Ahead of quarterly earnings, Rumit Dugar, Analyst, IT, Telecom & Media, Religare Capital Markets, says wage hikes and currency appreciation may hurt Wipro's results.» Read More
"Results were better than expected, with solid operating results in coal and copper," RBC Capital Markets analyst Fraser Phillips said in a note to clients. Teck cut its 2014 copper cost forecast to between $1.95 and $2.05 per pound from $2.00 to $2.20 a pound.
BANGALORE, July 24- Wipro Ltd, India's third-biggest software services exporter, forecast strong revenue growth on the back of higher outsourcing spending by overseas clients and said it was focussing on winning more deals in Europe.
July 24- Shares of radio station operator Townsquare Media LLC fell as much as 7 percent in their market debut, valuing the company at about $172 million. The Greenwich, Connecticut- based company's IPO raised about $91.3 million, after its offering of 8.3 million Class A shares was priced at $11, below its expected price range of $14- $16.
Europe cruises account for 22 percent of the capacity in the company, whose cruise lines include Royal Caribbean International, Celebrity Cruises and Azamara Club Cruise. Royal Caribbean, which in April warned of pressure in its biggest market, the Caribbean, said the environment in the region remained "promotional".
July 24- Dunkin' Brands Group Inc cut its full-year forecasts on Thursday, as its U.S. Dunkin' Donuts shops battled fierce competition from fast-food rivals like McDonald's Corp and as high milk prices softened profits from its international Baskin-Robbins ice cream business.
July 24- Shares of Facebook Inc hit a record high on Thursday after a surge in mobile advertising revenue helped the world's No. 1 social network trounce analysts' expectations for quarterly profit and revenue.
July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, reported a 23 percent slump in third-quarter profit, hurt by an impairment charge, mainly on properties in the weak Chicago market. D.R. Horton reported a 15 percent drop in home deliveries in both the Midwest and the Southwest in the quarter ended June 30.
July 24- Wal-Mart Stores Inc replaced its U.S. business head Bill Simon with Asia chief Greg Foran to turn around its largest business, where sales have been sluggish for at least a year. Wal-Mart shares fell 1 percent in early trading on the New York Stock Exchange.
July 24- Questcor Pharmaceuticals Inc posted a 39.5 percent rise in quarterly profit, helped by strong sales of multiple sclerosis drug Acthar. The company's net income rose to $96.4 million, or $1.54 per share, in the second quarter ended June 30, from $69.1 million, or $1.12 per share, a year earlier. Revenue jumped 51 percent to $278.8 million.
July 24- U.S. weapons maker Raytheon Co reported a 13 percent rise in second-quarter profit, helped by cost cutting and favorable pension adjustments, and maintained its full-year forecast. Raytheon has been expanding its presence in Europe, Asia and the Middle East and beefing up its global supply chain in the face of tightening U.S. defense budget.
July 24- Sports apparel manufacturer and retailer Under Armour Inc's quarterly revenue rose by than a third as it benefited from growing interest in fitness among women and young people, and the company raised its full-year sales forecast.
July 24- Celgene Corp posted a 25 percent rise in quarterly profit, beating the average analyst estimate by a cent, helped by robust sales of its flagship cancer drug, Revlimid. The U.S. biotechnology company also raised its 2014 adjusted earnings outlook to $3.60- $3.65 per share, from $3.50- $3.60, and revenue forecast to $7.60 billion from $7.50 billion.
July 24- Royal Caribbean Cruises Ltd, the world's second-largest cruise operator, reported a big jump in quarterly profit as demand for its European cruises rose and passengers spent more onboard.
July 24- Wal-Mart Stores Inc said Greg Foran, the head of its Asia business, would now lead its struggling U.S. business. Foran, who replaces Bill Simon, will take over his new role on Aug. 9, the company said. Wal-Mart's U.S. same-store sales have remained sluggish for at least a year.
BANGALORE/ MUMBAI, July 24- Wipro Ltd, India's third-biggest IT services exporter, posted a 29.6 percent rise in fiscal first-quarter profit and forecast a surge in revenue on the back of stronger spending on outsourcing by overseas clients.
July 24- Union Pacific Corp, the largest publicly traded U.S. railroad, reported a 17 percent rise in quarterly profit, mainly due to higher shipments of agricultural products and coal. Coal is Union Pacific's largest cargo in terms of volumes. Union Pacific has benefited from a rise in grain shipments meant for export to Mexico and China.
July 24- Shares of Facebook Inc were set to open at a record high on Thursday after a surge in mobile advertising revenue helped the world's No. 1 social network trounce analysts' expectations for quarterly profit and revenue. At least 18 brokerages raised their price targets on the stock, by as much as $15 to a high of $100.
July 24- Canada's largest grocer Loblaw Cos Ltd's quarterly profit handily beat analysts' expectations, helped by strong pharmacy sales in its recently acquired Shoppers Drug Mart. Sales at Shoppers accounted for more than a quarter of Loblaw's total sales of C $10.31 billion in the second quarter.
July 24- Union Pacific Corp, the largest publicly traded U.S. railroad, reported a 17 percent rise in quarterly profit, partly due to a rise in shipments at its agricultural products business. Net income rose to $1.29 billion, or $1.43 per share, in the quarter from $1.11 billion, or $1.18 per share, a year earlier. Total revenue rose 10 percent to $6.02 billion.
July 24- Dunkin' Brands Group Inc reported weaker-than-expected U.S. quarterly same-restaurant sales due in part to a cold and rainy start to the spring season, and cut its full-year adjusted profit and sales forecasts.