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J.M. Smucker shares jump 2.3% premarket as earnings top estimates

“J.M. Smucker Co. shares SJM, -1.55% surged 2.3% in premarket trade Thurday, after the maker of Folgers, Dunkin’ Donuts and Cafe Bustelo coffee beat earnings estimates for its second fiscal quarter” writes Ciara Linnane for marketwatch.com. Chief Executive Mark Smucker said earnings were driven by the pet food business, as well as Dunkin’ Donuts coffee and Jif peanut butter.Adjusted per-share earnings came to $2.02, ahead of the FactSet consensus of $1.90. Source: marketwatch.com Share This:

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Great Portland Estates ups guidance on office rents amid London supply squeeze

“Property developer Great Portland Estates has increased its guidance on the amount of rent it expects to get from its properties, saying that a lack of supply in London had improved its outlook” writes Rhiannon Bury for telegraph.co.uk. Having previously warned that rents could fall by as much as 7.5pc, the company said on Wednesday that it now expects values across its office and retail properties to range between 1.5pc growth and 2.5pc fall for the full year ending March 31, 2018.Toby Courtauld, chief executive of Great Portland Estates, said:…

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TalkTalk shares plummet after it posts £75m loss 

“The update knocked more than a tenth off the value of TalkTalk shares in early trading, wiping out progress made over the summer” writes Jack Torrance for telegraph.co.uk. Adjusted full year earnings before interest, tax, depreciation and amortisation (Ebitda) are now expected to come in at the lower end of TalkTalk’s earlier guidance of between £270m and £300m. Source: telegraph.co.uk Share This:

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Advance Auto Parts stock jumps as Wall Street zeroes in on better margins, guidance

“AZO, +2.08% Advance Auto Parts earlier Tuesday reported adjusted third-quarter earnings of $1.43 a share on sales of $2.18 billion” writes Claudia Assis for marketwatch.com. Shares of Advance Auto Parts Inc. skyrocketed 25% Tuesday after quarterly profit came in well above expectations and the company kept its full-year guidance intact, offsetting a slight sales miss. Source: marketwatch.com Share This:

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Top central bankers vow to talk investors out of easy money

“Then-Fed chair Ben Bernanke famously sent global bond markets into a tailspin in May 2013 by suggesting that bond purchases could be reduced” reports cnbc.com. “Why discard a monetary policy instrument that has proved to be effective?”. Four of the world’s top central bankers promised on Tuesday to keep openly guiding investors about future policy moves as they slowly withdraw the huge monetary stimulus rolled out during the financial crisis.To do this, words will be key, the heads of the four central banks told an ECB conference on communication.”Forward guidance…

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Lonely Wall Street analyst is ‘sticking’ with General Electric shares

“It was the company’s first investor day under CEO John Flannery, who replaced Jeff Immelt in August” writes Michael Nagle for cnbc.com. General Electric shares had their worst day since 2009 on Monday, falling 7 percent after the company reduced its dividend and unveiled a restructuring plan during its investor day.We are “sticking with a buy despite a disappointing outlook,” analyst Andrew Obin wrote in a note to clients Tuesday.We note that the company has undergone a significant reinvestment cycle, positioning the company well from a competitive standpoint.”.  Source: cnbc.com…

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Hertz shares rally after company posts first profit in a year before turning south

“Shares of car-rental firm company Hertz Inc. rallied about 11% early Friday before reversing their gains to trade down 1%, after the company reported its first profit in a year” writes Ciara Linnane for marketwatch.com. Analysts surveyed by FactSet had estimated adjusted earnings of $1.35 a share on revenue of $2.57 billion.The company HTZ, -1.14% has suffered several quarters of losses in a sector pressured by weak pricing and rising fleet costs as well as competition from ride-hailing services such as Uber and Lyft. Source: marketwatch.com Share This:

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Hikma cuts guidance on generics unit for 3rd time

“The multinational pharmaceutical expects generics unit revenue to be around $600 million compared with its previous guidance of $620 million given in August” writes Ian Walker for marketwatch.com. Hikma Pharmaceuticals PLC (HIK.LN) lowered its guidance for its generics unit for the third time on Thursday, but said that it still expects group revenue to be around $2.0 billion in constant currency.It blamed continued challenging market conditions for the lower guidance, adding that it sees the core operating margin for the unit in the low single-digits.It had originally forecast revenue of…

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Vestas profit falls, missing views; trims guidance

“The company now sees full-year revenue at between EUR9.50 billion and EUR10.25 billion from an earlier estimate of EUR9.25 billion to EUR10.25 billion” writes Dominic Chopping for marketwatch.com. Third-quarter order intake rose to 2,615 megawatts, worth EUR2.1 billion, from 1,769 megawatts.Net profit for the third quarter fell to 253 million euros ($283.9 million) from EUR309 million a year earlier, missing analyst expectations of EUR306 million according to a FactSet poll.”Vestas delivered increased order intake and healthy earnings in a market that is seeing accelerated competition and decreasing profitability,” said Chief…

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