×

Wires

  • CAPE TOWN, Oct 24- Nigeria is targeting oil production of 1.8 million barrels per day by early next year but that will be the ceiling to comply with OPEC targets its oil minister said in Tuesday. Emmanuel Ibe Kachikwu also told reporters at an oil conference in Cape Town that oil prices were encouraging but OPEC, of which it is a member, was not ruling out further cuts.

  • DETROIT, Oct 24- General Motors Co posted a stronger than expected pre-tax profit for the third quarter before related to the sale of its European operations, and shares jumped as GM reaffirmed its full-year earnings outlook and a promise to slash stocks of unsold vehicles. The No. 1 U.S. automaker said it expects U.S. vehicle sales to remain stable at an annual pace...

  • DUBAI, Oct 24- Plans for an initial public offering in state-owned energy giant Saudi Aramco have never been linked to developments in the oil market, its chief executive told Al Arabiya television on Tuesday. "There is no doubt, oil market stability is very important and Saudi Arabia has a leading position in the oil market." Aramco's petrochemicals output is...

  • BELLEVUE, Wash. _ Paccar Inc. on Tuesday reported third-quarter net income of $402.7 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share. Six analysts surveyed by Zacks expected $4.6 billion.

  • FARMINGTON, Conn. _ United Technologies Corp. on Tuesday reported third-quarter earnings of $1.33 billion. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share. United Technologies expects full-year earnings in the range of $6.58 to $6.63 per share, with revenue in the range of $59 billion to $59.5...

  • MANCHESTER, United Kingdom _ Pentair PLC on Tuesday reported third-quarter profit of $125.4 million. The Manchester, United Kingdom- based company said it had profit of 68 cents per share. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

  • *Japan's Nikkei extends 16- day winning streak. LONDON, Oct 24- Benchmark bond yields cranked higher on Tuesday, as data from top euro zone economies bolstered the case for a cut to ECB stimulus and results from Caterpillar pointed to robust global construction growth. Treasuries climbed to their highest level since May as another dump of big name company...

  • *Saudi determined to end oil glut, sees smooth exit for OPEC pact. LONDON, Oct 24- Oil rose towards $58 a barrel on Tuesday after top exporter Saudi Arabia said it was determined to end a supply glut, while prices also drew support from forecasts of a further drop in U.S. crude inventories. The Saudi energy minister said the focus remained on reducing oil stocks in...

  • LONDON, Oct 24- The price of copper hit a one-week high on Tuesday while other metals also gained as the dollar dipped and investors remained optimistic about global econmomic growth prospects, though risks of a slowdown remained, especially in top consumer China. "We see an oversupplied copper market next year partly driven by a slowdown in China on the property...

  • CHATTANOOGA, Tenn. _ Astec Industries Inc. on Tuesday reported a third-quarter loss of $2.7 million, after reporting a profit in the same period a year earlier. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 12 cents per share. Five analysts surveyed by Zacks expected $262.3 million.

  • TINTON FALLS, N.J. _ Two River Bancorp on Tuesday reported third-quarter net income of $2.2 million. The bank, based in Tinton Falls, New Jersey, said it had earnings of 26 cents per share. Two River Bancorp shares have risen 42 percent since the beginning of the year.

  • FRANKFURT, Oct 24- Germany's Siemens AG has mandated Goldman Sachs, Deutsche Bank and JP Morgan as global coordinators for an initial public offering of shares in its Healthineers unit, sources familiar with the matter said on Monday. Siemens confirmed it had awarded mandates to banks to float the medical equipment unit, but declined to name them.

  • NEW YORK _ JetBlue Airways Corp. on Tuesday reported third-quarter earnings of $179 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share. JetBlue shares have dropped 11 percent since the beginning of the year.

  • NEW DELHI, Oct 24- The Indian government approved on Tuesday a state bank recapitalization plan of 2.11 trillion rupees over the next two years, in a bid to clean banks' books and revive investment in a slowing economy. Of the planned sum, recapitalization bonds will account for 1.35 trillion rupees, while 760 billion rupees will come from budgetary support and...

  • LONDON, Oct 24- The New Zealand dollar was the biggest mover in relatively stable trade in G10 currencies on Tuesday, falling to a five-month low after the incoming Labour government outlined its policies. "It has had a negative effect on the Kiwi because having a dual mandate is likely to keep the Reserve Bank of New Zealand a lot more dovish than it currently is.

  • DOWNINGTOWN, Pa. _ DNB Financial Corp. on Tuesday reported net income of $2.4 million in its third quarter. The Downingtown, Pennsylvania- based bank said it had earnings of 56 cents per share. DNB Financial shares have risen 17 percent since the beginning of the year.

  • MILAN— Italy's largest bank, UniCredit, has released earnings figures two weeks early after acknowledging that it had erroneously disclosed some data. UniCredit said the figures show operating income fell 4 percent to 4.6 billion euros, while net interest income dropped 3.5 percent to 2.5 billion euros and net fees and commissions rose 4.2 percent to 1.6...

  • FORT WAYNE, Ind. _ Franklin Electric Co. on Tuesday reported third-quarter net income of $24.5 million. The Fort Wayne, Indiana- based company said it had profit of 52 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

  • LONDON, Oct 24- Britain's markets watchdog said it has opened an investigation into the hacking of U.S. credit reporting agency Equifax, which affected nearly 700,000 UK citizens. "The Financial Conduct Authority announces today that it is investigating the circumstances surrounding a cybersecurity incident that led to the loss of UK customer data held by...

  • OAK BROOK, Ill. _ McDonald's Corp. on Tuesday reported third-quarter earnings of $1.88 billion. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share. Eight analysts surveyed by Zacks expected $5.8 billion.