News

Corporate Earnings

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Chinese electric vehicle maker BYD Co Ltd,, which is backed by billionaire Warren Buffett, on Monday reported a 162% growth in 2020 net profit as it became a major mask maker amid the COVID-19 pandemic.

BYD reported 4.23 billion yuan ($643.75 million) net profit in 2020, up from 1.61 billion yuan in 2019. That compared with a 4.6 billion yuan net profit estimated by 22 analysts, according to Refinitiv data.


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(Reuters) - GameStop Corp said on Tuesday it may sell new shares this year to take advantage of a more-than 800% run-up since January in the stock price of the U.S. video game retailer at the center of the Reddit rally of “meme stocks.”

GameStop shares gyrated after hours and were last down 12%. The company made the comments about the share offering in a regulatory filing for fourth-quarter earnings which showed GameStop returned to profitability, with 175% growth in e-commerce sales.


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SAO PAULO (Reuters) - Brazil planemaker Embraer on Friday reported a loss of $3.3 million for the fourth quarter, narrowing its losses significantly compared to a year earlier driven by higher deliveries of commercial jets and Super Tucano military planes.

Still, Embraer, the world’s No. 3 planemaker, lost a total of $732 million in 2020, more than double its loss for 2019, due to the pandemic’s crippling effect on air travel.


Kimberly Redmond | Equities.com |

Dollar General Corporation (NYSE: DG) posted earnings on Thursday for the fourth quarter of 2020 that fell short of expectations and issued a downbeat forecast for 2021.

For the quarter, the Tennessee-based discount retailer reported a 24.8% increase in earnings per share of $2.62, compared to a diluted EPS of $2.10 in the fourth quarter of 2019 and missed analyst forecasts of $2.72.


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Rolls-Royce said on Thursday it had extended an exclusive deal to provide engines for the Airbus A350-900 to 2030, cementing its alliance with the European plane maker and deferring a potential challenge from rival General Electric.

Rolls already had a formal exclusive agreement to provide Trent XWB-family engines on the larger A350-1000 wide-body jet, and held what industry sources have described as “de facto” exclusivity on the stronger-selling A350-900 until 2025.


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Italian fashion group Prada’s sales and profits rebounded at the end of last year from a first-half slump due to the coronavirus pandemic, boosted by a strong performance in China and elsewhere in Asia, and the positive trend has carried on into 2021.

Luxury fashion companies have been hit hard by the impact of the crisis on tourism and travel, but an improving backdrop in China, one of the world’s biggest luxury markets, has helped ...


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Campbell Soup Co said on Wednesday it expects current-quarter sales to be pressured due to supply chain disruptions caused by a major winter storm and deep freeze that engulfed several U.S. states.

The soups and snacks maker, which benefited from rising demand for its ready-to-eat or quick-fix meals during the pandemic, said its plant in Texas, where it makes Prego pasta sauces, was closed for two weeks in December.


Kimberly Redmond | Equities.com |

During a time when many retail chains are shuttering locations, Dollar Tree said it plans to open 600 new stores this year in response to continued demand for discount shopping amid the COVID-19 pandemic.

On Wednesday, the company said 400 of the new stores will be Dollar Tree stores, and 200 of the locations will be Family Dollar stores.


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Nordstrom Inc on Tuesday reported better-than-expected revenue for the holiday quarter, aided by a rise in e-commerce sales and growth in its off-price business, Rack.

Pandemic-induced declines in household income and high unemployment rates have led to a spike in demand for affordable clothing. This boosted the off-price business of Nordstrom, which also benefited from a greater shift to online shopping.

Sales at Nordstrom Rack decreased 23% from a ye...


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Kohl’s Corp posted holiday-quarter profit and sales beyond market expectations on Tuesday, as it reined in costs and Americans loaded their online shopping carts with not just essentials but also leisure goods.

As consumers bought everything from leggings and sweatshirts to kitchen electrics, the company’s digital sales surged to account for 42% of net sales in the fourth quarter.

The COVID-19 pandemic ha...