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16:48 |
KAI Kadant beats by $0.41, beats on revs; guides Q4 EPS below consensus, revs below consensus
(320.55 -1.60)
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- Reports Q3 (Sep) earnings of $2.84 per share, excluding non-recurring items, $0.41 better than the FactSet Consensus of $2.43; revenues rose 11.2% year/year to $271.61 mln vs the $266.38 mln FactSet Consensus.
- Bookings increased 15% to $240 million.
- Co issues downside guidance for Q4, sees EPS of $1.90-2.10, excluding non-recurring items, vs. $2.31 FactSet Consensus; sees Q4 revs of $252-260 mln vs. $263.09 mln FactSet Consensus.
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16:44 |
SCANX Notable earnings/guidance movers: NRDS +24.8%, ENVX +21.8%, RDDT +17.4%, UIS +15.9%, SNAP +5.5%, GOOG +4.2%, SYK +4%, CAKE +3.8% on upside; OI -22%, QRVO -14.5%, AMD -7.2%, CMG -4.1% on downside |
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- Earnings/guidance gainers: NRDS +24.8%,
ENVX +21.8%,
RDDT +17.4%,
UIS +15.9%,
EXLS +6.1%,
ATRC +6%,
SNAP +5.5%,
UDMY +5%,
ALSN +4.2%,
GOOG +4.2%,
ATGE +4%,
SYK +4%,
CAKE +3.8%,
PRO +3.3%,
FMC +3.1%,
EXE +2.4%,
EXEL +2.3%,
IEX +1.9%,
STAG +1.8%,
SKWD +1.4%,
CB +1.3%,
EA +1.3%,
V +1.3%,
WPC +1.3%
- Earnings/guidance losers: OI -22%,
QRVO -14.5%,
AMD -7.2%,
TXG -7.2%,
SAGE -5.8%,
VRNS -5.5%,
DVA -5.3%,
ALHC -4.4%,
CMG -4.1%,
WERN -3.4%,
FSLR -3.3%,
EQT -3.2%,
CZR -3.1%,
MOD -2.9%,
MTH -1.8%,
RSG -1.4%
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16:39 |
MTH Meritage beats by $0.37, reports revs in-line; guides Q4 EPS below consensus, revs in-line
(180.54 -3.94)
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- Reports Q3 (Sep) earnings of $5.34 per share, excluding non-recurring items, $0.37 better than the FactSet Consensus of $4.97; revenues fell 1.5% year/year to $1.59 bln vs the $1.58 bln FactSet Consensus.
- Co issues guidance for Q4, sees EPS of $4.10 to $4.60, excluding non-recurring items, vs. $4.67 FactSet Consensus; sees Q4 revs of $1.50 bln to $1.59 bln vs. $1.54 bln FactSet Consensus.
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16:38 |
CAKE Cheesecake Factory in slide presentation sees FY24 revs in line
(42.86 -0.39)
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- Co issues in-line guidance for FY24 (Dec), sees FY24 (Dec) revs of $3.57 bln vs. $3.58 bln FactSet Consensus; targeting net income margin of 4.5%
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16:37 |
MIR Mirion Technologies reports EPS in-line, beats on revs; reaffirms FY24 EPS guidance, raises low end of FY24 revenue guidance
(14.06 -0.16)
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- Reports Q3 (Sep) earnings of $0.08 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.08; revenues rose 8.2% year/year to $206.8 mln vs the $203.67 mln FactSet Consensus.
- Co issues guidance for FY24, reaffirms EPS of $0.37-0.42, excluding non-recurring items, vs. $0.39 FactSet Consensus; raises FY24 revenue outlook to +6-7% from +5-7%; new guidance computes as $849-857 mln vs. $849.33 mln FactSet Consensus.
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16:36 |
FMC FMC Corp beats by $0.17, beats on revs; narrows FY24 guidance
(60.18 -1.36)
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- Reports Q3 (Sep) earnings of $0.69 per share, excluding non-recurring items, $0.17 better than the FactSet Consensus of $0.52; revenues rose 8.5% year/year to $1.07 bln vs the $1.04 bln FactSet Consensus.
- Co issues narrowed guidance for FY24, sees EPS of $3.16-3.52 from $3.02-3.64, excluding non-recurring items, vs. $3.26 FactSet Consensus; sees FY24 revs of $4.33-4.44 bln from $4.30-4.50 vs. $4.36 bln FactSet Consensus.
- "We delivered revenue and earnings growth as market conditions improved although at varying rates across the regions," said Pierre Brondeau, FMC chairman and chief executive officer. "Strong volume growth in Latin America and North America more than offset lower pricing, particularly in Brazil and Argentina which accounted for two-thirds of the total company price decline. Despite suboptimal market conditions, we saw increased demand for new products, specifically fluindapyr-based fungicide products, which confirms the strength of FMC's innovation pipeline."
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16:36 |
EQT EQT Corp. beats by $0.06, misses on revs; announces divestiture
(37.31 0.00)
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- Reports Q3 (Sep) earnings of $0.12 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $0.06; revenues rose 8.2% year/year to $1.28 bln vs the $1.35 bln FactSet Consensus.
- Co announced it has entered into an agreement with Equinor USA Onshore Properties Inc. and Equinor Natural Gas LLC to sell the co's remaining interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 350 MMcf/d of forecasted 2025 net production. Consideration for the transaction is $1.25 billion of cash, subject to customary purchase price adjustments, which the co intends to use towards debt repayment. The transaction has an effective date of December 31, 2024 and is expected to close in the fourth quarter of 2024, subject to required regulatory approvals and clearances.
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16:35 |
OI O-I Glass misses by $0.08, misses on revs; lowers FY24 EPS below consensus
(12.44 -0.30)
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- Reports Q3 (Sep) loss of $0.04 per share, excluding non-recurring items, $0.08 worse than the FactSet Consensus of $0.04; revenues fell 3.7% year/year to $1.68 bln vs the $1.76 bln FactSet Consensus.
- The company has revised its full year guidance given softer than anticipated market demand.
- Co issues downside guidance for FY24, sees EPS of $0.70-0.80, excluding non-recurring items, vs. $1.13 FactSet Consensus and prior guidance of $1.00-1.25.
- Management has also revised its full-year free cash flow outlook to a use of cash between $130 and $170 million versus prior guidance of a source of $50-100 mln.
- Management is seeking to eliminate unprofitable and redundant capacity to increase network utilization and boost productivity. The company is evaluating the closure of at least 7 percent of capacity by mid-2025 to reduce the fixed base of the network and generate more than $100 million of annualized savings. As part of the 7 percent, O-I has already announced the indefinite or permanent closure of approximately 4 percent of capacity.
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16:34 |
IEX IDEX Corp beats by $0.01, beats on revs; guides FY24 EPS in-line
(203.81 -0.94)
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- Reports Q3 (Sep) earnings of $1.90 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $1.89; revenues rose 0.6% year/year to $798.2 mln vs the $793.05 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $7.85-7.90, excluding non-recurring items, vs. $7.86 FactSet Consensus and vs $7.80-7.90 prior guidance.
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16:32 |
WRAPX Closing Stock Market Summary |
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The Nasdaq Composite reached a record close, settling 0.8% higher than yesterday. The S&P 500 rose 0.2%, or about ten points. Mega caps and chipmakers contributed to the upside moves. The PHLX Semiconductor Index (SOX) closed 2.3% higher and the Vanguard Mega Cap Growth ETF (MGK) settled 0.9% higher. Alphabet (GOOG 171.14, +2.80, +1.7%) was an influential winner ahead of its earnings report after today's close. Market internals reflect an underlying negative bias in today's trade. Decliners led advancers by a 2-to-1 margin at the NYSE and by a 4-to-3 margin at the Nasdaq. Also, the Dow Jones Industrial Average (-0.4%) and Russell 2000 (-0.3%) closed lower. The price action in Treasuries kept buying in check in the equity market. Yields moved higher following a strong Consumer Confidence report for October, but ultimately settled little changed from yesterday after a strong $44 billion 7-yr note sale that made for a welcome respite from recent all-around weakness in auction demand and intraday trade. The 10-yr yield settled unchanged at 4.27% and the 2-yr yield declined two basis points to 4.12%. Market participants were also digesting a mixed slate of earnings news. D.R. Horton (DHI 167.32, -13.06, -7.2%), Ford (F 10.41, -0.96, -8.4%), and Pfizer (PFE 28.46, -0.40, -1.4%) are some of the names that closed lower after reporting results, along with Dow component McDonald's (MCD 295.00, -1.79, -0.6%), V.F. Corp (VFC 21.63, +4.60, +27.0%) and Royal Caribbean (RCL 210.10, +6.58, +3.2%) were some of the earnings-related winners today. - Nasdaq Composite: +24.7% YTD
- S&P 500: +22.3% YTD
- Dow Jones Industrial Average: +12.1% YTD
- S&P Midcap 400: +13.0% YTD
- Russell 2000: +10.4% YTD
Reviewing today's economic data: - August FHFA Housing Price Index 0.3%; Prior was revised to 0.2% from 0.1%
- August S&P Case-Shiller Home Price Index 5.2% (Briefing.com consensus 5.1%); Prior 5.9%
- October Consumer Confidence 108.7 (Briefing.com consensus 99.0); Prior was revised to 99.2 from 98.7
- The key takeaway from the report is that the increase in confidence in October was broad-based across all age groups and most income groups, and featured a substantially more optimistic view about future business conditions than the prior month. That sets up to be a supportive component for consumer spending.
- September JOLTS - Job Openings 7.443 mln; Prior was revised to 7.861 mln from 8.040 mln
- September Adv. Intl. Trade in Goods -$108.2 bln; Prior was revised to -$94.2 bln from -$94.3 bln
- September Adv. Retail Inventories 0.8%; Prior was revised to 0.7% from 0.5%
- September Adv. Wholesale Inventories -0.1%; Prior 0.2%
Wednesday's economic calendar features: - 7:00 ET: Weekly MBA Mortgage Index (prior -6.7%
- 8:15 ET: October ADP Employment Change (Briefing.com consensus 105,000; prior 143,000)
- 8:30 ET: Advance Q3 GDP (Briefing.com consensus 3.0%; prior 3.0%) and advance Q3 GDP Chain Deflator (Briefing.com consensus 2.3%; prior 2.5%)
- 10:00 ET: September Pending Home Sales (Briefing.com consensus 2.5%; prior 0.6%)
- 10:30 ET: Weekly crude oil inventories (prior +5.47 mln)
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16:32 |
SKWD Skyward Specialty Insurance Group beats by $0.06, Gross written premiums increased 12.4%
(44.75 -1.09)
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- Reports Q3 (Sep) earnings of $0.71 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $0.65.
- Gross written premiums of $400.0 million an increase of 12.4% compared to the third quarter of 2023.
- Combined ratio of 92.2% and ex-Cat combined ratio of 89.4% compared to 90.2% and 89.8%, respectively, for the third quarter of 2023.
- The loss ratios for the third quarter and first nine months of 2024 increased 2.3 points and improved 0.5 points, respectively, when compared to the same 2023 periods. The third quarter of 2024 was impacted by higher catastrophe losses, primarily from Hurricanes Helene and Beryl.
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16:31 |
NVRO New Data demonstrates long-term improvements in pain intensity with nevro's high-frequency spinal cord stimulation therapy
(5.25 +0.34)
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Analysis Marks the First Study of Spinal Cord Stimulation to Demonstrate Long-term, Significant, and Clinically Meaningful Reductions in HbA1c and Weight in Study Participants with Painful Diabetic Neuropathy and Type 2 Diabetes |
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16:30 |
ATGE Adtalem Global Education beats by $0.16, beats on revs; guides FY25 EPS in-line, revs above consensus
(74.99 +1.66)
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- Reports Q1 (Sep) earnings of $1.29 per share, excluding non-recurring items, $0.16 better than the FactSet Consensus of $1.13; revenues rose 13.2% year/year to $417.4 mln vs the $397.48 mln FactSet Consensus.
- Total
enrollment up 11.2% yr/yr.
- Co issues guidance for FY25 (Jun), sees EPS of $5.75-5.95, excluding non-recurring items, up from $5.60-5.85, vs. $5.75 FactSet Consensus; sees FY25 revs of $1.69-1.73 bln, up from $1.66-1.70 bln, vs. $1.68 bln FactSet Consensus.
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16:30 |
HURN Huron Consulting beats by $0.11, misses on revs; guides FY24 EPS in-line, revs in-line
(104.99 +0.85)
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- Reports Q3 (Sep) earnings of $1.68 per share, excluding non-recurring items, $0.11 better than the FactSet Consensus of $1.57; revenues rose 3.3% year/year to $370 mln vs the $377.63 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $6.00-$6.20, excluding non-recurring items, vs. $6.00 FactSet Consensus; sees FY24 revs of $1.47-$1.49 bln vs. $1.48 bln FactSet Consensus.
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16:30 |
MOD Modine Manufacturing beats by $0.05, beats on revs; "we are holding our current guidance ranges"
(130.31 -0.75)
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- Reports Q2 (Sep) earnings of $0.97 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $0.92; revenues rose 6.0% year/year to $658 mln vs the $646.86 mln FactSet Consensus.
- Outlook:
- "Our outlook for the data center business continues to improve, driven by strong organic growth and the strategic actions taken over the past year, including the acquisition of Scott Springfield," added Brinker. "We are gaining share with both colocation and hyperscale customers and continue to expand our product offering and our manufacturing capacity to meet market demand. In the Performance Technologies segment, we remain focused on further advancing our 80/20 initiatives and improving our business mix, as we anticipate ongoing weakness in our vehicular markets. We are holding our current guidance ranges, as we work towards delivering another record year of revenue and earnings."
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16:29 |
FE FirstEnergy misses by $0.05, misses on revs; narrows FY24 EPS in-line
(42.83 -0.85)
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- Reports Q3 (Sep) earnings of $0.85 per share, excluding non-recurring items, $0.05 worse than the FactSet Consensus of $0.90; revenues rose 6.9% year/year to $3.73 bln vs the $3.96 bln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $2.61-2.71, excluding non-recurring items, vs. $2.70 FactSet Consensus and prior guidance of $2.61-2.81.
- Increases 2024 capital investment plan from $4.3 billion to $4.6 billion, an increase of approximately 7%, and 24% higher than 2023
- "We experienced a series of unforeseen challenges in 2024, yet we remain on track to deliver against our five-year, $26 billion Energize365 capital investment program and our long-term 6% to 8% targeted annual earnings growth rate, which is based off the prior year mid-point of operating earnings guidance."
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16:28 |
UDMY Udemy beats by $0.06, beats on revs; guides Q4 revs in-line
(8.46 +0.220)
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- Reports Q3 (Sep) earnings of $0.07 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $0.01; revenues rose 5.8% year/year to $195.42 mln vs the $192.69 mln FactSet Consensus.
- Co issues in-line guidance for Q4, sees Q4 revs of $193-196 mln vs. $195.81 mln FactSet Consensus.
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16:28 |
CAKE Cheesecake Factory beats by $0.10, reports revs in-line; Q3 comps +1.6%
(42.86 -0.39)
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- Reports Q3 (Sep) earnings of $0.58 per share, excluding non-recurring items, $0.10 better than the FactSet Consensus of $0.48; revenues rose 4.3% year/year to $865.5 mln vs the $866.13 mln FactSet Consensus.
- Comparable restaurant sales at The Cheesecake Factory restaurants increased 1.6% year-over-year in the third quarter of fiscal 2024.
- The Company recorded pre-tax net income of $2.5 million related to impairment of assets and lease termination income and Fox Restaurant Concepts ("FRC") acquisition-related expenses. Excluding the after-tax impact of these items, adjusted net income and adjusted net income per share for the third quarter of fiscal 2024 were $28.2 million and $0.58, respectively.
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16:28 |
ENVX Enovix beats by $0.04, beats on revs; guides Q4 EPS in-line, revs above consensus
(10.63 -0.78)
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- Reports Q3 (Sep) loss of $0.17 per share, excluding non-recurring items, $0.04 better than the FactSet Consensus of ($0.21).
- Co issues guidance for Q4, sees EPS of ($0.21)-($0.15), excluding non-recurring items, vs. ($0.20) FactSet Consensus; sees Q4 revs of $8-$10 mln vs. $7.37 mln FactSet Consensus.
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16:27 |
THRY Thryv projects Q3 revs in-line with consensus
(18.34 +0.39)
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- Co issues in-line guidance for Q3 (Sep), sees Q3 (Sep) revs of $178-182 mln vs. $178.83 mln FactSet Consensus.
- SaaS Revenue is expected to be in the range of $86
million to $88 million, compared to $67 million in the prior period.
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16:26 |
STAG STAG Industrial reports FFO in-line, revs in-line
(37.07 -0.41)
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- Reports Q3 (Sep) funds from operations of $0.60 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.60; revenues rose 6.4% year/year to $190.74 mln vs the $189.07 mln FactSet Consensus.
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16:26 |
EXR Extra Space Storage beats by $0.06, reports revs in-line; raises FY24 FFO above consensus
(165.62 -1.84)
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- Reports Q3 (Sep) funds from operations of $2.07 per share, $0.06 better than the FactSet Consensus of $2.01; revenues rose 10.2% year/year to $824.8 mln vs the $826.93 mln FactSet Consensus.
- Co issues raised guidance for FY24, sees FFO of $8.00-8.15 from $7.95-8.15 vs. $7.99 FactSet Consensus.
- Same-store revenue decreased by (0.3)% and same-store net operating income decreased by (1.0)% compared to the same period in the prior year.
- Reported ending same-store occupancy of 94.3% as of September 30, 2024, compared to 93.7% as of September 30, 2023.
- The Company acquired 10 operating stores and one store at completion of construction for a total cost of approximately $163.9 million.
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16:26 |
BXP BXP, Inc. reports FFO in-line, beats on revs; guides FY24 FFO in-line
(86.17 -1.22)
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- Reports Q3 (Sep) FFO of $1.81 per share, in-line with the FactSet Consensus of $1.81; revenues rose 4.2% year/year to $859.23 mln vs the $829.91 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees FFO of $7.09-7.11 vs. $7.11 FactSet Consensus.
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16:25 |
ESS Essex Property beats by $0.03; guides Q4 FFO in-line
(298.43 -1.24)
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- Reports Q3 (Sep) funds from operations of $3.91 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $3.88.
- Achieved same-property revenue and net operating income ("NOI") growth of 3.5% and 2.6%, respectively, compared to the third quarter of 2023. On a sequential basis, same-property revenues improved 1.2%.
- Co issues in-line guidance for Q4, sees FFO of $3.82-$3.94, excluding non-recurring items, vs. $3.91 FactSet Consensus.
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16:25 |
VRNS Varonis Systems beats by $0.03, beats on revs; guides Q4 EPS in-line, revs in-line
(58.78 +1.40)
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- Reports Q3 (Sep) earnings of $0.10 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $0.07; revenues rose 21.1% year/year to $148.07 mln vs the $141.62 mln FactSet Consensus.
- Annual recurring revenues, or ARR, was $610.0
million as of the end of the third quarter, up 18% year-over-year.
- Co issues in-line guidance for Q4, sees EPS of $0.13-0.14, excluding non-recurring items, vs. $0.14 FactSet Consensus; sees Q4 revs of $162-167 mln vs. $163.04 mln FactSet Consensus.
- Co anticipates FY24 ARR of $635.0 million to $639.0 million, or year-over-year growth of 17% to 18%.
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16:25 |
TV TelevisaUnivision comments on unusual movements in the share price; confirms that the Company did not operate its repurchase program
(2.48 +0.29)
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- In relation to the unusual movements presented today in the trading of its securities identified with the ticker TLEVISA CPO, Grupo Televisa, S.A.B. is not aware of the reasons that may have caused this.
- Televisa ; and that it is not aware that any of the members of its Board of Directors or any of its relevant executive officers participated in such trading. In the event that, after making a more exhaustive review, additional information is identified in this regard, this information will be disseminated by these means and in accordance with regulatory requirements.
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16:23 |
NGVT Ingevity beats by $0.22, reports revs in-line; reaffirms FY24 revs guidance
(35.30 -0.41)
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- Reports Q3 (Sep) earnings of $1.10 per share, excluding non-recurring items, $0.22 better than the FactSet Consensus of $0.88; revenues fell 15.5% year/year to $376.9 mln vs the $376.95 mln FactSet Consensus.
- Co reaffirms guidance for FY24, sees FY24 revs of $1.40-1.50 bln vs. $1.42 bln FactSet Consensus. Co also reaffirms FY24 adjusted EBITDA guidance of $350-360 mln.
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16:23 |
ZWS Zurn Elkay Water Solutions beats by $0.02, reports revs in-line; sees Q4 core net sales growth of low single digits
(35.92 -0.16)
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- Reports Q3 (Sep) earnings of $0.34 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.32; revenues rose 2.9% year/year to $410 mln vs the $406.15 mln FactSet Consensus.
- Co added, "Based on demand trends as we exited the third quarter and the month of October,
we believe core net sales for the fourth quarter will be up low
single digits and adjusted EBITDA will be between $88 million and $90
million."
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16:23 |
WERN Werner Enterprises misses by $0.06, misses on revs
(38.31 +0.13)
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- Reports Q3 (Sep) earnings of $0.15 per share, excluding non-recurring items, $0.06 worse than the FactSet Consensus of $0.21; revenues fell 8.8% year/year to $745.7 mln vs the $765.24 mln FactSet Consensus.
- "Freight conditions remained challenging while tightening late in the quarter from hurricane related supply chain disruptions... Pricing and margin pressures persist in Logistics, and resale equipment values remain low."
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16:23 |
FE FirstEnergy's Ohio electric companies file to withdraw Electric Security Plan
(42.83 -0.85)
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- FirstEnergy's Ohio electric companies -- Ohio Edison, The
Illuminating Company, and Toledo Edison -- have filed a notice with the Public
Utilities Commission of Ohio to withdraw their current Electric Security Plan 5, which took effect
on June 1. If approved by the PUCO, the
companies would revert to their prior ESP4,
which was in effect through May 31, 2024.
- Under the ESP4 framework, FirstEnergy's Ohio electric companies provided customers with
reliable and affordable power for eight years. Reverting to the plan will help
address uncertainties created in ESP5 that the
companies had expected to resolve through the rehearing process. A recent Ohio
Supreme Court decision unrelated to the ESP
ended the potential for a rehearing and prevented the companies from obtaining
certainty for themselves and their customers in ESP5. FirstEnergy's ESP4 would remain in effect until a new ESP is filed
and approved.
- Returning to ESP4 is estimated to result in a bill reduction of about $2.00 for a typical FirstEnergy Ohio
non-shopping residential customer using about 750-kilowatt hours of
electricity per month.
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16:23 |
AMH American Homes 4 Rent beats by $0.01, reports revs in-line; guides FY24 FFO in-line
(37.80 -0.44)
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- Reports Q3 (Sep) funds from operations of $0.44 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.43; revenues rose 5.5% year/year to $445.06 mln vs the $443.81 mln FactSet Consensus.
- Co narrows guidance for FY24, sees FFO of $1.76 to $1.78 from $1.74 to $1.78 vs. $1.76 FactSet Consensus.
- Co acquired portfolio of nearly 1,700 single-family homes for approx $480 mln.
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16:22 |
OKE ONEOK misses by $0.05; guides FY24 EPS above consensus
(95.55 -0.47)
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- Reports Q3 (Sep) earnings of $1.18 per share, $0.05 worse than the FactSet Consensus of $1.23.
- Co issues upside guidance for FY24, sees EPS of $5.11 vs. $5.07 FactSet Consensus. ONEOK increased 2024 net income guidance to a range of $2.87 billion to $3.02 billion, compared with the previous range of $2.73 billion to $3.03 billion. Adjusted EBITDA guidance increased to a range of $6.20 billion to $6.35 billion, compared with ONEOK's previous range of $6.025 billion to $6.325 billion.
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16:22 |
CB Chubb beats by $0.74, misses on revs
(287.11 -2.82)
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- Reports Q3 (Sep) earnings of $5.72 per share, excluding non-recurring items, $0.74 better than the FactSet Consensus of $4.98; revenues rose 5.5% year/year to $13.83 bln vs the $14.16 bln FactSet Consensus.
- Pre-tax catastrophe losses were $765 million, including $250 million from Hurricane Helene, compared with $670 million last year.
- Pre-tax net investment income was $1.51 billion, up 14.7%, and adjusted net investment income was $1.64 billion, up 15.9%. Both were records.
- Life Insurance net premiums written were $1.55 billion, up 6.8%, or 10.6% in constant dollars, and segment income was $284 million, up 2.3% in constant dollars, with International Life up 9.1%. Life
- Insurance net premiums written and deposits collected were $2.14 billion, up 16.1%, or 19.9% in constant dollars.
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16:22 |
UNM Unum Group beats by $0.03, misses on revs
(61.63 -0.22)
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- Reports Q3 (Sep) earnings of $2.13 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $2.10; revenues rose 4.0% year/year to $3.22 bln vs the $3.26 bln FactSet Consensus.
- Book value per common share of $59.36 grew 20.4 percent over the year-ago quarter; book value per common share excluding accumulated other comprehensive income (AOCI) of $74.15 grew 13.3 percent over the year-ago quarter.
- Outlook:
- Full-year 2024 outlook of an increase in after-tax adjusted operating income per share of 10 percent to 15 percent when comparing to full-year 2023.
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16:21 |
CTRE CareTrust REIT announces updated investments pipeline of $700 million including agreement to acquire $500 million portfolio in Southeast by year end
(31.92 +0.61)
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- The acquisition is subject to customary closing conditions, and there can be no assurance that the transaction will close in the anticipated timeframe, or at all.
- The Company anticipates that the transaction will close in the fourth quarter of 2024.
- The acquisition will be completed through a joint venture arrangement entered into between CareTrust and a large third-party healthcare real estate owner. In connection with the joint venture's acquisition of the portfolio, CareTrust expects to provide a combined common equity and preferred equity investment amount totaling approximately $442 million at an initial contractual yield on its combined preferred and common equity investments in the joint venture of approximately 9.0%.
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16:21 |
NRDS NerdWallet misses by $0.04, beats on revs; guides Q4 revs above consensus; approves up to $25 mln for repurchases
(11.32 -0.26)
|
|
- Reports Q3 (Sep) net of breakeven, $0.04 worse than the FactSet Consensus of $0.04; revenues rose 25.2% year/year to $191.3 mln vs the $168.25 mln FactSet Consensus.
- Had 22 million average Monthly Unique Users (MUUs), which was down 7%
year-over-year. Saw broad pressure from organic traffic declines partially
offset by strong engagement in areas such as investing and insurance.
- Co issues upside guidance for Q4, sees Q4 revs of $164-172 mln vs. $151.95 mln FactSet Consensus.
- Approves a new share repurchase authorization under which may repurchase up to $25 million of our Class A common stock.
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16:20 |
PRO PROS Holdings beats by $0.05, reports revs in-line; guides Q4 EPS above consensus, revs below consensus; CEO to retire, has begun search for new CEO
(19.37 +0.31)
|
|
- Reports Q3 (Sep) earnings of $0.14 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $0.09; revenues rose 7.1% year/year to $82.7 mln vs the $82.32 mln FactSet Consensus.
- Co issues mixed guidance for Q4, sees EPS of $0.12-0.14, excluding non-recurring items, vs. $0.08 FactSet Consensus; sees Q4 revs of $84.1-85.1 mln vs. $85.18 mln FactSet Consensus.
- Co also announces that CEO Andres Reiner intends to retire. Mr. Reiner will remain in his role through the completion of the search for his successor and serve as an advisor for a 12-month period thereafter to ensure a seamless succession. Co's Board of Directors is executing its succession plan and searching for the next CEO with the assistance of a nationally recognized executive search firm.
