Breaking News
Jan 19, 2023
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PPG said revenue in December quarter increased 2% to $4.5 billion and net income declined 4% to $329 million and diluted earnings per share fell to $1.39 from $1.43 a year ago.
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KeyCorp said revenue in the December quarter fell 2.5% to $1.89 billion and net income dropped 41% to $356 million or diluted earnings per share fell to 38 cents from 64 cents a year ago.
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Home building permits in December declined 1.6% to 1.33 million annual rate and fell 29.9% from a year ago. Housing starts fell 1.4% from November to 1.38 million and plunged 21.8% from a year ago.
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In 2022, U.S. building permits for private residential construction fell 5% from a year ago to 1.65 million, starts declined 3% to 1.55 million and completions dropped 3.8% to 1.39 million.
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Nordstrom said 9-week holiday period sales fell 3.5% from a year ago and lowered its fiscal year EPS outlook to between $1.33 and $1.53 from the previous range between $2.13 and $2.43.
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Netflix added 7.6 million net new subscribers in the fourth quarter and ended the year 2022 with 230.75 million subscribers.
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Netflix said fourth quarter revenues increased 1.9% to $7.85 billion but net income plunged to $55 million from $607 million and diluted earnings per share fell to 12 cents from $1.33 a year ago.
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Wholesale price inflation slowed to 6.21% in December, the smallest increase since March 2021. On a monthly basis, prices fell 0.5%, the largest decline since April 2020.
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The Bank of Japan left its key short term interest rates at -0.1% and said it will maintain its ultra-low policy stance despite the rising inflation pressures.
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Microsoft said it plans to lay off 10,000 workers and take a one-time charge of $1.2 billion or 12 cents per share.
Jan 18, 2023