Bunzl Plc Q3 Underlying Revenue Up 8.0% – Quick Facts
Bunzl plc (BZLFY.PK,BNZL.L) reported that its Group revenue for the third quarter was up 4.0% at actual exchange rates and 8.8% at constant exchange rates. Underlying revenue rose by 8.0% at constant exchange rates. The Group said sales of the top 8 Covid-19 related products, which are primarily own brand, contributed 17.5% of growth.
Bunzl plc currently anticipates revenue in the second half of 2020 to grow strongly at constant exchange rates and expects a slightly higher second half operating profit margin compared to the prior year.
Bunzl plc said it has recently completed the acquisition of Abco Kovex, a distributor of flexible packaging based in Ireland.
Ford moves Escape SUV production to next year
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Ford Motor Co said on Tuesday it was moving full-scale production of its plug-in Escape sport-utility vehicle to next year as it reviews similar vehicles recalled in Europe.
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"We are moving full scale production of Escape PHEV to the 2021 model year. The first Escape PHEVs will be sold next year," a company spokesman said in a statement.
FORD DEFENDS EMISSIONS DEAL WITH CALIFORNIA AFTER TRUMP CRITICISM
Ford of Europe was recalling 20,500 Kuga plug-in hybrids as seven of the SUVs sold in the region caught fire while recharging, Bloomberg News reported on Tuesday.
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Ford, which builds Escape vehicles at Louisville plant in Kentucky, had first planned their production last spring, but that was delayed to this summer as the COVID-19 pandemic forced the automaker to shut factories.
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(Reporting by Rama Venkat and Vishal Vivek in Bengaluru; Editing by Arun Koyyur)
WPI inflation rises to 1.32% in September
The WPI stood at 0.16% in August.
The wholesale price-based inflation (WPI) rose to 1.32% in September mainly on the back of costlier food articles.
“The annual rate of inflation, based on monthly WPI, stood at 1.32% (provisional) for the month of September, 2020 (over September, 2019) as compared to 0.33% during the corresponding month of the previous year,” government data showed on October 14.
The WPI stood at 0.16% in August.
It was in the negative territory for four straight months — April (-)1.57%, May (-)3.37%, June (-)1.81 % and July (-)0.58%.
Inflation in food articles during the month was at 8.17%, as against 3.84% in August, showed the data from the Commerce and Industry ministry.
Prices of cereals came down with a negative inflation print of 3.91% during the month, while, cost of pulses went up by 12.53%.
Vegetables as a category had inflation at a high level of 36.54% in September, potato price skyrocketed by 107.63% from a year-ago period. However, onions had deflation at 31.64%.
In the manufactured products category, the inflation during the month rose to 1.61%, from 1.27%a month ago, the government data said.
Stock Alert: Gossamer Bio Tanks 33%
Shares of Gossamer Bio, Inc. (GOSS) are down more than 33% Tuesday morning after the company said the phase IIb study of its drug candidate in patients with moderate-to-severe eosinophilic asthma did not meet primary end point and the phase IIa study in patients with chronic rhinosinusitis did not meet primary or secondary endpoints.
The phase IIb study of the company’s investigational drug GB001, dubbed LEDA, conducted on 480 patients with moderate-to-severe eosinophilic asthma did not meet the primary endpoint of asthma worsening, the company said.
Also, in the phase IIa study of GB001, dubbed TITAN in 97 patients with chronic rhinosinusitis with and without nasal polyps, neither the primary nor the secondary endpoints of were met.
“While we did not achieve statistical significance on the primary endpoint in the LEDA Study, we are encouraged by the consistent results observed for all three doses of once-daily, oral GB001 therapy across the primary and secondary endpoints,” said Sheila Gujrathi, M.D., Co-Founder and Chief Executive Officer of Gossamer.
GOSS stock is currently trading at $9.05. It has been trading in the range of $7.52- $27.15 in the past 52 weeks.
PageGroup Q3 Gross Profit Declines – Quick Facts
PageGroup plc (MPGPF.PK,PAGE.L) reported third quarter gross profit of 143.5 million pounds, down 31.9% from prior year. The Group exited the quarter in September at a decline of 26%.
“The improving trading conditions resulted in the Group making a small profit in the quarter, despite an increase in our cost base over second quarter as we returned staff from furlough and to full pay from 1 July,” Steve Ingham, CEO, PageGroup, said.
The Group said it has strong cash position, with approximately 152 million pounds of net cash at the end of September.
PageGroup will publish its fourth quarter trading update on 13 January 2021.
Trump Pleads With Women: ‘Please Like Me.’ Women Fire Back: ‘No Way.’
President Donald Trump on Tuesday begged for suburban women’s support during a campaign event in Pennsylvania.
“Suburban women, would you please like me? Please. Please,” he said. “I saved your damn neighborhood, OK?”
Polls show Trump’s numbers plunging in the suburbs, especially among women. That’s prompted him to repeatedly claim he “saved” the suburbs by scrapping rules that made it easier to build low-income housing. Critics call the comments a racist dog whistle ― a not-so-subtle vow to keep people of color out of the suburbs.
Women ― suburban and otherwise ― were quick to fire back at Trump on Twitter:
We want to know what you’re hearing on the ground from the candidates. If you get any interesting ― or suspicious! ― campaign mailers, robocalls or hear anything else you think we should know about, email us at [email protected]