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☆ Humana shares fall as reaffirmed 2023 profit view disappoints
▼ + stars: | 2023-11-01 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

Signage for Humana Inc. is pictured at a health facility in Queens, New York City, U.S., November 30, 2021. The health insurer stuck to its 2023 adjusted profit target of at least $28.25 per share. As of Sept. 30, 5.9 million members were enrolled in its Medicare Advantage plans, up 14.7% from a year ago. The company raised its forecast for 2023 Medicare Advantage membership for the second time this year, and now expects to add at least 860,000 people. It reported a quarterly adjusted profit of $7.78 per share, beating analysts' estimate of $7.16 per share.

Persons: Andrew Kelly, Humana, Julie Utterback, Utterback, UnitedHealth, Khushi, Milla Nissi Organizations: Humana Inc, REUTERS, Wednesday, Health, Humana, Medicare, Thomson Locations: Queens , New York City, U.S, Bengaluru

☆ Kraft Heinz lifts annual profit target as price hikes boost margin
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

Bottles of Heinz Tomato Ketchup, a brand owned by The Kraft Heinz Company, are seen in a store in Manhattan, New York, U.S., November 11, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsNov 1 (Reuters) - Kraft Heinz (KHC.O) beat Wall Street estimates for third-quarter profit and raised its annual forecast as the Jell-O maker's margins benefited from higher prices of its packaged meals and condiments. Kraft's prices increased by 7.1 percentage points for the quarter, boosting its adjusted gross margin by 396 basis points to 34%. However, the higher prices took a toll on demand from inflation-hit customers, sending Kraft's overall volumes down 5.4 percentage points even as organic net sales grew 1.7%. The Philadelphia Cream Cheese maker forecast full-year adjusted profit in the range of $2.91 to $2.99 per share, compared with its previous range of $2.83 to $2.91.

Persons: Andrew Kelly, Kraft Heinz, General Mills, Savyata Mishra, Mary Manoj, Devika Organizations: The Kraft Heinz Company, REUTERS, Kellogg, Cola, Philadelphia Cream, Thomson Locations: Manhattan , New York, U.S

People walk by a CVS pharmacy store in Manhattan, New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies CVS Health Corp FollowNov 1 (Reuters) - CVS Health Corp (CVS.N) beat Wall Street estimates for quarterly profit on Wednesday as strength in its drugstores and pharmacy benefit management business offset higher-than-expected medical costs at its insurance unit. CVS' medical benefit ratio, or the percentage of claims paid compared to premiums collected, was 85.7% in the third quarter, compared with analysts' estimates of 85.1%. CVS' pharmacy and consumer wellness segment recorded 6% revenue growth to $28.87 billion, boosted by higher drug prices and prescription volume. The company reported an adjusted profit of $2.21 per share, beating estimates of $2.13 per share, according to LSEG data.

Persons: Andrew Kelly, Julie Utterback, Mariam Sunny, Leroy Leo, Saumyadeb Chakrabarty, Vinay Dwivedi Organizations: REUTERS, CVS Health, CVS Health Corp, CVS, Morningstar, PBMs, Revenue, Walgreens, Thomson Locations: Manhattan , New York City , New York, U.S, United States, Bengaluru

☆ India authorises Apple, Dell, Lenovo and others to import laptops, tablets -sources
▼ + stars: | 2023-11-01 | by ( Shivangi Acharya | ) www.reuters.com time to read: +1 min

[1/2] A Dell laptop is seen for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW DELHI, Nov 1 (Reuters) - Apple (AAPL.O), Dell (DELL.N), HP (HPE.N), Samsung (005930.KS) and Lenovo (0992.HK) are among 110 firms authorised by India to import laptops, tablets and personal computers under a new system aimed at monitoring shipments, two government sources said. Acer (2353.TW), Xiaomi (1810.HK), IBM (IBM.N) and ASUS (2357.TW) have also been issued import authorisations, the two sources said, under India's new "import management system" effective from Wednesday. India announced the new system for laptops, tablets and personal computers last month after it rolled back an earlier plan to impose a licensing regime, following criticism from the industry and Washington. The sources declined to be named as details of the authorisations have not yet been made public.

