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: Turbo Tax maker Intuit expects to set higher fiscal 2021 guidance #FinanceUSA #StockMarketNEWS Intuit Inc. said late Tuesday it will likely surpass the high end of its fiscal 2021 full-year sales
@stockMarketNEWS 2 Days ago
Turbo Tax maker Intuit expects to set higher fiscal 2021 guidance #FinanceUSA #StockMarketNEWS
Intuit Inc. said late Tuesday it will likely surpass the high end of its fiscal 2021 full-year sales and GAAP and adjusted earnings guidance, set in February, but warned that its revenue and other metrics for its fiscal third quarter were lower than expected due to the tax-filing deadline extension to May 17. Intuit said it will update its fiscal 2021 guidance when it reports fiscal third-quarter earnings on May 25. For that quarter, the company said it expects to report sales between .165 billion to .170 billion, down from a prior guidance range of between .605 billion and .655 billion. It called for GAAP per-share earnings between .20 and .25, and adjusted EPS earnings between to .05, down from a previous range of between .75 and .85.
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: Battery startup QuantumScape posts wider Q1 loss #FinanceUSA #StockMarketNEWS QuantumScape Corp. shares fell 4% in the extended session Tuesday after the battery-maker startup reported a wider-than-expected
@stockMarketNEWS 2 Days ago
Battery startup QuantumScape posts wider Q1 loss #FinanceUSA #StockMarketNEWS
QuantumScape Corp. shares fell 4% in the extended session Tuesday after the battery-maker startup reported a wider-than-expected quarterly loss for its first quarter. QuantumScape said it lost million in the quarter, or 20 cents a share, compared with a loss of 6 cents a share in the year-ago quarter. Analysts polled by FactSet had expected a loss of 7 cents a share for the quarter. In a letter to investors, the startup said it met a contractual milestone with Volkswagen AG and delivered battery cells for further testing at the car maker, an investor in the company, which resulted in an an additional 0 million into QuantumScape in April, it said. With proceeds from its follow-on equity offering, the Volkswagen investment, and public warrant exercises, it expects to enter 2022 "with greater than (.3 billion) in liquidity, reflecting a net increase of more than 0M compared to our liquidity entering the year," it said. Shares of QuantumScape ended the regular trading day up 3.6%.
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: API data reportedly show a weekly fall in U.S. crude supply and climb in gasoline stocks #FinanceUSA #StockMarketNEWS The American Petroleum Institute reported late Tuesday that U.S. crude supplies
@stockMarketNEWS 2 Days ago
API data reportedly show a weekly fall in U.S. crude supply and climb in gasoline stocks #FinanceUSA #StockMarketNEWS
The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 2.5 million barrels for the week ended May 7, according to sources. The data, however, also reportedly showed gasoline stockpiles up by 5.6 million barrels, while distillate inventories declined by 872,000 barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, edged down by 1.2 million barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, the EIA is expected to show crude inventories down by 4.1 million barrels, according to a survey of analysts conducted by S&P Global Platts. It also forecast a supply climb 700,000 barrels for gasoline, but 2 million-barrel decline for distillates. June West Texas Intermediate crude was at .32 barrel in electronic trading, compared with Tuesday’s settlement at .28 on the New York Mercantile Exchange.
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: Gold futures mark first loss in 5 sessions #FinanceUSA #StockMarketNEWS Gold futures finished with a loss on Tuesday, putting an end to a streak of gains over the past four trading sessions. U.S. Treasury
@stockMarketNEWS 2 Days ago
Gold futures mark first loss in 5 sessions #FinanceUSA #StockMarketNEWS
Gold futures finished with a loss on Tuesday, putting an end to a streak of gains over the past four trading sessions. U.S. Treasury yields have moved up so the short-term move for gold is likely due to "fear of yields busting through their former ceiling marked this past month," said Adam Koos, president of Libertas Wealth Management Group. "If this happens, I'd expect it to put some downside pressure on gold," he said. However, the dollar is also "breaking down simultaneously," so that may provide some support for the metal. June gold fell .50, or nearly 0.1%, to settle at ,836.10 an ounce after ending Monday at the highest since Feb. 10.
