Commonwealth Bank Of Australia FY Profit Rises; To Buy Back A$6 Bln Of Shares

SandRidge Energy Inc. Q2 adjusted earnings of $0.45 per share

Below are the earnings highlights for SandRidge Energy Inc. (SD):

-Earnings: $16.25 million in Q2 vs. -$215.78 million in the same period last year.
-EPS: $0.44 in Q2 vs. -$6.06 in the same period last year.
-Excluding items, SandRidge Energy Inc. reported adjusted earnings of $16.51 million or $0.45 per share for the period.
-Revenue: $34.20 million in Q2 vs. $16.66 million in the same period last year.

Chesapeake Energy Corp. Q2 adjusted earnings of $1.64 per share

Below are the earnings highlights for Chesapeake Energy Corp. (CHK):

-Earnings: -$439 million in Q2 vs. -$276 million in the same period last year.
-EPS: -$4.48 in Q2 vs. -$28.22 in the same period last year.
-Excluding items, Chesapeake Energy Corp. reported adjusted earnings of $181 million or $1.64 per share for the period.
-Revenue: $693 million in Q2 vs. $507 million in the same period last year.

Broncos practice against Minnesota during training camp

1. Practicing against 4-3 front

2. Vikings WRs vs. Broncos DBs

3. Teddy’s return

4. Run-game drills

5. Keeping it clean

European Economics Preview: Eurozone Final Composite PMI Data Due

The final composite Purchasing Managers’ survey results from euro area and the UK are due on Wednesday, headlining a busy day for the European economic news.

At 3.00 am ET, retail sales from Hungary and foreign trade data from Austria are due.

At 3.15 am ET, IHS Markit is slated to release Spain’s services PMI data. Economists forecast the index to rise to 63.0 in July from 62.5 in June.

At 3.45 am ET, Italy’s services PMI data is due. The services index is expected to climb to 58.3 in July from 56.7 in the previous month.

Thereafter, final PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit is set to issue euro area final composite PMI survey data. The final composite index is seen at 60.6 in July, unchanged from the flash estimate, and up from 59.5 in June.

Half an hour later, UK final Markit/CIPS composite PMI survey results are due. The composite output index is expected to match the flash estimate of 57.7.

At 5.00 am ET, Eurostat is scheduled to issue euro area retail sales for June. Economists expect sales to grow 1.7 percent on month, slower than the 4.6 percent increase seen in the prior month.

South Korea July jobless rate falls for a second month

A woman looks at recruiting information during a job fair in Seoul, South Korea, April 12, 2017. REUTERS/Kim Hong-Ji/Files

SEOUL (Reuters) – South Korea’s unemployment rate fell in July for a second month even as the fallout from the coronavirus pandemic worsened during the summer.

The seasonally adjusted unemployment rate declined to a one-year low of 3.3% from 3.7% in June, government data showed on Wednesday, while 542,000 jobs were added.

Opinion | No More Cuomo


By Gail Collins

Opinion Columnist

Wow, Andrew Cuomo is really going.

Hard to remember when he wasn’t all over the state. Impossible, really — he was managing his father’s campaign for governor in 1982, when he was 24.

South Korea July jobless rate falls for a second month

A woman looks at recruiting information during a job fair in Seoul, South Korea, April 12, 2017. REUTERS/Kim Hong-Ji/Files

SEOUL (Reuters) – South Korea’s unemployment rate fell in July for a second month even as the fallout from the coronavirus pandemic worsened during the summer.

The seasonally adjusted unemployment rate declined to a one-year low of 3.3% from 3.7% in June, government data showed on Wednesday, while 542,000 jobs were added.

Ethereum's 27-year-old founder says we're in a crypto bubble. Did it just burst?

New York (CNN Business)Furniture retailer Ethan Allen Interiors is changing its ticker symbol to prevent confusion with the cryptocurrency ethereum.

Beginning August 16, the company will trade on the New York Stock Exchange under the symbol “ETD” and will no longer use “ETH.”
Ethan Allen said using the letter “D” stands for design, which better reflects the company’s focus. It also noted some traders were getting confused with the cryptocurrency.

    “We also believe this change will better differentiate Ethan Allen news from ethereum news in search results, as ethereum is often abbreviated as ETH,” said Ethan Allen (ETH) CEO Farooq Kathwari.

      Ethereum, or ether for short, is the world’s second-most valuable cryptocurrency after bitcoin. Ether’s value has soared some 275% so far this year — even more than bitcoin — thanks to growing interest in non-fungible tokens and increased adoption of cryptos generally.

        Ether is the currency of choice used to purchase non-fungible tokens, or NFTs, the digital assets that have become increasingly popular in the art and sports collectibles world.
        Meanwhile, Ethan Allen’s shares have jumped 20% this year because of strong sales.

        Commonwealth Bank Of Australia FY Profit Rises; To Buy Back A$6 Bln Of Shares

        Commonwealth Bank of Australia (CBA.AX) reported that its net profit attributable to equity holders of the Bank for fiscal year 2021 rose to A$10.18 billion or 539.7 cents per share from A$9.59 billion or 521.0 cents per share last year.

        Cash net profit after tax from continuing operations increased 19.8% to A$8.65 billion from the previous year, due to an improvement in economic conditions and outlook resulting in a lower loan impairment expense and a strong contribution from volume growth in all core markets.

        Net interest income grew to A$18.84 billion from A$18.61 billion last year. Other banking income was A$5.27 billion up from A$5.00 billion in the prior year.

        Revenues from ordinary activities were A$24.41 billion up 2% from the previous year.

        Looking ahead, the company anticipates ongoing economic impacts and earnings pressure from lower interest rates.

        Based on a pay-out ratio of 71 per cent of cash profit, the Board determined a final dividend of A$2.00 a share, taking the total for the year to A$3.50 a share fully franked.

        In addition, Commonwealth Bank of Australia has announced a A$6 billion off-market buy-back of shares following the divestment of a number of businesses. The Buy-Back will be conducted by way of an off-market tender process which will open on Monday, 30 August 2021 and close on Friday, 1 October 2021.