Posts by Mark Darwin
Moody’s raises full-year profit forecast above estimates on strong product demand
RATINGS agency Moody’s raised its full-year adjusted profit forecast above Wall Street estimates and posted a nearly 31 per cent rise in third-quarter earnings on Tuesday (Oct 22), on strong demand for its research and analytics products. Growing expectations of a soft landing for the US economy as the Federal Reserve began its rate cut…
Read MoreUOI profit before tax down 2% to S$22.1 million amid fall in net insurance service and financial results
Its insurance revenue is 14% up to S$79.4 million; other income is 8% higher to S$10.3 million UNITED Overseas Insurance (UOI) posted a profit before tax of S$22.1 million for the nine months ended Sep 30, down 2 per cent from the S$22.5 million in the corresponding period last year. The dip came from a…
Read MoreASML chief sees US pressure building for more China restrictions
ASML Holding chief executive officer Christophe Fouquet expects pressure will grow from the US to further restrict sales of semiconductor technology to China, the biggest market for the Dutch producer of chipmaking machines. “If you look at the geopolitical landscape, I think it’s clear that the US will continue to apply pressure on their allies…
Read MoreFrance’s Wendel to acquire Monroe Capital for US$1.13 billion
The French company will also invest US$1 billion to support the US firm’s growth, which will retain its brand and continue to operate autonomously FRENCH investment company Wendel will acquire US asset investment firm Monroe Capital, it said on Tuesday (Oct 22), with an initial investment of about US$1.1 billion for 75 per cent of…
Read MoreChina’s Horizon Robotics raises HK$5.4 billion in biggest Hong Kong IPO of 2024
CHINESE autonomous driving firm Horizon Robotics has priced its shares at the top of its range to raise HK$5.4 billion (S$913.4 million) according to a term sheet seen by Reuters, making it the biggest Hong Kong initial public offering this year. The company sold 1.355 billion shares in a price range of HK$3.73 to HK$3.99…
Read MoreBrokers’ take: OCBC initiates coverage on PropNex with ‘buy’
OCBC Investment Research has initiated coverage on PropNex with a “buy” call and a fair value estimate of S$0.91. It anticipates that upcoming project launches in the second half of 2024 and first half of 2025, and a potential increase in sales momentum could boost “positive sentiment” towards the real estate agency’s stock. “We believe…
Read MoreAutomakers are mired in first Europe sales slump in two years
CAR sales in Europe fell in September for the first consecutive monthly decline in more than two years as the region’s economy continued to stagnate and consumers trimmed spending. New car registrations fell 4.2 per cent compared to a year ago, to 1.1 million units, the European Automobile Manufacturers’ Association said on Tuesday (Oct 22).…
Read MoreLogitech raises full-year outlook as sales and profit expectations climb
LOGITECH International raised its full-year outlook after a strong performance and a growth in demand in the second quarter, the computer keyboard and mouse maker said on Tuesday (Oct 22). The Swiss-American technology company now expects its full-year sales in the range of US$4.4 billion to US$4.5 billion, up from its previous guidance US$4.3 billion…
Read MoreHoneywell partners with Google to integrate data with generative AI
HONEYWELL has signed a deal with Google to connect artificial intelligence (AI) technology with its industrial data, both companies said on Monday (Oct 21), with a view to offer streamlined autonomous operations for its customers. The partnership will bring together Alphabet-owned Google’s Gemini – its most advanced AI technology – and Honeywell’s industrial data collected…
Read MoreStripe confirms plans to acquire stablecoin platform Bridge
STRIPE co-founder and chief executive officer Patrick Collison confirmed in a X post on Monday (Oct 21) that the payments company plans to buy stablecoin startup Bridge. The deal, first reported by Bloomberg News on Oct 16, is still subject to regulatory approvals and closing conditions. The parties expect to complete the transaction in the…
Read More