Persons: Andrew Kelly, Shivangi Acharya, Kirsten Donovan Organizations: REUTERS, Dell, HP, Samsung, Lenovo, HK, IBM, ASUS, India, Washington . Companies, Thomson Locations: Manhattan , New York City, U.S, DELHI, India, Washington

REUTERS/Andrew Kelly Acquire Licensing RightsMOSCOW, Nov 1 (Reuters) - Former Russian president Dmitry Medvedev sneered at the Danish brewer Carlsberg (CARLb.CO) on Wednesday for having thought it could quit Russia without penalty after the West sanctioned Moscow for its invasion of Ukraine. Carlsberg CEO Jacob Aarup-Andersen on Tuesday said Russia had stolen its business when President Vladimir Putin in July granted temporary control of its majority stake in the Russian brewer Baltika to the federal government. "Like their brethren in the Western menagerie, they abandoned everything in Russia for political reasons ..., refused to fulfil their obligations to Russian contractors. Carlsberg had eight breweries and about 8,400 employees in Russia, and took a 9.9 billion Danish crown ($1.4 billion) write-down on Baltika last year. ($1 = 7.0694 Danish crowns)Reporting by Reuters in Moscow and Alexander Marrow in LondonOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Dmitry Medvedev sneered, Jacob Aarup, Andersen, Vladimir Putin, Baltika, Carlsberg, Medvedev, they'd, Alexander Marrow Organizations: Carlsberg, REUTERS, Rights, West, Russia's Security, Reuters, Thomson Locations: Copenhagen, Denmark, Russian, Danish, Moscow, Ukraine, Russia, London

☆ Divide Between CMOs and CEOs Is Growing, Research Finds
▼ + stars: | 2023-10-30 | by ( Patrick Coffee | ) www.wsj.com time to read: 1 min

CMOs are more likely than in past years to say CEOs don’t understand the work marketers do, according to a new survey by McKinsey. Photo: ANDREW KELLY/REUTERSChief executives and chief marketing officers often don’t see eye-to-eye on what precisely the role of CMOs entails or even on the effectiveness of corporate strategy. And in some cases, the disconnect is growing. CEOs have been paying closer attention to their companies’ marketing operations as sources of growth in an unsteady economy, observers say. Frequently, CEOs are certain they understand how modern marketing works; in many cases, their CMOs don’t share that confidence.

Persons: ANDREW KELLY Organizations: McKinsey, REUTERS

☆ In the Market: Treasury market braces for seismic SEC rule
▼ + stars: | 2023-10-30 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

SIFMA, which has lobbied the SEC, expects the final rule next month, ahead of a Treasury market conference on Nov. 16. The SEC rule would be the most significant regulation so far to come out of that review. There is broad consensus on the need for Treasury market reform, including the benefits of central clearing -- even among the industry sources interviewed for this article. "It is going to improve financing and reduce the risks for turmoil in the U.S. Treasury market," said Yiming Ma, an associate professor at Columbia Business School. The SEC rule would force the banks to move that to central clearing.

Persons: Andrew Kelly, JPMorgan Chase, ”, Rob Toomey, SIFMA's, Gary Gensler, Banks, Ma, SIFMA, Toomey, Paritosh Bansal, Anna Driver Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Treasury, SEC, JPMorgan, Bank of New York Mellon, Federal Reserve, U.S . Treasury, Columbia Business School, Depository Trust, Clearing Corp, Thomson Locations: Washington ,, U.S

☆ Goldman Sachs hires BlackRock executive for unit serving third-party wealth product providers
▼ + stars: | 2023-10-30 | by ( Saeed Azhar | Thomson Reuters | Saeed Azhar Is A Reuters Financial Journalist On The U.S. Banking Team Covering Wall Street'S Biggest Lenders. He Focuses On Goldman Sachs | ) www.reuters.com time to read: +1 min

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Weiss joins Goldman Sachs as managing director as head of so-called "wealth customized solutions" for the U.S, according to a internal memo seen by Reuters. Goldman Sachs clients for these products include large banks' wealth management divisions, independent broker-dealers and registered independent advisors. Weiss was head of separately managed accounts (SMAs), models and portfolio consulting at BlackRock (BLK.N), according to the Goldman memo. Goldman Sachs Asset Management wants to offer tailored portfolios across both public and private asset classes, said Padi Raphael, head of third party wealth management at the bank.

