With COVID-19 surging in Wisconsin, the Green Bay Packers will continue their red-hot season without fans at Lambeau Field.
With COVID-19 surging in Wisconsin, the Green Bay Packers will continue their red-hot season without fans at Lambeau Field.
The Global Pre-filled Syringes Market will grow by $ 4.23 bn during 2020-2024
(Bloomberg) -- Total SE continued to ride out tough times for the oil industry by posting third-quarter profit that exceeded the highest analyst estimate, paying down debt and maintaining a generous dividend.The French energy giant, which has fared better than its rivals through the severe downturn caused by the coronavirus, still offered some cause for concern. The company boasted of its resilience to oil at $40 in a week when prices slumped below that level as the second wave of the pandemic took hold.The oil market remains uncertain and dependent on the speed of the global recovery, Total said in a statement Friday. Still, the company’s results were a bright spot in a gloomy industry. Third-quarter adjusted net income was $848 million, down 72% from a year earlier but well above the average analyst estimate of $478 million.“Total is not immune to sector headwinds, and has similar exposures to peers, however the balance sheet remains stronger,” RBC analyst Biraj Borkhataria wrote in a note. “Total has managed to find the balance between growing its low-carbon business, sustaining its core business and maintaining its dividend.”So far this week, Total’s European peers Repsol SA and BP Plc eked out small profits, while Italy’s Eni SpA and Austria’s OMV AG said they lost money in the quarter. On Thursday, U.S. oil giant Exxon Mobil Corp. said it will slash its global workforce by 15% to adjust to low prices.While Royal Dutch Shell Plc also reported better-than-expected earnings, the Anglo-Dutch company is struggling to match its French rival’s appeal to investors after slashing its dividend in April. Total is the only European major to leave its payout unscathed this year.Total shares rose 2.1% to 25.65 euros at 9:43 a.m. in Paris, while the country’s benchmark index dropped slightly.Low CostsThe company is benefiting from spending cuts initiated since the previous oil-industry downturn five years ago and investments in low-cost barrels. Its upstream operating expenditure has dropped by half since 2014 to $5 a barrel, which Total says is the lowest among the five supermajors.Total’s gearing, the ratio of net debt to capital, was 22% on Sept. 30, down from 23.6% three months earlier and well below the level of many of its peers. Debt-adjusted cash flow was $4.3 billion, down 41% from a year earlier.To weather the continuing downturn, Total cut its net capital expenditure forecast for this year by $1 billion to less than $13 billion. It also said it will surpass its $1 billion savings target for operating expenses.LNG ReboundMost of the company’s profit in the third quarter came from oil and gas production and gasoline sales at service stations. Total’s liquefied natural gas business was hit by plunging prices and its refineries posted a loss because of weak demand, especially for jet fuel.“The group benefited during the third quarter from a more favorable environment, with oil prices above $40 a barrel thanks to strong OPEC+ discipline as well as the demand recovery for petroleum products for road transportation,” Total Chief Executive Officer Patrick Pouyanne said in the statement.The company expects that the increase in oil prices over the second and third quarters will have a positive impact on its average LNG selling price in the fourth quarter. Refining margins have rebounded since the start of the fourth quarter, though remain fragile given the low demand for jet fuel, Total said.(Updates with analyst comment in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Authorities said the investigation began early Wednesday night when officers responded to a commercial burglary alarm and observed 10 to 15 staged vehicles in the City Avenue Marriott parking lot.
Do you think Jeremy Corbyn should have been suspended from the Labour Party over the damning report on Labour's handling of antisemitism.
There's been a rise recently in cases and deaths in some areas, but is this a longer-term trend?
