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: Vaccine makers lower after U.S. says it supports IP waivers #FinanceUSA #StockMarketNEWS Vaccine makers Pfizer , BioNTech and Moderna each traded lower by 3% to 5% in premarket trade on Thursday,
@stockMarketNEWS 2 Days ago
Vaccine makers lower after U.S. says it supports IP waivers #FinanceUSA #StockMarketNEWS
Vaccine makers Pfizer , BioNTech and Moderna each traded lower by 3% to 5% in premarket trade on Thursday, following the announcement from U.S. Trade Representative Katherine Tai that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines. Another maker of COVID-19 vaccines, AstraZeneca , was flat in London trade. Moderna also is scheduled to report earnings on Thursday.
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: Nikola stock bounces after LOI for an order of 100 electric vehicles for port trucking company #FinanceUSA #StockMarketNEWS Shares of Nikola Corp. bounced 5.4% in premarket trading Thursday, putting
@stockMarketNEWS 2 Days ago
Nikola stock bounces after LOI for an order of 100 electric vehicles for port trucking company #FinanceUSA #StockMarketNEWS
Shares of Nikola Corp. bounced 5.4% in premarket trading Thursday, putting them on track to snap a seven-day losing streak, after the electric vehicle maker announced a letter of intent (LOI) for the order of 100 semi-trucks. The LOI is part of a collaboration with California-based port trucking company Total Transportation Services Inc. to expedite zero-emission transportation at the port of Los Angeles/Long Beach. The semi-truck order includes battery-electric vehicles (BEV) and fuel-cell electric vehicles (FCEV). The order will start with a four-truck pilot in the first half of 2022. If vehicle trials are satisfactory, and Total Transportation obtains certain government funding, 30 BEVs are projected to be delivered later in 2022 and 70 FCEVs are expected to start in 2023. Nikola's stock, which tumbled 15.6% over the past seven sessions, has plunged 55.9% over the past three months, while the S&P 500 has gained 7.2%.
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: Norwegian Cruise stock drops after wider-than-expected loss, revenue miss #FinanceUSA #StockMarketNEWS Shares of Norwegian Cruise Line Holdings Ltd. fell 2.0% in premarket trading Thursday, after
@stockMarketNEWS 2 Days ago
Norwegian Cruise stock drops after wider-than-expected loss, revenue miss #FinanceUSA #StockMarketNEWS
Shares of Norwegian Cruise Line Holdings Ltd. fell 2.0% in premarket trading Thursday, after the cruise operator reported a wider-than-expected first-quarter loss and revenue that fell more than forecast, while cash burn was in line with forecasts and said it was preparing to return to service this summer. The net loss narrowed to .37 billion, or .16 a share, from .88 billion, or .80 a share, in the year-ago period. Excluding nonrecurring items, per-share losses widened to .03 from 99 cents, compared with the FactSet loss consensus of .02. Revenue plunged 99.8% to .1 million, below the FactSet consensus of .2 million. Monthly average cash burn was in line with the company's guidance of 0 million, and Norwegian expects second-quarter cash burn to average 0 million a month. The company said 2022 booking trends "are very positive driven by strong pent up demand," with the booked position for the first half of 2022 "meaningfully ahead" of the pre-pandemic 2019's record levels. "As for the resumption of cruises from the U.S., we continue to engage in dialogue with the U.S. Centers for Disease Control and Prevention," said Chief Executive Frank Del Rio. "Our team is working through the recently issued and modified technical guidance for which additional clarification is needed on how the incorporation of vaccine requirements impacts the Conditional Sail Order and our path forward." The stock has rallied 20.8% over the past three months through Wednesday while the S&P 500 has gained 7.2%.
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: Tapestry swings to profit that beats expectations, as Coach and Kate Spade sales top forecasts #FinanceUSA #StockMarketNEWS Coach parent Tapestry Inc. reported Thursday that it swung to a fiscal third-quarter
@stockMarketNEWS 2 Days ago
Tapestry swings to profit that beats expectations, as Coach and Kate Spade sales top forecasts #FinanceUSA #StockMarketNEWS
Coach parent Tapestry Inc. reported Thursday that it swung to a fiscal third-quarter profit that beat expectations, as Coach and Kate Spade sales rose above forecasts. The luxury lifestyle brands company's stock was little changed in premarket trading. Net income for the quarter to March 27 was .7 million, or 32 cents a share, after a loss of 7.1 million, or .45 a share, in the year-ago period. Excluding nonrecurring items, adjusted per-share results swung to earnings of 51 cents from a loss of 27 cents, beating the FactSet consensus of 31 cents. Net sales increased 18.7% to .27 billion, above the FactSet consensus of .22 billion. Coach sales grew 25% to 4 million to beat expectations of 3.2 million and Kate Spade sales increased 1% to 2 million to top expectations of 1.5 million. The company expects fiscal 2021 revenue to grow at a mid-teens percentage rate, while the current FactSet sales consensus of .47 billion implies 10.2% growth. The stock has soared 55.8% year to date, while the S&P 500 has gained 11.0%.
