12th Annual Caribbean Wine & Food Festival Saturday at the Howard County Fairgrounds.
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Markets Defused is an easy-to-understand and straightforward recap of the day’s most engaging business and stock market news.
Lloyds Bank results … here’s what the market says
Lloyds Banking Group PLC (LSE:LLOY) on Thursday saw a dim dip in price after releasing second-quarter results that underwhelmed, without offending.
“Pretty much in line with expectations”, was how one market reporter put it.
Whilst the bank has shown resilience in some areas, including lower-than-expected impairment charges for the motor finance kerfuffle and stable profit margins, the market’s reaction has been less positive.
But what was the market saying? … here, we take a curated look at some of the commentary from the City of London’s talking heads.
Hasbro stock surges as financials beat expectations
Hasbro Inc (NASDAQ:HAS) shares traded higher, gaining around 3%, thanks to positive second-quarter earnings.
Revenue was $995.3 million, easing past market consensus of $941.4 million – albeit, year-over-year the tally is down from $1.21 billion.
At $1.22, earnings per share was substantially better than the 78 cents that Wall Street analysts had anticipated. Net income came in at $138.5 million, compared to a $234.9 million loss a year ago.
The toy and boardgame maker highlighted a particularly strong performance in its digital division, where revenue increased by 20% to $452 million. Revenue in Hasbro’s digital gaming unit rose 20% to $452 million, driven by successful launches such as Modern Horizons 3, Monopoly Go!, and Baldur’s Gate 3.
After the stronger quarterly performance, Hasbro expects to report full year earnings (adjusted EBITDA) between $975 billion and $1.025 billion.
American Airlines shares lifted by revenue silver lining
American Airlines Group Inc (NASDAQ:AAL, ETR:A1G) saw its shares ascend, rising more than 6% as the trading day progressed, after it reported ‘record’ revenue for its second quarter, at $14.33 billion.
That was up 2% year-over-year, but short of consensus market expectations $14.36 billion.
Investors evidently found some silver lining and confidence, because at the same time the airline also today downgraded its full year outlook – with its full-year profit forecast dropping significantly, to between $0.70 and $1.30 per share, from $2.25 to $3.25 per share.
It pointed to a failed sales strategy, that aimed to push volume with cheaper fares rather than prioritise premium-priced business travelers. It resulted in diminished per-seat income and lower-than-expected corporate travel revenue.
AAL shares opened down by more than 5%, and traded as low as $9.78 after the bell, before rallying through morning trade. At $10.75, the stock was up 56 cents or 5.56% for the trading session.
Royal Caribbean shares stall despite soaring cruise revenues
Royal Caribbean Cruises Ltd (NYSE:RCL) shares slipped lower, down close to 4%, despite an upbeat set of financials for its second quarter.
The cruise operator highlighted increased onboard spending and pre-cruise purchases, as well as ‘exceptional demand’ for its ocean-based vacations – strength which it said continues through 2024.
It comes as the Royal Caribbean stock had gained some 32% in the year to date, and is up around 56% for the past year.
Revenue for the quarter was 16.7% higher, at $4.11, comfortably beating Wall Steet forecasts of just over $4 billion. Net income increased to $854 million, from $459 million last year. On a per share basis, this equated to $3.11 versus $1.70 a year ago.
Royal Caribbean brought back its dividend, with shareholder payouts returning for the first time since Covid.
Looking ahead, the company set a more bullish outlook – forecasting full-year profit outlook to $11.35 to $11.45 per share.
In New York, the stock was down $6.57 or 3.99% changing hands at $158 each.
Vodafone traded up after decent financials supported forecasts
Vodafone Group PLC (LSE:VOD) shares traded higher on Thursday, closing up 2.2% at 72p, after the telecoms blue-chip reported a 2.8% rise in first-quarter revenue, to €9.0 billion.
Service revenue experienced organic growth of 5.4%, amounting to €7.5 billion. This growth was driven by strong performances in Africa and Turkey, though the German market saw a decline due to regulatory changes affecting TV service sales.
Elsewhere, Vodafone took a €6.1 billion impairment charge in Europe, primarily in Spain.
The company retained its full-year guidance, which anticipates an underlying cash profit of €11 billion and free cash flow of €2.4 billion.
Vodafone’s chief executive, Margherita Della Valle, highlighted ongoing improvements and the company’s focus on customer experience, business growth, and operational execution in Germany.
British Gas owner sees shares slump after its profits “normalised”
British Gas owner Centrica PLC (LSE:CNA) slumped on Thursday, losing just over 8% to close at 131.54p, after this morning reporting a significant drop in its first half profits.
Earnings (EBITDA) fell to £1.1 billion, down from £2.3 billion during the same period last year.
British Gas, Centrica’s consumer-facing gas business, reported a first-half operating profits of £159 million, versus nearly £1 billion a year ago.
