The Trump Organization, responding to claims that some of its workers were in the U.S. illegally, says it will use the E-Verify electronic system at all of its properties to check employees’ documentation and more in Wednesday’s Markets In Brief.
Executive Vice President Eric Trump said in a statement provided to The Associated Press on Wednesday that the company takes its obligation to confirm workers’ immigration status “very seriously.”
A lawyer for a dozen immigrant workers at the Trump National Golf Club in New York’s Westchester County said recently that they were fired on Jan. 18. He said many had worked there for a dozen or more years.
Workers at another Trump club in New Jersey came forward last month to allege managers there had hired them knowing they were in the country illegally.
MARKETS IN BRIEF
Survey: Businesses Added a Strong 213,000 Jobs in January
U.S. businesses added a solid 213,000 jobs in January, a private survey found, a sign the partial government shutdown and trade war concerns aren’t discouraging companies from hiring more people.
Payroll processor ADP said Wednesday that job gains fell in January from a robust 263,000 in December, which was revised slightly lower.
ADP’s report does not include government employees and therefore was not directly affected by the government shutdown. Instead, the data suggests that the shutdown did not broadly discourage private companies from adding workers. Still, the ADP report frequently diverges from the official figures.
The report was released two days before the government issues its official monthly jobs numbers Friday. Economists are forecasting a smaller gain of 164,000, though that is enough to lower the unemployment rate over time.
McDonald’s Logs Strong Growth Globally
McDonald’s is reporting strong global growth in sales at established locations and it’s topped expectations for both profit and revenue.
The world’s biggest hamburger chain on Wednesday reported fourth-quarter earnings of $1.42 billion, or $1.82 per share.
Adjusted for one-time gains and costs, came to $1.97 per share, which is 7 cents better than industry analysts had expected, according to a poll by Zacks Investment Research.
Revenue was $5.16 billion, matching forecasts.
McDonald’s Corp. recorded global same-store sales growth of 4.4 percent.
Siemens Profit Falls on Taxes, Lower Demand for Turbines
Germany’s Siemens AG says net profit fell by half in the most recent quarter, to 1.12 billion euros ($1.28 billion), as the company saw higher taxes and falling demand for its big-ticket power turbines.
Net profit for the quarter ending Dec. 31, the company’s fiscal first, was off 49 percent from 2.21 billion euros in the year-earlier quarter when the company booked U.S. tax gains and saw one-time revenue from share sales. Revenue fell 1 percent to 20.1 billion.
Siemens CEO Joe Kaeser on Wednesday cited stronger order intake as a positive for future earnings but said the company has “much to do” to achieve industry-leading profit margins across its businesses. Siemens makes power generating and transmission equipment, factory automation systems, medical scanners, and trains.
Royal Caribbean: 4Q Earnings Snapshot
Royal Caribbean Cruises Ltd. (RCL) on Wednesday reported fourth-quarter profit of $315.7 million.
On a per-share basis, the Miami-based company said it had profit of $1.50. Earnings, adjusted for non-recurring costs and amortization costs, came to $1.53 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.
The cruise operator posted revenue of $2.33 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $2.31 billion.
For the year, the company reported profit of $1.81 billion, or $8.56 per share. Revenue was reported as $9.49 billion.
For the current quarter ending in April, Royal Caribbean expects its per-share earnings to be $1.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.15.
The company expects full-year earnings in the range of $9.75 to $10 per share.
Royal Caribbean shares have risen 15 percent since the beginning of the year. The stock has fallen 17 percent in the last 12 months.
Sirius XM: 4Q Earnings Snapshot
Sirius XM Holdings Inc. (SIRI) on Wednesday reported fourth-quarter net income of $251.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of 6 cents.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 6 cents per share.
The satellite radio company posted revenue of $1.5 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $1.48 billion.
Sirius XM expects full-year revenue of $6.1 billion.
Sirius XM shares have risen 0.5 percent since the beginning of the year. The stock has dropped 4 percent in the last 12 months.
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