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: NortonLifeLock stock surges to pace S&P 500 gainers after upbeat earnings, increased buyback program #FinanceUSA #StockMarketNEWS Shares of NortonLifeLock Inc. shot up 9.5% toward an 8-month high
@stockMarketNEWS 2 Days ago
NortonLifeLock stock surges to pace S&P 500 gainers after upbeat earnings, increased buyback program #FinanceUSA #StockMarketNEWS
Shares of NortonLifeLock Inc. shot up 9.5% toward an 8-month high in afternoon trading Tuesday, enough to pace the S&P 500's gainers, after the consumer cyber safety company reported record fourth-quarter profit and revenue that beat expectations, provided an upbeat outlook and boosted its stock repurchase program. The company reported late Monday net income for the quarter to April 2 that slipped to 4 million, or 33 cents a share, from 1 million, or 36 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 40 cents beat the FactSet consensus of 38 cents. Revenue rose 9.4% to 2 million, above the FactSet consensus of 0.2 million. For the first quarter, the company expects adjusted EPS of 40 cents to 42 cents, which compares with the FactSet consensus as of the end of April of 39 cents. Separately, the company said it was adding .5 billion to its stock repurchase program, which currently has 4 million authorization remaining. "We accelerated growth, expanded our international footprint, and added freemium capability," said Chief Executive Vincent Pilette. "In the fourth quarter alone, we added 2 million new customers, and achieved record revenue and profit." The stock has gained 11.1% year to date, while the ETFMG Prime Cyber Security ETF has slipped 2.9% and the S&P 500 has advanced 10.5%.
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: Oil futures end higher as traders eye Colonial Pipeline developments #FinanceUSA #StockMarketNEWS Oil futures settled higher on Tuesday, with the market "in a bit of a wait-and-see mode here as traders
@stockMarketNEWS 2 Days ago
Oil futures end higher as traders eye Colonial Pipeline developments #FinanceUSA #StockMarketNEWS
Oil futures settled higher on Tuesday, with the market "in a bit of a wait-and-see mode here as traders look for insight as to whether or not the Colonial Pipeline will be back up and running at normal capacity by the end of the week" as the operators suggested on Monday, said Tyler Richey, co-editor at Sevens Report Research. "If not, we could see gasoline prices go parabolic in the near term as there are already reports of panic-buying by consumers across the southeast as well as gas stations that are out of fuel." June West Texas Intermediate crude rose 36 cents, or nearly 0.6%, to settle at .28 a barrel on the New York Mercantile Exchange.
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: U.S. moving to temporarily waive Jones Act after Colonial Pipeline attack #FinanceUSA #StockMarketNEWS The Biden administration said Tuesday it is moving to temporarily waive a law that requires goods
@stockMarketNEWS 2 Days ago
U.S. moving to temporarily waive Jones Act after Colonial Pipeline attack #FinanceUSA #StockMarketNEWS
The Biden administration said Tuesday it is moving to temporarily waive a law that requires goods shipped between U.S. ports to be transported on U.S.-owned and operated vessels. The move over the Jones Act comes in response to the ransomware attack that led to a shutdown of the Colonial Pipeline, a critical artery supplying fuels to the East Coast. The U.S. Department of Transportation said in a statement that it has "started the work needed to enable consideration of a temporary and targeted waiver of the Jones Act," and that it is surveying qualified vessels that can carry petroleum products within the Gulf and from the Gulf up the Eastern Seaboard. Colonial Pipeline is working to restore the system that provides 45% of the fuel consumed on the U.S. East Coast by the end of the week.
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: Dow logs steepest daily skid in 2 1/2 months but tech-led Nasdaq stages big comeback to pare worst of Tuesday's slump #FinanceUSA #StockMarketNEWS U.S. stocks finished out a wild Tuesday session lower
@stockMarketNEWS 2 Days ago
Dow logs steepest daily skid in 2 1/2 months but tech-led Nasdaq stages big comeback to pare worst of Tuesday's slump #FinanceUSA #StockMarketNEWS
U.S. stocks finished out a wild Tuesday session lower but investors bought into the drop, helping to pare the worst of the day's steep drop. Still, the Dow Jones Industrial Average booked its worst day since Feb. 26, ending down 472 points, or 1.4%, at 34,269. At its lows, the blue-chip index was down by as many as 668 points before paring those losses. The S&P 500 index closed 0.9% lower to 4,152, while the Nasdaq Composite Index ended down less than 0.1% at 13,389, recovering from an intraday nadir at 13,107.67. Initial selling was primarily focused on technology and tech-related names, with the downturn blamed on renewed fears of a surge in inflation as the economy recovers from the COVID pandemic. Tech shares, however, saw some bids off their lows on Tuesday as investors saw buying opportunities off the day's low.
