The largest brewery in the world, Anheuser-Busch InBev NV reported net profit for the third quarter, which exceeded market expectations, thanks to cost cuts and higher prices of its brands, which offset declining sales of Budweiser and Bud Light. Net profit company based in Belgium amounted to 1.55 billion dollars for the third quarter. Manual did not provide data on its financial results for the same period last year, when purchased for 52 billion U.S. brewer Anheuser-Busch, forward Bloomberg. Analysts expected the brewer to take into account profits from 1.39 billion dollars. The leadership of AB InBev managed to reduce its costs by 265 million dollars thanks to the merger between two companies and reduce the number of employees in marketing and administrative department. Leadership plans to cut costs by $ 1 billion this year and a total of 2.25 billion dollars over the next three years. Revenues decreased by 10.4% yoy to 9.76 billion dollars, which was less than the expected 10.11 billion dollars. The volume of sales decreased by 3.3% yoy in the third quarter, led by strong annual decline of 16.8 percent in Central and Eastern Europe.
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Metro, which is Germany’s largest chain of retail sales, announced that profits for the third quarter declined by 61 percent because of rising levels of unemployment and subsequent contraction of spending by consumers. The positive financial result of the Company for the period July-September was up 72 million or 22% of shares in 183 million EUR or 39 profit for the same period last year. Results jolt the market, we expect profits to be 89 million EUR. The revenue for the period decreased by 4.6 percent to 15.6 billion dollars. Retail sales in Germany, whence comes 40% of the proceeds of the Metro, celebrated a second successive month of decline in September. The decline of the Russian ruble and the Polish zloty also contributed to poor results, indicating the company. Yesterday the company’s shares fell by 26 cents, or 0.7 percent to 37.50 EUR, which limited their annual growth to 31%.
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MasterCard, which is the second largest global network payment (after Visa), reported higher profit than analysts’ unlikely because of the increased number of citizens using non-cash payments. The positive financial result of the Company for the period July-September was 452.2 million dollars or 3.45 dollars per share, which is quite good compared with the reported loss of 1.93.6 million for the same period of 2008. Excluding one-time costs, the profit of the company has 456 mln dollars or 3.48 dollars in market expectations of 2.93 dollars per share. Transactions processed by the company during the third quarter amounted to EUR 5.8 billion and compared with the same period last year grew by 7.6%. Revenue amounted to 1.36 billion dollars. Results announced after the company’s shares jumped 3.63 dollars or 1.7 percent to 222.65 dollars after grew by 56 percent this year.
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McDonald’s, which is the largest chain of fast food resturanti in the world, said profit for the third quarter by 5.9 percent over the same period last year. The company’s net profit amounted to 1.26 billion dollars or 1.15 percent per share 1.19 billion and 1.05 dollars per share. Company revenue for the period decreased by 3.5% to 6.05 billion dollars. Analysts forecast a profit of 1.11 dollars per share. In the United States in recent months, the company counts on its new range of products, which includes the McCafe espresso and largest sandwich came out until now Angus. After the data the company’s shares jumped by 2.5 percent to 59.80 dollars as the beginning of the year decreased by 6.2%.
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One of the largest pharmaceutical companies in the world – the U.S. Merck, has tripled its profits in the third quarter. The reason for this lies in the successful sale of its subsidiary for Merial Veterinary Medicine of the French pharmaceutical company Sanofi-Aventis SA. Merck’s net profit for the period from July to September jumped to 3.46 billion dollars or 1.61 dollars a share, from profit of 1,12 billion, or 51 cents per share for the third quarter of 2008 After excluding one-off effects of earnings per share amounted to 90 cents. This proved to 8 cents more than the expectations of market analysts, cited by Bloomberg. Revenue of New Jersey-based company rose by 2 percent annually to $ 6 billion as Merck won 1.7 billion dollars from the sale of its subsidiary company, Merial. Merck plans to acquire 41 billion dollars against rival Schering-Plough by the end of this year. Schering-Plough published earlier today its financial results for the third quarter, which showed a profit decline of 16% to 515 million dollars, or 29 cents a share.
