D.R. Horton tops estimates on higher home sales, lower mortgage rates
No.1 U.S. homebuilder D.R. Horton Inc beat Wall Street estimates for third-quarter profit and revenue on Tuesday, boosted by higher home sales and declining mortgage rates.
Xerox cuts full-year revenue forecast
Xerox Corp cut its full-year revenue forecast on Tuesday, citing organizational changes, primarily in North America.
BP profit again outstrips forecasts, lifted by higher oil output
A strong rise in oil and gas production helped BP offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.
Sony surprises with record profit as image sensor demand offsets weak gaming
Japan’s Sony Corp surprised the market by reporting on Tuesday a record first-quarter operating profit despite the slowing gaming business, as strong demand for multiple-lens camera systems for smartphones boosted sales of image sensors.
Brazil oil block auction looks very expensive: BP CEO
Brazil’s closely-watched auction of offshore oil blocks looks “very expensive” and BP has yet to decide if it will take part in it, Chief Executive Officer Bob Dudley said on Tuesday.
Stormy sterling sinks again, stocks wilt before Fed
Brewing no-deal Brexit worries sent the pound sinking towards a two-year low versus the euro and roughed up Irish bonds on Tuesday, while stock markets wilted before what is expected to be the first cut in U.S. rates since the financial crisis.
Exxon Mobil’s second-quarter results expected to sag, spotlighting need for asset sales
Exxon Mobil Corp’s plan to accelerate asset sales, a way of delivering needed cash to finance shareholder returns and major projects, is getting off to a slow start as oil companies pull back on big deals.
Lufthansa braces for more challenges after price war hits earnings
German airline Lufthansa said it was braced for very tough price competition with Ryanair and easyJet for at least the rest of this year as it reported a plunge in second-quarter earnings on Tuesday.
Huawei’s first-half revenue growth accelerates despite U.S. sanctions
China’s Huawei Technologies said on Tuesday revenue in the first half of the year grew 23.2% – faster than a year ago – despite an intense U.S. campaign against it that ultimately became a trade ban from mid-May.
BP has no plans to take its tankers through Hormuz
BP has not taken any of its oil tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels, the British company’s Chief Financial Officer Brian Gilvary said on Tuesday.