Persons: Goldman Sachs, Andrew Kelly, Gregory Weiss, Weiss, Goldman, Merrill Lynch, Padi Raphael, Saeed Azhar, Lananh Nguyen, Chizu Organizations: REUTERS, U.S, Reuters, BlackRock, UBS, Goldman, Management, Thomson Locations: Manhattan , New York, U.S, BlackRock

The logo for AbbVie is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. Morningstar analyst Damien Conover said he had already factored in a hit to Imbruvica from the Medicare price negotiations, so the update on impairment was not "overly significant to our view." Humira's global third-quarter sales fell 36% to $3.55 billion, but topped analysts' estimates of $3.48 billion, according to LSEG data. AbbVie in July trimmed its 2023 view for Humira sales erosion to 35%, from 37% earlier. The company's newer immunology drugs Skyrizi and Rinvoq generated sales of $2.13 billion and $1.11 billion, respectively, ahead of analyst expectations of $2.10 billion and $1.02 billion.

Persons: Andrew Kelly, girding, AbbVie, Imbruvica, Morningstar, Damien Conover, Humira, Piper Sandler, Christopher Raymond, Ingelheim, Leroy Leo, Christy Santhosh, Maju Samuel, Bill Berkrot Organizations: New York Stock Exchange, REUTERS, U.S, Medicare, Analysts, Sandoz, AbbVie, Thomson Locations: New York City , New York, U.S, The Illinois, Bengaluru

The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic. Innovation Refunds — a consulting firm that focuses on the ERC — was one of the most visible advertisers during the tax credit's heyday. How Innovation Refunds worksOn its website, Innovation Refunds makes it clear it is not a tax professional. Innovation Refunds markets to clients, determines if they are viable candidates for the credit and then collects businesses' documentation. Some former employees said this could insulate Innovation Refunds from potential liability if ineligible businesses claimed the credit.

Persons: Danny Werfel, Andrew Kelly, Howard Makler, Ty Burrell, Burrell, Rob Domenico, Werfel, Tom Williams, Makler, Kate Rogers, Domenico, Slack, Jenn McCabe, Armanino Organizations: Companies, ERC, Internal Revenue Service, IRS, ERC —, CNBC, Reuters, CPA, Senate, Washington , D.C, CQ, Inc, Getty, LinkedIn, Justice Locations: New York, Washington ,, Des Moines

☆ UPS cuts annual revenue forecast on weak delivery demand
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Signage is seen on a United Parcel Service (UPS) vehicle at a facility in Brooklyn, New York City, U.S., May 9, 2022. It expects full-year revenue between $91.3 billion and $92.3 billion, compared with a prior forecast of about $93 billion. The company also cut its annual adjusted operating margin to between 10.8% and 11.3% compared to prior forecast of about 11.8%. The entire industry is fighting for market share as demand from e-commerce delivery weakens. UPS has been cutting jobs and leaning on technology to help offset falling e-commerce demand, weak export and industrial production and the cost hit from its new labor contract.

Persons: Andrew Kelly, TD Cowen, Helane Becker, Carol Tomé, Priyamvada C, Lisa Baertlein, Arun Koyyur Organizations: United Parcel Service, REUTERS, Teamsters, Revenue, UPS, Reuters, Thomson Locations: Brooklyn , New York City, U.S

☆ Unilever's new CEO lays out plans to simplify business, shares fall
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +3 min

Klondike, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Oct 26 (Reuters) - Unilever's (ULVR.L) new chief executive Hein Schumacher on Thursday laid out long-awaited plans to simplify the business after admitting it had underperformed in recent years, but shares fell as some investors were unimpressed. Unilever reported a 5.2% rise in underlying sales, meeting analysts' average forecast, a company-provided consensus showed. Underlying price growth for the third quarter was 5.8% while underlying volumes were down 0.6%. The company also announced a senior executive shake-up, naming Fernando Fernandez, currently president of the beauty and wellbeing business, as its new chief financial officer.