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16:20 |
LSTR Landstar System misses by $0.04, reports revs in-line
(180.57 -1.07)
|
|
- Reports Q3 (Sep) earnings of $1.41 per share, $0.04 worse than the FactSet Consensus of $1.45; revenues fell 5.8% year/year to $1.21 bln vs the $1.22 bln FactSet Consensus.
- The number of loads hauled via truck declined 7.7% in the 2024 third quarter as compared to the 2023 third quarter, slightly ahead of the mid-point of the Company's guidance included in its 2024 second quarter earnings release slide presentation, dated July 30, 2024.
- Truck revenue per load increased 0.7% in the 2024 third quarter as compared to the 2023 third quarter, within the lower half of the range of the Company's previously provided guidance.
- "Consistent with the first half of 2024, the freight environment during the third quarter remained challenging."
- Landstar also announced today that its Board of Directors declared a quarterly dividend of $0.36 per share payable on December 10, 2024, to stockholders of record as of the close of business on November 19, 2024.
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16:19 |
CBRL Cracker Barrel issues presentation highlighting next era of value creation
(49.28 -0.67)
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LEBANON, Tenn.
, Oct. 29, 2024 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today posted an investor presentation in connection with its Annual Meeting of Shareholders on November 21, 2024. The presentation underscores the deliberate and thoughtful actions taken by Cracker Barrel's Board and leadership team to dramatically increase the pace of change and set a clearer path toward sustainable long-term growth. This includes the recruitment of a world-class CEO, Julie Masino, and the development and implementation of a long-term strategic transformation plan, which is showing early signs of success. |
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16:19 |
PK Park Hotels & Resorts reports FFO in-line, revs in-line; Company says its not in position to update FY24 guidance due to uncertainty surrounding continuing negotiations between Park's operators and labor unions
(14.05 +0.09)
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|
- Reports Q3 (Sep) funds from operations of $0.49 per share, in-line with the FactSet Consensus of $0.49; revenues fell 4.4% year/year to $649 mln vs the $646.15 mln FactSet Consensus.
- Outlook: Park is not in a position to update its full-year 2024 outlook at this time due to the uncertainty surrounding continuing negotiations between Park's operators and labor unions and the related impacts on operating results, which was not factored into Park's prior outlook. Park will provide a revised outlook once the appropriate agreements have been ratified and Park has a better understanding of the impacts to its operating results.
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16:19 |
DNB Dun & Bradstreet has expanded its collaboration with Databricks, the Data and AI company, to deliver its comprehensive business data and analytics on hundreds of millions of businesses and other commercial entities around the globe through the Databricks Marketplace
(10.88 +0.02)
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- This partnership utilizes the Databricks Data Intelligence Platform to enhance
the accessibility and scalability of Dun & Bradstreet's in-depth datasets
and analytical insights.
- As a result of this expansion, organizations will benefit from near real-time updates to business records, risk
information and commercial opportunities, helping to optimize workflows and
improving decision-making. From compliance challenges and credit decisioning, to
ESG reporting and supply chain modelling,
leaders will be better placed to identify areas for growth, manage risk and achieve a deeper
understanding of customers and prospects.
- This broader collaboration will enable
customers to leverage Dun & Bradstreet's global datasets using Databricks'
Delta Sharing, providing seamless and secure access to company and financial
insights. This integration improves time to value and offers a trusted
foundation for both data delivery and AI capabilities.
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16:18 |
AMD Advanced Micro Devices reports EPS in-line, beats on revs; guides Q4 revs in-line
(166.25 +6.33)
|
|
- Reports Q3 (Sep) earnings of $0.92 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.92; revenues rose 17.6% year/year to $6.82 bln vs the $6.71 bln FactSet Consensus.
- Data Center segment revenue of $3.5 billion was
up 122% year-over-year and 25% sequentially primarily driven by the strong ramp
of AMD Instinct GPU shipments and growth
in AMD EPYC CPU sales.
- Client segment revenue was $1.9 billion, up 29%
year-over-year and 26% sequentially primarily driven by strong demand for Zen
5 AMD Ryzen processors.
- Gaming segment revenue was $462 million, down
69% year-over-year and 29% sequentially primarily due to a decrease in
semi-custom revenue.
- Embedded segment revenue was $927 million, down
25% year-over-year as customers normalized their inventory levels. On a
sequential basis, revenue increased 8% as demand improved in several end markets.
- Co issues in-line guidance for Q4, sees Q4 revs of $7.2-7.8 bln vs. $7.55 bln FactSet Consensus.
- Non-GAAP gross margin is expected to be approximately 54%.
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16:18 |
SYK Stryker beats by $0.10, beats on revs; guides FY24 EPS in-line
(359.01 +3.00)
|
|
- Reports Q3 (Sep) earnings of $2.87 per share, excluding non-recurring items, $0.10 better than the FactSet Consensus of $2.77; revenues rose 11.9% year/year to $5.49 bln vs the $5.37 bln FactSet Consensus.
- Co narrows guidance for FY24, sees EPS of $12.00 to $12.10 from $11.90 to $12.10, excluding non-recurring items, vs. $12.01 FactSet Consensus.
- FY24 organic net sales growth expected between 9.5% and 10.0%.
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16:18 |
ASB Assoc Banc-Corp increases quarterly cash dividend to $0.23/share from $0.22/share
(23.55 -0.23)
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16:17 |
IMKTA Ingles Markets announces improvements since Hurricane Helene impacted the operation of both the company's stores and its distribution center
(61.51 -0.38)
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|
- Of our 198 stores, 194 stores are currently open. Four of our stores sustained
damage due to flooding and winds and are temporarily closed. We expect all four
to reopen over the next three to nine months. Our distribution center is fully
operational and has returned to normal operations.
- We have currently estimated that the financial impact of inventory
and property loss will be between $35 and $55 million, for
which we expect between $10 to $15 million of
insurance reimbursement, and such impact will be included in our results of
operations for our fiscal quarter and year
ended September 28, 2024. Due to the complexity and preliminary nature of the information currently
available to us, the ultimate financial impact of inventory and property loss
may differ materially from our current estimates, which are subject to
uncertainties, including those identified below in our Cautionary Note Regarding
Forward-Looking Statements.
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16:17 |
RSG Republic Services beats by $0.20, misses on revs; guides FY24 revs below consensus
(204.32 +3.90)
|
|
- Reports Q3 (Sep) earnings of $1.81 per share, excluding non-recurring items, $0.20 better than the FactSet Consensus of $1.61; revenues rose 6.5% year/year to $4.08 bln vs the $4.12 bln FactSet Consensus.
- Co issues downside guidance for FY24, sees FY24 revs near the low end of its full-year 2024 guidance range of $16.075-16.125 bln vs. $16.11 bln FactSet Consensus.
- The Company expects to achieve the high end of its full-year 2024 adjusted EBITDA guidance range.
- Republic previously announced that its Board of Directors declared a regular quarterly dividend of $0.58 per share for shareholders of record on January 2, 2025. The dividend will be paid on January 15, 2025.
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16:16 |
DCI Donaldson announces that Scott Robinson, chief financial officer, will retire from his current role effective October 31st, 2024
(74.94 +0.08)
|
|
Brad Pogalz, currently vice president, global financial planning and analysis, will assume the role of chief financial officer. Mr. Robinson will remain in an advisory role through December 6, 2024, working closely with Mr. Pogalz to ensure a smooth transition. |
|
16:16 |
EXEL Exelixis beats by $0.13, beats on revs; raises FY24 revenue guidance
(28.73 +0.23)
|
|
- Reports Q3 (Sep) earnings of $0.47 per share, excluding non-recurring items, $0.13 better than the FactSet Consensus of $0.34; revenues rose 14.3% year/year to $539.5 mln vs the $490.31 mln FactSet Consensus.
- Co raises guidance for FY24, sees FY24 revs of $2.150-$2.200 bln, vs. prior guidance of $1.975-$2.075 bln, above the $2.05 bln FactSet Consensus.
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16:16 |
CMG Chipotle Mexican Grill beats by $0.02, reports revs in-line; comps +6.0%; reaffirms FY24 comp guidance
(60.48 -0.11)
|
|
- Reports Q3 (Sep) earnings of $0.27 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.25; revenues rose 13.0% year/year to $2.79 bln vs the $2.82 bln FactSet Consensus.
- Q3 comparable restaurant sales increased +6.0%.
- Co says the long-awaited return of Smoked Brisket drove another quarter of strong results led by transaction growth.
- Co reaffirms FY24 comp guidance of mid to high-single digits; reaffirms outlook for FY24 company-operated restaurant openings at 285-315.
- For 2025, management is anticipating the following: 315-345 new company-operated restaurant openings with over 80% having a Chipotlane.
|
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16:16 |
SNAP Snap beats by $0.22, reports revs in-line; guides Q4 revs below consensus; authorized a stock repurchase program of up to $500 mln
(11.71 +0.18)
|
|
- Reports Q3 (Sep) earnings of $0.08 per share, excluding non-recurring items, $0.22 better than the FactSet Consensus of ($0.14); revenues rose 15.4% year/year to $1.37 bln vs the $1.36 bln FactSet Consensus. Adjusted EBITDA was $132 million, compared to $40 million in the prior year.
- "We continued to make meaningful progress in growing our global community, reaching 443 million DAU in Q3, an increase of 11 million quarter-over-quarter. DAU in North America was 100 million, approximately flat year-over-year, but up quarter-over-quarter as our initiatives to increase user engagement begin to show early signs of progress. DAU in Europe was 99 million, compared to 97 million in the prior quarter and 95 million in the prior year. DAU in Rest of World was 244 million, compared to 235 million in the prior quarter and 211 million in the prior year."
- Co issues downside guidance for Q4, sees Q4 revs of $1.51-1.56 bln vs. $1.56 bln FactSet Consensus. "As we enter Q4, we anticipate continued growth of our global community and our Q4 guidance is built on the assumption that DAU will be approximately 451 million in Q4. We are excited about the potential for Simple Snapchat, Sponsored Snaps, and Promoted Places to contribute to top line growth over time. In particular, we are encouraged by early testing results that show content engagement gains among less frequently engaged users of Snapchat as we believe this can be an important input to impression growth and incremental reach for advertisers."
- Snap Inc. announces its board of directors has authorized a stock repurchase program of up to $500 million of its Class A common stock. Repurchases of the Class A common stock may be made from time to time, either through open market transactions (including through Rule 10b5-1 trading plans) or through privately negotiated transactions in accordance with applicable securities laws. The timing and actual number of shares repurchased will depend on a variety of factors, including stock price, trading volume, market and economic conditions, and other general business considerations. Repurchases under the program have been authorized for 12 months but the program may be initiated, modified, suspended, or terminated at any time during such period.
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16:14 |
ALSN Allison Transmission beats by $0.24, beats on revs; raises FY24 revs guidance
(100.15 +0.30)
|
|
- Reports Q3 (Sep) earnings of $2.27 per share, $0.24 better than the FactSet Consensus of $2.03; revenues rose 12.0% year/year to $824 mln vs the $790.08 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees FY24 revs of $3.135-$3.215 bln (from prior $3.09-$3.17 bln) vs. $3.17 bln FactSet Consensus.
- Sees net income between $675 to $725 million (from prior $650 to $700 million).
- Adjusted EBITDA in the range of $1,115 to $1,175 million (from prior $1,085 to $1,145 million).
- Net Cash Provided by Operating Activities in the range of $740 to $800 million (from prior $715 to $775 million).
- Adjusted Free Cash Flow in the range of $605 to $655 million (from prior $590 to $640 million).
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16:14 |
DVA DaVita misses by $0.13, reports revs in-line; guides FY24 EPS in-line
(158.21 +1.16)
|
|
- Reports Q3 (Sep) earnings of $2.59 per share, excluding non-recurring items, $0.13 worse than the FactSet Consensus of $2.72; revenues rose 4.6% year/year to $3.26 bln vs the $3.25 bln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $9.25-$10.05, excluding non-recurring items, vs. $9.90 FactSet Consensus.
|
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16:13 |
THRY Thryv announces public offering of $75 mln of common stock
(18.34 +0.39)
|
|
Thryv intends to use the net proceeds from this offering to fund a portion of the purchase price for its previously announced acquisition of Infusion Software, Inc. (d/b/a Keap). |
|
16:12 |
V Visa beats by $0.13, beats on revs; increases dividend
(281.88 -2.31)
|
|
- Reports Q4 (Sep) earnings of $2.71 per share, excluding non-recurring items, $0.13 better than the FactSet Consensus of $2.58; revenues rose 11.7% year/year to $9.62 bln vs the $9.49 bln FactSet Consensus.
- Payments volumes up 8%.
- Cross-border volumes excluding Intra-Europe up 13%.
- Cross-border volume total up 13%.
- Fiscal
fourth quarter growth in payments volume, cross-border volume and processed
transactions remained relatively stable.
- The
board of directors increased Visa's quarterly cash dividend 13% to $0.590 per
share.
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16:12 |
THRY Thryv has signed a definitive agreement to acquire Infusion Software
(18.34 +0.39)
|
|
- Infusion Software, a prominent player in customer relationship management and marketing automation for SMBs.
- Total transaction value of $80 million, paid in cash, subject to
customary adjustments.
- The transaction is expected to close in the fourth quarter of 2024, subject to satisfaction or
waiver of closing conditions.
- Keap generated approximately $85 million of revenue during the trailing twelve months through
June 30, 2024.
- The acquisition is expected to be
funded by anticipated proceeds from an equity financing and borrowings under the Company's
existing credit facility.
|
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16:12 |
RDDT Reddit beats by $0.23, beats on revs, Daily Active Uniques increased 47% yr/yr; guides Q4 revs above consensus
(81.74 +2.06)
|
|
- Reports Q3 (Sep) earnings of $0.16 per share, $0.23 better than the FactSet Consensus of ($0.07); revenues rose 67.9% year/year to $348.4 mln vs the $313.61 mln FactSet Consensus.
- Daily Active Uniques ("DAUq") increased 47% year-over-year to 97.2 million.
- Adjusted EBITDA1 was $94.1 million, as compared to $(6.9) million in the prior year.
- Co issues upside guidance for Q4, sees Q4 revs of $385-$400 mln vs. $360.01 mln FactSet Consensus. Sees Adjusted EBITDA in the range of $110 million to $125 million.
|
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16:11 |
LFVN LifeVantage reports full clinical results including average of 140% increase in GLP-1 with the MindBody GLP-1 System
(12.98 -0.51)
|
|
SALT LAKE CITY, Oct. 29, 2024 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq: LFVN), a leader in health and wellness solutions designed to activate optimal health processes at the cellular level, today announced groundbreaking results from a human clinical trial performed on the new MindBody GLP-1 System. Results from the trial included a 140% average increase in GLP-1 levels in the body leading to an average weight loss of 9 pounds in 8 weeks and up to 25 pounds in 12 weeks in participants. O |
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16:11 |
MIR Mirion Technologies has been awarded two significant contracts to support the Sizewell C project, a new 3.2-gigawatt power station for Britain
(14.07 -0.14)
|
|
- Leveraging EDF expertise and EPR (European Pressurised Reactor) technology,
Sizewell C will generate low-carbon electricity sufficient to power
approximately 6 million homes. The
development, based in East Suffolk, will mirror the design of the Hinkley Point
C nuclear power station currently under construction in the Somerset region.
- As a key supplier to nuclear power plants globally, Mirion Technologies has
demonstrated its capability and commitment to delivering high-quality, reliable
solutions for critical new power stations.
|
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16:10 |
PACS PACS Group announces that independent operating subsidiaries of the Co have agreed to acquire the operations of 12 skilled nursing facilities in Tennessee, and collectively comprise 1,310 skilled nursing beds
(42.23 +0.50)
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16:10 |
SAGE SAGE Therapeutics beats by $0.01, beats on revs
(8.48 -0.06)
|
|
- Reports Q3 (Sep) loss of ($1.53) per share, $0.01 better than the FactSet Consensus of ($1.54); revenues rose 337.1% year/year to $11.87 mln vs the $10.8 mln FactSet Consensus.
- Sage and Biogen will not pursue further development of
zuranolone in major depressive disorder (MDD) in the U.S.
- Topline data from the DIMENSION Study in Huntington's
Disease (HD) expected late 2024
- Guidance:
- The Company does not anticipate receipt of any milestone payments from
collaborations in the remainder of 2024.
- The Company anticipates operating expenses will decrease in 2025 relative to
2024.
- With the uptake of ZURZUVAE as an oral treatment for women with PPD, the
Company anticipates ZULRESSO use will continue to decrease and has decided to no
longer make ZULRESSO commercially available as of December 31, 2024.
|
|
16:10 |
WPC W.P. Carey beats by $0.01, beats on revs; guides FY24 FFO below consensus
(56.72 -0.76)
|
|
- Reports Q3 (Sep) AFFO of $1.18 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $1.17; revenues fell 11.9% year/year to $394.78 mln vs the $377.43 mln FactSet Consensus.
- Co issues downside guidance for FY24, sees AFFO of $4.65-4.71, excluding non-recurring items, vs. $4.72 FactSet Consensus.
|
|
16:10 |
AWK American Water Works subsidiary, Pennsylvania American Water, announces that it completed the purchase of the Butler Area Sewer Authority wastewater system for $230 mln
(135.80 -2.99)
|
|
- The newly acquired wastewater system in Butler County serves more than 15,000 customer connections across 32.5 square miles, including the City of Butler; parts of East Butler Borough; and portions of Butler, Center, Connoquenessing, Summit and Oakland Townships.
- Pennsylvania American Water plans to invest more than $75 mln during the next five years to upgrade the BASA wastewater treatment and
collection systems. These upgrades include replacing pump stations, improving
electrical safety and treatment procedures, conducting systemwide assessments
and inspections and cleaning and rehabilitating sewer collection mains and
manholes.
- In addition to the system investments above, Pennsylvania American Water will
nearly double the shareholder contribution to its hardship grant program,
increasing the fund by $3.5 million over five years. Also,
Pennsylvania American Water's commercial customers can now access a payment
arrangement program previously limited to residential customers.
|
|
16:09 |
MDLZ Mondelez Int'l beats by $0.14, reports revs in-line
(69.15 -0.39)
|
|
- Reports Q3 (Sep) earnings of $0.99 per share, excluding non-recurring items, $0.14 better than the FactSet Consensus of $0.85; revenues rose 1.9% year/year to $9.2 bln vs the $9.11 bln FactSet Consensus.
- Gross profit decreased $495 million, and gross profit margin decreased 610 basis points to 32.6 percent primarily driven by unfavorable year-over-year change in mark-to-market impacts from derivatives and the impact of our 2023 divestiture of the developed market gum business, partially offset by an increase in Adjusted Gross Profit1 margin. Adjusted Gross Profit increased $378 million at constant currency, and Adjusted Gross Profit margin increased 230 basis points to 40.5 percent due primarily to higher pricing and lower manufacturing costs driven by productivity, partially offset by higher raw material and transportation costs.
- Outlook:
- For 2024, the company reaffirms Organic Net Revenue growth to be at the upper end of 3 to 5 percent and high single-digit Adjusted EPS growth on a constant currency basis based on 2023 Adjusted EPS incl. developed market gum. The company expects 2024 Free Cash Flow of $3.5+ billion. The company estimates currency translation would decrease 2024 net revenue growth by approximately 1.5 percent with a negative $0.11 impact to Adjusted EPS.
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16:08 |
ATRC AtriCure beats by $0.02, beats on revs; guides FY24 EPS in-line, revs above consensus
(29.43 +0.68)
|
|
- Reports Q3 (Sep) loss of $0.17 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of ($0.19); revenues rose 17.9% year/year to $115.91 mln vs the $112.23 mln FactSet Consensus.
- Co narrows guidance for FY24, sees EPS of ($0.80) to ($0.74) from ($0.82) to ($0.74), excluding non-recurring items, vs. ($0.79) FactSet Consensus; sees FY24 revs of $459 mln to $462 mln from $456 mln to $461 mln vs. $458.17 mln FactSet Consensus.
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|
16:07 |
GOOG Alphabet beats by $0.28, beats on revs, Google Advertising revenue up 10.4%, Google Cloud revenue up 35%
(171.14 +2.80)
|
|
- Reports Q3 (Sep) earnings of $2.12 per share, $0.28 better than the FactSet Consensus of $1.84; revenues rose 15.1% year/year to $88.27 bln vs the $86.39 bln FactSet Consensus.
- Google Advertising revenue up 10.4% yr/yr to $65.9 bln.
- Google Search & Other revenue up 12.2% to $49.4 bln.
- YouTube ads revenue up 12.2% yr/yr to $8.9 bln.
- Google Cloud revenues increased 35% to $11.4 billion led by accelerated growth in Google Cloud Platform (GCP) across AI Infrastructure, Generative AI Solutions, and core GCP products.
- Total operating income increased 34% and operating margin percent expanded by 4.5 percentage points to 32%.
- "The momentum across the company is extraordinary. Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools. In Search, our new AI features are expanding what people can search for and how they search for it. In Cloud, our AI solutions are helping drive deeper product adoption with existing customers, attract new customers and win larger deals. And YouTube's total ads and subscription revenues surpassed $50 billion over the past four quarters for the first time."
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16:07 |
GRBK Green Brick Partners and Meritage Homes (MTH) expand into Hutto with the new Prairie Winds residential community
(75.48 -1.13)
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16:07 |
EIX Edison beats by $0.13, beats on revs; guides FY24 EPS in-line
(83.14 -1.33)
|
|
- Reports Q3 (Sep) earnings of $1.51 per share, $0.13 better than the FactSet Consensus of $1.38; revenues rose 10.6% year/year to $5.2 bln vs the $5.01 bln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $4.80-5.00, narrowed from $4.75-5.05, vs. $4.94 FactSet Consensus.
- Reiterates long-term core EPS growth rate targets of 5%-7% for 2021-2025 and
5%-7% for 2025-2028.
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16:07 |
QRVO Qorvo beats by $0.03, beats on revs; guides DecQ EPS and revs below consensus; guides FY25 revs below consensus; taking actions, including factory consolidation and operating expense reductions
(100.48 +0.22)
|
|
- Reports Q2 (Sep) earnings of $1.88 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $1.85; revenues fell 5.2% year/year to $1.05 bln vs the $1.03 bln FactSet Consensus.
- Co issues downside guidance for Q3 (Dec), sees EPS of $1.10-1.30, excluding non-recurring items, vs. $1.93 FactSet Consensus; sees Q3 revs of $875-925 mln vs. $1.05 bln FactSet Consensus.
- Co issues downside guidance for FY25, sees FY25 revs being down slightly from FY24's $3.77 bln vs. $3.94 bln FactSet Consensus.
- "In the September quarter, we exceeded the midpoint of guidance in revenue, gross margin and EPS. Looking forward, the flagship and premium tiers in the smartphone market are holding up well, however, content and ramp profiles vary by model, and we are experiencing unfavorable mix. We expect this to continue in the second half of fiscal 2025. In addition, in the mid and entry tiers of Android 5G smartphones, mix has shifted toward entry-tier 5G at the expense of mid-tier 5G. In our current view, we don't expect this mix shift in Android 5G from mid-tier to entry-tier to reverse. As a result, we are taking appropriate actions, including factory consolidation and operating expense reductions as well as focusing on opportunities that align with our long-term profitability objectives. We currently expect full-year fiscal 2025 revenue and gross margin will be slightly down versus fiscal 2024."
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16:07 |
ENSG Ensign Group has agreed to add eight skilled nursing operations in the state of Tennessee and one in Alabama, subject to the completion of certain regulatory approvals and other closing conditions
(156.91 +5.04)
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- Six of these operations will be jointly owned by CareTrust REIT, Inc. (CTRE) and a large, private joint
venture investor and will transition to Ensign affiliated operating companies subject to a new, long-term
triple net master leases, and three will be purchased by Standard Bearer
Healthcare REIT, Inc., Ensign's captive real estate subsidiary. All nine
operations will be operated by Ensign affiliated operating companies. It is anticipated that the
transaction will be effective in the next few months.
- Upon closing this transaction, Ensign's growing portfolio will
consist of 332 healthcare operations, 30 of which also include senior living
operations, across 15 states. Ensign will also own 125 real estate assets, 95 of
which it operates. Mr. Port reaffirmed that
the organization is actively seeking several other transactions to acquire real estate and to lease both
well-performing and struggling skilled nursing, senior living and other
healthcare related businesses throughout the United States.
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16:05 |
LBTYA Liberty Global reports Q3 2024 results; Q3 revenue increased 4.4% YoY on a reported basis and 2.6% on a rebased basis to $1,935.2 million
(20.61 -0.29)
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DENVER, Colorado--(BUSINESS WIRE)-- Liberty Global Ltd. today announced its Q3 2024 financial results. CEO Mike Fries stated, "It was a solid quarter for our telco business operationally with sequential improvement across all markets in aggregate mobile postpaid and broadband net adds in Q3, as we begin seeing the benefits of the AI and digital tools that we're deploying to enhance the customer experience. Our fiber deployments are scaling effectively as we ramp our nexfibre and Fibre Up efforts in the U.K. along with Wyre's FTTH build across Flanders. |
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16:05 |
FSLR First Solar misses by $0.20, misses on revs; lowers FY24 guidance
(199.67 -5.36)
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- Reports Q3 (Sep) earnings of $2.91 per share, excluding non-recurring items, $0.20 worse than the FactSet Consensus of $3.11; revenues rose 10.7% year/year to $887.7 mln vs the $1073 mln FactSet Consensus. YTD net bookings of 4.0 GW; 0.4 GW since second quarter earnings call.
- Co issues lowered guidance for FY24, sees EPS of $13.00-13.50 from $13-14, excluding non-recurring items, vs. $13.49 FactSet Consensus; sees FY24 revs of $4.1-4.25 bln from $4.4-4.6 bln vs. $4.44 bln FactSet Consensus.
- "As we approach the end of 2024, we remain pleased with the progress made across our business, navigating against a backdrop of industry volatility and political uncertainty, with a continued focus on balancing growth, profitability, and liquidity," said Mark Widmar, CEO of First Solar. "We expect that our disciplined, long-term approach will allow us to work through the outcomes of the upcoming US elections as well as the continued volatility across the solar manufacturing industry."
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16:04 |
ENVX Enovix and leading smartphone OEM execute development agreement for mass production in 2025
(10.63 -0.78)
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The Co. announces that it executed a development agreement with one of the leading global smartphone OEMs with top 5 market share in China. Under the terms of the agreement and subject to applicable milestones, the companies will develop a 100% active silicon anode battery customized for specific smartphone models targeted for launch in Q4 2025. The company now has agreements with 2 of the leading smartphone OEMs and has further sales momentum building in IoT and EV markets. |
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16:03 |
EXLS ExlService beats by $0.03, beats on revs; guides FY24 EPS in-line, revs above consensus
(39.02 +0.28)
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- Reports Q3 (Sep) earnings of $0.44 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $0.41; revenues rose 14.9% year/year to $472.07 mln vs the $460.73 mln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $1.61-$1.63, excluding non-recurring items, (from prior $1.59-$1.62) vs. $1.62 FactSet Consensus; sees FY24 revs of $1.825-$1.835 bln (from prior $1.81-$1.83 bln) vs. $1.82 bln FactSet Consensus.
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16:03 |
ALHC Alignment Healthcare reports EPS in-line, beats on revs; guides Q4 revs above consensus; guides FY24 revs above consensus
(11.71 +0.17)
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- Reports Q3 (Sep) loss of ($0.14) per share, in-line with the FactSet Consensus of ($0.14); revenues rose 51.6% year/year to $692.43 mln vs the $662.11 mln FactSet Consensus.
- Increases Medicare Advantage membership, up 57.7%
year-over-year to approximately 182,300 members, beating
third-quarter and year-end expectations.
- Co issues upside guidance for Q4, sees Q4 revs of $663-678 mln vs. $660.89 mln FactSet Consensus.
- Co issues upside guidance for FY24, sees FY24 revs of $2.665-2.680 bln vs. $2.63 bln FactSet Consensus.
