Entergy Corp. (NYSE: ETR) is an electric utility company that provides electricity to customers in Arkansas, Louisiana, Mississippi, and Texas.The company serves 2.9 million customers in the region.
Entergy has been trending higher essentially since the beginning of 2014.
State Street Corp. is curing 15% of its senior management, according to a report in Bloomberg. Those affected include executive vice-presidents and senior VPs.
Ronald O’Hanley, who took over this month as CEO of the money-management and custody-banking giant, wants to reduce expenses, automate more functions and simplify the organizational structure.State Street needs to “structurally compress” upper management, he was reported as saying last month at a Goldman Sachs U.S. Financial Services Conference in New York.
Shares of Chesapeake Energy surged nearly 10% last Wednesday after the oil and gas company reported strong production outlook for the fourth-quarter.
CHK’s revised strategy to focus on oil production and to move away from gas finally paid off, after the Oklahoma-based oil producer said that it expects the total production to hover somewhere in-between 462,000 and 464,000 barrels of oil equivalent (BOE) per day for the December ending fourth-quarter.FactSet consensus expected the production to touch 448,000 BOE per day.
CHK further added that it expects oil production to range between 86,000 to 87,000 barrels (bbls) of oil per day, compared to FactSet consensus of 85,200 bbls per day.
The Nikkei Asian Review on Wednesday confirmed that Apple is ready to slash its new iPhone production by about 10% over the next three months.
According to Nikkei, the tech giant has already intimated its suppliers in December to produce fewer new iPhones than what was initially planned for first quarter of 2019.
This would entail a reduction from the overall planned production volume for new and old iPhones to about 40 million to 43 million units for the March quarter — down from an earlier prediction of 47 million to 48 million units.
This would be the second time in two months that Apple is trimming its smartphone production.The new revised plan would apply to all new iPhone models — the XS Max, XS and XR.
Apple, including its rivals like Samsung, is now finding itself in a highly competitive market where growth is falling.
Wall street analyst, William Crow, recently downgraded Hyatt from outperform to market perform and removed its $80 price target.His rationale was that a challenging economic backdrop is expected to hurt the prospects of Hilton Hotels most, resulting in a substantial slowdown in the company’s asset sales in 2019.
Hyatt’s attractive stock valuation remains comparable with Hilton Hotels Corporation and Marriott International Inc.
Its shares dropped more than -10% Wednesday, following the announcement.
The beverage maker said that net income for its fiscal quarter ending November 30, decreased around -38% to $303.1 million (or $1.56 a share) - from $492.8 million (or $2.45 a share) a year earlier.Constellation’s operating margin in the period decreased 60 basis points to 37.3%.
The company made a downward revision to its fiscal 2019 profit outlook to a range of $9.20 to $9.30 a share, compared to prior forecast of $9.60 to $9.75 a share.
However, sales were a bright spot.
USDCAD pair is trading in red for sixth consecutive trading session today underpinned by increased risk on trading activity in global markets and bounce in crude oil price.The pair hit fresh one month lows today as Loonie gained momentum owing to crude oil price breaching $50 per barrel. READ MORE...
Adding 1 million customers in the fourth quarter, T-Mobile US Inc. exceeded Wall Street expectations on net new phone subscribers who pay a monthly bill.Analysts estimated the number to be 857,900, according to research firm FactSet.
The percentage of subscribers who leave a service provider was 0.99 percent for the mobile carrier in the fourth quarter, down from 1.02 percent in the quarter ended September 30.
Even in the third quarter, T-Mobile’s net new phone subscribers (along with its profit) had edged past analysts' estimates,on the back of its competitive wireless plans and trade-in offers for iPhones.
AT&T is preparing for yet another significant round of layoffs according to internal documents obtained by Motherboard.The staff reductions come despite billions in tax breaks and regulatory favors AT&T promised would dramatically boost both investment and job creation.
The Justice Department has said in a court filing that a partial government shutdown could delay its response to comments on pharmacy chain CVS Health Corp’s (CVS.N) purchase of health insurer Aetna, a necessary step in a court giving final approval to the deal.READ MORE...
Chinese company Baidu’s technology will soon be helping deliver grocery for Walmart.
