Xcel Energy Inc Q4 Earnings Climb

Stock Alert: General Electric Co. (GE) Shares Soar 10% On Earnings

Shares of General Electric Co. (GE) touched a 52-week high of $13.00 on January 29, and closed Wednesday’s trading session at $12.94, up $1.21 or 10.32%. Trading volume surged to 219 million versus an average volume of 60 million shares.

Q4 Results

The company’s Q4 net income from continuing operations was $663 million or $0.08 per share compared to $509 million or $0.06 per share in the prior year period.

Adjusted net income was $1.85 billion or $0.21 per share, higher than the previous year’s income of $1.23 billion or $0.14 per share.

Analysts polled by Thomson Reuters expected earnings of $0.18 per share for the quarter. Analysts’ estimate typically exclude certain special items.

Total revenues declined to $26.2 billion from $26.5 billion generated a year ago.

GE Chairman and CEO Lawrence Culp, Jr. said, “The fourth quarter marked a strong close to the year for GE. We met or exceeded our full-year financial targets and are on a positive trajectory for 2020. We’re proud of our progress in 2019, including decisive actions to reduce our leverage and strengthen our businesses.”

FY 2020 Guidance

For fiscal year 2020, the company projects adjusted earnings per share in the range of $0.50 – $0.60. Analysts expect annual earnings of $0.66 per share, and GE Industrial revenues to grow organically in the low-single-digit range.

Rank Group H1 Profit Surges

UK’s casino operator The Rank Group Plc (RNK.L) Thursday reported a surge in profit for the half year, with a double digit growth in gaming revenue.

For the half year, profit before tax rose more than two fold to 49.3 million pounds from 22.8 million pounds, while underlying profit before tax grew to 52.9 million pounds from 30.5 million pounds last year.

On a per share basis, basic earnings surged to 10.2 pence from 4.8 pence, while underlying earnings rose to 11.0 pence from 6.4 pence last year.

Operating profit for the first half rose 117 percent to 56.1 million, and underlying operating profit grew 87 percent to 59.8 million pounds.

Reported net gaming revenue increased by 14 percent to 397.4 million pounds, while underlying net gaming revenue grew 10 percent to 377.5 million pounds.

Looking ahead to the full year, the gaming company expects underlying operating profit in the range of 113 million – 123 million pounds, including the impact of IFRS 16.

Northern heads for public ownership

The struggling train operator Northern will be put into public ownership from 1 March. We look at how the firm got into this position and what effect it has had on passengers.

Also, British citizens who come back from the Chinese city at the centre of the coronavirus outbreak are to be quarantined for two weeks.

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China CDS rise 2 bps on virus spread -IHS Markit

LONDON, Jan 30 (Reuters) – The cost of insuring exposure to China’s sovereign debt crept up again on Thursday as fears of a virus spreading from the country roiled global markets.

China’s 5-year credit default swaps rose 2 basis points (bps) from Wednesday’s close to 41 bps, matching a 3-1/2 month high hit earlier this week, data from IHS Markit showed.

The number of confirmed deaths from the virus in China has climbed to 170 with 7,711 people infected, and more cases are being reported around the world. (Reporting by Karin Strohecker; Editing by Tom Arnold)

Russia to pause electronic visas to Chinese nationals: foreign ministry

MOSCOW (Reuters) – Russia will temporarily stop issuing electronic visas to Chinese nationals from Thursday in response to the outbreak of the coronavirus, the foreign ministry said.

On Wednesday, Russia said it would limit its railway links with China from Jan. 31, leaving only direct trains between Moscow and Beijing.

Turkish lira 'competitive' at current level -cenbank chief

ANKARA, Jan 30 (Reuters) – The Turkish lira’s real exchange rate is competitive at the moment, Central Bank Governor Murat Uysal said on Thursday, adding that the “dollarization” trend of Turks turning to more stable foreign currencies will continue to fade.

The lira stood at 5.9845 against the U.S. dollar at 08:43 GMT, down 0.4% from the day before.

The central bank does not have a lira exchange rate target, Uysal said at a press conference in Ankara, adding that he expects the relatively stable trend in foreign currency prices to continue.

Murphy Oil Q4 adjusted earnings of $0.16 per share

Below are the earnings highlights for Murphy Oil (MUR):

-Earnings: -$71.72 million in Q4 vs. $103.38 million in the same period last year.
-EPS: -$0.46 in Q4 vs. $0.59 in the same period last year.
-Excluding items, Murphy Oil reported adjusted earnings of $24.6 million or $0.16 per share for the period.
-Revenue: $637.48 million in Q4 vs. $503.64 million in the same period last year.

Danaher reports earnings ahead of consensus but 2020 outlook far shy of estimates

Danaher DHR, +0.89%, the Washington, D.C.-based life sciences and diagnostics conglomerate, said fourth-quarter net income climbed to $1.26 billion, or $1.73 a share, from $746.8 million, or $1.05 a share. Its adjusted EPS rose 12.5% to $1.28 a share, with revenue up 5.5% to $4.9 billion. Analysts polled by FactSet expected earnings of $1.25 a share on revenue of $4.79 billion. Danaher forecast 2020 adjusted EPS between $4.80 and $4.90 with core revenue up about 5%. Analysts expected 2020 adjusted EPS of $5.34.

Xcel Energy Inc Q4 Earnings Climb

Xcel Energy Inc (XEL) released a profit for its fourth quarter that climbed from the same period last year.

The company’s bottom line came in at $292 million, or $0.56 per share. This compares with $215 million, or $0.42 per share, in last year’s fourth quarter.

Analysts 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 fell 2.8% to $2.80 billion from $2.88 billion last year.

Xcel Energy Inc earnings at a glance:

-Earnings (Q4): $292 Mln. vs. $215 Mln. last year.
-EPS (Q4): $0.56 vs. $0.42 last year.
-Analysts Estimate: $0.53
-Revenue (Q4): $2.80 Bln vs. $2.88 Bln last year.