Former Bombardier exec to take on new role as chief transformation officer at SNC-Lavalin
SNC-Lavalin Inc. has recruited a former Bombardier executive who oversaw key asset sales to oversee the engineering and construction firm’s strategic transformation.
Louis Veronneau will take on the new role of chief transformation officer, which includes possible divestments and reducing costs. The mergers and acquisitions specialist led negotiations to sell Bombardier’s majority stake in the C Series to Airbus, a stake of its rail division to the Caisse de depot et placement du Quebec and its Downsview site in Toronto to a pension fund.
Ayesha Curry partners with Meredith for new quarterly magazine
Meredith Corp. MDP, -0.46% said Wednesday that it has partnered with entrepreneur, TV personality and author Ayesha Curry on a quarterly magazine that will launch May 2020. The cover price will be $9.99 with a 400,000 initial print run for newsstands. The title of the magazine will be announced in the coming months. Meredith titles include "People," "RealSimple" and "Food & Wine." Ayesha Curry is married to superstar NBA player Steph Curry. Meredith stock has sunk 43.2% over the past year while the S&P 500 index SPX, +0.25% has gained 26.6% for the period.
Here Are the Losers From U.S.-China Trade Agreement
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$200 Bln Trade Deal Losers” class=”terminal-news-story” target=”_blank”>Bloomberg Economics sees the danger that China will hit its $200 billion extra purchases commitment in its trade deal with the U.S. by shifting purchases from other countries. In 2017, the baseline year for the deal, the U.S. share of China’s imports in the target categories was 9% — adding the target commitments would take the share to 17%. Angola, the Republic of the Congo and Mongolia face the highest risk, with 57%, 49% and 47% of their total exports in 2017 coming from sales to China in categories covered by the deal, while focusing on major economies exporting agriculture and energy products — where substitution is easiest — Brazil, Saudi Arabia and Australia are most exposed.
Boston Private Financial Holdings Inc. Q4 adjusted earnings Beat Estimates
Boston Private Financial Holdings Inc. (BPFH) released a profit for fourth quarter that fell from last year.
The company’s profit came in at $21.2 million, or $0.26 per share. This compares with $33.3 million, or $0.42 per share, in last year’s fourth quarter.
Excluding items, Boston Private Financial Holdings Inc. reported adjusted earnings of $20.5 million or $0.25 per share for the period.
Analysts had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 6.5% to $56.1 million from $60.0 million last year.
Boston Private Financial Holdings Inc. earnings at a glance:
-Earnings (Q4): $20.5 Mln. vs. $19.9 Mln. last year.
-EPS (Q4): $0.25 vs. $0.27 last year.
-Analysts Estimate: $0.22
-Revenue (Q4): $56.1 Mln vs. $60.0 Mln last year.
Chinese city Wuhan suspends outbound trains and flights, idles subway and bus networks
BEIJING (AP) — Chinese state media say the city of Wuhan is shutting down outbound flights and trains as the country battles the spread of a new virus that has sickened hundreds and killed 17.
The official Xinhua News Agency said Thursday that the city also asked people not to leave Wuhan without specific reasons.
Health authorities had previously urged people in the city to avoid crowds and public gatherings.
The state-owned People’s Daily newspaper said in a tweet that no one would be allowed to leave the city starting at 10 a.m. and that train stations and the airport will shut down. It said that city buses, subways, ferries and long-distance shuttle buses would also be temporarily closed, citing Wuhan authorities.
In Geneva, the World Health Organization said it had put off deciding whether to declare the outbreak a global health emergency and asked its expert committee on the issue to continue their meeting for a second day Thursday. The organization defines a global emergency as an “extraordinary event” that constitutes a risk to other countries and requires a coordinated international response.
Market Pulse: Coronavirus not yet declared a public health emergency by WHO
Citrix Systems Inc Q4 adjusted earnings of $1.71 per share
Citrix Systems Inc (CTXS) released a profit for its fourth quarter that advanced from last year.
The company’s earnings totaled $207.11 million, or $1.56 per share. This compares with $165.72 million, or $1.15 per share, in last year’s fourth quarter.
Excluding items, Citrix Systems Inc reported adjusted earnings of $227.11 million or $1.71 per share for the period.
The company’s revenue for the quarter rose 1.0% to $809.82 million from $801.87 million last year.
Citrix Systems Inc earnings at a glance:
-Earnings (Q4): $227.11 Mln. vs. . last year.
-Revenue (Q4): $809.82 Mln vs. $801.87 Mln last year.
Next quarter EPS guidance: $1.15 – $1.20
Citrix shares rise on big earnings beat
Citrix Systems Inc. CTXS, +1.17% shares rose 4% in after-hours trading Wednesday after the software company reported better-than-expected fourth-quarter earnings. Citrix reported net income of $207 million, or $1.56 share, compared with net income of $166 million, or $1.15 a share, in the year-ago period. Revenue grew 1% to $810 million from $802 million a year ago. Analysts surveyed by FactSet had expected $1.07 a share on revenue of $803 million. Citrix shares are up about 10% over the last 12 months. The S&P 500 index SPX, +0.03% has gained about 26% the last year.