Univision Sold To Two Investment Companies: Former Viacom Exec Wade Davis To BE CEO
Rupee settles 13 paise higher at 71.85 against U.S. dollar on easing crude prices, weak dollar
Forex traders said while weak dollar and easing crude oil prices supported the rupee, losses in the domestic stocks and foreign fund outflows weighed on the local unit restricting its move up
The rupee on Tuesday recovered 13 paise to close at 71.85 (provisional) against the U.S. dollar amid easing crude oil prices and weakening of the American currency in the overseas market.
Forex traders said while weak dollar and easing crude oil prices supported the rupee, losses in the domestic stocks and foreign fund outflows weighed on the local unit restricting its move up.
At the interbank foreign exchange market, the local currency opened on a positive note at 71.84. During the day, it saw a high of 71.78 and a low of 71.90.
The Indian currency settled higher by 13 paise at 71.85, cutting short its three-day losing run, according to provisional market data.
The domestic unit had settled at 71.98 against the American currency on Monday.
“Rupee started the day strong on back of firm opening of stocks, selling by exporters and a weak dollar,” said Jateen Trivedi, senior research analyst (commodity & currency) at LKP Securities.
Cheniere Energy Inc. Profit Climbs In Q4
Cheniere Energy Inc. (LNG) revealed earnings for its fourth quarter that advanced from last year.
The company’s earnings totaled $939 million, or $3.34 per share. This compares with $67 million, or $0.26 per share, in last year’s fourth quarter.
Analysts had expected the company to earn $0.47 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 26.5% to $3.01 billion from $2.38 billion last year.
Cheniere Energy Inc. earnings at a glance:
-Earnings (Q4): $939 Mln. vs. $67 Mln. last year.
-EPS (Q4): $3.34 vs. $0.26 last year.
-Analysts Estimate: $0.47
-Revenue (Q4): $3.01 Bln vs. $2.38 Bln last year.
Top Iranian Health Official Tests Positive for Coronavirus
A top Iranian health official has been diagnosed with coronavirus in another sign the disease may be spiraling out of control in the country.
Iraj Harirchi, a deputy health minister who has been the face of the government’s campaign against the virus, said he tested positive for it late Monday, the day he gave a press briefing on efforts to combat the outbreak.
Mideast Virus Cases Climb as Countries Restrict Air Travel
Iran has become the epicenter of the disease in the Middle East, recording the highest number of deaths outside China. It has reported 15 deaths and 95 confirmed cases so far, and all of its Arab neighbors that have been affected by the virus have linked their cases to Iran.
Harirchi confirmed the news in a video clip published on social media, adding that he was in good health and promising that Iran would defeat its coronavirus epidemic in a few weeks.
New York Fed accepts $49.46 bln overnight repo bids
BOSTON, Feb 25 (Reuters) – The New York Federal Reserve said it accepted $49.46 billion in overnight bids from primary dealers in a repurchase agreement (repo) operation, a move intended to keep the federal funds rate within its target range. (Reporting by Ross Kerber; Editing by Andrew Heavens)
Entercom Q4 Profit Tops Estimates – Quick Facts
Entercom Communications Corp. (ETM) reported fourth-quarter adjusted net income per share of $0.40 compared to $0.35, a year ago. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.38, for the quarter. Analysts’ estimates typically exclude special items. Adjusted EBITDA was $113.0 million, up 2% from last year.
Fourth-quarter net revenues were $414.1 million, up 1% from previous year. Analysts expected revenue of $412.24 million for the quarter.
As of December 31, 2019, the company had outstanding $887 million of senior debt under its credit facilities. Also, the company had $20 million in cash on hand.
Spain to sell 5 bln euros of new 30-year bond
LONDON, Feb 25 (Reuters) – Spain was set to price a 5 billion-euro, new 30-year bond on Tuesday after final orders exceeded 18 billion euros, according a lead manager.
Investor demand fell from the 28 billion euros announced earlier in the day, after the final spread was set.
The deal will price at a spread of 86 basis points over mid-swaps, the lead manager said.
AMC Networks Announces Long-Term Distribution Deal With Dish/SlingTV
AMC Networks Tuesday announced today a comprehensive, long-term distribution agreement with DISH Network and Sling TV that includes continued carriage of AMC Networks’ linear channels AMC, BBC America, IFC, SundanceTV, WE tv and BBC World News, as well as the launch in the coming months of AMC Networks’ targeted SVOD services Acorn TV, Shudder, Sundance Now and Urban Movie Channel (“UMC”); AMC Networks’ ad-free offering AMC Premiere; and its IFC Films Unlimited streaming service.
“We’re pleased to expand on our successful longtime partnership with DISH with the launch of our diverse portfolio of growing ad-free and targeted on-demand services and continued carriage of our linear networks,” said Josh Reader, President of Distribution and Development for AMC Networks. “Much like our linear channels, our ad-free services provide passionate audiences with exceptional content and new ways to innovate with valued distribution partners like DISH as our businesses evolve together.”