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BASF Group Preliminary Q2 Sales Up 55.8%; Lifts FY Outlook

Greene, Boebert Slammed As ‘Carnival Barkers’ By PAC That Seeks To Elect GOP Women

Conspiracy theory-endorsing and frequent outrage-generating GOP Reps. Marjorie Taylor Greene (Ga.) and Lauren Boebert (Colo.) shouldn’t expect an endorsement from one major PAC that seeks to elect Republican women.

Julie Conway, executive director of the Value In Electing Women group, dismissed both lawmakers as “carnival barkers” in an interview with Insider.

Greene and Boebert were the only Republican women in Congress not being supported by the group, Conway said, and they won’t receive its backing during the 2022 midterms.

“While we rightfully celebrate the number of GOP women serving in the House, I’ve always professed quality over quantity,” said Conway, whose committee says it has raised more than $20 million for female Republican candidates since its inception in 1997.

“The work of Congress is not a joke or reality show,” she added.

Conway said Republican women have “fought too hard for too long to be respected and taken seriously as legislators, policymakers and thought leaders.”

“We cannot let this work be erased by individuals who chose to be shameless self-promoters and carnival barkers,” she added. “I think that they would rather draw attention to themselves, and really Marjorie Taylor Greene more than Boebert, but they’re cut from the same cloth.”

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CANADA STOCKS-TSX opens higher on energy boost, upbeat job data

July 9 (Reuters) – Canada’s main stock index opened higher on Friday, as energy stocks tracked stronger crude prices, while government data showed the nation added more jobs than expected in June.

* At 9:30 a.m. ET (13:30 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 75.19 points, or 0.37%, at 20,136.4.

Canyon Furniture Recalls Creekside Children’s Chests Of Drawers

Seffner, Florida-based Canyon Furniture is recalling Creekside Children’s Chests of Drawers sold exclusively at Rooms To Go citing tip-over and entrapment risks for children.

The U.S. Consumer Product Safety Commission stated that the recall involves about 1,200 units of Creekside Kids Five-Drawer Chests. They were sold in charcoal and chestnut colors.

The Creekside Chests measure about 43.5 inches tall, 31.5 inches wide and18 inches deep. The recalled chests were manufactured in Mexico between April 2020 and March 2021.

It holds “Canyon Furniture Co,” and SKU number 34595035 for charcoal or 34495045 for chestnut.

The affected products were sold at Rooms To Go stores nationwide and online at www.roomstogo.com from April 2020 through March 2021 for about $430.

According to the agency, the recalled chests are unstable if they are not anchored to the wall. This could result in tip-over and entrapment hazards, causing death or serious injuries to children.

The chests do not comply with the performance requirements of the voluntary industry standard ASTM F2057-19.

However, the company did not receive any reports of injuries related to the recalled products.

Consumers are urged to contact Rooms To Go for a free repair, replacement, or a full refund.

In recent recalls, TJX in early May called back about 82,500 units of outdoor wooden folding chairs due to fall and injury risks.

Volkswagen Group Sees H1 Operating Profit Of About EUR 11 Bln – Quick Facts

Volkswagen Group expects operating profit of about 11 billion euros, and automotive net cash flow of about 10 billion euros for the first half 2021.

The company noted that deliveries to customers continued to recover strongly in the first half of the current year, leading to a very strong Group turnover as well as a very high operating profit. The bottleneck in semiconductors has shifted and will rather impact the company in the second-half of year.

The company will publish its financial results for the first half 2021 on July 29, 2021.

U.S. Factory Orders Jump More Than Expected In May

New orders for U.S. manufactured goods showed a significant increase in the month of May, according to a report released by the Commerce Department on Friday.

The Commerce Department said factory orders surged up by 1.7 percent in May after edging down by a revised 0.1 percent in April.

Economists had expected factory orders to jump by 1.5 percent compared to the 0.6 percent drop originally reported for the previous month.

The notable increase in factory orders came as orders for durable goods shot up by 2.3 percent, while orders for non-durable goods climbed by 1.0 percent.

The report also showed shipments of manufactured goods advanced by 0.7 percent in May after edging up by 0.2 percent in April.

Inventories of manufactured goods also increased by 0.9 percent in May after rising by 0.5 percent in the previous month.

With inventories and shipments both climbing, the inventories-to-shipments ratio for May was unchanged from April at 1.49.

BASF Group Preliminary Q2 Sales Up 55.8%; Lifts FY Outlook

BASF Group reported that its preliminary sales for the second quarter of 2021 increased by 55.8 percent to 19.75 billion euros from last year, driven by higher prices and volumes; negative currency effects had an offsetting effect. The average analyst estimates for BASF Group’s sales in the second quarter of 2021 amount to 17.16 billion euros.

The company expects group EBIT to be 2.32 billion euros in the second quarter of 2021, considerably above the figure for the prior-year quarter of 59 million euros, which was weak due to the pandemic. The analyst consensus for EBIT in the second quarter of 2021 is 1.93 billion euros.

EBIT in the second quarter of 2021 includes a preliminary disposal gain of a mid-double-digit million-euro amount from the sale of the pigments business.

The company raised its 2021 outlook, due to the considerably increased earnings expectations in the Chemicals and Materials segments.

For the full year 2021, BASF Group now expects sales to be in the range of 74 billion euros to 77 billion euros compared to the previous outlook of 68 billion euros to 71 billion euros.

The company raised its annual EBIT before special items outlook to a range of 7.0 billion euros – 7.5 billion euros from the previous outlook of 5.0 billion euros – 5.8 billion euros.