Amazon said it would hire another 125,000 employees in its logistics facilities, in some states in the U.S. The roles offered at warehouses and package sorting centers will have an average pay of $18 an hour and up to $22.50 an hour in some locations. Dave Clark, Amazon's chief executive for the e-commerce company’s worldwide consumer division, said in a statement that the company is offering...
Disney said that it will release its remaining films for 2021 exclusively in theaters for a minimum of 45 days, except for "Encanto" ( Encanto will stream on Disney+ after 30 days). The media/entertainment behemoth said that it would release five films for minimum 45-day exclusive theatrical runs, including filmmaker Ridley Scott's "The Last Duel" to be released on Oct. 15, animated film...
Virgin Galactic has postponed its first commercial research mission in collaboration with the Italian Air Force until at least mid-October, owing to a potential issue. The space travel company is examining a component provided by a third-party vendor for the flight control actuation system in its SpaceShipTwo vehicles. However, it does not know yet if there is a defect or if repairs are...
On Friday, Sunrun shares rose, after analysts at Needham initiated coverage of the solar energy company with a buy rating and a $75 price target. Needham analyst Vikram Bagri cited Sunrun’s position as "the leader in the crowded US residential solar industry with about 15% share, almost 2x that of its closest competitor." "We think the industry, which has expanded rapidly since 2016, can keep...
Shares of Greenlane Holdings was reinstated outperform rating by analysts at Cowen. Cowen analysts now have a price target of $5 a share. The analysts are bullish after Greenlane closed its merger with KushCo. on Sept. 1. "Combined, the company will be a clear leader in the ancillary cannabis space where distinct customer bases should provide a platform for cross-selling opportunities and...
Investment management company Blackstone has agreed to purchase smart access products company Chamberlain Group, for about $5 billion. Blackstone bought the company from private equity firm The Duchossois Group. Under the terms of the deal, The Duchossois Group will continue to have “meaningful” ownership in the company and two seats on its Board of Directors. “Blackstone is expected to...
Disney owned- Marvel's "Shang-Chi and the Legend of the Ten Rings" generated $90 million at the box office to close the Labor Day weekend. The result exceeded an initial forecast of about $63 million by researcher Boxoffice Pro. “Shang-Chi" had the second-biggest opening weekend of the pandemic, behind only "Black Widow" with $80 million. "Shang Chi's" had a three day total of $75.5 million...
Barclays strategists have boosted their year-end outlook for the S&P 500 to 4,600 from 4,400. The analysts cited strong earnings as a factor that would bolster the market. “Consensus forecasts for future quarters have not been revised up despite the strong earnings surprise for the second quarter, continuing the trend of viewing each beat as a one-off event,” the analysts wrote, according to...
NIO Inc. announced that it will offer $2 billion of its American depositary shares through an at-the-market equity offering. An at-the-market offering allows a company to sell shares as needed at the prevailing market price. The electric vehicle maker said proceeds from the sale will be used to strengthen its balance sheet and for general corporate purposes. NIO delivered 5,880 vehicles in...
MongoDB shares received price-target hikes from several analysts, on the database platform's fiscal-second-quarter results that surpassed expectations. For the quarter ended July 31, MongoDB incurred a loss of -24 cents a share, compared with -39 cents a share loss expected by analysts polled by FactSet. Revenue rose +44% from the year-ago quarter to $198.7 million, beating analysts'...
Cirrus Logic shares rose, after Barclays analysts upgraded ratings on the semiconductor company. Barclays analysts boosted their rating on the shares of the Apple supplier to overweight from equal weight. They also increased their price target to $100 from $95. Analyst Blayne Curtis cited the path they expect on further content gains at Apple over next several years. Curtis also emphasized on...
On Tuesday, Intel Chief Executive Pat Gelsinger said that the semiconductor company planned to build new chip-manufacturing factories in Europe. The company wants to invest up to $95 billion for the same. According to The Wall Street Journal, the executive discussed the investment at an auto industry conference in Munich. Intel aims to build two new chip facilities in Europe and could...
Apple Inc. shares extended gains to a new all-time high Tuesday, after the company unveiled the date for the launch of its new line of iPhones. The iPhone maker will hold its annual product event "California Streaming" on Tuesday September 14 at its Cupertino campus. It is expected to unveil a new iPhone 13 series, and the series 7 of its AppleWatch. In its latest quarterly results, Apple...
It also reported a wider-than-expected loss for its fiscal second quarter.
Chewy reported a diluted loss of -4 cents a share, sharper than the -2cents loss a share expected by analysts polled by FactSet.It incurred a loss of -8 cents a share in the year-ago period.
The company’s sales came in at $2.16 billion, compared to the $2.2 billion estimated by analysts in FactSet survey.
Shares of Smith & Wesson fell sharply after hours Wednesday, after the gunmaker posted first-quarter revenue that fell short of analysts’ expectations, even as earnings exceeded estimates.
The company’s first-quarter non-GAAP earnings came in at $1.57 per share, compared to the $1.26 per share expected by analysts polled buy FactSet.
However, revenue of $274.6 million was below the $278.6 million expected by analysts.
The company's gross margin improved to 47.3% from 40.2% a year ago.
"We believe we are well positioned for the ever-changing market conditions in our industry, to maintain our leadership position in the industry, and continue delivering impressive profitability in any environment," CEO Mark Smith said.
Big Lots missed Wall Street estimates on fiscal second quarter earnings and revenue, amid supply chain challenges.
For the quarter ended July 31, the big-box retail company’s earnings came in at $1.09 a share, missing the Zacks Consensus Estimate of $1.13 per share.Revenue in the year-ago quarter was $1.64 billion.
Comparable sales plunged -13%, vs. the+ 31% year-over-year gain in the second quarter of 2020 when there was a shopping surge during the earlier phases of the COVID-19 pandemic.
"We know that the supply chain headwinds will continue into fall and holiday, and the situation remains fluid," said President and CEO Bruce Thorn mentioned in a statement.
Officials are divided about whether to announce it at their meeting on Sept. 20-21 or wait until November.The Fed chairman also didn’t specify the pace of the tapering.
Its earnings topped estimates.
For the fiscal 2021 third quarter, ended July 31, the homebuilding company's revenue came in at $2.26 billion, up from $1.65 billion last year.Analysts expected $1.54 a share.
On Tuesday, Toll Brothers and Equity Residential, a company focused on the acquisition, development and management of residential rental properties, announced a strategic partnership to develop new rental apartment communities in key U.S. markets.
Urban Outfitters reported second quarter results that exceeded analysts’ expectations.
The retail company’s second-quarter earnings came in at $1.28 per share, compared to analysts’ estimate of 78 cents per share.
Revenue of $1.16 billion also surpassed analysts’ expectation of $1.09 billion.
Net sales rose +20.3% compared to 2019 levels. The company’s comparable retail segment increased +22%, on the back of double-digit growth in digital channel sales that offset low-single digit decreases in retail sales.
Shares of Dave & Buster's Entertainment were rising Friday, after a rating boost at Truist.
Analysts at Truist upgraded the entertainment stock to buy from hold.
According to analyst Jake Bartlett, while the company is still in recovery mode, it will be able to weather potential headwinds.Bartlett sees Dave & Buster's as “relatively well positioned” to manage cost pressures including labor, due to new operating efficiencies and previously announced hiring initiatives, due to its low costs as a percentage of total sales.
Earlier this year, the company’s shares got a price target hike to $53 from $46 a share from analysts at Truist, as first-quarter results and current trends reflected "rapid sales recovery" , according to the analysts.