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: Apple stock slips, but has bounced sharply off 200-day moving average #FinanceUSA #StockMarketNEWS Shares of Apple Inc. fell 1.1% in midday trading Tuesday, but have bounced sharply off a key chart
@stockMarketNEWS 2 Days ago
Apple stock slips, but has bounced sharply off 200-day moving average #FinanceUSA #StockMarketNEWS
Shares of Apple Inc. fell 1.1% in midday trading Tuesday, but have bounced sharply off a key chart level, which they have stayed above since the COVID-19-pandemic induced lows more than a year ago. The technology behemoth's stock was down as much as 3.2% at its intraday low of 2.77, which was hit moments after the opening bell. The intraday low was right around the 200-day moving average (200-DMA), which currently extends to 2.81, according to FactSet. Many chart watchers believe the 200-DMA represents a dividing line between longer-term uptrends and downtrends. The stock closed even lower than current prices on March 8, at 6.36, but at that time the 200-DMA was at 4.10. The last time the stock closed below the 200-DMA was April 3, 2020. The stock had first closed below the 200-DMA on March 16, 2020, and closed below the line on 11 of 15 days through April 3. The stock has now shed 12.3% since it closed at a record 3.16 on Jan. 26, while the Nasdaq Composite has slipped 1.9% and the Dow Jones Industrial Average has run up 10.7% over the same time.
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: Stock market selloff is showing no signs of panic selling #FinanceUSA #StockMarketNEWS Despite the sharp selloff in the stock market, with the Dow Jones Industrial Average taking a 474-point, or 1.4%
@stockMarketNEWS 2 Days ago
Stock market selloff is showing no signs of panic selling #FinanceUSA #StockMarketNEWS
Despite the sharp selloff in the stock market, with the Dow Jones Industrial Average taking a 474-point, or 1.4% dive and the Nasdaq Composite shedding 0.4%, market internals are showing no signs of panic selling. In fact, some may interpret the readings as suggesting a buy-on-dip mentality is more prevalent. The NYSE Arms Index has fallen to 0.435, according to FactSet data, with levels below 0.500 viewed as suggesting panic-like buying, while the Nasdaq Arms Index declined to 0.653. The Arms Index is a volume-weighted breadth measure that tends to rise above 1.000 when the market is declining, as volume increases in declining stocks more than in advancing stocks, with rises above 2.000 viewed as depicting panic-like selling. With the Arms declining, it means the volume in advancing stocks is greater on a relative basis than volume in declining stocks. For example, the number of declining stocks is outnumbering advancers by a 5.37-to-1 margin on the NYSE and by a 2.83-to-1 margin on the Nasdaq, while volume in declining stocks is outnumber up volume by ratios of only 2.34 to 1 on the NYSE and 1.85 to 1 on the Nasdaq.
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: Rite Aid partners with DoorDash for non-prescription deliveries #FinanceUSA #StockMarketNEWS Rite Aid Corp. said Tuesday that it has partnered with DoorDash Inc. to provide delivery service for non-prescription
@stockMarketNEWS 2 Days ago
Rite Aid partners with DoorDash for non-prescription deliveries #FinanceUSA #StockMarketNEWS
Rite Aid Corp. said Tuesday that it has partnered with DoorDash Inc. to provide delivery service for non-prescription items such as cleaning products, over-the-counter medicines and grocery items. The service will be available at 2,100 Rite Aid locations across 17 states, with more than 24,000 items available via the Rite Aid app. Rite Aid stock has gained 8.9% for the year to date while the benchmark S&P 500 index is up 9.8% for the period.
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: Beyond Meat launches Thrive Market partnership with plant-based meals #FinanceUSA #StockMarketNEWS Beyond Meat Inc. said Tuesday that it has expanded its partnership with online, membership-based
@stockMarketNEWS 2 Days ago
Beyond Meat launches Thrive Market partnership with plant-based meals #FinanceUSA #StockMarketNEWS
Beyond Meat Inc. said Tuesday that it has expanded its partnership with online, membership-based Thrive Market with the addition of a number of plant-based single-serve meals, including Shepherd's Pie and green enchiladas. The meals are available in 10-pack bundles for about . Thrive will also add to the retail lineup of Beyond Meat items like sausages, meatballs and Beyond Burgers. Beyond Meat shares have slumped 16.2% for the year to date while the S&P 500 index is up 9.7% for the period.