(Bloomberg) -- Solid quarterly earnings from America’s biggest tech firms weren’t enough to keep investors from selling late Thursday, the latest sign sentiment is turning against ultra-expensive digital megacaps.Futures on the S&P 500 were down 1.4% as of 8:25 a.m. in London, after falling as much as 2.3%, while Nasdaq contracts were down 2%. Stocks had rebounded from the worst selloff in four months during the cash session ahead of the slate of megacap results.The slide follows a red-hot run this year that saw the tech giants help haul U.S. equities to new highs amid a rampant pandemic and severe economic downturn.“As we’ve seen in reactions from some of the earnings from these large companies even beats are not strong enough to satisfy this market, which I think speaks to how fully valued a lot of these stocks are,” said Evan Brown, head of multi-asset strategy at UBS Asset Management.In Europe, the Stoxx 600 fell as much as 0.9% in early trading before trimming losses, still down 0.3% -- marking a fifth consecutive day of losses and the longest losing streak since March -- as the Nasdaq sell-off added to fears over new lockdowns and upcoming U.S. elections. Apple suppliers fell along with retail stocks and autos.The quartet of reports comes after a wild two days for megacap tech. The Nasdaq 100 plunged 3.5% for the biggest rout in four months Wednesday before rebounding almost 2% in Thursday’s cash session.While the companies continue to deliver strong earnings, investors have turned their focus to whether a slower-growing economy will enable profit growth that justifies sky-high valuations.Facebook was little changed in late trade even after sales topped estimates when it warned of continued uncertainty due to Covid next year and said plans to spend heavily on employees and new technology. The social network makes up more than 4% of QQQ’s holdings.Apple reported quarterly results that topped Wall Street estimates after record sales of Macs and services made up for a delayed iPhone 12 launch. But its shares dropped almost 5% after the firm revealed iPhone revenue missed the average of analysts’ estimates.Amazon lost more than 1% in late trade after it said it planned to spend more than analysts estimated related to Covid-19. Otherwise, the online retailer projected a steep jump in sales in the current quarter, topping analysts’ estimates, indicating it expects the surge in online shopping during the pandemic to extend through the holiday season.Twitter Inc. also reported Thursday and its shares got hammered on concern about its user growth. Third-quarter sales exceeded estimates and results were boosted by a return of advertisers who had fled or pulled back from the website during the early stages of the pandemic. The stock lost 14%.Alphabet was a bright spot, rallying 8% after it returned to growth in the third quarter after a decline in the previous period, fueled by digital advertising. The Google parent reported third-quarter revenue, minus the cost of distribution deals for its search engine, rose 15% to $38 billion.The results failed to soothe concern that the rally in tech shares has gone too far, too fast. Optimism that their ability to cater for stay-at-home demand would help insulate the industry from a broad profit slump during the pandemic has sent their shares up 24% as a group since the start of the year, about 10 times as big as the S&P 500.Earlier: Tech-Bubble Prophets Are Validated as Stock Rout Spares No On“It tells us that even though these stocks are below their late-summer highs, they’re still expensive,” said Matt Maley, chief market strategist at Miller Tabak + Co. “So unless they beat expectations in a significant way, investors are taking further profits. Who can blame them, given that the capital gains tax is going to rise if Biden wins next week?”This earnings season has been particularly harsh for internet and software companies. Broadly, better-than-expected results got no rewards, but tech fared the worst among major S&P 500 industries, with shares of those reported falling an average 3% the next day post results, data compiled by Bloomberg showed.Since the reporting season started two weeks ago, tech stocks in the S&P 500 have dropped more than 7%, the worst performance this far into an earnings cycle in more than a decade.“The last thing investors needed amid rising Covid cases and the upcoming election was to see weak tech earnings drain sentiment from the market’s main area of support,” said Adam Phillips, director of portfolio strategy at EP Wealth Advisors.(Updates with latest U.S. equity futures moves)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Statistically speaking, long term investing is a profitable endeavour. But unfortunately, some companies simply don't...
On Oct 26, 2020, the Financial Times (FT) released its annual Executive MBA Ranking. Four programs from School of Management of Fudan University (FDSM) were nominated among the top 40 in the world, steadily improving upon their ranking over the years.
SpiceJet will fly the aircraft to the site of the world's tallest statue among its new routes.
Dublin, Oct. 30, 2020 (GLOBE NEWSWIRE) -- The "United States Completion Equipment and Services Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering. The United States completion equipment and services market is expected to grow at a CAGR of more than 2% over the period of 2020-2025. Factors such as increasing production from conventional and unconventional resources and reducing maintenance costs of the well are expected to drive the market. However, volatility in the crude oil and natural gas prices leading to decreasing exploration and production activities may restrain the growth of the market. Shale oil and gas production is expected to drive the market in the forecast period. The complexity of production and multilateral drilling and production from the well requires high quality of well completion and its services, which is expected to aid the market. New development in the intelligent well completion technology, like the advancements in the high-end self-adaptive inflow control completion technology, is expected to make the oil and gas production more viable and may provide an opportunity for market players. Crude oil and natural gas production are expected to continue to be a vital part of meeting global energy demand, and the offshore segment is expected to witness significant growth in the forecast period. Increasing advancements in technologies are expected to aid the growth of the segment. Key Market Trends Shale Oil and Gas Production to Drive the Market The United States was the largest producer of crude oil in the world, in 2019. It is also among the largest user of well completion techniques, which, among others, are used in the economically viable recovery of unconventional sources of hydrocarbons in the country's shale plays. This is because shale oil and gas reservoirs are more complex to handle and tend to mature faster than