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: SeaWorld posts narrower-than-expected Q1 loss as revenue tops estimates #FinanceUSA #StockMarketNEWS SeaWorld Entertainment Inc. said Thursday it had net loss of .9 million, or 57 cents a share,
@stockMarketNEWS 2 Days ago
SeaWorld posts narrower-than-expected Q1 loss as revenue tops estimates #FinanceUSA #StockMarketNEWS
SeaWorld Entertainment Inc. said Thursday it had net loss of .9 million, or 57 cents a share, in the first quarter, narrower than the loss of .5 million, or 72 cents a share, posted in the year-earlier quarter. Revenue rose to 1.9 million from 3.6 million. The FactSet consensus was for a loss of 78 cents and revenue of 1.0 million. The theme park operator said the revenue number was down 21.2% from the first quarter of 2019, before the coronavirus pandemic shuttered parks. Total revenue per capital rose 17.2% to .63 from the first quarter of 2020. As of March 31, SeaWorld had about 1 million of cash and about 2 million available on a revolving credit facility. Ten of its 12 parks were open with capacity limitations. "Attendance trends have improved relative to 2019 during the first quarter of 2021, which included a slight benefit from an earlier Easter/Spring Break period when compared to the first quarter of 2019," Chief Executive Marc Swanson said in a statement. "We are encouraged by our guests desire to visit and spend at our parks and believe this is a good indicator for expected demand during our peak summer season." Shares were not active premarket but have gained 68% in the year to date, while the S&P 500 has gained 11%.
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: Pfizer and BioNTech to supply IOC with COVID-19 vaccines for Olympic and Paralympic Games athletes #FinanceUSA #StockMarketNEWS Pfizer Inc. and German partner BioNTech SE said Thursday they have
@stockMarketNEWS 2 Days ago
Pfizer and BioNTech to supply IOC with COVID-19 vaccines for Olympic and Paralympic Games athletes #FinanceUSA #StockMarketNEWS
Pfizer Inc. and German partner BioNTech SE said Thursday they have signed a memorandum of understanding with the International Olympic Committee to donate their COVID-19 vaccine to help vaccinate athletes participating in this year's Olympic and Paralympic Games Tokyo 2020, which are scheduled to begin on July 23, 2021. Under the terms of the MOU, the companies will coordinate with the IOC to understand the need for vaccine doses for national delegations. "Delivery of initial doses to participating delegations is expected to begin at the end of May where possible with the aim to ensure participating delegations receive second doses ahead of arrivals in Tokyo," the companies said in a joint statement.
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: Regeneron stock rises, as profit, revenue and sales of SARS-CoV-2 antibody cocktail beat expectations #FinanceUSA #StockMarketNEWS Shares of Regeneron Pharmaceuticals Inc. rose 0.8% in premarket trading
@stockMarketNEWS 2 Days ago
Regeneron stock rises, as profit, revenue and sales of SARS-CoV-2 antibody cocktail beat expectations #FinanceUSA #StockMarketNEWS
Shares of Regeneron Pharmaceuticals Inc. rose 0.8% in premarket trading Thursday, after the biotechnology company beat first-quarter profit and revenue expectations, with sales of its REGEN-COV antibody cocktail to the SARS-CoV-2 virus also topping forecasts. Net income rose to .12 billion, or .09 a share, from 5 million, or .43 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share grew to .89 from .60, beating the FactSet consensus of .68. Revenue increased 38% to .53 billion, topping the FactSet consensus of .50 billion, as REGEN-COV sales of 2 million beat expectations of 4.6 million. For 2021, the company cut its capital expenditures guidance range to 5 million to 0 million from 0 million to 0 million. The stock has lost 3.3% over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF has dropped 11.9% and the S&P 500 has gained 7.2%.
