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TOP NEWS SUMMARY: US Senate to debate stimulus; OPEC to meet on output

TOP NEWS SUMMARY: US Senate to debate stimulus; OPEC to meet on output
Tue, 2nd Mar 2021 11:00
(Alliance News) - The following is a summary of top news stories Tuesday.
COMPANIES
Ashtead guided to full-year results ahead of previous expectations. The equipment rental firm said that in the third quarter, underlying rental revenue was down 1% at GBP1.08 billion, with underlying pretax profit down 10% to GBP225 million. Statutory revenue was down 1% to GBP1.21 billion for the third quarter and down 2% to GBP3.76 billion for the nine-month period to January 31. Statutory pretax profit was down 4% to GBP210 million in the third quarter and down 17% to GBP716 million in the nine months. "This performance illustrates the successful execution of our long-term strategy, which we embarked upon after the last recession, to broaden and diversify our end markets and strengthen our balance sheet. This has enabled us to capitalise on our increasing scale while, at the same time, maintaining the business' agility," said Chief Executive Brendan Horgan.

Germany , Australia , Japan , Ashtead , Surrey , United-kingdom , Saudi-arabia , Ireland , Russia , London , City-of , Australian

Zoom Is Selling $1.5 Billion of Stock. Its Shares Are Down 40% Since October.

Microsoft
(MSFT), as well as worries about how much the company’s growth will slow as the economy reopens.
During the pandemic, at least, Zoom has continued to produce spectacular growth—for the fiscal third quarter ended Oct. 31, it posted revenue of $777.2 million, up 367% from a year ago. For the fiscal fourth quarter ending in January, Zoom is projecting revenue of $806 million to $811 million, with non-GAAP profits of 77 to 79 cents per share. Wall Street consensus calls for $814.4 million in revenue and profits of 80 cents per share.
Prior to the offering announced today, Zoom had about $1.87 billion in cash and marketable securities, and no long-term debt.

Ericj-savitz , Video-communications-on , Video-communications , Cisco-systems , Zoom-phone , Energy , Crude-oil-natural-gas-upstream-operations , Natural-gas-exploration , Computers-consumer-electronics , Software , Applications-software