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Autoworkers strike cuts into GM earnings, company sees further loses if walkouts linger

Published Tue, 05 Nov 2024 03:45:17 GMT

DETROIT (AP) — A strike by auto workers against General Motors is expected to cut pretax earnings by $800 million this year, and another $200 million per week after that, the company’s chief financial officer said.And those figures include only factories that are on strike now with less than a third of the company’s workforce on the picket lines, so if more plants are added by the United Auto Workers union, the losses will pile up further, CFO Paul Jacobson told reporters.Those strike are already taking a toll. GM on Tuesday posted net income of more than $3 billion from July through September, down 7% from the same period last year due to lost production from the strike, and also increased warranty costs, Jacobson said. The company also withdrew its previous full-year pretax earnings estimates, citing uncertainty over the length of the strike and how many factories would be shut downHowever, excluding one-time items, GM said made $2.28 per share, handily beating Wall St...

Spotify: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 03:45:17 GMT

LUXEMBOURG (AP) — LUXEMBOURG (AP) — Spotify Technology SA (SPOT) on Tuesday reported third-quarter net income of $70.7 million.On a per-share basis, the Luxembourg-based company said it had profit of 36 cents.The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.The music-streaming service operator posted revenue of $3.65 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $3.61 billion.For the current quarter ending in December, Spotify said it expects revenue in the range of $4.03 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOTSource

Peoples Bancorp: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 03:45:17 GMT

MARIETTA, Ohio (AP) — MARIETTA, Ohio (AP) — Peoples Bancorp Inc. (PEBO) on Tuesday reported third-quarter profit of $31.9 million.The bank, based in Marietta, Ohio, said it had earnings of 90 cents per share. Earnings, adjusted for non-recurring costs, were $1.06 per share.The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.The financial services and products company posted revenue of $146.8 million in the period. Its revenue net of interest expense was $116.9 million, also beating Street forecasts._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEBO at https://www.zacks.com/ap/PEBOSource

2 ships have collided off the coast of Germany and 6 people are missing

Published Tue, 05 Nov 2024 03:45:17 GMT

BERLIN (AP) — Two cargo ships collided in the North Sea off the German coast on Tuesday and six people were missing after one vessel apparently sank, German authorities said.The ships, Polesie and Verity, collided in the early morning about 22 kilometers (14 miles) southwest of the island of Helgoland, Germany’s Central Command for Maritime Emergencies said.One of the ships, the British-flagged Verity, is believed to have sunk. The emergency command said one person was rescued from the water and was being given medical treatment, and rescuers were searching for more. It later said seven people had been on board the ship and six were missing, German news agency dpa reported.The command said the Verity, which was 91 meters (299 feet) long and 14 meters (46 feet) wide, was headed from Bremen, Germany, to the English port of Immingham.The other, bigger ship, the Bahamas-flagged Polesie, remained afloat and had 22 people on board. It was heading from Hamburg to A Coruña, Spain.Vess...

Synchrony: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 03:45:17 GMT

STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — Synchrony Financial (SYF) on Tuesday reported third-quarter net income of $618 million.The Stamford, Connecticut-based company said it had net income of $1.48 per share.The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.The consumer credit company posted revenue of $5.45 billion in the period. Its adjusted revenue was $4.36 billion, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $4.29 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYF at https://www.zacks.com/ap/SYFSource

Banc of California: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 03:45:17 GMT

SANTA ANA, Calif. (AP) — SANTA ANA, Calif. (AP) — Banc of California Inc. (BANC) on Tuesday reported third-quarter net income of $42.6 million.The Santa Ana, California-based bank said it had earnings of 74 cents per share. Earnings, adjusted for non-recurring gains, were 30 cents per share.The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.The banking service and lending company posted revenue of $167 million in the period. Its revenue net of interest expense was $120 million, topping Street forecasts. Three analysts surveyed by Zacks expected $79.6 million.Banc of California shares have decreased 29% since the beginning of the year. The stock has decreased 28% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BANC at https://www.zack...

Armstrong World Industries: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 03:45:17 GMT

LANCASTER, Pa. (AP) — LANCASTER, Pa. (AP) — Armstrong World Industries Inc. (AWI) on Tuesday reported third-quarter earnings of $69.5 million.The Lancaster, Pennsylvania-based company said it had net income of $1.56 per share. Earnings, adjusted for non-recurring costs, came to $1.60 per share.The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.The ceiling and wall systems manufacturer posted revenue of $347.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $331.2 million.Armstrong World Industries expects full-year earnings in the range of $5.05 to $5.15 per share, with revenue in the range of $1.28 billion to $1.3 billion.Armstrong World Industries shares have increased roughly 1% since the beginning of the year. The stock has decreased 14% in the last 12 months._____This story was generated by Automated Insights (http://automat...

Are you a 'low-income' worker in Denver?

Published Tue, 05 Nov 2024 03:45:17 GMT

DENVER (KDVR) — Are you considered "low income" in Denver? Unless you make nearly $32 an hour or more, the answer is yes.That's according to the latest income figures from the U.S. Department of Housing and Urban Development. Each year, HUD calculates an area's median income to identify which lower-earning residents could qualify for subsidized housing. How much do houses cost in Colorado? See the list by county Anyone who earns less than 80% of the AMI is considered "low income" by HUD, with limits varied by household size. In Denver, the current area median income is $86,870 for a one-person household.A one-person household must earn less than $66,300 a year, or about $31.88 an hour, to be in the current low-income range for Denver. That's about $1 more an hour compared to last year when Denverites who made less than $62,600 were included in the low-income range.What's considered low income in Denver?HUD designates someone making 80% of the area median income as "low income." An...

Fatal gunfire erupts in Lauderdale Lakes strip mall

Published Tue, 05 Nov 2024 03:45:17 GMT

Law enforcement officers are investigating a deadly crime after gunfire erupted in a strip mall in Lauderdale Lakes. The incident occurred just after 7 p.m. Monday, along the 4300 block of North State Road 7 when Broward Sheriff’s Office (BSO) deputies responded to the scene. According to officials, deputies found a man who sustained a gunshot wound. Broward Sheriff’s Fire Rescue paramedics pronounced the man dead on the scene. BSO’s Homicide Unit is now investigating this incident. If you have any information on this crime, call Broward County Crime Stoppers at 954-493-TIPS. Remember, you can always remain anonymous, and you may be eligible for a reward of up to $5,000.

Florida Panthers spread hope at Baptist Health Cancer Care in Plantation

Published Tue, 05 Nov 2024 03:45:17 GMT

The Florida Panthers, along with their beloved mascots, embarked on a mission to uplift spirits at the Baptist Health Cancer Care. On Monday, they distributed “Totes for Hope,” bags filled with comforting items to support adults undergoing cancer treatment. The initiative aims to bring ease and comfort to those facing the challenging journey of cancer treatment. “Hopefully today this will be easier for them on this difficult day,” said AutoNation South Florida Market President Benny Dominguez. “Try to keep them occupied you know make them comfortable, as comfortable as we can. And, yeah it was a good day. Nice to meet a few new people,” said Florida Panthers center player Evan Rodrigues. The event is part of AutoNation’s annual “Drive Pink” campaign, a driving force in the fight against cancer. To date, the campaign has successfully raised and donated over $35 million for this crucial cause.