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16:02 |
PODD Insulet announces the full market release of the Omnipod 5 App for Apple's iPhone (AAPL) in the U.S
(233.67 +0.27)
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16:02 |
CZR Caesars Entertainment announces the closing of the previously announced sale of its intellectual property rights for the World Series of Poker brand to NSUS Group Inc.
(45.28 -0.25)
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- As previously disclosed, the transaction includes US$250 mln in
cash and a $250 mln promissory note due five years
after the transaction's closing secured by the WSOP intellectual property assets
being sold.
- Caesars retains the right from NSUS to host the flagship
WSOP live tournament series at its Las Vegas casinos for the next 20 years and
will receive a license from NSUS to continue operating its recently upgraded WSOP Online
real-money poker business in Nevada, New Jersey, Michigan, and Pennsylvania for the foreseeable future but will
otherwise be restricted from operating
online peer-to-peer real-money poker operations for a specified period of time
and subject to certain exceptions. In addition, brick-and-mortar poker rooms
currently operated by Caesars will continue
to feature WSOP branding, and Caesars
destinations will continue to enjoy preferential rights to host live WSOP
Circuit events going forward.
- Concurrent to the transaction, several long-time WSOP executives will
transition to key leadership roles within the NSUS team. Ty Stewart will serve
as Chief Executive Officer of the newly formed WSOP subsidiary, while Gregory
Chochon has accepted the position of Chief
Operating Officer. Erik Eidissen also joins as Communications Manager.
With more than 30 years of combined experience managing the WSOP brand, these
employees will lead the next phase of growth and integration under new ownership.
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15:55 |
UNF UniFirst increases quarterly cash dividend to $0.35/share from $0.33/share
(184.98 -0.94)
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15:39 |
DTRUY Daimler Truck Holding AG is assessing the future of its China operations
(21.20 +0.22)
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- As discussions are still ongoing, Daimler Truck had to book a negative valuation adjustment for receivables in the amount of EUR 180m in Q3.
- This is a one-time, extraordinary and non-cash adjusted item and hence is not impacting the operational performance of Daimler Truck (EBIT adjusted, ROS adjusted).
- All other guided Q3 KPIs (preliminary and unaudited) are not subject to an ad hoc disclosure obligation and will be published along with further Q3 2024 results on November 7th.
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15:32 |
NVS Novartis AG announces that Scemblix was granted accelerated approval by the U.S. FDA for adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase
(110.49 -5.14)
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- Scemblix, a new first-line option for adults with CML, is first to show superior efficacy and favorable safety and tolerability profile in a Phase III trial vs. all standard of care therapies.
- Patients on Scemblix also had fewer dose reductions and half the rate of adverse reactions leading to treatment discontinuation.
- Nearly 50% of CML patients do not meet efficacy milestones with current SoC and almost 25% discontinue or switch therapies within one year of treatments.
- Scemblix now approved for newly diagnosed and previously treated CML, allowing four times the patients access to potential new standard of care.
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15:29 |
DHI D.R. Horton experienced a less constructive market in 4Q24 as elevated mortgage rates and incentives led to disappointing earnings report and outlook
(165.21 -15.17)
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- D.R. Horton (DHI), the largest homebuilder in the U.S., missed EPS and revenue expectations for the first time since 4Q22 while revenue swung into negative territory at -4.7% yr/yr, marking its largest decline in over five years.
- After the Federal Reserve cut interest rates by 50 bps back on September 18, the general expectation was that the cut would help spur even more demand for an already strong new home construction market. However, based on DHI's downside Q4 results and Q1 revenue guidance, which also fell short of expectations at $6.8-$7.3 bln, it's evident that the rate cut hasn't provided a boost.
- Part of the issue is that potential homeowners are expecting mortgage rates to sink lower next year, causing them to delay on their home buying decision. It's also notable that mortgage rates have actually crept higher in recent weeks, moving back towards the 7% area.
- As a result, DHI and other homebuilders, such as Lennar (LEN) and KB Home (KBH), haven't been able to pull back on incentives, such as mortgage rate buydowns. In fact, DHI stated that about 80% of mortgage applicants took advantage of rate buydowns during the quarter. This is putting persistent pressure on DHI's margins. In Q4, homebuilding pre-tax profit margin declined to 16.0% compared to 18.6% in the year-earlier period.
- DHI is not alone regarding these margin issues. When LEN reported Q3 results on September 19, it disclosed that gross margin on home sales declined by 190 bps yr/yr to 22.5%, while KBH's housing gross profit margin slipped by 80 bps to 20.7% in Q3.
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15:07 |
BONDX Treasury Market Summary |
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Strong Auction Sustains Intraday Bounce - U.S. Treasuries finished Tuesday on a mixed note after rising off their intraday lows. The trading day started with another retreat that was extended during the initial hour of trade, but the market jumped back to its starting levels after today's second batch of data featured a Job Openings and Labor Turnover Survey for September (7.443 mln; prior revised to 7.861 from 8.040 mln), which showed a downward revision to the reading from August and another decrease in September that left the total at its lowest level since early 2021. The report was released alongside a strong Consumer Confidence report for October (108.7; Briefing.com consensus 99.0; prior 99.2) which sent Treasuries back toward lows. However, another wave of buying boosted action off lows in the afternoon, in response to a strong $44 bln 7-yr note sale that made for a welcome respite from recent all-around weakness in auction demand and intraday trade. The post-auction bounce continued into late trade, leaving the market on highs at cash close. Crude oil finished modestly lower after failing to hang onto an overnight gain while the U.S. Dollar Index touched a three-month high before returning to little changed at 104.31.
- Yield Check:
- 2-yr: -2 bps to 4.12%
- 3-yr: -1 bp to 4.08%
- 5-yr: UNCH at 4.10%
- 10-yr: UNCH at 4.27%
- 30-yr: -1 bp to 4.52%
- News:
- The Atlanta Fed's GDPNow forecast for Q4 GDP was lowered to 2.8% from 3.3% in the previous estimate.
- Japan's Prime Minister Ishiba is attempting to form a new ruling coalition but is facing resistance from the leader of the party that he is seeking an alliance with.
- The Chinese government will purchase more electric vehicles to support the industry.
- China State Council announced that more support will be provided for families with multiple children.
- The German Chamber of Commerce and Industry lowered its domestic growth forecast for 2024 to -0.2% from 0.0%.
- BP and Lufthansa reported a decrease in their respective profits for Q3.
- European Central Bank policymaker De Guindos acknowledged that inflation is headed in the right direction while growth is not.
- Japan's September jobs/applications ratio rose to 1.24 from 1.23 (expected 1.23) and September Unemployment Rate fell to 2.4% from 2.5% (expected 2.5%).
- Singapore's Q3 Unemployment Rate fell to 1.8% from 2.0%.
- Germany's November GfK Consumer Climate improved to -18.3 from -21.0 (expected -20.4).
- U.K.'s September BoE Consumer Credit reached GBP1.213 bln (expected GBP1.40 bln; last GBP1.352 bln). September net lending to individuals reached GBP3.80 bln (expected GBP4.10 bln; last GBP4.156 bln) and Mortgage Approvals hit 65,650 (expected 65,000; last 64,960).
- Today's Data:
- The Conference Board's Consumer Confidence Index jumped to 108.7 in October (Briefing.com consensus 99.0) from an upwardly revised 99.2 (from 98.7) in September. The increase in October marked the strongest monthly gain since March 2021.
- The key takeaway from the report is that the increase in confidence in October was broad-based across all age groups and most income groups, and featured a substantially more optimistic view about future business conditions than the prior month. That sets up to be a supportive component for consumer spending.
- Job openings decreased to 7.443 million in September from a downwardly revised 7.861 million (from 8.040 million) in August.
- The FHFA Housing Price Index was up 0.3% in August after increasing a revised 0.2% (from 0.1%) in July.
- S&P Case-Shiller Home Price Index rose 5.2% in August (Briefing.com consensus 5.1%) after increasing 5.9% in July.
- The advance goods trade deficit widened to $108.2 billion in September from $94.2 billion in August.
- Advance Wholesale Inventories decreased by 0.1% in September after increasing 0.1% in August.
- Advance Retail Inventories increased 0.8% in September after increasing a revised 0.7% (from 0.5%) in August.
- $44 bln 7-year Treasury note auction results (prior 12-auction average):
- High yield: 4.215% (4.252%).
- Bid-to-cover: 2.74 (2.53).
- Indirect bid: 72.0% (69.1%).
- Direct bid: 20.6% (17.2%).
- Commodities:
- WTI crude: -0.3% to $67.21/bbl
- Gold: +0.9% to $2781.30/ozt
- Copper: UNCH at $4.36/lb
- Currencies:
- EUR/USD: UNCH at 1.0814
- GBP/USD: +0.3% to 1.3005
- USD/CNH: +0.1% to 7.1454
- USD/JPY: +0.1% to 153.39
- The Day Ahead:
- 7:00 ET: Weekly MBA Mortgage Index (prior -6.7%)
- 8:15 ET: October ADP Employment Change (Briefing.com consensus 105,000; prior 143,000)
- 8:30 ET: Advance Q3 GDP (Briefing.com consensus 3.0%; prior 3.0%) and advance Q3 GDP Chain Deflator (Briefing.com consensus 2.3%; prior 2.5%)
- 10:00 ET: September Pending Home Sales (Briefing.com consensus 2.5%; prior 0.6%)
- 10:30 ET: Weekly crude oil inventories (prior +5.47 mln)
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15:05 |
SWK Stanley Black & Decker- 9.4% seeing plenty of red today after missing revenue estimates in Q3; mixed consumer trends weigh
(93.21 -9.69)
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- Management noted that while markets are relatively stable on the surface, they begin to shake when digging deeper.
- Demand continues to be pressured by mixed consumer trends, particularly related to housing. A weak automotive production backdrop is also creating problems.
- While SWK cannot control outside factors, it can control its costs, keeping this the core focus amid a dynamic economic environment.
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15:02 |
CTAS Cintas approves a quarterly cash dividend of $0.39/share
(209.36 +0.77)
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14:52 |
COMDX Energy Settlement Prices |
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- CL00-USA
Crude Oil futures settled today's session $0.18 lower (-0.3%) at $67.21/barrel
-
NG00-USA
Nat Gas futures settled today's session $0.01 higher (+0.4%) at $2.86/MMBtu
-
RB00-USA
RBOB Gasoline futures settled today's session $0.01 lower
(-0.5%)
at $1.92/gallon
-
HO00-USA
Heating oil futures settled today's session $0.01 higher
(+0.5%)
at $2.15/gallon
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14:47 |
AMD Advanced Micro Devices +3.7% showing notable strength ahead of earnings tonight
(165.88 +5.96)
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14:46 |
CBZ CBIZ +7% making a big move following earnings beat this morning
(71.61 +4.73)
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14:24 |
CVLT Commvault Systems +22% surges to a new all-time high today following beat-and-raise this morning
(167.34 +30.37)
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14:17 |
COMDX Metals Settlement Prices |
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- GC00-USA
gold settled today's session
$24.50 higher (+0.9%)
at
$2,781.30/oz
-
SI00-USA
silver settled today's session
$0.48 higher
(+1.4%)
at
$34.47/oz
-
HG00
copper settled today's session unchanged (0.0%)
at
$4.36/lb
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14:16 |
SCANX Large cap notable movers of interest -Technical- |
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The following are some of today's most notable large cap movers of interest ($10 bln - $200 bln market cap), ranked by % change (all stocks over 100K average daily volume). Large Cap Gainers - CDNS (284.07 +12.38%): The Co. beats by $0.20, beats on revs; guides FY24 EPS in-line, revs in-line.
- THC (156.74 +12.37%): The Co. beats by $0.58, beats on revs; guides Q4 EPS in-line, revs below consensus.
- INCY (73.31 +11.60%): The Co. beats by $0.09, beats on revs; provides business update. Additionally, Hearing Incyte upgraded to Buy from Neutral at BofA Securities.
Large Cap Losers
- CHKP (180.62 -13.15%): The Co. reports EPS in-line, revs in-line. Additionally, Check Point Software provides Q4 in line guidance on conference call.
- SWK (93.45 -9.20%): The Co. beats by $0.17, misses on revs; guides FY24 EPS in-line.
- DHI (165.03 -8.51%): The Co. misses by $0.25, misses on revs; guides FY25 revs below consensus; increases quarterly dividend 33% to $0.40/share. Additionally, D.R. Horton issues downside Q1 rev guidance on call.
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14:01 |
SNY Sanofi and SandboxAQ announce a collaboration to identify biomarkers during clinical development
(53.83 -0.53)
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SandboxAQ Quantitative AI models to identify new biomarkers for safety and efficacy in clinical development. |
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13:56 |
SONY Sony announces plans to close Neon Koi and Firewalk
(17.80 +0.05)
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Release |
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13:45 |
HOPE Hope Bancorp: Blue Hill Advisors to Territorial Shareholders: No Risk to Territorial if board engages with us
(12.55 +0.02)
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Encourages Territorial Shareholders to Force Another Postponement by Voting AGAINST Hope Sale Again at the Adjourned Special Meeting of Stockholders on November 6, 2024 |
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13:32 |
OPTNX Unusual Options Activity |
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The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.
Bullish Call Activity: - RUN Nov 19.5 calls (volume: 30.7K, open int: 10.2K, implied vol: ~116%, prev day implied vol: 67%). Co is confirmed to report earnings November 7 after the close.
- CLSK Weekly Nov01 13 calls (volume: 11.2k, open int: 17.3K, implied vol: ~126%, prev day implied vol: 92%). Co is expected to report earnings mid-December.
- RIOT Mar25 18 calls are seeing interest ahead of earnings tomorrow after the close (volume: 5.9K, open int: 2.1K, implied vol: ~106%, prev day implied vol: 72%).
- SOUN Weekly Nov01 6.5 calls (volume: 9.2K, open int: 6.2K, implied vol: ~88%, prev day implied vol: 72%). Co is confirmed to report earnings November 12 after the close.
Bearish Put Activity: - MPW Nov 5.5 puts (volume: 19.6K, open int: 27.8K, implied vol: ~80%, prev day implied vol: 62%). Co is expected to report earnings mid-February.
- VFC Weekly Nov01 17 puts are seeing interest with the underlying stock up 21% (volume: 13.1K, open int: 12.0K, implied vol: ~58%, prev day implied vol: 55%). 3.7K traded in a single transaction. Co is expected to report earnings late January.
Sentiment: The CBOE Put/Call ratio is currently: 1.00, VIX: (19.26, -0.54, -2.7%). November 15 is options expiration -- the last day to trade November equity options. *Please use the Talk to Us link at the top of the page to provide feedback on this comment as well as the OPTNX comments. Data provided by IVolatility.com. |
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13:27 |
F Ford Motor -8.6% heads lower as its Q3 report did not measure up to GM's beat-and-raise last week
(10.39 -0.98)
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- Ford (F) is trading sharply lower following its Q3 earnings report last night. It beat on EPS and revenue, but it was pretty modest upside. Ford lowered its FY24 guidance, which is a letdown following GM's huge beat-and-raise last week.
- Ford said that costs, especially warranty, held back its earnings power. At the same time, Ford sees its biggest opportunity with costs and warranty. The company is attacking both of these and is seeing improvement.
- Specifically, Ford lowered its FY24 adjusted EBIT outlook to approx $10 bln, down from prior guidance of $10-12 bln. However, Ford continues to expect adjusted FCF of $7.5-8.5 bln with CapEx of $8.0-8.5 bln.
- On the call, Ford cited two main reasons for the reduced EBIT outlook: higher-than-expected warranty costs and the impact of inflation at its joint venture, Ford Otosan in Turkey. Also, the new guidance includes lower-than-planned volume in 2H24 for Ford Pro and Ford Blue due to supplier disruptions. Nevertheless, Ford sees supply and demand for vehicles in balance.
- Shares of Ford are sharply lower as the quarter did not stack up to GM's Q3 report last week. Both companies beat expectations, but GM blew the doors off while Ford's upside was modest. Also, Ford lowering EBIT guidance was a letdown when compared to GM raising guidance.
- Despite the higher costs, Ford did maintain its lofty quarterly dividend at $0.15/sh, which computes as a 5.8% yield.
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13:10 |
WRAPX Midday Stock Market Summary |
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Today's trade features a negative bias. Decliners lead advancers by a nearly 3-to-1 margin at the NYSE and by a 3-to-2 margin at the Nasdaq. The S&P 500 and Nasdaq Composite trade higher despite the negative skew thanks to support from mega cap names. Alphabet (GOOG 170.90, +2.55, +1.5%) is a top performer ahead of its earnings report this afternoon. Mega cap stocks were trading down initially alongside the broader equity market, which is pressured by rising market rates. The 10-yr yield is up five basis points to 4.33%. The price action in Alphabet and Meta Platforms (META 588.05, +9.89, +1.7%) has boosted the communication services sector to the top of the leaderboard, up 1.3% from yesterday. The information technology sector has also benefitted from strength in its mega cap components, trading 1.2% higher. Market participants are also digesting a mixed slate of earnings news. D.R. Horton (DHI 165.29, -15.08, -8.4%), Ford (F 10.36, -1.00, -8.8%), and Pfizer (PFE 28.48, -0.37, -1.3%) are some of the names trading lower after reporting results. Dow component McDonald's (MCD 297.13, +0.34, +0.1%), V.F. Corp (VFC 20.77, +3.74, +21.9%), and Royal Caribbean (RCL 209.78, +6.26, +3.1%) are some of the earnings-related winners today. Reviewing today's economic data: - August FHFA Housing Price Index 0.3%; Prior was revised to 0.2% from 0.1%
- August S&P Case-Shiller Home Price Index 5.2% (Briefing.com consensus 5.1%); Prior 5.9%
- October Consumer Confidence 108.7 (Briefing.com consensus 99.0); Prior was revised to 99.2 from 98.7
- The key takeaway from the report is that the increase in confidence in October was broad-based across all age groups and most income groups, and featured a substantially more optimistic view about future business conditions than the prior month. That sets up to be a supportive component for consumer spending.
- September JOLTS - Job Openings 7.443 mln; Prior was revised to 7.861 mln from 8.040 mln
- September Adv. Intl. Trade in Goods -$108.2 bln; Prior was revised to -$94.2 bln from -$94.3 bln
- September Adv. Retail Inventories 0.8%; Prior was revised to 0.7% from 0.5%
- September Adv. Wholesale Inventories -0.1%; Prior 0.2%
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13:09 |
BONDX Strong demand for 7-yr notes |
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Auction Reaction - U.S. Treasuries have risen off their lows, thanks to the just-completed $44 bln 7-yr note sale, which met strong demand, giving the market some relief after it faced prolonged pressure. The auction drew a high yield of 4.215%, which stopped through the when-issued yield by two basis points while the bid-to-cover ratio (2.74x vs 2.53x average) and indirect takedown (72.0% vs 69.1% average) were comfortably above average. The post-auction rally has lifted the 2-yr note into positive territory while longer tenors are rising above today's opening levels.
- $44 bln 7-year Treasury note auction results:
- High yield: 4.215% (When-Issued: 4.235%)
- Bid-to-cover: 2.74
- Indirect bid: 72.0%
- Direct bid: 20.6%
- Average results of previous 12 auctions:
- High yield: 4.252%
- Bid-to-cover: 2.53
- Indirect bid: 69.1%
- Direct bid: 17.2%
- Yield Check:
- 2-yr: -1 bp to 4.13%
- 3-yr: UNCH at 4.09%
- 5-yr: +2 bps to 4.13%
- 10-yr: +2 bps to 4.30%
- 30-yr: +2 bps to 4.55%
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13:02 |
GLW Corning jumps to multi-decade highs after issuing upside Q4 EPS and revenue guidance; Glass and optical component maker generated 36% growth in Optical Communications segment, driven by strong adoption for new connectivity products for GenAI
(50.54 +3.70)
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13:01 |
SPTN SpartanNash enters into an asset purchase agreement with Markham Enterprises, Markham Oil and its affiliates, a three-store chain of convenience stores and fuel distributor in mid-Michigan
(21.09 -0.19)
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12:59 |
XLE Sector Briefing: Energy
(87.95 -1.25)
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The S&P 500 (+0.2%) continues hanging onto a slim gain with three sectors trading higher while eight sport losses, including energy (-1.4%). Key factors driving today's performance include: - Poor response to quarterly results from Phillips 66 (PSX 124.07, -4.82, -3.7%) and U.K.-based BP (BP 29.54, -1.51, -4.9%).
- Pressure from a lower price of oil as WTI crude falls $0.20, or 0.3%, to $67.18/bbl after giving back an overnight gain, making another retreat toward its low from early September (65.27).
- Underperformance among refiners.
Notable movers: - Phillips 66 (PSX 124.07, -4.82, -3.7%): weakest performer in the sector, falling toward its September low (123.77) despite beating Q3 EPS expectations.
- Valero (VLO 127.45, -4.81, -3.6%): falling to its lowest level since late January.
- Marathon Petroleum (MPC 146.09, -4.98, -3.3%): falling to its lowest level since late December.
- SLB (SLB 40.47, -0.92, -2.2%): on track for its lowest close since mid-September.
- Williams Companies (WMB 51.68, -0.61, -1.2%): deepening last week's reversal from its best level since 2015.
- APA (APA 23.24, -0.46, -1.9%): falling toward its September low (22.72).
- Chevron (CVX 148.64, -1.90, -1.3%): on track for its lowest close in two weeks.
- Hess (HES 134.99, -2.07, -1.5%): falling back below its 50-day moving average (135.38).
- Exxon Mobil (XOM 117.50, -1.41, -1.2%): falling toward its 50-day moving average (117.54).
- ConocoPhillips (COP 102.40, -0.86, -0.8%): trading near the midpoint of yesterday's range.
- Coterra Energy (CTRA 23.74, -0.02, -0.1%): best performer in the sector, climbed above its 50-day moving average (23.81) before reversing.
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12:47 |
TVGN Tevogen Bio took significant steps toward expanding R&D and manufacturing capabilities
(2.47 -0.27)
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- The proposed facility is intended to
support both pre-clinical research and GMP manufacturing capabilities, staffed
by Tevogen.
- CD8 Technology Services, LLC ("CD8
Technology") to provide turn-key facility for Tevogen Bio.
- Reinforces Tevogen Bio's commitment to
preserving shareholder value.
- Expected to further enhance Tevogen Bio's
ambitious growth
agenda.
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12:33 |
NWN Northwest Natural provides Public Utility Commission of Oregon update; revises guidance to reflect disallowance
(39.70 -0.71)
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- On October 25, 2024, the OPUC issued an order approving the Stipulations and resolving the remaining open items in the Rate Case. Along with resolving several non-revenue items, the OPUC affirmed its decision in NW Natural's prior general rate case docket to phase out NW Natural's line extension allowance (LEA) by November 1, 2027. Additionally, the OPUC ordered a downward adjustment to rate base of $13.7 mln of undepreciated line extension costs, which co expects to result in a non-cash, pre-tax charge of approximately $13.7 mln, or approximately $10.1 mln after-tax (or approximately 26 cents per share1), in the fourth quarter of 2024. The final order and adjustments for completed capital projects resulted in a revenue requirement increase of $93.3 mln over existing rates. Average rate base after final adjustments for completed capital projects was $2.09 bln or an increase of $334 mln since the last rate case. NW Natural expects new rates to take effect November 1, 2024.
- On August 2, 2024, NW Holdings reaffirmed 2024 annual earnings guidance in the range of $2.20 to $2.40 per share on a generally accepted accounting principles (GAAP) basis. When set, that guidance range did not assume the above-described disallowance. Therefore, NW Holdings is revising its 2024 annual guidance range to $1.94 to $2.14 per share on a GAAP basis, or $2.20 to $2.40 per share on a non-GAAP adjusted basis (vs $2.31 consensus), with the only adjustment to the GAAP guidance numbers being the exclusion of the $13.7 mln non-cash, pre-tax charge (approximately $10.1 mln or 26 cents per share after-tax).
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12:32 |
NFLX Netflix and Comcast's (CMCSA) Universal Filmed Entertainment Group expand U.S. licensing deal for feature films
(758.05 +8.93)
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- Netflix and Universal Filmed Entertainment Group (UFEG) today announced that the two companies have reached an agreement to renew the existing licensing deal for animated films including those from Illumination and DreamWorks Animation (DWA) and, beginning with the 2027 slate, will add U.S. rights to live-action films from both Universal Pictures and Focus Features.
- Release
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12:31 |
SUMRX Earnings Out This Afternoon/Tomorrow Morning |
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- This Afternoon: TXG ATGE AMD ALHC ALSN GOOG AMH APAM ATRC BMRN BXP CZR CAKE CHE CMG CB DVA EIX EA ENVX EQT ESS EXEL EXLS EXE EXR FCF FSLR FE FMC HURN IEX NGVT KAI LSTR LFUS MTH MIR MOD MDLZ NRDS OI OKE PK PRO PFS QRVO RDDT RSG SAGE SKWD SNAP STAG SYK UDMY UMBF UIS UNM VRNS V WPC WERN ZWS
- Tomorrow Morning: ABBV AER ALE ARCC ARVN ADP AVNS AVT AXTA BLCO BHC BIIB BLKB BPMC EAT BG CAT CDW CHEF CLH CWEN CMCO CRTO DAN DAY LLY EXC EXTR FVRR FLEX FTV GRMN GTES GEHC THRM ROCK GSK GPN GPI HR HES HESM HUM ITW IMAX INMD ITCI JKS KEX KHC DRS LIVN MLM MTRN MNRO NAVI NBIX NI NVCR OIS OMCL OMF OSW OPCH OSK OTIS PSN PUMP REYN SHAK SLGN SITE SMP SCL TECH TEX COCO TW TT TTMI UTHR VRSK VMC WING XPO ZBH
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12:24 |
SCANX Mid cap notable movers of interest -Technical- |
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The following are some of today's most notable mid cap movers of interest ($2 bln - $10 bln market cap), ranked by % change (all stocks over 100K average daily volume). Mid Cap Gainers
- WGS (82.96 +47.98%): The Co. misses by $0.10, beats on revs; guides FY24 revs above consensus.
- VFC (20.90 +22.72%): The Co. beats by $0.22, beats on revs; guides Q3 revs below consensus.
- CVLT (163.73 +19.54%): The Co. beats by $0.07, beats on revs; guides DecQ revs above consensus; guides FY25 revs above consensus.
Mid Cap Losers - TMDX (86 -31.88%): The Co. misses by $0.17, misses on revs; reaffirms FY24 revs guidance.
- CROX (112.72 -18.35%): Slipping sharply lower after guiding Q4 EPS below expectations and forecasting a 4-6% drop in HEYDUDE revenue as the brand's turnaround takes longer to materialize than company anticipated.
- BOOT (132.62 -17.74%): The Co. misses by $0.01, reports revs in-line, same store sales increased 4.9%; guides Q3 EPS below consensus, revs in-line. Additionally, the Company announces that Jim Conroy plans to step down as CEO and President, John Hazen promoted to interim CEO; both are effective November 22.
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12:18 |
LLY Eli Lilly confirms "positive" results from the TRAILBLAZER-ALZ 6 Phase 3b study, showing a reduction in amyloid-related imaging abnormalities with edema/effusion (ARIA-E) at the 24-week primary endpoint for people receiving a slightly modified titration of donanemab in adults with early symptomatic Alzheimer's disease
(902.72 +7.13)
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- A change in the initiation of donanemab dosing, shifting one vial of donanemab from the first infusion to the third infusion, lowered ARIA-E to 14% compared to 24% in patients receiving the standard dosing regimen used in the pivotal Phase 3 clinical trial.
- Reduction of amyloid plaque and P-tau217 on this modified titration was comparable to patients receiving the standard dosing regimen.
- Lilly intends to submit this data to global regulators for a potential label update for Kisunla (donanemab-azbt).
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12:15 |
SCANX Today's most active stocks -Technical- |
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The following are today's most active stocks ranked by volume and relative volume, categorized by sectors.
