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General Dynamics: Q1 Earnings Snapshot

Published Mon, 24 Feb 2025 12:25:28 GMT

RESTON, Va. (AP) — RESTON, Va. (AP) — General Dynamics Corp. (GD) on Wednesday reported first-quarter earnings of $730 million.On a per-share basis, the Reston, Virginia-based company said it had net income of $2.64.The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share.The defense contractor posted revenue of $9.88 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $9.32 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GD at https://www.zacks.com/ap/GDSource

Penske: Q1 Earnings Snapshot

Published Mon, 24 Feb 2025 12:25:28 GMT

BLOOMFIELD HILLS, Mich. (AP) — BLOOMFIELD HILLS, Mich. (AP) — Penske Automotive Group Inc. (PAG) on Wednesday reported first-quarter earnings of $298.3 million.The Bloomfield Hills, Michigan-based company said it had net income of $4.31 per share.The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.03 per share.The auto dealership chain posted revenue of $7.34 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $6.83 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PAG at https://www.zacks.com/ap/PAGSource

Teledyne: Q1 Earnings Snapshot

Published Mon, 24 Feb 2025 12:25:28 GMT

THOUSAND OAKS, Calif. (AP) — THOUSAND OAKS, Calif. (AP) — Teledyne Technologies Inc. (TDY) on Wednesday reported first-quarter profit of $178.7 million.The Thousand Oaks, California-based company said it had net income of $3.73 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $4.53 per share.The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.43 per share.The defense and aerospace industry supplier posted revenue of $1.38 billion in the period.For the current quarter ending in June, Teledyne expects its per-share earnings to range from $4.56 to $4.66.The company expects full-year earnings in the range of $19 to $19.20 per share._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TDY at https://www.zacks.com/ap/TDYSource

Manhattan prosecutors ask judge to limit Trump’s ability to publicize information about his criminal case

Published Mon, 24 Feb 2025 12:25:28 GMT

(CNN) — Prosecutors with the Manhattan district attorney’s office have asked the judge overseeing Donald Trump’s criminal case to impose a protective order restricting the former president’s ability to publicize information about the investigation.In a motion, prosecutors told the judge that Trump’s team would not consent to a protective order.“The risk that this Defendant will use the Covered Materials inappropriately is substantial. Defendant has a long history of discussing his legal matters publicly—including by targeting witnesses, jurors, investigators, prosecutors, and judges with harassing, embarrassing, and threatening statements on social media and in other public forums—and he has already done so in this case,” prosecutors wrote in the filing.Manhattan prosecutors have accused Trump of falsifying business records with the intent to conceal illegal conduct connected to his 2016 presidential campaign. The criminal charges stem from ...

Activision and Microsoft to appeal after CMA blocks takeover

Published Mon, 24 Feb 2025 12:25:28 GMT

Activision has said it will “work aggressively” with Microsoft to overturn the U.K. competition regulator’s decision to block Microsoft’s proposed takeover of the game developer.Microsoft and Activision were confident of approval after agreeing remedies to address concerns raised by the Competition and Markets Authority (CMA). But the CMA said on Wednesday that the proposed solution “failed to effectively address the concerns in the cloud gaming sector.”  It said: “The deal would reinforce Microsoft’s advantage in the market by giving it control over important gaming content such as Call of Duty, Overwatch, and World of Warcraft.”A spokesperson for Activision said the CMA’s report “contradicts the ambitions of the U.K. to become an attractive country to build technology businesses… The report’s conclusions are a disservice to U.K. citizens, who face increasingly dire economic prospects. We will reassess our growth plans for the U.K.“Global innovators large and s...

European Union set for showdown with industry over new pharma rules

Published Mon, 24 Feb 2025 12:25:28 GMT

Big Pharma has met its match. Brussels held firm on a planned overhaul of its pharmaceutical rules on Wednesday, confirming a punishing new measure that will cut into the sector’s bottom line. The proposed rules would remove two years of data protection from all new medicines launched in the European Union, allowing unbranded rivals to enter the market more quickly. Since details of this measure were first revealed in a leaked draft published by POLITICO in January, pharma companies have been up in arms about this threat to their earnings. Politicians and activists feared that a recent last minute delay was a sign that the industry had successfully lobbied to water down the package. But while the final version contains some sweeteners for industry, the overall shape of the package — which consists of one regulation and one directive — has stayed the same.Access above allThe reform puts forward a mix of carrots and sticks to try and fix big issues afflicting the market...

