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...
Clorox shares got a rating downgrade from D.A. Davidson on concerns about an expected slowdown in sales following a possible peak in demand during the depths of the COVID-19 pandemic. The household products company’s shares were downgraded to neutral from buy by D.A. Davidson analyst Linda Bolton Weiser. She also cut her price target on the shares to $189 from $234. According to Weiser,...
The coronavirus vaccine developed by AstraZeneca PLC has been linked to an autoimmune reaction that can lead to deadly blood clots in rare instances, according to a study by researchers in Norway and Germany. According to the researchers in Norway and Germany, the vaccine could trigger an autoimmune reaction that causes blood to clot in the brain, the Wall Street Journal reported. The...
After the bell Monday, ViacomCBS announced that it will sell $3 billion in stock in two secondary offerings, for bolstering its streaming services among other purposes. The media behemoth plans to sell $2 billion of its Class B common stock and $1 billion of its Series A Mandatory Convertible Preferred stock. It has given the underwriters separate 30-day options to buy up to $300 million of...
Biotech company Seneca Biopharma, Inc. reported its financial results for the year ended December 31, 2020. The year saw the company entering into a definitive Merger Agreement with private company Leading BioSciences, Inc. , which specializes in developing novel therapeutics to improve human health through therapeutic protection of the gastrointestinal mucosal barrier. Net loss for 2020 came...
Zomedica's shares have lost around -28% of their value since the company announced the first sale of its Truforma system on March 16. Truforma is a diagnostic platform for dogs and cats, and is Zomedica's first commercial product. On Nov. 13, Zomedica first announced its plans to commercialize Truforma leading to investors driving the company's stock price by +2,600%! Following the massive...
Enzo Biochem posted a strong increase in revenue for its fiscal 2021 second quarter, ended Jan. 31, amid strong demand for the life sciences’ company’s testing equipment amid COVID-19 pandemic. Revenue climbed +62% year-over-year to $31.5 million in the quarter. The company’s earnings came in at 5 cents a share, compared to a year-ago loss of - 16 cents a share. “Our open system approach...
Nikola has filed to sell $100 million worth of shares in a secondary offering. The proceeds from the stock sale will be used for general corporate purposes, such as potentially providing funds to complete the company's Arizona manufacturing facility, and for developing electric and fuel cell commercial and hydrogen-station infrastructure. Last month, Nikola revealed details about its hydrogen...
Alibaba is reportedly being considered for a penalty by the Chinese government. According to unnamed sources cited by the Wall Street Journal, a record fine of more than $975 million is being mulled by the China antitrust regulators for alleged abuse of Alibaba's dominant market position. The report also indicated that regulators want Alibaba to distance itself from founder Jack Ma and to...
Retail company Costco got a rating upgrade from Wells Fargo analysts. Analyst Edward Kelly raised his rating on Costco shares to 'overweight', with a price target of $370. Kelly mentioned solid membership growth and potentially "sticky" market share gains from pandemic. The recent cooling off of shares could be a buying opportunity , according to the analyst. This month, Costco posted fiscal...