E.W. Scripps Posts Loss In Q3 – Quick Facts
The E.W. Scripps Company (SSP) reported a loss per share from continuing operations of $0.27 for the third quarter of 2019 compared to profit of $0.24 per share, prior year. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.12, for the quarter. Analysts’ estimates typically exclude special items. The company noted that pre-tax costs for the current quarter included $16.7 million of acquisition and related integration costs that increased the loss by 16 cents per share.
Third-quarter operating revenues increased to $349.78 million from $302.73 million, prior year. Analysts expected revenue of $342.78 million, for the quarter. Revenue from Local Media was $252 million, up 9.4 percent from the prior-year quarter.
Thermo Fisher sets new $2.5 billion stock buyback program
Thermo Fisher Scientific Inc. TMO, -0.35% announced Friday a new $2.5 billion stock repurchase program, with no expiration date. The analytical instruments and patient diagnostics company’s new program replaces the current authorization, which had $500 million remaining. Based on Thursday’s stock closing price of $293.54, the new program would allow for the repurchase of up to 8.5 million shares, or about 2.1% of the shares outstanding. The stock rose 0.3% in premarket trading. It has run up 31.2% year to date through Thursday, while the SPDR Health Care Select Sector ETF XLV, +0.22% has gained 9.2% and the S&P 500 SPX, +0.27% has rallied 23.1%.
Thermo Fisher Board Authorizes $2.5 Bln Buyback, Declares Dividend – Quick Facts
Thermo Fisher Scientific Inc. (TMO) said the company’s board has authorized the repurchase of $2.5 billion of shares of its common stock in the open market or in negotiated transactions. The new authorization replaces the company’s existing repurchase authorization, of which $500 million was remaining.
Thermo Fisher Scientific Inc. also announced its board has declared a quarterly cash dividend of $0.19 per share. The dividend will be paid on January 15, 2020, to shareholders of record as of December 17, 2019.
Unit Corp. Q3 adjusted earnings Miss Estimates
Below are the earnings highlights for Unit Corp. (UNT):
-Earnings: -$206.89 million in Q3 vs. $18.90 million in the same period last year.
-EPS: -$3.91 in Q3 vs. $0.36 in the same period last year.
-Excluding items, Unit Corp. reported adjusted earnings of -$15.71 million or -$0.30 per share for the period.
-Analysts projected -$0.16 per share
-Revenue: $155.44 million in Q3 vs. $220.06 million in the same period last year.
European Economics Preview: Germany Foreign Trade Data Due
Foreign trade from Germany and industrial production from France are due on Friday, headlining a light day for the European economic news.
At 1.00 am ET, September industrial output and orders from Statistics Finland is due.
At 1.45 am ET, the State Secretariat for Economic Affairs is set to issue Swiss unemployment data. The jobless rate is forecast to remain unchanged at 2.3 percent in October.
At 2.00 am ET, Destatis is set to issue Germany’s foreign trade figures. Exports are expected to grow 0.3 percent on month and imports to remain flat in September.
At 2.45 am ET, France industrial production, balance of payment and foreign trade figures are due. Economists expect manufacturing output to rise 0.2 percent on month in September, in contrast to a 0.8 percent fall in August.
At 3.00 am ET, the Hungarian Central Statistical Office is set to issue consumer prices and industrial production. Inflation is seen unchanged at 2.8 percent in October.
At 5.00 am ET, consumer price data is due from Greece. Prices are forecast to drop 0.3 percent on year in October following a 0.1 percent fall in September.
Big Valley Jamboree releases 2020 artist lineup
Big Valley Jamboree is back for summer 2020 and Eric Church, Dierks Bentley and Dallas Smith are the country names headlining the massive summer music festival.
“As one of Canada’s best-loved country music brands, BVJ is eager to put on another world-class event for some of the best country music fans anywhere on the planet,” a news release from the festival read.
NY Fed accepts $70.64 bln in overnight repo bids
Nov 8 (Reuters) – The New York Federal Reserve on Friday accepted all $70.64 billion in bids from primary dealers at an overnight repurchase agreement (repo) operation, a move intended to help maintain the federal funds rate within its target range.
Friday’s amount was lower than the $80.14 billion in repos awarded on Thursday.
The U.S. overnight repo rate was last at 1.63%. (Reporting By Karen Brettell; Editing by Alex Richardson)
Fire breaks out at second floor unit in Lengkok Bahru
SINGAPORE – A fire broke out in a second floor unit in Lengkok Bahru on Friday (Nov 8) afternoon.
The Singapore Civil Defence Force (SCDF) were called to a unit on the second floor of Block 55 Lengkok Bahru in Redhill at about 4.15pm and found the contents of a living room ablaze.
It was extinguished with one water jet with no casualties reported.
The SCDF is investigating the cause of the fire.
U.S. Central Command says no U.S. military drones shot down
WASHINGTON (Reuters) – All Pentagon drones are accounted for, the U.S. Central command said in a statement on Friday, following reports from Iran’s state news agency that Iranian forces had shot down a foreign country’s drone.
“Alleged reports of a U.S. drone being shot down are incorrect. If a UAS had gone down in the CENTCOM AOR it was not a #DoD asset. All U.S. equipment has been accounted for,” U.S. Central Command said in a post on Twitter.