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: Dow skids over 500 points lower, on track for worst day in 2 1/2 months as technology stocks face fresh selling Tuesday #FinanceUSA #StockMarketNEWS The Dow Jones Industrial Average early Tuesday was
@stockMarketNEWS 2 Days ago
Dow skids over 500 points lower, on track for worst day in 2 1/2 months as technology stocks face fresh selling Tuesday #FinanceUSA #StockMarketNEWS
The Dow Jones Industrial Average early Tuesday was facing heavy selling pressure, putting the blue-chip index on pace for its worst one-day drop in over 10 weeks, FactSet data show. The Dow was down by about 530 points, or 1.5%, at 34,226 Tuesday, which would represent its steepest slide since Feb. 25 when it fell 1.8%. Rising fears about inflation were being blamed for the renewed selling in the stock market, a day after the Dow hit a milestone at 35,000. Investors are betting that inflation is likely to climb steeply in coming months, driven by pent-up spending as well as supply bottlenecks. The broader market was also being sold as were international equities markets. The S&P 500 index was down 1.6% at 4,123, while the Nasdaq Composite Index was off 1.6% at 13,183, at last check.
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: Blink Charging adds more than 7,000 EV charging ports in Europe through purchase of Blue Corner #FinanceUSA #StockMarketNEWS Blink Charging Co. said Tuesday it has acquired Belgium-based electric
@stockMarketNEWS 2 Days ago
Blink Charging adds more than 7,000 EV charging ports in Europe through purchase of Blue Corner #FinanceUSA #StockMarketNEWS
Blink Charging Co. said Tuesday it has acquired Belgium-based electric vehicle charging ports operator Blue Corner N.V., for EUR20 million ( million) in cash and stock. The deal adds 7,071 charging ports across Belgium, Luxembourg, France and the Netherlands to Blink's European charging network. "We are very excited about this acquisition and the opportunity it provides Blink to have a significant presence in Europe quickly," said Blink Chief Executive Michael Farkas. "As a key contributor to the expanding EV landscape, we are continuously looking for opportunities to strategically increase our global assets while also making EV charging more accessible." Farkas noted that EVs have a "much higher" market share in Europe, as sales of plug-in EVs in Europe rose 137% to 1.4 million vehicles in 2020, compared with a 4% increase to 328,000 vehicles in the U.S., according to ev-volumes.com. Blink's stock fell 2.6% in morning trading amid a broad-market selloff, with the technology-friendly Nasdaq Composite and the S&P 500 both down 1.0%.
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: Dow falls over 300 points early Tuesday as tech stocks get slammed amid renewed inflation fears #FinanceUSA #StockMarketNEWS U.S. stock benchmarks opened solidly lower Tuesday, with inflation worries
@stockMarketNEWS 2 Days ago
Dow falls over 300 points early Tuesday as tech stocks get slammed amid renewed inflation fears #FinanceUSA #StockMarketNEWS
U.S. stock benchmarks opened solidly lower Tuesday, with inflation worries seen keeping pressure on previously highflying tech stocks. The Dow Jones Industrial Average fell 0.9%, or over 300 points, to trade at around 34,423, the S&P 500 index was down 1.2% at 4,137, while the Nasdaq Composite Index declined 1.6% to 13,185. The market's recent selloff has been mostly concentrated in tech and growth stocks as investors shift out of highflying investments and buy assets that are viewed as performing better during the expected economic improvement from the COVID pandemic. In corporate news, Novavax Inc. late Monday said revenue climbed in the latest quarter as the company saw positive results from its COVID-19 vaccine trials in the U.K. and South Africa. Shares were down 20%.
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: Domtar stock soars after buyout deal with Paper Excellence valuing company at .8 billion #FinanceUSA #StockMarketNEWS Shares Domtar Corp. soared 13.6% toward a 2 1/2-year high, after the communication
@stockMarketNEWS 2 Days ago
Domtar stock soars after buyout deal with Paper Excellence valuing company at .8 billion #FinanceUSA #StockMarketNEWS
Shares Domtar Corp. soared 13.6% toward a 2 1/2-year high, after the communication and packaging papers company announced Tuesday an agreement to be acquired by Paper Excellence in an all-cash deal with an enterprise value of .0 billion. Under terms of the deal, Paper Excellence will pay .50 for each Domtar share outstanding, representing a 17.1% premium to Monday's closing price. Based on 50.25 million shares outstanding as of April 30, the buyout price implies a market capitalization for Domtar of .79 billion. The stock had soared 19% on May 4 following media reports of a potential merger. After the deal closes, which is expected to occur in the second half of 2021, Domtar will continue operations as a stand-alone entity, and will continue to be led by its management team. "This agreement enables our shareholders to realize certain and immediate cash value at a significant premium for their shares," said Domtar Chief Executive John Williams. "This transaction validates our long-term strategic plan for our leading paper and pulp businesses." Domtar's stock has soared 49.7% year to date, while the S&P 500 has gained 11.5%.
