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Energy sector earnings are expected to be better than they were in the winter, but that’s not saying much.
Rogers profit tops estimates on wireless gains
– theglobeandmail.com
Communications giant reported earnings per share of 77 cents in the latest quarter
Komatsu buying Joy Global in deal valued at about $3.7B
– canadianbusiness.com
NEW YORK, N.Y. – Japan’s Komatsu is buying mining equipment maker Joy Global in a deal worth about $3.7 billion.
Komatsu makes construction, mining, industrial and military equipment.
Joy Global Inc. stockholders will receive $28.30 per share in cash, a 21 per cent premium to the Milwaukee company’s Wednesday closing price of $23.30. Its stock surged more than 17 per cent in premarket trading on Thursday.
Komatsu Ltd. said that it plans to keep Joy Global as a separate subsidiary.
The transaction is targeted to close by the middle of next year. It still needs approval from Joy Global stockholders.
The post Komatsu buying Joy Global in deal valued at about $3.7B appeared first on Canadian Business – Your Source For Business News.
Komatsu makes construction, mining, industrial and military equipment.
Joy Global Inc. stockholders will receive $28.30 per share in cash, a 21 per cent premium to the Milwaukee company’s Wednesday closing price of $23.30. Its stock surged more than 17 per cent in premarket trading on Thursday.
Komatsu Ltd. said that it plans to keep Joy Global as a separate subsidiary.
The transaction is targeted to close by the middle of next year. It still needs approval from Joy Global stockholders.
The post Komatsu buying Joy Global in deal valued at about $3.7B appeared first on Canadian Business – Your Source For Business News.
At the open: TSX edges higher on materials stocks; Wall St. opens flat
– theglobeandmail.com
Markets restrained as investors digest mixed bag of earnings reports
Union Pacific 2Q profit falls 19 per cent as volume slows
– canadianbusiness.com
OMAHA, Neb. – Union Pacific’s second-quarter profit fell 19 per cent as the railroad hauled 11 per cent less freight.
The railroad said Thursday that full-year volumes are likely to fall 6 per cent to 8 per cent because of the soft global economy, strong U.S. dollar and weak consumer demand.
Its shares fell more than 2 per cent in morning trading.
The Omaha, Nebraska-based company reported net income of $979 million, or $1.17 per share. That’s down from $1.2 billion, or $1.38 per share, a year ago.
The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average.
The railroad’s revenue declined 12 per cent to $4.77 billion. Five analysts surveyed by Zacks expected $4.79 billion.
Union Pacific said shipments slowed in every category except agricultural goods. Coal again led the declines with a 21 per cent drop in shipments.
The railroad cut expenses 11 per cent to $3.1 billion in the quarter in response to the slower volume. Union Pacific’s workforce is down 12 per cent from last year, and it has stored 14 per cent of its locomotives as it works to improve efficiency…
The railroad said Thursday that full-year volumes are likely to fall 6 per cent to 8 per cent because of the soft global economy, strong U.S. dollar and weak consumer demand.
Its shares fell more than 2 per cent in morning trading.
The Omaha, Nebraska-based company reported net income of $979 million, or $1.17 per share. That’s down from $1.2 billion, or $1.38 per share, a year ago.
The 14 analysts surveyed by Zacks Investment Research predicted earnings of $1.17 per share on average.
The railroad’s revenue declined 12 per cent to $4.77 billion. Five analysts surveyed by Zacks expected $4.79 billion.
Union Pacific said shipments slowed in every category except agricultural goods. Coal again led the declines with a 21 per cent drop in shipments.
The railroad cut expenses 11 per cent to $3.1 billion in the quarter in response to the slower volume. Union Pacific’s workforce is down 12 per cent from last year, and it has stored 14 per cent of its locomotives as it works to improve efficiency…
