Enterprise Products Partners LP Q4 Profit misses estimates
Enterprise Products Partners LP (EPD) reported a profit for fourth quarter that missed the Street estimates.
The company’s earnings totaled $1.03 billion, or $0.47 per share. This compares with $0.34 billion, or $015 per share, in last year’s fourth quarter.
Analysts on average had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 61.5% to $11.37 billion from $7.04 billion last year.
Enterprise Products Partners LP earnings at a glance (GAAP) :
-Earnings (Q4): $1.03 Bln. vs. $0.34 Bln. last year.
-EPS (Q4): $0.47 vs. $015 last year.
-Analyst Estimates: $0.53
-Revenue (Q4): $11.37 Bln vs. $7.04 Bln last year.
Rupee slips 8 paise to 74.91 against U.S. dollar in early trade
The rupee on February 2 had settled at 74.83 against the American currency
The rupee declined 8 paise to 74.91 against the U.S. dollar in opening trade on February 3 weighed down by the strength of the American currency and muted domestic equities.
Forex traders said elevated crude oil prices also dragged down the local unit.
At the interbank foreign exchange, the rupee opened at 74.84 against the U.S. dollar, then slipped further to 74.91, registering a decline of 8 paise over the last close.
The rupee on February 2 had settled at 74.83 against the American currency.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.10% to 96.03.
Meanwhile, global oil benchmark Brent crude futures fell by 0.25% to $89.25 per barrel.
On the domestic equity market front, the 30-share Sensex was trading more than 278.94 points or 0.47% lower at 59,279.39, while the broader NSE Nifty declined by 77.30 points, or 0.43%, to 17,702.70.
Foreign institutional investors remained net sellers in the capital market on Wednesday, as they offloaded shares worth ₹183.60 crore, as per stock exchange data.
European Economics Preview: Eurozone Flash Inflation Data Due
Flash consumer prices from euro area and unemployment from Spain are due on Wednesday, headlining a light day for the European economic news.
At 3.00 am ET, Spain unemployment data is due for January. The number of jobless claims is expected to fall 50,700 in January compared to a decrease of 76,800 in the previous month.
In the meantime, the Hungarian Central Statistical Office releases foreign trade data for November.
At 4.00 am ET, Italy’s Istat releases flash consumer and harmonized consumer price data for January. Consumer price inflation is forecast to slow to 3.8 percent from 3.9 percent in December.
At 5.00 am ET, Eurostat is slated to issue eurozone flash inflation data for January. Economists expect inflation to slow to 4.4 percent from 5.0 percent in December.
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Ralph Lauren Again Boosts FY22 Revenue Growth Outlook – Quick Facts
While reporting its financial results for the third quarter on Thursday, luxury fashion house Ralph Lauren Corp. (RL) said it expects revenues to increase approximately 17 to 18 percent in constant currency for the fourth quarter.
The company also raised its revenue growth guidance for the full year 2022 to approximately 39 to 41 percent in constant currency from the prior forecast of 34 to 36 percent in constant currency.
On average, analysts polled by Thomson Reuters expect the net sales growth of 9.7 percent to $1.41 billion for the quarter and net sales growth of 34.9 percent to $5.94 billion for the year.
Silvergate Capital Stock Rises On Deal To Buy Blockchain Payment Assets From Diem Group
Shares of Silvergate Capital Corporation (SI) gained nearly 3% on Tuesday morning after the company announced the deal to buy blockchain payment network assets from Facebook’s Diem Group.
SI is currently trading at $110.50, up $2.76 or 2.56%, on the NYSE.
Silvergate Capital announced that it has acquired intellectual property and other technology assets related to running a blockchain-based payment network from the Diem Group.
The assets acquired by Silvergate include development, deployment and operations infrastructure and tools for running a blockchain-based payment network designed to facilitate payments for commerce and cross-border remittances.
Opinion | More Thoughts on America’s Feel-Bad Boom
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Verano Down 3% Following Proposed Buyout Of Goodness Growth Holdings
Shares of cannabis products maker Verano Holdings Corp. (VRNOF, VRNO) are down 3 percent following news that the company has agreed to acquire pharmaceutical company Goodness Growth Holdings, Inc. (GDNS, GDNSF) in an all-share transaction for approximately $413 million.
Following the acquisition, Verano hopes to expand its markets by adding New York and New Mexico markets ahead of both states’ transition to adult-use and increasing its operational footprint in Arizona and Maryland.
Currently at $10.25, the stock has traded between $9.86 and $28.00 during the past 52 weeks.