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: Toyota expects 15% of U.S. sales to be battery, fuel cell electric vehicles by 2030 #FinanceUSA #StockMarketNEWS Toyota Motor Corp. said Wednesday it expects battery electric vehicles (BEV) and fuel
@stockMarketNEWS 2 Days ago
Toyota expects 15% of U.S. sales to be battery, fuel cell electric vehicles by 2030 #FinanceUSA #StockMarketNEWS
Toyota Motor Corp. said Wednesday it expects battery electric vehicles (BEV) and fuel cell electric vehicles (FCEV) to make up 15% of total U.S. sales by 2030. The Japan-based auto maker said that including hybrid electric vehicles (HEV) and plug-in hybrids (PHEV), 70% of the combined Toyota and Lexus vehicles sold will be electrified by 2030. Globally, Toyota expects to sell 8 million electrified vehicles by 2030, including 2 million BEVs and FCEVs. Toyota's U.S.-listed stock rose 2.6% in premarket trading, after the company reported a fiscal fourth-quarter profit that more than doubled and was well above expectations. The stock has lost 1.5% year to date through Tuesday, while shares of U.S.-based rival General Motors Co. have soared 33.8%, the iShares MSCI Japan ETF has edged up 0.3% and the S&P 500 has gained 10.5%.
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: Stocks fall in early trade after stronger-than-expected inflation data #FinanceUSA #StockMarketNEWS Stocks opened lower Wednesday, with the tech-heavy Nasdaq Composite leading major benchmarks to the
@stockMarketNEWS 2 Days ago
Stocks fall in early trade after stronger-than-expected inflation data #FinanceUSA #StockMarketNEWS
Stocks opened lower Wednesday, with the tech-heavy Nasdaq Composite leading major benchmarks to the downside after data showed a stronger-than-expected jump in the April consumer-price index. The Dow Jones Industrial Average dropped 79 points, or 0.2%, to 34,190, while the S&P 500 fell 0.5% to 4,130. The Nasdaq dropped 1% to 13,244. April CPI rose 0.8% to match the biggest monthly increase since 2009, the government said. Economists had expected a reading of 0.2%. The rate of inflation over the past year jumped to 4.2% from 2.6% in the prior month - the highest level since 2008.
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: Arthur J. Gallagher stock slips after public stock offering, used to help fund purchase of Willis Tower assets #FinanceUSA #StockMarketNEWS Shares of Arthur J. Gallagher & Co. fell 0.7% in premarket
@stockMarketNEWS 2 Days ago
Arthur J. Gallagher stock slips after public stock offering, used to help fund purchase of Willis Tower assets #FinanceUSA #StockMarketNEWS
Shares of Arthur J. Gallagher & Co. fell 0.7% in premarket trading Wednesday, after the insurance brokerage and consulting services company announced a public offering of 9 million shares of common stock. At Tuesday's stock closing price of 8.46, the offering, which represents about 4.6% of the shares outstanding, would be valued at .34 billion. The company plans to use the proceeds from the offering to fund a part of the deal announced earlier in which it buys certain Willis Towers Watson PLC's assets for .57 billion. Willis Towers and merger partner Aon PLC said the sale of the assets resolves questions raised by the European Commission and other jurisdictions related to the companies' merger, which was originally announced in March 2020. Aon's stock edged up 0.1% and Willis Tower shares slipped 0.1%, while futures for the S&P 500 dropped 0.7%.