Persons: Andrew Kelly, Hein Schumacher, Schumacher, Richard Saldanha, Alan Jope, Nelson Peltz, we've, Graeme Pitkethly, Fernando Fernandez, Richa Naidu, Mark Potter, Jason Neely Organizations: Unilever, REUTERS, Aviva, Thomson Locations: Manhattan , New York City, U.S, Europe

☆ Hasbro cuts revenue view, joins Mattel to warn of cloudy holiday quarter
▼ + stars: | 2023-10-26 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File photo Acquire Licensing RightsOct 26 (Reuters) - Hasbro (HAS.O) cut its annual revenue forecast for the second time this year on weak toy demand and joined Barbie-maker Mattel to warn of choppy holiday-quarter sales, sending its shares down 12% before the bell. The Monopoly maker expects 2023 revenue to tumble 13% to 15% compared to a prior forecast of a 3% to 6% decline. Its third-quarter revenue and profit also missed market expectations, with revenue from its core toy business dropping 18% as shoppers cut back on non-essential spending. Hasbro saw a 40% surge in digital and licensed gaming revenue on strong demand for its "Monopoly Go" and "Baldur's Gate III" games. Analysts have warned that uncertain holiday spend and softer toy demand could prompt retailers to keep supply tight and offer steep discounts to avoid a pile-up like last year.

Persons: FAO Schwarz, Andrew Kelly, Barbie, Chris Cocks, James Zahn, Savyata Mishra, Arun Koyyur Organizations: Hasbro, Inc, FAO, REUTERS, Mattel, Consumer Products, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ US economic growth accelerates in third quarter
▼ + stars: | 2023-10-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Gross domestic product increased at a 4.9% annualized rate last quarter, the fastest since the fourth quarter of 2021, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of third-quarter GDP growth. The economy grew at a 2.1% pace in the April-June quarter and is expanding at a pace well above what Fed officials regard as the non-inflationary growth rate of around 1.8%. While the robust growth pace notched last quarter is unlikely sustainable, it was testament to the economy's resilience despite aggressive interest rate hikes from the Federal Reserve. Growth could slow in the fourth quarter because of the United Auto Workers strikes and the resumption student loan repayments by millions of Americans. Since March, the U.S. central bank has raised its benchmark overnight interest rate by 525 basis points to the current 5.25% to 5.50% range.

Persons: Andrew Kelly, Lucia Mutikani, Nick Zieminski Organizations: REUTERS, Rights, Gross, Commerce Department's, Reuters, Federal Reserve, United Auto Workers, Labor, Labor Department, Treasury, Group's, Thomson Locations: Brooklyn , New York City, U.S

☆ Moscow court upholds Rosbank's $12 mln damages claim against Citi
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The logo for Citibank is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsMOSCOW, Oct 26 (Reuters) - A Moscow court has upheld a claim by Rosbank (ROSB.MM) to recover damages worth 94.47 million Hong Kong dollars ($12.08 million) from U.S. lender Citi (C.N) and its affiliate in Hong Kong, Russian court documents showed on Thursday. Rosbank first asked the court for damages in July, requesting interim asset seizures, concerned that Citi's efforts to fully extricate itself from Russia may reduce its assets there before a decision was reached. The court did not grant interim measures then, but in filings dated Oct. 26, it said: "The claim was satisfied in full." ($1 = 7.8210 Hong Kong dollars)Reporting by Elena Fabrichnaya; writing by Alexander Marrow; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Rosbank, Elena Fabrichnaya, Alexander Marrow, Jason Neely Organizations: Citibank, New York Stock Exchange, REUTERS, Rights, Hong Kong, Citi, Rosbank, Thomson Locations: Manhattan , New York City, U.S, Moscow, Hong Kong, Russia, Ukraine

☆ Citi names Nancy Bertrand private bank head for Canada- memo
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsTORONTO, Oct 26 (Reuters) - Citigroup Inc (C.N) has named Nancy Bertrand as the head of its private bank in Canada, succeeding Bob McGuire who retired earlier this month, according to a memo seen by Reuters on Thursday. Bertrand, who takes the role effective immediately, will be responsible for leading Citi Private Bank's growth in Canada which caters to high-net-worth individuals. She most recently served as a private banker leading a team in Toronto and Montréal, advising ultra-high net worth families, foundations and single-family offices. She joined Citi Private Bank in 2006 and has held a number of senior positions. Bertrand will report to Halé Behzadi, North America head of Citi Private Bank.

