Life

Eric Trump Gets Taken To School Over Economic Growth Boast

Chunghwa Telecom Q3 Results Rise; Says Confident Of Sustainable Long-term Growth

Taiwanese telecom services company Chunghwa Telecom Co., Ltd. (CHT) reported Friday that its third-quarter net income attributable to stockholders of the parent increased 3.2 percent from last year to NT$ 8.35 billion. Basic earnings per share were NT$1.08.

EBITDA increased 6.8 percent to NT$ 20.09 billion, and EBITDA margin improved to 38.51 percent from 36.99 percent in the same period of 2019.

Total revenue grew 2.6 percent from last year to NT$ 52.17 billion, with 1.2 percent rise in Internet revenues, despite 8.5 percent drop in mobile communications revenue.

With the launch of the iPhone 12 in October, the company said it is optimistic to exceed annual target for 5G service adoption by the year end.

Looking ahead, Chi-Mau Shieh, Chairman and CEO of Chunghwa Telecom, said, “Backed by our clear, strategic focus, strict cost saving measures and strong balance sheet, we remain confident in our ability to achieve healthy and sustainable long-term growth while delivering sustainable value to our shareholders.”

Under Armour shares jump after its footwear sales help drive earnings beat

Under Armour on Friday reported revenue about flat with a year earlier, with earnings topping estimates, as consumers stocked up on the brand's sneakers and workout gear.

Chief Executive Officer Patrik Frisk cited higher demand for the athletic apparel maker's products during the coronavirus pandemic, especially in North America.

Under Armour shares jumped more than 7% in premarket trading.

Here's how the company did during its fiscal third quarter, compared with what analysts were expecting, based on Refinitiv data:

  • Earnings per share: 26 cents, adjusted, vs. 3 cents, expected
  • Revenue: $1.43 billion vs. $1.16 billion, expected

Under Armour earnings as of Thursday's market close are down about 36% this year. The company has a market cap of $6.3 billion.

Find the full earnings press release here.

This story is developing. Please check back for updates.

ITT Corporation Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for ITT Corporation (ITT):

-Earnings: -$46.8 million in Q3 vs. $118.6 million in the same period last year.
-EPS: -$0.54 in Q3 vs. $1.35 in the same period last year.
-Excluding items, ITT Corporation reported adjusted earnings of $119.5 million or $1.37 per share for the period.
-Analysts projected $0.71 per share
-Revenue: $591.2 million in Q3 vs. $711.9 million in the same period last year.

L3Harris Technologies Boosts FY20 Earnings Outlook – Quick Facts

While reporting financial results for the third quarter on Friday, aerospace and defense technology firm L3Harris Technologies, Inc. (LHX) raised its earnings and adjusted earnings guidance for the full-year 2020, while maintaining annual revenue outlook at the mid-point of the previous guidance range.

For fiscal 2020, the company now projects earnings of about $6.44 per share and adjusted earnings of about $11.55 per share on revenues of about $18.4 billion.

Previously, the company expected earnings in the range of $6.03 to $6.43 per share and adjusted earnings in the range of $11.15 to $11.55 per share on revenues between $18.2 billion and $18.6 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.43 per share on sales of $18.47 billion for the year. Analysts’ estimates typically exclude special items.

Chevron Corp. Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Chevron Corp. (CVX):

-Earnings: -$0.21 billion in Q3 vs. $2.58 billion in the same period last year.
-EPS: -$0.12 in Q3 vs. $1.36 in the same period last year.
-Excluding items, Chevron Corp. reported adjusted earnings of $0.20 billion or $0.11 per share for the period.
-Analysts projected -$0.27 per share
-Revenue: $24.45 billion in Q3 vs. $36.12 billion in the same period last year.

Sensex ends 136 points lower; Nifty slips below 11,650

Bharti Airtel was the top loser in the Sensex pack.

Equity benchmark Sensex declined 136 points on Friday following losses in Infosys, ICICI Bank and Bharti Airtel amid a selloff in global markets.

After gyrating 746 points during the day, the 30-share BSE index ended 135.78 points or 0.34% lower at 39,614.07.

Similarly, the broader NSE Nifty slipped 28.40 points or 0.24% to 11,642.40.

Bharti Airtel was the top loser in the Sensex pack, shedding around 4 per cent, followed by Maruti, Bajaj Finance, HUL, ICICI Bank and Kotak Bank.

On the other hand, Tata Steel, NTPC, Sun Pharma, Nestle India, Reliance Industries and TCS were among the gainers.

Market was highly volatile during the day, said S Ranganathan, Head of Research at LKP Securities, adding that auto stocks witnessed profit booking.

However, a late comeback by RIL ahead of its earnings helped indices gain some lost ground in afternoon trade, he said.

According to experts, market mood has been wary this week on a steady increase in COVID-19 caseload globally despite falling cases in India and uncertainty around the upcoming US elections.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended the day in significant losses.

Stock exchanges in Europe were also largely trading on a negative note.

Meanwhile, international oil benchmark Brent crude was trading 0.58 per cent higher at USD 38.48 per barrel.

Eric Trump Gets Taken To School Over Economic Growth Boast

Eric Trump earned derision on Twitter Thursday for an out of context boast about the growth of the U.S. economy.

President Donald Trump’s son bragged about the 33.1% annual rate rise in the  third quarter with this post:

Twitter users filled in the gaps.

Critics highlighted how the recovery from the economic crash caused by the coronavirus pandemic is far from complete — with the unemployment rate still at 7.9% ― and noted that the economy now appears to be weakening again as a third wave of the crisis sweeps across the country.

RELATED…

  • Here’s the latest science on COVID antibodies. 
  • How does the coronavirus spread differently than the flu?
  • What does the new CDC definition of a COVID-19 “close contact” mean for you?
  • Is it safe to see grandparents for the holidays? 
  • Therapists predict how this year will shape our mental health.