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: Array Technologies stock plummets below IPO price after profit miss, withdrawal of guidance #FinanceUSA #StockMarketNEWS Shares of Array Technologies Inc. plummeted 32.8% to pace all Nasdaq decliners,
@stockMarketNEWS 2 Days ago
Array Technologies stock plummets below IPO price after profit miss, withdrawal of guidance #FinanceUSA #StockMarketNEWS
Shares of Array Technologies Inc. plummeted 32.8% to pace all Nasdaq decliners, putting them on track to close below their IPO price for the first time, after the maker of ground-mounting systems used in solar energy projects missed first-quarter profit expectations and withdrew its full-year outlook citing continued increases in steel and freight costs. The company went public on Oct. 15 at an IPO price of a share, and the stock closed as high as .05 on Jan. 22 before starting to sell off. The company reported late Tuesday net income that fell to .9 million, or 2 cents a share, from .7 million, or 61 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came in at 19 cents, below the FactSet consensus of 20 cents. Revenue dropped 44% to 5.9 million, due primarily to a reduction in the amount of investment tax credit (ITC) safe harbor-related shipments, but beat the FactSet consensus of 8.8 million. Gross margin decreased to 18% from 27%, amid higher input costs due to a "rapid increase in commodity prices and greater freight costs resulting in part from disruptions caused by the winter storm in Texas, as well as port closures and congestion." The stock has now tumbled 62.2% over the past three months, while the Renaissance IPO ETF has shed 26.2% and the S&P 500 has gained 4.8%.
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: MGM Resorts' Las Vegas Strip gaming floors can return to 100% occupancy, no social distancing #FinanceUSA #StockMarketNEWS MGM Resorts International said Wednesday that it was approved by the Nevada
@stockMarketNEWS 2 Days ago
MGM Resorts' Las Vegas Strip gaming floors can return to 100% occupancy, no social distancing #FinanceUSA #StockMarketNEWS
MGM Resorts International said Wednesday that it was approved by the Nevada Gaming Control Board to return to 100% occupancy and no social distancing on its gaming floors inside its properties on the Las Vegas Strip. The company said the waiver for its properties, which only applies to gaming floors, was granted given MGM's efforts to vaccinate its workforce. The 80% occupancy restrictions and 3-feet social distancing requirements are still in effect outside of the gaming floors. The properties allowed to resume full operations on its gaming floors include Bellagio Resort & Casino, MGM Grand Hotel & Casino, Mandalay Bay Resort and Casino, Park MGM, The Mirage Hotel & Casino, New York-New York Hotel & Casino, Luxor Hotel and Casino, Excalibur Hotel & Casino and ARIA Resort & Casino. "This is yet another major milestone in Las Vegas' incredible recovery and a testament to the importance of vaccination in the effort to fully reopen our community," said MGM Chief Executive Bill Hornbuckle. "We will continue working to vaccinate as many people as possible and remain vigilant with health and safety protocols designed to protect our employees, guests and community." MGM's stock, which fell 0.9% in premarket trading, has soared 180.1% over the past 12 months through Tuesday, while the S&P 500 has rallied 44.7%.
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: Global-e to go public after IPO priced at top of range, valuing company at more than .5 billion #FinanceUSA #StockMarketNEWS Global-e Online Ltd. is set to go public Wednesday, after the direct-to-consumer,
@stockMarketNEWS 2 Days ago
Global-e to go public after IPO priced at top of range, valuing company at more than .5 billion #FinanceUSA #StockMarketNEWS
Global-e Online Ltd. is set to go public Wednesday, after the direct-to-consumer, cross-border ecommerce platform company's initial public offering priced at a share, at the top of the expected range of between and a share, to value the Israel-based company at about .56 billion. The company sold 15.0 million shares in the IPO to raise 5.0 million. The stock is expected to start trading on the Nasdaq under the ticker symbol "GLBE." Goldman Sachs, Morgan Stanley and Jefferies were the lead underwriters. The company reported a net profit of 5,000 on revenue of 6.4 million in 2020, after a loss of .5 million on revenue of .9 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has tumbled 25.5% over the past three months while the S&P 500 has gained 5.5%.
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: Papa John's to repurchase some of Starboard's stake, which is being converted to common stock #FinanceUSA #StockMarketNEWS Papa John's International Inc. said Wednesday that Starboard Value L.P.'s
@stockMarketNEWS 2 Days ago
Papa John's to repurchase some of Starboard's stake, which is being converted to common stock #FinanceUSA #StockMarketNEWS
Papa John's International Inc. said Wednesday that Starboard Value L.P.'s investment in preferred shares will converted to common stock, with the pizza seller repurchasing 31% of the preferred shares before the conversion. In 2019, Starboard had invested 0 million in Papa John's Series B convertible preferred stock with a total yield of about 5.4%, which were convertible to common stock at Starboard's option at a conversion price of .06. The stock closed Tuesday 93.8% above the conversion price at .01. At the time of the investment, Starboard's stake on a as-converted basis represented about 13.2% of the outstanding common stock. With Papa John's repurchase of preferred shares, Starboard's stake will be about 9.5% of the outstanding common stock. After the repurchase and conversion, the number of outstanding shares will increase by 3.5 million shares. The company will record a 0 million charge as a result of the transactions. Papa John's stock, which was still inactive in premarket trading, has lost 11.1% over the past three months, while the S&P 500 has gained 5.5%.