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: Coronavirus tally: Global cases of COVID-19 top 155 million and India's case tally above 21 million #FinanceUSA #StockMarketNEWS The global tally for the coronavirus-borne illness rose above 155 million
@stockMarketNEWS 2 Days ago
Coronavirus tally: Global cases of COVID-19 top 155 million and India's case tally above 21 million #FinanceUSA #StockMarketNEWS
The global tally for the coronavirus-borne illness rose above 155 million on Thursday, according to data aggregated by Johns Hopkins University, while the death toll rose above 3.24 million. The U.S. continues to lead the world in cases and deaths by wide margins, with 32.6 million cases and 579,2800 deaths, or about a fifth of the worldwide tallies. There was positive news on the vaccine front, in comments from U.S. Trade Representative Katherine Tai said that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines. Separately, Moderna Inc. said a single-dose booster COVID-19 vaccine worked against the novel coronavirus' variants first identified in South Africa and Brazil, according to initial data from a Phase 2 study.
India is second to the U.S. by cases at 21.1 million and third by fatalities, at 230,168. Brazil is third with 14.9 million cases and second by fatalities at 414,399. Mexico has the fourth-highest death toll at 218,007 and 2.4 million cases, or 15th highest tally. The U.K. has 4.4 million cases and 127,830 deaths, the fifth-highest in the world and highest in Europe.
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: ViacomCBS stock rallies after earnings beats expectations, as streaming revenue jumps 65% #FinanceUSA #StockMarketNEWS Shares of ViacomCBS Inc. surged 2.9% in premarket trading Thursday, after the
@stockMarketNEWS 2 Days ago
ViacomCBS stock rallies after earnings beats expectations, as streaming revenue jumps 65% #FinanceUSA #StockMarketNEWS
Shares of ViacomCBS Inc. surged 2.9% in premarket trading Thursday, after the media and entertainment company reported first-quarter profit and revenue that rose above expectations, boosted by a 65% jump in streaming revenue. Net income rose to 1 million, or .44 a share, from 6 million, or 84 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to .52 from .12, to beat the FactSet consensus of .23. Revenue grew 14% to .41 billion, above the FactSet consensus of .32 billion. Streaming revenue rose 65% to 6 million, with global streaming subscribers increasing 20% to 36 million. On the company's Paramount+ streaming platform, the biggest drivers of subscription sign ups were live sports and specials, as well as kids content. TV Entertainment revenue rose 19% to .51 billion, cable network revenue grew 14% to .26 billion and filmed entertainment revenue rose 23% to 7 million. ViacomCBS's stock has tumbled 27.7% over the past three months but has gained 4.9% year to date, while the S&P 500 has tacked on 11.0% this year.
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: Becton Dickinson beats profit expectations, plans to spin off Diabetes Care business #FinanceUSA #StockMarketNEWS Becton Dickinson & Co. reported Thursday fiscal second-quarter profit and sales that
@stockMarketNEWS 2 Days ago
Becton Dickinson beats profit expectations, plans to spin off Diabetes Care business #FinanceUSA #StockMarketNEWS
Becton Dickinson & Co. reported Thursday fiscal second-quarter profit and sales that rose above expectations, boosted by 0 million in COVID-19 testing sales, and announced plans to separate its Diabetes Care business into an independent publicly traded company. The medical technology company's stock was still inactive in premarket trading. Net income for the quarter to March 31 rose to 7 million, or 95 cents a share, from 5 million, or 53 cents a share, in the year-ago period. Excluding nonrecurring items, such as purchase accounting adjustments and European regulatory initiative related costs, adjusted earnings per share came to .19, above the FactSet consensus of .04. Revenue grew 15.4% to .91 billion, topping the FactSet consensus of .89 billion, as medical revenue rose 1.7% and life sciences revenue increased 10.4% while interventional revenue fell 3.9%. For 2021, the company expects adjusted EPS growth of 24% to 25%, while the FactSet consensus of .86 implies 26.1% growth. Separately, the company said it expects the spinoff to occur through a distribution of stock in the new company to its shareholders, with the deal expected to be completed in the first half of 2022. The stock has lost 1.9% over the past three months, while the S&P 500 has gained 7.2%.
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: Arlo Technologies stock rallies after narrower Q1 loss #FinanceUSA #StockMarketNEWS Shares of Arlo Technologies Inc. jumped 10% in the extended session Wednesday after the maker of home security cameras
@stockMarketNEWS 2 Days ago
Arlo Technologies stock rallies after narrower Q1 loss #FinanceUSA #StockMarketNEWS
Shares of Arlo Technologies Inc. jumped 10% in the extended session Wednesday after the maker of home security cameras and other equipment reported a narrower-than-expected first-quarter loss and sales topped forecasts. Arlo said it lost .7 million, or 13 cents a share, in the quarter, compared with a loss of .2 million, or 19 cents a share, in the year-ago quarter. Adjusted for one-time items, Arlo lost 3 cents a share, compared with 8 cents a share a year ago. Sales rose 26% to .6 million, Arlo said. Analysts polled by FactSet expected Arlo to report an adjusted loss of 21 cents a share on sales of .9 million. "In 2020 we successfully pivoted to become services-focused to create a more predictable, more profitable business and our strong Q1 results are further proof of our progress," Chief Executive Matthew McRae said in a statement. Arlo guided for second-quarter revenue between million and million, and an adjusted per-share loss between 20 cents and 13 cents. Shares of Arlo ended the regular trading day down 0.2%.