The utility pointed to a ‘normalisation’ of the international energy market, following the elevated levels in period following the war in Ukraine.
Centrica meanwhile increased its interim dividend to shareholders by 13%, to 1.5p, and extended its share buyback program by £200 million.
Chief executive Chris O’Shea, meanwhile, highlighted the company’s strategic investments in data capabilities, product innovation, and customer service, which he said have driven improvements in Centrica’s operational performance.
BT Group trading update failed to inspire much investor confidence
BT Group PLC (LSE:BT.A) shares finished Thursday nearly 1% lower, after the telecoms blue-chip told investors that it had remained on track to deliver its financial outlook for the year.
Also, it said it was sticking with its existing cash flow targets up until 2030.
BT said tight cost controls helped increase earnings in the first quarter, despite a fall in revenue that was in line with expectations.
Looking ahead, it plans to double free cash flow over the next five years.
BT, meanwhile, continues to roll out fibre at apace, but associated increases in revenue have not matched kept up with the rollout.
In London, BT shares closed 1.1p or 0.8% lower at 138.65p.
Lloyds Bank rallied after results wobble
Lloyds Banking Group PLC (LSE:LLOY) finished Thursday in positive territory as investors helped the stock rally, following a weak start to the day.
Earlier, the bank reported a 14% drop in first-half pretax profit to £3.3 billion.
The company said the decline was due to tougher trading conditions and rising costs. Operating costs rose by 7% to £4.7 billion.
Lloyds retained its guidance for the year and said it was confident in meeting its targets.
The bank announced an interim ordinary dividend of 1.06 pence per share, up 15% from the previous year.
The company’s Chief Executive, Charlie Nunn, highlighted the tougher-than-expected environment and pointed to stubborn inflation and a slower economic recovery as key challenges.
Shares were down 3% in early trading , against a broader sell-off in UK stocks, and by the close, Lloyds was up 1.04% at 60.28p.
A Charming Tale of Friendship and Adventure Set in the Welsh Countryside
UNITED STATES, May 24, 2024 /EINPresswire.com/ — Valerie Walker, an acclaimed author of children’s books, proudly announces the release of her latest book, Hedley the Hoglet of Sunbury Farm. Set in the picturesque countryside of Wales, this enchanting story is sure to capture the hearts of young readers and their families.
Hedley the Hoglet of Sunbury Farm is a delightful tale set on an idyllic farm in Wales. The story follows Hedley, one of five hoglets born on Sunbury Farm, who quickly distinguishes himself with his lively curiosity and adventurous spirit. Throughout their first summer, Hedley’s knack for getting into tricky situations keeps his mother and siblings on their toes, but these escapades always lead to happy endings. The narrative also explores the burgeoning friendship and mutual respect between Hedley and James, the 10-year-old grandson of Grandfather Owen. James is captivated by Hedley’s adventurous nature, and Hedley is equally curious about James, laying the foundation for a touching relationship.
Valerie Walker was born in London, England, and has called Calgary home for over 60 years. Hedley the Hoglet of Sunbury Farm serves as a prequel to her beloved 1998 release, The Adventures of Hedley the Hedgehog. Valerie authored two more books about Hedley before venturing into juvenile historical time travel fiction set in Alberta, Canada. She has also penned an adventure novel for young adults, showcasing her versatile storytelling talent.
Valerie Walker’s lifelong fascination with hedgehogs began during a childhood visit to Somerset during the war. There, she befriended a young boy named Hedley from Wales. Together, they would leave milk out for the hedgehogs and watch their delightful antics. This cherished memory, coupled with her husband’s encouragement to write for children, inspired Valerie to craft stories of friendship, respect, and adventure. Through Hedley the Hoglet of Sunbury Farm, Valerie aims to inspire children to use their imaginations, explore nature, and be curious and inquisitive about the world around them, embracing the joy of adventure. You can visit her website www.hedleythehedgehog.com.
Other Books by Valerie Walker
The Adventures of Hedley the Hedgehog
Hedley’s Celtic Adventure
Hedley’s Magical Adventure
Mystery in the Attic
The Quest for Kanaskis
Atticus Publishing LLC
Atticus Publishing LLC
+1 (888) 800-1803
email us here
Valerie Walker’s Spotlight Network TV Interview with Logan Crawford!
Two ‘Pirates of the Caribbean’ movies are still in the works, according to franchise producer Jerry Bruckheimer.
He recently confirmed Disney are planning to “reboot” the film franchise, while talk of a female-centric ‘Pirates of the Caribbean’ movie starring Margot Robbie appeared to have gone cold.
However, the producer has now revealed there are still plans to make both motion pictures, telling Entertainment Weekly: “It’s two different movies.
