Financial News

Oil Pushes Higher On Dollar Drop

Oil Pushes Higher On Dollar Drop

June 20, 2019 at 10:24 am

Oil prices were higher early on Thursday as the U.S. dollar fell following indications that interest rates will be cut this year, while Middle East tensions rose as Iran shot down a U.S. drone and U.S. inventories fell more than expected. West Texas Intermediate crude for July delivery was last seen up US$1.88 to US$55.64 per barrel while August BrentRead More

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Merrimack Pharma Scraps Sale Plan After Review, Cuts Workforce to Extend Cash Runway

June 1, 2019 at 3:18 pm

Merrimack Pharmaceuticals (MACK) said on Thursday it will restructure the company, including cutting its workforce and the board, to extend its cash runway into 2027 and pay a special dividend following a strategic review that also included a sale of the company. The company said its team worked with potential counterparties, but decided not to move forward because the termsRead More

Wizz Air Net Profit, Revenue Rise in Fiscal 2019 But Margin Drops on Surging Fuel Costs

Wizz Air Net Profit, Revenue Rise in Fiscal 2019 But Margin Drops on Surging Fuel Costs

June 1, 2019 at 3:15 pm

Wizz Air (WIZZ.L), the largest low-cost airline in Central and Eastern Europe, reported early Friday record net profit and sales in the financial year just ended but the operating earnings margin fell as fuel costs climbed. Revenue surged to 2.32 billion euros ($2.58 billion) during the 12 months that ended March 31, from 1.94 billion euros a year ago, theRead More

Softcat Improves Profit Forecast for Fiscal 2019 on ‘Strong’ Growth Across Business Segments

Softcat Improves Profit Forecast for Fiscal 2019 on ‘Strong’ Growth Across Business Segments

May 20, 2019 at 6:15 am

Softcat (SCT.L), a British IT infrastructure product and services provider, on Monday forecast that full-year results will be “slightly ahead” of expectations as the group has continued to perform “well” during the fiscal third quarter. The debt-free company, which grew its interim dividend for the fiscal first half by more than a third, has delivered “strong” year-on-year growth across “allRead More