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: Moderna says trial booster vaccine effective against COVID-19 variants #FinanceUSA #StockMarketNEWS Moderna Inc. stock rose more than 1% in the extended session Wednesday after the biotechnology company
@stockMarketNEWS 2 Days ago
Moderna says trial booster vaccine effective against COVID-19 variants #FinanceUSA #StockMarketNEWS
Moderna Inc. stock rose more than 1% in the extended session Wednesday after the biotechnology company said that a single-dose booster COVID-19 vaccine worked against the novel coronavirus' variants, according to initial data from a Phase 2 study. The booster was effective against the variant first identified in South Africa and the variant first identified in Brazil, Moderna said. The company is submitting the preliminary results to peer-reviewed publication. "As we seek to defeat the ongoing pandemic, we remain committed to being proactive as the virus evolves. We are encouraged by these new data, which reinforce our confidence that our booster strategy should be protective against these newly detected variants," Chief Executive Stéphane Bancel said in a statement. Moderna stock ended the regular trading day down 6%.
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: Fed Vice Chairman Clarida says it is not time yet to talk about tapering #FinanceUSA #StockMarketNEWS Federal Reserve Vice Chairman Richard Clarida on Wednesday said it was not time yet to begin conversations
@stockMarketNEWS 2 Days ago
Fed Vice Chairman Clarida says it is not time yet to talk about tapering #FinanceUSA #StockMarketNEWS
Federal Reserve Vice Chairman Richard Clarida on Wednesday said it was not time yet to begin conversations about possibly scaling back the central bank's asset purchases. The Fed is buying 0 billion per month of Treasurys and mortgage-related securities as well as keeping interest rates close to zero in order to stimulate the economy. The Fed has said it wants to see "substantial further progress" on its goals of full employment and stable inflation before tapering. Asked when the Fed should start "talking about talking about" tapering, Clarida replied: "We don't think so right now." Dallas Fed President Robert Kaplan said earlier this week it was time to start the discussion about tapering. Several Fed officials speaking on Wednesday have all disagreed with Kaplan. "We'll get more data -and as we move through the year- we will be able to make a judgement on 'substantial further progress,' but we're not there yet," Clarida said.
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: Cardinal Health shares slide 8.8% premarket after earnings fall short of esimates #FinanceUSA #StockMarketNEWS Cardinal Health Inc. shares slid 8.8% in premarket trade Thursday, after the drug distributor
@stockMarketNEWS 2 Days ago
Cardinal Health shares slide 8.8% premarket after earnings fall short of esimates #FinanceUSA #StockMarketNEWS
Cardinal Health Inc. shares slid 8.8% in premarket trade Thursday, after the drug distributor posted weaker-than-expected earnings for its fiscal third quarter and lowered the top end of its guidance. The company said net income fell to 9 million, or 40 cents a share, in the quarter to March 31, down from 0 million, or .19 a share, in the year-earlier period. Excluding special items, adjusted EPS came to .53, just below the .55 FactSet consensus. Revenue rose to .3 billion from .2 billion, also below the FactSet consensus of .1 billion. The company narrowed its fiscal 2021 adj. EPS guidance range to .90 to .05 from previous guidance of .85 to .10. Shares have gained 13.6% in the year to date, while the S&P 500 has gained 11%.
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: Moderna reports .7 billion in COVID-19 vaccine sales, posts first profit ever #FinanceUSA #StockMarketNEWS Moderna Inc. brought in .7 billion in sales of its COVID-19 vaccine in the first quarter
@stockMarketNEWS 2 Days ago
Moderna reports .7 billion in COVID-19 vaccine sales, posts first profit ever #FinanceUSA #StockMarketNEWS
Moderna Inc. brought in .7 billion in sales of its COVID-19 vaccine in the first quarter of 2021, marking the company's first significant billion-dollar revenue haul this year and also the first time it's ever reported a GAAP profit. Moderna had earnings of .2 billion, or .84 per share, in the first quarter of 2021. This is compared to a loss of 4 million, or 35 cents per share, in the first quarter a year ago. The FactSet consensus was .39. Moderna had revenue of .9 billion for the quarter, up from million in the same quarter a year ago. The FactSet consensus for revenue was .0 billion. This quarter marked the first time that the company has generated product revenue during the first three months of the year. About .7 billion of that came from sales of its COVID-19 vaccine. (Before receiving authorization from the Food and Drug Administration, it generated grant and collaboration revenue.) Moderna's stock is up 55.8% for the year, while the S&P 500 has gained 10.9%.
