Rhino International Corp, the China-based environmental protection equipment maker, posted strong results yesterday, sending its shares up by as much as 19.78% during trading yesterday. Revenues climbed 41% to US$63.3M, while Earnings Per Share (EPS) for the quarter rose to US$0.68, compared with US$0.39 a year earlier. Excluding items, EPS stood at US$0.87, above analysts’ [...]
US Steel Corp is still unable to find its footing, even as economies across the globe have begun to recover from the recession. The company posted its third consecutive quarterly loss for the period ended September 30, 2009. Net loss stood at US$303M or US$2.11 per share for Q03 2009, down from a profit of [...]
Although yesyerday was a good day for oil companies overall, BP PLC outperformed rivals after cost-containment helped its third quarter results to top forecasts. Net profit excluding one-off items and inventory charges fell only 47% to US$4.67B, versus the median analyst prediction of US$3.25B. Still, the earnings weren’t the only achievement BP announced yesterday. It [...]
Also filed in
|
Tagged BP PLC
|
Alcoa Inc. created quite a buzz on the investor circuit yesterday, stunning analysts by returning to profitability in its third quarter. Many were expecting that the world’s largest aluminum producer would continue to be burdened by the global economic downturn and report a loss of USD 0.09 per share. However, Alcoa posted profits of US$77M [...]
Yesterday, Boeing Co. announced that it had suffered yet another setback in its commercial plane unit. Boeing, the world’s #2 aircraft-maker, said that it will incur a US$1 billion charge on its 747-8 program (the revamped version of its 747 jumbo jet), due to production and design issues. As a result, Boeing will push back [...]
Corning Inc., a global leader in specialty glass products, saw its shares soar 4.66% yesterday, after UBS lifted its recommendation on Corning shares to “Buy” from “Neutral”, and increased the price target for the stock by US$0.50 to US$19.00. A UBS analyst upgraded Corning based on an improved outlook for Liquid Crystal Display (LCD) screens [...]
After inking a contract with Czech Power Company yesterday morning, General Electric Co. is enthusiastic about more positive developments to come, as it positions itself to rebound once the global economy recovers. Czech Power Company, which is known for its diversification across product lines and geographical locations, said that it is confident that one of [...]
In a sharp contrast to the state of the real-life construction industry, Europe’s biggest toymaker – Lego Holding A/S – saw demand for its colorful, miniature building blocks skyrocket during the first half of the year, as parents seek more economical toys for children. Lego’s six-month profit rose 60% to DKK684M (US$130M) from DKK427M for [...]
Hasbro Inc., the world’s second largest toy-maker, posted better-than-expected profits for its second quarter ended June 28, 2009. Profits rose 4.8% to US$39.3M or US$0.26 per share (from US$0.25 per share a year earlier). This surpassed analysts’ forecasts of US$0.25 per share. Hasbro attributed the increase in net profit to strong demand for its movie-themed [...]
India’s Tata Steel Ltd. announced that its Corus unit will likely be forced to lay off another 366 workers. These new, proposed job losses come just one week after the Company announced that 2000 jobs would be cut at its UK plants, and just months behind a January-2009 announcement of a 2500 person reduction in [...]