Persons: Andrew Kelly, Nancy Bertrand, Bob McGuire, Bertrand, Halé, Nivedita Balu, Christina Fincher Organizations: Citibank, New York Stock Exchange, REUTERS, Rights, Citigroup Inc, Reuters, Citi, Citi Private Bank, Thomson Locations: Manhattan , New York City, U.S, Canada, Toronto, North America

☆ US third-quarter economic growth seen fastest in nearly 2 years
▼ + stars: | 2023-10-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

While the anticipated robust growth pace notched last quarter is probably not sustainable, it would demonstrate the economy's resilience despite aggressive interest rate hikes from the Federal Reserve. According to a Reuters survey of economists, GDP likely increased at a 4.3% annualized rate last quarter, which would be the fastest since the fourth quarter of 2021. Others are not too concerned, noting the labor market continues to churn out jobs at a solid clip. Growth last quarter was also seen lifted by a smaller trade deficit, thanks to strong exports and increased inventory investment. But the labor dispute, which is costing auto makers millions of dollars per week, could weigh on growth in the fourth quarter.

Persons: Andrew Kelly, Joe Biden's, Sal Guatieri, Luke Tilley, it's, Yelena Shulyatyeva, Brian Bethune, Lucia Mutikani, David Gregorio Our Organizations: REUTERS, Business, WASHINGTON, Federal Reserve, United Auto Workers, BMO Capital Markets, Consumer, Wilmington Trust, Labor, Labor Department, U.S, Treasury, Financial, Group's, BNP, Boston College, Thomson Locations: Brooklyn , New York City, U.S, Toronto, American, Wilmington, Philadelphia, New York

[1/4] Harley-Davidson motorcycles are seen at a dealership in Queens, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Harley-Davidson Inc FollowOct 26 (Reuters) - Harley-Davidson Inc (HOG.N) on Thursday reported a 24% fall in third-quarter profit as customers cut back on discretionary spending due to higher borrowing costs and inflationary pressures. Harley has maintained margin growth through its wealthier customer base, but hasn't been as successful in luring younger riders. Sales from motorcycles and related products fell about 9% to $1.30 billion in the quarter ended Sept. 30. Earnings per share tracked by analysts came in at $1.38 per share in the third-quarter, slightly above expectations of $1.36.

Persons: Harley, Davidson, Andrew Kelly, hasn't, Baird, Kannaki, Bianca Flowers, Sriraj Kalluvila Organizations: REUTERS, Davidson, Harley, Polaris Inc, Global, Thomson Locations: Queens , New York City, U.S, North America, Bengaluru, Chicago

☆ Chipotle quarterly results shine as burrito cravings defy high prices
▼ + stars: | 2023-10-26 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

[1/3] People are served in a Chipotle outlet in Manhattan, New York City, U.S., February 7, 2022. Chipotle said it has not seen any material impact from weight-loss drugs. While consumers taking weight-loss treatments consume fewer calories, "it's important the calories they do consume are coming from clean food. Chipotle forecast fourth-quarter comparable sales growth in the mid- to high-single-digit range, compared with estimates of a 5.38% rise. Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra Eluri and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Brian Niccol, Chipotle, Sante Faustini III, we're, Niccol, Deborah Sophia, Krishna Chandra Eluri Organizations: REUTERS, Thomson Locations: Manhattan , New York City, U.S, California, Bengaluru

☆ Capital One beats profit estimates on interest income boost
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Signage is seen outside a Capital One Bank in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 26 (Reuters) - Capital One Financial (COF.N) on Thursday sailed past estimates for third-quarter profit as the consumer lender charged higher interest rates on loans, sending its shares up more than 4% in extended trading. Capital One's interest income climbed 6% to $7.42 billion in the quarter, compared with about $7 billion a year earlier. In line with broader industry trends, higher deposit costs led to net interest margin contracting to 6.69% versus 6.80% in the year-ago quarter. Capital One reported adjusted earnings of $4.45 per share in the three months ended Sept. 31.