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: Dow notches record but 4-day skid in tech stocks help Nasdaq Composite to book longest losing streak since October #FinanceUSA #StockMarketNEWS The Dow Jones Industrial Average on Wednesday ended at
@stockMarketNEWS 2 Days ago
Dow notches record but 4-day skid in tech stocks help Nasdaq Composite to book longest losing streak since October #FinanceUSA #StockMarketNEWS
The Dow Jones Industrial Average on Wednesday ended at an all-time high and the Nasdaq Composite posted its longest losing streak since mid October, amid concerns about rising inflation and the eventual pull back of flush monetary policy as the economy reopens in the wake of the pandemic. The Dow [: DJIA] closed up nearly 100 points, or 0.3%, to 34,230, about 30 points above its most recent record on April 16, FactSet data show. The S&P 500 index finished up 0.1% at 4,168, while the Nasdaq Composite Index closed down 0.4% to mark a fourth straight decline, representing the longest skid for the benchmark since a five-session period ended Oct. 19. Healthcare stocks finished slightly higher, represented by a 0.2% gain in the SPDR S&P Pharmaceuticals ETF , after the U.S. Trade Representative Katherine Tai said in a tweet that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines to "help end the pandemic," adding that American officials will "actively participate" in World Trade Organization negotiations to achieve that. In corporate news, Peloton Interactive shares finished down more than 14% after the company said it was recalling 125,000 of its Tread+ treadmills, citing "risk of injury or death."
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: Biden administration backs waiving IP protections for COVID vaccines #FinanceUSA #StockMarketNEWS U.S. Trade Representative Katherine Tai said in a tweet on Wednesday that the U.S. supports the waiver
@stockMarketNEWS 2 Days ago
Biden administration backs waiving IP protections for COVID vaccines #FinanceUSA #StockMarketNEWS
U.S. Trade Representative Katherine Tai said in a tweet on Wednesday that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines to "help end the pandemic," adding that American officials will "actively participate" in World Trade Organization negotiations to achieve that. The White House has been under pressure from lawmakers at home and governments abroad to join an effort to waive patent rules for the vaccines so that poorer countries can begin to produce their own generic versions of the shots to vaccinate their populations. Data: How vaccine makers' stocks are reacting.
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: Dow notches record but 4-day skid in tech stocks help Nasdaq Composite to notch longest losing streak since October #FinanceUSA #StockMarketNEWS The Dow Jones Industrial Average on Wednesday ended
@stockMarketNEWS 2 Days ago
Dow notches record but 4-day skid in tech stocks help Nasdaq Composite to notch longest losing streak since October #FinanceUSA #StockMarketNEWS
The Dow Jones Industrial Average on Wednesday ended at an all-time high and the Nasdaq Composite posted its longest losing streak since mid October, amid concerns about rising inflation and the eventual pull back of flush monetary policy as the economy reopens in the wake of the pandemic. The Dow [: DJIA] closed up nearly 100 points, or 0.3%, to 34,230, about 30 points above its most recent record on April 16, FactSet data show. The S&P 500 index finished up 0.1% at 4,168, while the Nasdaq Composite Index closed down 0.4% to mark a fourth straight decline, representing the longest skid for the benchmark since a five-session period ended Oct. 19. Healthcare stocks finished slightly higher, represented by a 0.2% gain in the SPDR S&P Pharmaceuticals ETF , after the U.S. Trade Representative Katherine Tai said in a tweet that the U.S. supports the waiver of intellectual-property protections on COVID-19 vaccines to "help end the pandemic," adding that American officials will "actively participate" in World Trade Organization negotiations to achieve that. In corporate news, Peloton Interactive shares finished down more than 14% after the company said it was recalling 125,000 of its Tread+ treadmills, citing "risk of injury or death."
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: Gold prices end higher as Yellen clarifies recent comments on interest rates #FinanceUSA #StockMarketNEWS Gold futures ended higher on Wednesday to recoup only part of what they lost a day earlier
@stockMarketNEWS 2 Days ago
Gold prices end higher as Yellen clarifies recent comments on interest rates #FinanceUSA #StockMarketNEWS
Gold futures ended higher on Wednesday to recoup only part of what they lost a day earlier as U.S. Treasury Secretary Janet Yellen clarified recent remarks and said she was neither predicting nor recommending that the Federal Reserve raise interest rates to keep the economy from overheating. The ,800 mark for gold is a "very strong resistance level" and further comments from Yellen "clarifying that she was not predicting anything in particular did nothing to help gold break through," said David Russell, director of marketing at GoldCore. June gold rose .30, or 0.5%, to settle at ,784.30 an ounce.
