aramco (2222.SE) announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts’ expectations just three months after selling shares to the public in a record-setting IPO. The decision last year to float shares in the......
Reuters - Business

Aramco to cut capital spending over coronavirus; 2019 profits plunge

Reuters
DUBAI (Reuters) – Saudi Aramco 2222.SE on Sunday said it plans to cut capital spending in the wake of the coronavirus outbreak, and also posted a plunge in profit for last year, missing forecasts in its first earnings announcement as a listed company. FILE PHOTO: A view shows branded oil......
Reuters - Business

Aramco’s 2019 profit falls 21%, plans to adjust capital spending

Reuters
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo DUBAI (Reuters) – Oil giant Saudi Aramco 2222.SE on Sunday posted a 21% decline in 2019 net profit due to a drop in oil prices and production,......
Reuters - Business

Oracle’s cloud push powers quarterly profit, revenue beat

Reuters
(Reuters) – Growth in cloud business helped Oracle Corp top quarterly profit and revenue on Thursday and said the coronavirus will have “minimal impact” on the fourth-quarter revenue, which is usually skewed toward software licenses rather than hardware. An exterior view of the Oracle Field Office at Wilson Boulevard in......
Reuters - Business

LATAM Airlines, Azul to cut international flights up to 30% due to coronavirus

Reuters
SAO PAULO (Reuters) – LATAM Airlines Group (LTM.SN) and Brazil carrier Azul SA (AZUL.N) said on Thursday they will cut capacity on international flights by up to 30% as demand has collapsed due to the global coronavirus outbreak. FILE PHOTO: An Azul Brazilian Airlines Airbus A330-200 plane prepares to take......
Reuters - Business

Record profit lifts Aviva shares, pays out on coronavirus claims

Reuters
LONDON (Reuters) – Aviva (AV.L) shares jumped on Thursday as the life and general insurer posted a record profit in its first year under chief executive Maurice Tulloch, although he said coronavirus added uncertainty to the outlook. A pedestrians walks past the Aviva logo outside the company head office in......
Reuters - Business

Hugo Boss sees coronavirus hit to sales spreading from Asia

Reuters
FILE PHOTO: Jackets are on display in the Hugo Boss section in the Central Universal Department Store (TsUM) in Kiev, Ukraine, May 17, 2017. REUTERS/Valentyn Ogirenko/File Photo BERLIN (Reuters) – German fashion house Hugo Boss (BOSSn.DE) warned on Thursday that the coronavirus will have a significant impact on its first-quarter......
Reuters - Business

Lego classics build growth for Danish toymaker in shrinking market

Reuters
COPENHAGEN (Reuters) – Model fire stations and garbage trucks helped Lego defy a shrinking toy market with a rise in sales last year, as the plastic brick maker outpaced rivals with the latest versions of its classic kits, as well as new stores and a revamped website. FILE PHOTO: Rita......
Reuters - Business

Nordstrom sales miss, sees 2020 earnings below estimates

Reuters
NEW YORK (Reuters) – Nordstrom Inc (JWN.N) forecast a 2020 profit largely below market expectations on Tuesday, after the upscale apparel retailer missed estimates for fourth-quarter revenue, sending its shares down nearly 8% in after-market trading. FILE PHOTO: The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017.REUTERS/Rick Wilking/File......
Reuters - Business

Nordstrom sees 2020 earnings largely below estimates, shares fall 9%

Reuters
FILE PHOTO: The company logo for Nordstrom Inc, is displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., October 22, 2019. REUTERS/Brendan McDermid/File Photo (Reuters) – Nordstrom Inc (JWN.N) forecast a 2020 profit largely below market expectations on Tuesday, after the upscale apparel retailer......
Reuters - Business

Lindt promises sweet dividend and further growth

Reuters
Raisins noisettes chocolates are displayed during the annual news conference of Swiss chocolatier Lindt & Spruengli in Kilchberg, Switzerland March 5, 2019. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Swiss chocolate maker Lindt & Spruengli (LISN.S) (LISP.S) on Tuesday proposed a sweeter payout to shareholders, increasing its dividend by 75% to mark......
Reuters - Business

Coronavirus expected to hurt U.S. earnings harder and longer

Reuters
NEW YORK (Reuters) – The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict. A trader wears a helmet as he works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. REUTERS/Brendan McDermid Wall Street......

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