TV ratings group Nielsen Holdings shares climbed on Tuesday, after a consortium of buyers lead by activist investors Elliott Investment Management agreed to buy the company for $16 billion. Private equity buyers, including Brookfield Asset Management and Elliott affiliate Evergreen Coast Capital Corporation will pay $28 a share for Nielsen – which, alongwith the group's debts, would lead to...
Moderna and Pfizer shares climbed, after the U.S. Food & Drug Administration authorized the use of a second shot of Covid boosters developed by the pharma companies. According to the FDA, adults over the age of 50, as well as those with compromised immune systems, can receive a booster dose of either the Pfizer or Moderna vaccine at least four months after receiving the first. Peter Marks,...
Seabridge Gold Inc. reported a loss of -$6.8 million in its fourth quarter. The Toronto-based company incurred a per-share loss of - 9 cents. Losses, adjusted for non-recurring costs, were -3 cents per share. For the full- year, the company reported profit of $710,000, or 1 cent per share. Separately, the company announced that it is planning to spend $150 million this year to bring its KSM...
NIO reported a fourth quarter loss that was wider than analysts' expectations, even though the Chinese carmaker beat revenue expectations. The company’s loss for the quarter was -1.36 yuan (-$0.21), more than twice as large as the loss per share analysts expected. Revenue, however, climbed +49% from the year-ago quarter to 9.9 billion yuan, beating analysts’ expectations of 9.7 billion yuan...
Luckin Coffee posted its fourth quarter net revenues that climbed more than +80%. The company’s net new store openings during the fourth quarter was 353, implying a quarter-over-quarter store unit growth of 6.2%. The quarter ended with 6,024 stores of which 4,397 self-operated stores and 1,627 partnership stores. Luckin’s average monthly transacting customers in the fourth quarter rose +67%...
KB Home's first-quarter revenue rose +23% from the year-ago quarter to $1.40 billion, on the back of +22% growth in average sales prices. Home delivery volume was close to unchanged at 2,868. Those higher prices were enough to cover rising materials costs, as operating margin jumped 2.2 percentage points to 12.2%. Earnings rose +44% from the year-ago quarter to $1.47 per share. Backlogs...
Agile Group shares rating was boosted at Zacks Investment Research from a “sell” rating to a “hold” . Zacks report mentioned that Agile Property Holdings Limited “is engaged in the business of property development and operation, with extensive involvement in property management, commercial property and hotel operation. The company develops property development projects in several key cities...
Synnex posted earnings of $3.03 per share for the quarter ended February 2022, exceeding the Zacks Consensus Estimate of $2.74 per share. The figure is also higher than the year-ago quarter’s $1.89 per share. The IT services company’s revenues of $15.47 billion also surpassed the Zacks Consensus Estimate by 1.27%. Revenues were $4.94 billion in the year-ago quarter. The company has topped...
FactSet Research Systems Inc. posted second-quarter fiscal 2022 results that surpassed analysts’ expectations. The financial data company’s adjusted earnings rose +20.2% from the year-ago quarter to $3.27 a share, exceeding the Zacks Consensus Estimate by 10.5%. Revenues climbed +10% year-over-year to $431.1 million in the quarter also surpassed the Zacks Consensus Estimate by 1%. The...
BuzzFeed is shrinking its workforce and shifting the focus of its news division as the digital media company, in a bid to boost its profitability. The company is offering voluntary buyouts in its 100-person newsroom and some top editors are leaving. They include Mark Schoofs, the editor in chief of BuzzFeed News, Ariel Kaminer, the executive editor for investigations, and deputy editor in...
GameStop shares surged higher in pre-market trading, after it was revealed that an investment group led by chairman Ryan Cohen made a purchase of around 100,000 shares in the video game retailer. A Securities and Exchange Commission filings showed that Cohen's RC Ventures LLC now has ownership of around 9.1 million GameStop shares, which implies a 11.9% stake in the group. GameStop posted a...
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Carnival Corporation & plc posted its first-quarter fiscal 2022 earnings that fell short of Zacks Consensus Estimate. Revenue, too, lagged expectations. The cruise company’s loss came in at -$1.65 a share, wider than the Zacks Consensus Estimate of a loss of -$1.23. In the year-ago quarter, the company incurred a loss per share of -$1.79. Revenues in the quarter were $1,623 million, below...
Nike posted its fiscal third quarter earnings that surpassed analysts’ expectations, on the back of solid demand in its North American market. The sneaker giant’s earnings for the quarter came in at 87 cents per share, well above the 71 cents expected by analysts polled by Refinitiv. Revenue rose +5% year-over-year to $10.87 billion in the quarter, beating the $10.59 billion expected. Nike...
Accenture reported stellar performance in its second quarter, leading it to raise its revenue outlook. The company’s revenue grew +24% year-over-year to $15 billion in its second quarter ended February. The company’s new bookings in the quarter came in at $19.6 billion, up +22% from the year-ago period, with consulting and outsourcing revenue of $10.9 billion and $8.7 billion respectively...
GameStop reported fourth quarter revenue that surpassed analysts expectations. However, the video game retail company incurred a surprise loss for the quarter amid decelerating sales of video game console. The company posted an adjusted loss of -$1.86 per share, compared to analysts’ expected earnings of $0.84 per share. Revenue came in at $2.25 billion, beating analyst estimates of $1.95...
FedEx reported its fiscal third-quarter earnings that fell short of analysts’ expectations, as inflation hurt profit margins. The transportation/logistics company’s adjusted earnings came in at $4.59 a share, compared to $4.65 expected by analysts. The figure was $3.47 in the year-ago quarter. Revenue was $23.6 billion, vs. analysts’ expectations of $23.5 billion. The year-ago quarter...
BRC Inc., the parent of coffee retailer Black Rifle Coffee, incurred a fourth-quarter loss from a year-earlier profit. The company posted a loss of -$4.6 million, compared with net income of $976,000 in the year-earlier quarter. Revenue climbed +20% to $71.8 million. For full-year 2022, Black Rifle boosted its revenue outlook and said it would open 15 to 20 new stores to the 16 it had at...
Absa Group headline earnings more than doubled to R18.6 billion in 2021 (R8 billion in 2020), on the back of an increase in pre-provision profit and reduction in the impairments charge. Absa generates most of its income from South Africa. The country’s gross domestic product strengthened from a low base in 2020 and experienced upward momentum for most of the year. Revenue growth came in at...
Buckle reported its fourth quarter earnings that surpassed analysts’ expectations. The retail company’s adjusted earnings for the quarter ended January 2022 came in at $1.69 per share, well above the Zacks Consensus Estimate of $1.48 per share. Earnings were $1.33 per share a year ago. Buckle has surpassed consensus EPS estimates four times, over the last four quarters. Revenues of $380.93...