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: New York Gov. Cuomo says Broadway can reopen at full capacity on Sept. 14 #FinanceUSA #StockMarketNEWS New York Gov. Andrew Cuomo said Wednesday that tickets for Broadway shows can go on sale tomorrow
@stockMarketNEWS 2 Days ago
New York Gov. Cuomo says Broadway can reopen at full capacity on Sept. 14 #FinanceUSA #StockMarketNEWS
New York Gov. Andrew Cuomo said Wednesday that tickets for Broadway shows can go on sale tomorrow and that New York's storied theater district can reopen at 100% capacity Sept. 14. The news comes more than a year after Broadway was forced to fully shut down as the coronavirus-borne illness COVID-19 was sweeping across the state and making it the epicenter of the U.S. pandemic. Cuomo also said that the Mets, Yankees and New York Health Department are teaming up so that fans attending a baseball game can get a vaccine right at the stadium in return for a free ticket. "So if you love baseball (& protecting your community) - go to a game, get vaccinated & get a free ticket!," Cuomo said in a tweet. New York state has fully vaccinated 36% of its population, according to The New York Times, and 49% have received at least one dose of a two-jab regimen.
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: U.S. oil futures shift lower to post a loss for the session #FinanceUSA #StockMarketNEWS U.S. oil futures gave up earlier gains Wednesday to post a small loss for the session. Prices had been trading
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U.S. oil futures shift lower to post a loss for the session #FinanceUSA #StockMarketNEWS
U.S. oil futures gave up earlier gains Wednesday to post a small loss for the session. Prices had been trading higher on expectations that an economic recovery in the U.S. and Europe would lead to higher demand for oil. A report from the Energy Information Administration also revealed a hefty weekly decline in U.S. crude inventories. However, prices eased back just ahead of the day's settlement. The "virus is a big wildcard" as India is going to take some time to recover, said Tariq Zahir, managing member at Tyche Capital Advisors. Also, the members of Organization of the Petroleum Exporting Countries are starting to add oil to the market, which could "take some steam out of the energy markets in the months ahead." June West Texas Intermediate crude edged down by 6 cents, or nearly 0.1%, to settle at .63 a barrel on the New York Mercantile Exchange after trading as high as .76.
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: Honest Co. shares soar more than 35% as trading begins #FinanceUSA #StockMarketNEWS Shares of Honest Co. Inc. soared 35% out of the gate, after indicating a Nasdaq debut well ahead of the pricing.
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Honest Co. shares soar more than 35% as trading begins #FinanceUSA #StockMarketNEWS
Shares of Honest Co. Inc. soared 35% out of the gate, after indicating a Nasdaq debut well ahead of the pricing. The Los Angeles-based "clean" baby, beauty and household goods company opened at .22 at 11:41 a.m. ET, or 32.6% above the IPO price, then extended gains. At the opening price, the company was valued at .92 billion. The Renaissance IPO ETF has fallen 7.8% for the year to date, while the benchmark S&P 500 index is up 11.4% for the period.
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: Boeing's 737 Max electrical problem faces further scrutiny: report #FinanceUSA #StockMarketNEWS U.S. officials have asked Boeing Co. to supply additional information showing that several 737 Max
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Boeing's 737 Max electrical problem faces further scrutiny: report #FinanceUSA #StockMarketNEWS
U.S. officials have asked Boeing Co. to supply additional information showing that several 737 Max subsystems would not be affected by electrical-grounding problems revealed in April,Reuters reported Wednesday, citing two people familiar with the matter. Boeing flagged a new problem with 737 Max jets in early April, with Wall Street believing that a fix would be easy and cause only "minimal disruption" for Boeing customers. The electrical problems have grounded about a quarter of the 737 Max fleet, while U.S. airlines are standing by for guidance on how to fix it. Through a spokesperson, Boeing told Reuters it continues "to work closely with the FAA and our customers to address the ground path issue in affected 737s." Shares of Boeing fell 1.5% in midday trading Wednesday, and have gained around 7% this year, compared with an advance of about 11% for the S&P 500 index.
