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McCormick's earnings stymied by unfavorable currency rates, special charges

2015-07-01 14:37:01| Food - Topix.net

McCormick & Co. announced its second-quarter earnings Wednesday, with unfavorable currency rates and special charges dragging its numbers down below the consensus prediction.

Tags: special rates charges currency

GM sees $600 million expense due to currency swings in Venezuela

2015-07-01 09:49:37| Automakers - Topix.net

The largest US automaker and the third biggest in the world, General Motors, has recently announced it would incur a pre-tax charge of around $600 million because of currency devaluation in Venezuela. The move shows automakers are once more in jeopardy if they operate in the South American country, with GM's "re-measurement" being for the automotive cost of sales in the troubled economy during the second quarter of the year, according to a company filling with the US Securities Exchange Commission.

Tags: due million venezuela currency

Oracle profit, sales miss estimates on currency, licenses

2015-06-18 02:18:07| Telecom - Topix.net

Oracle's fiscal fourth-quarter sales and profit fell short of analysts' estimates, hurt by currency fluctuations and sagging sales of new products to new and existing customers. Revenue fell 5.4 percent to $10.7 billion in the period ended May 31, and profit before certain costs was 78 cents a share, the Redwood City, California-based company said in a statement.

Tags: sales miss profit estimates

H&M Q2 sales up but hit by currency

2015-06-15 12:12:00| Daily apparel & textile news and comment - from just-style.com

Swedish apparel retailer Hennes & Mauritz (H&M) saw its sales grow in the second quarter and for the month of May, but was hit by currency and calendar effects.

Tags: sales hit currency