Services news & headlines

Mastercard Inc. (NYSE: MA) reported its financial results for the fiscal third quarter on Wednesday that came in weaker than what analysts had anticipated. The company attributed the decline to the Coronavirus pandemic that continued to weigh on travel spending in Q3. COVID-19 has so far infected more than 44 million people worldwide and caused over 1.17 million deaths. Shares of the company were reported about 5% down in premarket trading on Wed...

United Parcel Service Inc. (NYSE: UPS) published its earnings report for the fiscal third quarter on Wednesday that topped analysts’ estimates for earnings and revenue. The company said that all three business segments performed better than forecasts in the recent quarter. Shares of the company tanked close to 5% in premarket trading and lost another 2% on market open. On a year to date basis, the U.S. company is now more than 35% up in the stock...

Twilio Inc. (NYSE: TWLO) said on Monday that its revenue in the fiscal third quarter came in stronger than Wall Street expectations. The company attributed higher revenue in Q3 to the Coronavirus pandemic that made businesses resort to work from home arrangements and resulted in increased demand. COVID-19 has so far infected more than 8.9 million people in the United States and caused over 230 thousand deaths. In an earlier announcement in Octobe...

SAP SE (ETR: SAP) said on late on Sunday that its sales and profit in the quarter that concluded on 30th September came in lower than expected. The company attributed the decline to the ongoing Coronavirus pandemic that weighed on demand in recent months. Shares of the company opened close to 20% down in the stock market on Monday. On a year to date basis, SAP SE is now more than 15% down. It is now trading at £92.51 per share versus a low of £82...

Verizon Communications Inc. (NYSE: VZ) said on Wednesday that the pandemic had minimal impact on its wireless churn rates in recent months, as it reported earnings that topped estimates for the fiscal third quarter. Shares of the company were reported 0.3% up in premarket trading on Wednesday. On a year to date basis, Verizon Communications is now roughly 4% down in the stock market, but have recovered 15% since late March. Interested in investin...

Netflix Inc. (NASDAQ: NFLX) said on Tuesday that new subscribers in the fiscal third quarter were significantly less than expected as it reported earnings that missed expectations. Analyst Heath Terry of Goldman Sachs had raised his price target on Netflix stock last week. Shares of the company slid close to 6% in extended trading on Tuesday. At £380 per share, Netflix is now more than 50% down year to date in the stock market. In comparison, it...

Serco Group plc (LON: SRP) reported better than expected results for the fiscal third quarter on Friday. The company attributed its quarterly success to cost cut measures, hawkish performance in the United States and extensions on its contracts in the U.K. Serco also raised its profit and revenue guidance for the full financial year on Friday. Shares of the company closed more than 3% up on Friday at 138 pence per share. On a year to date basis,...

In an announcement on Thursday, Hays plc (LON: HAS) said that its net fees in the fiscal first quarter remained under pressure due to the ongoing Coronavirus pandemic that has so far infected more than 38 million people worldwide and caused over a million deaths. Hays plc slid close to 0.5% in premarket trading on Thursday and lost another 1.5% on market open. Including the price action, shares of the company are now exchanging hands at 113 pence...

In a financial update on Wednesday, Bunzl plc (LON: BNZL) revealed a 4.0% annualised growth in its third-quarter revenue at actual exchange rates. At constant exchange rates, the increase in revenue came in at a much higher 8.8%. Bunzl jumped close to 4% in premarket trading on Wednesday and gained another 1.5% on market open. Including the price action, shares of the company are now exchanging hands at £26.50 per share that represents a more tha...

In an announcement on Monday, Twilio Inc. (NYSE: TWLO) said it will acquire Segment (customer data infrastructure company) for £2.46 billion in Twilio Class A common stock. The transaction is likely to be completed before the start of 2021. CEO Jeff Lawson of Twilio commented on the news on Monday and said: “Data silos destroy greater customer experiences. Segment lets developers and companies break down those silos and build a complete picture o...

Paychex Inc (NASDAQ: PAYX) published its earnings report for the fiscal first quarter on Tuesday that highlighted a decline in profit and revenue but one that was narrower than expected. The company said that signed of recovery after months of halt due to the Coronavirus pandemic have been evident in recent weeks as it gave upbeat guidance for the full financial year. Shares of the company were reported 0.2% up in premarket trading on Tuesday. Pa...

Sources confirmed on Friday that Airbnb Inc. intends to raise close to £2.32 billion in its IPO (Initial Public Offering) later this year. The home rental company saw a significant recovery in its business in recent months after the governments started to ease COVID-19 restrictions. Airbnb is expected to be one of the largest IPOs in the United States this year. The American vacation rental online marketplace had originally declared to have confi...

Twilio Inc. (NYSE: TWLO) said on Friday that it is aiming for annual growth of a minimum of 30% in the next four years. The announcement came only a day after the company forecast a higher revenue in the fiscal third quarter than its August’s estimate of up to £313.80 million. Twilio opened about 8% up on Friday. The stock continued the rally and gained another 5% later in the day. Including the price action, it is now exchanging hands at £224 pe...

IHS Markit (NYSE: INFO) published its quarterly results for the fiscal third quarter on Tuesday before the bell that topped analysts’ estimates for earnings and revenue. The financial information and analytics provider registered £127.61 million of net income in Q3 that translates to 31.90 pence of diluted earnings per share. At a per-share price of £62.54, IHS Markit has recovered close to 80% since March when it touched a year to date low of £3...

Transport for London revoked Uber’s (NYSE: UBER) license to operate in the capital late last year citing safety breaches. After months of legal battle, Uber finally had its license reinstated in London on Monday as a judge rescinded the regulator’s ban on the American ride-hailing service. Last year was the second time TfL had banned Uber’s operations in London. The regulator had also raised concerns in 2017 on Uber’s measures to ensure passenger...

Chesnara plc (LON: CSN) said on Monday that its solvency position and cash reserves remained undisturbed in the fiscal first half that concluded in June. On the back of robust financial stature, the company decided in favour of raising its dividend on Monday. Chesnara opened about 3.5% up on Monday but lost the majority of its intraday gain in the next hour. Including the price action, it now has a per-share price of 271 pence that represents an...

In an announcement on Friday, Pennon Group plc (LON: PNN) said its fiscal first-half performance continued to match its internal expectations. Shares of the company jumped about 2% in the morning session. Including the price action, Pennon Group is now trading at £10.45 per share versus £10.26 per share at the start of the year. At the time of writing, the British company has a market cap of £4.40 billion and has a price to earnings ratio of 37.7...