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: Papa John's Epic Stuffed Crust pizza drives sales growth #FinanceUSA #StockMarketNEWS Papa John's International Inc. shares rose 4.2% in Thursday premarket trading after the pizza delivery company
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Papa John's Epic Stuffed Crust pizza drives sales growth #FinanceUSA #StockMarketNEWS
Papa John's International Inc. shares rose 4.2% in Thursday premarket trading after the pizza delivery company reported first-quarter earnings and revenue that beat expectations. Net income totaled .1 million, or 82 cents per share, up from .4 million, or 15 cents per share, last year. Adjusted EPS of 90 cents beat the FactSet consensus for 56 cents. Revenue of 1.7 million was up from 9.9 million last year and ahead of the FactSet consensus for 0.0 million. Comparable sales in North America grew 26.2% and were up 23.2% on an international basis. Papa John's attributed the growth to the new Epic Stuffed Crust pizza in North America and the company's expanding customer base. The FactSet consensus was for domestic comparable sales growth of 14.9% and international growth of 17.4%. Papa John's stock has gained 10.8% for the year to date while the S&P 500 index is up 11% for the period.
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: II-VI stock sinks toward 6-month low after earnings beat expectations, but profit outlook comes up shy #FinanceUSA #StockMarketNEWS Shares of II-VI Inc. sank 6.1% toward a six-month low in premarket
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II-VI stock sinks toward 6-month low after earnings beat expectations, but profit outlook comes up shy #FinanceUSA #StockMarketNEWS
Shares of II-VI Inc. sank 6.1% toward a six-month low in premarket trading Thursday, after the optical technology company beat fiscal third-quarter earnings expectations, but provided a downbeat profit outlook for the current quarter. Net income for the quarter to March 31 rose to .1 million, or 66 cents a share, from .9 mullion, or 6 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share nearly doubled, to 91 cents from 47 cents, and beat the FactSet consensus of 88 cents. Revenue grew 24.9% to 3.2 million, above the FactSet consensus of 2.3 million, with photonic solutions revenue rising 21.6% to 8.0 million and compound semiconductor revenue growing 31.5% to 5.3 million. For the fiscal fourth quarter ending June 30, the company expects adjusted EPS of 63 cents to 83 cents, below the current FactSet consensus of 92 cents, while the revenue guidance of 2 million to 2 million surrounds expectations of 6 million. The stock, which is on track to open at the lowest price seen during regular-session hours since November 2020, has shed 15.0% year to date through Wednesday, while the S&P 500 has advanced 11.0%.
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: Wayfair revenue rises year-over-year but slips from Q4 #FinanceUSA #StockMarketNEWS Wayfair Inc. reported first-quarter net income totaling .2 million, or 16 cents per share, after a loss of 5.9
@stockMarketNEWS 2 Days ago
Wayfair revenue rises year-over-year but slips from Q4 #FinanceUSA #StockMarketNEWS
Wayfair Inc. reported first-quarter net income totaling .2 million, or 16 cents per share, after a loss of 5.9 million, or .04 per share, last year. Wayfair has adopted a new accounting standard, effective Jan. 1, 2021. Under the old system, the company says it would have reported a loss of 31 cents per share. Adjusted EPS was .00, ahead of the FactSet consensus for 26 cents. Revenue of .478 billion was up from .330 billion last year and ahead of the FactSet consensus for .394 billion. In the fourth quarter, Wayfair reported revenue of .67 billion. Revenue was up 49% year-over-year compared with 45% in the fourth quarter. Active customers reached 33.2 million as of March 31, up 57.3% year-over-year. Average order value was 7, up from 5 last year. And repeat customers placed 74.5% of total orders in the first quarter, compared with 69.8% last year. Wayfair stock was up 4.5% in Thursday premarket trading, and has gained 20% for the year to date. The S&P 500 index is up 11% for 2021 so far.
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: Kellogg shares rise after guidance raised #FinanceUSA #StockMarketNEWS Kellogg Co. shares rose 3.8% in Thursday premarket trading after the food company reported earnings on Thursday that beat expectations
@stockMarketNEWS 2 Days ago
Kellogg shares rise after guidance raised #FinanceUSA #StockMarketNEWS
Kellogg Co. shares rose 3.8% in Thursday premarket trading after the food company reported earnings on Thursday that beat expectations and raised its full-year guidance. Net income totaled 8 million, or .07 per share, up from 7 million, or .01 per share. Adjusted EPS of .11 beat the FactSet consensus for 96 cents. Sales of .584 billion was up from .412 billion and and also beat the FactSet consensus for .377 billion. Kellogg now expects 2021 organic net sales to be flat year-over-year versus previous guidance for a 1% decline. Kellogg stock has gained 1.4% for the year to date while the S&P 500 index is up 11% for the period.
