Market Updates

Barrick Gold Net Loss Widens, Teva Pharmaceutical Net Loss Narrows

Mukesh Buch
13 Feb, 2019
New York

    Barrick Gold fourth-quarter net loss widened to $1.2 billion. Diebold Nixdorf net loss widened to $124 million. FLIR Systems fourth-quarter net swung to a loss of $99 million. Teva Pharmaceutical fourth-quarter net loss narrowed to $2.9 billion.

Tollbooth Index rose 88.11 to 15,581.74 and for the year-to-date soared 10.9%.

Earnings Review

Apple Inc, edged up 65 cents to $171.54 after the research company International Data Corp reported that shipments of smart-phone maker in the fourth-quarter of fiscal 2018 declined by 20% as the numbers detailed shipments on iPhone in its quarterly results were not published.

However, sales of China-based Huawei Technologies Co sales surged by 23% and Oppo and Vivo took second and third numbers in the domestic markets.

Barrick Gold Corp, declined 5.1% or 68 cents to $12.69 after Canada-based gold producer reported revenues in the fourth-quarter ending in December dropped 13.6% from a year ago to $1.9 billion.

Net loss in the quarter widened to $1.2 billion or $1.02 per diluted share from $314 million or 27 cents in the same quarter last year.

The gold producer said production in the quarter was 1.26 million ounces, at a cost of sales of $980 per ounce and all-in sustaining costs of $788 per ounce.

Diebold Nixdorf Inc, surged 28.7% or $1.50 to $6.73 after the software services provider said revenues in the fourth-quarter ending in December jumped 3.2% from a year ago to $1.3 billion.

Net loss in the quarter widened to $123.6 million or $1.62 per diluted share from $110.1 million or $1.46 in the same quarter last year.

Diebold lifted savings targets forecast in the three-year by fiscal 2021 to $400 million from $250 million and reduce ratio of net debt to less than three times by 2021.

Ellie Mae Inc, slid 0.1 cents to $98.88 after the cloud-based platform provider agreed to acquire a private equity investment firm Thoma Bravo, LLC $3.7 billion in cash.

Under the terms, Ellie Mae shareholders will receive $99 in cash per share.

The transaction is expected to close in the second or third-quarter of 2019

FLIR Systems Inc, jumped 2.6% or $1.34 to $52.18 after the software services provider sensors and imaging systems developer reported revenues in the fourth-quarter ending in December plunged 9.4% from a year ago to $448.5 million.

Net in the quarter swung to a loss of $98.5 million or 71 cents per diluted share from profit of $50.3 million or 36 cents in the same quarter last year.

FLIR forecasted fiscal 2019 revenue growth in 2019 between 8% and 10% or in the range of $1.92 billion to $1.95 billion and operating income margins in the range of 22% to 23% and diluted earnings per share in the range of $2.30 to $2.36.

Teva Pharmaceutical Industries Ltd, declined 6.9% or $1.32 to $17.80 after the Israel-focused generic drugs maker reported net revenues in the fourth-quarter ending in December slumped 15.6% from a year ago to $4.6 billion.

Net loss in the quarter narrowed to $2.9 billion or $2.85 per diluted share from $11.6 billion or $11.41 in the same quarter last year.

Teva said as of December 31, 2018, net debt reduced to $28.9 billion from $32.5 billion in the same period a year ago.

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