Three Dolphins make All-Rookie Team; Miami signs DB to futures contract – The Denver Post
Opinion | Biden Promised a Black Woman on the Supreme Court
Send any friend a story
As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.
By Charles M. Blow
Boeing's 737 Max returns to commercial service
New York (CNN Business)Boeing took nearly $4 billion in charges related to problems it had with the 787 Dreamliner, causing losses to soar for the third straight year.
The company had already been hit with the problems with the grounding of the 737 Max, which was grounded for 20 months starting in 2019 following two fatal crashes. Demand then plunged for new aircraft because of massive airline losses caused by the pandemic.
Boeing has essentially not been able to deliver the widebody 787 jet for a year because of quality control issues.
The company said it will have to pay $3.5 billion to compensate customers for the delayed deliveries. It also said the delays would increase the costs of producing the plane by an estimated $2 billion, with most of those costs coming at the end of this year. It booked $285 million of those increased costs in the just completed quarter.
The charges caused the company to report a net loss of $4.3 billion for the year, which is actually an improvement from the $11.9 billion it lost in 2020. Its core loss, excluding special items came to $4.1 billion for the year, with a quarterly loss on that basis of $4.5 billion. That was far worse than forecast by analysts.
Intel Corporation Announces Fall In Q4 Profit
Intel Corporation (INTC) reported a profit for fourth quarter that decreased from last year
The company’s earnings totaled $4.62 billion, or $1.13 per share. This compares with $5.86 billion, or $1.42 per share, in last year’s fourth quarter.
Excluding items, Intel Corporation reported adjusted earnings of $4.45 billion or $1.09 per share for the period.
The company’s revenue for the quarter rose 2.8% to $20.53 billion from $19.98 billion last year.
Intel Corporation earnings at a glance (GAAP) :
-Earnings (Q4): $4.62 Bln. vs. $5.86 Bln. last year.
-EPS (Q4): $1.13 vs. $1.42 last year.
-Revenue (Q4): $20.53 Bln vs. $19.98 Bln last year.
Next quarter EPS guidance: $0.80
Next quarter revenue guidance: $18.3 Bln
Intel Q4 Results Beat Wall Street View
Intel Corp. (INTC) Wednesday reported a profit for the fourth quarter that trumped Wall Street estimates, as revenues grew 3% driven by Data Center Group’ record revenues.
Santa Clara, California-based Intel reported fourth-quarter profit of $4.62 billion or $1.13 per share, down from $5.86 billion or $1.42 per share last year.
Adjusted earnings for the quarter were $1.09 per share, down from $1.48 per share last year. On average, 34 analysts polled by Thomson Reuters estimated earnings of $0.90 per share for the quarter.
Intel’s revenues for the quarter rose 3% to $20.53 billion from last year’s revenue of $19.98 billion. Adjusted revenues for the quarter were $19.5 billion, compared to $18.9 billion a year ago. Analysts had a consensus revenue estimate of $18.32 billion for the quarter.
The company said its fourth-quarter revenue was led by an all-time record quarter for Data Center Group (DCG), with strong server recovery in enterprise and government.
Looking forward to the first quarter, Intel expects adjusted revenues of about $18.3 billion and adjusted earnings of around $0.80 per share. Analysts currently estimate earnings of $0.86 per share and revenues of $17.62 billion.
INTC closed Tuesday’s trading at $51.69, up $0.69 or 1.35%, on the Nasdaq. The stock, however, slipped $1.48 or 2.86%, in the after-hours trade.
Gold Futures Settle At Over Two-Month High
Gold prices climbed on Tuesday, extending gains from the previous session, even as the dollar stayed firm ahead of the Federal Reserve’s monetary policy announcement due on Wednesday.
Weakness in stock markets prompted investors to seek the safe-haven commodity.
The Fed is unlikely to raise rates this month, but the accompanying statement from the central bank could hint at the first rate hike as early as the next meeting in mid-March.
Fed funds futures, which track short term rate expectations, have priced in a total of four rate increases this year.
Lingering tensions between the U.S. and Russia over Ukraine and expectations of monetary tightening by the Federal Reserve in the foreseeable future contributed to the dollar’s uptick.
The dollar index climbed to 96.27 but subsequently pared some gains and was at 97.03 a little while ago, netting a gain of about 0.12%.
Gold futures for February ended up by $10.80 or about 0.6% at $1,852.50 an ounce, the highest settlement since November 18, 2021.
Silver futures for March ended higher by $0.096 at $23.896 an ounce, while Copper futures for March settled at $4.4500 per pound, gaining $0.0375.
In U.S. economic news, the Conference Board released a report showing consumer confidence pulled back by less than expected in the month of January.
The Conference Board said its consumer confidence index dipped to 113.8 in January after climbing to a revised 115.2 in December. Economists had expected the index to drop to 111.9 from the 115.8 originally reported for the previous month.