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: Moderna says its COVID-19 vaccine has a 96% efficacy rate in teens who have received one shot #FinanceUSA #StockMarketNEWS Moderna Inc. said Thursday that initial data from the study evaluating its
@stockMarketNEWS 2 Days ago
Moderna says its COVID-19 vaccine has a 96% efficacy rate in teens who have received one shot #FinanceUSA #StockMarketNEWS
Moderna Inc. said Thursday that initial data from the study evaluating its COVID-19 vaccine in teens between the ages of 12 and 17 years old showed an efficacy rate of 96%, with no serious safety concerns. The Phase 2/3 clinical trial is testing the vaccine in 3,235 teens who have received at least one shot in the two-dose regimen and have not previously been infected with SARS-CoV-2. "Because the incidence rate of COVID-19 is lower in adolescents, the case definition is less stringent ... resulting in vaccine efficacy against milder disease," Moderna said in its earnings release. Pfizer Inc. is expected to have its emergency authorization for its COVID-19 vaccine expanded sometime in the next week to include 12 to 15 year olds. Data from Pfizer's study showed an efficacy rate of 100% in 2,260 teens who have had or not had COVID-19. Moderna's stock is up 55.8% for the year, while the S&P 500 has gained 10.9%.
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: Vista Outdoor stock jumps after bit profit and sales beats, upbeat outlook #FinanceUSA #StockMarketNEWS Shares of Vista Outdoor Inc. climbed 2.6% in premarket trading Thursday, after the shooting
@stockMarketNEWS 2 Days ago
Vista Outdoor stock jumps after bit profit and sales beats, upbeat outlook #FinanceUSA #StockMarketNEWS
Shares of Vista Outdoor Inc. climbed 2.6% in premarket trading Thursday, after the shooting accessories and outdoor products company reported a fiscal fourth-quarter profit that beat expectations, as sales rose to the highest level in more than four years, with demand and order rates continued to increase across all of the company's businesses. For the quarter to March 31, the company swung to net income of .0 million, or .11 a share, from a loss of 1.2 million, or .44 a share, in the year-ago quarter. Excluding nonrecurring items, adjusted earnings per share rose to .02 from 11 cents, beating the FactSet consensus of 67 cents. Sales grew 40% to 6.5 million, above the FactSet consensus of 2.7 million, the most quarterly revenue since the fourth quarter of 2016. Shooting sports sales increased 37% to 3 million, amid strong demand for commercial ammunition and hunting and shooting accessories, while outdoor products sales rose rose 47% to 3 million with strength across all brands. The company expects fiscal first-quarter EPS of 80 cents to 90 cents and sales of 0 million to 0 million, compared with EPS expectations of 69 cents and a sales forecast of 4 million. The stock has rocketed 265.8% over the past 12 months through Wednesday, while the S&P 500 has advanced 46.3%.
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: Labour Ministry notifies Section 142 of the Code on Social Security #FinanceIndia #StockMarketNEWS Labour Ministry notifies Section 142 of the Code on Social Security New Delhi, May 6 (KNN) The Ministry
@stockMarketNEWS 2 Days ago
Labour Ministry notifies Section 142 of the Code on Social Security #FinanceIndia #StockMarketNEWS
Labour Ministry notifies Section 142 of the Code on Social Security New Delhi, May 6 (KNN) The Ministry of Labour & Employment has notified Section 142 of the Social Security Code, 2020 covering applicability of Aadhaar.
The notification of section will enable the Ministry of Labour and Employment to collect Aadhaar details for the database of beneficiaries under various social security schemes, said an official statement from the Ministry on Wednesday.
National Database for unorganised workers (NDUW) is at an advanced stage of development by the National Informatics Centre. The portal is aimed at collection of data for unorganised workers including migrant workers for the purpose of giving benefits of the various schemes of the Government.
An inter-state migrant worker can register himself on the portal on the basis of submission of Aadhaar alone, it added.
Union Minister of State (I/c) for Labour and Employment Santosh Gangwar has clarified that the section under the Social Security Code has been notified only for collection of data of workers including migrant workers.
No benefit will be denied to workers for want of Aadhaar, he said.
The Social Security Code 2020 will subsume nine labour laws such as the Employees Compensation Act, 1923; The Employees State Insurance Act, 1948; The Employees Provident Funds and Miscellaneous Provisions Act, 1952; The Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959 and The Maternity Benefit Act, 1961.
The Payment of Gratuity Act, 1972; The Cine-Workers Welfare Fund Act, 1981; The Building and Other Construction Workers Welfare Cess Act, 1996 and The Unorganised Workers Social Security Act, 2008 are the other laws that will be subsumed
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