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Ofgem price cap rises to £3,549 – Ofgem CEO warns of ‘massive impact’ on energy bills

Dell Technologies Q2 Profit Down As Revenue Growth Slows Down; Shares Slip 7%

Dell Technologies Inc. (DELL) Thursday reported a drop in profit for the second quarter, as revenues growth slowed down from prior quarters. The shares slipped 7% in extended trading.

Round Rock, Texas-based Dell’s second-quarter profit from continuing operations dropped to $506 million or $0.68 per share from $629 million or $0.80 per share last year.

Adjusted earnings were $1.27 billion or $1.68 per share for the period, up from $1.17 billion or $1.48 per share last year. Analysts polled by Thomson Reuters estimated earnings of $1.64 per share. Analysts’ estimates typically exclude special items.

Revenue for the quarter grew 9% to $26.43 billion from $24.19 billion last year. Analysts had a consensus revenue estimate of $26.49 billion.

Client Solutions Group revenues grew to 9 % to $15.5 billion, while Infrastructure Solutions Group revenue rose 12% to $9.5 billion.

DELL closed Thursday’s trading at $47.90, up $1.28 or 2.75%, on the Nasdaq. The stock, however, slipped $3.50 or 7.31%, in the after-hours trading.

VMware Inc. Profit Retreats In Q2

VMware Inc. (VMW) revealed earnings for second quarter that decreased from the same period last year

The company’s bottom line came in at $347 million, or $0.82 per share. This compares with $411 million, or $0.97 per share, in last year’s second quarter.

Excluding items, VMware Inc. reported adjusted earnings of $697 million or $1.64 per share for the period.

The company’s revenue for the quarter rose 6.4% to $3.34 billion from $3.14 billion last year.

VMware Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $347 Mln. vs. $411 Mln. last year.
-EPS (Q2): $0.82 vs. $0.97 last year.
-Revenue (Q2): $3.34 Bln vs. $3.14 Bln last year.

European Economics Preview: UK Retail Sales, Public Sector Finance Data Due

Retail sales and public sector finances from the UK are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales and public sector finance data. Sales are forecast to fall 0.2 percent on month, slightly faster than the 0.1 percent drop in June. The budget deficit is seen at GBP 25.3 billion in July versus GBP 22.1 billion in June.

In the meantime, Destatis is scheduled to issue Germany’s producer prices for July. Economists expect producer price inflation to ease to 32.0 percent from 32.7 percent in June.

At 4.00 am ET, the European Central Bank is scheduled to issue euro area current account figures for June.

Also, industrial production, producer prices and wage growth figures are due from Poland. Industrial output is seen rising 7.4 percent annually, following June’s 10.4 percent increase. Producer price inflation is expected to ease to 25.3 percent in July from 25.6 percent in June.

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Colorado high school football scoreboard: Week 1

Friday night scores 

Air Academy 46, Liberty 8

Arickaree 54, Bethune 0

Bear Creek 42, Lakewood 0

Conifer 13, Fort Morgan 10

Douglas County 23, Horizon 20

Dundy County-Stratton 54, Sedgwick County 14

Pomona 45, Thomas Jefferson 13

Rampart 45, Coronado 0

Sebastian River 14. Golden 6

Wheat Ridge 21, Fort Lupton 20

Ofgem price cap rises to £3,549 – Ofgem CEO warns of ‘massive impact’ on energy bills

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Households on the price cap can expect to pay £3,549 per year, based on typical use.