Inditex Earnings Beat Estimates as Zara Owner Expands Online
Inditex SA, the world’s biggest clothing retailer, reported earnings that beat analysts’ estimates as the company prioritized online expansion over store openings.First-half operating profit increased 8 percent to 1.61 billion euros ($1.8 billion) in the six months through July, Inditex said Wednesday. Analysts expected 1.58 billion euros. Revenue rose 13 percent in the first weeks of the third quarter, excluding currency shifts, slowing down from growth of 16 percent in the first half. The sto..>> view originalLarry Ellison just spent an hour trashing Amazon's $10 billion cloud
Oracle Executive Chairman Larry Ellison at Oracle Open World '16Julie Bort/Business InsiderLarry Ellison used most of his hour-long keynote session slot at this week's Oracle Open World conference in San Francisco to trash Amazon and its $10 billion Amazon Web Services cloud computing platform. Amazon has emerged as an unlikely rival to Oracle, poaching loads of database customers over to Amazon Web Services. Today, Ellison fired back by detailing in great depth all the ways in which the upgrad..>> view original'You Should Resign': Watch Sen. Elizabeth Warren Grill Wells Fargo CEO John Stumpf
Enlarge this image Sen. Elizabeth Warren questions John Stumpf, chairman and CEO of Wells Fargo, about the unauthorized opening of customer accounts by Wells Fargo during a Senate Banking Committee hearing Tuesday. Saul Loeb/AFP/Getty Images hide caption toggle caption Saul Loeb/AFP/Getty Images Sen. Elizabeth Warren questions John Stumpf, chairman and..>> view originalErnst & Young Was Just Fined $9.3 Million for Inappropriate Client Relationships
Public accounting firm Ernst & Young has agreed to pay $9.3 million to settle charges against three of the firm’s audit partners, the SEC announced Monday. The SEC found that Gregory Bednar, a former senior partner on the engagement team for an unnamed New York-based public company, “maintained an improperly close friendship” with the company’s chief financial officer, thus violating rules that ensure objectivity and impartiality during audits. Bednar reportedly spent close to $100,ooo in trave..>> view originalBOJ Unveils New Framework for Policy: Statement Highlights
The following are excerpts from the Bank of Japan’s policy statement, released Wednesday in Tokyo.New Framework for Strengthening Monetary Easing:"Quantitative and Qualitative Monetary Easing with Yield Curve Control"At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan conducted a comprehensive assessment of the developments in economic activity and prices under "Quantitative and Qualitative Monetary Easing (QQE)" and "QQE with a Negative Interest Rate" as well as th..>> view originalThe SEC Is Investigating Exxon Over Asset Valuations
The U.S. Securities and Exchange Commission is investigating how ExxonMobil has valued its oil reserves in the wake of low prices and potential curbs on carbon emissions, the company said, confirming an earlier report. Wall Street Journal, which first reported the news citing sources, said the regulator sought information from Exxon xom and its auditor, PwC, in August. “We are fully complying with the SEC request for information and are confident our financial reporting meets all legal a..>> view originalMylan CEO set to defend EpiPen prices amid public outcry
FILE - In this July 8, 2016, file photo, a pharmacist holds a package of EpiPens epinephrine auto-injector, a Mylan product, in Sacramento, Calif. Mylan CEO Heather Bresch is defending the cost for life-saving EpiPens and is offering no suggestion that there are plans to lower prices. Bresch’s prepared testimony was released by the House Oversight and Government Reform Committee ahead of her Sept. 21 appearance before the panel. (AP Photo/Rich Pedroncelli, File) The Associated Press By MA..>> view originalZacks Earnings Estimates Of $1.72 For CVS Health Corporation (NYSE:CVS)
Zacks expectation of CVS Health Corporation (NYSE:CVS)’s mean EPS for the year 2017 is $1.72 but with an expectancy of $1.72 for the median EPS. Analysts’ estimates 15 are of importance when calculating the estimate. The calculation of this is on the basis of the reports that 9 research firms issue that about the company that reflects the mean estimate. The highest mean estimate were rated at $1.8 while the lowest meant estimate was at the rating of $1.61. $0.057 still remains the standard d..>> view originalWorld's Biggest IPO This Year Gets Help From Beijing
Photo A man leaving a Postal Savings Bank of China branch in Beijing. The bank’s initial public offering is highlighting the practice of cornerstone investing, where big investors are invited to buy up shares ahead of a company going public. Credit Kim Kyung Hoon/Reuters HONG KONG — China’s biggest banks are struggling with a slowing economy, rising bad debts and shrinking profits.So to raise more than $7 billion in the world’s largest new share sale this year, a stodgy..>> view originalMicrosoft To Buy $40 Billion In Stock -- WSJ
Shutterstock photo By Don Clark and Josh Beckerman Microsoft Corp. announced plans to buy back up to $40 billion in stock and boost its dividend by 8%, the latest in a series of moves by the software giant to share a steady flood of cash with shareholders. The latest repurchase target is the same size as a buyback plan announced in 2013, which the company said Tuesday it expects to complete by the end of this year. Microsoft tends to announce dividend increases in September. The 8% i..>> view original
Sunday, September 25, 2016
Inditex Earnings Beat Estimates as Zara Owner Expands Online and other top stories.
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