News 

Dick’s Sporting Goods downgraded on weak ‘profit profile’

“Dick’s Sporting Goods shares are up 3.1% in Wednesday trading but down more than 18% this week, after reporting second-quarter results” writes Tonya Garcia for marketwatch.com. “To say we overstayed our welcome on Dick’s Sporting Goods is an understatement,” analysts said.DKS, +3.16% was downgraded to hold from buy at Canaccord Genuity on concerns that heavy promotions are hurting the company. Source: marketwatch.com Share This:

Read More
News 

UnitedHealth names David Wichmann CEO

“Wichmann has spent nearly 20 years with the company and was previously its chief financial officer” writes Michael Erman for businessinsider.com. (Reuters) – UnitedHealth Group Inc said on Wednesday president David Wichmann will become the company’s chief executive, succeeding Stephen Hemsley, who is moving to the newly created role of executive chairman after more than a decade at the helm of the largest U.S. health insurer.Wichmann, 54, was widely viewed inside and outside of the company as Hemsley’s likely successor, although the timing of the change was sooner than some…

Read More
News 

Balfour Beatty continues turnaround as profits go into the black

“Balfour Beatty has made further progress in its plan to transform the business, pushing pre-tax profits into the black for the first half of the year” writes Rhiannon Bury for telegraph.co.uk. Pre-tax profits were £12m in the six months to June 30, up from a loss of £15m a year previously.Revenues for the company were up 8pc at £4.2bn, and Balfour lifted its interim dividend by a third to 1.2p.The results are in stark contrast to the summer of 2015, when the company issued its seventh profit warning in a…

Read More
News 

Target’s Profit, Com Sales Beat on Higher Customer Visits

“Target’s shares rose as much as 5 percent to $57.01 before the bell on Wednesday after the retailer also said it would double the number of its small-format stores” writes Reuters Editorial for reuters.com. The company had 34 small-format stores at the end of the second quarter.On a per share basis, Target earned $1.22 compared with $1.16 in the year-ago period, as the company had fewer shares outstanding.The company gave an indication that its efforts are paying off, and last month estimated that second-quarter sales would rise, helped by improved…

Read More
News 

Balfour Beatty swings to pretax profit

“U.K. construction company Balfour Beatty PLC (BBY.LN) Wednesday reported a swing to pretax profit, in line with company expectations, as it continues its group restructuring plan” writes Oliver Griffin for marketwatch.com. Balfour Beatty’s order book fell 4.2% to GBP11.4 billion, with the company citing its policy of selective bidding, which sees Balfour avoid projects that aren’t aligned with its capabilities, or where risk and reward aren’t balanced. Source: marketwatch.com Share This:

Read More
News 

Carlsberg operating profit rises 20%

“PARIS–Danish brewer Carlsberg’s (CARL-A.KO) half-year operating profit before special items rose 20% to 4.13 billion Danish kroner ($652 million), beating analysts’ forecasts of 3.84 billion kroner” writes Noemie Bisserbe for marketwatch.com. The company maintained its outlook for 2017 of mid-single-digit percentage growth in organic operating profit. Net profit rose 23% to 2.30 billion kroner, boosted by growth in Asia and improving margins in Western Europe. Source: marketwatch.com Share This:

Read More
News 

Home Depot beats across the board and raises its outlook

“(Reuters) – Home Depot Inc reported higher-than-expected quarterly profit and comparable sales on Tuesday, and also raised its full-year sales and profit forecast” writes Sruthi Ramakrishnan for businessinsider.com. It had previously forecast sales to grow 4.6 percent, comparable sales to rise 4.6 percent and earnings of $7.15 per share.The company on Tuesday said it now expects full-year sales to grow 5.3 percent, comparable sales to rise 5.5 percent and earnings of $7.29 per share for the year ending January. Source: businessinsider.com Share This:

Read More
News 

John Menzies profit falls, to meet 2017 targets

“LONDON–John Menzies PLC (MNZS.LN) reported Tuesday an 83% fall in first-half pretax profit due to one-off items relating to corporate transaction costs and benefit pension de-risking, but said it is on track to meet expectations for the full year” reports marketwatch.com. The logistics and distribution services provider made a pretax profit of 0.5 million pounds ($0.6 million) in the six months ended June 30, down from GBP3 million made in the corresponding period a year ago.Turnover, however, rose to GBP1.22 billion from GBP1 billion, and excluding exceptional items of GBP17.6…

Read More
News 

Hargreaves Lansdown full-year profit jumps 20%

“LONDON–Investment management products provider Hargreaves Lansdown PLC (HL.LN) Tuesday reported a rise in full-year net profit as it benefited from winning new clients and higher assets under management” writes Rory Gallivan for marketwatch.com. It scrapped the special dividend due to plans by the U.K. financial regulator to increase capital requirements. “There are considerable challenges for people in the current saving and investment environment but there are also opportunities, and Hargreaves Lansdown is ideally placed to help people make their investment decisions with confidence,” said Chief Executive Chris Hill.Net profit for…

Read More
News 

Google paying Apple billions to remain default search on iOS, analyst says

“Alphabet’s Google GOOGL, +0.96% is paying Apple AAPL, +1.37% billions of dollars a year to remain the default search engine on iOS devices such as the iPad and iPhone, according to a research note from Bernstein” writes Tech Reporter for marketwatch.com. Citing court documents that indicate Google paid Apple $1 billion in 2014, Bernstein analyst A.M. Sacconaghi Jr. made a case that the number will triple in fiscal 2017 to $3 billion.The analyst cautioned that at some point in the future Google could decide that its search business is secure…

Read More