The shale formation, a 50,000-square-mile area spanning northern Alberta and British Columbia, is considered one of Canada’s most attractive oil and gas-producing regions due to its strong economics.
The company said it will also sell its Uinta Basin assets in Utah to FourPoint Resources for US$2-billion. The engineering services firm says it earned net income attributable to shareholders of $103.7-million or 59 cents per diluted share for the quarter ended Sept. 30. The global investment firm says its distributable earnings amounted to 84 US cents per share for the quarter ended Sept. 30, up from 73 US cents per share a year ago.
Brookfield reported US$64-million or a 1 US cent per share in net income attributable to its shareholders for its third quarter, down from US$230-million or 12 US cents per share in the same quarter last year.) reported earnings that topped Wall Street’s estimates, propelled by blockbuster ticket sales from the rude and irreverent summer Marvel filmShares of the company jumped in Thursday trading.
Revenue reached US$22.6-billion, slightly ahead of Wall Street forecasts of US$22.45-billion. Operating income rose 23 per cent from a year earlier to nearly US$3.7-billion. Operating income at the Entertainment unit, which includes film, television and streaming, more than doubled to US$1.1-billion in the quarter, reflecting the return of Hulu’s Emmy-nominated comedyDisney’s flagship streaming video service, Disney+, boasted more than 122.7 million subscribers outside of India, a gain of 4.4 million from the prior quarter. The company intensified efforts to crack down on password sharing in September.
Capri shares were down on Thursday. They have lost nearly half of their value since a U.S. judge blocked the deal late last month. “We have always had multiple paths to growth and our decision today clarifies the forward strategy,” Tapestry CEO Joanne Crevoiserat said. Shares of the auto parts retailer were higher despite also reporting a surprise third-quarter adjusted loss of 4 US cents per share.The automotive industry has had a difficult second half of the year, burdened by inflationary headwinds and stiff competition from Chinese automakers putting out affordable yet feature-packed vehicles.
Brussels had accused Meta of distorting competition by tying its online classified ad business to its social network, automatically exposing Facebook users to Marketplace “whether they want it or not” and shutting out competitors. While the Chinese government has outlined stimulus measures to prop up economic growth, the lack of solid steps to boost consumption has also weighed on sentiment.
A bid to lure more customers in one of the year’s quietest shopping periods in China may be behind an increase of 25.7 per cent for marketing expenses, which reached 10 billion yuan or 3.8 per cent of net revenue for the quarter, compared to 3.2 per cent a year earlier.) forecast quarterly revenue and profit above Wall Street estimates after posting upbeat first-quarter results, helped by improving demand for its networking gear amid the AI boom.
The company had announced two rounds of layoffs this year in a bid to cut costs, as it shifts focus to cybersecurity, cloud systems and AI-driven products.
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