Breaking Stock Market and Financial News

UPDATE 1-Schlumberger revenue beats on uptick in North America activity, prices

Reuters Us Markets - Fri, 01/20/2017 - 07:20
Jan 20 (Reuters) - Schlumberger NV reported better-than-expected quarterly revenue as oil producers put more land rigs back to work in North America and prices for oilfield services recovered...

Oil services company Schlumberger reports shrinking Q4 loss, down revenue

MarketWatch Market Pulse - Fri, 01/20/2017 - 07:17

Schlumberger Ltd. reported a net loss of $204 million, or a loss of 15 cents per share, for the fourth quarter, after a loss of $1.02 billion, or an 81 cent per-share loss during the same quarter a year ago. Adjusted earnings for the quarter came in at 27 cents per share, in line with FactSet's 27 cents consensus. Revenue hit $7.11 billion, down compared with last year's $7.74 billion, but above FactSet's consensus of $7.07 billion. Though down from last year, revenue in the fourth quarter was up from the previous quarter thanks to the production group segment, which grew 5% due to increased hydraulic fracturing activity in the Middle East and North America, according to Schlumberger Chief Executive Paal Kibsgaard. Shares of Schlumberger have gained nearly 43% in the trailing 12-month period, outperforming the S&P 500 Index , which is up nearly 22% during the same time period.

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BRIEF-Chesapeake Energy says entered into privately negotiated purchase and exchange agreements

Reuters Us Markets - Fri, 01/20/2017 - 07:17
* Chesapeake Energy - as of January 19, 2017, entered into privately negotiated purchase and exchange agreements - sec filing

P&G profit and sales beat Wall Street estimates

Reuters Us Markets - Fri, 01/20/2017 - 07:17
Jan 20 (Reuters) - Procter & Gamble Co, maker of Tide detergent and Pampers diapers, on Friday reported better-than-expected quarterly sales and profit and raised its fiscal 2017 forecast for organic...

BRIEF-Gensource announces closing of $3,000,000 non-brokered private placement

Reuters Us Markets - Fri, 01/20/2017 - 07:15
* Gensource announces closing of $3,000,000 non-brokered private placement Source text for Eikon: Further company coverage:

BRIEF-Access National declares dividend, reports fourth quarter earnings

Reuters Us Markets - Fri, 01/20/2017 - 07:13
* Access National declares dividend, reports fourth quarter earnings

6 people found alive in Italian hotel hit by avalanche

MarketWatch Market Pulse - Fri, 01/20/2017 - 07:02

Six people have been found alive Friday in an Italian hotel that was hit by an avalanche Wednesday, according to multiple media reports. Rescue workers have spoken several times with the survivors, who remain buried under the rubble, said Italian wire service ANSA. The Hotel Rigopiano in the central Abruzzo region was buried in the avalanche Wednesday following a series of earthquakes. At least four people have been confirmed dead, and about 20 are still missing, a BBC report said. Two people were rescued from the hotel Thursday, according to ANSA.

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General Electric's stock drops as revenue falls below expectation, while earnings match

MarketWatch Market Pulse - Fri, 01/20/2017 - 06:52

Shares of General Electric Co. slipped 0.6% in premarket trade Friday, after the industrial conglomerate reported a fourth-quarter adjusted profit that matched expectations but revenue that fell short. Earnings fell 45% to $3.49 billion, or 39 cents a share, from $6.28 billion, or 64 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 46 cents, matching the FactSet consensus. Revenue declined 2% to $33.09 billion from $33.89 billion, missing the FactSet consensus of $33.94 billion. Revenue from GE's power, renewable energy, oil and gas, healthcare and transportation businesses missed expectations, based on the FactSet consensus, while the aviation and energy connections and lighting businesses beat. Orders rose 4%, or 2% organically including Alstom. GE said it returned $30.5 billion to shareholders in 2016, $22 billion through share buybacks. "We will continue to invest in the Industrial Internet to lead in productivity and performance for our customers in 2017," said Jeff Immelt in a statement. The stock has gained 11% year to date through Thursday, while the Dow Jones Industrial Average has climbed 25%.

