Shell Issues Update To Q4 Outlook; Remaining Proceeds From Permian To Be Distributed As Buybacks

Greenbrier Swings To Profit In Q1; Results Top Estimates – Quick Facts

The Greenbrier Cos., Inc. (GBX) reported Friday first-quarter net earnings of $10.8 million or $0.32 per share, compared to a net loss of $10.0 million or $0.30 per share in the prior-year quarter.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share for the quarter. Analysts’ estimates typically exclude special items.

Total revenues for the quarter grew to $550.7 million from $403.0 million in the year-ago quarter. Analysts expected revenue of $532.55 million for the quarter.

The company’s Board also declared a quarterly dividend of $0.27 per share, payable on February 17, 2022 to shareholders of record as of January 27, 2022.

Samsung Electronics Q4 profit jumps on server chip demand, foundry margins

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Samsung Electronics Co Ltd on Friday (January 7) said its fourth-quarter operating profit likely jumped 52% on-year to its highest for the quarter in four years, helped by solid demand for server memory chips and higher margins in chip contract manufacturing.

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The world's largest memory chip and smartphone maker estimated October-December profit at 13.8 trillion won ($11.5 billion), which would be tech giant's highest fourth-quarter operating profit since Q4 2017.

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The result missed a Refinitiv SmartEstimate of 15.2 trillion won, which analysts attributed to items such as employees' bonuses, marketing costs for its mobile business, and ramp-up costs for new display panels being included in the quarter.

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Revenue likely rose 23% from the same period a year earlier to 76 trillion won, the company said in a short preliminary earnings release. Samsung is due to release detailed earnings on January 27.

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Oil Prices Rally On Supply Worries

Oil prices rose on Friday and headed for their biggest weekly gains since mid-December on supply concerns amid escalating unrest in Kazakhstan and outages in Libya.

Investors are also pinning hopes that the Omicron variant of the coronavirus will not significantly impact global oil demand.

Benchmark Brent crude futures jumped 85 cents, or 1 percent, to $82.84 per barrel, while WTI crude futures were up 86 cents, or 1.1 percent, at $80.32.

The upward jump in oil prices reflects the market jitters as unrest escalates in Kazakhstan.

Kazakhstan’s authoritarian leader says he has ordered security forces to “fire without warning”, amid a violent crackdown on anti-government protests.

Kazakhstan produces about 1.6 million barrels of oil per day. Russia has reportedly sent its paratroopers into Kazakhstan to help control a countrywide uprising that erupted after widespread violence.

Elsewhere, the political situation in Libya continues to deteriorate and sideline oil output.

The Omicron coronavirus variant is spreading at a fast speed but there is increasing evidence that it is less severe compared to Delta, especially in those vaccinated.

Gold Flat To Slightly Higher In Cautious Trade

Gold prices were flat to slightly higher on Friday, but were set for their biggest weekly fall since late November after a surprisingly hawkish report from the U.S. Federal Reserve.

Spot gold was little changed at $1,791.51 per ounce after two days of losses, putting it on course for a weekly off of about 2 percent. U.S. gold futures were up 0.1 percent at 1,791.40.

The dollar is set to notch up a fifth consecutive weekly gain on the Japanese yen after minutes from the Fed’s December meeting indicated that officials are ready to aggressively dial back policy help.

Amid growing concern about inflation and a very tight job market, Fed officials said that a reduction in the balance sheet likely will start sometime after the central bank begins raising interest rates.

Investors now await the release of the U.S. Labor Department’s closely-watched monthly jobs report out later in the day, which would give further indication on how soon the central bank may raise rates.

Economists expect employment to jump by 400,000 jobs in December after an increase of 210,000 jobs in November. The unemployment rate is expected to edge down to 4.1 percent from 4.2 percent.

Column: Buzz around the NFL is Chicago Bears GM Ryan Pace will stay — possibly with a promotion — while coach Matt Nagy will be fired – The Denver Post

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Economy estimated to grow at 9.2% in 2021-22, says government data

The growth is only due to improvement in the performance of agriculture and manufacturing sectors.

The Indian economy is estimated to grow at 9.2% in 2021-22, as against a contraction of 7.3% in the previous fiscal, mainly due to improvement in the performance of agriculture and manufacturing sectors, the National Statistical Office (NSO) said on Friday.

Releasing the first advance estimates of National Income for 2021-22, the NSO stated, “The growth in real GDP during 2021-22 is estimated at 9.2% as compared to the contraction of 7.3% in 2020-21.”

“Real GVA at Basic Prices is estimated at ₹135.22 lakh crore in 2021-22, as against ₹124.53 lakh crore in 2020-21, showing a growth of 8.6%,” it added.

Shell Issues Update To Q4 Outlook; Remaining Proceeds From Permian To Be Distributed As Buybacks

Royal Dutch Shell plc (RDS-B,RDSB.L,RDSA.L,RDS-A) issued an update to the fourth quarter 2021 outlook. Also, the Group noted that remaining $5.5 billion of proceeds from the Permian divestment will be distributed in the form of share buybacks at pace. The Permian related distributions are in addition to the distributions of 20-30% of cash flow from operations as per existing capital allocation framework.

The Group stated that cash flow from operations, excluding working capital, at Integrated Gas is expected to have significant outflows from variation margin impacts on the back of the prevailing gas and electricity price environment. Oil Products CFFO excluding working capital is expected to be impacted by around $1 billion of outflows due to the timing of payments relating to emission schemes on product sales in Europe and North America. Corporate segment adjusted earnings are expected to be a net expense of $900 to $1.00 billion for the fourth quarter.

Production is expected to be between 910 and 950 thousand barrels of oil equivalent per day at Integrated Gas. Upstream production is expected to be between 2,150 and 2,250 thousand barrels of oil equivalent per day. Oil Products sales volumes are expected to be between 4.0 and 5.0 million barrels per day. Chemical sales volumes are expected to be between 3,300 and 3,600 thousand tonnes.