Finance and markets: business, quotes, gold, energy and releases.
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Bob’s Discount Furniture is set to begin trading on the New York Stock Exchange this Thursday after pricing its initial public offering at $17 per share, the bottom of its projected range. The Manchester, Connecticut-based retailer raised funds by selling 19.45 million shares, signaling a cautious but determined entry into the public markets.
Meituan has reached an agreement to acquire the Chinese operations of online grocer Dingdong for $717 million, a strategic move designed to consolidate its presence in the country’s competitive retail landscape. The deal, announced Thursday, targets Dingdong Fresh Holding while leaving the company’s international assets independent.
Ares Management reported a 20% revenue jump in the fourth quarter, reaching $1.5 billion, as the asset manager capitalized on what CEO Michael Arougheti described as robust investor demand. Despite the top-line growth and a significant expansion in assets under management, the firm’s net income saw a sharp year-over-year decline, missing analyst expectations on per-share earnings.
Barrick Gold is moving to spin off its premier North American gold mines into a standalone public entity, a strategic shift aimed at unlocking shareholder value and closing a persistent valuation gap. The Toronto-based miner expects to complete the initial public offering by late 2024, while maintaining a controlling interest in the new firm.
Calfrac Well Services has appointed Tyler Dahlseide as its new Chief Executive Officer, ending a months-long leadership vacuum at the Canadian oilfield services provider. Dahlseide, who joined the firm last year, succeeds Pat Powell and takes the helm effective immediately as the company looks to stabilize its executive suite.
Anglo American has lowered its production forecasts for copper and diamonds through 2026, citing a combination of declining ore grades and a persistent downturn in the luxury market. While the mining giant saw operational gains in its iron ore division, a sharp 35% drop in quarterly diamond output has prompted a formal impairment review of its De Beers unit.
Minneapolis-based Xcel Energy reported a sharp increase in fourth-quarter net income, meeting analyst expectations as the utility giant benefits from a nationwide boom in data center construction fueled by artificial intelligence.
Carrier Global shares tumbled 8% in premarket trading Thursday after the HVAC manufacturer reported a fourth-quarter sales miss and issued a cautious 2026 outlook. The company cited persistent challenges in the residential market and inventory adjustments by distributors in the Americas as primary drivers for the lackluster performance.
A&A Material Corp. reported a 32% surge in net profit for the nine months ended December 31, as steady revenue growth helped the Japanese industrial firm overcome a contraction in its operating margins.
Kanamic Network Co. Ltd. posted a significant rise in net profit for the first quarter ending December 31, as the Japanese healthcare software provider saw gains across all core financial metrics. Net income climbed to ¥305 million, up from ¥235 million in the prior-year period, driven by a steady expansion in revenue.
Tokyo-based consumer finance provider Jaccs Co. Ltd. reported a decline in net profit to ¥14.59 billion for the nine months ended December 31, even as the company saw a modest increase in total revenue.
Global equity markets showed mixed performance on Wednesday as investors braced for impending interest rate decisions from the European Central Bank and the Bank of England. While U.S. stock futures edged higher, European and Asian indices struggled for direction amid a sharp retreat in crude oil prices and shifting bond yields.
DBS Group Holdings is expected to report a slight decline in annual net profit to S$11.275 billion this Monday, as Singapore’s largest lender navigates a seasonal slowdown and shifting interest rate dynamics.
Hikma Pharmaceuticals shares fell sharply during early London trading on Thursday after Brookfield Private Capital confirmed it does not intend to pursue an acquisition of the FTSE 100-listed drugmaker.
TotalEnergies has secured two major power purchase agreements with Airbus to supply 3.3 TWh of renewable electricity to the aircraft manufacturer’s primary operations in Germany and the United Kingdom. Starting in 2027, the clean power solution will utilize a new 200 MW renewable portfolio to meet approximately half of the electricity demand across the targeted sites.
Kuaishou Technology has launched an upgraded version of its Kling AI video generator, introducing enhanced character realism and native multilingual audio capabilities to maintain its edge in the global generative media market.
