) were higher on Thursday after it beat first-quarter revenue expectations, lifted its annual financial forecast and raised its annual dividend by 10 per cent to US$2.16 as it continued to invest heavily in artificial intelligence.
“We remain committed to investing in content-driven technology that helps professionals make complex decisions with confidence,” Thomson Reuters CEO Steve Hasker said. It forecast total revenue from its big three business segments of legal, tax and accounting and corporates, to rise by between 8 per cent and 8.5 per cent, up from 8 per cent.) increased despite missing analysts’ estimates for first-quarter profit on Thursday, hurt by lower-than-expected production, along with a decrease in sales and realized pricing.
The realized natural gas price fell 40 per cent to $2.55 per thousand cubic feet on average for the quarter from a year earlier, while in oil sands mining, SCO prices decreased nearly 8 per cent to an average $88.84 per barrel. Overall production came in at 1.33 million barrels of oil equivalent per day , lower than analysts’ expectations of 1.35 million boepd.
Mr. Tyra and other Gildan executives attributed the lower results in its first quarter not to the leadership battle but expected softness that materialized in its hosiery and underwear segment.Sales across the category totalled US$103.7-million, down 10 per cent from a year earlier. They reflected “broader market weakness” and a March end to the licensing agreement the company had with sportswear giant Under Armour.
These developments weighed on Gildan, which is known for manufacturing clothing that brands and consumers customize with their logos. Mr. Tyra saw the quarter as showing the company’s “resilience” and he and other Gildan leaders who joined him on the call highlighted the performance of the business’s activewear division, which saw its sales rise just shy of one per cent from a year ago to US$592.1 million.
Mr. Tyra responded saying he had interviewed some of the candidates who are slated to join the board, but the decision of who was offered a seat was not his.Gildan also said Wednesday that its diluted earnings per share were 47 US cents for the quarter, which compared with 54 US cents a year earlier. Analysts had expected the company to report a gain of about 52 cents US per share, according to financial markets data firm Refinitiv.
The company, the biggest supplier of smartphone chips, was on course to add more than US$8-billion to its market value based on premarket movements. Other semiconductor firms such as Arm improvement as inventory normalizes,” analysts at Wolfe Research said.) rose despite missing Wall Street estimates for first-quarter profit on Thursday, as demand concerns led to a sharp fall in natural gas prices.
ConocoPhillips said it expects continued volatility in the second quarter coming from its operations in the Permian Basin, the main U.S. shale basin, due to pipeline maintenance and third-party offtake constraints. The Cambridge, Massachusetts-based company reaffirmed that it expects to receive approval from regulators for its respiratory syncytial virus vaccine in time for it to be included in this fall’s U.S. vaccine campaign.
Moderna reaffirmed its 2024 sales forecast of US$4-billion, the lowest figure for annual revenue since its COVID vaccine got U.S. emergency authorization in late 2020. Shares of the beleaguered New York-based company rose as it also aims to pare its retail presence, potentially forcing Peloton to again push back its goal of returning to positive cash flow.
Still, demand for its equipment has remained weak as customers cut back spending due to elevated inflation and rising borrowing costs. Operating expenses climbed by 6 per cent or $311-million, compared to the same quarter of 2023. “The increase was due to higher costs in nearly all line items reflecting higher operated capacity and traffic year over year, in addition to higher labour, maintenance and information technology expense. Lower fuel expense partially offset the increase,” Air Canada said in a statement, released before markets opened.
Bank of Montreal analyst Fadi Chamoun said sales in most regional markets topped his outlook, with the exception of Atlantic Canada. Advance ticket sales point to a strong summer, Mr. Chamoun said in a research note. All things considered, Mr. Chamoun described Air Canada’s quarter as “largely in line” with expectations.) was lower after reporting its first-quarter profit fell compared with a year ago as it faced higher severance, acquisition and other costs related mainly to job cuts.
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