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: TransUnion boosts dividend by 27% #FinanceUSA #StockMarketNEWS TransUnion said Wednesday its quarterly dividend has been raised by 27%, to 9.5 cents a share from 7.5 cents. The information and insights
@stockMarketNEWS 2 Days ago
TransUnion boosts dividend by 27% #FinanceUSA #StockMarketNEWS
TransUnion said Wednesday its quarterly dividend has been raised by 27%, to 9.5 cents a share from 7.5 cents. The information and insights company's new dividend will be payable June 10 to shareholders of record on May 26. Based on Tuesday's stock closing price 4.83, the new annual dividend rate implies a dividend yield of 0.36%, compared with the implied yield for the S&P 500 of 1.41%. TransUnion's stock, which was still inactive in premarket trading, has gained 5.7% year to date, while the S&P 500 has advanced 10.5%.
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: Moderna's new supply deal with Australia is for 25 million COVID-19 vaccine doses #FinanceUSA #StockMarketNEWS Moderna Inc. announced Wednesday a new agreement to supply 25 million doses of its
@stockMarketNEWS 2 Days ago
Moderna's new supply deal with Australia is for 25 million COVID-19 vaccine doses #FinanceUSA #StockMarketNEWS
Moderna Inc. announced Wednesday a new agreement to supply 25 million doses of its COVID-19 vaccine to Australia. The agreement includes 10 million doses of the biotechnology company's mRNA-1273 vaccine to be delivered this year and 15 million doses of its variant booster vaccine candidate to be delivered in 2022. The agreement is subject to approval of mRNA-1273 and the booster vaccine candidate by Australia's Therapeutic Goods Administration. Moderna's stock, which fell 0.2% in premarket trading, has run up 52.2% year to date through Tuesday, while the S&P 500 has gained 10.5%.
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: Coronavirus tally: Global cases of COVID-19 head toward 160 million and India suffers record one-day death toll #FinanceUSA #StockMarketNEWS The global tally for the coronavirus-borne illness climbed
@stockMarketNEWS 2 Days ago
Coronavirus tally: Global cases of COVID-19 head toward 160 million and India suffers record one-day death toll #FinanceUSA #StockMarketNEWS
The global tally for the coronavirus-borne illness climbed above 159.7 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose above 3.3 million. The U.S. continues to lead the world in cases and deaths by wide margins, with 32.8 million cases and 582,848 deaths, or about a fifth of the worldwide tallies.
India is second to the U.S. by cases at 23.3 million and third by fatalities at 254,197 The World Health Organization said late Tuesday that the double-mutant variant that first emerged there is likely far more transmissible than any other variant but without greater genomic sequencing, it was impossible to be sure, the New York Times reported. Called the B.1.627 variant, it has two spike proteins instead of one. India counted more than 360,000 new cases on Wednesday and 4,200 deaths, the most since the start of the pandemic. Experts say the true numbers are likely far higher, given the stress on India's healthcare system. .
Brazil is third with 15.3 million cases and second by fatalities at 425,540. Mexico has the fourth-highest death toll at 219,323 and 2.4 million cases, or 15th highest tally. The U.K. has 4.5 million cases and 127,890 deaths, the fifth-highest in the world and highest in Europe.
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: Wolverine World Wide profit matches forecasts while revenue comes up short, but full-year outlook lifted #FinanceUSA #StockMarketNEWS Wolverine World Wide Inc. reported a first-quarter profit that
@stockMarketNEWS 2 Days ago
Wolverine World Wide profit matches forecasts while revenue comes up short, but full-year outlook lifted #FinanceUSA #StockMarketNEWS
Wolverine World Wide Inc. reported a first-quarter profit that matched expectations but revenue that came up a bit shy, while lifting its full-year outlook amid stronger-than-anticipated ecommerce growth. The stock was still inactive in premarket trading. The footwear and apparel company, which brands include Hush Puppies, Stride Rite and Saucony, said net income tripled to .5 million, or 45 cents a share, from .0 million, or 16 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 40 cents, matching the FactSet consensus of 40 cents. Revenue rose 16.3% to 0.7 million, below the FactSet consensus of 1.8 million, with owned ecommerce revenue growing 83.6%. Cost of goods sold increased 12.0%, with gross margin improving to 43.5% from 41.4%. For 2021, the company nudged up its revenue guidance range to .24 billion to .30 billion from .19 billion to .25 billion. "Our ongoing investment in digital fueled eCommerce growth of 84%, well ahead of our expectations. Our brands are well positioned in trending, performance-oriented product categories like running, hiking, and work; and their momentum remains strong," said Chief Executive Blake Krueger. "We anticipate growth to continue to accelerate moving forward." The stock has rallied 36.8% year to date, while the S&P 500 has advanced 10.5%.
