2026-02-10 22:32
Feb 10 (Reuters) - A county commission in Pennsylvania on Tuesday denied a request by Talen Energy (TLN.O) , opens new tab to rezone hundreds of acres of land for the development of data centers, marking the latest example of local pushback hampering the U.S. expansion of server warehouses. The rejection by Montour County commissioners follows months of opposition by residents in surrounding communities, who voiced concerns that the project would increase power bills and damage the environment. Sign up here. Talen, in a statement, said it would continue to pursue the development. "We appreciate the opportunity to continue conversations with Montour County leaders and residents about this proposed project," the company said. "This allows us to take the time to listen, incorporate feedback from the Commissioners, engage with the community, and refine our plans so they reflect local priorities." Local fights like the one around Montour are increasingly problematic for plans by the country's power industry and Big Tech, which is pouring hundreds of billions of dollars into building and powering data centers that will be used to train and roll out artificial intelligence technologies. Over the last year, companies including Microsoft and Meta have retreated from projects following community-level opposition. The Pennsylvania rezoning was expected to serve Amazon (AMZN.O) , opens new tab data centers near Talen's natural gas-fired power plant through an arrangement known as co-location, where data centers are located close to the power source. Talen, which operates nuclear and gas-fired power, currently provides electricity to an Amazon data center co-located near Talen's Susquehanna nuclear power plant elsewhere in Pennsylvania. "As is often the case after a rezoning request is rejected, we expect Talen and Amazon to either redouble their efforts in Montour County or pursue an alternative brownfield site elsewhere in Pennsylvania," analysts at consultancy Capstone said. https://www.reuters.com/sustainability/boards-policy-regulation/local-regulators-deny-rezoning-request-pennsylvania-data-center-development-2026-02-10/
2026-02-10 21:56
SAO PAULO/RIO DE JANEIRO, Feb 10 (Reuters) - Brazilian state-run oil firm Petrobras on Tuesday posted record exports of 1.2 million barrels per day (bpd) of oil and derivatives in its fourth quarter, surging about 79% from the same period the prior year. The record comes as the firm's oil production in Brazil rose about 20% in the same period to 2.5 million bpd, it said in a securities filing, allowing the state-run company to send more oil abroad. Sign up here. The firm had previously announced that its production for 2025 had surpassed its guidance for the year. Beyond the surge in production, Petrobras said the exports grew partly due to "ongoing work" to diversify the firm's client portfolio. The Brazilian oil major recently renewed a deal to provide Indian refiners with millions of barrels of oil. China continues to be the main destination, receiving about 52% of all Petrobras oil exports in the fourth quarter, up 22 percentage points from a year ago. India now represents about 12%, up from 7% in the fourth quarter of 2024. "In addition to India, the company has been increasing exports of different grades of oil to South Korea, Singapore, Thailand and, most significantly, to the European market", the firm said. But shipments to Europe declined to 13% of exports from 38% a year earlier, while those to the U.S. dropped to 3% from 9%. Petrobras reported total oil, gas and gas liquids production of 3.11 million barrels of oil equivalent per day (boed) in the fourth quarter of 2025, up about 18% from a year earlier. Petrobras also reported that total sales of oil, gas and derivatives in the quarter were around 19% higher year-on-year at 3.37 million bpd. The firm is set to release its fourth-quarter financial results on March 5. https://www.reuters.com/business/energy/petrobras-q4-oil-gas-output-rises-18-year-before-2026-02-10/
2026-02-10 21:51
