GBP/USD is trading at 1.3124, down 0.0137.
The pair is trading near the session lows in a rangebound fashion.
The International Monetary Fund (IMF) lowered the U.K. 2017 growth to 1.3 percent versus 2.2 percent previously.
The IMF reduced 2016 global growth to 3.1 percent versus 3.2 percent citing issues related to Brexit. The IMF also cut 2017 global growth by 0.1 percent to 3.4 percent.
Posted-In: british pound GBP/USDFutures Forex Markets
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Best Airline Companies To Watch For 2017: Cinemark Holdings Inc(CNK)
Cinemark Holdings, Inc. and its subsidiaries engage in the motion picture exhibition business. As of June 30, 2011, it operated 436 theatres with 4,983 screens in 39 states of the United States, as well as in Brazil, Mexico, and 11 other Latin American countries. The company is headquartered in Plano, Texas.
- [By Monica Gerson]
Cinemark Holdings, Inc. (NYSE: CNK) is projected to report its quarterly earnings at $0.46 per share on revenue of $699.23 million.
Aecom (NYSE: ACM) is expected to report its quarterly earnings at $0.72 per share on revenue of $4.55 billion.
Best Airline Companies To Watch For 2017: T-Mobile US, Inc.(TMUS)
T-Mobile US, Inc., together with its subsidiaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services in the postpaid, prepaid, and wholesale markets. It also provides wireless devices, such as smartphones, tablets, and other mobile communication devices, as well as accessories, which are manufactured by various suppliers. It offers services, devices, and accessories through its owned and operated retail stores, as well as through its Websites. T-Mobile US, Inc. also sells its devices and accessories to dealers and other third party distributors for resale through independent third-party retail outlets and various third-party Websites. The company provides its services under the T-Mobile and MetroPCS brands. As of December 31, 2014, it provided services to approximately 55 million customers. T-Mobile US, Inc. was founded in 1994 and is headquartered in Bellevue, Washington. T-Mobile US, Inc. operates as a subsidiary of Deutsche Telekom AG.
- [By Kimberly Lankford]
All current and new customers will receive at least one share of T-Mobile stock, and customers who refer new members can receive up to 100 extra shares per year. T-Mobile (TMUS) is currently selling at about $42 per shareup 8.6% over the past year and 24% over the past three yearsbut the gift could make tax filing more difficult. It can complicate your tax situation if you have an otherwise simple tax return, says Laurie Ziegler, an enrolled agent and managing member of Sass Accounting LLC, in Saukville, Wis.
- [By Andrea Tse]
Despite Verizon consistently being able to keep churn rates at very low levels over the last decade, rates have edged up compared to five years ago. The company’s churn rate for retail postpaid customers came in at 0.93% and 0.97% for the three months and six months ended June 30. Five years ago during the same period, the figures were at 0.83% and 0.88%, respectively. The latest wireless churn rate data on other telecom companies show T-Mobile USA (TMUS) coming in at 1.6% and 1.8% during those same periods, and AT&T’s arriving at 1.02% and 1.03% and almost rivaling Verizon’s during those respective time frames. In any case, Verizon still has the chance to prove that it’s able to beat its own churn rate lows again in the coming years. [Read: Blackberry Fails at the ‘Vision Thing’]
Top 10 Machinery Companies To Watch For 2017: Gilead Sciences, Inc.(GILD)
Gilead Sciences, Inc., a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical needs in North America, South America, Europe, and the Asia-Pacific. The companys products include Genvoya, Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, Tybost, and Vitekta for the treatment of human immunodeficiency virus (HIV) infection in adults; and Harvoni, Sovaldi, Viread, and Hepsera products for the treatment of liver diseases. It also offers Zydelig, a PI3K delta inhibitor, in combination with rituximab, for the treatment of certain blood cancers; Letairis, an endothelin receptor antagonist for the treatment of pulmonary arterial hypertension; Ranexa, a tablet used for the treatment of chronic angina; Lexiscan/Rapiscan injection for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging; Cayston, an inhaled antibiotic for the treat ment of respiratory systems in cystic fibrosis patients; and Tamiflu, an oral antiviral capsule for the treatment and prevention of influenza A and B. In addition, the company provides other products, such as AmBisome, an antifungal agent to treat serious invasive fungal infections; and Macugen, an anti-angiogenic oligonucleotide to treat neovascular age-related macular degeneration. Further, it has product candidates in various stages of development for the treatment of HIV/AIDS and liver diseases, such as hepatitis B virus and hepatitis C virus; inflammation/oncology; serious cardiovascular; and respiratory conditions, as well as diabetic nephropathy and ebola. The company markets its products through its commercial teams and/or in conjunction with third-party distributors and corporate partners. Gilead Sciences, Inc. has collaboration agreements with Bristol-Myers Squibb Company, Janssen R&D Ireland, Japan Tobacco Inc., and Galapagos NV. The company was founded in 1987 an d is headquartered in Foster City, California.