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Pound drops below $1.23 after U.K retail sales unexpectedly fall

MarketWatch Market Pulse - Fri, 01/20/2017 - 05:29

The pound was pushed below $1.23 Friday after a downbeat update on British retail sales in December. Sterling fell to an intraday low of $1.2283, according to FactSet, after data showed retail sales declined 1.9% in December on a month-over-month basis, the slowest pace of growth since 2012. Analysts polled by FactSet had expected a rise of 0.2% in sales. The pound had traded hands around $1.2327 just before the data arrived from the Office for National Statistics. It's the "sudden slowdown from November that is discouraging and this has dented sentiment around the pound," said Neil Wilson, senior market analyst at ETX Capital, in a note. A consideration of quarterly figures offers "a more even view of the market. But the worry is that consumer sentiment is fickle and based largely on ballooning unsecured debt." U.K. retail sales rose 5.6% in the fourth quarter.

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Thirty people still missing at Italian hotel buried by massive avalanche

Top Reuters News - Fri, 01/20/2017 - 04:53
PENNE, Italy (Reuters) - Rescuers dug all night in deep snow and debris in search of some 30 missing people who were staying in a luxury mountain hotel in Italy when an avalanche struck almost two days ago.

GLOBAL MARKETS-Dollar lower, stocks flat as caution creeps in ahead of Trump inauguration

Reuters Us Markets - Fri, 01/20/2017 - 04:43
* Safe-haven assets in demand, gold set for 4th week of gains

UPDATE 1-ChemChina seeks U.S. anti-trust approval for Syngenta deal

Reuters Us Markets - Fri, 01/20/2017 - 04:41
* Pair have only minor product overlaps (Adds Syngenta comment)

UPDATE 2-China cuts reserve ratios for big 5 banks temporarily amid cash crunch-sources

Reuters Us Markets - Fri, 01/20/2017 - 04:36
SHANGHAI, Jan 20 (Reuters) - China has allowed its five biggest banks to temporarily lower the amount of money that they must hold as reserves to relieve pressure in its financial system as demand...

Washington braces for massive protests as Trump becomes U.S. president

Top Reuters News - Fri, 01/20/2017 - 04:32
WASHINGTON (Reuters) - Tens of thousands of law enforcement officers and miles of barriers were in place in Washington on Friday, as officials braced for hundreds of thousands of people planning to celebrate or protest Donald Trump's inauguration as president of the United States.

UPDATE 1-Russia's economy minister forecasts 2 pct growth if no shocks

Reuters Us Markets - Fri, 01/20/2017 - 04:30
DAVOS, Switzerland, Jan 20 (Reuters) - Russia's economy could grow by 2 percent in 2017 as long as there are no external shocks such as a renewed fall in oil prices, Economy Minister Maxim Oreshkin...

SK E&S imports South Korea's first U.S. shale gas spot cargo - sources

Reuters Us Markets - Fri, 01/20/2017 - 04:19
SEOUL, Jan 20 (Reuters) - South Korean gas and power company SK E&S Co Ltd took delivery of the country's first spot cargo of shale gas imported from the United States early in January, two industry...

FOREX-Dollar dips on Yellen comments as debate over Trump effect deepens

Reuters Us Markets - Fri, 01/20/2017 - 04:18
* Dollar inches down after less hawkish comments by Fed's Yellen

UK finance minister: "open question" if post-Brexit UK will favour EU migrants

Reuters Us Markets - Fri, 01/20/2017 - 04:10
LONDON, Jan 20 (Reuters) - British finance minister Philip Hammond said on Friday it was an "open question" whether migrants from the European Union would enjoy easier access to Britain after Brexit...

BRIEF-Karolinska Development: OssDsign gets FDA clearance for marketing of OSSDSIGN Cranial in USA

Reuters Us Markets - Fri, 01/20/2017 - 04:06
* Its portfolio company OssDsign announces FDA 510(k) clearance for marketing of OSSDSIGN Cranial for sale in USA

BRIEF-By-health's Hong Kong unit to invest in BRC Innovation LP with partners

Reuters Us Markets - Fri, 01/20/2017 - 04:03
* Says its Hong Kong unit plans to invest in BRC Innovation LP with partners

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