Today's top 20 volume
- Healthcare:
GLYC (621.61 mln +184.19%),
PFE (51.41 mln -2.23%),
SGMO (12.93 mln +7.18%)
- Industrials:
BA (39.57 mln +2.75%),
JBLU (22.26 mln -16.19%)
- Consumer Discretionary:
F (85.77 mln -8.74%),
TSLA (43.81 mln -1.41%),
NIO (43.47 mln -1.38%),
VFC (16.33 mln +23.55%),
ETH (13.71 mln +5.72%)
- Information Technology:
NVDA (71.56 mln +0.84%),
INTC (30.94 mln -0.92%),
PYPL (22.34 mln -3.24%),
AMD (20.36 mln +2.55%)
- Financials:
SQQQ (75.97 mln -1.76%),
AGNC (20.35 mln -2.13%),
TQQQ (19.65 mln +1.72%),
TLT (19.62 mln -0.65%)
- Consumer Staples:
KDP (31.7 mln -2.32%)
Today's top relative volume (current volume to 1-month average daily volume)
- Healthcare:
GLYC (736.31x +184.19%)
- Materials:
ATI (2.33x -9.91%)
- Industrials:
BA (4.07x +2.75%),
SWK (3.5x -8.49%),
IEP (2.53x -14.73%)
- Consumer Discretionary:
CROX (5.11x -17.83%),
BOOT (3.79x -18.43%),
DHI (2.94x -9.75%),
CECO (2.8x -13.61%),
VFC (2.24x +23.55%)
- Information Technology:
HLIT (4.56x -24.9%),
XRX (3.8x -20.57%),
DQ (3.43x -23.4%),
FFIV (2.75x +10.69%),
CHKP (2.36x -13.89%),
ZBRA (2.24x +5.04%)
- Financials:
EUFN (5.04x -0.31%),
TWO (2.42x -5.27%)
- Energy:
CVI (4.12x -25.15%)
- Consumer Staples:
KDP (3.59x -2.32%)
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12:15 |
SCANX Today's biggest % gainers/losers -Technical- |
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The following are today's top 20 percentage gainers and top 20 percentage losers, categorized by sectors.-
Today's top 20 % gainers
- Healthcare:
THC (156.37 +12.1%),
INCY (72 +9.61%),
PRQR (3.6 +8.61%),
ALLO (2.88 +7.46%)
- Industrials:
CBZ (72.57 +8.53%),
UPWK (13.55 +7.8%)
- Consumer Discretionary:
VFC (21.04 +23.55%),
SSTK (33.38 +13.02%),
GPRO (1.49 +8.76%)
- Information Technology:
CVLT (160.61 +17.26%),
CDNS (284.41 +12.52%),
IPGP (87.97 +10.98%),
FFIV (241.7 +10.69%),
RMBS (49.32 +10.09%),
LDOS (185.51 +9.3%),
GLW (50.36 +7.51%)
- Financials:
RILY (6.78 +20.34%)
Today's top 20 % losers
- Healthcare:
KNSA (24.1 -12.65%),
ALLK (1.19 -7.71%)
- Materials:
ATI (56.96 -9.91%)
- Industrials:
JBLU (6.14 -16.19%),
IEP (13.21 -14.73%),
PLOW (22.94 -11.97%),
SWK (94.19 -8.49%)
- Consumer Discretionary:
BOOT (131.51 -18.43%),
CROX (113.44 -17.83%),
CECO (22.73 -13.61%),
IBP (207.14 -11.75%),
DHI (162.8 -9.75%),
F (10.38 -8.74%)
- Information Technology:
HLIT (11.13 -24.9%),
DQ (22.32 -23.4%),
XRX (8.17 -20.57%),
CHKP (179.08 -13.89%),
JKS (24.34 -12.15%),
CSIQ (14.09 -9.16%)
- Energy:
CVI (17.83 -25.15%)
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12:14 |
SCANX Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (33) outpacing new lows (17) -Technical- |
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Stocks that traded to 52 week highs:
CAKE, CINF, CLH, CNK, COMM, CTRE, CTVA, EHC, EWBC, FWONA, GLW, HLNE, INCY, ITI, JPM, LDOS, LOVE, MCS, MD, MNKD, MSCI, MSTR, NCMI, NDAQ, RCL, SGMO, SPOT, TTEK, VFC, WELL, WFC, YNDX, ZM
Stocks that traded to 52 week lows:
AAP, ACRE, CHRS, CVI, ETSY, HPP, MUR, NEP, NMFC, NTLA, PARR, PBF, RC, SMHI, SVC, TUP, XRX
Thinly-Traded Stocks (ADV below 100k) that traded to 52 week highs on High Volume:
IRMD, LGND, MSGS, PGC, SMBK, TMP, UI
Thinly-Traded Stocks (ADV below 100k) that traded to 52 week lows on High Volume:
FET, SBNY
ETFs that traded to 52 week highs:
FDN, GLD, IAU, IGV, SIL
ETFs that traded to 52 week lows:
FXC |
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12:08 |
ORCL Oracle unveils next-generation EHR
(173.23 +0.81)
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NASHVILLE, Tenn., Oct. 29, 2024 /PRNewswire/ -- Oracle Health
Summit -- Today, Oracle is previewing its next-generation electronic health
record (EHR) to thousands of customers and partners attending the Oracle Health Summit. Built from the ground up to
take advantage of the high performance and military-grade security1
of Oracle Cloud Infrastructure (OCI), the EHR is designed to embed AI across the
entire clinical workflow to automate processes, deliver insights at the point of
care, and dramatically simplify appointment prep, documentation, and follow up
for physicians and staff. With native integrations across a broad range of Oracle Health applications, the EHR is also
designed to help streamline information exchange between payers and providers,
support patient recruitment for clinical trials, simplify regulatory compliance,
optimize financial performance, and help accelerate the adoption of value-based
care. |
|
12:06 |
RIO Rio Tinto has completed the transition from conventional to renewable diesel for all heavy mining equipment at its Kennecott copper mine in Utah, giving the mine one of the lowest carbon footprints of any copper producer in the United States
(66.87 +0.69)
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Kennecott's fleet of 97 haul trucks and heavy machinery equipment at the mine, concentrator, smelter, refinery and tailings are now all fueled by renewable diesel1 sourced in the United States. This is expected to reduce the mine's Scope 1 emissions by 450,000 tonnes, equal to eliminating the annual emissions of 107,000 cars. In addition, the switch to renewable diesel reduces PM2.5 (particulate matter less than 2.5 microns) emissions at the tailpipes of our haul truck fleet by 40%, a reduction equivalent to approximately 2.3 billion miles of light vehicle travel annually. |
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12:01 |
CTSH Cognizant Tech announces a new agreement with Alnylam Pharmaceuticals to scale IT operations
(75.75 +0.77)
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Utilizing Cognizant's top-tier managed services frameworks and tools, the partnership aims to enhance Alnylam's automation and reduce operational efforts. |
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11:57 |
NARI Inari: PEERLESS Results show superiority of FlowTriever compared to catheter-directed thrombolytics for intermediate-risk pulmonary embolism
(49.33 +6.64)
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IRVINE, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Inari Medical, Inc. (NASDAQ: NARI) ("Inari"), a medical device company with a mission to treat and transform the lives of patients suffering from venous and other diseases, today announced positive results from the prospective PEERLESS Randomized Controlled Trial (RCT) comparing FlowTriever to catheter-directed thrombolytics (CDT). The results were presented by Dr. Wissam Jaber, Professor of Medicine at Emory University School of Medicine and Co-Global Principal Investigator (PI), during the Late-Breaking Clinical Trial Session at the 2024 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Symposium in Washington, D.C. In recognition of the clinical relevance of the study, results were also simultaneously published in Circulation, the premier peer-reviewed journal of the American Heart Association (AHA). |
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11:42 |
SCANX Small cap notable movers of interest -Technical- |
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The following are some of today's most notable small cap movers of interest ($300 mln - $2 bln market cap), ranked by % change (all stocks over 100K average daily volume).
Small Cap Gainers
- LAC (4.77 +15.22%): The Co. closes $2.26 billion U.S. DOE ATVM loan.
- SSTK (33.67 +14.02%): The Co. beats by $0.36, beats on revs; guides FY24 EPS above consensus, revs above consensus; names new CFO.
- OPRA (19.06 +12.98%): The Co. beats by $0.05, beats on revs; guides Q4 revs above consensus.
Small Cap Losers
- JBI (7.50 -27.26%): The Co. misses by $0.10, misses on revs; lowers FY24 revs below consensus.
- CVI (17.77 -25.40%): The Co. misses by $0.41, misses on revs; suspends dividend.
- HLIT (11.18 -24.56%): The Co. beats by $0.05, beats on revs; guides Q4 EPS in-line; guides FY24 EPS above consensus.
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11:41 |
TALKX Market Briefing: Mixed action as interest rates remain elevated |
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The stock market opened today's session with a negative bent. Rising Treasury yields received much of the blame for the opening weakness along with some softness in the mega-cap stocks. The latter quickly righted themselves, and as they did, the major indices took a turn higher. The Vanguard Mega-Cap Growth ETF (MGK), down 0.2% shortly after the open, is up 0.5% It also helped that the steady increase in Treasury yields seen overnight abated some following a September JOLTS Report that showed fewer job openings than August. The market read that as a sign that the labor market might have softened some and that wage inflation could be tempered as a result. The latter point notwithstanding, Treasury yields are again pressing their highs for the session with chatter of budget deficit concerns continuing to swirl and a report showing the strongest monthly increase in consumer confidence in October since March 2021. The 2-yr note yield is up two basis points to 4.16% and the 10-yr note yield is up five basis points to 4.33% in front of the $44 billion 7-yr note auction at 1:00 p.m. ET. The bump in rates has kept buying efforts across the market in check. Decliners lead advancers by a better than 2-to-1 margin at the NYSE and by a nearly 3-to-2 margin at the Nasdaq. D.R. Horton (DHI 163.10, -17.28, -9.6%), Ford (F 10.39, -0.98, -8.7%), PayPal (PYPL 79.84, -3.75, -4.5%), Crocs (CROX 113.79, -24.26, -17.5%), Pfizer (PFE 28.27, -0.59, -2.0%), and Stanley Black & Decker (SWK 94.36, -8.56, -8.3%), which reported earnings, are among the declining stocks. Dow component McDonald's (MCD 297.27, +0.48, +0.2%), V.F. Corp (VFC 21.44, +4.41, +25.9%), Cadence Design Systems (CDNS 281.07, +28.30, +11.2%), and Royal Caribbean (RCL 211.89, +8.37, +4.1%) are on the other side of the ledger, trading higher after their earnings reports. The reports from Alphabet (GOOG 170.36, +2.07, +1.2%), Adv. Micro Devices (AMD 163.26, +3.34, +2.1%), and Chipotle Mexican Grill (CMG 60.47, -0.13, -0.2%) after today's close are a focal point in their own right. Currently, the communication services sector (+1.2%) is the best-performing sector followed by information technology (+0.6%). The weakest performers are the utilities sector (-1.8%) and the energy sector (-1.1%). The Nasdaq Composite is up 0.4%; the S&P 500 is up 0.1%; the Dow Jones Industrial Average is down 0.1%; and the Russell 2000 is down 0.6%. |
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11:39 |
MPLX MPLX LP increases quarterly cash dividend 12.5% to $0.9565/unit from $0.85/unit
(43.85 +0.08)
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11:31 |
CSCO Cisco unveils plug-and-play AI solutions, accelerating AI adoption for the enterprise
(55.76 +0.48)
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- Cisco introduces plug-and-play use case and industry-specific AI PODs, making it easier for partners to sell and customers to deploy AI infrastructure.
- Company also expands UCS portfolio with new AI server family for NVIDIA (NVDA) accelerated computing.
- With an upgraded portfolio, powered by new 800G switches, Cisco highlights strategy to accelerate enterprise AI adoption by offering open, scalable and simplified path to AI infrastructure.
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11:29 |
BONDX New Supply |
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Treasury Auction Preview - $44 bln 7-year Treasury note auction (results at 13:00 ET)
- Prior auction results:
- High yield: 3.668%
- Bid-to-cover: 2.36
- Indirect bid: 70.8%
- Direct bid: 20.3%
- Average results of previous 12 auctions:
- High yield: 4.252%
- Bid-to-cover: 2.53
- Indirect bid: 69.1%
- Direct bid: 17.2%
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11:17 |
XLK Sector Briefing: Technology
(231.90 +1.68)
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The S&P 500 (+0.1%) is trying to stay in positive territory with gains in four sectors, including top-weighted technology (+0.6%), countering losses in seven groups. Key factors driving today's performance include: - Strong showing from software stocks after the release of upbeat quarterly results from Cadence Design (CDNS 280.14, +27.37, +10.8%). The iShares Expanded Tech-Software Sector ETF (IGV 93.43, +1.09, +1.2%) is seeking a fresh record close.
- Positive earnings leadership form F5 Networks (FFIV 240.62, +22.26, +10.2%), Corning (GLW 49.97, +3.13, +6.7%), and Zebra Tech (ZBRA 378.88, +15.30, +4.2%).
- Underperformance in top components Apple (AAPL 233.14, -0.26, -0.1%) and NVIDIA (NVDA 140.56, +0.04, +0.03%) preventing the sector from showing a bigger gain.
Notable movers: - Cadence Design (CDNS 280.14, +27.37, +10.8%): best performer in the sector, rallying past its 50-day moving average (267.11) to a two-week high. Company beat Q3 expectations and issued in-line guidance.
- F5 Networks (FFIV 240.62, +22.26, +10.2%): hit a fresh record high before narrowing its gain. Company beat Q4 expectations, issued in-line EPS guidance for FY25 combined with above-consensus revenue guidance, and announced a buyback.
- Corning (GLW 49.97, +3.13, +6.7%): rising to its best level since February 2001. Company beat Q3 expectations and issued above-consensus guidance for Q4.
- Synopsys (SNPS 524.44, +28.26, +5.7%): rising past it 50-day moving average (507.31) to a two-week high.
- Zebra Tech (ZBRA 378.88, +15.30, +4.2%): hit its best level since May 2022 before narrowing its gain. Company beat Q3 expectations and issued above-consensus guidance for Q4.
- AMD (AMD 163.01, +3.09, +1.9%): returning to its 200-day moving average (163.12) ahead of tonight's release of quarterly results.
- Salesforce (CRM 297.27, +3.50, +1.2%): rising to its best level since April.
- Broadcom (AVGO 174.16, +2.14, +1.2%): staying above its 50-day moving average (168.49).
- Applied Materials (AMAT 187.13, +1.79, +1.0%): reclaiming yesterday's loss.
- Texas Instruments (TXN 207.63, +1.80, +0.9%): seeking its best close in two weeks.
- Cisco (CSCO 55.75, +0.47, +0.9%): rising off a two-week low.
- Microsoft (MSFT 428.59, +2.00, +0.5%): reclaiming yesterday's loss.
- NVIDIA (NVDA 140.56, +0.04, +0.03%): reclaiming the bulk of yesterday's loss.
- Apple (AAPL 233.14, -0.26, -0.1%): holding within five points of its record high. iPhone exports from India grew 33%, according to Bloomberg.
- Fortinet (FTNT 79.84, -0.92, -1.1%): hit a three-week low before narrowing its loss.
- Enphase Energy (ENPH 82.79, -1.89, -2.2%): weakest performer in the sector, giving back yesterday's gain.
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11:15 |
LLY Eli Lilly Canada received a positive Canada's Drug Agency recommendation for the Verzenio expanded indication in early breast cancer
(902.45 +6.86)
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"We are thrilled to have CDA-AMC recommended reimbursement of Verzenio for the expanded EBC full ITT indication, and to subsequently conclude negotiations with pCPA successfully. This marks a crucial step forward in making Verzenio accessible to more Canadians with breast cancer." |
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11:11 |
BLNK Blink Charging: Envoy Technologies teams up with UNLMTD Real Estate Group, to introduce electric car sharing at FIAT House, a brand-new collection of more than 300 studios, one- and two-bedroom luxury residences
(2.11 -0.14)
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11:11 |
SUMRX Economic Summary |
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Economic Data Summary: - August FHFA Housing Price Index 0.3%; Prior was revised to 0.2% from 0.1%
- August S&P Case-Shiller Home Price Index 5.2% (Briefing.com consensus 5.1%); Prior 5.9%
- October Consumer Confidence 108.7 (Briefing.com consensus 99.0); Prior was revised to 99.2 from 98.7
- The key takeaway from the report is that the increase in confidence in October was broad-based across all age groups and most income groups, and featured a substantially more optimistic view about future business conditions than the prior month. That sets up to be a supportive component for consumer spending.
- September JOLTS - Job Openings 7.443 mln; Prior was revised to 7.861 mln from 8.040 mln
- September Adv. Intl. Trade in Goods -$108.2 bln; Prior was revised to -$94.2 bln from -$94.3 bln
- September Adv. Retail Inventories 0.8%; Prior was revised to 0.7% from 0.5%
- September Adv. Wholesale Inventories -0.1%; Prior 0.2%
Fed/Treasury Events Summary: - Yesterday afternoon Treasury announced marketable borrowing estimates
- The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing[1] for the October -- December 2024 and January -- March 2025 quarters.
- During the October -- December 2024 quarter, Treasury expects to borrow $546 billion in privately-held net marketable debt, assuming an end-of-December cash balance of $700 billion. [2],[3] The borrowing estimate is $19 billion lower than announced in July 2024, largely due to a higher beginning-of-quarter cash balance partially offset by lower net cash flows.
- During the January -- March 2025 quarter, Treasury expects to borrow $823 billion in privately-held net marketable debt, assuming an end-of-March cash balance of $850 billion.[4]
- During the July -- September 2024 quarter, Treasury borrowed $762 billion in privately-held net marketable debt and ended the quarter with a cash balance of $886 billion. In July 2024, Treasury estimated borrowing of $740 billion and assumed an end-of-September cash balance of $850 billion. Privately-held net marketable borrowing was $22 billion higher largely because of a $36 billion higher ending cash balance partially offset by higher net cash flows.
- Additional financing details relating to Treasury's Quarterly Refunding will be released at 8:30 a.m. on Wednesday, October 30, 2024.
Upcoming Economic Data:
- Weekly MBA Mortgage Applications Index due out Wednesday at 7:00 ET (Prior -6.7%)
- October ADP Employment Change due out Wednesday at 8:15 ET (Briefing.com consensus 105K; Prior 143K)
- Q3 GDP-Adv. due out Wednesday at 8:30 ET (Briefing.com consensus 3.0%; Prior 3.0%)
- Q3 Chain Deflator-Adv. due out Wednesday at 8:30 ET (Briefing.com consensus 2.3%; Prior 2.5%)
- September Pending Home Sales due out Wednesday at 10:00 ET (Briefing.com consensus 2.5%; Prior 0.6%)
Upcoming Fed/Treasury Events:
- Treasury refunding announcement October 30 at 8:30 ET
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11:04 |
BBW Build-A-Bear Workshop appoints Kim Utlaut as Senior Vice President and Chief Brand Officer; she recently served as General Manager for Franchise Leadership at The Coca-Cola Company (KO)
(38.27 -0.52)
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11:03 |
AJG Arthur J. Gallagher announces the acquisition of Snoqualmie, Washington-based Adept Benefits, LLC
(286.19 +0.20)
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- Terms of the transaction were not disclosed.
- Adept Benefits is a health and benefits consulting firm serving clients in
the greater Seattle area. Megan Narrance and her team
will remain in their current location under the direction of Charlie Isaacs,
head of Gallagher's West region employee benefits consulting operations.
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11:01 |
AAPL Apple's all-new Mac mini is more mighty, more mini, and built for Apple Intelligence
(233.50 +0.10)
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CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple today unveiled the
all-new Mac mini powered by the M4 and new M4 Pro chips, and redesigned around
Apple silicon to pack an incredible amount of performance into an even smaller
form of just 5 by 5 inches. With M4, Mac mini delivers up to 1.8x faster CPU
performance and 2.2x faster GPU performance over the M1 model.1 With
M4 Pro, it takes the advanced technologies in M4 and scales them up to tackle
even more demanding workloads. For more convenient connectivity, it features
front and back ports, and for the first
time includes Thunderbolt 5 for faster data transfer speeds on the M4 Pro model.
The new Mac mini is also built for Apple Intelligence, the personal
intelligence system that transforms how users work, communicate, and express
themselves while protecting their privacy. And marking an important
environmental milestone, Mac mini is
Apple's first carbon neutral Mac with an
over 80 percent reduction in greenhouse gas emissions across its materials,
manufacturing, transportation, and customer use.2 Starting at just $599 with 16GB of memory, the new Mac mini is
available to pre-order today, with
availability beginning November 8. |
|
10:53 |
CROX Crocs slipping sharply lower after guiding Q4 EPS below expectations and forecasting a 4-6% drop in HEYDUDE revenue as the brand's turnaround takes longer to materialize than company anticipated
(114.01 -24.04)
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- The Crocs brand performed relatively well in Q3 with sales growing by 7.4% to $858 mln. However, HEYDUDE sales plunged by 17.4% to $204 mln, creating a major top-line headwind as sales edged higher by just 1.6%.
- Crocs (CROX) weak outlook also stands in contrast to the recent strong earnings reports from competitors Deckers Outdoor (DECK) and Skechers USA (SKX), both of which issued quarterly results on October 24.
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10:53 |
ZBRA Zebra Tech +4.3% trades to new 52-week high following large earnings beat this morning
(379.27 +15.69)
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- ZBRA's Q4 outlook was bullish as well. The guidance assumes continued recovery across its major product categories with higher year-end spending by customers, including several large North American retail projects.
- A positive is that ZBRA continues to cycle easier comparisons across the business, due in part to significant destocking activity by distributors during 2H23.
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10:41 |
INSID Insider Trading: notable purchases -- Executive Chairman continues to add to BYON; notable sales -- Director active in STLD |
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Buyers:- BYON Executive Chairman of board bought another 71,428 shares pursuant stock purchase agreement worth approximately $500K.
- LionsGate 10% owner Liberty 77 Capital bought 467,213 Class B Non-Voting Common Shares (LGF.B) at $6.585 - $6.75 worth approximately $3143K.
- RRC Director
bought 1,275 shares at $31.46 worth approximately $40K.
- WGO President/CEO and one (1) Director
bought 4,500 shares at $54.81 - $55.52 worth approximately $248K.
Sellers: - FLEX Group President sold 8,028 shares at $35.16 - $35.65 worth approximately $284K.
- STLD Director
sold 2,000 shares at Vice President worth approximately $270K.
For regular updates on our insider summaries and commentary, please add Briefing ticker INSID to ticker alerts. Transactions exclude pre-arranged trading plans. Sales exclude option-related sell-offs. |
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10:26 |
CWH Camping World +5.7% tops Q3 earnings and sales estimates, fuels its decent gap higher today; preparing for accelerated growth
(22.60 +1.22)
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- As a new and used RV dealer, CWH is highly tied to the health of the RV industry, which has struggled lately amid inflation and interest rate pressures.
- However, CWH has continued to take market share during the turbulent economy. Management added today that it believes the company is on the precipice of one of the most opportunistic M&A environments ever, supporting further potential market share capture.
- Furthermore, CWH gained confidence in the stabilization of the used marketplace. CWH is optimistic this development will pave the way for a strong recovery.
- At the same time, CWH believes the new market will perform for the broader industry better in 2025 than it did in 2024.
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10:08 |
OPTNX Early Options Activity |
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Taking an early look at the options market, we found the following names that may be worth watching throughout the day for further indication of investor expectations given their options volume and implied volatility movement.
Stocks seeing volatility buying (bullish call buying/bearish put buying):
Calls: - CLSK Weekly Nov01 13 calls are seeing interest with 3.3K contracts trading vs. open int of 17.3K, pushing implied vol up around 28 points to ~120%. Co is expected to report earnings mid-December.
Puts: - VFC Weekly Nov01 17 puts are seeing interest with the underlying stock up 27% with 12/5K contracts trading vs. open int of 12.0K, pushing implied vol up around 5 points to ~61%. Co is expected to report earnings late January.
Stocks seeing volatility selling: - BP implied vol is lower following earnings/guidance
Sentiment: The CBOE Put/Call ratio is currently: 1.00, VIX: (20.21, +0.41, +2.1%). November 15 is options expiration -- the last day to trade November equity options. *Please use the Talk to Us link at the top of the page to provide feedback on this comment as well as the OPTNX comments. Data provided by IVolatility.com. |
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10:08 |
ALE Allete Clean Energy subsidiary announces sale of the Whitetail wind project in southwestern Wisconsin to Invenergy
(64.23 -0.06)
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10:06 |
PSFE Paysafe has partnered with Deutsche Bank AG (DB) to provide private customers with easy access to cash services
(21.75 -0.20)
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10:06 |
WRAPX Opening Stock Market Summary |
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The stock market opened to somewhat mixed action at the index level, but market internals reflect a negative bias. Decliners lead advancers by a 3-to-1 margin at the NYSE and by a 2-to-1 margin at the Nasdaq. Gains in the mega cap space have boosted the Nasdaq Composite, which trades 0.1% higher than yesterday. The Vanguard Mega Cap Growth ETF (MGK) also shows a 0.1% gain. Small cap stocks underperform compared to large caps stocks, leading the Russell 2000 to trade 0.8% lower. Separately, JOLTS - Job Openings totaled 7.443 million in September, down from a revised count of 7.861 million in August (from 8.040 million). The Consumer Confidence Index rose to 108.7 in October (Briefing.com consensus 99.0) from 99.2 in September (revised from 98.7). |
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10:05 |
MRK Merck: Biond Biologics announces clinical trial collaboration and supply agreement with Merck KGaA, Darmstadt, Germany to Evaluate BND-35 in Combination with Cetuximab in a Phase 1 clinical study in patients with solid tumors
(104.94 +0.72)
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10:03 |
CME CME Group receives approval from the National Futures Association to establish futures commission merchant
(228.00 -0.12)
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10:01 |
HPE Hewlett Packard Enterprise announces that TEPCO SYSTEMS selected HPE GreenLake cloud to advance its data-driven approach to help advance decarbonization of the energy supply
(19.82 +0.09)
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The company of IT and engineering professionals for Japan's leading power
utility group Tokyo Electric Power Company
Holdings, is teaming with HPE to harness the power of data and AI to
create continuous innovation and new business services that can help progression
toward net-zero goals. |
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10:01 |
ECONX October Consumer Confidence 108.7 vs. 99.0 Briefing.com consensus; prior revised to 99.2 from 98.7 |
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10:00 |
ECONX September JOLTS - Job Openings 7.443 mln --- prior revised to 7.861 mln from 8.040 mln |
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09:47 |
MCD McDonald's trading roughly flat following modest upside results
(297.22 +0.35)
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09:46 |
EXPI eXp World Holdings: eXp Realty has launched two groundbreaking initiatives at eXpcon Miami: the ICON Incentive Program and the Revenue Share Capping Incentive Program, effective November 1
(12.69 -0.29)
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Both programs are designed to elevate agent success, by unlocking expanded revenue opportunities and further driving their business success. |
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09:26 |
WIRES On The Wires |
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- TD SYNNEX (SNX) has
earned the prestigious Amazon Relational Database Service Services
Delivery Specialization, making it the first global solutions aggregator to achieve this
designation. This designation recognizes TD SYNNEX's ability to manage complex
tasks associated with Amazon RDS, enabling TD SYNNEX to better support partners
through implementation, migration and integration.
- Adtran (ADTN) and Candela Technologies launched a joint solution that addresses a significant gap in existing Wi-Fi testing
capabilities. Building on a longstanding partnership, the collaboration integrates Adtran's SDG 8700 Series
Wi-Fi 7 technology with Candela's automated testing platform. This unique combination enables the testing of complex 4x4
antenna configurations, ensuring devices meet stringent performance and
reliability standards. Initial test results using SDG 8733 Wi-Fi 7 technology
have already demonstrated throughput exceeding 8.3Gbit/s, showcasing Wi-Fi 7's
potential to transform the industry. In addition, the solution's efficient
modular approach disrupts traditional high-cost Wi-Fi testing, enabling
affordable, comprehensive testing across various Wi-Fi 7 systems.
