Live News Live News: US stocks trim weekly drop; ServiceNow nears $200bn market cap
Traders’ attention is turning to US economic data next week, including a monthly payrolls report, for fresh clues on the scope for Federal Reserve interest-rate cuts.14.30 - ServiceNow nears $200bn market cap ServiceNow, which announced plans to double its Irish workforce to more than 800 people last year, has reported strong third-quarter sales and bookings. However, analysts described its booking guidance for the final three months of the year as “good, but not great.
The German-headquartered software company, reported a 25 per cent rise in cloud revenues in its third quarter to €4.35 billion. Eamon Brabazon, who was named this month as the new co-head of global M&A at the US banking giant, told the Business Post that there were signs of an"early innings" for a significant uplift after the"nadir" of 2023.
The company said the recovery in revenues and order books it saw at the end of the first half of this year have continued into quarter tree three, “which in particular reflected growth in our North American construction revenue.”12.45 - Profits soar at world’s biggest wind turbine maker Goldwind Science & Technology, the world’s biggest wind turbine manufacturer, reported third-quarter profit growth thanks to lower production costs and China’s rapid buildout of clean energy.
The Stoxx 600 Autos and Parts Index rose as much as 2.3 per cent on Thursday, its third straight day of gains, after updates from Renault SA and Tesla added to optimism instilled by General Motors third-quarter beat. In the third quarter alone, European investment firms liquidated or merged 102 funds touting sustainable goals, bringing the total to 349 this year, according to a Morningstar analysis of the market published on Thursday.10.55 - Merrion Hotel pauses staff housing plans due to ‘prohibitive’ building costs Dublin’s Merrion Hotel has delayed plans to build accommodation for staff in a property to the rear of the city centre property due to the “prohibitive” cost of building.
A total of 11,774 new mortgages worth €3.4 billion were drawn down by borrowers during the period, according to the latest figures from the Banking and Payments Federation Ireland. A Dublin company cited in Cosgrave’s will in relation to the trust arrangements is the owner of properties in Dublin and Wicklow.09.35 - Norwegian misses profit expectations with growth for 2025 expected to slow Norwegian Air has reported operating profit of 2.13 billion Norwegian crowns in its third quarter.
Corre Energy was down by more than 12 per cent, leading the bottom performers table, while Datalex was also down more than 5.5 per cent in early trading. The survey comes as long-running — and sometimes controversial — talks between Swiss and EU officials on a revamp of bilateral relations enter the final stretch.More on this here
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