cn 2nd quarter results 2020
Posted on: March 23, 2021, by :

CN’s senior officers will review the results and the railway’s outlook in a webcast/conference call starting at 4:30 p.m. EDT today. CN – Canadian National Railway Company, along with its operating railway subsidiaries – serves the cities and ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in North America. For the second quarter of 2020, SINA reported net revenues of $507.7 million, a decrease of 5% compared to $533.1 million for the same period last year. The company will also make 50 million pounds of shares available to its customers as part of a “community offer.”Dual-Class StructureDeliveroo is listing with two classes of shares, which will give Chief Executive Officer Will Shu outsized voting rights for three years. MONTREAL, July 21, 2020 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) will issue its second quarter 2020 financial and operating results today, July 21, 2020 at 4:01 p.m. Eastern Daylight Time (EDT). It comes amid a recovery in supply chains that were disrupted by the COVID-19 pandemic, and follows the ratification of the US-Mexico-Canada Agreement (USMCA) last year that removed the threat of trade tensions that had escalated under former U.S. President Donald Trump. It plans to to invest its proceeds to fuel growth.Deliveroo had gathered enough investor demand to cover the full deal size throughout the price range within hours of opening the book, according to terms seen by Bloomberg News.It is coming to the market at a time when coronavirus restrictions have caused soaring demand for food delivery. A webcast replay will be available after the call ends. CN will webcast the presentation live and furnish slides supporting the officers' remarks via the Investors’ section of its website, www.cn.ca/en/investors. The CFTC has been wading into the crypto space because it considers cryptocurrencies to be commodities under its jurisdiction. His regime has also begun to offload dozens of key state enterprises to private investors in exchange for a share of the revenue or products.While Chavez seized thousands of private companies, the Cisneros family managed to retain control of the businesses they kept in the country. Private Securities Litigation Reform Act of 1995. Activision Blizzard just finished their second-quarter financial results conference call, announcing surpassed expectations with second quarter revenue growing 38% to $1.93 billion. For full REACT, click hereThe lira’s weakness could add to inflationary pressures building in the economy and erode Turkey’s real rate, currently the highest in emerging markets after Egypt’s.“Right now, the bigger question is whether we can avoid a liquidity shock/credit event and whether it makes sense to sell into a market that’s already pricing in quite a bit of risk,” said Ed Al-Hussainy, a senior interest rate and currency analyst at Columbia Threadneedle Investments in New York.Japanese PositionsWhile Turkey’s high nominal rates are a lure for yield hunters, its mercurial inflation and the perception that central-bank policy has been too loose has made the lira one of the most volatile currencies in the world.Among those who find themselves on the wrong side of the trade are Japanese retail investors. It would be the largest ever combination of North American railways by transaction value. Benzinga does not provide investment advice. Long positions made up almost 86% of the total lira-yen positions traded on the Tokyo Financial Exchange on Friday, the most among 14 major currency pairs, based on the latest data compiled by Bloomberg.“We will never know how successful Agbal’s approach could have been, but initial signs were positive,” said Emre Akcakmak, a portfolio adviser at East Capital in Dubai, who anticipates a reversal on some of the recent hot money inflows.“Even when the market stabilizes after a while, investors will have little tolerance, if any, in case the new governor prematurely cuts the rates again,” Akcakmak said. U.S. gold futures fell 0.4% to $1,735.10. Kavcioglu had sought to ease concerns over a sharp selloff in Turkish assets and a pivot from rate hikes to cuts in a 90-minute call on Sunday, in which he told bank CEOs he planned no immediate policy change, a source told Reuters. There is no link between Cisneros Group and Cisneros Corp. or 3B1 Guacamaya, Miguel Dvorak, the COO of Cisneros Group, said in a statement.Back in Caracas, a newly-formed local association for private capital named Venecapital held an event earlier this month entitled: “Venezuela, back on the radar of international investors.”In it, speakers heralded Venezuela as the frontier market with the greatest potential, saying those who seize opportunities in the nation aren’t sitting around waiting for the regime change that never seems to come. The orders were made between January 2015 and September 2018, the commission said. CNH Industrial ended the quarter with strong available liquidity of $11.5 billion. Kumar Jain, owner of U.T. JJ Ruest, CN’s president and chief executive officer, will lead the call. Progress in vaccine rollouts across the U.K., Deliveroo’s biggest market, threatens to lead to a drop in at-home dining later this year. Second Quarter and First Half 2020 Accomplishments Revenue in the second quarter was $3.2 billion, and net service revenue 2 decreased by 1% on an organic basis 3, reflecting stable performance in the Americas segment and a decline in the International segment. Due to lower costs for customers, battery-powered trucks are bound to prevail over those using hydrogen fuel cells, which largely will be restricted to niche markets, he said. The commission said similar concerns were behind the other example it cited. “Regardless, one thing is clear: with clear line of sight to greater results and a bright future, selling for a paltry price is not the best outcome for shareholders.”Tarsadia is not alone in its views.Another