Daily Management Review
Business & Finance

Phillips 66 Profit Beats Estimates Handsomely Due To Boost In Refining Margins

Profit margins from its refining business jumped by almost five-fold because of resurgent demand for motor fuels since rise in the uptake of Covid-19 vaccines and reducing restrictions, which helped Phillips 66 to announce market estimates beating quarterly profits on Friday.   After more...

Daimler's 9-month net profit jumps by almost 73 times

German carmaker Daimler's net profit attributable to shareholders in January-September 2021 rose almost 73 times year-on-year to €10.358 billion after €142 million a year earlier, according to a company press release. Diluted earnings per share stood at €9.68, up from €0.13 in the same period last...

Nokia Beats Market Expectations For Its Profits In The Third Quarter

The operating profits for its latest completed quarter as reported by the Finnish telecom equipment maker Nokia managed to comfortably beat analysts estimates on Thursday as the business continued to stage a turnaround driven by the strong performance of its development investments, updates in its...

Microsoft Nearly Surges Past Apple As The Most Valuable Company Of The World

An upsurge in the stocks of Microsoft on Wednesday nearly dethroned Apple Inc as the most valuable company in the world, just a day prior to the iPhone maker reporting its earnings for its latest completed quarter.   Microsoft's shares rose 4.2 per cent to a record $323.17, driven by strong...

Largest online auction site eBay shows skyrocketing profits

Net profit of the world's largest online auctioneer eBay increased 2.4 times to $11.639 billion in January-September 2021 compared to the same period last year, the company said in a report. Diluted earnings per share were $17.16 for the reporting period, compared with $6.65 a year earlier. The...

Ford's nine-month net profit rises 3.7 times

U.S. auto giant Ford Motor Co.'s net profit attributable to its parent company was $5.655 billion in January-September 2021, up 3.7 times year-on-year, the company said in a report. Diluted earnings per share were $1.4 for the period, compared to $0.38 a year earlier. The company's revenue rose 8.2...

US bookmaker DraftKings turns down purchase of UK rival Entain

US betting company DraftKings said it rejected an offer to buy UK betting and gambling company Entain Plc. "After several discussions with Entain's management, our company has decided that it will not make a detailed offer to buy Entain," said DraftKings head Jason Robins. The talks between...

Google sets 14-year record for quarterly sales

Google reported its biggest sales growth in 14 years and nearly doubled its profits in the third quarter. The company appears to have been little affected by Apple's changes to its iOS app privacy policy, with smaller companies investing in digital advertising aimed at online shoppers. Google...

Tesla’s Market Valuation Surpasses One Trillion Dollars

The United States based electric car maker Tesla is now a trillion dollar company.   This was possible after shares of the company surged and pushed the market cap of the company over the $1 trillion for the first time following the placing of an order for 100,000 Tesla cars by Hertz Global...

North American coal floods China

US and Canadian coal miners are actively increasing their share in China's coking coal market, according to Chinese customs statistics cited by Argus. For the first nine months of 2021, US shipments increased by 870.6% to 7.2 mln tonnes, while Canada increased by 92% to 6.6 mln tonnes. Russian coal...
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