- Raytheon, an RTX (RTX) business, in
partnership with the Office of the Secretary of Defense, the U.S. Air Force Research Laboratory Strategic Development Planning and
Experimentation office, and the U.S. Navy, demonstrated the multi-mission GhostEye MR
advanced medium-range sensor during a joint test event called Gray Flag 2024.
GhostEye MR tracked targets over water, showcasing the sensor's readiness to
deter current and future threats.
- PacBio (PACB) announces SPRQ, an improved sequencing chemistry for its Revio long-read sequencing system. The new
chemistry will reduce Revio DNA input requirements by 4x to 500ng per sample,
which enables more sample types such as saliva extracted with PacBio's new
Nanobind protocol and tumor samples to be sequenced with HiFi sequencing technology. It will also increase the Revio system's output, which
together with improved analysis methods, enables customers to reduce their
sequencing cost per genome by up to 50 percent. Paired instrument software
enhancements will also improve the accuracy of methylation calling and add
detection of new types of methylation marks providing customers with a rich,
multiomic view of every sample.
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09:24 |
WIRES On The Wires |
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- RTX's (RTX) Pratt & Whitney and Next Level Aviation extend an agreement in which Next Level Aviation will continue to support Pratt & Whitney CSA through consignment of used serviceable engine accessories for an additional three years.
- Raytheon, an RTX (RTX) business, in partnership with the Office of the Secretary of Defense, the U.S. Air Force Research Laboratory Strategic Development Planning and Experimentation office, and the U.S. Navy, demonstrated the multi-mission GhostEye MR advanced medium-range sensor during a joint test event called Gray Flag 2024.
- IBM (IBM) announces that it is bringing the Apptio portfolio of enterprise agile planning, IT financial management, and cloud FinOps solutions to Microsoft Azure (MSFT). In addition, IBM announced their global expansion of IBM Software availability on the Azure Marketplace making it easier for customers to buy software directly on the marketplace while using their Microsoft Azure Consumption Commitment
- SEI (SEIC) launches SEIGPT, a new generative artificial intelligence framework that enables the rapid experimentation and implementation of generative AI applications.
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09:21 |
JAMF Jamf Holding invests in LifeSaver Mobile, a leader in Distracted Driving Solutions, through its Jamf Ventures Investment Fund
(16.39 )
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09:19 |
FBLG FibroBiologics announces updates for novel artificial thymus organoid technology
(2.82 )
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HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- FibroBiologics, Inc., (Nasdaq: FBLG) ("FibroBiologics"), a clinical-stage biotechnology company with 160+ patents issued and pending with a focus on the development of therapeutics and potential cures for chronic diseases using fibroblasts and fibroblast-derived materials, announced promising new findings from its artificial thymus organoid program. Recent results from the artificial thymus organoid program showed that fibroblasts and thymus-derived cell organoids can persist and function for over 50 days post-transplantation, with vascularization and the generation of a diverse array of mature T cells in animal models. |
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09:19 |
VINP Vinci Partners completes its previously announced combination with Compass
(10.30 )
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The Transaction creates a full-service Latin American alternative asset manager, that as of June 2024, had more than US$52 billion in assets under management across Private Markets, Investment Products and Solutions, Public Equities and Corporate Advisory segments. |
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09:16 |
WRAPX S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -5.00. |
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The S&P 500 futures are down ten points and are trading 0.1% below fair value, the Nasdaq 100 futures are down five points and are trading 0.1% below fair value, and the Dow Jones Industrial Average futures are down 150 points and are trading 0.4% below fair value. Earlier, the FHFA Housing Price Index showed a 0.3% increase in August after a 0.2% increase in July (revised from 0.1%). The S&P Case-Shiller Home Price Index rose 5.2% in August (Briefing.com consensus 5.1%) following a prior reading of 5.9%. The 10-yr yield is up five basis points to 4.33% and the 2-yr yield is up three basis points to 4.17%. |
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09:14 |
WIRES On The Wires |
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- Lucid Group (LCID) announced customer orders for the Lucid Gravity will open on November 7, 2024, at 9:00 am Pacific Time. Orders will initially be taken for the Grand Touring trim, priced from $94,900 and offering more than 800 horsepower and a projected range surpassing 440 miles.1 The Lucid Gravity Grand Touring is scheduled to begin production in late 2024 and the Lucid Gravity Touring is planned for late 2025, with pricing starting at $79,900.
- Cognizant (CTSH) announces that it has signed a strategic collaboration agreement with Amazon Web Services (AMZN), with plans to deliver advanced technology solutions and cloud computing services, focused on enhancing smart manufacturing capabilities for global enterprises across industries.
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09:13 |
WIRES On The Wires |
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- NeoVolta (NEOV) in partnership with Barrio Elctrico, a Puerto Rico-based nonprofit
organization, proudly executed the first
installation of the NeoVolta NV24 battery
storage systems in Puerto
Rico.
- Accenture (ACN) Federal Services has been awarded a Task Order of up to $1.6 bln to efficiently scale and
enhance the U.S. Air
Force's multi-cloud Cloud One environment.
- Arteris (AIP) announces TIER IV has licensed FlexNoC 5 interconnect IP and Magillem Connectivity SoC
integration automation software for its next generation of intelligent vehicle
electronics. These products support the development of high-performance,
reliable automotive SoC products that are essential to realizing fully autonomous driving in the future.
- Tetra Tech (TTEK) announces that the U.S. Agency for
International Development has selected the Company for a $5 bln,
multiple-award indefinite delivery, indefinite quantity contract to support global democracy initiatives.
- The Hartford (HIG) and Coalition have announce a strategic, long-term capacity partnership in response to growing customer and broker demand
for Coalition's unique Active Cyber Insurance approach in the U.K. market.
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09:08 |
NKTR Nektar announces publication in nature communications of results from phase 1b Studies of Rezpegaldesleukin in two inflammatory skin diseases
(1.36 )
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- Data from multiple Phase 1b studies in inflammatory skin conditions demonstrate durable dose-dependent improvements in physician-assessed disease activity and patient-reported outcomes - |
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09:07 |
FDP Fresh Del Monte announces the sale of its Fresh Leaf Farms brand and operations to First Leaf Farms-a new partnership between the Costa and Nunes families, both prominent leaders in the Salinas Valley produce industry
(29.26 )
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- This transaction aligns with a shared commitment to drive innovation, enhance customer offerings, and strengthen leadership in the fresh produce sector.
- For Mann Packing, the sale of Fresh Leaf
Farms represents a key step in Fresh Del Monte's strategic direction for its vegetable division.
After conducting a comprehensive review and defining a clear path forward, the
company is implementing a three-pronged strategy focused on increasing
operational efficiency, elevating its product offerings, and divesting non-core
assets, which includes the sale of Fresh
Leaf Farms. Mann Packing will continue prioritizing its core vegetable line
along with signature innovations, such as Broccolini, Stringless
Sugar Snap Peas and Better Leaf lettuce clam line while exploring
new, innovative product offerings. By concentrating on these growth drivers and streamlining supply chains,
Fresh Del Monte and Mann Packing aim to boost long-term profitability, strengthen business and customer
relationships, and deliver innovative solutions to meet consumer needs.
- The acquisition of Fresh Leaf Farms by First Leaf Farms further enhances the Costa
and Nunes families' leadership in the leafy greens sector, leveraging their
combined expertise and long-standing history. As part of the acquisition, a seamless customer transition was a
top priority, with both companies identifying strategic synergies. Notably, First Leaf Farms will utilize Mann Packing's
robust logistics network through the Yuma season to ensure uninterrupted service
and operational efficiency, and the Costa family's operations will continue to
grow leafy greens for Mann Packing. Looking ahead, the companies intend to
maintain a collaborative partnership, exploring further opportunities for growth.
- The Costa family will manage production and
operations for First Leaf Farms, while The
Nunes Company, Inc. will oversee all sales
and marketing.
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09:07 |
SNAP Snap partners with Zefr to launch brand safety and suitability measurement solution
(10.71 )
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09:06 |
GDRX GoodRx announces that QSYMIA is available for a low cash price in more than 70,000 retail pharmacy locations nationwide exclusively via GoodRx
(6.35 )
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- This initiative not only propels GoodRx's momentum in weight loss solutions, but also broadens its portfolio in offeringsignificant savings on brand-name medications, making obesity treatment more accessible and affordable for millions.
- Now, anyone with a valid prescription, regardless of insurance status, can
use GoodRx to purchase a 30-day supply of
QSYMIA at the exclusive cash price of $149.
QSYMIA is designed to help patients manage hunger and reduce cravings throughout
the day and, combined with a healthy diet and exercise, has been proven to help
patients lose and maintain weight. Many individuals prefer oral medications over
injectables, and the simplicity of taking a daily pill can make it easier to
adhere to treatment regimens.
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09:05 |
SGD Safe and Green Development provides construction update on Sugar Phase I project in South Texas
(3.68 )
|
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- Co announces the start of construction on its Sugar Phase I project in South Texas.
- Following the recent completion of all required site work and receipt of necessary elevation certificates and permits, SG Devco has officially broken ground on this first phase, which will consist of 5 single-family homes. This marks an important step forward for SG Devco's plan to bring high-quality housing to South Texas communities.
- "Starting construction on Sugar Phase I is a pivotal moment for SG Devco," said David Villarreal, CEO of SG Devco. "We're excited to begin building homes that will meet the growing demand in South Texas and serve as a foundation for further developments in the area."
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09:04 |
UBER Uber Eats now accepting SNAP EBT Nationwide With Albertsons Companies (ACI), Walgreens (WBA)
(77.69 )
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09:04 |
AMZN Amazon: Blue Duck Capital sends open letter to Amazon Board of Directors
(188.39 )
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In the letter, Blue Duck outlines a number of initiatives it believes management can undertake to remedy the underperformance, including:
- Initiate a formal and significant capital return program to match the Company's market cap, free cash flow and capital reserves.
- Improve on inefficient business execution across AWS and retail businesses.
- Provide more transparency around substantial projected A.I. Investment.
- Leverage Whole Foods' leading market position to better capitalize on growing national health food movement.
- Refocus Amazon Studios, Wondery and all related media verticals to realign capital spend with viewership to avoid further talent and content missteps.
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09:04 |
HTLD Heartland Express misses by $0.11, misses on revs
(11.38 )
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- Reports Q3 (Sep) loss of ($0.12) per share, $0.11 worse than the FactSet Consensus of ($0.01); revenues fell 11.9% year/year to $259.86 mln vs the $268.35 mln FactSet Consensus.
- Operating Ratio of 102.7% and 102.6%
Non-GAAP Adjusted Operating Ratio.
- Co added, "We believe that we will need a meaningful turnaround in the freight environment, and the associated increase in demand for our on-time freight service, in order to improve the utilization of our assets and lower our consolidated operating ratio back to our long-term expectations."
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09:02 |
GDS GDS Holdings announces $1 billion equity raise by its international affiliate led by prestigious new US Investors
(21.85 )
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- Co enters into definitive agreements for certain institutional private equity investors to subscribe for US$1.0 billion of Series B convertible preferred shares newly issued by GDSI.
- The US$1 billion Series B investment is mostly comprised of new US investors, led by Coatue Management with substantial participation by The Baupost Group. Together with GDSI's existing equity, the Series B raise will be sufficient to capitalize the development of up to 1 GW of total data center capacity.
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09:02 |
CWAN Clearwater Analytics announces a new integration with Snowflake (SNOW) to radically simplify how institutional asset managers and asset owners of all sizes utilize their data
(26.45 )
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- This collaboration will integrate
Clearwater data, including Prism, its investment data management solution, with
Snowflake's AI Data Cloud, streamlining the process of gaining insights and
making decisions more swiftly and effectively.
- This integration will deliver:
- Data Collaboration: Enable
clients to directly build applications on rich Clearwater datasets using data
share via the Snowflake Marketplace.
- Seamless Integration: Incorporate Clearwater's accurate, timely and
comprehensive data to power the entire end-to-end investment management process.
- Improved Efficiency: Direct access to data without making a data
copy.
- Advanced AI Tools: Use of the Clearwater Platform and Snowflake Cortex AI for natural language queries.
- Streamlined Reporting: Timely regulatory, client, and investment
reporting based on consistent and governed data sets.
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09:02 |
ECONX August S&P Case-Shiller Home Price Index 5.2% vs. 5.1% Briefing.com consensus; prior 5.9% |
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09:01 |
ECONX August FHFA Housing Price Index 0.3% --- prior revised to 0.2% from 0.1% |
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08:57 |
SLB SLB OneSubsea awarded subsea boosting contract for bp's Kaskida project in Gulf of Mexico
(41.39 )
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- The OneSubsea subsea boosting system is a key technology within bp's first Paleogene field development.
- It will supply the required artificial lift needed to maximize production through the accelerated recovery of reserves with minimal energy consumption.
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08:52 |
CHKP Check Point Software provides Q4 in line guidance on conference call
(207.96 )
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- Co issues in-line guidance for Q4 (Dec), sees EPS of $2.60-2.70 vs. $2.65 FactSet Consensus; sees Q4 (Dec) revs of $675-715 mln vs. $701.63 mln FactSet Consensus.
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08:48 |
WIRES On The Wires |
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- Blyncsy, a Bentley Systems Inc. (BSY) company, announces it published a comprehensive public map of all interstate highways in the continental United States showing key roadway assets such as guardrails, speed limit signs, and work zones to support roadway safety and maintenance conditions. This data is now available to all state U.S. Department of Transportation agencies, enabling them to better address safety, maintenance, and repair operations of deteriorating and at-risk roads more efficiently and cost-effectively, especially during times of natural disasters.
- CrowdStrike (CRWD) has received new ISO/IEC 27001:2022
certification for products made generally available in the past year -- CrowdStrike Falcon Next-Gen SIEM, CrowdStrike Charlotte AI and CrowdStrike Falcon for IT, extending the list of
certified modules and services on the CrowdStrike Falcon cybersecurity platform. This
certification demonstrates CrowdStrike's ongoing dedication to protecting the
security and privacy of customer and organizational data by meeting the most
rigorous international standards.
- Biogen Inc.
(BIIB) has appointed Daniel Quirk as
Chief Medical Officer and Head of Medical Affairs, effective October 28, 2024.
Dr. Quirk will report to Priya Singhal,
M.D., M.P.H., Head of Development at Biogen.
- Evolus (EOLS) announces it recently surpassed one million enrolled consumers and completed the
two-millionth Jeuveau redemption in its Evolus Rewards patient loyalty program.
- Viant Technology Inc. (DSP)
announces an expanded integration with Comscore (SCOR), which will enable the use of its
trusted audience data to train ViantAI, the world's first fully autonomous media buying platform. This
integration will allow ViantAI to leverage Comscore's site ranking and audience reach data,
alongside Viant's foundation of data, in the creation of media plans, offering advertisers and agencies the assurance
of insights from a respected measurement and analytics partner. By utilizing
data-driven insights, ViantAI enables users to create and optimize media plans
with greater precision and effectiveness in a matter of seconds.
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08:43 |
WIRES On The Wires |
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- JLL (JLL) announced the launch of its artificial intelligence platform, JLL Falcon, designed to accelerate the digital transformation of the commercial real estate industry. The new platform is a cutting-edge set of AI-enabled software services that combines JLL's vast and comprehensive proprietary data with generative AI models to deliver timely, revenue-generating and cost-saving insights, as well as maximize returns. This revolutionary platform for the CRE industry will chart the future course for JLL's AI journey.
- ClearSign Technologies Corporation (CLIR) announces that it has received an engineering order for a flare from an energy company for use in California.
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08:40 |
WIRES On The Wires |
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- Macerich (MAC) has refinanced fortress property Queens Center at highly favorable terms with a new $525 million loan bearing fixed interest of 5.37% and interest-only payments during the entire term.
- Nano Dimension (NNDM) will present at ThinkEquity Conference October 30, 2024 to discuss Nano Dimension's strategy, recent M&A transactions, and industry outlook.
- Rayonier Advanced Materials (RYAM) has raised $700 million in aggregate principal amount of secured term loan financing from funds managed by Oaktree Capital Management, L.P., as lead lender, as well as certain affiliates and managed funds of Silver Point Capital, L.P. and Blue Torch Capital LLC. Proceeds from the Term Loan, along with cash from the Company's balance sheet are expected to be used to purchase, defease and redeem RYAM's existing 2026 senior secured notes, to repay RYAM's existing 2027 secured term loan financing in full and to pay related fees and expenses.
- SolarBank Corporation (SUUN) plans to develop a 7.2 MW DC ground-mount solar power project known as the North Main project. With a secured site lease and interconnection study underway, the Project is another key part of SolarBank's expanding development pipeline-which exceeds one gigawatt-as well as the Company's commitment to advancing community solar.
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08:40 |
NEE NextEra Energy: FPL outlines plan to pay for significant restoration efforts after four hurricanes slam Florida in 14 months
(82.87 )
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JUNO BEACH, Fla.
, Oct. 29, 2024 /PRNewswire/ -- Florida Power & Light Company today asked the Florida Public Service Commission (PSC) to approve a temporary surcharge on customer bills in 2025 to recover restoration costs after four hurricanes battered Florida in less than 14 months. |
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08:39 |
ALLO Allogene receives FDA Regenerative Medicine Advanced Therapy (RMAT) designation for ALLO-316, an AlloCAR T investigational product for adult patients with advanced or metastatic renal cell carcinoma
(2.68 )
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- RMAT designation follows positive proof-of-concept data from the ALLO-316 TRAVERSE trial in adult patients with advanced or metastatic CD70 positive renal cell carcinoma (RCC) who received prior immune checkpoint inhibitor and VEGF-targeting therapy
- ALLO-316 Advances Scientific Understanding and Applicability of the Dagger Technology as the next-generation Allogeneic platform to maximize the potential of a single infusion of an "off-the-shelf" CAR T product
- Company to present updated Phase 1 Data from the TRAVERSE Trial at the Society for Immunotherapy of Cancer (SITC) Annual Meeting; ALLO-316 was previously granted Fast Track Designation (FTD) in March 2022 by the U.S. Food and Drug Administration
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08:37 |
MXL MaxLinear launches broad portfolio of half-duplex RS-485 transceivers designed for demanding applications
(15.64 )
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MaxLinear, Inc. (Nasdaq: MXL), a technology leader transforming global connectivity, announced today the launch of two new RS-485 serial transceiver families (MxL8312x and MxL8321x) specifically designed to ensure reliable, high-performance communication in harsh industrial environments. The new transceiver families include nine product SKUs with three speed options (250kbps, 500kbps, 50Mbps) and three package variants including a small 3mm x 3mm package. |
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08:36 |
DVAX Dynavax adopts limited-duration stockholder rights plan
(11.39 )
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EMERYVILLE, Calif.
, Oct. 29, 2024 /PRNewswire/ -- Dynavax Technologies Corporation (Nasdaq: DVAX), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today announced that its Board of Directors has adopted a limited-duration stockholder rights plan, effective immediately (the "Rights Plan"). |
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08:35 |
MNK Mallinckrodt plc (MCKPF) presents data on TERLIVAZ for injection in patients with hepatorenal syndrome-acute kidney injury (HRS-AKI) at the American College of Gastroenterology Annual Meeting |
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In this analysis:
- The majority of HRS-AKI patients (74.4%) had underlying alcoholic liver disease (ALD)
- 97.6% of patients had emergent/urgent admissions, with 84.8% treated at teaching hospitals, and 64.8% at large hospitals with 500+ beds
- The in-hospital mortality rate among patients with HRS-AKI was 17.6%
- TERLIVAZ was used as the first-line treatment in one-fifth of cases (20.8%)
- Among patients with available SCr (baseline and post treatment) data (n=21), HRS reversal, defined as the return of pre-treatment serum creatinine (SCr) to =1.5 mg/dL, was 47.6% (n=10)
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08:35 |
LNG Cheniere Energy declared a quarterly cash dividend of $0.50 per share, up from prior $0.435 per share
(183.58 )
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08:35 |
LUMN Lumen Technologies: Former Microsoft (MSFT) CMO, Chris Capossela, joins Lumen's Board of Directors; effective immediately
(6.41 )
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08:32 |
S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -6.00. |
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08:32 |
CRML Critical Metals Corp. provides a project update for the Tanbreez Greenland Rare Earth Mine
(6.23 )
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- Discovers two new high-grade areas of rare earth materials, increasing upside potential for foundational project.
- Secures reliable and cost-effective power supply to enable efficient project roadmap.
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08:22 |
WIRES On The Wires |
|
- Salesforce (CRM) announces the general availability of Agentforce, a new layer on the Salesforce Platform that enables companies to build and deploy AI agents that can autonomously take action across any business function.
- Pure Storage (PSTG) announces the modernization of the IT infrastructure of AC Milan, one of the world's leading and most historic football clubs.
- Criteo (CRTO) announces collaborations with leading Order Management System companies, ADvendio, Boostr, Placements.io, and Vantage, as well as Salesforce Media Cloud, on new integrations that aim to provide Criteo retailer clients with increased flexibility when building, managing, and scaling their retail media networks.
- Captivision (CAPT) announces its first collaboration with the Dream Hollywood hotel in Los Angeles.
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08:16 |
ABBV AbbVie VRAYLAR now publicly reimbursed in Ontario
(198.68 )
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Co announces that Ontario has listed VRAYLAR (cariprazine) on its provincial formulary as a General Benefit. The listing will
be effective on October 31, 2024. |
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08:16 |
NXRT NexPoint Residential increases quarterly cash dividend 10.3% to $0.51/share from $0.4624/share
(43.00 )
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08:15 |
GSK GlaxoSmithKline enters agreement to acquire CMG1A46 from Chimagen Biosciences to expand immunology pipeline
(37.88 )
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- Co announced an agreement for GSK to acquire CMG1A46, a clinical-stage dual CD19
and CD20-targeted T cell-engager, from Chimagen for $300 million upfront.
GSK plans to develop and commercialize CMG1A46 with a focus on B cell-driven
autoimmune diseases, such as systemic lupus erythematosus and lupus
nephritis with potential to expand into related autoimmune diseases.
- For
over a decade, GSK has been a pioneer in the treatment of lupus. This agreement
underscores the importance of novel therapeutic approaches to address the
heterogeneity of lupus manifestations and the continued burden, particularly in
patients who suffer from severe disease and are refractory to current standard
of care.
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08:15 |
WIRES On The Wires |
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- Sagimet Biosciences Inc. (SGMT) announces the successful completion of
end-of-Phase 2 interactions with the U.S. Food and Drug
Administration, supporting the
advancement of denifanstat into Phase 3 in metabolic-dysfunction associated
steatohepatitis. The planned program will include two Phase 3 trials:
FASCINATE-3, evaluating patients with F2/F3 MASH, and FASCINIT,
evaluating patients with suspected or confirmed diagnosis of metabolic
dysfunction-associated steatotic liver disease/MASH. The Phase 3 program
is expected to initiate by the end of 2024.
- ReposiTrak (TRAK)
welcomes 50 new dairy suppliers to the ReposiTrak Traceability Network.
These new members will efficiently exchange intricate, FDA-required Key Data Elements for each
Critical Tracking Event in their supply chains, ensuring proactive
compliance well before the January 2026 deadline.
- Veritone (VERI) will manage and monetize the expansive content library of Court TV. This marks a significant step in modernizing and streamlining
the content management and distribution processes for the network, one of the
most recognized brands in television.
- Climb Channel Solutions, an international specialty technology distributor and
wholly owned subsidiary of Climb Global Solutions (CLMB), announces a North American partnership
with Fortra.
- Masimo (MASI) announces that Vanderbilt University Medical Center, a
renowned healthcare facility in Nashville, Tennessee, is piloting the use of
the Masimo Radius VSM patient-worn vital signs monitor with Masimo Patient
SafetyNet supplemental remote monitoring in the Emergency Department and
nontraditional care spaces. Launched as part of a successful pilot program aimed
at tackling the ongoing crisis of emergency room congestion, Radius VSM has been
used on hallway beds, in the emergency medical service offload area, and on
patients in the waiting room who are typically only monitored periodically --
thus providing continuous, wireless monitoring for those who may otherwise be
left vulnerable to unexpected deterioration.
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08:13 |
WGS GeneDx misses by $0.10, beats on revs; guides FY24 revs above consensus
(56.06 )
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- Reports Q3 (Sep) loss of $0.31 per share, excluding non-recurring items, $0.10 worse than the FactSet Consensus of ($0.21); revenues rose 44.3% year/year to $76.9 mln vs the $64.98 mln FactSet Consensus.
- Co issues raised guidance for FY24, sees FY24 revs of $284-290 mln from $255-265 mln vs. $263.37 mln FactSet Consensus. Guidance: Drive full year 2024 revenues between $284 and $290 million (previous guidance was between $255 and $265 million); Expand full year 2024 adjusted gross margin2 profile to at least 62% (previous guidance was at least 60%); Use between $60 to $65 million of net cash for full year 2024 (previous guidance was between $65 to $70 million).
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08:13 |
PHG Philips to further roll out RATE: AI for Early Infection Detection at U.S. Department of defense through four-year, $25 million contract
(26.62 )
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Over the next four years, the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense, will invest $25 million to make the technology more accessible in the field. |
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08:12 |
ULCC Frontier Group Holdings misses by $0.03, reports revs in-line
(7.27 )
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- Reports Q3 (Sep) loss of $(0.05) per share, excluding non-recurring items, $0.03 worse than the FactSet Consensus of ($0.02); revenues rose 5.9% year/year to $935 mln vs the $943.3 mln FactSet Consensus.
- Revenue per available seat mile (RASM) was 9.28 cents, up 2% yr/yr.
- Q4 Outlook: Co expects positive stage-adjusted year-over-year RASM in Q4 - notwithstanding hurricane-related impacts - supported by continued moderation in capacity growth and further progress on recently deployed network and revenue initiatives. Co estimates an impact to its projected Q4 non-GAAP pre-tax margin of approximately 2% related to Hurricane Milton flight cancellations and demand softness for travel to hurricane-affected areas.
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08:10 |
IMNM Immunome presents compelling preclinical data demonstrating robust anti-tumor activity for IM-1021
(12.43 )
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Immunome, Inc. (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies, recently presented promising preclinical data for IM-1021 and the associated proprietary ADC payload HC74. The results were presented in a poster entitled "Preclinical evaluation of IM-1021, a ROR1-targeted antibody-drug conjugate with a novel topoisomerase I linker payload" at the 36th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Barcelona on October 24, 2024. |
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08:09 |
IPGP IPG Photonics has signed a definitive agreement to acquire Clean-Lasersysteme GmbH, a leader in laser cleaning systems
(79.27 )
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- The transaction strengthens IPG's global position in high-precision laser
systems for cleaning applications, an attractive growth market. Subject to satisfaction of
customary closing conditions, including regulatory approval, the transaction is expected to close in
the fourth quarter of 2024.
- The Company will provide more
details on the transaction on its upcoming third-quarter earnings call, scheduled today for 10:00 a.m. ET.
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08:09 |
FELE Franklin Electric misses by $0.10, misses on revs; guides FY24 EPS below consensus, revs below consensus
(102.55 )
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- Reports Q3 (Sep) earnings of $1.17 per share, excluding non-recurring items, $0.10 worse than the FactSet Consensus of $1.27; revenues fell 1.4% year/year to $531.4 mln vs the $551.08 mln FactSet Consensus.
- Co issues lowered guidance for FY24, sees EPS of $3.75-3.85 from $4.16-4.34, excluding non-recurring items, vs. $4.17 FactSet Consensus; sees FY24 revs of $2.0 bln from $2.10-2.17 bln vs. $2.06 bln FactSet Consensus.
