On Friday, grocery retail & distribution company SpartanNash launched discounts for its delivery/pickup customers, as part of its Fast Lane subscription service. “Annual Fast Lane subscriptions are available for $49 per year and include free, unlimited curbside pickup at any SpartanNash store that offers Fast Lane online grocery shopping (a $4.95-per-order savings),” SpartanNash said...
On Thursday, Adobe Inc. reported second quarter earnings that surpassed analysts’ expectations. Revenue also beat estimates, on the back of cloud software business strength. The software company’s adjusted earnings came in at $3.03 a share in the quarter, vs. $2.81 a share expected by analysts polled by FactSet. Revenue rose to $3.84 billion from $3.13 billion in the year-ago quarter...
Fisker shares rose, following news that Magna International would produce its electric vehicles. As part of the agreement, Fisker's electric Ocean SUV is expected to start production at Magna facility in Graz, Austria, starting Nov. 17, 2022. The Graz facility has produced more than 3.7 million vehicles for several global automakers. Fisker is expecting Ocean’s starting list price to be...
Shares of Clearside Biomedical climbed on Thursday, following a price target hike from analysts at Wedbush. Wedbush analyst Liana Moussatos tripled her price target on the biopharmaceutical company’s shares to $18 a share. Moussatos has an outperform rating on the stock. This follows positive data from a early stage eye treatment study at Clearside. "We find these initial results encouraging...
Shares of chipmaker Advanced Micro Devices rose on Thursday, following a report that said the European Commission hasn’t objected to the company’s proposed $35 billion acquisition of Xilinx . Citing knowledgeable source, Dealreporter mentioned that the Commission hasn’t called on a state-of-play meeting in its Phase I investigation of the deal. In April, the two semiconductor companies...
Oracle shares dropped -5% in extended trading on Tuesday, despite earnings beat. It provided a lower-than-expected guidance on quarterly revenue. The computer tech company also expressed plans to boost capital expenditures for cloud computing workloads. Adjusted earnings for the fiscal fourth quarter came in at $1.54 per share, beating the $1.31 per share expected by analysts, according to...
Social media giant Facebook Inc’s smartwatch launch in 2022 could be its foray into the augmented reality space, according to Ark Invest. According to the investment management firm, Facebook seems to believe that a wrist device will be the interface for augmented reality. In March, Facebook revealed that it is working on soft robotics to build all-day writs-based wearable devices that will...
Sage Therapeutics shares fell on Tuesday, following disappointing results of its Phase 3 test results for its depression drug Zuranolone. The biotech company is producing this drug with Biogen. The late-stage study revealed that while Zuranolone did lead to improvement on depression symptoms, there are doubts about the longer-term efficacy of the treatment. According to Sage, the drug’s...
Shares of Ocugen Inc. in premarket trading on Tuesday, after the company said it chose privately held pharmaceutical contract manufacturer Jubilant HollisterStier, to produce its COVID-19 vaccine (which is still in investigational stage) for the U.S. and Canada. The vaccine, called COVAXIN is not authorized in either country at this time. “We are fully committed to bringing COVAXIN to the US...
On Tuesday, Walgreens Boots Alliance Inc. announced that it will offer same-day delivery service through Uber Eats. The delivery service will be available across 7,800 stores in the U.S.. It can soon be accessed in Puerto Rico. Customers will be allowed to place their orders via the Uber Eats app. “Walgreens provides our customers with seamless health and well-being experiences, and offering...
Chewy posted earnings that surpass analysts’ expectations for the fiscal first quarter. For the quarter ended May 2, the online pet retail company’s revenue rose +32% year-over-year to $2.14 billion, compared to the Street consensus forecast of $2.13 billion. Net income came in at 9 cents a share, beating the Street estimate of a loss of -3 cents a share. According to Chewy, it now has 19.8...
Clean Energy Fuels shares fell on Thursday, after the company revealed that its largest shareholder TotalEnergy reduced its stake by about 10.6 million shares. TotalEnergy now holds 53.44 million, or 26.7%, of Clean Energy's outstanding shares, according to a filing with the Securities and Exchange Commission. That's lower than the 64 million shares, or 32%, that a filing Monday said...