conventional wells. Therefore, unconventional reservoirs require higher usage of well completion tools and services to produce the oil. * Shale gas production in the United States is estimated by the Energy Information Administration to be around 69.19 billion cubic feet, in 2019. The production is expected to increase further in the forecast period and aid the growth of the United States completion equipment and services market. * Using advanced approaches like increasing treatment sizes, the move away from crosslinked gels to slickwater fracks, and increasing proppant intensity as the primary drivers behind enhanced well completions. Advancement in the technology for shale oil and gas reservoir is expected to grow the production and aid the completion equipment and services market. * The maximum gas recovery factor from shale gas reservoirs is low compared with conventional reservoirs. Therefore, more wells are required to be drilled to produce an equal amount of oil in a time period. Moreover, Continued innovation in the well completion stages is expected to make the equipment more reliable, thereby increasing the usage of well completion methods like gravel packers over acidization. * Shale oil and gas are expected to drive the market in the forecast period due to an increase in production, advancements in technologies, and high efficiency in aiding the production of oil and gas.Offshore Segment to Witness Significant Growth In the offshore segment, where the well intervention is expensive and high-risk, well completions equipment and services have proven their value in managing production from multilateral wells, horizontal wells with multiple zones, wells in heterogeneous reservoirs, and mature reservoirs. Further advancements in the technologies are expected to aid the growth of the market. * The completion equipment improvements have incorporated new paradigms in the sector like intelligent or smart well completion. Intelligent completions include permanent downhole sensors that transmit data to surface for local or remote monitoring in a digital well platform. All these data may or may not be automated but deliver to increase the production of the well. These systems are being used in the offshore segment as a method to decrease the production of water from the wells. * In 2019, Emerson, in partnership with Metrol, a leader in battery-powered wireless well monitoring, has launched the Intelligent Multistage Completion Network and integrated upper and lower completions downhole solution that communicates wirelessly with instruments at the reservoir sand face, the physical interface between the formation and the wellbore. This is enabled by a new wireless interface that generates crucial zonal flow information and sand face monitoring in the lower completion. Further advancements in the market are expected to create more reliability and growth in the market. * Offshore accounted for 4.33% of the total number of rotary rigs in the United States. Increasing prospects in the Gulf of Mexico due to the growing number of natural gas infrastructure projects and the ever-increasing demand for natural gas in the country are expected to aid the growth of the offshore segment. * Chevron and Total have sanctioned the Anchor project in the U.S. Gulf of Mexico. The Anchor project is the industry's first deepwater high-pressure development to achieve a final investment decision (FID). Advancement of the new technology in well completion and production, which is capable of handling pressures of 20,000 psi, enables access to other high-pressure resource opportunities across the Gulf of Mexico, thereby attributing to the growth of the market. * Hence, the offshore segment is expected to be the fastest-growing segment in the forecast period due to an increase in free cash flow, advancement in technology, and an increase in oil production.Competitive Landscape The United States completion equipment and services market is moderately fragmented. Some of the key players in this market are Schlumberger Ltd., Halliburton Company, Baker Hughes Company Weatherford International plc, and National-Oilwell Varco Inc. For more information about this report visit https://www.researchandmarkets.com/r/pqdxp0 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Futures fell sharply, suggesting Thursday's market rally may be fleeting. Apple sank on weak China sales. Amazon also fell. But Google jumped on a huge night for earnings.
Every election campaign uses more sophisticated tech, but the text message still cuts through.
The driver and passenger of a van were arrested on Wednesday with dynamite, a propane tank torch, a Taser and tools including electric drills, bolt cutters and machetes, Shapiro said in a statement late on Thursday. The two suspects appeared to be part of a larger ring of 10-15 vehicles that had set off from a parking lot in a convoy, it said, citing Philadelphia police who were responding to a commercial burglary alarm. "These individuals who have been charged today tried to use a message of justice to provide cover for their own gain," Shapiro said, referring to the street unrest over the police shooting of Walter Wallace.
A market sell-off earlier this week continued on Friday, despite ECB stimulus to come and strong US economic data and tech earnings.
Hong Kong authorities on Friday said they will launch proceedings at the World Trade Organization to challenge a demand by the United States to label imports from the financial hub as "Made in China".
European equities fall and U.S. stock futuers are also lower after Apple and Amazon.com shares fell on results late Thursday. A week of increasing concerns over COVID-19 and restrictions have taken a toll on markets.
Ladies and gentlemen, thank you for standing by and welcome to the Third Quarter 2020 Bio-Rad Laboratories Incorporated Earnings Conference Call. Today, we will review the third quarter of 2020 and with me on the phone today are Norman Schwartz, our Chief Executive Officer; Ilan Daskal, Executive Vice President and Chief Financial Officer; Andy Last, Executive Vice President and Chief Operating Officer; Annette Tumolo, President of the Life Science Group; and Dara Wright, President of the Clinical Diagnostics Group.
Thank you for joining us on Exponent's third quarter of fiscal year 2020 financial results conference call. This conference call is the property of Exponent, and any taping or other reproduction is expressly prohibited without prior written consent. Joining me on the call today are Dr. Catherine Corrigan, President and Chief Executive Officer; and Rich Schlenker, Executive Vice President and Chief Financial Officer.
FTNT earnings call for the period ending September 30, 2020.
This afternoon's call will be hosted by Brookline Bancorp's executive team, Paul A. Perrault and Carl M. Carlson. This call may also contain forward-looking statements with respect to the financial condition, results of operations and business of Brookline Bancorp.