top-ten holder, Hawk Ridge Capital Management, which owns roughly a 2% stake in Extended Stay, plans to vote against the deal as well. Why It Matters: The action supports claims made by cryptocurrency-skeptics that wash trading and similar practices give an artificially inflated appearance of interest or activity in a given digital asset. Its plans to take on Tesla for EV leadership set off a buying spree among U.S. retail investors and surge in trading volume for its ADRs.Rokossa sees a good chance VW’s EV deliveries surpass Tesla’s in short order as its ID.4 compact SUV is rolled out globally. Retail investors in South Korea are amassing bullion while Chinese demand drove sales higher over the Lunar New Year. GAAP diluted EPS for the second quarter 2020 included an excess tax benefit of $12 million ($0.04 per share) related to stock options exercised during the quarter. An earlier version of this story corrected the spelling of a company name in the headline. They lifted their price target for VW shares by 46% to 270 euros.VW’s common stock surged as much as 14% and its preference shares rose as much as 8.4% in Frankfurt, while its American depositary receipts climbed in New York. The new limit for schools is 3 feet. At the same time, inventory has been tight and that’s driving up prices.But concerns are beginning to mount. Group EBITA* was NOK 27 million compared to NOK 51 million for the same period last year. See more from BenzingaClick here for options trades from Benzinga3 Stocks To Go With Your National Corn Dog Day And March Madness FestivitiesFamily Of Texas Roadhouse Founder And CEO Kent Taylor Says Death Was Result Of Suicide© 2021 Benzinga.com. “But you also have to be an investor with high appetite for risk, willing to dip your toes in the water.”The 3B1 Guacamaya fund operates in the same Coral Gables, Florida, headquarters as Cisneros Corporation, a consulting service with “young, modern and creative professional leadership” founded by brothers Eduardo, Andres and Henrique, according to its website.The fund acquired a majority stake in publicly-listed paint maker Corimon CA. (Updates with American depositary receipts rising in the third paragraph. The appointment of Sahap Kavcioglu, a former banker and ruling party lawmaker, in the early hours on Saturday marked the third time since mid-2019 that Erdogan has abruptly fired a central bank chief. The demand for physical gold may stem the slide in prices that have been pummeled by rising bond yields and outflows from bullion-backed exchange-traded funds.When financial investors aren’t buying, “the physical market becomes increasingly important in setting the floor for prices,” said Suki Cooper, a precious metals analyst at Standard Chartered Bank. Today, Venezuelans still drink the family’s Regional beer, use phone and data plans from its wireless provider Digitel and watch its TV station Venevision.Diego Cisneros, a Cuban immigrant who settled in Venezuela, started the business empire in the 1930s.His sons Gustavo and Ricardo -- who’s Eduardo’s father -- took control of the organization in 1970, and in the 1980s, the clan began an expansion outside of its home market, buying up U.S.-based sports equipment and baby product maker Spalding & Evenflo and a stake in the Spanish-language broadcaster Univision.In 2000, the family made Florida its base for the Cisneros Group and kept expanding across the Americas, first under the leadership of Gustavo and then his daughter Adriana Cisneros. The slides will be posted on the website after the close of markets today. Where’s the Science Behind CDC’s 6-Foot Social-Distance Decree? For more information about CN, visit the Company’s website at www.cn.ca. Back in June, BlackRock lowered the expense ratio of its largest fund -- the $258 billion iShares Core S&P 500 ETF -- to 0.03% in order to match a rival product from Vanguard.“We wanted to be incredibly competitive in the market for that cost-conscious buyer,” Senra said in a phone interview.Prior to the fee cuts, BlackRock’s style ETFs were expensive relative to peers. CN Rail’s second-quarter revenue falls 19% as industrial activity, consumer demand hit by pandemic Eric Atkins Transportation Reporter Published July 21, 2020 Updated July 21, 2020 (Bloomberg) -- Volkswagen AG should keep getting more credit for its battery-powered car strategy that could lead the company to surpass Tesla Inc. in electric-vehicle sales as soon as next year, according to Deutsche Bank.If the market were to apply multiples similar to Tesla and Nio Inc. to VW’s battery-electric vehicle business, it would be worth about 195 billion euros ($230 billion), more than all of the company is worth now, analysts led by Tim Rokossa wrote in a report Monday. It will boost investments in electric technology to 1.6 billion euros by 2025 from 1 billion euros previously and scale back spending on combustion engines.“The future of commercial vehicles won’t be shaped by diesel anymore but by electric trucks,” Traton Chief Executive Officer Matthias Gruendler told reporters. Executives for the company’s Spanish brand Seat said Monday they plan to launch an EV for urban areas in 2025 costing between 20,000 euros and 25,000 euros.VW plans to transform Seat’s factory outside Barcelona into an EV hub with the goal of producing more than 500,000 vehicles there per year, equal to Tesla’s global deliveries in 2020.The truck unit Traton SE is also getting into the mix. Property & Casualty Operations combined ratio for the second quarter was 112.3%. The central bank needs to balance privacy for users with "international consensus" on risk control, the director of the PBoC's Digital Currency Research Institute said. