Zomato parent Eternal rallies 10% in early India trading
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
18 minutes ago
- Reuters
Analog chipmaker Texas Instruments forecasts third-quarter revenue above estimates
July 22 (Reuters) - Texas Instruments (TXN.O), opens new tab forecast third-quarter revenue above Wall Street estimates on Tuesday, signaling recovering demand for its analog chips even as U.S. tariff negotiations lead to macroeconomic uncertainty. The company expects revenue in the range of $4.45 billion to $4.80 billion for the third quarter, compared with analysts' average estimate of $4.59 billion, according to data compiled by LSEG.
Reuters
3 hours ago
- Reuters
Law firm Linklaters says US growth fueled record year
July 22 (Reuters) - Linklaters saw a surge in U.S. profits last year, the London-founded law firm said on Tuesday, boosting its global revenue and profits to record highs as it worked to further expand its U.S. business. The firm reported an overall 14% increase in profit before tax to 1.08 billion pounds ($1.46 billion) in its financial year ending April 30. U.S. profits grew by 57%, the largest increase among Linklaters' core markets. Linklaters, which has about 3,000 lawyers globally, is among the large London law firms that have prioritized adding lawyers and winning work in the United States. The firm said it now has more than 50 U.S. partners in its New York and Washington, D.C. offices. Recent hires included a litigation team from Patterson Belknap Webb & Tyler and a finance group from A&O Shearman. Revenue grew by 11% overall to 2.32 billion pounds ($3.13 billion), including a 26% U.S. revenue increase over the prior year. Profit per equity partner jumped by 15% to reach 2.2 million pounds ($2.97 million). U.S. partners worked on some of the firm's large corporate deals, including representing Dow in its agreement in December to sell a 40% stake in some U.S. Gulf Coast infrastructure assets to a fund managed by Macquarie Asset Management for $2.4 billion. ($1 = 0.7418 pounds)
Reuters
4 hours ago
- Reuters
Coca-Cola plans cane-sugar Coke as higher prices boost profits
July 22 (Reuters) - Coca-Cola's (KO.N), opens new tab quarterly estimates beat expectations, the company said Tuesday, boosted by higher prices even as volumes dropped in key markets, while the company said it would introduce a Coke product made with cane sugar in the United States. Higher prices offset slippage in volumes, which fell 1% after rising 2% each in the previous two quarters, largely due to declines in key markets such as Mexico and India, as well as in its Coca-Cola brand in the U.S. Excluding items, the company earned 87 cents per share, beating estimates of 83 cents. Demand for pricey sodas has remained choppy in recent quarters, especially in wealthier countries, with lower-income consumers turning more price-conscious. Food companies are seeking healthier substitutes as they respond to Health Secretary Robert F. Kennedy Jr.'s Make America Healthy Again campaign. Last week, President Donald Trump said Coca-Cola had agreed to use real cane sugar in the U.S. Coca-Cola is looking to use "the whole toolkit available of sweetening options" where there is consumer demand, CEO James Quincey said on a post-earnings call. The company said such a product would "complement" its existing products. Rival PepsiCo (PEP.O), opens new tab, which topped quarterly earnings estimates last week, also said it would use natural ingredients if consumers wanted them. Coca-Cola already sells Coke made from cane sugar in other markets, including Mexico, and some U.S. grocery stores carry glass bottles with cane sugar labeled "Mexican" Coke. While there are some slight differences between cane sugar and corn syrup as sweeteners, experts have said too much of either is not good for consumers. However, the switch to cane sugar will also drive up costs, including significant adjustments to supply chains, industry analysts said. Higher-priced goods might also stretch consumer budgets, as Quincey said North America volumes fell "due to the continued uncertainty and pressure on some socioeconomic segments of consumers." Coca-Cola reiterated that the hit to costs due to "global trade dynamics" remained manageable. About 61% of its revenue comes from overseas markets. The company has said it would look at affordable packaging options such as plastic bottles when Trump imposed a 25% duty on aluminum imports. As of June, tariffs on aluminum imports have hit 50%. The company's comparable revenue rose 2.5% to $12.62 billion in the three months ended June 27, beating estimates of $12.54 billion, according to data compiled by LSEG. Quincey said a boycott-related hit to demand in the U.S. and Mexico was now largely resolved. North America volumes fell in the first half of the year, mostly due to Hispanic consumers in the U.S. and Mexico boycotting Coca-Cola's legacy brands after a viral video of the company laying off Latino staff and reporting them to Immigration and Customs Enforcement (ICE). Reuters in February found no public evidence that the company had reported its migrant employees to ICE. Prices rose 6% overall in the second quarter, led by increases in some inflationary markets. "While (the U.S. cane sugar product launch) made headlines, the real story is that growth was due more to increased price changes and not volumes sold," said Jay Woods, chief global strategist at investment banking firm Freedom Capital Markets. Annual comparable earnings per share is expected to be near the top end of its target of a 2% to 3% rise, helped by a weaker dollar. Coca-Cola Zero Sugar was a bright spot, with volumes jumping 14% on growth across all geographies. Coca-Cola's shares were down 1% at $69.29 in midday trading.
