UPS POSTS 3Q GAINS, SEES 11% JUMP IN DECEMBER SHIPMENTS
UPS's revenue rose 5.7% to $14.29 billion in the latest quarter,
helped by higher daily package volumes and strength overseas. It
posted a profit of $1.21 billion, or $1.32 a share. Results beat
expectations, and shares rose 1% premarket.
FORD PROFIT FALLS AS PRODUCTION SLIPS IN N. AMERICA
Ford's 3Q net income fell to $835 million from $1.27 billion a
year ago as lower production, and warranty and recall costs led to
lower profits in North America, and losses in Europe hurt results.
Ford's results were a bit better than analysts expected.
P&G TO EXIT DURACELL BATTERY OPERATIONS
Procter & Gamble reported fiscal 1Q profit of $1.99 billion
as sales edged down to $20.79 billion. The company also said its
plans to exit its Duracell battery business and will likely split
the operation off into a separate company.
SHIRE RAISES EARNINGS GUIDANCE AFTER RECORD SALES GROWTH
Shire raised its earnings guidance again after delivering record
sales growth, demonstrating the attractive prospects of the
Dublin-based drug maker after AbbVie pulled out of a $54 billion
takeover of the company last week.
BRISTOL-MYERS SALES, PROFIT BEAT ESTIMATES
Bristol-Myers Squibb's 3Q profit rose to $721 million. Revenue
decreased 4% to $3.92 billion, but the fall was less than expected
by analysts. The company also affirmed its earnings outlook for the
year.
MOODY'S REVENUE RISES 16%
Moody's said its revenue jumped 16% to $816.1 million in the
latest quarter, driven by strong gains in debt-rating and
analytics. Results sharply outpaced analysts' expectations. It
posted earnings of $215.2 million, or $1 a share.
NASDAQ PROFIT CLIMBS 8.9%
Nasdaq said its earnings rose 8.9% to $123 million, or 71c a
share, as the firm's focus on expense control helped offset the
effect of foreign exchange pressures. Profit beat analysts'
expectations.
CHIQUITA TO VOTE ON FYFFES DEAL FRIDAY
Chiquita Brands International Inc. said it plans to continue
with its scheduled shareholder meeting Friday to vote on its deal
with Irish food company Fyffes PLC, despite a raised offer from
Cutrale-Safra.
ERICSSON'S REVENUES BEAT VIEWS
Ericsson's revenue grew more than expected in the third quarter,
but uncertainty about North American operators' mobile network
spending threw a wet blanket over the Swedish company's
earnings.
BASF LOWERS 2015 FORECAST
Germany's BASF lowered its outlook for 2015 and reported a 4.8%
decline in third-quarter profit, hurt by the slowing global economy
and weaker demand in Europe.
COLGATE-PALMOLIVE EARNINGS FALL AS FOREIGN EXCHANGE WEIGHS
Colgate-Palmolive said its 3Q earnings fell 17% to $542 million,
warning that deteriorating foreign exchange rates are weighing on
its results. Net sales edged down 0.5% to $4.38 billion.
GERMAN AUTO SUPPLIER HELLA EYES $5B IPO
Hella KGaA Hueck & Co is preparing to list its shares on the
Frankfurt Stock Exchange later this year in an initial public
offering that could value the family-run company at EUR4 billion
($5.06 billion).
SWISS RAID BANK OFFICES IN GERMAN TAX PROBE
Swiss authorities raided the offices of Bank J. Safra Sarasin AG
in connection with a German tax probe, an official from the Zurich
Public Prosecutor's Office said.
BANKIA BOOSTED BY LOWER BAD LOAN PROVISIONS
Bankia said 3Q net profit rose compared to a year earlier as
Spain's largest nationalized bank reported lower costs and fewer
provisions to cover soured loans.
PENSION FIRMS ACCUSE EIOPA OF OVER-REACHING AUTHORITY
Europe's pensions industry has accused its European Union
regulator of overreaching its authority by pursuing plans to
develop what amounts to a new and onerous capital regime that could
hurt their investing decisions.
VOLVO TO CUT COSTS AS NET PROFIT RISES
Swedish commercial vehicle maker Volvo said it will cut costs
further while it reported an increase in third-quarter net profit
as good momentum in North America and Japan offset slow development
in emerging markets.