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08:08 |
PBI Pitney Bowes appoints Lance Rosenzweig as permanent CEO, effective immediately
(7.21 )
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In addition, Co announces the election of Milena Alberti-Perez as non-executive Chair. |
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08:06 |
GRFS Grifols, S.A. receives FDA approval to treat surgical bleeding in pediatric patients with its fibrin sealant solution
(8.34 )
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- Younger patients in the U.S. can now benefit from Grifols Fibrin Sealant and its positive effect on surgical outcomes, including a fast time to hemostasis.
- Grifols surgical bleeding management treatments form part of an increasingly robust portfolio of innovative therapeutics enhancing the health and well-being of patients.
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08:04 |
WRAPX S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -5.00. |
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The S&P 500 futures are down five points and are trading 0.1% below fair value, the Nasdaq 100 futures are down five points and are trading 0.1% below fair value, and the Dow Jones Industrial Average futures are down 130 points and are trading 0.4% below fair value. Contracts linked to the S&P 500, Nasdaq 100, and Dow industrials are lower as investors digest a heavy slate of earnings. Ford Motor (F) and McDonald's (MCD) garnered negative responses to their quarterly results, contributing to the early bias. Pre-open losses in the mega cap space have also contributed to the early downside bias. Rising market rates are another factor. The 10-yr yield is up two basis points to 4.30% and the 2-yr yield is up one basis point to 4.15%. Today's economic lineup features: - 9:00 ET: August FHFA Housing Price Index (prior 0.1%) and August S&P Case-Shiller Home Price Index (Briefing.com consensus 5.1%; prior 5.9%)
- 10:00 ET: October Consumer Confidence (Briefing.com consensus 99.0; prior 98.7) and September job openings (prior 8.040 mln)
In corporate news: - Ford Motor (F 10.74, -0.63, -5.5%): beats by $0.03, beats on revs; projects FY24 adjusted EBIT of about $10 bln; China and its exports are now contributing over $600 million to EBIT this year
- McDonald's (MCD 287.35, -9.44, -3.2%): beats by $0.02, reports revs in-line
- Pfizer (PFE 29.30, +0.44, +1.5%): beats by $0.45, beats on revs; raises FY24 EPS and revenue guidance
- Cadence Design (CDNS 266.00, +13.23, +5.2%): beats by $0.20, beats on revs; guides FY24 EPS in-line, revs in-line
- Boeing (BA 148.32, -2.37, -1.6%): prices upsized offerings of common stock and depositary shares
- V.F. Corp (VFC 20.27, +3.24, +19.0%): beats by $0.22, beats on revs; guides Q3 revs below consensus
Reviewing overnight developments: - Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note. Japan's Nikkei: +0.8%, Hong Kong's Hang Seng: +0.5%, China's Shanghai Composite: -1.1%, India's Sensex: +0.5%, South Korea's Kospi: +0.2%, Australia's ASX All Ordinaries: +0.3%.
- In economic data:
- Japan's September jobs/applications ratio 1.24 (expected 1.23; last 1.23) and September Unemployment Rate 2.4% (expected 2.5%; last 2.5%)
- Singapore's Q3 Unemployment Rate 1.8% (last 2.0%)
- In news:
- Japan's Prime Minister Ishiba is attempting to form a new ruling coalition, but is facing resistance from the leader of DPP, which is the party Mr. Ishiba is seeking an alliance with.
- The Chinese government will purchase more electric vehicles to support the industry.
- China State Council announced that more support will be provided for families with multiple children.
- Major European indices trade on a mostly higher note. STOXX Europe 600: +0.1%, Germany's DAX: +0.3%, U.K.'s FTSE 100: +0.1%, France's CAC 40: +0.4%, Italy's FTSE MIB: +0.4%, Spain's IBEX 35: -0.2%.
- In economic data:
- Germany's November GfK Consumer Climate -18.3 (expected -20.4; last -21.0)
- U.K.'s September BoE Consumer Credit GBP1.213 bln (expected GBP1.40 bln; last GBP1.352 bln). September net lending to individuals GBP3.80 bln (expected GBP4.10 bln; last GBP4.156 bln) and Mortgage Approvals 65,650 (expected 65,000; last 64,960)
- In news:
- The German Chamber of Commerce and Industry lowered its domestic growth forecast for 2024 to -0.2% from 0.0%.
- BP and Lufthansa reported a decrease in their respective profits for Q3.
- European Central Bank policymaker De Guindos acknowledged that inflation is headed in the right direction while growth is not.
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08:04 |
SYY Sysco misses by $0.04, reports revs in-line; reaffirms FY25 EPS guidance, revs guidance
(75.10 )
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- Reports Q1 (Sep) earnings of $1.09 per share, excluding non-recurring items, $0.04 worse than the FactSet Consensus of $1.13; revenues rose 4.4% year/year to $20.48 bln vs the $20.47 bln FactSet Consensus.
- Co reaffirms guidance for FY25, sees EPS of +6-7%, implying $4.57-4.61, excluding non-recurring items, vs. $4.59 FactSet Consensus; sees FY25 revs of +4-5%, implying $82.00-82.79 bln vs. $82.15 bln FactSet Consensus.
- Co added, "Additionally, we remain on track to return approximately $2 billion back to shareholders for the fiscal year."
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08:03 |
ECL Ecolab beats by $0.75, reports revs in-line; guides Q4 EPS in-line
(256.45 )
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- Reports Q3 (Sep) earnings of $2.57 per share, excluding non-recurring items, $0.75 better than the FactSet Consensus of $1.82; revenues rose 1.0% year/year to $4 bln vs the $4.03 bln FactSet Consensus.
- Co issues in-line guidance for Q4, sees EPS of $1.75-1.85, excluding non-recurring items, vs. $1.81 FactSet Consensus.
- Third quarter 2024 reported operating income increased 85% including the impact of special gains and charges, which were a net gain primarily related to the sale of our global surgical solutions business. Organic operating income increased 22%, as solid sales growth and lower delivered product costs more than offset growth-oriented investments in the business.
- Christophe Beck, Ecolab's chairman and chief executive officer, said, "We had another excellent quarter with broad-based performance throughout our business. Organic sales grew across all of our segments and our operating income margin continued to expand to drive 19% growth in adjusted diluted earnings per share. Strong new business wins and breakthrough innovation helped accelerate our volume growth back to 2%. Our unique ability to deliver significant total customer value has resulted in continued strong value pricing that remains in our targeted 2-3% range despite favorable carry-over pricing benefits now behind us. In a world that remains hard to predict, our innovative solutions are more essential now than ever to our customers as they drive productivity while also reducing water and energy consumption.
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08:02 |
CRVO CervoMed to Deliver Oral Presentation at International Lewy Body Dementia Conference; Topline data from the RewinD-LB Phase 2b study on track for December 2024
(13.11 )
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BOSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- CervoMed Inc. (NASDAQ: CRVO), a clinical-stage company focused on developing treatments for age-related neurologic disorders, today announced that it will deliver an oral presentation providing detailed safety and efficacy results from its completed RewinD-LB Phase 2b clinical trial of neflamapimod in dementia with Lewy bodies (DLB) at the eighth International Lewy Body Dementia Conference (ILBDC) taking place on January 29-31, 2025 in Amsterdam, the Netherlands. |
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08:01 |
SHIP Seanergy Maritime issues statement on court's dismissal of Economou's Litigation
(9.62 )
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ATHENS, Greece, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Seanergy Maritime Holdings Corp. ("Seanergy" or the "Company") (NASDAQ: SHIP) today issued the following statement regarding the decision by the High Court of the Republic of the Marshall Islands dismissing the litigation brought by Economou through his entity Sphinx Investment Corp., and with it Sphinx's motion for a temporary restraining order which sought to delay the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). |
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08:00 |
BONDX Overnight Treasury Market Summary |
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Another Lower Start Ahead - U.S. Treasuries are on course for another lower start with longer tenors expected to pace the early selling after a fairly quiet night in global markets. Treasury futures inched higher in early evening action, maintaining their slim gains through the Asian session, which included ongoing speculation about the future of Japan's Prime Minister Kishida and news that China is looking to implement additional fiscal stimulus if former President Trump wins next week's election. The market fell to lows once the focus turned to Europe, followed by a shallow bounce during the past three hours. The U.S. session will feature the release of the Consumer Confidence report for October (Briefing.com consensus 99.0; prior 98.7) and September job openings (prior 8.040 mln) while the U.S. Treasury will sell $44 bln in 7-yr notes to follow yesterday's 2- and 5-yr note offerings. Crude oil is staying above yesterday's low (66.92) while the U.S. Dollar Index is up 0.1% at 104.40.
- Yield Check:
- 2-yr: +1 bp to 4.15%
- 3-yr: +2 bps to 4.11%
- 5-yr: +2 bps to 4.13%
- 10-yr: +2 bps to 4.30%
- 30-yr: +2 bps to 4.55%
- News:
- Japan's Prime Minister Ishiba is attempting to form a new ruling coalition but is facing resistance from the leader of the party that he is seeking an alliance with.
- The Chinese government will purchase more electric vehicles to support the industry.
- China State Council announced that more support will be provided for families with multiple children.
- The German Chamber of Commerce and Industry lowered its domestic growth forecast for 2024 to -0.2% from 0.0%.
- BP and Lufthansa reported a decrease in their respective profits for Q3.
- European Central Bank policymaker De Guindos acknowledged that inflation is headed in the right direction while growth is not.
- Japan's September jobs/applications ratio rose to 1.24 from 1.23 (expected 1.23) and September Unemployment Rate fell to 2.4% from 2.5% (expected 2.5%).
- Singapore's Q3 Unemployment Rate fell to 1.8% from 2.0%.
- Germany's November GfK Consumer Climate improved to -18.3 from -21.0 (expected -20.4).
- U.K.'s September BoE Consumer Credit reached GBP1.213 bln (expected GBP1.40 bln; last GBP1.352 bln). September net lending to individuals reached GBP3.80 bln (expected GBP4.10 bln; last GBP4.156 bln) and Mortgage Approvals hit 65,650 (expected 65,000; last 64,960).
- Commodities:
- WTI Crude: +1.1% to $68.14/bbl
- Gold: +0.2% to $2762.40/ozt
- Copper: +1.3% to $4.419/lb
- Currencies:
- EUR/USD: -0.2% to 1.0797
- GBP/USD: +0.1% to 1.2984
- USD/CNH: +0.2% to 7.1554
- USD/JPY: +0.3% to 153.63
- Data out Today:
- 9:00 ET: August FHFA Housing Price Index (prior 0.1%) and August S&P Case-Shiller Home Price Index (Briefing.com consensus 5.1%; prior 5.9%)
- 10:00 ET: October Consumer Confidence (Briefing.com consensus 99.0; prior 98.7) and September job openings (prior 8.040 mln)
- Treasury Auctions:
- 13:00 ET: $44 bln 7-yr Treasury note auction results
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07:55 |
DHI D.R. Horton misses by $0.25, misses on revs; guides FY25 revs below consensus; increases quarterly dividend 33% to $0.40/share
(180.38 )
|
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- Reports Q4 (Sep) earnings of $3.92 per share, excluding non-recurring items, $0.25 worse than the FactSet Consensus of $4.17; revenues fell 4.7% year/year to $10 bln vs the $10.22 bln FactSet Consensus.
- Co issues downside guidance for FY25, sees FY25 revs of $36-37.5 bln vs. $38.91 bln FactSet Consensus. FY25 Guidance: Homes closed by homebuilding operations of 90,000 homes to 92,000 homes. Income tax rate of approximately 24.5%. Consolidated cash flow provided by operations greater than fiscal 2024. Share repurchases of approximately $2.4 billion and dividend payments of approximately $500 million.
- Homebuilding revenue for the fourth quarter of fiscal 2024 increased 2% to $9.0 billion compared to $8.8 billion in the same quarter of fiscal 2023. Homes closed in the quarter increased 3% to 23,647 homes compared to 22,928 homes closed in the same quarter of fiscal 2023. Homebuilding revenue for the fiscal year ended September 30, 2024 increased 7% to $34.0 billion compared to $31.7 billion in fiscal 2023. Homes closed in fiscal 2024 increased 8% to 89,690 homes compared to 82,917 homes closed in fiscal 2023.
- "The supply of both new and existing homes at affordable price points is still generally limited, and demographics supporting housing demand are favorable. With a focus on affordable product offerings, 37,400 homes in inventory and continued improvement in our construction cycle times, we are well positioned for fiscal 2025. We expect to generate increasing levels of consolidated operating cash flows, and our liquidity and low leverage provide us with significant financial flexibility. Based on our strong financial position and cash flow, our Board recently increased our quarterly cash dividend by 33% to $0.40 per share. We are maintaining our disciplined approach to capital allocation to enhance the long-term value of our company, including consistent and increasing capital returns to our shareholders through share repurchases and dividends."
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07:53 |
NEE NextEra Energy agrees to sell $1.5 billion of equity units to J.P. Morgan (JPM), Mizuho (MFG) and Goldman Sachs & Co. (GS)
(82.87 )
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07:48 |
CVLT Commvault Systems beats by $0.07, beats on revs; guides DecQ revs above consensus; guides FY25 revs above consensus
(136.97 )
|
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- Reports Q2 (Sep) earnings of $0.83 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $0.76; revenues rose 16.1% year/year to $233.28 mln vs the $220.76 mln FactSet Consensus.
- Co issues upside guidance for Q3 (Dec), sees Q3 revs of $243-247 mln vs. $234.61 mln FactSet Consensus. Co guides to Non-GAAP operating margin of 20-21%.
- Co issues upside guidance for FY25, sees FY25 revs of $952-957 mln vs. $924.01 mln FactSet Consensus.
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07:48 |
ELDN Eledon Pharmaceuticals announces pricing of $85 mln underwritten offering of common stock and pre-funded warrants
(3.37 )
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- The Co. announces the pricing of its underwritten offering of (i) 18,356,173 shares of its common stock at a price of $3.65 per share and (ii) pre-funded warrants to purchase up to an aggregate of 4,931,507
shares of common stock at a price of $3.649 per pre-funded warrant.
- The pre-funded warrants will be immediately exercisable and will have an
exercise price of $0.001 per share. The gross
proceeds from the offering, before
deducting underwriting discounts and commissions and offering expenses, are expected to be
approximately $85 million. All of the shares of common stock and pre-funded warrants in the offering are to be sold by Eledon. The offering is expected to close on or about October
30, 2024, subject to the satisfaction of customary closing conditions.
- Eledon currently intends to use the net proceeds from this offering to advance its pipeline and for working
capital and general corporate purposes.
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07:46 |
ELDN Eledon Pharmaceuticals announces positive data for the first three islet transplant recipients treated with an immunosuppression regimen that includes tegoprubart, the Company's investigational anti-CD40L antibody, for prevention of islet transplant rejection in subjects with type 1 diabetes
(3.37 )
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- First two out of three subjects treated
with tegoprubart as part of immunosuppression regimen to prevent transplant
rejection achieved insulin independence and remain insulin free, with glucose
control in the normal range; Third subject
was recently transplanted and is on trajectory for insulin independence.
- Islet engraftment in the first two subjects with tegoprubart estimated three to five times higher than
engraftment in three comparable subjects
receiving standard of care tacrolimus-based immunosuppression.
- Treatment with tegoprubart was generally well
tolerated.
- Study data to be presented by UChicago Medicine's team in
oral presentation at the 5th
IPITA/HSCI/Breakthrough T1D Stem Cells Summit.
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07:43 |
GLW Corning CORRECTION on quote
(46.84 )
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- Our prior GLW included a executive quote from CROX instead of GLW. The prior comment has been edited to show an executive quote from GLW.
- See 6:10
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07:42 |
SCANX Gapping up/Gapping down |
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Gapping up In reaction to earnings/guidance: - VFC +19%,
FFIV +10.6% ($1.0 bln repurchase plan),
NARI +8.1%,
CWH +7.9%,
GLW +7%,
SSTK +6.7%,
TREX +6.4%,
ZBRA +6.4%,
THC +5.8%,
AGYS +5.7%,
CDNS +5.3%,
OPRA +4.9%,
LDOS +4.6%,
KRC +4.5%,
HSBC +4.5%,
HRMY +4.4%,
UCTT +4.1%,
SOFI +3.5%,
EHC +3.1%,
CR +3%,
HAYW +3%,
PSO +2.7%,
FOR +2.3%,
SAFE +2%,
MSCI +2%,
LTC +1.8%,
SKY +1.8% (refreshes repurchase plan),
KFRC +1.5%,
WELL +1.5%,
PFE +1.5%,
STNG +1.5%,
RITM +1.2%
Other news: - PFIE +46.5% (CECO Environmental (CECO) to acquire Profire Energy for $125 mln)
- LAC +10.9% (closes $2.26 bln loan)
- VEEA +6.7% (Veea, O.N.E. Amazon, and AECOM Collaborate to Create the Internet of Forests (IoF), a Hybrid Edge-Cloud Computing Solution to Protect the Rainforest Biome and Empower Local Communities)
- COYA +4.7% (results from the placebo-controlled Phase 2 clinical trial of LD IL-2)
- BYON +3% (confirmed Executive Chairman entered into a Stock Purchase Agreement)
- CLVT +2.6% (Silverchair has entered into a definitive agreement with Clarivate Plc to acquire ScholarOne)
- ARDX +1% (presents results from IBS survey)
- QTRX +1% (multi-marker blood test increases number of patients)
Analyst comments: - PHG +2% (upgraded to Hold from Underperform at Jefferies)
- SUM +1.1% (upgraded to Overweight from Equal Weight at Barclays)
Gapping down In reaction to earnings/guidance: - CVI -25% (suspends dividend),
TMDX -23.4%,
HLIT -22.4%,
XRX -16.6%,
JBI -13.2%,
AMKR -11.4%,
CROX -11.3%,
ATI -7.5%,
CHKP -6.4%,
BOOT -6.3% (CEO to step down),
F -5.5%,
TRNS -5.3%,
CCCS -4.6%,
JBLU -4.5%,
PYPL -4.5%,
FLS -3.9%,
AESI -3.8% (increases dividend and authorizes up to $200 mln for repurchases),
NVS -3.6%,
MCD -3.6%,
LEG -3.5%,
UFPI -3.5%,
HNI -3.5%,
RMBS -3.3%,
KNSA -3%,
SWK -2.8%,
EXP -2.8%,
HUBB -2.8%,
QUAD -2.7%,
SAN -2.6%,
PCH -2.5%,
BP -2.2%,
CECO -1.9%,
GPK -1.8%,
MAS -1.8%,
SXI -1.8%,
RCL -1.7%,
LEU -1.5%,
CBZ -1.3%
Other news: - EYPT -5.9% (stock offering)
- KDP -4.3% (pricing of secondary offering of common stock by JAB)
- NEE -3.6% (to sell $1.5 bln of equity units)
- PRCT -3.3% (stock offering)
- VERA -1.8% (proposes offering to issue and sell $300.0 million of shares of its Class A common stock)
- BA -1.7% (prices upsized offerings of common stock and depositary shares)
- SHYF -1.6% (expands Blue Arc EV network)
- RILY -1.4% (announces it and its subsidiary bebe stores, inc. have completed a transaction for their brand assets yielding ~$236 mln in cash proceeds to B. Riley)
- DFH -1% (acquires Alliant National Title Insurance Company)
Analyst comments: - RDW -3.3% (downgraded to Neutral from Buy at B. Riley Securities)
- TPR -1.1% (downgraded to Hold from Buy at TD Cowen)
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07:40 |
HNI HNI beats by $0.05, misses on revs, Non-GAAP EPS in Q4 expected to decrease from 2023 levels
(51.83 )
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- Reports Q3 (Sep) earnings of $1.03 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $0.98; revenues fell 5.5% year/year to $672.2 mln vs the $712.75 mln FactSet Consensus.
- Outlook: Non-GAAP earnings per share in the fourth quarter are expected to decrease from 2023 levels. For the full year, non-GAAP EPS is expected to increase at a rate of 10 percent or more for the third consecutive year, driven by margin expansion in both Workplace Furnishings and Residential Building Products.
- For the fourth quarter of 2024, Workplace Furnishings net sales are expected to decrease at a low-to-mid single-digit rate year-over-year. This new outlook reflects the impact of uncertainty around the U.S. elections and the broader macroeconomic environment, which are causing customers to reduce their short cycle transactional purchases and further delay projects.
- Fourth quarter net sales in the Residential Building Products segment are projected to decline at a low single-digit rate versus the same period in 2023 as incoming orders have been negatively impacted by record-low housing turnover, elevated interest rates, ongoing affordability issues, and economic uncertainty.
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07:38 |
HRMY Harmony Biosciences beats by $0.13, beats on revs; reiterates FY24 revs in-line
(35.75 )
|
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- Reports Q3 (Sep) earnings of $0.79 per share, $0.13 better than the FactSet Consensus of $0.66; revenues rose 16.0% year/year to $186 mln vs the $184.07 mln FactSet Consensus.
- On Track to Submit sNDA for Pitolisant in Idiopathic Hypersomnia (IH) in Q4 2024 Based on Updated Strong and Sustained Efficacy Data from Long-Term Extension Study
- Next-Gen Pitolisant-GR and Pitolisant-HD Programs Advance; IND for Potential Best-In-Class, Novel Orexin-2 Agonist On Track for mid-2025, Extending Leadership in Sleep/Wake Beyond 2040s.
- Next Major Clinical Catalyst: Topline Data From ZYN-002 Pivotal Phase 3 RECONNECT Trial in Fragile X Syndrome on Track For mid-2025
- Co issues in-line guidance for FY24, sees FY24 revs of $700-720 mln vs. $710.12 mln FactSet Consensus.
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07:37 |
NWBI Northwest Bancshares reports EPS in-line, net interest income increased 2.7% yr/yr
(13.48 )
|
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- Reports Q3 (Sep) earnings of $0.26 per share, in-line with the FactSet Consensus of $0.26.
- Compared to the quarter ended September 30, 2023, net interest income increased $3 million and net interest margin increased to 3.33% from 3.23% for the quarter ended September 30, 2023.
- Average loans receivable increased $33 million from the quarter ended September 30, 2023 driven by our commercial banking portfolio, which grew by $456 million in total, including a $372 million increase in our commercial and industrial portfolio as we have continued to build-out our commercial lending verticals.
- Average deposits grew $377 million from the quarter ended September 30, 2023, driven by a $666 million increase in our average time deposits as we competitively positioned our deposit products over the last year.
- 2Q24 Outlook: Sees low single digit margin expansion vs. Q3 for net interest margin. Sees stable deposit balances through managed cost. Trend towards normalized net charge-off (25-35 bps).
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07:36 |
HUBB Hubbell beats by $0.03, misses on revs; guides FY24 EPS in-line, revs below consensus
(449.67 )
|
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- Reports Q3 (Sep) earnings of $4.49 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $4.46; revenues rose 4.9% year/year to $1.44 bln vs the $1.48 bln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $16.35-16.55, excluding non-recurring items, up from $16.20-16.50, vs. $16.43 FactSet Consensus; sees FY24 revs of +6% yr/yr, down from +7-8%, implying $5.695 bln vs. $5.77 bln FactSet Consensus.
- The Company anticipates acquisitions net of the residential lighting business divestiture contributing approximately 5% to full year sales growth.
- Co expects organic sales growth of approx. +1%, down from approx. +3%.
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07:35 |
ZLAB Zai Lab reports positive topline data from Phase 3 bridging trial evaluating KarXT for the treatment of schizophrenia in China
(32.54 )
|
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Trial also met all secondary endpoints, demonstrating statistically significant reductions in positive and negative symptoms of schizophrenia, as measured by the PANSS positive subscale, PANSS negative subscale and PANSS negative Marder factor score |
|
07:35 |
ATI ATI Inc. misses by $0.06, misses on revs; lowers FY24 EPS below consensus
(63.22 )
|
|
- Reports Q3 (Sep) earnings of $0.60 per share, excluding non-recurring items, $0.06 worse than the FactSet Consensus of $0.66; revenues rose 2.5% year/year to $1.05 bln vs the $1.12 bln FactSet Consensus.
- "The third quarter presented challenges and we expect to continue to see uncertainty with our most critical customers through the remainder of 2024 and first part of 2025. That said, the demand in our end markets remains very strong and our strategy of leading in aerospace & defense and 'aero-like' markets will deliver growth and continued margin expansion."
- Co issues downside guidance for FY24, sees EPS of $2.24-2.30, excluding non-recurring items, vs. $2.46 FactSet Consensus and prior guidance of $2.40-2.60.
- Expects adjusted EBITDA $700-710 mln versus prior guidance of $720-750 mln.
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07:34 |
ABEO Abeona Therapeutics announces that the Company has resubmitted its Biologics License Application to the U.S. FDA for prademagene zamikeracel, its investigational autologous cell-based gene therapy, as a potential new treatment for patients with recessive dystrophic epidermolysis bullosa
(6.39 )
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Upon acceptance of the BLA resubmission, Abeona expects the FDA to set a new Prescription Drug User Fee Act target action date for pz-cel. The review period for a resubmitted BLA is either two or six months from the resubmission date depending on the FDA's classification of a resubmission as Class 1 or Class 2, respectively. The FDA's decision on acceptance of a BLA resubmission is typically made within 14 calendar days following the resubmission. |
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07:34 |
TBNK Territorial Bancorp reaffirms board of directors recommendation that Territorial Shareholders Vote 'FOR' Hope Bancorp (HOPE) merger
(10.14 )
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07:33 |
OLLI Ollie's Bargain Outlet announces that it was the winning bidder in the latest bankruptcy sale process to acquire eight additional former Big Lots store leases
(89.59 )
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The eight stores were part of a bankruptcy auction for the second wave of Big Lots store closures, which included 170 stores. The acquisition of the eight additional store leases are subject to final bankruptcy court approval and customary closing conditions. Including these eight additional Big Lots locations, the Company has acquired a total of 15 former Big Lots store leases to date. |
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07:32 |
MGA Magna is accelerating the industry's move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco solution for a European OEM
(42.96 )
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- This contract marks the first high-volume award for the new transmission
family and supports various models in global markets with ICE transmissions.
- First high-volume contract award for new product supports various
vehicle models globally with ICE transmissions.
- New modular Dual Clutch Transmission enables seamless hybrid transition on
the same vehicle platform with minor changes.
- Efficient and compact design with optimized torque-to-weight ratio results
in lower CO emissions, contributing to a cleaner future.
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07:30 |
SUMRX European Markets Update: DAX +0.3%, FTSE +0.1%, CAC +0.4% |
|
Major European indices trade on a mostly higher note. The German Chamber of Commerce and Industry lowered its domestic growth forecast for 2024 to -0.2% from 0.0%. BP and Lufthansa reported a decrease in their respective profits for Q3. European Central Bank policymaker De Guindos acknowledged that inflation is headed in the right direction while growth is not. - In economic data:
- Germany's November GfK Consumer Climate -18.3 (expected -20.4; last -21.0)
- U.K.'s September BoE Consumer Credit GBP1.213 bln (expected GBP1.40 bln; last GBP1.352 bln). September net lending to individuals GBP3.80 bln (expected GBP4.10 bln; last GBP4.156 bln) and Mortgage Approvals 65,650 (expected 65,000; last 64,960)
---Equity Markets--- - STOXX Europe 600: +0.1%
- Germany's DAX: +0.3%
- U.K.'s FTSE 100: +0.1%
- France's CAC 40: +0.4%
- Italy's FTSE MIB: +0.4%
- Spain's IBEX 35: -0.2%
---FX--- - EUR/USD: -0.1% to 1.0799
- GBP/USD: +0.1% to 1.2980
- USD/CHF: +0.3% to 0.8673
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07:23 |
WIRES On The Wires |
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- Tutor Perini Corporation (TPC) announces that its subsidiary, Rudolph and Sletten, has been awarded a contract valued at more than $1 billion for a healthcare campus project in California. The project scope of work includes the construction of a new hospital, an energy center and a parking garage. Work is expected to begin in late 2024 with substantial completion anticipated in 2029.
