Carlyle's second-quarter earnings double
Carlyle Group LP said on Wednesday its second-quarter earnings doubled from a year earlier as Wed 7:30am Carlyle Group LP said on Wednesday its second-quarter earnings doubled from a year earlier as one of its European buyout funds started paying performance fees, highlighting the growth potential of its private equity business in Europe. While two U.S. buyout funds accounted for more than half of all of Carlyle's performance fees in the quarter, the Washington, D.C.-based private equity firm said its third European buyout fund was now also a contributor. "Europe and Japan are both priced at about 20 percent lower than the United States. Yet private equity dominates its income, accounting for 32 percent of assets under management but 65 percent of its earnings in the quarter.
WellPoint 2Q tops Wall Street expectations
NEW YORK (AP) — WellPoint's second-quarter profit fell 8.6 percent as expenses tied to chanWed 7:29am NEW YORK (AP) — WellPoint's second-quarter profit fell 8.6 percent as expenses tied to changes in the nation's health care laws climbed.
Wall Street up on GDP data; Twitter has biggest jump ever
Gross domestic product grew at a 4 percent annual rate in the second quarter, above the 3 percent ratWed 7:13am Gross domestic product grew at a 4 percent annual rate in the second quarter, above the 3 percent rate that had been expected and a sharp reversal from the weather-impacted first quarter, when the economy contracted a revised 2.1 percent. Twitter Inc surged on heavy volume, jumping 25 percent to $48.25 in its biggest one-day advance ever after reporting that monthly active users had risen a better-than-expected 24 percent in the second quarter. In this rate environment, the market isn't expensive and we're still finding good values," said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas. Market participants shrugged off the ADP National Employment Report, which showed companies hired 218,000 workers in July, a level that was below analysts' projections and was also down from June.
Strong earnings news, US growth lift stocks
NEW YORK (AP) — U.S. stocks are opening higher after several companies reported better earnings Wed 6:58am NEW YORK (AP) — U.S. stocks are opening higher after several companies reported better earnings than investors were expecting.
Charterhouse picks banks for IPO of Germany's Armacell -sources ...
Wed 6:25am FRANKFURT (Reuters) - British buyout group Charterhouse Capital [CHCAP.UL] has picked banks to prepare a stock market listing of its German insulation materials firm Armacell, two people familiar with...
WellPoint medical cost ratio drives 2nd-quarter profit beat
Wed 5:17am U.S. health insurer WellPoint Inc on Wednesday reported a decline in second-quarter profit, but its closely watched medical costs as a percentage of premiums ratio improved and it beat Wall Street estimates. WellPoint, which runs Anthem and Empire Blue Cross Blue Shield Plans, is the third large health insurer to beat analysts' earnings estimates for the quarter but shares have sold off as investors worried that a run in low medical costs might be ending. WellPoint beat Wall Street expectations because this ratio was less than foreseen, Leerink Partners analyst Ana Gupte said in a research note. WellPoint said it spent 82.7 percent of the premiums that it brought in on medical claims in what is known as the medical benefit expense ratio.
ITC shares gain after earnings; valuations seen enticing
Reuters Market Eye - ITC shares gain around 1 percent a day after reporting better-than-expected April-JuWed 2:00am Reuters Market Eye - ITC shares gain around 1 percent a day after reporting better-than-expected April-June profit, with traders saying valuations are especially attractive. The stock trading at 26.4 times 12-month forward earnings compared to an average of 36 times for domestic fast consumer goods makers, Thomson Reuters data shows. (Reporting by Dipika Lalwani)
World Cup helps ITV to first-half earnings beat
By Paul Sandle and Kate Holton LONDON (Reuters) - ITV Plc , the British commercial broadcaster thWed 1:27am By Paul Sandle and Kate Holton LONDON (Reuters) - ITV Plc , the British commercial broadcaster that has caught the eye of pay-TV group Liberty Global Plc , posted a higher-than-expected 11 percent rise in first-half adjusted earnings, helped by the draw of the football World Cup. John Malone's Liberty, owner of British cable TV group Virgin Media, bought a 6.4 percent stake in the broadcaster earlier his month from satellite broadcaster BSkyB . ITV's shares rose as much as 7 percent after the purchase was made public, on speculation it could lead to a full takeover bid, although the U.S. group said it did not intend to make an offer. ITV Chief Executive Adam Crozier said he was not aware of Liberty's ambitions and wouldn't be distracted wondering about them.
Zinc and Zambia weigh on Vedanta's quarterly earnings
Wed 1:21am Lower zinc production and a decline in Zambian copper output weighed on Vedanta Resources Plc (Other OTC: VDNRF - news) 's core quarterly earnings, sending the miner's shares down more than 3 percent. Vedanta bought a controlling stake in Zambia's Konkola Copper Mines (KCM) a decade ago. Core earnings at Vedanta's zinc business also fell. Cairn India Ltd, Vedanta's oil and gas unit, recorded a 1 percent increase in EBITDA for the quarter.
British American Tobacco earnings squashed by sterling, underlying ...
Wed 12:48am Currency headwinds blew earnings per share 12% lower at British American Tobacco in the first half of the year, although underlying profits improved if exchange rates were held steady and management is ...
Vedanta first-quarter core earnings rise marginally
REUTERS - Diversified miner Vedanta Resources Plc ground out a marginal increase in quarterly core earningsWed 12:42am REUTERS - Diversified miner Vedanta Resources Plc ground out a marginal increase in quarterly core earnings as its oil and gas and aluminium businesses offset a decline in its zinc and Zambian copper businesses. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to $1.04 billion for the quarter ended June 30 from $1.03 billion a year earlier. Revenue increased 7 percent to $3.06 billion. (Reporting by Karen Rebelo in Bangalore; Editing by Robin Paxton)
L&T earnings raise 'multiple red flags' - Citi; stock slumps
Reuters Market Eye - Citigroup downgrades Larsen & Toubro Ltd to "neutral" from &quoWed 12:36am Reuters Market Eye - Citigroup downgrades Larsen & Toubro Ltd to "neutral" from "buy", citing "rich" valuations and says Q1 "raises multiple red flags," including lower-than-expected standalone sales and margin details. Earnings "were a warning that investors/analysts need to curb their enthusiasm,” the bank adds. Deutsche Bank also downgrades L&T, to "hold" from "buy", citing concerns about valuations and says large order wins are in the low-margin hydrocarbons sector. L&T falls as much as 7.9 percent, heads for biggest fall since July 2009. (Reporting by Manoj Rawal)