California startup Udelv has built self-driving vehicles using Baidu’s open-source autonomous driving software named Apollo, and plans to deploy them for delivering food items for U.S. supermarket chain Walmart.Last year in Arizona, Walmart began testing the waters with a pilot program using Waymo, the self-driving car division of Google's parent company Alphabet.
General Dynamics Information Technology (GDIT) on Monday announced its collaboration with U.S. Navy's Space and Naval Warfare Systems Center (SPAWARSYSCEN) Atlantic (AT) in the form of an $898 million Navy Cyber Mission Engineering Support award contract, aimed at providing state-of-art solutions for the Navy and Marine Corps' warfighting needs.
The award contract includes one two-year option ordering period, and one six-month option-to-extend-services ordering period.Further, GDIT will also aim to compete for individual task orders showcasing its next-generation cyber and electronic warfare solutions, which would be particularly beneficial for the Navy’s foremost national security missions.
According to GDIT’s Defense Division and Senior Vice President, Leigh Palmer, the deal is a big win for the company and he is optimistic that GDIT will utilize its decades of engineering and technical expertise to build mission- focused electronic warfare services across the various Na
The South Korean tech giant, Samsung Electronics, on Tuesday announced its Q4 earnings guidance.Samsung expects its consolidated sales for the fourth-quarter to be around 59 trillion won, ~10.57% down from what it was a year ago, compared to analysts’ expectation of 62.8 trillion won.
According to the chipmaker, weaker-than-expected demand for memory chips from data center customers resulted in a decline in the number of shipments and a considerable drop in memory chip prices, which in turn impacted profitability.
Shares of the embattled utility company, PG&E, tumbled as much as 17% on Tuesday after S&P Global relegated the utility’s credit rating to junk, with a negative outlook on the back of its potential liability in the California wildfires.
S&P downgraded the rating on PG&E and its subsidiary Pacific Power & Gas from BBB-, the lowest tier of investment-grade ratings, to B (which is deep into junk territory) citing political and regulatory pressure and uncertainty surrounding its potential liabilities.
To make matters more challenging, PG&E's is likely to face much higher interest rates in the event they need to borrow money to fund penalties and operations.S&P Global also indicated limiting PG&E’s capital access to secured debt issuance, citing credit risk and speculation of a potential bankruptcy, thereby further limiting its financing options.
Much like its stock shares, PG&E’s largest bond, a $3 billion note due in March 2034 with a 6.05%
Century-old American multinational, General Motors, announced its plans to introduce a record 20+ new and refreshed models in China in 2019, in an effort to maintain its growth momentum in the world’s largest vehicle market and to tap emerging opportunities in new energy vehicles (NEVs).
According to the company, nearly half of the models that are planned for introduction in 2019 will bear new nameplates for GM’s China portfolio, developed by leveraging GM’s global expertise and vehicle design and engineering resources.
China has been the largest retail sales market for GM since 2012, but the recent decline in auto sales in China has become an area of concern for the US carmaker.He also added that GM will continue to augment its product mix, backed by its industry-leading technologies and adjacent services, and to explore more opportunities in electrification and autonomous driving in China to drive growth.
Google is expanding in L.A., the company announced Tuesday.The company has leased the current site of a shopping mall in West Los Angeles that it will turn into a 584,000 square-foot office campus, according to a press release.
Apple’s growing ecosystem of devices and services is “probably underappreciated” by naysayers on Wall Street, CEO Tim Cook told CNBC in an interview Tuesday.READ MORE...
Verizon Communications Inc. added wireless subscribers for seven straight quarters.
According to preliminary fourth-quarter results released Tuesday, the largest U.S. wireless carrier added 1.2 million regular monthly customers in the holiday quarter.
Chief Executive Officer Hans Vestberg has been focusing on 5G technology and other wireless segments, after the company’s not-so-smooth ride with its Yahoo and AOL businesses in recent times.The company has embarked on a four-year, $10 billion cost-cutting plan, which included cutting 10,400 jobs through a buyout program last month.
Looking through thousands of charts each week, it is hard to find many stocks that have been able to maintain any kind of upward momentum in the last six months.One stock that I took not of last night was Church & Dwight (NYSE: CHD).
Barbie is finally getting her own big-screen movie.
Toy company Mattel said Tuesday it is partnering with Warner Bros.to bring the iconic doll to theaters with Academy Award-nominated actress Margot Robbie to star.READ MORE...