Wendy’s serves up expectation beating earnings though shares fall on same-restaurant sales miss August 10, 2016 US burger chain Wendy's has beaten bottom line earning expectations, though same-restaurant sales rose less than expected. Shares were down 4.7 per cent in pre-market shortly before the market open. Net income fell to $26.5m (£20.2m), or 10 cents per share, in the second quarter from $40.2m a year earlier. Revenue slid 22 per cent to $382.7 million, mostly [...]
Before the bell: What you need to know before the US market open August 10, 2016 The UK economy is slowing down after its vote to quit the European Union and markets continue to knock on record highs. Here's what you need to know before the US market opens at 2:30pm London time. US markets are pointing up ahead of the open signalling the possibility of further all-time highs. The S&P is [...]
Coach misses expectations as it tightens supply to boost brand August 9, 2016 Luxury handbag maker Coach has narrowly missed analysts’ estimates for its latest quarter. Sales rose two per cent at North America stores open at least a year, the first quarterly rise in over three years. The rise was put down to higher online sales. Analysts on average had expected a 1.8 per cent rise. Net [...]
Rare Pokemon mean prizes in Canary Wharf August 9, 2016 Office managers in Canary Wharf can blame the Canary Wharf Group if some staff members have been spending even more time playing Pokemon Go this week. The group that oversees development of the Wharf is tempting workers to ditch their duties by offering rewards for those who hunt down and share tweets of rare Pokemon [...]
One of AstraZeneca’s big pipeline drugs just failed a late-stage trial August 9, 2016 Cambridge-based pharma firm AstraZeneca has suffered a set back after a new cancer drug failed at the trial stage. Experimental drug selumetinib failed to meet its goals – helping patients live longer or prevent the disease from worsening when combined with chemotherapy – in a late-stage trial for lung cancer. Shares in the company closed down by 0.3 per [...]
Worldpay shrugs off Brexit concerns as bumper earnings send shares higher August 9, 2016 Worldpay shares have nudged last year's peak today after the company reported better-than-expected earnings and declared a maiden interim dividend of 0.65p per share. The UK's largest payments processor reported a rise in first-half underlying earnings and pre-tax profit. It follows a disappointing first full year for the firm as a listed company. For the six months to [...]
Valeant falls woefully short of expectations but investors cheer full year guidance, sending the share price higher August 9, 2016 Valeant Pharmaceuticals – the Canadian drug giant that's been through a whirlwind year – has fallen far short of expectations in its second quarter. Investors were cheered however by the company dodging another profit warning as it reconfirmed its guidance for full-year profits. Shares climbed by over seven per cent in the pre-market before paring back gains. Read more: [...]
Before the bell: What you need to know before the US market open August 9, 2016 US stocks are nearing record highs and China's inflation grew at its slowest rate in seven months. Here's what you need to know ahead of the US market open at 2:30pm London time. US stock markets are nearing all time highs (the S&P 500 hit an all-time high of 2,185.54 points yesterday, although it pulled [...]
Vodafone has ditched separate line rental charges amid regulatory pressure over pricing August 9, 2016 Vodafone – the mobile phone giant that has recently turned its hand to broadband – has said it will scrap line rental charges in a UK industry first. Both new and upgrading home broadband customers in the UK will not be billed the £18 monthly charge if they commit to an 18-month contract. Vodafone came late to the broadband party in the [...]
Brits flash the plastic despite EU vote fears August 8, 2016 Card spending in the UK climbed in July as consumers flocked to hotels, bars, and restaurants. The latest Visa spending index was up from 0.9 per cent year-on-year in June to 1.6 per cent in July. However this was weaker than the rate of increase seen at the beginning of the year. The hospitality industry drove [...]
