However, the hydrogen fuel cell company’s revenue came in higher than what analysts’ expected, on the back of solid product revenue that more than doubled.
The net loss for the quarter ending March 31 was - 12 cents a share, compared to FactSet consensus estimate of -8 cents.Sales of fuel cell systems and related infrastructure climbed +128.5% to $46.77 million, while and product gross margin widened to 38% from 32% (notwithstanding unusually high freight costs).
Amazon’s proposed $8.45 billion acquisition of movie studio MGM will reportedly be reviewed by the Federal Trade Commission (FTC).
Last month, the companies announced the deal, in which Amazon seems to be aiming at boosting its Prime Video streaming platform’s content.
Citing sources familiar with the matter, The Wall Street Journal report suggested that the FTC advocated for review authority on the deal because it already has begun an antitrust query into Amazon’s business.On the antitrust issue, the Justice Department is looking at Apple and Alphabet’s Google, while the FTC is probing into Facebook and Amazon.
On Tuesday, the European Union announced that it has started an investigation into whether Alphabet’s Google has broken EU competition rules.
The European Commission is probing into whether Google is curbing competition by favoring its own online display advertising technology services in the ad-tech supply chain, to the extent of restricting access by third parties to user data for advertising purposes on websites and apps (while reserving such data for its own use).
EC will also study whether Google's policies on user tracking are in line with fair competition principles.
The analysts also hiked the price target raised to a Wall Street-high of $300 a share from $240.
Stifel analysts mentioned that a survey it conducted of CrowdStrike customers reflects the growing customer demand for consolidating security functionalities with CrowdStrike over time as well as extending their CrowdStrike deployments.
Analyst Brad Redback of Stifel said he sees significant room for CrowdStrike to gain new customers.According to Redback, the company over time can boost its customer count to more than 100,000 (that is, nearly 10 times the 11,420 customers the company reported in its January quarter).
Stifel is expecting a greater use of CrowdStrike's Falcon endpoint protection program that should enable the company to reach the higher end of its non-GAAP subscription gross-margin target range of between 77% and 82% faster than investors currently expect.
Chen boosted his price target to $30 from $28.
The analyst cited “favorable hair and salon trends” and Sally Beauty's “structural modernization efforts” as factors that should eventually lead to improved brand awareness and earnings growth.According to him, tailwinds to the company included COVID-19-driven do-it-yourself at-home trends yielding about 20% color category growth.
Chen indicated that Sally Beauty is emerging from the pandemic as a stronger retailer on the back of its digital offerings, improving store experience on rehabs, and strategic store closures.
Oppenheimer analyst Rupesh Parikh raised rating on Sally Beauty shares to outperform from perform, with a $24 price target.
Globalstar shares climbed Monday, following B. Riley’s coverage of the mobile satellite services company.
B.B. Riley analyst Mike Crawford mentioned that the company and its sponsors, “after years of development, support, and patience, are at long last starting to realize a return on satellite system and spectrum assets.”
That, according to Crawford, makes 2021 an “excellent” time to buy the company’s shares before the market incorporates this change.
Netflix and Amblin Partners, the film and television studio led by Steven Spielberg, are partnering up for Amblin to produce multiple films a year for the streaming company.
"Steven is a creative visionary and leader and, like so many others around the world, my growing up was shaped by his memorable characters and stories that have been enduring, inspiring and awakening," said Ted Sarandos, Netflix Co-CEO and chief content officer, in a statement.
Meanwhile, Spielberg will continue to direct movies for Comcast's Universal Pictures as part of a separate agreement.
Earlier this month, Netflix launched its online shop Netflix.shop, which will sell curated products such as toys and apparel.
Shares of homebuilding company Lennar were upgraded to overweight from neutral at J.P. Morgan, following second-quarter earnings beat last week. The analysts at J.P. Morgan also boosted their price target on the shares to $141 a share from $115. According to the analysts, the stock is attractive relative to its peers, and effectively not reflecting the company’s “significant and ongoing”...
On Friday, Boeing's latest version of its 737 MAX made its first test flight. This was the beginning of a comprehensive test program. The aerospace behemoth’s MAX 10 took off near Seattle. 737 chief pilot captain Jennifer Henderson said the airplane performed "beautifully". According to Henderson, the profile flown allowed the team to test the airplane's systems, flight controls and handling...
Supermarket company Kroger posted adjusted earnings of $1.19 per share for the first quarter, that exceeded the Zacks Consensus Estimate of 99 cents. However, the figure is lower than the year-ago quarter’s $1.22. Sales fell -0.6% year-over-year to $41,298 million, but surpassed the Zacks Consensus Estimate of $39,222 million. Excluding fuel, sales were -4% lower than the year-ago period...
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...