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Missing targets: Shell’s adjusted earnings fell more than expected, weighed by lower oil prices and refining margins, but the energy major’s cash-flow generation and $3.5 billion share buyback helped shares edge higher. The oil-and-gas company’s adjusted earnings—a closely watched metric that strips out certain commodity price adjustments and one-time charges—dropped to $3.66 billion compared with $6.03 billion in the previous quarter. Read more from The Wall Street Journal.
On alert: Heightened security restrictions will be in effect for the busiest section of the French Quarter starting next Wednesday through at least the day after Super Bowl LIX is played, Gov. Jeff Landry announced Wednesday. The additional safety measures follow a Jan. 1 terrorist attack that killed 14 people and injured 57 others. Read more from Louisiana Illuminator.
Going public: Sports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker “TWNP,” making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public. The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest rates, cautious consumers and the risk of lower valuations scared many companies away from going public. The chain has a Baton Rouge location on Siegen Lane. Read more from CNBC.