Video streaming giant Netflix announced that it launched Netflix.shop, which will sell curated products. Netflix.shop will offer apparel, toys and games etc. featuring to the streaming giant's programs. Items to be sold this month include action figures and apparel inspired by the anime series "Yasuke and Eden," and decorative items based on "Lupin". Netflix.shop will first be launched in the...
Ford unveiled its new Maverick compact pickup truck, priced at around $20,000.
According to the automaker, Maverick, with a standard hybrid engine, has a standard 1,500-pound (6,800-kilo) payload capacity and 2,000 pound base towing capacity.
The starting price of the vehicle is $19,995, or $21,490 including mandatory shipping charges.
Ford is expecting the hybrid version of the 2022 Maverick to contribute about 40% of demand, according to a Reuters report.
"The Maverick gives you the best of both worlds," Ford mentioned on its website."Compact on the outside, but still big enough on the inside to seat five and store all your stuff.
Logistics company ArcBest shares got downgraded by Wolfe Research.
Wolfe Research lowered rating on ArcBest's stock to peer perform from outperform.According to analyst Scott Group, investors should take profits following ArcBest’s six-month rally.
Group wrote that shares of ArcBest do best during periods of tonnage growth, while mentioning that LTL fundamentals are outstanding at present.
The analyst also emphasized on the sector’s wider margins and sustainable pricing power.
Blackstone Group and Carlyle Group along with privately owned company Hellman & Friedman are buying a majority stake in Medline Industries. Medline Industries is privately held, family-led health care firm that generated $17.5 billion in revenue in 2020.
The deal is valued around $34 billion, according to a Wall Street Journal report that cited people familiar with the matter.The transaction is expected to be completed in 2021.
After the deal, while the private equity group will own a majority stake in Medline, the Mills family will continue to be the largest shareholder in the company and will retain their leadership roles.
The Bank of Nova Scotia posted second-quarter fiscal 2021 adjusted net income of C$2.46 billion ($1.95 billion), that was +85.5% higher year over year.
The bank’s total revenues fell -2.8% year-over-year to C$7.74 billion ($6.15 billion).
Net interest income was down -5.5%, while non-interest income rose marginally from the year-ago period.Provision for credit losses fell -73.1%.
Nova Scotia’s total assets were C$1.13 trillion ($0.92 trillion) as of Apr 30, 2021, -3.3% below that of the prior quarter.
DocuSign reported better-than-expected fiscal first quarter results.
The electronic signature solutions company’s first-quarter revenue surged 58% year-over-year to $469.1 million, beating FactSet consensus for $437.6 million.
The company’s adjusted earnings came in at 44 cents a share, compared to FactSet consensus of 28 cents.
Billings rose 54% year-over-year to $527.4 million, surpassing FactSet estimate of $466.7 million.
GAAP gross-profit margin widened 3 percentage points to 78%.
For the fiscal second quarter, DocuSign is expecting revenue in the range of $479 million to $485 million – compared to $474.2 million predicted by analysts polled by FactSet.
For full fiscal year 2022, the company projects revenue in the range of $2.03 billion to $2.04 billion, while FactSet's survey estimates $1.99 billion.
JPMorgan analyst Ryan Brinkman hiked his price target on Ford Motor’s shares by $2, to $18 per share -- a Wall Street-high. Brinkman held his 'overweight' rating on the automaker.
The analyst cited an improving price mix, an easing of the global shortage in semiconductor supplies, and stable labor costs.
"Ford may not see the same degree of improvement in semiconductor availability in 2Q as GM but we believe it may see some, including after it was reported earlier this week that a fire-damaged semiconductor plant in Japan to which it is disproportionately exposed has nearly returned to full capacity," Brinkman noted.
According to Brinkman, Ford may also see tailwinds from the continued strong pricing environment, given the analyst’s estimate that the company’s management may have been more cautious at the time of 1Q earnings than was GM’s in flowing “extremely strong” 1Q pricing trends through the full year.
The company also surpassed revenue estimates.
Express quarterly net loss came in at -55 cents per share, vs. loss of -58 cents expected by analysts.Express is expecting same-store sales to rise sequentially throughout the year.
Gross margin rose to 22.8% of net sales, vs. - 22.0% a year ago.
Express stock has surged 615.4% year to date through Wednesday, amid the frenzy surrounding meme stocks.