First Financial Bancorp. Q4 Profit Edges Down
First Financial Bancorp. (FFBC) reported that its fourth-quarter net income was $48.3 million or $0.49 per share, compared to $48.7 million or $0.49 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share. Analysts’ estimates typically exclude special items.
Net interest income for the quarter was $118.47 million compared to $118.90 million in the prior year. Total non-interest income rose to $61.52 million from $36.77 million in the previous year.
In addition, First Financial’s board has authorized a quarterly dividend of $0.23 per common share for the next regularly scheduled dividend, payable on March 15, 2021 to shareholders of record as of March 1, 2021.
Olin Q4 Loss Narrows
Olin Corp. (OLN) reported that its fourth-quarter net loss narrowed to $33.0 million or $0.21 per share from $77.2 million or $0.49 per share in the previous year.
Sales for the fourth quarter 2020 were $1.65 billion compared to $1.39 billion in the fourth quarter 2019.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.09 per share and revenues of $1.45 billion for the fourth-quarter. Analysts’ estimates typically exclude special items.
The company expects first quarter 2021 adjusted EBITDA to improve sequentially from fourth quarter 2020.
Feeling Lonely? Wearing Cat Ears May Help
There may be no better time than the present to find love on multiplayer online role-playing games.
By Erik DeLapp
Casio Computer 9-month Results Down; Lifts FY21 Profit View, Backs Sales Forecast
Japan’s Casio Computer Co. Ltd. (CSIOF.PK,CSIOY.PK) reported Friday that its nine-month profit attributable to owners of parent fell 47.6 percent to 10.07 billion yen from 19.20 billion yen in the prior-year period. Basic earnings per share were 41.51 yen, down from 78.76 yen last year.
Operating profit for the period plunged 56 percent to 11.14 billion yen from 25.28 billion yen in the same period last year.
Net sales fell 24.2 percent to 166.44 billion yen from 219.46 billion yen last year.
Looking ahead, for fiscal year 2021, the company now expects profit attributable to owners of parent of 9.5 billion yen or 39.16 yen per basic share, down 46 percent from last year.
Operating profit would be 14 billion yen, down 51.8 percent, and net sales would be 220 billion yen, down 21.6 percent from the prior year.
The company previously projected full-year profit attributable of 6.5 billion yen or 26.79 yen per basic share, operating profit of 10 billion yen, and net sales of 220 billion yen.
Stora Enso Q4 Profit Down
Stora Enso (SEOAY.PK) reported that its fourth-quarter profit attributable to owners of the parent declined to 240 million euros from 520 million euros in the prior year. Earnings per share decreased by 53.9% to 0.30 euros from 0.66 euros in the prior year. Earnings per share excluding fair valuations increased by 127.5% to 0.09 euros from 0.04 euros last year.
Operating profit (IFRS) decreased to 289 million euros from 680 million euros in the prior year, mainly due to the change in biological asset valuation.
Sales for the quarter decreased by 10.7% to 2.15 billion euros, from last year’s 2.41 billion euros, due to structural changes, lower prices and volumes. Sales excluding Paper decreased by 2.5%.
Stora Enso said it resumes an annual outlook even though the uncertainties due to the ongoing pandemic in the global economy are expected to remain in 2021.
Operational EBIT in 2021 is expected to be higher than the 2020 operational EBIT.
Stora Enso will conclude its 400 million euros profit protection program by the end of 2021. The expected fixed and variable cost savings for the year are about 80 million euros. The Group will continue to focus on customer service and cash flow generation in 2021.
The Board of Directors proposes a dividend of 0.30 euros per share. In their proposal, the Board considered the Company’s solvency and liquidity
WeWork In Talks To Combine With SPAC, May Go Public: WSJ
Office-sharing company WeWork is in talks to combine with a special purpose acquisition company or SPAC, and may go public, the Wall Street Journal reported citing people familiar with the matter.
In addition, the company has received separate offers for a new private investment round. If they opt this, the company would stay private and use the money to support its growth initiatives.
As per the report, WeWork’s board and its Chief Executive Sandeep Mathrani have been considering offers from at least two companies, including a SPAC affiliated with Bow Capital Management LLC.
A deal could value WeWork, which failed in 2019 in its effort to go public, at about $10 billion.
WSJ quoted Lauren Fritts, WeWork’s chief communication officer, as saying, “Over the past year, WeWork has remained focused on executing our plans for achieving profitability. Our significant progress combined with the increased market demand for flexible space, shows positive signs for our business. We will continue to explore opportunities that help us move closer towards our goals.”
WeWork, co-founded by Adam Neumann and Miguel McKelvey, was a major private company once and was valued at as much as $47 billion.
Online film about alleged Putin's 'palace' watched over 100m times: Data
MOSCOW (REUTERS) – A film made by jailed Kremlin critic Alexei Navalny alleging President Vladimir Putin owns an opulent palace in southern Russia has been viewed more than 100 million times, according to YouTube data on Friday (Jan 29).
Mr Navalny’s team released the video last week in which he levelled his allegations about the palace.
Mr Putin has said the property does not belong to him, nor his family.
Join ST’s Telegram channel here and get the latest breaking news delivered to you.