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Coca-Cola sales surprise as its water, coffee gain popularity

“Coca-Cola reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, sending its shares up 2.4 percent” reports nypost.com. On an adjusted basis, the company reported earnings per share of 39 cents, beating analysts’ average estimate of 38 cents.A year earlier the company had posted a profit of $550 million, or 13 cents per share. Source: nypost.com Share This:

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ABB sees brighter outlook after fourth-quarter net profit drops

“ABB gave a brighter outlook for 2018, saying on Thursday it saw improving markets around the world after its overhaul hit the engineering group’s fourth-quarter earnings” writes Gianluca Colla for cnbc.com. The maker of power transmission equipment and industrial robots said net profit fell 8 percent to $393 million during the three months ended Dec. 31, missing the average estimate of $424 million in a Reuters poll of analysts.Revenues rose 3 percent to $9.28 billion, short of the poll estimate of $9.5 billion, while orders rose to a weaker-than-expected $8.48…

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Sony reported its highest third quarter profit and raised full-year guidance

“Japan’s Sony on Friday reported a nearly four-fold jump in third-quarter operating profit on growing demand for its image sensors, and raised its full-year earnings outlook” writes Tomohiro Ohsumi for cnbc.com. The electronics firm posted an operating profit of 350.8 billion yen ($3.20 billion) for the October-December quarter, up from 92.4 billion yen a year ago.That was Sony’s highest third-quarter profit ever and far above a consensus estimate of 240.8 billion yen from 10 analysts polled by Thomson Reuters I/B/E/S. Sony raised its profit forecast for the year ending March…

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Alibaba revenue jumps 56%; the China retail giant also buys stake in Ant Financial

“Revenue for the October-December period rose to 83.03 billion yuan ($13.19 billion), up from 53.25 billion yuan a year earlier” writes Aly Song for cnbc.com. That compared with the 21.5 billion yuan estimate of analysts surveyed by Thomson Reuters.Net income attributable to shareholders rose to 24.07 billion yuan, or $1.41 per share, up 34.8 percent from 17.9 billion yuan in the same quarter a year earlier.That exceeded the 79.8 billion yuan average estimate of 28 analysts polled by Thomson Reuters. Source: cnbc.com Share This:

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Cigna tops profit estimate, gives upbeat 2018 forecast

“Health insurer Cigna reported a better-than-expected quarterly profit on Thursday, helped by higher enrollment and it forecast 2018 earnings above Wall Street estimates” reports foxbusiness.com. Operating revenue increased 6 percent to $10.51 billion, just above analysts’ estimate of $10.31 billion.Cigna joined other health insurers, such as UnitedHealth and Anthem, in reporting a strong quarter and an upbeat forecast thanks to the recent U.S. tax changes.Excluding items, the company earned $1.94 per share, beating analysts’ average estimate of $1.89.The company focuses on large and medium-sized corporate healthcare and sells international insurance…

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Wells Fargo beats earnings estimates but falls short on revenue

“Wells Fargo reported fourth-quarter earnings that beat analyst estimates but fell just short on revenue” writes Rick Wilking for cnbc.com. The bank was expected to report fourth-quarter earnings of $1.07 per share on revenue of $22.38 billion, according to analysts surveyed by Thomson Reuters.The third-largest bank by assets said it earned $1.16 a share, or $6.2 billion, on revenue of $22.05 billion.Shares, however, were down nearly 1 percent in electronic trading shortly after the earnings release, off the morning lows.Profit received a boost from the tax bill, putting the bank…

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UK economy grew at weakest pace in five years in 2017 says PwC

“The UK slowdown comes as GDP growth in the eurozone and the US picks up strongly” writes Ben Chu for independent.co.uk. The Office for National Statistics will release its preliminary official estimate for Q4 2017 growth on 26 January.This would take calendar year growth to 1.8 per cent, down from 1.9 per cent in 2016 and the weakest expansion since the 1.5 per cent growth seen in 2012, at the height of the eurozone crisis.PwC’s forecast for the UK is notably weaker than the latest GDP estimate earlier this week from…

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Private sector job creation surged in December as holiday shopping boomed

“Private sector job creation surged in December as a strong holiday shopping season pushed companies to hire more workers, according to a report Thursday from ADP and Moody’s Analytics” writes Jeff Cox for cnbc.com. The education and health services sector was next at 50,000 and trade, transportation and utilities contributed 45,000.The private payrolls numbers come a day ahead of the government’s closely watched nonfarm payrolls report.Despite a job market that appears at full employment, salaries have been slow to rise.The information services sector was the only one to lose jobs,…

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Analyst slashes Tesla Model 3 fourth quarter forecast by nearly 70%

“As a result, the analyst lowered his fourth quarter Model 3 delivery forecast to 5,000 cars from 15,000 cars” writes Photo Bloomberg for cnbc.com. Erickson noted his conversations with sales representatives at 18 Tesla stores revealed Model 3 deliveries for the fourth quarter were pointing to lower than his estimate.KeyBanc Capital Markets reiterated its sector weight rating for Tesla shares, predicting the electric car maker will report weaker-than-expected financial results for its Model 3.”We estimate Tesla will announce delivery of [about 5,000] Model 3s in 4Q sometime early next week,…

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US GDP revised slightly lower on weaker consumer spending

“The Commerce Department on Thursday lowered its estimate for US economic growth in the third quarter as consumer spending was a little weaker than previously reported” writes Akin Oyedele for businessinsider.com. The Federal Reserve said last week that tax cuts were a factor supporting its modestly stronger outlook, but it warned that there was still uncertainty.Republicans expect the extra disposable income that consumers get, and wage increases from corporate tax cuts, to boost economic growth.Congress passed the final version of Republicans’ tax bill on Wednesday, ending a seven-week push to…

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