NH Editor, Pulitzer administrator Mike Pride dead at 76

Published Mon, 24 Feb 2025 12:25:28 GMT

CONCORD, N.H. (AP) — Mike Pride, who cultivated excellence in journalism as a New Hampshire newspaper editor and later rewarded it as administrator of the Pulitzer Prizes, has died. He was 76.Pride, who died Monday in Florida from complications of a blood disorder, was the only person to serve as a juror, board member, board co-chair and administrator for the Pulitzers. But before he began bestowing some of journalism’s highest honors, he spent decades nurturing reporters often just starting their careers.Under his 25 years of leadership, the Concord Monitor expanded its staff and scope — attracting national attention for ambitious projects and aggressive coverage of both local issues and the national politicians who showed up every four years for New Hampshire’s presidential primary. The newspaper became something of a magnet for reporters looking to learn a lot, quickly, and then move on.Sarah Koenig, host and co-creator of the award-winning podcast Serial, was a Monitor poli...

Self-described satanist sentenced in virtual currency scheme

Published Mon, 24 Feb 2025 12:25:28 GMT

CONCORD, N.H. (AP) — The founder of a satanic church who lost a run for sheriff in 2020 as a Republican was sentenced in U.S. District Court to 18 months in prison Tuesday for operating an unlicensed money transmitting business.Aria DiMezzo, of Keene, a 35-year-old self-described satanist, was also ordered to pay a fine of $5,000 and to forfeit more than $14,000 along with 1.93 bitcoins, currently worth about $55,000.Between June 2020 and January 2021, DiMezzo charged a fee to exchange mostly U.S. dollars for bitcoin or other virtual currency, recruiting customers on websites, according to investigators. They said customers sent her money through bank accounts in her name and in the name of an organization she created, the Reformed Satanic Church.DiMezzo sold more than $3 million worth of virtual currency, did not register her operation as a money transmitting business and failed to comply with required regulations, according to prosecutors.For example, according to invest...

Rockets make it official, hire ex-Celtics coach Ime Udoka

Published Mon, 24 Feb 2025 12:25:28 GMT

HOUSTON (AP) — The Houston Rockets officially hired Ime Udoka as their new coach on Tuesday, replacing Stephen Silas, who was fired after three seasons.The Rockets had the worst record in the previous two seasons and finished tied with the Spurs for the second-worst record this season, earning another lottery pick in this year’s draft.“Ime’s intelligence, drive and toughness were the traits we were looking for in a coach to lead our team through this next stage of our development as we strive to become a champion,” Houston general manager Rafael Stone said in a statement. “We were honored to have the opportunity to speak to multiple outstanding candidates throughout the interview process and felt that Ime’s vision best aligned with the goals the Fertitta Family and myself have for the future of the Rockets.”Udoka led the Celtics to the NBA Finals last season. He was then suspended for this season after the disclosure of an inappropriate relationship with a female Celtics...

Boeing loses $425 million but plans production boost for Max

Published Mon, 24 Feb 2025 12:25:28 GMT

By DAVID KOENIG (AP Airlines Writer)Boeing lost $425 million in the first quarter — more than Wall Street expected — but said Wednesday that it plans to boost production of its best-selling plane later this year.Revenue rose 28% from a year earlier, as airlines scooped up new jets to meet rising travel demand.The company also stood by its forecast of producing $3 billion to $5 billion in cash flow this year.Shares of Boeing jumped about 4% before the opening bell Wednesday.CEO David Calhoun called it “a solid first quarter.”“We are progressing through recent supply chain disruptions but remain confident in the goals we set for this year, as well as for the longer term. Demand is strong across our key markets,” he said in a statement.Boeing’s passenger jets have been plagued by production problems, and it took a write-down in the first quarter for a military tanker.The Arlington, Virginia, company said the loss in core operations worked out to $1.27 per share. Analysts expected the c...