Chewy reported earnings for its fiscal-fourth quarter that crushed analysts’ expectations. Revenue almost doubled, on the back of solid online orders. For the quarter ended Jan. 31, the online retailer for pet-related products reported earnings of 5 cents a share, while analysts’ polled by Factset had expected an adjusted loss of -10 cents a share. The company had a loss of -15 cents a share...
PayPal Inc. said that it will allow customers to buy goods and services with cryptocurrencies at more than 29 million merchants globally. The payment service company will enable users with a digital wallet to convert their cryptocurrencies into fiat currency at the point of purchase. “As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto...
On Tuesday, online sports-betting company DraftKings announced that it would acquire Vegas Sports Information Network. The latter is a sports-betting-content provider. The acquisition is expected to boost DraftKings’ content capabilities and will expand VSIN’s audience reach, as indicated by DraftKings. VSiN operates out of Las Vegas, and it develops, produces, and distributes up to 18+ hours...
Tesla Inc. CEO Elon Musk cautioned that a shortage in battery cell supplies could hamper his company's ability to ramp up production of the Tesla semi truck. On a conference call following Tesla's fourth quarter earnings, Musk said that while a Tesla semi would use “typically five times the number of cells that car would use", it "would not sell for five times what a car would sell for". Musk...
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Media company News Corp. is reportedly nearing an agreement to acquire the consumer division of educational publisher Houghton Mifflin Harcourt Co. A Wall Street Journal report ,citing people familiar with the matter, mentioned that the deal could be announced as early as Monday. The agreement would add a portfolio of novels from authors such as George Orwell, Philip Roth and J.R.R. Tolkien...
On Sunday, Tencent Music Entertainment Group announced a plan to repurchase $1 billion in shares. The China-based music-streaming service has authorized a buyback of up to $1 billion in Class A shares, in the form of American depositary receipts, over the next year. “The share repurchase program is a strong indication of the board’s confidence in the company’s business outlook and long-term...
China electric carmaker NIO said that it is shutting a plant for five days, amid a global shortage in semiconductors. The temporary halt in production will start March 29, and will cut deliveries by atleast 500 vehicles in the first quarter (which implies an expected Q1 delivery of 19,500, versus prior forecast of 20,000 to 20,500). Global supply chains for semiconductors have been hurt due...
H. B. Fuller ‘s latest quarterly earnings surpassed Zacks Consensus expectations. The adhesives manufacturing company’s adjusted earnings for the quarter ended February 2021 came in at $0.66 per share, compared to Zacks Consensus Estimate of $0.46 per share. The figure is also higher than the year-ago quarter’s $0.34 per share. The company has exceeded consensus EPS estimates four times...
The Walt Disney Co. revealed plans for reconfiguration of its Disneyland theme park in Anaheim, California. Opened in 1955, Disneyland was the company’s first theme park. According to the latest plans, the park’s current footprint would not be expanded, but more theme park attractions and new hotels, retail stores, restaurants and entertainment venues would be added within the property. The...
The number of COVID-19 shots supplied in the U.S. is expected to hit 240 million by next week. According to White House, Pfizer , Moderna , and Johnson & Johnson all on pace to achieve quarterly production guides. 240 million doses would be adequate to fully vaccinate 130 million people. J&J is expected to deliver at least 11 million doses next week – that puts it on target to hit 20 million...
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.