- onsemi (ON) announces its wafer fab in East Fishkill, New York,
has been accredited by the Defense Microelectronics Activity of the U.S. Department of Defense as a Category 1A Trusted Supplier. The accreditation enables onsemi to
manufacture secure advanced semiconductors for a variety of critical aerospace
and defense applications at the site. onsemi's East Fishkill fab is the only 300
mm power discrete and image sensor fab in the U.S. and the company's second accredited fab in addition to its Gresham, Oregon
site.
- Enterprise Products Partners L.P. (EPD) announces that its refined products truck
terminal serving the Grand
Junction, Colorado and Moab, Utah areas is now in service, marking the
completion of the second phase of the
company's Texas Western Products system. Located in Grand County, Utah, the
facility features storage capacity of 400,000 barrels for gasoline and diesel
and can load trucks at a rate of up to 20,000 barrels per day. In
addition, the terminal is strategically located with direct access to Interstate
70, allowing it to serve markets in both eastern Utah and western Colorado.
- Teleflex Incorporated (TFX) announces the first patient enrolled in the latest Barrigel rectal spacer randomized, controlled, single-blinded multicenter study: The PPRT Trial.
- Spire Global (SPIR) was awarded a
concept study contract by NASA's Jet
Propulsion Laboratory to develop
space-based capabilities for a wildfire early detection warning and active
monitoring system. Spire will partner with OroraTech, the global leader in
space-based thermal intelligence, to design a comprehensive and scalable
solution.
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07:12 |
GLW Corning beats by $0.01, misses on revs; guides Q4 EPS above consensus, revs above consensus
(46.84 )
|
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- Reports Q3 (Sep) earnings of $0.54 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.53; revenues rose 6.9% year/year to $3.39 bln vs the $3.72 bln FactSet Consensus. Core sales were $3.75 bln.
- Co issues upside guidance for Q4, sees EPS of $0.53-0.57 vs. $0.52 FactSet Consensus; sees Q4 revs of $3.75 bln vs. $3.67 bln FactSet Consensus.
- Weeks continued, "In addition to delivering strong third-quarter results, we are marking strategic milestones in our 'Springboard' plan. In Display Technologies, we implemented price increases and expect to deliver segment net income of $900 million to $950 million in 2025 and to maintain net income margin of 25%. Additionally, in Optical Communications, our new products for generative AI are seeing strong demand and driving record year-over-year growth in our Enterprise business. We also recently announced a multiyear supply agreement, valued at more than $1 billion, with AT&T to provide next-generation fiber, cable, and connectivity solutions to support the expansion of AT&T's fiber network and help bring high-speed internet to more Americans."
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07:12 |
SXI Standex International beats by $0.05, misses on revs |
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- Reports Q1 (Sep) earnings of $1.71 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $1.66; revenues fell 7.7% year/year to $170.5 mln vs the $178.94 mln FactSet Consensus.
- Outlook: In the fiscal second quarter 2025, on a sequential basis, the Company expects moderately to significantly higher revenue, driven by the impact of the recent Amran/Narayan Group acquisition, more favorable project timing in Engraving, and improving overall demand in Electronics and Specialty. On a sequential basis, the Company expects slightly to moderately higher adjusted operating margin, benefiting from higher sales partially offset by increased investments in selling, marketing, and R&D. The Company also expects the Amran/Narayan Group acquisition to be slightly accretive to adjusted earnings per share in the fiscal second quarter 2025.
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07:12 |
CECO CECO Environ. to acquire Profire Energy (PFIE) for $125 million; expands position in niche energy and industrial markets with expanded environmental solutions for mission critical applications
(26.31 )
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- Provides cost synergies and enhances Profire's strategic growth by utilizing CECO's established international operations and customer relationships.
- CECO to host its Quarterly Earnings call today at 8:30 a.m. ET including further commentary regarding the transaction.
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07:12 |
RILY B. Riley Financial announces it and its subsidiary bebe stores, inc. have completed a transaction for their brand assets yielding ~$236 mln in cash proceeds to B. Riley
(5.63 )
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- At the closing of the transaction, B. Riley transferred and contributed its
interests in the assets and intellectual property related to the licenses of several brands, including Hurley,
Justice, Scotch & Soda, Catherine Malandrino, English Laundry, Joan Vass,
Kensie, Limited Too and Nanette Lepore to a securitization vehicle, receiving
approximately $189 mln in net proceeds in connection with
the financing transaction. bebe sold its
interests in the assets and intellectual property related to the licenses of the bebe and Brookstone brands for
approximately $47 mln in net cash proceeds also at the
closing.
- B. Riley acquired the portfolio of
brands (excluding bebe and Brookstone) for approximately $222 mln and
received $179 mln in distributions during its
ownership. The Company plans on utilizing the proceeds from this transaction to
pay down outstanding senior secured debt and deleverage its balance sheet.
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07:11 |
HAYW Hayward Holdings beats by $0.01, beats on revs; guides FY24 revs above consensus
(14.80 )
|
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- Reports Q3 (Sep) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.10; revenues rose 3.3% year/year to $227.57 mln vs the $222.88 mln FactSet Consensus.
- Co issues upside guidance for FY24, sees FY24 revs of $1.020 bln to $1.040 bln from $1.010 bln to $1.040 bln vs. $1.02 bln FactSet Consensus.
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07:10 |
CXT Crane NXT acquires smart packaging assets of Trutag Technologies, further expanding capabilities in product security and authentication technologies; financial terms were not disclosed
(55.67 )
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07:10 |
IVVD Invivyd announces "positive" 12-month exploratory clinical efficacy data from the company's ongoing CANOPY Phase 3 clinical trial of pemivibart, a half-life extended investigational monoclonal antibody, for the pre-exposure prophylaxis of COVID-19
(1.04 )
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- Following strong protection (84% relative risk reduction versus placebo)
demonstrated through month 6 with pemivibart, CANOPY clinical trial participants were followed for an
additional six-month period (months 7-12), with no additional doses, to assess
safety and efficacy as drug concentrations declined over time.
- In the six-month off-drug follow-up period (months 7-12), substantially
reduced concentrations of PEMGARDA reduced the risk of symptomatic COVID-19 by 64% compared to placebo in an
immunocompetent adult population, for total twelve-month risk reduction of 76%
following two initial pemivibart doses (nominal p <0.0001).
- Months 7-12 follow-up period included the U.S. summer KP.3 and KP.3.1.1 dominant wave, per CDC
surveillance.
- No new safety observations occurred months 7-12.
- Across all 12 months of the CANOPY clinical trial, Cohort B placebo arm participants
experienced an 18% rate of PCR-confirmed
symptomatic COVID-19, excluding
reinfections, indicative of continued, widespread, uncontrolled virus
transmission in the U.S.
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07:09 |
PYPL PayPal beats by $0.13, reports revs in-line, guides for low-to-mid single digit decrease in FY24 EPS, revenue growth in low-single-digits.
(83.59 )
|
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- Reports Q3 (Sep) earnings of $1.20 per share, $0.13 better than the FactSet Consensus of $1.07; revenues rose 6.0% year/year to $7.85 bln vs the $7.88 bln FactSet Consensus.
- Total payment volume increased 9% to $422.6 billion; 9% FXN.
- Payment transactions increased 6% to 6.6 billion.
- Active accounts increased 0.9% to 432 million. On a sequential basis, active accounts increased 0.6%, or by 2.6 million.
- 4Q24 Guidance: Sees Non-GAAP EPS decreasing low-to-mid single digits vs. FactSet Consensus estimate for a decrease of 2.6%; Sees revenue growth of low-single-digits vs. FactSet Consensus estimate for growth of 5.4%.
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07:08 |
JBLU JetBlue Airways beats by $0.05, reports revs in-line; guides FY24 revs below consensus
(7.32 )
|
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- Reports Q3 (Sep) loss of $0.16 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of ($0.21); revenues rose 0.5% year/year to $2.37 bln vs the $2.36 bln FactSet Consensus.
- Third quarter 2024 system capacity decreased by 3.6% year-over-year.
- Operating expense per available seat mile ("CASM") for the third quarter of 2024 decreased 0.7% year-over-year. Operating expense per available seat mile, excluding fuel, other non-airline operating expenses, and special items ("CASM ex-Fuel") for the third quarter of 2024 increased 4.8% year-over-year.
- "Our number one goal remains returning to operating profitability, and growing our unit revenue is imperative to reach operating profitability. As underlying trends from the third quarter have broadly continued into the fourth quarter so far, we expect unit revenue growth to remain positive and sequentially consistent when adjusting for the CrowdStrike benefit in the third quarter and the negative impacts of Hurricane Milton and the election in the fourth quarter. As we look to 2025, I am encouraged by the backdrop for our revenue performance to continue improving, particularly as additional JetForward initiatives begin yielding benefits," said Marty St. George.
- Sees Q4 revenues (7.0%) - (3.0%) yr/yr. Expects CASM Ex-Fuel 13.0% - 15.0% yr/yr.
- Co issues downside guidance for FY24, sees FY24 revs growth (5.0%) - (4.0%) yr/yr, which translates to ~$9.13-9.23 bln vs. $9.29 bln FactSet Consensus.
- CASM Ex-Fuel 7.0% - 8.0% yr/yr
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07:07 |
MCD McDonald's beats by $0.02, reports revs in-line
(296.87 )
|
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- Reports Q3 (Sep) earnings of $3.23 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $3.21; revenues rose 2.7% year/year to $6.87 bln vs the $6.82 bln FactSet Consensus.
- Global comparable sales decreased -1.5%:
- U.S. comps increased +0.3%; US comps reflect average check growth, partly offset by slightly negative comparable guest counts. Effective value and marketing campaigns featuring the core menu, successful restaurant level execution and continued digital and delivery growth contributed to slightly positive comps.
- International Operated Markets comps -2.1%; Segment performance was impacted by negative comps across a number of markets, driven by France and the UK.
- International Developmental Licensed Markets comps -3.5%; The continued impact of the war in the Middle East and negative comps in China more than offset positive comps in Latin America.
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07:07 |
SKYE Skye Bioscience names independent director Paul Grayson as Chairman of the Board, effective October 25, 2024
(5.15 )
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- Mr. Grayson currently serves as a member of Skye's Audit, Compensation and Nominating and Corporate Governance Committees.
- Punit Dhillon, Skye's Chief Executive Officer, will continue to serve as a member of the Board.
|
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07:07 |
CROX Crocs beats by $0.50, beats on revs; guides Q4 EPS below consensus
(138.05 )
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- Reports Q3 (Sep) earnings of $3.60 per share, excluding non-recurring items, $0.50 better than the FactSet Consensus of $3.10; revenues rose 1.6% year/year to $1.06 bln vs the $1.05 bln FactSet Consensus.
- Co issues downside guidance for Q4, sees EPS of $2.20-2.28, excluding non-recurring items, vs. $2.72 FactSet Consensus.
- "We reported third quarter results which exceeded our Enterprise guidance on sales and profitability," said Andrew Rees, Chief Executive Officer. "Our overall performance including strong gross margin gains allowed us to accelerate our strategic investments in the quarter while continuing to deliver earnings per share growth through the deployment of our strong cash flow. Strength was led by our Crocs Brand fueled by 17% international and 8% direct-to-consumer growth." Mr. Rees continued, "We have sharpened our strategy around HEYDUDE as we work to create higher brand relevance through our product and marketing initiatives. While we are seeing early green shoots from these actions, HEYDUDE's recent performance and the current operating environment are signaling it will take longer than we had initially planned for the brand to turn a corner. While we are resetting our full-year outlook for HEYDUDE, I remain confident in the long-term trajectory of the brand." Guidance: "With respect to the fourth quarter of 2024, we expect: Revenues to be flat to up slightly compared to fourth quarter 2023, at currency rates as of the end of the last reported period. Crocs Brand to grow approximately 2% compared to fourth quarter 2023. HEYDUDE Brand to be down 6% to 4% compared to fourth quarter 2023. Adjusted operating margin of approximately 19.5%."
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07:07 |
SSTK Shutterstock beats by $0.36, beats on revs; guides FY24 EPS above consensus, revs above consensus; names new CFO
(29.53 )
|
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- Reports Q3 (Sep) earnings of $1.31 per share, excluding non-recurring items, $0.36 better than the FactSet Consensus of $0.95; revenues rose 7.4% year/year to $250.59 mln vs the $240.9 mln FactSet Consensus.
- Co issues upside guidance for FY24, sees EPS of $4.22-4.31, excluding non-recurring items, narrowed from $4.18-4.32, vs. $3.58 FactSet Consensus; sees FY24 revs of $935-940 mln, up from $927-936 mln, vs. $931.23 mln FactSet Consensus.
- CFO Jarrod Yahes will be departing to pursue another opportunity. Rik Powell will become the new CFO.
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07:05 |
BITF Bitfarms announces that it has nominated Andrew J. Chang for election to its Board of Directors at the Special Meeting of shareholders to be held on November 20, 2024 at 4:00p.m. Eastern Time
(2.14 )
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Pursuant to the Settlement Agreement between the Company and Riot Platforms,
Inc. (RIOT) dated September 23, 2024, at the Special Meeting, shareholders will be
asked to approve an expansion of the Board
from five members to six members, to elect an independent director nominated by
the Board to serve as the sixth member of the Board, to ratify the Company's
shareholder rights plan adopted on July 24, 2024, and to conduct such other
business as may properly come before the Special Meeting. |
|
07:05 |
SXI Standex International acquires Amran Instrument Transformers and Narayan Powertech pvt.
(179.37 )
|
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- These transactions represent a combined enterprise value of approximately $462 million, comprised of 85% cash and 15% in Standex common stock for Amran Instrument Transformers and 90% cash and 10% in Standex common stock for Narayan Powertech Pvt. Ltd.
- Immediately accretive to revenue growth, eBITDA Margin, operating margin, EPS and FCF.
Amran/Narayan Grew Revenue at ~30% CAGR Over Last Three Years; Expects ~$100M of Revenue in CY 2024, with Adjusted EBITDA Margin Above 40%.
- Significantly expands presence in the fast-growing, high-margin electrical grid end market, benefiting from infrastructure upgrades, capacity expansion and data center demand.
- Standex's exposure to fast growth markets increases to ~25% of sales on pro-forma FY 2024 Basis.
- Broadens Technology platform and capabilities to expand growth into electronics' markets.
- Geographic expansion with engineering expertise in india and intellectual property in low to medium voltage technologies.
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07:04 |
INCY Incyte beats by $0.09, beats on revs; provides business update
(65.69 )
|
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- Reports Q3 (Sep) earnings of $1.07 per share, excluding non-recurring items, $0.09 better than the FactSet Consensus of $0.98; revenues rose 23.8% year/year to $1.14 bln vs the $1.08 bln FactSet Consensus.
- Jakafi (ruxolitinib) net product revenues of $741 million in Q3 (+16% Y/Y); raising full year 2024 Jakafi guidance to a new range of $2.74-2.77 bln.
- Opzelura (ruxolitinib) cream net product revenues of $139 million in Q3 (+52% Y/Y); launch momentum continues in the U.S. supported by reimbursement expansion in Europe.
- Niktimvo (axatilimab-csfr) approved by FDA for the treatment of chronic graft-versus-host disease after failure of at least two prior lines of systemic therapy in adult and pediatric patients.
- Regulatory and development progress with supplemental New Drug Application (sNDA) for ruxolitinib cream in pediatric atopic dermatitis filed and positive data presented for CDK2 inhibitor, retifanlimab and tafasitamab.
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07:03 |
SOFI SoFi Technologies beats by $0.01, beats on revs; guides FY24 EPS above consensus, revs above consensus
(11.19 )
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- Reports Q3 (Sep) earnings of $0.05 per share, $0.01 better than the FactSet Consensus of $0.04; revenues rose 29.8% year/year to $697.1 mln vs the $631.59 mln FactSet Consensus.
- Co issues upside guidance for FY24, sees EPS of $0.11-0.12 vs. $0.10 FactSet Consensus; sees FY24 revs of 2.54-2.55 bln vs. $2.46 bln FactSet Consensus.
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07:02 |
MAS Masco reports EPS in-line, revs in-line; guides FY24 EPS in-line
(81.68 )
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- Reports Q3 (Sep) earnings of $1.08 per share, in-line with the FactSet Consensus of $1.08; revenues rose 0.2% year/year to $1.98 bln vs the $2 bln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $4.05-4.15, excluding non-recurring items, down from $4.05-4.20, vs. $4.11 FactSet Consensus.
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07:02 |
SUMRX Asian Markets Close: Nikkei +0.8%, Hang Seng +0.5%, Shanghai -1.1% |
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Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note. Japan's Prime Minister Ishiba is attempting to form a new ruling coalition, but is facing resistance from the leader of DPP, which is the party Mr. Ishiba is seeking an alliance with. The Chinese government will purchase more electric vehicles to support the industry. China State Council announced that more support will be provided for families with multiple children. - In economic data:
- Japan's September jobs/applications ratio 1.24 (expected 1.23; last 1.23) and September Unemployment Rate 2.4% (expected 2.5%; last 2.5%)
- Singapore's Q3 Unemployment Rate 1.8% (last 2.0%)
---Equity Markets--- - Japan's Nikkei: +0.8%
- Hong Kong's Hang Seng: +0.5%
- China's Shanghai Composite: -1.1%
- India's Sensex: +0.5%
- South Korea's Kospi: +0.2%
- Australia's ASX All Ordinaries: +0.3%
---FX--- - USD/JPY: +0.1% to 153.39
- USD/CNH: +0.2% to 7.1555
- USD/INR: UNCH at 84.02
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07:01 |
PAG Penske Auto misses by $0.02, misses on revs
(155.64 )
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- Reports Q3 (Sep) earnings of $3.39 per share, $0.02 worse than the FactSet Consensus of $3.41; revenues rose 1.9% year/year to $7.59 bln vs the $7.67 bln FactSet Consensus.
- New and Used Retail Automotive Units Delivered -- decreased 4%.
- Retail Automotive Same-Store Revenue -- decreased 5%.
- New and Used Retail Commercial Truck Units -- increased 14%.
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06:58 |
JBI Janus International Group misses by $0.10, misses on revs; lowers FY24 revs below consensus
(10.31 )
|
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- Reports Q3 (Sep) earnings of $0.11 per share, $0.10 worse than the FactSet Consensus of $0.21; revenues fell 17.9% year/year to $230.1 mln vs the $248.21 mln FactSet Consensus.
- Co issues lowered guidance for FY24, sees FY24 revs of $910-925 mln from $1.01-1.04 bln vs. $1 bln FactSet Consensus.
- The Company is undertaking a structural cost reduction plan designed to streamline our labor force, rationalize real estate holdings and reduce selling, general and administrative expenses. Cost Reduction Plan actions are expected to generate approximately $8 million to $12 million of annual pre-tax cost savings. The Company expects to record total one time estimated pre-tax charges of $2 million to $4 million with the plan.
|
|
06:55 |
STNG Scorpio Tankers beats by $0.03, reports revs in-line
(60.95 )
|
|
- Reports Q3 (Sep) earnings of $1.75 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $1.72; revenues fell 8.0% year/year to $267.99 mln vs the $270.45 mln FactSet Consensus.
|
|
06:53 |
PFE Pfizer beats by $0.45, beats on revs; raises FY24 EPS and revenue guidance
(28.86 )
|
|
- Reports Q3 (Sep) earnings of $1.06 per share, excluding non-recurring items, $0.45 better than the FactSet Consensus of $0.61; revenues rose 31.2% year/year to $17.7 bln vs the $14.92 bln FactSet Consensus.
- Revenue growth reflects an operational increase of $4.3 billion, or 32%, primarily due to growth contributions from Paxlovid as well as several of our acquired products, key in-line products, and recent commercial launches, partially offset by an unfavorable impact of foreign exchange of $133 million, or 1%. Excluding contributions from Paxlovid and Comirnaty, revenues totaled $13.6 billion, an increase of $1.7 billion, or 14%, operationally compared with the prior-year quarter.
- On track to deliver net cost savings of at least $5.5 bln from previously announced cost reduction initiatives.
- Co raises guidance for FY24, sees EPS of $2.75-$2.95, excluding non-recurring items, vs. prior guidance of $2.45-$2.65, above the $2.66 FactSet Consensus; sees FY24 revs of $61.0-$64.0 bln vs. prior guidance of $59.5-$62.5 bln, vs. the $61.13 bln FactSet Consensus.
- The company's updated guidance for revenue includes approximately $10.5 billion in anticipated revenues for Comirnaty and Paxlovid, approximately $5 billion and $5.5 billion, respectively.
|
|
06:53 |
PJT PJT Partners beats by $0.02, beats on revs
(141.08 )
|
|
- Reports Q3 (Sep) earnings of $0.93 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.91; revenues rose 17.2% year/year to $326.3 mln vs the $313.46 mln FactSet Consensus.
- Paul J. Taubman, Chairman and Chief Executive Officer, said, "Our firm delivered record third quarter and nine months results with strong year-to-date performance in all our businesses. We continue to see progress as measured by the success of our recruiting efforts, the maturation of our team, the expansion of our global reach, and the growing appreciation of our firm's unique capabilities. As before, we remain highly confident in our future growth prospects."
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06:50 |
GPK Graphic Packaging misses by $0.03, misses on revs; guides FY24 EPS below consensus
(30.35 )
|
|
- Reports Q3 (Sep) earnings of $0.64 per share, excluding non-recurring items, $0.03 worse than the FactSet Consensus of $0.67; revenues fell 5.7% year/year to $2.22 bln vs the $2.27 bln FactSet Consensus.
- Co issues downside guidance for FY24, sees EPS of $2.49-2.61, excluding non-recurring items, vs. $2.63 FactSet Consensus.
- The Company is currently targeting 2025 financial results in line with the Vision 2030 base financial model:
- Low single-digit Sales growth
- Mid single-digit Adjusted EBITDA growth
- High single-digit Adjusted EPS growth
|
|
06:49 |
MSCI MSCI beats by $0.08, beats on revs
(595.27 )
|
|
- Reports Q3 (Sep) earnings of $3.86 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $3.78; revenues rose 15.9% year/year to $724.7 mln vs the $716.15 mln FactSet Consensus.
- Recurring subscription revenues up 15.4%; Asset-based fees up 19.5%. Operating margin of 55.4%; Adjusted EBITDA margin of 62.2%.
- Co reaffirms FY24 operating expense $1,305 to $1,345 million.
- "MSCI's third-quarter results highlight the underlying strength of our business model and client footprint, as well as the essential role that our solutions play across the investment ecosystem. Among other achievements, we posted our best-ever Q3 for recurring sales in Index and Analytics, along with nearly 20% growth in asset-based-fee revenue, which was driven by record AUM balances in financial products linked to our indexes," said Henry A. Fernandez, Chairman and CEO of MSCI.
|
|
06:49 |
THC Tenet Healthcare beats by $0.58, beats on revs; guides Q4 EPS in-line, revs below consensus
(139.49 )
|
|
- Reports Q3 (Sep) earnings of $2.93 per share, excluding non-recurring items, $0.58 better than the FactSet Consensus of $2.35; revenues rose 1.1% year/year to $5.12 bln vs the $5.05 bln FactSet Consensus.
- Co issues guidance for Q4, sees EPS of $2.69-3.31 vs. $2.88 FactSet Consensus; sees Q4 revs of $5.01-5.21 bln vs. $5.29 bln FactSet Consensus.
- FY 2024 Adjusted EBITDA Outlook now expected to be in the range of $3.9 billion to $4.0
billion, a $50 million increase
|
|
06:49 |
BYON Beyond, Inc. confirmed Executive Chairman entered into a Stock Purchase Agreement (see Oct 28 9:57)
(7.00 )
|
|
On October 28, 2024, Marcus Lemonis, Executive Chairman of the Board of Beyond, entered into a Stock Purchase Agreement with the Company pursuant to which Mr. Lemonis agreed to purchase 71,428 shares of common stock from the Company at a price of $7.00 per share, representing the Company's closing stock price on the Effective Date. The stock purchase is expected to close on or about October 29, 2024, subject to customary closing conditions. |
|
06:47 |
ZBRA Zebra Tech beats by $0.26, beats on revs; guides Q4 EPS above consensus, revs above consensus
(363.58 )
|
|
- Reports Q3 (Sep) earnings of $3.49 per share, excluding non-recurring items, $0.26 better than the FactSet Consensus of $3.23; revenues rose 31.3% year/year to $1.25 bln vs the $1.22 bln FactSet Consensus.
- Co issues upside guidance for Q4, sees EPS of $3.80 to $4.00, excluding non-recurring items, vs. $3.53 FactSet Consensus; sees Q4 revs of +28 to +31% yr/yr or $1.292 bln to $1.322 bln vs. $1.25 bln FactSet Consensus.
|
|
06:47 |
RCL Royal Caribbean beats by $0.17, reports revs in-line; raises FY24 EPS in-line
(203.52 )
|
|
- Reports Q3 (Sep) earnings of $5.20 per share, excluding non-recurring items, $0.17 better than the FactSet Consensus of $5.03; revenues rose 17.5% year/year to $4.89 bln vs the $4.89 bln FactSet Consensus.
- Load factor in the third quarter was 111%.
- Gross Margin Yields increased 13.4% as-reported, and Net Yields increased 7.9% in Constant Currency (and as-reported), when compared to the third quarter of 2023.
- "The demand and pricing environment accelerated since the last earnings call, exceeding 2023 levels. Closer-in demand for 2024 sailings exceeded expectations, contributing to higher load factors at higher prices and higher onboard revenue for the third quarter. Consumer spending onboard, as well as pre-cruise purchases, continue to significantly exceed 2023 levels driven by greater participation at higher prices."
- Co issues guidance for Q4, sees EPS of $1.40-1.45, may not be comparable to $1.58 FactSet Consensus.
- Includes $0.24 of headwinds -- one third is related to Hurricane Milton, with the remainder driven by the timing of costs shifting from the third quarter, and higher non-cash stock compensation.
- Fourth Quarter 2024 Net Yields are expected to increase 5.1% to 5.6% in Constant Currency and 5.3% to 5.8% as-reported as compared to the same period in the prior year.
- NCC, excluding Fuel, per APCD, is expected to increase 11.6% to 12.1% in Constant Currency and 11.7% to 12.2% as-reported as compared to the same period in the prior year.
- Co issues in-line guidance for FY24, sees EPS of $11.57-11.62, excluding non-recurring items, vs. $11.58 FactSet Consensus and prior guidance of $11.35-11.45.
- Net Yields are expected to increase 10.8% to 11.3% in Constant Currency (10.9% to 11.4% as-reported).
- NCC, excluding Fuel, per APCD is expected to increase approximately 6.2% to 6.7% in Constant Currency and as-reported. The increase in costs, compared to prior guidance, is driven by higher stock-based compensation.
- "Demand for 2025 is strong with booked load factors in line with prior years and at higher rates, allowing for further pricing and yield growth as 2025 bookings continue to ramp up... We see elevated demand patterns continuing as we build the business for 2025, and although the yield comparable will be a high bar, our proven formula of moderate capacity growth, moderate yield growth and strong cost discipline is expected to continue to deliver strong financial results. While we are still very early in the planning process, we anticipate earnings per share in 2025 to start with a $14 handle."
|
|
06:44 |
ABG Asbury Automotive misses by $0.23, misses on revs
(225.58 )
|
|
- Reports Q3 (Sep) earnings of $6.35 per share, excluding non-recurring items, $0.23 worse than the FactSet Consensus of $6.58; revenues rose 15.6% year/year to $4.24 bln vs the $4.3 bln FactSet Consensus.
- Estimated EPS impact of $0.39 - $0.43 due to stop sale orders for certain vehicle models (estimated lost sales of nearly 1,200 new units) and lost business from Hurricane Helene.
