Hints and tips:
...Diageo’s new chief executive Debra Crew has taken up the position a month earlier than expected after the company said outgoing leader Sir Ivan Menezes was in hospital recovering from emergency surgery....
...Diageo chief executive Debra Crew said at the CAGNY conference of consumer analysts in Miami last month that prices would “normalise to one to two points of growth in line with historical pre-Covid levels...
...Net income jumped 201 per cent to $14bn, beating consensus estimates of $13bn compiled by S&P Capital IQ....
...Debra Crew, who previously ran Diageo’s North America operations has now started in the role....
...After 10 years as bar captain, Sir Ivan Menezes will hand the keys to Debra Crew, currently chief operating officer....
...One market-watcher we spoke to yesterday, Mark Hackett of Nationwide, thinks the S&P 500 is fresh out of technical support, and will need better fundamentals to rise much higher. What say you?...
...Net income in the third quarter fell 52 per cent to $4.4bn, below consensus estimates for $5bn, according to S&P Capital IQ....
...Combined with the new minimum corporate tax, Goldman Sachs reckons S&P 500 earnings per share will be 1.5 per cent lower in 2023, compared to previous estimates....
...The S&P 500 was up almost 40 per cent over the same period....
...Net losses shrunk to $200m from $227m, less than consensus estimates compiled by S&P Capital IQ, which suggested they would widen to $269m....
...The world’s biggest drinks company in 2014 teamed up with P Diddy in a 50-50 joint venture to buy DeLeón tequila, having already struck a $100m deal with the US rap star to market Cîroc vodka in the US....
...This article has been changed to correct the name of Ford CEO Jim Hackett....
...Clifford P Hackett Washington, DC, US...
...S&P and Fitch both still rate the company at triple B, two notches above junk territory....
...Downgrades by S&P and Moody’s this month stripped the company of its investment-grade status once again, sending $36bn of debt back into junk territory....
...martin.wolf@ft.com Letters in response to this column: A ‘standstill’ Brexit is a logical step forward / From Clifford P Hackett, Washington, DC, US Can we no longer face up to reasoned argument?...
...“Advertisers say they are concerned about Facebook’s many problems, but that concern hasn’t led to a drop in ad spending,” Debra Aho Williamson, principal analyst at research firm eMarketer, wrote in a note...
...“In order for Facebook to move forward, it needs to show that its daily and monthly active user counts in the US and Canada and in Europe have stabilised,” said Debra Aho Williamson, principal analyst at...
...Mark Hackett, chief of research at Nationwide’s Investment Management Group, notes: “Generally, when we see sharp declines in equities, investors flock to bonds....
...This is due to continuing weak cash flows and profitability,” S&P said....
...Yet over the past three years Ford shares have performed miserably, down 17 per cent, trailing well behind both the S&P 500 and MSCI World auto indices....
...Clifford P Hackett Washington, DC, US Executive Director, Jean Monnet Council...
...Elsewhere, Ford’s stock price rose 2.1 per cent to $11.10 after the carmaker said it was replacing Mark Fields as chief executive with Jim Hackett....
...Clifford P Hackett Executive Director, American Council for Jean Monnet Studies, Washington, DC, US...
...Rio shares were trading flat on the Australian Stock Exchange, outperforming both the benchmark S&P/ASX 200, which was down 0.3 per cent, as well as other rivals....
International Edition