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: Lumentum stock sinks after revenue misses amid deployment delays, downbeat outlook #FinanceUSA #StockMarketNEWS Shares of Lumentum Holdings Inc. sank 6.5% toward a seven-month low in premarket trading
@stockMarketNEWS 2 Days ago
Lumentum stock sinks after revenue misses amid deployment delays, downbeat outlook #FinanceUSA #StockMarketNEWS
Shares of Lumentum Holdings Inc. sank 6.5% toward a seven-month low in premarket trading Wednesday, after the optical and photonic products company reported a fiscal third-quarter profit that matched expectations but revenue that missed, citing deployment delays in China, and provided a downbeat outlook. Net income jumped to 5.5 million, or .85 a share, from .4 million, or 56 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to .40 from .26, matching the FactSet consensus of .40. Revenue increased 4.1% to 9.5 million, below the FactSet consensus of 3.4 million. "Out of an abundance of caution, we deferred .8 million of revenue due to delays in 5G deployments in China, which decreased our reported revenue accordingly," said Chief Executive Alan Lowe. For the fourth quarter, the company expects adjusted EPS of 92 cents to .14 and revenue of 0 million to 0 million, both below the FactSet consensus for EPS of .25 and for revenue of 0 million. Lumentum's stock has dropped 12.6% over the past three months through Tuesday, while the S&P 500 has gained 5.5%.
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: : Gap to restart stock buybacks that were paused because of pandemic #FinanceUSA #StockMarketNEWS Gap Inc. GPS said late Tuesday it was resuming share buybacks that it had suspended more than a year
@stockMarketNEWS 2 Days ago
: Gap to restart stock buybacks that were paused because of pandemic #FinanceUSA #StockMarketNEWS
Gap Inc. GPS said late Tuesday it was resuming share buybacks that it had suspended more than a year ago. The company said it still has 0 million left in authorized share repurchases on its billion plan, and that it intends to buy back up to 0 million in shares this fiscal year, which ends in January. Back in March 2020, the company suspended share repurchases because of uncertainty surrounding the then-new COVID-19 outbreak. Gap shares ticked 0.3% higher after hours, following a 1% decline to close the regular session at .29. Shares are up 360% over the past 12 months, compared with a 42% gain in the S&P 500 index SPX.
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: Wendy's increases its dividend, share repurchase program and guidance #FinanceUSA #StockMarketNEWS Wendy's Co. shares rose 4.8% in Wednesday premarket trading after the fast-food chain reported
@stockMarketNEWS 2 Days ago
Wendy's increases its dividend, share repurchase program and guidance #FinanceUSA #StockMarketNEWS
Wendy's Co. shares rose 4.8% in Wednesday premarket trading after the fast-food chain reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled .4 million, or 18 cents per share, up from .4 million, or 6 cents per share, last year. Adjusted EPS of 20 cents beat the FactSet consensus for 15 cents. Revenue of 0.2 million was up from 5.0 million last year and also ahead of the FactSet consensus for 5.0 million. Global same-restaurant sales rose 13% with the U.S. up 13.5% and international sales up 7.9%. The FactSet consensus was for global 14.5% growth with the U.S. up 12%. Wendy's raised its dividend by 11% to 10 cents per share, payable on June 15, 2021 to shareholders of record as of June 1, 2021. As of May 5, there were 221 million shares outstanding. The company also raised its share repurchase plan by million to a total of 0 million. And Wendy's raised its full-year guidance. The company now expects adjusted EPS of 72 cents to 74 cents, and 8%-to-10% global systemwide sales growth. The company was previously guiding for 6%-to-8% sales growth. The FactSet consensus is for EPS of 69 cents and sales of .817 billion, implying 4.8% growth. Wendy's stock has gained 4% for the year to date while the S&P 500 index is up 10.5% for the period.
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