MEXICO CITY, Feb 10 (Reuters) - Mexican telecom company America Movil (AMXB.MX) , opens new tab on Tuesday posted a more than 350% jump in profit for the fourth quarter of 2025, boosted by a swing to foreign exchange gains that helped slash its financing costs. America Movil, controlled by the family of Mexican billionaire Carlos Slim, reported net profit of 19.13 billion pesos ($1.1 billion) from revenue of 244.9 billion pesos ($14.2 billion). Sign up here. Analysts polled by LSEG had predicted dollar-denominated revenue of $13.33 billion. The company said in a statement its fourth-quarter financing costs fell by nearly half to 15.64 billion pesos, as foreign exchange results swung to a gain from a year-earlier loss. Earnings before interest, taxes, depreciation and amortization landed at 94.93 billion pesos ($5.52 billion) for the October-December period, slightly above analysts' $5.17 billion prediction. America Movil added 2.5 million mobile subscribers in the quarter, as 2.8 million postpaid additions more than offset a loss of about 300,000 prepaid users. ($1 = 17.20 Mexican pesos) https://www.reuters.com/business/media-telecom/mexicos-america-movil-posts-fourfold-jump-q4-profit-2026-02-10/
2026-02-10 21:40
HY underlying profit down 6%, but beats estimates Narrows FY26 outlook Divests telco assets to Aussie Broadband Shares rise 8% to over a month's high; among top gainers on the benchmark Feb 11 (Reuters) - Australian power producer AGL Energy (AGL.AX) , opens new tab narrowed its full-year earnings forecast on Wednesday, citing higher consumer margins and lower costs, while its first-half underlying profit beat analysts' estimates. Shares of the company rose as much as 8% to A$9.56, their highest level since January 6 in early trade, and were among the top gainers on the benchmark index. Sign up here. AGL expects the full-year forecast range for underlying net profit after tax to be between A$580 million and A$680 million ($410.23 million and $480.96 million), compared to its previous range of between A$500 million and A$700 million. The mid-point of the new range comfortably beats the Visible Alpha consensus estimate of A$589.5 million. AGL attributed the adjustment to stronger consumer margins in the first half, along with lower-than-expected operating costs and depreciation. The company, Australia's largest corporate carbon emitter, is also targeting A$50 million of sustainable net operating cost reductions in FY27. First-half underlying profit attributable came in at A$353 million, down from A$377 million a year earlier but ahead of the consensus forecast of A$307.4 million. AGL said improved availability and flexibility of its generation assets, along with better battery performance, helped counterbalance lower market volatility caused by milder weather and fewer transmission constraints. The Melbourne-headquartered firm also declared an interim dividend of 24 Australian cents per share, above the 23 Australian cents declared last year. AGL also entered into a long-term partnership with Aussie Broadband (ABB.AX) , opens new tab to divest its telecommunications business in exchange for proceeds of about A$115 million of shares in the internet service provider's shares. The company aims to simplify its customer operations and reduce ongoing costs through the transaction. Customers will be able to bundle their AGL energy and telco services, while also gaining access to Aussie Broadband's customer service and products, AGL said. The issuance of shares to AGL is expected to occur in June 2026, to coincide with the migration of AGL's customers to Aussie Broadband, it added. ($1 = 1.4138 Australian dollars) https://www.reuters.com/business/energy/australias-agl-energy-narrows-full-year-earnings-outlook-first-half-profit-falls-2026-02-10/
2026-02-10 21:09
Feb 10 (Reuters) - Robinhood's (HOOD.O) , opens new tab fourth-quarter revenue missed Wall Street expectations on Tuesday as a turbulent quarter for digital assets weighed on the company's crypto trading revenue, sending the retail brokerage's shares down 6.3% in after-hours trading. The Menlo Park, California-based company reported record revenue of $1.28 billion during the three months ended December 31, missing the analysts' consensus estimate of $1.34 billion, according to estimates compiled by LSEG. Sign up here. Individual investors have become a major force supporting equities markets, snapping up stocks during selloffs driven by AI bubble fears and geopolitical turmoil. However, not all asset classes benefit from persistent volatility. Robinhood's transaction-based revenue rose 15% to $776 million in the quarter, led by a 54% rise in equities revenue, while options climbed 41%. Quarterly revenue