The profit recession that has weighed on large-cap stocks on Wall Street for the past three quarters may be loosening its grip as US companies allow a hint of blue sky to poke through the gloom.
As companies share their expectatio
BASF announced a 600-million-euro ($653 million) charge for the fourth quarter citing low oil prices and warned of lower-than-expected 2015 earnings, sending its shares lower.
Low oil prices, normally a boon to
Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the Opec nation's economy, Finance Minister Abderrahmane Benkhalfa said.
Asian shares eked out cautious gains on Wednesday as concerns about corporate earnings hobbled Wall Street while investors counted down to the European Central Bank's policy meeting later in the week.
MSCI's broadest index
Banks in the GCC, which reported a good set of gains in the first half of 2015, could see a weakening in earnings over the next several quarters due to the knock-on effects of lower oil prices on growth and asset quality, a report said.
Low-cost carrier Air Arabia may see a further impact on earnings from fuel hedges put in place prior to the steep drop in oil prices, the chief executive of the UAE-based carrier said on Monday.
However, Adel Ali insisted the airl
Kuwait’s banking sector recorded a solid growth of 13 per cent during the first half (H1) of the year, benefiting from an improving operating environment and healthy growth in credit, a report said.
With such results, bank p
Apparel retailer Gap forecast a drop in full-year profit, citing a strong dollar, shipment delays due to disruptions at US West Coast ports and declining sales at its flagship Gap brand.
The company said it appointed a new design
Falling oil prices and their impact on revenues will dominate European oil majors’ quarterly results next week, with investors eager to hear how companies plan to achieve ambitious cost-cutting plans in an increasingly tough environment.
The combined net profits of Saudi Arabia's leading companies are expected to rise 17 per cent in 2014 and a further 11 per cent in 2015, largely on the back of petrochemical producers and banks, although a number of companies in other sector