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Divestment nets Centre ₹32,835 cr., betters revised estimates

Lockdown easing in Wales with cross-border travel and pubs set to return


Delta and Coca-Cola Reverse Course, Stating ‘Crystal Clear’ Opposition to Georgia’s Voting Law


By David Gelles

European Economics Preview: Swiss Central Bank Rate Decision Due

The monetary policy announcement from the Swiss National Bank is due on Thursday, headlining a busy day for the European economic news.

At 3.00 am ET, the market research group Gfk is set to release consumer confidence survey results. The consumer sentiment index is seen at -11.9 in April versus -12.9 in March.

At 3.45 am ET, the French statistical office Insee publishes business sentiment survey results. The business confidence index is expected to rise marginally to 98 in March from 97 in February.

At 4.00 am ET, Spain’s INE releases producer prices data.

At 4.30 am ET, the Swiss central bank announces its monetary policy decision. The central bank is expected to retain the policy rate and interest on sight deposits at the SNB at -0.75 percent.

In the meantime, Statistics Sweden publishes producer prices for February.

At 5.00 am ET, the European Central Bank is set to publish economic bulletin.

At 6.00 am ET, the ECB is scheduled to issue money supply data for February. Eurozone M3 is forecast to grow 12.5 percent annually, the same rate as seen in January.

At 7.00 am ET, the Confederation of British Industry releases Distributive Trades survey data for March. The retail sales balance is seen at -37 percent versus -45 percent in February.

Guess? Inc. Q4 adjusted earnings Beat Estimates

Guess? Inc. (GES) announced earnings for fourth quarter that fell from the same period last year.

The company’s bottom line came in at $70.42 million, or $1.07 per share. This compares with $79.60 million, or $1.18 per share, in last year’s fourth quarter.

Excluding items, Guess? Inc. reported adjusted earnings of $77.67 million or $1.18 per share for the period.

Analysts had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 23.0% to $648.46 million from $842.25 million last year.

Guess? Inc. earnings at a glance:

-Earnings (Q4): $77.67 Mln. vs. $82.34 Mln. last year.
-EPS (Q4): $1.18 vs. $1.22 last year.
-Analysts Estimate: $0.56
-Revenue (Q4): $648.46 Mln vs. $842.25 Mln last year.

Five Nationals players will miss opening day after a COVID-19 positive

Despite a relatively healthy six weeks of spring training and a far smoother ride in testing for and tracing cases of COVID-19, the 2021 Major League Baseball season will begin as the last one did – with a Washington Nationals player sidelined by a positive test for their nationally televised opener.

Nationals general manager Mike Rizzo announced Wednesday that a player tested positive and will miss Thursday’s opener, as will four other players who must quarantine after they were identified as close contacts with the player.

Additionally, a staff member was also in the close contact group.

The positive tests comes after a spring in which just 33 players tested positive through both intake and monitoring testing; two players and two staff members among MLB’s 30 teams tested positive in the most recent report issued by MLB.

Micron Technology Q2 adjusted earnings Beat Estimates

Micron Technology (MU) reported a profit for its second quarter that increased from last year.

The company’s profit came in at $603 million, or $0.53 per share. This compares with $405 million, or $0.36 per share, in last year’s second quarter.

Excluding items, Micron Technology reported adjusted earnings of $1.13 billion or $0.98 per share for the period.

Analysts had expected the company to earn $0.95 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 30.0% to $6.24 billion from $4.80 billion last year.

Micron Technology earnings at a glance:

-Earnings (Q2): $1.13 Bln. vs. $0.52 Bln. last year.
-EPS (Q2): $0.98 vs. $0.45 last year.
-Analysts Estimate: $0.95
-Revenue (Q2): $6.24 Bln vs. $4.80 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.55 – $1.69
Next quarter revenue guidance: $6.9 – $7.3 Bln

Divestment nets Centre ₹32,835 cr., betters revised estimates

Govt. originally budgeted ₹2.10 lakh cr.

The government has mopped up ₹32,835 crore from CPSE share sale and buybacks, thus exceeding the disinvestment target set in the revised estimates (RE) for the current fiscal.

The realisation is, however, lower than the record ₹2.10 lakh crore originally budgeted.

In the RE, the target was scaled down to ₹32,000 crore as COVID-19 delayed planned big-ticket disinvestment.

In a tweet, Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said the total DIPAM receipts in 2020-21 stand at ₹71,857 crore, which include disinvestment receipts of ₹32,835 crore and dividend receipts of ₹39,022 crore.

“Total dividend receipts from CPSEs in FY2020-21 have touched ₹39,022 crore, which exceeds the revised estimate (RE) of ₹34,717 crore, and is more than actual dividend receipts (₹35,543 crore) during the previous financial year,” Mr. Pandey tweeted.

For 2021-22 fiscal, the Union government has set a disinvestment target of ₹1.75 lakh crore.