Gilead Sciences Lifts FY21 Outlook
Biotechnology company Gilead Sciences, Inc. (GILD) on Thursday raised its outlook for fiscal 2021, helped by strong performance in the third quarter.
The company now expects earnings per share between $5.50 and $5.70, higher than the earlier announced $4.70 and $5.05. Adjusted earnings per share is expected between $7.90 and $8.10, compared to the earlier $6.90 and $7.25.
On average, 26 analysts polled by Thomson Reuters expect the company to post earnings of $7.18 per share for the year.
The company expects total product sales for fiscal 2021 to be between $26.0 billion and $26.3 billion, higher than the earlier $24.4 billion and $25.0 billion, while analysts are looking for revenues of $25.12 billion.
Barclays banking DOWN: Customers told they ‘don’t have an account’ with the bank
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Barclays customers have been struggling to get into their account through mobile and online banking as some report the app saying they have no accounts.This is the third time issues like this have arisen for Barclays mobile banking app this month alone with previous outages on the 12 and 18 of October.
Reports include customers not being able to see their accounts or even log in to their mobile banking apps.
This is worrying some users as their cards, accounts and balances have also disappeared from the mobile app if they can log in.
MTU Aero Engines Q3 Profit Surges; Sees FY21 Margin At High End Of Forecast Range, Cuts Revenue View
German aircraft engine manufacturer MTU Aero Engines AG (MTUAY.PK) reported Friday that its third-quarter net income was 87 million euros or 1.62 euros per share, significantly higher than last year’s 16 million euros or 0.28 euro per share.
Adjusted net income was 85 million euros, compared to 58 million euros a year ago.
The adjusted EBIT was 117 million euros, up from 87 million euros a year ago. Adjusted EBIT margin was 11.7 percent higher than 9.5 percent last year.
MTU Aero Engines AG generated revenues of 1 billion euros in the third quarter, higher than 908 million euros last year.
Looking ahead for fiscal 2021, MTU now adjusted EBIT margin is now expected to be around 10.5 percent, which is the upper end of the range forecast to date between 10 percent and 10.5 percent.
The company expects adjusted net income to develop in line with the operating profit.
The company now expects revenue to be between 4.3 billion euros and 4.4 billion euros, compared to previously expected around 4.3 billion euros to 4.5 billion euros.
Gold Dips As Dollar Firms Up
Gold prices were moving lower on Tuesday as the dollar firmed up ahead of key central bank meetings this week.
Spot gold dropped 0.3 percent to $1,802.37 per ounce, while U.S. gold futures were down 0.2 percent at $1,803.80.
The European Central Bank (ECB) is expected to take a dovish stance when it meets on Thursday.
Central bank meetings in Japan and Canada are also scheduled this week.
The U.S. Federal Reserve meets next week and it is likely that the U.S. central bank will announce plans to begin scaling back its asset purchase program.
Elsewhere, money markets are pricing in a rate hike by the Bank of England at its Nov. 4 meeting,
U.K. bond yields continued to surge with the 10-year yield above 29-month highs, boosting demand for the British pound, which hit a new 2021 high against the euro today.
On the economic front, U.S. consumer confidence index for October, new home sales for September, FHFA’s house price index and S&P/Case-Shiller home price index for August will be out in the New York session.
Columbia Sportswear Updates FY21 Outlook
Lifestyle products company Columbia Sportswear Co. (COLM) on Thursday updated its full year 2021 outlook and provided an early commentary for fiscal 2022.
In fiscal 2021, the company now expects net income between $302 million and $319 million. Earnings per share are anticipated between $4.55 and $4.80. This is higher than the earlier estimate of $287-$304 million and earnings per share between $4.30 and $4.55.
Annual sales are expected to rise 21.5-23.0 percent to between $3.04 billion and $3.08 billion. Earlier, sales were expected to rise 25.0-26.5 percent to between $3.13-$3.16 billion from $2.50 billion last year.
On average, 11 analysts polled by Thomson Reuters expect the company to post earnings of $4.65 per share on revenues of $3.17 billion for fiscal 2021. For fiscal 2022, the company expects mid-teens percent or better net sales growth.
Tata Power EV charging stations touch 1000 points
Tata Power has expanded its network of electric vehicle charging stations to over 1000 points across the country. The company has carried out a rapid expansion over the last three months. In July, when Tata Power announced its partnership with HPCL, it just had a little over 500 EV charging stations in about 100 cities.
Tata Power’s charging network is now present in nearly 180 cities and on multiple state and national highways under various business models and market segments. Charging is enabled with the Tata Power EZ charge mobile platform. The company plans to have a base of 10,000 charging stations on highways around the country.
Tata Power has also collaborated with automakers such as Tata Motors, MG Motors India, Jaguar Land Rover and TVS Motor to develop EV charging infrastructures for their customers and dealers. The partnerships with multiple state transport utilities facilitate e-bus charging, furthering the cause of green public transport. Tata Power also actively collaborates with IOCL, HPCL, IGL, MGL and multiple state governments for developing EV Charging Infrastructures (EVCI).
In July, Tata Power and Hindustan Petroleum Corporation Ltd (HPCL) joined forces to provide end-to-end EV charging stations at HPCL’s retail outlets (fuel stations) in multiple cities and on major highways.