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Standard Motor Products Q4 Adj. EPS Tops Estimates, But Net Sales Miss
Standard Motor Products, Inc. (SMP), an automotive replacement parts manufacturer and distributor, reported Wednesday that net income from continuing operations for the fourth quarter plunged to $8.55 million or $0.39 per share from $20.02 million or $0.89 per share in the prior-year quarter.
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818 days ago
Hong Kong Govt To Hand Out Consumption Vouchers, Cuts Tax
Hong Kong Financial Secretary Paul Chan on Wednesday unveiled consumption vouchers, salaries tax cuts and a new scheme to attract talent as well as investment for the economic revival. In the budget 2023-24, Chan said "I believe that Hong Kong's economy will visibly recover this year, and I remain positive." But the economic recovery is still in its initial stage, he added.
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818 days ago
Allegion Q4 Results Top Estimates; Sees FY23 Earnings Above Market
Allegion plc, a provider of security products and solutions, reported Wednesday higher profit and revenues in its fourth quarter, above market estimates. Further, the company projects fiscal 2023 earnings higher than last year, and above the Street view. John Stone, Allegion president and CEO, said, "... our supply chain actions are achieving positive results..."
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818 days ago
Australian Dollar Falls On Risk Aversion
The Australian dollar dropped against its major counterparts in the European session on Wednesday, amid concerns over the possibility of further interest rate hikes by the Federal Reserve, which may weaken growth outlook.
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818 days ago
Italy Inflation Slows More Than Expected To 10.0%
Italy's consumer price inflation eased more than expected in January, on lower energy and fresh food prices, but core price growth accelerated due to increase in prices across a broad range of goods and services, latest figures from the statistical office ISTAT showed Wednesday. The consumer price index rose 10.0 percent year-on-year following an 11.6 percent increase in December.
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818 days ago
Australia Leading Index Continues To Signal Weak Growth - Westpac
Australia's leading index remained stuck in the negative territory for the sixth successive month in January amid headwinds from global factors, monetary policy and weaker labor work hours, survey results from Westpac showed Wednesday. The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index was largely unchanged in January, rising marginally to -1.04 percent.
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818 days ago
Rio Tinto Stock Dips On Weak FY22 Results, Dividend Cut
Shares of Rio Tinto Plc were losing around 3 percent in the morning trading in London and above 2 percent in pre-market activity on the NYSE after the Anglo-Australian mining giant reported Wednesday weak profit and sales for its fiscal 2022. Further, the company trimmed its dividend for the year and also backed fiscal 2023 production forecast.
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818 days ago
more news
Sensex, Nifty Hit Over Two-week Lows On US Rate Worries
Indian shares tumbled on Wednesday to extend losses for a fourth consecutive session, as rising geopolitical tensions and lingering concerns about the Federal Reserve's rate-hike path dented demand for riskier assets.
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818 days ago
European Shares Slip Into Red On Rate Worries
European stocks fell on Wednesday as rising geopolitical tensions and lingering concerns about the Federal Reserve's rate-hike path dented demand for riskier assets.
The Federal Reserve is scheduled to release the minutes of its latest monetary policy meeting later today, which could shed additional light on the outlook for interest rates.
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818 days ago
FTSE 100 Dips Ahead Of Fed Minutes; Metal Stocks Drag
U.K. stocks fell on Wednesday as investors reacted to a slew of weak earnings updates and looked ahead to the release of minutes from the FOMC February policy meeting later in the day for directional cues.
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818 days ago
CAC 40 Slides On Interest-rate Worries
French stocks fell notably on Wednesday as investors fretted about rising geopolitical tensions and higher interest rates.
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818 days ago
DAX Slips On US Rate Worries
German stocks opened lower on Wednesday to extend losses from the previous session as investors waited for the U.S. Federal Reserve's latest monetary policy meeting minutes due later today to gauge the central bank's rate-hiking path going ahead.
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818 days ago
Asian Shares Decline On Hawkish Fed Bets
Asian stocks fell on Wednesday as investors fretted about the potential for further Federal Reserve tightening and the impact it has on global growth.
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818 days ago
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