Facebook is reportedly planning to start opening its Silicon Valley offices in May, if COVID-19 cases continue to decrease. The social media giant will allow its Menlo Park, California, headquarters at 10% capacity. Its Fremont, California, offices will do so on May 17, its Sunnyvale, California, offices on May 24 and its downtown San Francisco towers on June 7. All Facebook employees can...
Novavax is reportedly delaying signing a contract to supply its COVID-19 vaccine to the EU due to production issues. According to a Reuters report, the company is struggling to source some of the raw materials for the vaccine. Earlier this year, the EU was planning to a sign a deal for at least 100 million doses of Novavax's vaccine, with an option to buy another 100 million doses. The...
Shares of semiconductor company Advanced Micro Devices got upgraded to outperform from market perform at Northland Capital Markets. The analysts cited industry peer Intel's "faux pas" as factor behind the upgrade. The investment firm cited its expectation that the semiconductor company will continue to gain market share after rival Intel "made a strategic faux pas." Intel will be competing...
The Fed is planning to lift restrictions on dividends and share buybacks for most banks after June 30. The temporary restrictions were imposed amid the coronavirus pandemic ‘s economic impact. Last June, the Fed required banks to suspend share buybacks in the third quarter and to cap shareholder dividends to the amount paid in the second quarter. However, with the economy improving, the Fed...
RH reported fourth-quarter earnings that surpassed analysts’ expectations. The company also provided first quarter guidance that indicates an expected growth of atleast +50%. Home furnishings retailer’s adjusted diluted net income came in at $5.07 a share, compared to the $4.75 a share expected by analysts polled by FactSet. The earnings are also higher than the year-ago quarter’s $3.72 a...
Home goods retail giant Bed Bath & Beyond launched a new brand called Nestwell. Nestwell will be among the eight brands the company plans to introduce between now and February 2022. Nestwell will have bedroom products like pillows, sheets, comforters, duvet covers and towels, and bath accessories like rugs and shower curtains. Expected prices are $6 for washcloths; $10 to $20 for towels; $30...
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KB Home posted its fiscal-first-quarter revenue that grew from the year-ago period but fell short of analysts’ expectations. The homebuilding company’s earnings came in at $1.02 a share compared with 63 cents a share in the year-earlier quarter. Analysts polled by FactSet had expected 92 cents a share. Revenue climbed +6.1% year-over-year to $1.14 billion, shy of the $1.21 billion predicted...
Smaller firms are a gamble.
To find companies preparing to go public, research the SEC database for new S-1 Forms.Investment banks sell ninety percent of most opening price IPO shares to institutional investors like pensions and hedge funds.
Coffee chain Starbucks Corp.’s shares got a rating upgrade from BTIG, as the latest round of federal stimulus checks is expected to boost spending on restaurants that are set to re-open. BTIG boosted its rating on Starbucks to buy from neutral, while maintaining its $130 price target. BTIG analysts mentioned in a note that the re-openings are faster than expected. They expect same-store sales...
Retail company Five Below reported fiscal-fourth-quarter net income that came in higher than analysts’ expectations. For the quarter ended Jan. 30, Five Below earned $2.20 a share compared with $1.97 a share in the year-earlier quarter. Analysts surveyed by FactSet had forecasted GAAP earnings of $2.12 a share . Net sales reached $858.5 million from $687.1 million, while analysts’ estimates...
Canadian cannabis company Sundial Growers reported fourth-quarter sales that beat analyst estimates. For the fourth quarter, Sundial’s revenues increased +4% year-over-year to C$16.9 million ($13.6 million). The figure surpassed analysts’ expectations of $11.1 million, according to FactSet. The company ‘s a net loss from continuing operations of -C$64.1 million (-$51.7 million) was narrower...
Electric truck maker Lordstown Motors posted a wider loss for the fourth quarter. It also disclosed an SEC probe following a short-seller's report. In its first report as a public company, Lordstown reported a net loss of -$38.2 million, or -23 cents a share, widened from -$7.1 million, or 10 cents. Revenue was zero, as the company hasn’t made any vehicles yet. Cash at year-end 2020 was $630...
FedEx posted earnings higher than expected by analysts, despite February’s severe weather conditions that affected operations at several of the delivery service company’s largest hubs. The company’s adjusted earnings came in at $3.47 per share in fiscal Q3 2021, surpassing analysts’ estimate of $3.23. Revenue rose +23% year-over-year to $21.51 billion , vs. analysts’ estimate of $19.97...
Sneaker giant Nike reported third-quarter earnings that topped analysts’ expectations. However, sales was hurt by port congestion in the U.S. and store closures in Europe. Adjusted earnings for the quarter came in at 90 cents per share, compared to 76 cents expected by analysts polled by Refinitiv. Revenue increased to $10.36 billion from the year-ago quarter’s $10.1 billion; analysts...
Visa is reportedly facing a probe from the U.S. Department of Justice on its debit card business. According to the Wall Street Journal, the DoJ is investigating into allegations that Visa restricted the ability of merchants to route debit card transactions in order to limit so-called 'network fees'. “The U.S. Department of Justice has informed Visa of its plans to open an investigation into...
Bank of New York Mellon Corp has invested in Fireblocks, a platform that allows banks and other financial institutes to store, move and issue cryptocurrencies. BNY Mellon’s investment was part of a $133 million funding round that included participation from hedge fund Coatue Management, investment firm Ribbit Capital, growth equity firm Stripes and SVB Capital. The latest round values...
Shares of solar energy companies Enphase Energy and SolarEdge got rating upgrades from analysts at Susquehanna. Susquehanna analysts boosted their rating on the shares to positive from neutral. Analyst Biju Perincheril said he expects U.S. solar capacity to increase by about 25 gigawatts over the next five years, an upward revision of 1 gigawatt from his January forecast, according to...
Ford shares got a price target hike and rating upgrade from analysts at Barclays. Barclays analyst Brian Johnson boosted his rating on the automaker to overweight from equalweight. The analyst raised his price target by $3 to $16 per share, a Wall Street-high that implies a near-term gain of around +28% . According to Johnson’s note, a key reason behind the upgrade is Ford's new electric...
Cruise-ship company Royal Caribbean announced that it planned to resume Caribbean sailings in June, starting from the Bahamas. Royal Caribbean is planning to include seven-night cruises onboard Adventure of the Seas from its new homeport, Nassau, Bahamas, with visits to its private island CocoCay, Grand Bahama and Cozumel, Mexico. The company said that people can start booking their cruises...