AutoNation Inc. Q4 adjusted earnings Beat Estimates

Singapore Govt Maintains 2021 Growth Outlook

Singapore’s growth outlook for this year was maintained as the government expects a gradual recovery underpinned by the pickup in foreign demand.

In 2021, the city-state economy is projected to grow 4 percent to 6 percent, which was unchanged from the previous forecast, the Ministry of Trade and Industry said Monday.

The economy had contracted 5.4 percent in 2020, in contrast to the 1.3 percent growth logged in 2019.

Gross domestic product shrank 2.4 percent year-on-year in the fourth quarter, slower than the 3.8 percent decline initially estimated and also smaller than the 5.8 percent decline posted in the third quarter.

On a quarter-on-quarter basis, the economy expanded 3.8 percent, after rising 9.0 percent growth recorded in the previous quarter. The fourth quarter growth was revised up from 2.1 percent.

According to MTI, outward-oriented sectors are forecast to benefit from the pickup in external demand this year. Meanwhile, the tourism and aviation-related sectors are projected to see a weaker recovery than previously expected due to the slow pace of lifting travel restrictions.

Consumer-facing sectors, namely retail trade and food and beverage services are expected to benefit from an improvement in consumer sentiments, the government noted.

Although the construction and marine and offshore engineering sectors are projected to recover from the low base last year, activity levels at construction worksites and shipyards will continue to be dampened by the requirement for safe management measures.

Allegion Q4 adjusted earnings Beat Estimates

Allegion (ALLE) reported a profit for its fourth quarter that advanced from last year.

The company’s bottom line totaled $93.3 million, or $1.01 per share. This compares with $80.7 million, or $0.86 per share, in last year’s fourth quarter.

Excluding items, Allegion reported adjusted earnings of $137.1 million or $1.49 per share for the period.

Analysts had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.1% to $727.3 million from $719.5 million last year.

Allegion earnings at a glance:

-Earnings (Q4): $137.1 Mln. vs. $119.8 Mln. last year.
-EPS (Q4): $1.49 vs. $1.28 last year.
-Analysts Estimate: $1.19
-Revenue (Q4): $727.3 Mln vs. $719.5 Mln last year.

Hannity Warns ‘Sanctimonious’ McConnell: Time Is Coming For New Senate Leadership

Fox News’ Sean Hannity was not happy with Senate Minority Leader Mitch McConnell’s criticism of former President Donald Trump at the weekend.

McConnell on Saturday voted to acquit Trump of inciting the deadly U.S. Capitol riot but then immediately declared the ex-president morally responsible for provoking the violence.

On Monday, Trump ally Hannity put McConnell on notice over his comments.

The prime time personality slammed McConnell as “sanctimonious” and accused the seven Senate Republicans who voted to convict Trump as being “way out of touch” with the GOP base.

“When is he going to give a speech on the Senate floor and hold those Democrats accountable for their incitement of insurrection and their insurrection-like language?” Hannity asked of McConnell.

“The time is now coming for new leadership in the U.S. Senate,” Hannity added.

Trump was acquitted on Saturday after the Senate voted 57 to 43 in favor of convicting him. A total 67 votes were needed to convict.

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Rupee settles on flat note, down 1 paisa at 72.69 against U.S. dollar

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.29% to 90.21.

The Indian rupee settled just 1 paisa lower at 72.69 (provisional) against the U.S. dollar on Tuesday amid a muted trend in the domestic equity market.

At the interbank forex market, the local unit opened at 72.64 against the greenback and witnessed an intra-day high of 72.63 and a low of 72.85.

It finally ended at 72.69 against the American currency, registering a fall of just 1 paisa over its previous close.

On Monday, the rupee had settled at 72.68.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.29% to 90.21.

On the domestic equity market front, the BSE Sensex ended 49.96 points or 0.10% lower at 52,104.17, while the broader NSE Nifty declined 1.25 points or 0.01% to 15,313.45.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹1,234.15 crore on Monday, according to exchange data.

Brent crude futures, the global oil benchmark, fell 0.09% to $63.24 per barrel.

AutoNation Inc. Q4 adjusted earnings Beat Estimates

AutoNation Inc. (AN) released a profit for fourth quarter that fell from the same period last year.

The company’s bottom line came in at $151.5 million, or $1.73 per share. This compares with $157.7 million, or $1.74 per share, in last year’s fourth quarter.

Excluding items, AutoNation Inc. reported adjusted earnings of $213.1 million or $2.43 per share for the period.

Analysts had expected the company to earn $2.01 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 4.1% to $5.78 billion from $5.55 billion last year.

AutoNation Inc. earnings at a glance:

-Earnings (Q4): $213.1 Mln. vs. $113.2 Mln. last year.
-EPS (Q4): $2.43 vs. $1.25 last year.
-Analysts Estimate: $2.01
-Revenue (Q4): $5.78 Bln vs. $5.55 Bln last year.