Genuine Parts Company reported earnings per share of $1.17, $0.04 less than the Street consensus but $0.09 better than year-ago EPS. The Street was expecting better performance from Genuine Parts’ office products and electrical wholesale operations. With the automotive group performing well and our expectation that the industrial and electrical/electronic (EIS) groups should improve as…
Forward Air’s FWRD second-quarter consolidated revenue increased 8% but was roughly flat when excluding the addition of TQI, which was acquired in March. The core airport-to-airport business fell 5% from last year, driven by 3% deterioration in total yield and a low-single-digit fall in tonnage. A large portion of the revenue decline relates to a…
The past weekend rounded up the recent trend of brutally high-volume selling on Chinese bitcoin exchanges. On 28th September, bitcoin dropped to a new five-month low of $372.35. The previous record low for Coindesk’s Bitcoin Price Index (BPI), is the six-month bottom reached on 10th April at $360.84. Meanwhile, trading volumes touched historical highs for…
Santos’s second-quarter production rose 2% to 12.4 million barrels of oil equivalent (mmboe), marginally below expectations, and full-year 2013 production guidance has been reduced by 3% to between 52 and 55 mmboe. The decline reflects deferred oil and gas production from Chim Sao in Vietnam due to power system constraints, steeper than- expected natural field…
A new project that transmits bitcoin payments over the radio is up and running in Finland – and it’s also transmitting a national Finnish cryptocurrency at the same time. Kryptoradio is a data transmission protocol designed to transmit low-bandwidth information over one-way digital broadcast networks. Joel Lehtonen, the project’s founder, said he is focused on…
Bitcoin has not affected the stability of Sweden’s economy, according to a new paper published by the country’s central bank. The latest issue of the Sveriges Riksbank Economic Review, published on 18th September, includes the article What is Bitcoin by Bjorn Segendorf, from the bank’s Financial Stability Department. Segendorf provides an overview of the bitcoin…