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The Industrial company 3M Co, which produces over 55 000 different products, reported third-quarter profit that surpassed analysts’ expectations. Net profit for the third quarter of 3M is 957 million dollars or 1.35 dollars per share in earnings per share of 1.41 dollars for the same period last year. If you exclude certain one-off effects, profit of the company is 1.37 dollars per share, the average Wall Street expectations were for earnings of 1.17 dollars per share. 3M sales fell by 5.6 percent annually to 6.2 billion dollars. Since the beginning of the conglomerate in 2008 was shortened 5 800 jobs in order to optimize the cost. 3M’s shares started today’s session of the New York Stock Exchange to rise from 38 cents to 76.33 dollars. Since the beginning of the year they rose by 33 per cent. While 3M raise profit forecasts for the entire 2009 years of 4,5-4,55 dollars per share. The company’s previous forecast was for profit of 4,1-4,3 dollars per share.
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Italian Fiat automobile concern announced that for the third quarter of the year, sales revenue fell by 62 percent, and the reason for this is mostly a partnership with Chrysler Group, wrote in an online version of newspaper Wall Street Journal. The report of the company shows that its net profit in the third quarter fell nearly 19 times – up to 25 million, compared to 468 million EUR a year earlier. Revenue fell to 12 billion euro, 14.3 billion EUR a year ago at this time. “The company may reconsider the viability of investments made and planned, and even lead to their reduction,” he wrote in a message distributed to the media of concern. Because of this Fiat forecasts that revenue from sales by the end of the year will fall by another 1 billion EUR and losses of the Group will reach 5 billion EUR.
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The main stock indexes in the United States fell in early on the last trading session this week, after the financial results of General Electric and Bank of America disappoint investors, and the index of consumer confidence in the University of Michigan unexpectedly decreased. As a result, Dow Jones IA away from the one-year peak, which subdued during yesterday’s session. Two hours after the start of trading the index of the 30 largest companies on the New York Stock Exchange decreased by nearly 1 percent to 9962.9 points. The wider S & P 500 retreated further to 1.1 percent to 1084.2 points while the index of companies by the exchange Nasdaq – Nasdaq Composite, lost 1.3 percent to 2145.5 points. Financial and technology companies are ranked among the top companies in the losers of the session. The loss of the largest in size of its assets to U.S. Bank Bank of America for the third quarter was greater than expected. Investors ignored the good financial results on Google and IBM, and the rise of industrial production by 0.7 percent in September.
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Good start of the reporting season in the United States raised the bar on market expectations. Economic data and quarterly financial results that will come out this week, will undergo a serious test of investor confidence in the state of the economy. Furthermore, during this and next week at most public companies will publish their financial results. The week will begin with reports of Apple technology company and a statement of the Federal Reserve chairman Ben Bernanke in Asia on financial crisis. Total 135 companies or 27% of the index S & P 500 will report its financial results over the next seven days. Among them most are emerging from American Express, Microsoft, McDonald’s, Pfizer, 3M and Coca-Cola. Other big names that will be monitored closely by the markets are Yahoo, Wells Fargo, UPS, Amazon and eBay. Once reached its lowest value for the last 12 years in March, broader index S & P 500 rose by 61 percent over the next seven months. According to data from Thomson Reuters 79% of companies in the composition of the S & P 500 that have published their third-quarter results so far have surpassed market expectations. The best companies are presented in the financial sector. Market analysts expect that profits of financial companies will increase on average by 100% yoy in the third quarter after the autumn of last year’s financial crisis reached its peak forward CNN.
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The largest U.S. bank Bank of America reported second loss within one year. For the period July September financial institution has a negative financial result of 1 billion dollars or 26 cents a share. The last loss was reported for the fourth quarter of 2008. The result of the previous quarter, in contrast to profit of 1.18 billion dollars for the same period of 2008, analysts expect losses to be at the rate of 12 cents per share. The quarterly report will be the last that will be the responsibility of the current CEO Kenneth Lewis, who left the institution at the end of the year because of criticism that suffered after the acquisition of Meriil Lynch. Exactly acquired at the beginning of this year, investment bank has contributed to smaller losses in this quarter because of good results from trading in shares, debt securities and currencies.
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