- [By Ben Levisohn]
Morgan Stanley’s Matthew Harrison expects Gilead Sciences (GILD) to disappoint investors when it releases earnings on July 25. He explains why:
Gilead will announce its 2Q Earnings and hold its conference call on Monday, July 25…Gilead is driven by Hepatitis C virus and HIV sales. We see HCV sales ~$200M below consensus due to continued pricing pressure globally and lower market share in Europe. The pricing pressure comes from a more negative mix shift in the US from greater Veterans Administration volumes (discounts ~75%) and 8 week usage which is 33% less than a full course of drug, a full quarter of the 32% price cut in Japan vs. one month in 1Q16, and a negative mix shift in Europe to lower-priced countries in Southern Europe. Lower market share in Europe is a result of aggressive price competition from AbbVie (ABBV)…
We expect revenues of $7,572M, EBITDA of $5,022M, and non-GAAP Net Income of $3,961M for an EPS of $2.80. For EPS, we are 3.7% below consensus driven by lower HCV sales…
Shares of Gilead Sciences have fallen 1.1% to $85.95 at 11:29 a.m. today, while AbbVie has declined 0.3% to $63.36. The iShares Nasdaq Biotechnology ETF (IBB) is off 1% at $270.71.
Barron’s Vito Racanelli made the bull case for Gilead in this past weekend’s issue of the magazine.
- [By Ben Levisohn]
We explained how Gilead Sciences (GILD) is still dominating hepatitis C, how Chesapeake Energy (CHK) is pulling the right levers, and why there could be trouble ahead for U.S. Steel (X).
Best Airline Companies To Watch For 2017: Unilever PLC(UL)
Unilever PLC operates as a fast-moving consumer goods company in Asia, Africa, Europe, and the Americas. It offers personal care products, including skin care and hair care products, deodorants, and oral care products under the brand names of Axe, Brylcreem, Dove, Fissan, Lifebuoy, Lux, Pond’s, Radox, Rexona, Signal & Close Up, Simple, St Ives, Sunsilk, TRESemm, Vaseline, and VO5. The company also provides home care products comprising laundry tablets, powders and liquids, soap bars, and a range of cleaning products under the Cif, Comfort, Domestos, Omo, Radiant, Sunlight, and Surf brand names. In addition, it offers food products consisting of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads, as well as cooking products, such as liquid margarines. The company markets its food products under the brand names of Becel/Flora, Bertolli, Blue Band, Rama, Hellmann?s, Amora, and Knorr. Further, it provides refreshment products, which includ e ice cream, tea-based beverages, weight-management products, and nutritionally enhanced staples under the brand names of Heartbrand, Lipton, and Slim Fast. Unilever sells its products through its own sales force, as well as through independent brokers, agents, and distributors to chain, wholesale, co-operative and independent grocery accounts, food service distributors, and institutions. The company, formerly known as Lever Brothers Limited, was founded in 1885 and is based in London, the United Kingdom. Unilever PLC is a subsidiary of The Unilever Group.
- [By Benzinga News Desk]
Unilever (NYSE: UL) signed an agreement to purchase Dollar Shave Club. In 2015, DSC had turnover of $152 million and is on track to exceed US$200 million in turnover in 2016.
- [By Ben Levisohn]
Strategic Rationale of Partnership Makes A Lot of Sense We believe with Anheuser-Buschs distribution strength,Starbucks will be able to expedite its plan to double its tea business to $2B by 2019 from ~$1B in FY15, especially given a potential halo effect we anticipate from the sale of Teavana at retail. Although this will beStarbucks’ first foray into retail with teas, the company is by no means a stranger to the channel as its coffees and Frappuccinos have been distributed at retail via a very successful partnership with PepsiCo (PEP). While some might questionStarbucks’ decision to partner withAnheuser-Busch vs PepsiCo, this makes sense to us givenPepsiCo is already bound to Unilever(UL)/Lipton on teas. Further, we believe this is a huge win forAnheuser-Busch given this partnership/opportunity fills a deep void theAnheuser-Busch distributors have had since losing the distribution of Monster Beverage (MNST) brands to Coca-Cola (KO). Ove rall, we believe this is a very powerful partnership between two formidable companies.