from crypto trading came in at $221 million, missing analysts' expectations of $248 million. The volatile sector has now struggled for months since a crash last October sent bitcoin nearly halving from its October 6 peak as leveraged positions were washed out. U.S. spot-bitcoin ETFs witnessed outflows of about $2 billion in December and $7 billion in November, Deutsche Bank analysts said in a note to clients. "For those customers that trade a lot, they're on the lower tier," Robinhood's finance chief Shiv Verma told Reuters in an interview, referring to the brokerage's pricing structure for crypto trading. "The active traders were still really active," said Verma, who took the top finance job last week, adding that those traders are the "lowest tier of pricing." "Because of that, the rebate rate that we got was a little bit lower relative to what folks were expecting." The results come amid a selloff across U.S. brokerages as AI-fueled disruption fears transcend software and IT stocks to financials. Brokerages, such as Robinhood and rival Public, have been making headway into the sector via their low-cost and tech-enabled offerings. Robinhood offers its Gold subscribers an AI-powered investing assistant that allows users to chat through trading ideas and enact orders. Gold subscribers increased 58% to 4.2 million in the quarter from the previous year. Robinhood's fourth-quarter profit came in at 66 cents per share, beating Wall Street estimates of 63 cents. https://www.reuters.com/business/finance/robinhood-reports-record-quarterly-revenue-retail-trading-strength-2026-02-10/
2026-02-10 21:09
Lyft's board approves $1 billion buyback Q4 adjusted core earnings up 37%, surpassing expectations Severe winter weather impacts Lyft's Q1 forecast Lyft reports surprise operating loss for 2025 Feb 10 (Reuters) - Lyft (LYFT.O) , opens new tab forecast first-quarter adjusted core profit below expectations on Tuesday, hit by severe U.S. winter weather, seasonal cost pressures, and posted a surprise operating loss for 2025, sending its shares down 16% in after-hours trading. The forecast marks a setback for the ride-hailing provider's comeback, fueled by a year of improving bookings growth, higher margins and expansion into new regions, and also overshadows a $1 billion share repurchase program. Sign up here. The weaker adjusted profit outlook reflects the impact of Winter Storm Fern, which disrupted travel across large parts of the U.S., particularly the East Coast, while seasonal cost pressures also weighed on the projection. California implemented changes that lower rideshare insurance costs statewide, effective January 1. However, the benefits from the change are expected to lag because the first quarter is seasonally weaker, with riders taking fewer trips and slower uptake of pricing improvements, CFO Erin Brewer said. Lyft reported an operating loss of $188.4 million in 2025, compared with analysts' expectations for a profit of $33.3 million, according to Visible Alpha data. The company expects adjusted core profit of $120 million to $140 million for the first quarter, below estimates of $139.4 million. "Uber, Lyft's main competitor, is growing earnings much faster than Lyft. Uber's EPS growth is 20% while Lyft's is only 13.7%," said Andrew Rocco, stock strategist at Zacks Investment Research. Lyft forecast gross bookings of $4.86 billion to $5 billion, with the midpoint largely in line with expectations. RIDING ON STRONG PARTNERSHIPS Still, the fourth quarter was the company's most profitable on record, supported by stronger rider engagement and a growing mix of higher-value ride modes. Revenue in the December quarter totaled $1.59 billion, after a $168 million hit from legal, tax and regulatory reserve changes and settlements. Lyft generated $1.12 billion in free cash flow in 2025, above estimates of $993.4 million, and reported adjusted core earnings of $154.1 million for the fourth quarter, topping expectations of $147.1 million, according to LSEG. Growth was driven by expansion into Europe, premium and larger vehicle offerings, as well as partnerships. About 25% of Lyft's rides in the fourth quarter were linked to a partnership, including strong momentum from its tie-up with DoorDash (DASH.O) , opens new tab. https://www.reuters.com/business/lyft-flags-storm-hit-quarter-clouding-1-billion-buyback-program-shares-down-2026-02-10/