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- A record share of Canadians expect home prices will continue hitting new highs, an exuberance that adds to concern the housing market is entering a speculative bubble.Six in 10 Canadians believe the value of real estate in their neighborhood will increase over the next six months, according to the latest weekly survey by Nanos Research Group for Bloomberg News. The housing rally has been a key driver of new wealth and confidence at a time of great uncertainty, and policy makers will be wary of tampering. He was also one of the key people behind the launch and success of Google Pay in India and helped the payment app's relaunch in the U.S. and Singapore. Agbal’s successor, Sahap Kavcioglu, a columnist and university professor, has been a critic of the recent interest-rate increases enacted under Agbal’s stewardship, including last week’s larger-than-expected hike.“The replacement of the CBRT governor is a major blow to investor confidence in Turkey,” wrote Adam Cole, chief currency strategist at RBC Capital Markets. “The prices have come down a bit and the general worries about the virus have also eased,” she said.Seema joins others in India and Malaysia who are stocking up for weddings and investment. Existing home sales plummeted 6.6% to a seasonally adjusted 6.22 million in February from a month earlier, according to the National Association of Realtors (NAR). BlackRock has been locked in a contest with runner-up Vanguard Group for flows, with the latter winning last year for the first time since 2013. This constituted wash trading and "created the misleading appearance of liquidity and trading interest in Litecoin," the CFTC said in a statement. The company will take investor orders through March 30, with the stock set to start trading the next day, according to terms seen by Bloomberg News.The sale consists of as many as 384.6 million shares, and that amount could be increased by as much as 10% if there’s enough demand. Besides the 1 billion pounds the company aims to raise selling new shares, existing shareholders will also offer stock in the IPO, Deliveroo said, without providing details. Adjusted EBITDA, a non-GAAP measure as defined below, was a loss of $3 million for the second quarter of 2020. (Bloomberg) -- Food-delivery startup Deliveroo Holdings Plc started taking investor orders in a share sale of as much as 1.77 billion pounds ($2.45 billion), marking the largest initial public offering in the U.K. since September.Deliveroo is selling shares at 3.90 pounds to 4.60 pounds apiece, according to a statement Monday, valuing the company at 7.6 billion pounds to 8.8 billion pounds.The offering is the biggest float on the London Stock Exchange since THG Plc’s 1.88 billion-pound offering in September, according to data compiled by Bloomberg. (Updates to add investor comments, CEO’s stake. Second Quarter 2020 Financial Overview Total revenue for the second quarter 2020 was $119.6 million, up 167.5% from $44.7 million for the second quarter 2019, driven by … He also said the bank’s rate-setting meetings will take place according to schedule.Kavcioglu is a professor of banking at Marmara University in Istanbul and a columnist at the pro-government Yeni Safak newspaper. The company hasn’t reported results since 2015. This move is a big blow to these hopes.”Treasury and Finance Minister Lutfi Elvan said Monday that Turkey will continue to stick to free markets and a liberal foreign-exchange regime. That’s down from previous charges that varied between 0.25% and 0.30%. Before Agbal, investors frequently criticized Turkey’s monetary authority as being too quick to undo tightening and too slow to respond to risks, most recently in August 2018, when the lira lost about a quarter of its value.The dismissal “has ignited policy uncertainty and points to institutional challenges, adding risks to financial conditions,” wrote Moody’s Investors Service analysts including Madhavi Bokil and Dima Cvetkova in a note.Some 875 basis points of interest-rate increases since November, including Thursday’s 200 basis-point increase, had helped made the lira the best carry-trade currency this year, bringing foreign capital back into Turkish markets.A “haze of volatility” has returned to Turkish markets, Stephen Innes, chief global market strategist at Axicorp Financial Services Pty Ltd. in Sydney, wrote in a note. A webcast replay will be available after the call ends. The commission said a former Coinbase employee intentionally placed buy and sell orders for trades between Litecoin (CRYPTO: LTC) and Bitcoin on Coinbase's GDAX platform. Corimon’s chief executive officer Esteban Szekely also didn’t respond to calls and messages seeking comment.As limited as the deals have been so far -- names of the other businesses acquired besides Corimon weren’t ascertainable -- Cisneros and Bitar have quickly become the talk of the small, tight-knit community of dealmakers and financiers in leafy eastern Caracas. An expansion, no matter how tepid, would halt a string of seven straight years of economic contraction.“The opportunities for profit are immensely high in the first phase of economic recovery,” said Peter West, an economic adviser at London’s EM Funding. What Happened: The commission on Friday ordered Coinbase to pay $6.5 million over charges of reckless false, misleading or inaccurate reporting, as well as wash trading by a former employee on Coinbase's GDAX platform. That brings the fund in line with the fee on the $68 billion Vanguard Growth ETF.In addition to the sweeping changes, the style funds will also undergo share splits of varying ratios in April. The biggest of the collection, the $2.3 billion iShares Morningstar Growth ETF -- formerly known as the iShares Morningstar Large-Cap Growth ETF -- has an expense ratio of 0.04%, versus 0.25% previously. Underwriting results for the second quarter of 2020 include previously announced net catastrophe losses of $301 million pretax, including $182 million related to COVID-19, $61 million related to civil unrest and $58 million related primarily to severe weather related events. 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