Evergrande Unit Adds Property Services Firm for $233 Million
China Evergrande Group’s property services unit bought a rival firm for 1.5 billion yuan ($233 million) to help meet itsambitions of increasing profit by 50% this year and becoming the country’s largest property manager.
Evergrande Property Services Group Ltd. agreed to buy Ningbo Yatai Hotel Property Services Co., adding 940 projects serving two million homeowners to its portfolio, the company said in a statement Friday. Ningbo Yatai also manages office buildings and industrial parks.
The deal is the first by Evergrande Property Services since it raised $1.84 billion in an initial public offering in November. At the time, the company said the majority of the proceeds would be used for acquisitions.
The property servicesstock has almost doubled from its IPO price of HK$8.80, closing Friday at HK$17.18.
— With assistance by Emma Dong, and Charlie Zhu
Dr. Reddy’s Turns To Profit In Q3 On Higher Revenues – Quick Facts
Dr. Reddy’s Laboratories Ltd. (DRREDDY,RDY) reported Friday that its third-quarter profit was $3 million, compared to loss of $78 million last year. Earnings per share were $0.02, compared to last year’s loss of $0.47 per share.
Sequentially, profit fell 97 percent from $104 million or $0.63 per share in the preceding second quarter.
Revenues grew 12 percent to $675 million from $600 million a year ago. Sequentially, revenues edged up 1 percent to $671 million.
Russia's RDIF says it could ship 100 million doses of vaccine to EU in second quarter
MOSCOW (Reuters) – Russia could provide the European Union with 100 million doses of its Sputnik V coronavirus shot – enough to vaccinate 50 million people – in the second quarter of 2021, the Russian Direct Investment Fund, which markets the shot abroad, tweeted on Friday.
Erin Burnett Flips GOP Rep. Matt Gaetz’s ‘Cancel Culture’ Whine Back On Him
Erin Burnett held up Rep. Matt Gaetz (R-Fla.) as the perfect example of GOP hypocrisy on so-called “cancel culture” on Thursday.
Burnett, the host of CNN’s “Outfront,” noted how Gaetz had earlier in the day “got on a plane, traveled 1,500 miles from his district” to outside the Wyoming state capitol so he could rant about Wyoming GOP Rep. Liz Cheney because she refused to buy into Donald Trump’s election lies and voted to impeach the one-term president over his incitement of the deadly U.S. Capitol riot.
“For a party that rails against cancel culture, they sure are canceling a lot of people,” said Burnett. “They love the word cancel culture. Canceling Liz Cheney, that’s the latest. She happened to speak the truth.”
Burnett later aired footage of Gaetz himself calling out cancel culture.
“It seems that Matt Gaetz should probably… I mean, if he’s consistent, be outraged at Matt Gaetz,” she suggested.
“I’m not for the cancel culture,” Gaetz said in one clip.
“Well, except for, you are,” Burnett responded.
Watch the video here:
GameStop, Koss shares double in early deals
(Reuters) – Shares of videogame retailer GameStop Corp and headphone maker Koss Corp doubled in early premarket trading on Friday as amateur traders returned a day after online brokerage apps, including Robinhood, imposed buying restrictions on the stocks.
NEC Corp. 9-month Adj. Profit Rises; Revenue Down 6% – Quick Facts
NEC Corp. (NIPNF.PK) reported net profit to owners of the parent of 54.5 billion yen for the nine-month period ended December 31, 2020, an increase of 10.9 percent from previous year. Earnings per share was 204.02 yen compared to 189.46 yen. Adjusted net profit to owners of the parent was 63.69 billion yen, up 11.9 percent. Adjusted basic earnings per share was 238.25 yen compared to 219.18 yen.
For the nine month period, revenue was 2.04 trillion yen, down 6.0 percent from a year ago.
For the year ending March 31, 2021, the company projects: revenue of 3.03 trillion yen; and adjusted basic earnings per share of 368.57 yen.
TDK Corp. 9-month Net Income Declines; Sales Up 2.3% – Quick Facts
TDK Corp. (TTDKF.PK,TTDKY.PK) reported net income to company of 73.1 billion yen for the nine month period, down 1.8 percent from last year. Earnings per share was 577.30 yen compared to 587.81 yen.
For the nine month period, net sales were 1.09 trillion yen, an increase of 2.3 percent from previous year.
Third quarter earnings per share was 243.72 yen compared to 232.84 yen, previous year. Net sales were 395.69 billion yen, an increase of 11.3 percent from a year ago.
Malaysia reports record daily increase of 5,725 coronavirus cases, taking total infections past 200,000
KUALA LUMPUR (REUTERS) – Malaysia on Friday (Jan 29) reported 5,725 new coronavirus cases, the highest daily increase since the start of the pandemic a year ago.
The new cases took the cumulative total of infections past the 200,000-mark.
Health authorities also reported 16 deaths, raising total fatalities to 733.