ConocoPhillips share price falls as it whittles down dividend due to commodities slump February 4, 2016 ConocoPhillips unveiled deep cost-cutting measures today, as it became the first US oil major to slash its quarterly dividend, due to the increasingly gloomy outlook for commodities and tighter credit conditions across the industry. Shares in ConocoPhillips, the largest US independent oil and gas company, slumped 1.24 per cent to $38.15. It cut capital expenditure forecasts for 2016 to [...]
From Deutsche Bank to Credit Suisse and RBS: This chart shows exactly how much global banks’ share prices have fallen this year February 4, 2016 An interesting note from Panmure Gordon market commentator David Buik, who laid out this afternoon, in percentage terms, exactly how much banks have suffered in the first weeks of 2016. The out-and-out winner in the loser stakes is Deutsche Bank, whose share price has fallen 39.6 per cent, from €23.01 to €15.05 since the beginning of [...]
Dunkin Donuts surprises with US sales dip as Baskin Robins ice cream demand grows February 4, 2016 Dunkin' Brands Group, the owner of Dunkin' Donuts and Baskin-Robbins, has reported expectation beating results for the fourth quarter, despite its key US sales declining. The company posted a loss of $8.9m (£6.1m) for the period, down from a profit of $52.5m in the same three months last year. Global revenue climbed 5.5 per cent to [...]
Sofa-maker DFS sitting comfortably as sales jump February 4, 2016 Sofa chain DFS furniture said it remained on track to hit full-year profit expectations after a jump in the sales in the first half of the year. The Doncaster-based firm, which also trades as Dwell and Sofa Workshop, said all of its brands performed well in the 26 weeks to 30 January, with sales up [...]
AstraZeneca’s share price falls after revenue warning as it teeters on edge of patent cliff February 4, 2016 The so-called patent cliff is fast approaching for drug maker AstraZeneca as its warns that revenue and earnings could fall as rivals begin production on it’s money spinning cholesterol drug Crestor. The London listed company is pinning its hopes on its pipeline of experimental drugs that are are not expected to begin generating revenue in [...]
Three owner Hutchison pledges five-year price freeze to ease competition concerns over merger with O2 February 4, 2016 Tens of millions of UK mobile phone customers could see their costs frozen for the next five years, as CK Hutchison tries to sway competition watchdogs over Three’s merger with O2. As Three’s parent company, Hutchison has pledged a #5bn investment to ease concerns over its proposed takeover of O2. Together, the two would create [...]
Nokia’s fall after the patent license arbitration with Samsung shows investors overreact wildly to intellectual property news February 4, 2016 When Nokia released information about the outcome of its patent licensing arbitration with Samsung, its share price fell by over 10 per cent within hours. This is not the first time that stock prices have reacted in an unpredictable fashion to intellectual property (IP) news. The poster child for this mispricing was when GoPro stock [...]
Ouch: Credit Suisse has cut bonuses by 36 per cent February 4, 2016 Having unveiled its first annual loss since 2008, there was one more howl of pain in store for Credit Suisse bankers this morning, after chief executive Tidjane Thiam told analysts the bank has slashed bonuses by more than a third in its investment bank. On a call with analysts this morning, Thiam said bonuses at [...]
FTSE 100 index opens up as oil prices surge lifting oil companies and miners including Anglo American and Glencore ahead of the Bank of England’s interest rate decision February 4, 2016 The FTSE 100 index opened up this morning as markets priced out a further interest rate increase by the Federal Reserve this year, in turn causing the dollar to slide and the price of oil to rally. The UK's blue chip index rose 1.46 per cent to 5,924 points ahead of the Bank of England's latest [...]
Vodafone share price rises on sixth consecutive quarter of improving sales fuelled by emerging markets growth February 4, 2016 Strong growth in emerging markets lifted Vodafone to its sixth consecutive quarter of improving sales. The figures Vodafone reported group organic service revenue up by 1.4 per cent to £10.3bn in the quarter ending 31 December 2015, up from 1.2 per cent the previous quarter. Sales in Africa, Middle East and Asia Pacific were especially [...]