Equities were mixed in Asia Pacific trading on Wednesday despite a positive lead-in from Wall Street, where strong results from Netflix and others helped to dispel early nerves over new US tariffs on some white goods and solar panels and push the S&P 500 to another record high close.
United Continental shares fell sharply on news of stronger than expected capacity growth for the next three years, giving up share price gains earlier in the day when the US airline beat market expectation for fourth quarter earnings.
Japan, Canada and nine other Pacific Rim economies have offered a rebuke to Donald Trump, declaring they had solved their differences and would press on with an expansive new trade deal on the first anniversary of the US president’s withdrawal.
United Continental shares rose in after-rmarket trading after the carrier beat market expectations for fourth-quarter earnings. UPDATE: United Continental shares have since reversed those gains and are trading down 6.5 per cent.
Texas Instruments’ quarterly earnings dropped 67 per cent due to unexpected tax expenses on the heels of the latest legislative overhaul, sending the US-based chipmaker’s shares lower in after-hours trading.
Johnson & Johnson shares were headed for their worst day in nearly nine years on Tuesday amid confusion over its outlook after the company said sales of its blockbuster arthritis drug Remicade continued to fall in the fourth quarter.
Walt Disney is the latest US company to pay forward its tax bill savings, announcing on Tuesday that it would give 125,000 employees a $1,000 cash bonus and putting $50m into a new programme to help cover tuition fees for hourly workers.
Venezuela looks increasingly likely to hold presidential elections in the next few months after the pro-government congress, the Constituent Assembly, voted on Tuesday in favour of polls before the end of April.
Verizon on Tuesday said it expects to boost its cash flow this year by between $3.5bn to $4bn on the back of the largest US tax overhaul in decades, as it reported quarterly sales that topped analysts’ estimates but said its adjusted earnings turned up short.