Tokyo-based IT services provider Future Corp. (4722.TO) reported a double-digit increase in annual net profit for the fiscal year ending December 31, reaching ¥11.71 billion. The results, released under Japanese accounting standards, underscore a period of steady expansion for the firm as it scales its consulting and systems integration business.
Zeria Pharmaceutical Co. Ltd. reported a sharp decline in net profit to ¥5.55 billion for the nine months ended Dec. 31, down from ¥8.23 billion a year earlier, as the Japanese drugmaker grappled with stagnant revenue and shrinking margins.
Arisawa Manufacturing Co. Ltd. reported a nine-month net profit of ¥2.98 billion, representing a slight decrease from the previous year despite a significant uptick in top-line revenue. The Japanese manufacturer’s results for the period ending December 31 highlight a period of operational growth tempered by tightening pretax margins.
SIGMAXYZ Inc. (6088.TO) reported a resilient nine-month performance ending December 31, with net profit reaching 3.27 billion yen despite a year-on-year decline in total revenue. The Tokyo-listed consulting group saw its operational efficiency rise, effectively offsetting a contraction in the top line as it navigates a shifting Japanese professional services market.
Nippon Tungsten Co. Ltd. reported a steady net profit of ¥543 million for the nine months ended December 31, matching its performance from the previous year despite a contraction in top-line revenue and operating income. The results, released under Japanese accounting standards, highlight the company's ability to maintain bottom-line stability even as industrial margins face downward pressure.
Tokyo-based packaging and industrial materials manufacturer Fujimori Kogyo Co. Ltd. reported a significant rise in profitability for the nine months ended Dec. 31, with net income climbing to ¥6.51 billion. The results, underpinned by steady revenue growth, reflect the company's resilience in a fluctuating industrial market.
Kyoei Tanker Co. Ltd. reported a sharp decline in nine-month net profit to ¥443 million, down from ¥4.91 billion a year earlier, even as the Japanese shipping firm saw a modest uptick in top-line revenue.
Japanese construction firm Ohmoto Gumi Co. Ltd. reported a significant decline in net profit for the nine months ended December 31, even as total revenue climbed by 14%, reflecting a challenging environment for bottom-line growth.
Care Service Co. Ltd. (2425.TO) reported a net profit of ¥77.00 million for the nine-month period ending December 31, according to its latest financial disclosure. The Tokyo-listed firm generated revenue of ¥6.97 billion during the three quarters, maintaining steady top-line momentum under Japanese accounting standards.
Japanese pharmaceutical distributor Chukyo Iyakuhin Co. Ltd. reported a significant bottom-line improvement for the nine months ending December 31, with net profit climbing to ¥218 million. The results, underpinned by a rise in total revenue to ¥5.25 billion, reflect a period of strengthened operational efficiency for the Nagoya-based firm.
Tokyo-based developer Urbanet Corp. Co. Ltd. swung to a significant profit in the first half of the fiscal year ending December 31, 2024, driven by a massive surge in top-line growth. The company reported a net profit of ¥1.91 billion, marking a sharp reversal from the ¥210 million loss recorded during the same period the previous year.
Tamai Steamship Co. Ltd. reported a sharp decline in its nine-month bottom line, with net profit falling to ¥224 million from ¥2.05 billion a year earlier. The Japanese shipping firm faced significant headwinds during the period ending Dec. 31, as both revenue and operating margins tightened compared to the previous fiscal year.
Fuji Pharma Co. Ltd. reported a sharp contraction in first-quarter net profit for the period ended December 31, despite achieving significant gains in both revenue and operating income. The Japanese drugmaker’s net income fell to ¥324.00 million, down from ¥991.00 million a year earlier, according to the company’s latest financial results.
Sasol, the South African energy and chemicals giant, warned of a significant decline in first-half earnings for fiscal 2026, driven by a sharp retreat in Brent crude prices and a softening chemicals market. The group expects its performance for the period ending Dec. 31 to be weighed down by nearly $500 million in asset impairments despite gains in refining margins and operational efficiency.