Stock Alert: KE Holdings Down 3%
Shares of Chinese online property firm KE Holdings Inc. (BEKE) are trading down 3 percent on Tuesday on news that China’s antitrust watchdog has launched an investigation into the company.
According to reports, the State Administration for Market Regulation has opened a probe into whether KE Holdings forced developers to list housing information solely on its platforms like Lianjia and Beike.
The stock is currently trading at $49.84, down $2.16 or 3% on the NYSE.
BEKE has traded between $31.79 and $79.40 during the past 52 weeks.
Pablo Sandoval has three hits in return to Boston as Braves top Red Sox
RBI balance sheet grew 7% in 9 months to March
Income dipped 11%, expenditure 63%
The size of the Reserve Bank’s balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management, has increased by 6.99% to ₹57,07,669.13 crore during the nine-month period ended March 31.
“The increase on the asset side was mainly due to increase in foreign and domestic investments by 11.48% and 13.75%, respectively,” it said in the Annual Report for FY21.
On liabilities, the increase was due to growth in deposits, notes issued and other liabilities.
While income for the year decreased 10.96%, expenditure declined 63.1%,
The year ended with an overall surplus of ₹99,122 crore compared with ₹57,127.53 crore in the previous year, representing an increase of 73.5%, it added.
Shift to April-March year
On account of the transition to April-March accounting year from July-June accounting period, the reserve bank has come out with data for nine months for 2020-21 as compared to twelve months for the previous year.
Earlier this month, the Central Board of Directors of RBI had approved the transfer of the ₹99,122 crore surplus to the Centre.
Intuit Inc. Q3 adjusted earnings Miss Estimates
Intuit Inc. (INTU) revealed earnings for its third quarter that advanced from the same period last year.
The company’s bottom line totaled $1.46 billion, or $5.30 per share. This compares with $1.08 billion, or $4.11 per share, in last year’s third quarter.
Excluding items, Intuit Inc. reported adjusted earnings of $1.68 billion or $6.07 per share for the period.
Analysts had expected the company to earn $6.47 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 39.0% to $4.17 billion from $3.00 billion last year.
Intuit Inc. earnings at a glance:
-Earnings (Q3): $1.68 Bln. vs. $1.18 Bln. last year.
-EPS (Q3): $6.07 vs. $4.49 last year.
-Analysts Estimate: $6.47
-Revenue (Q3): $4.17 Bln vs. $3.00 Bln last year.
Next quarter EPS guidance: $1.55 to $1.60.
Next quarter revenue guidance: $2.29 – $2.33 Bln
Full year EPS guidance: $9.32 – $9.37
Full year revenue guidance: $9.362 – $9.400 Bln
Watch live: Treasury Secretary Yellen testifies before Congress on the economic recovery
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Treasury Secretary Janet Yellen is scheduled to appear before lawmakers on Thursday to offer an update on the economic recovery and detail her department's efforts to help workers and households after the Covid-19 pandemic.
Formerly the chair of the Federal Reserve, Yellen is one of President Joe Biden's chief economic advisors and a key player in orchestrating hundreds of billions of dollars of coronavirus relief aid appropriated by Congress over the past several months.
Her testimony before the U.S. House Subcommittee on Financial Services and House General Government Committee on Appropriations included praise for Biden's $1.9 trillion American Rescue Plan.
She'll also likely offer support for legislation currently under consideration including the infrastructure-based American Jobs Plan and the worker-and-household bill known as the American Families Plan.
Yellen raised eyebrows on Wednesday for failing to appear before the House Small Business Committee, as required by law.
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Oil Futures Settle Slightly Higher
Crude oil futures settled marginally up on Tuesday with traders closely following the ongoing negotiations with regard to Iran nuclear deal.
Traders looked to be weighing the likely impact a prospective deal that could result in the U.S. lifting sanctions on Iran might make on global crude supply.
West Texas Intermediate Crude oil futures for July edged up $0.02 to settle at $66.07 a barrel.
Brent crude futures were down $0.10 or 0.15% at 68.27 a barrel a little while ago.
Iran and the U.N. nuclear watchdog said on Monday that they are extending a recently expired monitoring agreement by a month, giving negotiators in Vienna time to revive the nuclear deal from which the U.S. withdrew in 2018.
Talks between Iran and world powers will continue in Vienna this week to resolve outstanding issues on a nuclear accord.
Iranian President Hassan Rouhani said Monday the U.S. has no other option than to lift all sanctions on Iran, which were imposed under former U.S. President Donald Trump.
What’s Making News At Nabriva Therapeutics?
Nabriva Therapeutics plc (NBRV) and its China-based partner Sinovant Sciences have reported positive topline results from a phase III bridging study of Lefamulin in Chinese adults with community acquired bacterial pneumonia.
In the study, conducted by Sinovant Sciences, Lefamulin was shown to be non-inferior to *Moxifloxacin, with 76.8% of Lefamulin-treated patients meeting the efficacy endpoint of Investigator Assessment of Clinical Response (IACR) at Test of Cure (TOC) compared to 71.4% of patients treated with Moxifloxacin.
*Moxifloxacin is often used in the empirical treatment of severe community-acquired pneumonia.
Lefamulin is approved under brand name Xenleta in the U.S. Canada, and the European Union.
Sinovant Sciences looks forward to seeking approval of Lefamulin in China as soon as possible.
As of March 31, 2021, Nabriva had $54.8 million in cash and cash equivalents.
NBRV has traded in a range of $1.31 to $12.00 in the last 1 year. The stock closed Tuesday’s trading at $1.48, down 0.67%. In pre-market trading today, the stock is up 64% at $2.43.