US Stock Reports, Quotes and News
Girish Madan from Fitch Ratings discusses the rise in profits for Gencos through factors like lower commodity prices and reduced solar module prices. He emphasizes the ongoing shift towards renewable generation in the power sector for enhanced profitability. He says: \”Going forward, we see some push on the renewable as well as on the thermal power generation front.\”
S&P 500 year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to LSEG data on Friday. That is up from 4.3% the day before.
Somnath Mukherjee emphasizes caution in the India market, focusing on growth aspects over undervaluation. Elevated valuations and geopolitical risks warrant careful monitoring. Investor maturity shown through doubling MF folios. Rupee depreciation affects Indian corporate balance sheets. Mukherjee says higher imported commodity prices could magnify via Fx and blunt margin expansion.
Getinge AB (GETI B), a leading global provider of medical technology products and solutions, reported a 5.2% increase in sales for the first quarter of 2024, with a steady organic sales performance despite previous year's high comparative figures from COVID-19 impacts in China. The company's order intake rose by 7.8%, showing organic growth across all business areas and regions.
ServisFirst Bancshares, Inc. (NYSE:SFBS) began the first quarter of 2024 on a positive note, showcasing significant growth in net loans and a robust loan pipeline. The bank's Chief Credit Officer, Henry Abbott, reported an improvement in credit quality, while the Chief Financial Officer, Kirk Pressley, noted the highest net interest income since Q1 of 2023 and an optimistic outlook for the year. The bank is preparing to enter a new market and has strengthened its team with nine new bankers. Despite a rise in non-performing assets, which was attributed to a single credit, ServisFirst remains well-positioned against its competitors in this area. The bank's liquidity position appears solid, with expectations of deposit growth and a lift in yields on earning assets. ServisFirst's customer base is expanding, buoyed by a more optimistic outlook and receding recession concerns.
TOKYO (Reuters) – Japanese retail giant Seven & i Holdings said on Tuesday it wanted to see huge growth for its 7-Eleven convenience store chain globally, and would be accelerating its entry into Europe, Latin America, the Middle East and Africa.
SAP SE (ETR:SAPG) (SAP) reported a robust start to 2024, with its first-quarter earnings showcasing a significant surge in cloud revenue and backlog, alongside a healthy increase in operating profit. The company's cloud revenue climbed by 25% to EUR 3.9 billion, while the current cloud backlog expanded by 28% to a record EUR 14.2 billion. Operating profit rose by 19% to EUR 1.5 billion, reflecting strong performance across various regions and a strategic focus on cloud and AI-driven growth.
(Reuters) – Australian financial conglomerate Macquarie Group (OTC:MQBKY) said on Monday its banking and financial services unit will stop new car loans through direct, broker and novated lease channels in a bid to prioritise growth of home loan and deposit offerings.
As the Q4 FY24 earnings season is going on, Goldman Sachs (NYSE:GS) analysts have recalibrated their projections for the Indian pharmaceutical sector, factoring in a spectrum of variables from monthly sales data to currency fluctuations. Notably, the sector continues to trade at valuations exceeding one standard deviation above its five-year average, largely propelled by the resilience of major players like Sun Pharma (NS:SUN), Cipla (NS:CIPL), and Divi’s Laboratories.
But hope is on the horizon. Profits for the Mag Seven – which also includes Apple, Amazon.com and Nvidia – are forecast to rise 38% in the first quarter from a year ago, dwarfing the overall S&P 500\’s 2.4% anticipated year-over-year earnings growth, according to Bloomberg Intelligence data.
By Roshan Abraham and Harshita Mary Varghese
Liberty Energy (ticker: LBRT) has reported strong financial performance in the first quarter of 2024, with revenue reaching $1.1 billion and adjusted EBITDA standing at $245 million.