Germany’s United Internet and India’s Motherson Sumi Systems dominate the Sentifi Top Attentions list as the crowd offers plenty of insights about their earnings. United Internet, suffering a writedown in its startup investment notwithstanding, keeps its confidence in the prospects of a return. Motherson expects more growth from key markets that will help its reach target profit. Read on to find the most trending stories on Sentifi.
1/ United Internet: Impairment charge affects quarterly results [613% increase in voices in the last 24h]
An impairment charge wrote down $176.8 million in the German Internet company’s first-quarter earnings, pushing the results into a loss of 27 euro cents a share. The writedown belongs to its investment in the German startup Rocket Internet. That said, it reported sales and profit that beat estimates thanks to 270,000 new customers signing up in the quarter. The upbeat numbers benefited the shares as well with a 4.1% increase in price. The company also stays optimistic about the potential return of its startup investment.
2/ Motherson Sumi Systems: On the right track to target profit [596% increase in voices in the last 24h]
India’s biggest auto parts maker posts excellent earnings for the fiscal fourth quarter as net profit increased 22% to 4.41 billion rupees and net sales rose 8% to 100.7 billion rupees. With expectation of more growth from North America and China, the company is optimistic about being on track to achieve fiscal year 2020 revenue target of $18 billion.
3/ Taylor Wimpey: Announces a new special payout [494% increase in voices in the last 24h]
The housebuilder plans to pay out £1.3 billion in dividends between 2016 and 2018 along with an upgrade in dividend policy. Thanks to a strong demand for property in the U.K., it has a strong order book position that will last for the remainder of the year. It shares enjoyed a 4.7% boost following the news.
4/ Premier Foods Plc: Positive about sales growth for next year on rising sales [419% increase in voices in the last 24h]
With sales rising 1.4% in the current quarter, the U.K. food company takes it as a good sign to increase the revenue forecast to a range of 2% to 4%. This result is a direct benefit of the 10% increase in marketing spending the company employed last year. And it plans to do it again this year to support key brands and it’s hopeful the strategy will take it closer to the next revenue increase.
5/ Coherus Bio: Gains a leg up in drug patent case [414% increase in voices in the last 24h]
The drug company says it has received a favorable ruling in a drug patent case against AbbVie. Specifically, its request for an inter partes review, a process where a validity of a patent is reviewed, has been approved. Its shares increased 15% thanks to the ruling, whereas AbbVie shares fell 3.6%.
6/ Land Securities: Net asset value rises as it warns against Brexit [364% increase in voices in the last 24h]
The U.K.’s biggest listed property developer expects a rise in London office rents as it increases its net asset value. It also maintains its progressive dividend policy. Albeit positivity, the company expresses concern over Brexit as it could lead to business uncertainty, a drop in occupier demand, and a reduction in commitments around new constructions.
7/ Syndicate Bank Ltd: Records net losses for the second consecutive quarter [328% increase in voices in the last 24h]
For the quarter ended in March, the bank posts a net loss of Rs 2158.17 crore, due to a number of reasons. The business growth slowed down to 2%. The credit-deposit ration suffered a marginal decline of 78.9%, nullifying the expanding effort of the bank by adding 64 branches and 59 ATMs in the quarter.
8/ Home Depot: Reports strong first-quarter earnings [327% increase in voices in the last 24h]
Stronger-than-expected demands carried first-quarter net earnings to $1.8 billion from $1.6 billion in the same period last year, Home Depot reports. The company also earned $22.80 billion, above the expectation of $22.35 billion. Strangely enough, its shares sank 3%.
9/ Plains Pipeline: Criminally charged for oil spill [325% increase in voices in the last 24h]
The Houston-based company faces 46 charges after 3,000 barrels of crude oil spilled into Santa Barbara beach in 2015. The criminal proceedings are reported to result in a $2.8 million fine for the company which criticized for inadequate handling of the spill.
10/ Red Robin Gourmet: Shares plummet on revenue miss [308% increase in voices in the last 24h]
12.15% in value is how much the shares of Red Robin lost following a disappointing first-quarter revenue reports. Sales fell 2.6%, and the number of guests fell 4.1%. And even though revenue increased 1.8% to $402.1 million compared to the same period last year, it fell short of analysts’s expectations of $415 million.
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