Persons: Andrew Kelly, Manya Saini, Anil D'Silva Organizations: One Bank, REUTERS, Thursday, U.S . Federal Reserve, Thomson Locations: Manhattan , New York, U.S, Bengaluru

☆ Goldman Sachs forays into geopolitical advisory business
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 26 (Reuters) - Goldman Sachs (GS.N) on Thursday launched an institute to offer its clients insights on geopolitics and technology, according to an internal memo seen by Reuters. The Goldman Sachs Global Institute will be led by Jared Cohen and George Lee, partners at the U.S. banking heavyweight, the memo said. Apart from Goldman Sachs, independent investment firm Lazard (LAZ.N) has been advising its clients on geopolitical risks. The Goldman Sachs Global Institute will partner with leaders across businesses to engage with clients on a range of topics from the U.S.-China relationship, conflicts in Europe and the Middle East and shifting supply chains, the memo added.

Persons: Goldman Sachs, Andrew Kelly, Goldman, Jared Cohen, George Lee, Lazard, Jaiveer Singh, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Reuters, Goldman Sachs Global, Goldman Sachs Global Institute, U.S ., Thomson Locations: New York City , New York, U.S, Ukraine, China, Europe, Bengaluru

☆ 'Barbie' boom helps Mattel lift annual profit target after bumper sales
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Barbie dolls, a brand owned by Mattel, are seen at the FAO Schwarz toy store in Manhattan, New York City, U.S., November 24, 2021. The company now expects annual adjusted earnings per share between $1.15 and $1.25, compared with its previous forecast of $1.10 to $1.20. read moreWorldwide gross billings, or the amount invoiced to customers, for Mattel's Dolls segment rose 24% in constant currency for the quarter. Mattel slightly raised its annual adjusted gross margin target to between 47% and 48%, after margins for the quarter ended Sept. 30 rose 270 basis points to 51%. Adjusted profit per share came in at $1.08, beating analysts' estimate of 86 cents, according to LSEG data.

Persons: Barbie, FAO Schwarz, Andrew Kelly, Ynon Kreiz, Kreiz, Juveria Tabassum, Devika Organizations: Mattel, FAO, REUTERS, Reuters, Thomson Locations: Manhattan , New York City, U.S

The company's third-quarter sales volumes were also up against a tough comparative period from last year, when the recall of a rival U.S.-based company's infant formula boosted sales of Reckitt's Enfamil products there. Reckitt said quarterly like-for-like net sales rose 3.4%, behind the 3.7% growth analysts had expected in a company-supplied poll. Rival consumer products makers who have raised prices over the past two years have said in recent weeks that sales volumes could soon see improvements. The price/mix for Reckitt's products, which include Nurofen tablets and Durex condoms, rose 7.5%. Volumes declined 4.1% compared with last year.

Persons: Andrew Kelly, Reckitt, Kris Licht, Bernstein, Bruno Monteyne, Richa Naidu, Jason Neely, David Evans, Helen Popper Our Organizations: Benckiser, REUTERS, Wednesday, Thomson Locations: Manhattan , New York City, U.S

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. The SEC has been seen to be increasingly aggressive in policing markets under Gensler. Last year's enforcement activity included a series of high-profile cases against crypto firms and executives including FTX founder Sam Bankman-Fried and Binance founder Changpeng Zhao. The SEC also barred 133 individuals from serving as directors and officers, the highest in a decade, Gensler said. The agency is expected to publish its full enforcement report sometime next month.

Persons: Andrew Kelly, Gary Gensler, Gensler's, Sam Bankman, Changpeng Zhao, Gensler, Chris Prentice, Jonathan Oatis Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Rights, SEC, Gensler, McDonald's Corp, Thomson Locations: Washington ,

☆ Goldman names Kamo as global head of dealmaking for financial sponsors
▼ + stars: | 2023-10-24 | by ( David French | ) www.reuters.com time to read: +1 min

[1/2] People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 24 (Reuters) - Goldman Sachs Group Inc (GS.N) has appointed David Kamo as its global head of financial sponsor mergers and acquisitions within its investment bank, according to a memo seen by Reuters on Tuesday. As well as assuming his new global role with financial sponsors, Kamo will continue heading cross markets M&A for Goldman, the memo added. The cross markets group is the bank's unit which focuses on advising middle-market businesses. Kamo joined Goldman in 2016 and became a partner at the Wall Street giant in 2020.

Persons: Goldman Sachs, Andrew Kelly, David Kamo, Goldman, Kamo, David French, Nick Zieminski Organizations: REUTERS, Goldman Sachs Group Inc, Reuters, Lehman Brothers, Barclays, Thomson Locations: Manhattan , New York, U.S, New York

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