Posts by Stephanie Irvin
Zoom projects better-than-expected sales growth on new products
ZOOM Video Communications gave a sales forecast for the current quarter that beat analysts’ estimates as the company expands its suite of products. Revenue will be US$1.16 billion to US$1.17 billion in the period ending in October, the company said on Wednesday (Aug 21). Profit, excluding some items, will be about US$1.30 per share. Analysts,…
Read MoreMicrosoft rejigs reporting on business units, offers clarity on AI benefits
MICROSOFT on Wednesday restructured how it reports results for its business units, moving some search and news advertising revenue under the Azure cloud-computing unit as the tech giant looks to offer investors a clearer picture on AI contributions. The company said revenue from the AI and speech technology services that its Nuance unit offers would now…
Read MoreSGX-listed agri-commodity players post resilient earnings despite dent from forex losses and higher rates
SINGAPORE-LISTED companies in the volatile agri-commodity sector have posted resilient first-half results this year despite foreign exchange losses from weaker regional currencies and elevated interest rates. Meanwhile, analysts expect crude palm oil (CPO) prices to remain firm in the near term. The S&P GSCI Softs index, which measures the performance of all soft commodities weighted…
Read MoreUnited Food says it will be delisted for failing to address issues raised in auditor’s report
Trading in its shares have been suspended since September 2021; the company has also not met criteria to exit watch list UNITED Food Holdings clarified on Wednesday (Aug 21) that Singapore Exchange Regulation (SGX RegCo) would delist it for its failure to address the concerns raised in an Aug 5 special report by its auditors,…
Read MoreUS: Wall St opens slightly higher with payrolls revisions, Fed minutes on tap
Wall Street’s main indexes opened marginally higher on Wednesday (Aug 21), as investors awaited the release of the updated US payrolls data and the minutes from the Federal Reserve’s July policy meeting. The Dow Jones Industrial Average rose 46.1 points, or 0.11 per cent, at the open to 40,881.03. The S&P 500 rose 6.0 points,…
Read MoreUS: Wall Street opens slightly higher with payrolls revisions, Fed minutes on tap
Wall Street’s main indexes opened marginally higher on Wednesday (Aug 21), as investors awaited the release of the updated US payrolls data and the minutes from the Federal Reserve’s July policy meeting. The Dow Jones Industrial Average rose 46.1 points, or 0.11 per cent, at the open to 40,881.03. The S&P 500 rose 6.0 points,…
Read MoreChina’s Didi Global swings to profit in second quarter
CHINA’S largest ride-hailing company, Didi Global, swung to a net profit of 1.4 billion yuan (S$256.5 million) for the second quarter from a 300 million yuan loss a year earlier as it continues to build back its business badly hit by a regulatory crackdown. The company saw revenue rise 4.1 per cent to 50.9 billion…
Read MoreSats leads gains amid market rally; STI up 0.1%
SINGAPORE stocks registered a seven-day winning track on Wednesday (Aug 21). The Straits Times Index (STI) gained 0.1 per cent or 3.45 points to 3,373.76. Across the broader market, gainers were almost even with losers at 266 to 267, with 848.9 million securities worth S$846.4 million having changed hands. The market rally was lead by…
Read MoreHot stock: Sats rises 11% after swinging back into the black for Q1
It posts a net profit of S$65 million for the quarter from a loss of S$29.9 million SHARES of in-flight caterer and ground handler Sats gained some ground on Wednesday (Aug 21) morning, after it swung back into the black for the first quarter of fiscal year 2025 on higher revenue. Sats shares reached a…
Read MoreWalmart is seeking up to US$3.74 billion in sale of JD.com stake
WALMART is seeking to raise up to US$3.74 billion by selling its stake in Chinese e-commerce firm JD.com, sources familiar with the matter said. The US retailer is offering 144.5 million shares in a US$24.85 to US$25.85 price range, the sources said, asking not to be identified because the information is private. Morgan Stanley is…
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