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US Navy says Iran seizes Marshall Islands-flagged oil tanker in Gulf of Oman amid tension over Tehran’s nuclear program

Published Wed, 25 Dec 2024 16:54:28 GMT

DUBAI, United Arab Emirates (AP) — US Navy says Iran seizes Marshall Islands-flagged oil tanker in Gulf of Oman amid tension over Tehran’s nuclear program.Source

TowneBank: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

PORTSMOUTH, Va. (AP) — PORTSMOUTH, Va. (AP) — TowneBank (TOWN) on Thursday reported net income of $38.3 million in its first quarter.The Portsmouth, Virginia-based bank said it had earnings of 52 cents per share. Earnings, adjusted for non-recurring costs, were 62 cents per share.The community bank posted revenue of $224.2 million in the period. Its revenue net of interest expense was $184.1 million, which fell short of Street forecasts._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TOWN at https://www.zacks.com/ap/TOWNSource

W.W. Grainger: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

LAKE FOREST, Ill. (AP) — LAKE FOREST, Ill. (AP) — W.W. Grainger Inc. (GWW) on Thursday reported first-quarter net income of $488 million.The Lake Forest, Illinois-based company said it had profit of $9.61 per share.The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $8.57 per share.The seller of maintenance and other supplies posted revenue of $4.09 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $4.06 billion.W.W. Grainger expects full-year earnings to be $34.25 to $36.75 per share, with revenue in the range of $16.2 billion to $16.8 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GWW at https://www.zacks.com/ap/GWWSource

Wall Street stirs as debt ceiling brinksmanship mounts

Published Wed, 25 Dec 2024 16:54:28 GMT

NEW YORK (AP) — The first alarm bells are starting to go off on Wall Street as brinkmanship over raising the U.S. government’s $31.4 trillion debt limit raises worries in financial markets. The stakes are immense. Democrats and Republicans are arguing over whether to raise the cap that’s been set for the U.S. government’s borrowing. It’s a debate that’s happened many times before, each time ending with a default-defying increase.Failure to find a fix would spell disaster for many, not least holders of U.S. debt who wouldn’t get promised payments on time. Economists widely expect a recession to follow and potential chaos in markets. U.S. Treasurys are the foundation of financial markets around the world, on top of which all kinds of other investments set their prices, from stocks to foreign currencies. While U.S. stocks have remained mostly calm through the latest debt-ceiling drama, volatility strategists at Barclays Capital point to another corne...

MasterCard: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — MasterCard Inc. (MA) on Thursday reported first-quarter net income of $2.36 billion.On a per-share basis, the Purchase, New York-based company said it had profit of $2.47. Earnings, adjusted for non-recurring costs, came to $2.80 per share.The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.The processor of debit and credit card payments posted revenue of $5.75 billion in the period, which also beat Street forecasts. Twelve analysts surveyed by Zacks expected $5.63 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MA at https://www.zacks.com/ap/MASource

Independent Bank: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Independent Bank Corp. (IBCP) on Thursday reported first-quarter earnings of $13 million.The bank, based in Grand Rapids, Michigan, said it had earnings of 61 cents per share.The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.The bank holding company posted revenue of $64.5 million in the period. Its revenue net of interest expense was $49 million, which fell short of Street forecasts._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBCP at https://www.zacks.com/ap/IBCPSource

Seattle Genetics: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

BOTHELL, Wash. (AP) — BOTHELL, Wash. (AP) — Seattle Genetics Inc. (SGEN) on Thursday reported a loss of $174.7 million in its first quarter.On a per-share basis, the Bothell, Washington-based company said it had a loss of 93 cents.The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 82 cents per share.The biotechnology company posted revenue of $519.7 million in the period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $520.9 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SGEN at https://www.zacks.com/ap/SGENSource

Medical Properties: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

BIRMINGHAM, Ala. (AP) — BIRMINGHAM, Ala. (AP) — Medical Properties Trust Inc. (MPW) on Thursday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.The Birmingham, Alabama-based real estate investment trust said it had funds from operations of $222.2 million, or 37 cents per share, in the period.The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 37 cents per share.Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.The company said it had net income of $32.8 million, or 5 cents per share.The health care real estate investment trust, based in Birmingham, Alabama, posted revenue of $350.2 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $352 million.Medical Properties expects full-year funds from operations in the range of $1.50 to $1....

Review: ‘The Eight Mountains’ is a luminous, gentle stunner

Published Wed, 25 Dec 2024 16:54:28 GMT

Seasons and years blow through the high Alpine peaks of the decades-spanning “The Eight Mountains.” But a warm, abiding glow persists throughout this tender, even restorative epic of male friendship. The film, by Belgian filmmakers Charlotte Vandermeersch and Felix van Groeningen, is a stunning, often profound and frequently jaw-droppingly gorgeous tale of two friends from childhood through adulthood set against the Italian Alps. Vast and intimate at once, their luminously languid adaptation of Paolo Cognetti’s bestseller reaches sublime heights. “The Eight Mountains,” which last year won the jury prize at the Cannes Film Festival, isn’t hurried. The ebbs of its two-and-a-half hours are sometimes a little too placid. But the passage of time — what changes, what endures — is much the subject of the movie. Just as the film’s near-sole setting — a remote mountain cabin beneath the peaks of northwestern Italy — beckons Pietro (Luca Marinelli) and Bruno (Alessandr...

Mobileye: Q1 Earnings Snapshot

Published Wed, 25 Dec 2024 16:54:28 GMT

JERUSALEM (AP) — JERUSALEM (AP) — Mobileye Global Inc. (MBLY) on Thursday reported a loss of $79 million in its first quarter.The Jerusalem-based company said it had a loss of 10 cents per share. Earnings, adjusted for amortization costs and stock option expense, were 14 cents per share.The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.The maker of driver-assistance systems and autonomous driving technologies posted revenue of $458 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $457.5 million.Mobileye expects full-year revenue in the range of $2.07 billion to $2.11 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBLY at https://www.zacks.com/ap/MBLYSource