“We hope to get ’em both made, and I think Disney agrees they really want to make the Margot one, too.”
Last month, Bruckheimer hinted there would be a new cast for the upcoming ‘Pirates’ reboot.
During an interview with Comicbook.com, he was asked whether fans should expect a new ‘Top Gun’ movie before the next ‘Pirates’ instalment, and he explained: “It’s hard to tell.
“You don’t know, you really don’t know. You don’t know how they come together. You just don’t know.
“Because with ‘Top Gun’ you have an actor [Tom Cruise] who is iconic and brilliant. And how many movies he does before he does ‘Top Gun’, I can’t tell you.
“But we’re gonna reboot ‘Pirates’, so that is easier to put together because you don’t have to wait for certain actors.”
Craig Mazin and Ted Elliott have penned the script for a ‘Pirates of the Caribbean 6’ movie.
But last year, Mazin told how he was stunned that Disney signed off on their pitch, because it was a “weird” idea.
He told the Los Angeles Times newspaper: “We pitched it and thought there’s no way they’re buying it, it’s too weird. And they did! And then [we] wrote a fantastic script and the strike happened and everyone’s waiting around.”
The Cincinnati Symphony Orchestra names the new music director conductor Cristian Măcelaru. Cristian is the 14th Music Director in the orchestra’s 129-year history. He succeeds Louis Langree. Cristian begins his five-year term as music director in the 2024-25 season. His first year will be serving as Music Director Designate.A Grammy Award-winning conductor, Cristian currently serves as music director of the Orchestre National de France, Artistic Director of the George Enescu Festival and Competition in Bucharest, Romania and the Chief Conductor of the WDR Sinfonieorchester in Cologne, Germany.In the United States, Măcelaru serves as Artistic Director and Principal Conductor of the Interlochen Center for the Arts’ World Youth Symphony Orchestra. He is also the Music Director and Conductor of the Cabrillo Festival of Contemporary Music in Santa Cruz, California.CSO Board Chair Dianne Rosenberg says, “We are thrilled to announce the appointment of Cristian Măcelaru as the Orchestra’s next Music Director. In addition to his exceptional artistry, collaborative spirit and strong leadership of orchestras around the world, including in the United States, Cristian understands and embraces the Cincinnati Symphony Orchestra’s vision to become the most relevant orchestra in America. We look forward to the CSO’s bright future under Cristian’s leadership.” Cristian has previously worked with many top soloists, such as Yo-Yo Ma, Anne-Sophie Mutter, Julia Fischer and others. He embraces the universal language of music across continents. Along with popular solo artists, Cristian has recorded with major labels such as Decca Classics, Sony Classical and Warner Classics. He has won a Grammy Award for conducting the 2019 Decca Classics recording of Wynton Marchalis’ Violon Concerto with Nicola Benedetti and The Philadelphia Orchestra.The city of Cincinnati is excited to welcome Cristian Măcelaru and happily anticipates his directorial debut at the Cincinnati Symphony Orchestra.
CINCINNATI —
The Cincinnati Symphony Orchestra names the new music director conductor Cristian Măcelaru. Cristian is the 14th Music Director in the orchestra’s 129-year history. He succeeds Louis Langree. Cristian begins his five-year term as music director in the 2024-25 season. His first year will be serving as Music Director Designate.
A Grammy Award-winning conductor, Cristian currently serves as music director of the Orchestre National de France, Artistic Director of the George Enescu Festival and Competition in Bucharest, Romania and the Chief Conductor of the WDR Sinfonieorchester in Cologne, Germany.
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In the United States, Măcelaru serves as Artistic Director and Principal Conductor of the Interlochen Center for the Arts’ World Youth Symphony Orchestra. He is also the Music Director and Conductor of the Cabrillo Festival of Contemporary Music in Santa Cruz, California.
CSO Board Chair Dianne Rosenberg says, “We are thrilled to announce the appointment of Cristian Măcelaru as the Orchestra’s next Music Director. In addition to his exceptional artistry, collaborative spirit and strong leadership of orchestras around the world, including in the United States, Cristian understands and embraces the Cincinnati Symphony Orchestra’s vision to become the most relevant orchestra in America. We look forward to the CSO’s bright future under Cristian’s leadership.”
Cristian has previously worked with many top soloists, such as Yo-Yo Ma, Anne-Sophie Mutter, Julia Fischer and others. He embraces the universal language of music across continents. Along with popular solo artists, Cristian has recorded with major labels such as Decca Classics, Sony Classical and Warner Classics. He has won a Grammy Award for conducting the 2019 Decca Classics recording of Wynton Marchalis’ Violon Concerto with Nicola Benedetti and The Philadelphia Orchestra.
The city of Cincinnati is excited to welcome Cristian Măcelaru and happily anticipates his directorial debut at the Cincinnati Symphony Orchestra.
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