- New vehicle unit volume increase of 16%; new vehicle revenue increase of 16%; new vehicle gross profit decrease of 11%.
- Used vehicle retail unit volume increase of 16%; used vehicle retail revenue increase of 13%; used vehicle retail gross profit decrease of 6%.
|
|
06:43 |
CBZ CBIZ beats by $0.08, reports revs in-line; guides FY24 EPS in-line, revs in-line
(66.86 )
|
|
- Reports Q3 (Sep) earnings of $0.84 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $0.76; revenues rose 6.9% year/year to $438.9 mln vs the $440.16 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $2.64-$2.69, excluding non-recurring items, vs. $2.52 FactSet Consensus; sees FY24 rev growth of 7-9%, equating to revenue of $1.70-$1.73 bln vs. $1.71 bln FactSet Consensus.
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|
06:40 |
WIRES On The Wires |
|
- Scientists at deCODE genetics/Amgen (AMGN), and their collaborators have discovered six novel genes with rare germline variants that associate with cancer risk. The findings are published today in Nature Genetics under the title "Gene-based burden tests of rare germline variants identify six cancer susceptibility genes". A subset of cancers arises in individuals who are born with rare sequence variants that significantly alter their cancer risk. The discovery of such variants, like those in the BRCA1- and BRCA2 genes, has led to improved early cancer detection and the development of targeted therapies, ultimately reducing the cancer burden and improving prognosis of those carrying these mutations.
- Linde (LIN) announced it has started up the supply of
industrial gases to PT Freeport Indonesia, a leading mining company in
Indonesia and subsidiary of Freeport-McMoRan Inc.
- Akamai Technologies (AKAM) launched new capabilities to its Account Protector security solution. These enhancements are designed to safeguard user accounts against abuse throughout their entire lifecycle and provide advanced protection against account opening abuse, account takeover attacks, and other attack schemes.
- VIAVI Solutions (VIAV) announced that the company has been selected to design, build and operate a comprehensive lab to further the adoption of Open RAN, lower barriers to entry for new players, and train a highly skilled workforce that can fuel the Open RAN industry in Asia.
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|
06:39 |
ESAB ESAB Corp. beats by $0.13, beats on revs, narrows FY24 core adjusted EPS guidance range
(111.42 )
|
|
- Reports Q3 (Sep) earnings of $1.25 per share, excluding non-recurring items, $0.13 better than the FactSet Consensus of $1.12; revenues fell 1.2% year/year to $673 mln vs the $620.5 mln FactSet Consensus.
- Co issues guidance for FY24, sees core adjusted EPS of $4.80-$4.95 vs. prior guidance of $4.75-$4.95, and total core sales growth of (1.5)% to (0.5)%, vs. prior guidance of (2.5)% to (0.5)%,
|
|
06:38 |
FOR Forestar beats by $0.29, beats on revs; guides FY25 revs below consensus
(31.82 )
|
|
- Reports Q3 (Sep) earnings of $1.60 per share, excluding non-recurring items, $0.29 better than the FactSet Consensus of $1.31; revenues rose 0.3% year/year to $551.4 mln vs the $503.76 mln FactSet Consensus.
- Co issues downside guidance for FY25, sees FY25 revs of $1.6-1.65 bln vs. $1.65 bln FactSet Consensus.
- Donald J. Tomnitz, Chairman of the Board, said, "The Forestar team finished the year with a strong fourth quarter, demonstrating the resiliency of the new home market and builder demand despite elevated mortgage interest rates. We delivered over 15,000 finished lots in fiscal 2024, and our revenues exceeded the high end of our most recent guidance range. Over the last five years, Forestar invested approximately $6.7 billion in land acquisition and development and delivered over 70,000 finished lots to local, regional and national homebuilders. Over the same time period, our return on equity nearly tripled, and our book value per share increased 87%. Our improved profitability alongside our top line growth is creating meaningful value for our shareholders. As we look forward to fiscal 2025, we currently expect to deliver between 16,000 and 16,500 lots, generating $1.6 billion to $1.65 billion of revenue. We are focused on maximizing returns by balancing our pace of sales and lot pricing in each of our projects." Tomnitz concluded, "Forestar is uniquely positioned to take advantage of the shortage of finished lots in the homebuilding industry. Our strong balance sheet and ample liquidity give us the flexibility to adapt to changing market conditions and to invest in land development opportunities that position the Company for growth in fiscal 2025 and beyond. We expect to continue aggregating significant market share over the next few years and will maintain our disciplined approach to investing capital to enhance the long-term value of Forestar."
|
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06:37 |
WSFS WSFS Bank announces promotion of James J. Wechsler to Executive Vice President, Chief Commercial Banking Officer
(50.00 )
|
|
WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced that James (Jim) Wechsler has been named Executive Vice President, Chief Commercial Banking Officer, effective January 1, 2025. In his new role, Wechsler will join the Executive Leadership Team, reporting to Art Bacci, Executive Vice President and Chief Operating Officer and oversee Commercial & Industrial Banking, Commercial Real Estate, Treasury Management, Capital Markets and Equipment Finance. Wechsler will assume the role as Steve Clark steps into a new role of Senior Advisor focused on business development, relationship management, and leadership support as part of WSFS' succession planning. |
|
06:37 |
ITT ITT beats by $0.03, reports revs in-line; guides FY24 EPS in-line, revs in-line
(144.54 )
|
|
- Reports Q3 (Sep) earnings of $1.46 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $1.43; revenues rose 7.7% year/year to $885.2 mln vs the $884.5 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $5.80-5.86 vs. $5.84 FactSet Consensus; sees FY24 revs of +10-12% yr/yr to ~$3.61-3.68 bln vs. $3.63 bln FactSet Consensus. This is up from prior guidance of +9-12% yr/yr
|
|
06:35 |
EXP Eagle Materials misses by $0.36, misses on revs
(289.04 )
|
|
- Reports Q2 (Sep) earnings of $4.31 per share, excluding non-recurring items, $0.36 worse than the FactSet Consensus of $4.67; revenues rose 0.2% year/year to $623.62 mln vs the $651.46 mln FactSet Consensus.
|
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06:35 |
XRX Xerox misses by $0.26, misses on revs, lowers FY24 revenue, adjusted operating margin, and free cash flow guidance
(10.28 )
|
|
- Reports Q3 (Sep) earnings of $0.25 per share, excluding non-recurring items, $0.26 worse than the FactSet Consensus of $0.51; revenues fell 7.5% year/year to $1.53 bln vs the $1.63 bln FactSet Consensus.
- Lowers guidance, sees FY24 revenue declining around 10% in constant currency vs. prior guidance of down 5-6%; sees adjusted operating margin of around 5.0% vs. prior guidance of at least 6.5%. Free cash flow of $450-$500 mln, down from at least $550 mln.
- While equipment revenue fell short of expectations, we continue to see steady progress from Reinvention initiatives taken to date. Adjusted operating income and margin grew year-over-year, and the pending acquisition of ITsavvy will improve Xerox's value proposition with clients, as well as the mix of revenue from growing businesses," said Steve Bandrowczak, chief executive officer at Xerox.
|
|
06:34 |
COYA Coya Therapeutics announces that results from the placebo-controlled Phase 2 clinical trial of LD IL-2 in patients with mild to moderate Alzheimer's Disease were announced today at the 17th Clinical Trials on Alzheimer's Disease Conference
(10.19 )
|
|
- Study met Primary and Secondary Endpoints for Safety and
Regulatory T cell Cell Population Enhancement, respectively, with no
off-target effects on T effector lymphocytes, providing further evidence of
target engagement.
- Exploratory Endpoints demonstrated cognitive stabilization
on treatment vs. cognitive declines on placebo for LD IL-2 dosing every 4 weeks
(LD IL-2 q4wks), which was associated with significant improvement in cerebrospinal fluid soluble A42 levels and stabilized CSF Neurofilament Light Chain.
- Study supports and increases confidence in Treg modulation
strategies in neurodegenerative conditions and in advancing LD IL-2 q4wks and LD
IL-2 q4wks combination strategies (i.e.
COYA 302) in AD and other related diseases.
|
|
06:32 |
CLVT Clarivate: Silverchair has entered into a definitive agreement with Clarivate Plc to acquire ScholarOne
(6.54 )
|
|
- Silverchair, a portfolio company of Thompson Street Capital Partners.
- ScholarOne, a leading provider of software and services to scholarly publishers and societies.
- Terms of the transaction were not disclosed.
- The acquisition is expected to close
within the fourth quarter of 2024 subject to the satisfaction of
customary closing conditions.
|
|
06:26 |
CECO CECO Environ. misses by $0.06, misses on revs; lowers FY24 revs below consensus; guides FY25 revs above consensus; to acquire Profire Energy $125 mln cash
(26.31 )
|
|
- Reports Q3 (Sep) earnings of $0.14 per share, excluding non-recurring items, $0.06 worse than the FactSet Consensus of $0.20; revenues fell 9.3% year/year to $135.5 mln vs the $155.94 mln FactSet Consensus.
- Orders of $162.3 million, up 12 percent
- Backlog of $437.5 million.
- "While our third quarter produced very strong orders and a new record backlog, we were disappointed that we fell short of the anticipated quarterly revenue and income outlook as a handful of customer-driven delays in larger projects could not be overcome by continued progress with margin expansion and other actions. These delayed projects are expected to begin activity over the coming months and the impact is reflected in our updated full year 2024 and newly introduced full year 2025 outlook. We are excited to have been awarded several large energy transition and general industrial orders in the quarter and we anticipate this trend to continue as we are forecasting a very strong fourth quarter bookings period."
- Co issues downside guidance for FY24, sees FY24 revs of $575-600 mln vs. $606.86 mln FactSet Consensus and prior guidance $600-620 mln.
- Adjusted EBITDA between $65 to $70 million, up approximately 17 percent year over year, at the midpoint of the range.
- The Company expects 2024 full year bookings guidance to reflect a book to bill rate of or in excess of 1.2x, up from a previous range of 1.05x to 1.1x. The Company maintains its full year outlook for free cash flow of 50% to 70% of adjusted EBITDA.
- Co issues upside guidance for FY25, sees FY25 revs of $700-750 mln vs. $671.92 mln FactSet Consensus.
- Adjusted EBITDA between $90 and $100 million, up approximately 40% at the midpoint of the range.
- The Company expects full year free cash flow of between 50% to 70% of adjusted EBITDA.
- CECO today announced that in early October it completed the acquisition of Germany-based, WK -- a leading industrial air business with well-established global customers and a strong Asia-Pacific presence, based out of Singapore.
- Also announced that it will acquire Profire Energy for $125 million in all-cash transaction
|
|
06:13 |
EPD Enterprise Products misses by $0.01, reports revs in-line
(29.14 )
|
|
- Reports Q3 (Sep) earnings of $0.65 per share, excluding non-recurring items, $0.01 worse than the FactSet Consensus of $0.66; revenues rose 14.8% year/year to $13.78 bln vs the $13.87 bln FactSet Consensus.
|
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06:13 |
SCANX Early premarket gappers |
|
- Gapping up:
- VFC +22.1%,
LAC +11.8%,
FFIV +11.1%,
CWH +9.8%,
VEEA +8.2%,
NARI +7.9%,
CDNS +6.8%,
UCTT +5.6%,
CR +5.6%,
AGYS +5.4%,
HSBC +4.8%,
NWE +4.6%,
KRC +4.5%,
EHC +4.2%,
LDOS +3.7%,
TREX +3.2%,
DFH +3%,
PSO +2.2%,
SBAC +2.1%,
LTC +2.1%,
BRX +2.1%,
SAFE +2%,
KFRC +1.5%,
WELL +1.3%,
SKY +1.3%,
WM +1.2%,
QTRX +1%
- Gapping down:
- TMDX -26%,
CVI -25.3%,
HLIT -16.1%,
AMKR -10.8%,
VERA -6%,
F -5.9%,
EYPT -5.6%,
TRNS -5.3%,
BOOT -4.9%,
PRCT -4.4%,
NEE -4.1%,
RMBS -4%,
FLS -3.9%,
KDP -3.8%,
NVS -3.5%,
CCCS -3%,
QUAD -2.7%,
LEG -2.5%,
PCH -2.5%,
UFPI -2.4%,
BP -2.3%,
LEU -1.8%,
CHKP -1.7%,
SHYF -1.6%,
ESI -1.5%
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06:08 |
SWK Stanley Black & Decker beats by $0.17, misses on revs; guides FY24 EPS in-line
(102.92 )
|
|
- Reports Q3 (Sep) earnings of $1.22 per share, excluding non-recurring items, $0.17 better than the FactSet Consensus of $1.05; revenues fell 5.1% year/year to $3.75 bln vs the $3.8 bln FactSet Consensus.
- Co narrows guidance for FY24, sees EPS of $3.90 to $4.30 from $3.70 to $4.50, excluding non-recurring items, vs. $4.21 FactSet Consensus.
|
|
06:08 |
PFIE Profire Energy: CECO Environmental (CECO) to acquire Profire Energy for $125 mln
(1.71 )
|
|
- Co announced a definitive agreement where CECO will acquire Profire, in an all-cash transaction.
- Profire is a leader in burner management technology and combustion control systems that provide mission-critical combustion automation and control solutions and services to improve environmental efficiency, safety and reliability for industrial thermal applications globally. Profire estimates its 2024 sales to be greater than $60 million with adjusted EBITDA margins of approximately 20 percent.
- Under the terms of the agreement, a subsidiary of CECO (will commence a tender offer to acquire all issued and outstanding shares of Profire common stock at a price of $2.55 per share, in cash, without interest and subject to applicable withholding tax. The tender offer will initially remain open for 20 business days from the date of commencement of the tender offer, subject to extension under certain circumstances. The transaction, which has been unanimously approved by Profire's Board of Directors, implies an equity value of approximately $125 million and a total enterprise value for Profire of approximately $108 million.
- The tender offer is subject to customary closing conditions, including that at least a majority of the outstanding shares of Profire's common stock are tendered and not withdrawn in the tender offer and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
- The price represents a 46.5% premium over Profire's closing share price of $1.74 on October 25, 2024 and a premium of 60.3% to Profire's 30-day volume weighted average share price on October 25, 2024.
- Following a successful completion of the tender offer, including the satisfaction of certain customary conditions, CECO will acquire all remaining untendered shares of Profire common stock at the same price of $2.55 per share in cash through a merger of Merger Sub with Profire, with Profire continuing as the surviving corporation.
|
|
06:06 |
LDOS Leidos beats by $0.92, beats on revs; raises FY24 EPS above consensus, raises revs above consensus
(169.73 )
|
|
- Reports Q3 (Sep) earnings of $2.93 per share, excluding non-recurring items, $0.92 better than the FactSet Consensus of $2.01; revenues rose 6.9% year/year to $4.19 bln vs the $4.06 bln FactSet Consensus.
- Net bookings totaled $8.1 billion in the quarter, representing a book-to-bill ratio of 1.9. As a result, backlog at the end of the quarter was $40.6 billion, of which $9.1 billion was funded.
- Co issues upside guidance for FY24, sees EPS of $9.80-10.00, excluding non-recurring items, vs. $9.07 FactSet Consensus and prior guidance of $8.60-9.00; sees FY24 revs of $16.35-16.45 bln vs. $16.29 bln FactSet Consensus and prior guidance of $16.10-16.40 bln.
|
|
06:05 |
KDP Keurig Dr Pepper announces pricing of secondary offering of common stock by JAB
(33.86 )
|
|
- Co announced today the pricing of its previously-announced registered public offering of 60,000,000 shares through a secondary offering by a subsidiary of JAB Holding Company s.a.r.l. at a price to the public of $32.85 per share. JAB has also granted the underwriter a 30-day option to purchase up to an additional 9,000,000 shares.
- Following the completion of the offering, JAB will beneficially own approximately 16.5% of KDP's outstanding common stock, or approximately 15.8% assuming full exercise of the underwriter's option to purchase additional shares. The remaining shares beneficially owned by JAB will be subject to a 90-day lock-up agreement with the underwriter.
|
|
06:03 |
CHKP Check Point Software reports EPS in-line, revs in-line
(207.96 )
|
|
- Reports Q3 (Sep) earnings of $2.25 per share, excluding non-recurring items, in-line with the FactSet Consensus of $2.25; revenues rose 6.5% year/year to $635.1 mln vs the $634.96 mln FactSet Consensus.
|
|
06:03 |
AWI Armstrong World Industries beats by $0.06, reports revs in-line; guides FY24 EPS above consensus, revs in-line
(137.30 )
|
|
- Reports Q3 (Sep) earnings of $1.81 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $1.75; revenues rose 11.3% year/year to $386.6 mln vs the $386.69 mln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $6.15-6.25, excluding non-recurring items, vs. $6.09 FactSet Consensus; sees FY24 revs of $1.420-1.435 bln vs. $1.43 bln FactSet Consensus.
- Sees adjusted EBITDA $482-490 mln
|
|
06:00 |
SUMRX Overnight Summary -- US futures treading water |
|
- Global equity markets are generally perking up. S&P Futures are up about a point and trading around 5862. The market witnessed back-and-forth action, leaving the S&P about in the middle of the range that saw a high of 5869.50 and a low of 5850.25.
- In Asia, China slumped over 1%, while Japan jumped 0.8%. The Shanghai Composite suffered weakness following reports suggesting the Biden administration is finalizing curbs on US investments in Chinese advanced technology companies. In Japan, the Nikkei advanced despite a rebound in the yen. SoftBank paced the way for gains with a 3% advance on Tuesday.
- The major European bourses are broadly higher. Corporate earnings have stolen the headlines this morning. HSBC surged 4% following a third-quarter beat and buyback announcement. Adidas added 1% after its Q3 update and reaffirmed its outlook. BP eased back 1% following its third-quarter results. Novartis slid 3% despite a beat and raise.
Market Updates - S&P Futures vs Fair Value: +3.0
- 10 yr Note: 4.308%
- USD/JPY: 153.37 +0.09
- EUR/USD: 1.0827 +0.0012
- Europe: FTSE: +0.4% DAX: +0.5% CAC: +0.6%
- Asia: Hang Seng: +0.5% Shanghai: -1.1% Nikkei: +0.8%
- Gold (2766.70 +10.80) Silver (34.345 +0.344) Crude (67.72 +0.34)
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05:57 |
FXI Shanghai ... -1.1% |
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05:57 |
S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +22.00. |
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05:57 |
European Markets |
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FTSE...8321.53...+35.90...+0.40%. DAX...19624.75...+93.30...+0.50%. |
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05:57 |
Asian Markets |
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Nikkei...38903.68...+298.20...+0.80%. Hang Seng...20701.14...+101.80...+0.50%. |
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05:53 |
WIRES On The Wires |
|
- Jacobs (J) was appointed by Northern Ireland Water to a new professional services framework supporting water and wastewater capital improvements across the region. Northern Ireland Water provides water and sewerage services to approximately 840,000 households and businesses in Northern Ireland. The framework will support Northern Ireland Water with the remainder of its Business Plan -- a six-year investment program that includes significant upgrades to Northern Ireland Water's infrastructure for water and wastewater.
- CME Group (CME) announced its new Spodumene CIF China futures have launched and are available for trading. A total of 29 contracts traded on the first day, with participation from a number of firms including JA Commodities Ltd, Mitsubishi Corporation RTM International Pte Ltd, Wogen Resources Limited and Wooray Commodities Pte Ltd. The first trade was executed by Freight Investor Services Ltd.
- Under the presidency of His Majesty King Mohammed VI of Morocco and His Excellency Emmanuel Macron, President of the French Republic, the government of the Kingdom of Morocco and TE H2, along with its partners, signed a Preliminary Contract for Land Reservation for the 'Chbika' project. This agreement will allow TE H2, a joint venture between TotalEnergies (TTE) and the EREN Group, together with the two Danish companies, Copenhagen Infrastructure Partners (CIP), through its Energy Transition Fund, and A.P. Mller Capital, through its Emerging Markets Infrastructure Fund, to launch the pre-FEED studies.
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05:08 |
BP BP beats by $0.02, misses on revs; announces share buyback
(31.05 )
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- Reports Q3 (Sep) earnings of $0.83 per share, $0.02 better than the FactSet Consensus of $0.81; revenues fell 11.3% year/year to $47.25 bln vs the $52.05 bln FactSet Consensus.
- Underlying RC profit for the quarter was $2.3 billion, compared with $2.8 billion for the previous quarter. Compared with the second quarter 2024, the underlying result reflects weaker realized refining margins, a weak oil trading result and lower liquids realizations, partly offset by higher gas realizations. The gas marketing and trading result was average. The underlying effective tax rate in the quarter was 42%.
- Operating cash flow in the quarter was $6.8 billion. This includes a working capital* release of $1.4 billion (after adjusting for inventory holding losses, fair value accounting effects and other adjusting items), reflecting the unwind of a working capital build in the first quarter, impact of the price environment and timing of various payments (see page 28). Net debt increased to $24.3 billion compared to the second quarter, primarily driven by lower operating cash flow, higher capital expenditures and lower divestment and other proceeds.
- Additionally, co announced a further $1.75 billion share buyback program to be executed by the time of our fourth quarter results
- Outlook
- Q4
- Co expects upstream production to be lower compared with the third quarter.
- In customers, co expects seasonally lower volumes and fuels margins to remain sensitive to movements in the cost of supply.
- In products, co expects realized refining margins to remain low, and to continue to remain sensitive to relative movements in product cracks.
- FY24
- Co now expects the annual charge in other businesses and corporate to be in the range of $0.3 to 0.4 billion.
- As for divestments and other proceeds, co now expects that to be greater than $3 billion and that is above our previous guidance.
- All other full-year guidance remains unchanged.
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05:00 |
PBR Petrobras reports Q3 production
(13.79 )
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- In 3Q24, Petrobras' total production of oil, NGL and natural gas reached 2,689 Mboed, in line with 2Q24.
- The highlights were the production peak of FPSO Sepetiba, in the Mero field, with the start-up of 3 new producing wells, and the start-up of new wells in Bzios and Tupi fields' projects.
- In 3Q24, production and sales of oil products on the domestic market increased by 4.2% when compared to 2Q24, driven by the seasonal increase in demand.
- In September 2024, among refining facilities, co had the best monthly utilization factor in the year, reaching 97%, which reflects our high level of operational efficiency and the close integration with the company's logistics and marketing areas.
- This resulted in total production of 1,818 Mbpd, prioritizing high value-added products (diesel, gasoline and QAV accounted for 68% of total production), even with the maintenance stoppages carried out at REPLAN, REDUC, RPBC and REVAP during the quarter.
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04:57 |
WIRES On The Wires |
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- InterDigital, Inc. (IDCC) announced that it has signed a new license agreement with OPPO Group. The agreement covers OPPO, realme and OnePlus branded mobile devices worldwide. As part of the agreement, both parties have agreed to dismiss all pending litigations between them.
- TotalEnergies (TTE) announced that the Harald East Middle Jurassic nearby exploration well has discovered additional gas condensate resources in the Harald field, in the Danish North Sea. Located in shallow waters, 250 km off the west coast of Denmark, the HEMJ-1X well was drilled in the Eastern part of Harald field and encountered 48 meters of net gas condensate pay in a good quality reservoir. The HEMJ-1X well will be immediately connected to the Harald platform and is expected to start producing before the end of the year through the existing Harald and Tyra facilities.
- FinVolution Group (FINV) announced that its Indonesian financial application, AdaKami, has entered into a strategic funding agreement with PT Super Bank Indonesia, a leading digital-focused bank in Indonesia. Under the terms of the agreement, Superbank will provide AdaKami with a funding facility of 500.0 billion Rupiah (~$32.0 million). This funding arrangement highlights AdaKami's recognition by a leading local bank following its successful transition to serving better-quality borrowers. With this agreement, Superbank will become AdaKami's strong funding partner in Indonesia, validating Adakami's successful strategy of transition to better-quality borrowers. Currently, AdaKami has established cooperation with multiple lenders including Superbank, Seabank, Bank Jago, Bank Permata, OCBC NISP among others.
- Ericsson (ERIC) and MasOrange, Spain's largest communications service provider by customer base, are embarking on a major five-year Open RAN-ready future-network partnership that will put the Spanish operator at the forefront of Europe's open and programmable networks. Under the deal, Ericsson will integrate Orange Spain's and MASMOVIL's existing networks. This will include supporting the consolidated MasOrange network through high-performing and sustainable network solutions designed for an increasingly open architecture. This approach enables greater flexibility, scalability, and innovation in network operations and service delivery.
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04:50 |
WIRES On The Wires |
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- Fomento Econmico Mexicano, S.A.B. de C.V. (FMX) announced it has reached a definitive agreement with AMMI, a leading holding company focused in the production of non-GMO corn and sustainable plastic packaging, affiliate of Milenio Capital, to divest FEMSA's plastics solutions operations, for a total amount of $3,165 million pesos, on a cash-free, debt-free basis.
- DuPont (DD) and Zhen Ding Technology Group announced they have entered into a strategic cooperation agreement in advanced printed circuit board technology. The signing ceremony, held yesterday at the Shenzhen Avary Time Center, was attended by Charles Shen, Chairman, Zhen Ding; Yi Zhang, President of the Asia Pacific Region, DuPont; and Thean Ming Tan, Global Business Director for Laminates, DuPont. Through this strategic partnership, DuPont and Zhen Ding will work to enhance end-user applications, advance cutting-edge research and development, improve material performance, and promote the sustainable development of the electronics sector. Furthermore, they intend to deepen their cooperation in advancing smart manufacturing, corporate governance, and sustainability initiatives.
- WTW, (WTW) announced the expansion of its Corporate Risk & Broking business in Japan with the launch of an insurance brokerage service. The new service will offer insurance solutions to commercial clients, as well as wholesale facultative reinsurance placement services to partner brokers or agencies in Japan under the entity, WTW Broker Japan Co., Ltd.
- Aquis Exchange PLC, a creator and facilitator of next-generation
financial markets, and Cboe Europe (CBOE), a division of Cboe Global Markets,
Inc., the world's leading derivatives and securities exchange network, are today
pleased to announce their intention to form a joint venture which plans to explore a bid to
perform the role of the EU's equity consolidated tape provider. The
selection process for the EU equity CT is expected to begin in June 2025, with a
successful applicant chosen by the end of 2025.
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04:43 |
NVS Novartis AG beats by $0.12, reports revs in-line; raises FY24 outlook
(115.63 )
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- Reports Q3 (Sep) earnings of $2.06 per share, $0.12 better than the FactSet Consensus of $1.94; revenues rose 8.8% year/year to $12.82 bln vs the $12.79 bln FactSet Consensus.
- Sales growth driven by continued strong performance
from Entresto (+26% cc), Cosentyx (+28% cc), Kisqali
(+43% cc), Kesimpta (+28% cc), Pluvicto (+50% cc) and Leqvio (+119% cc)
- Core operating income margin 40.1%, +340 basis points
(cc), mainly driven by higher net
sales
- Full-year 2024 guidance raised
- Net sales expected to grow low double-digit (from high single to low double-digit)
- Core operating income expected to grow high teens (from mid to high teens)
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04:36 |
BA Boeing prices upsized offerings of common stock and depositary shares
(150.69 )
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- Co prices its previously announced separate underwritten public offerings of (i) 112,500,000 shares of common stock, par value $5.00 per share, of the Company at a public offering price of $143.00 per share and (ii) $5 billion of depositary shares, each representing a 1/20th interest in a share of newly issued 6.00% Series A Mandatory Convertible Preferred Stock, par value $1.00 per share at a public offering price of $50.00 per Depositary Share.
- Boeing has granted the underwriters in each respective offering a 30-day option to purchase up to an additional (i) 16,875,000 shares of Common Stock and (ii) $750 million of Depositary Shares, solely to cover over-allotments, if any, in each case at the public offering price less the applicable underwriting discount. The Common Stock Offering is expected to close on October 30, 2024 and the Depositary Shares Offering is expected to close on October 31, 2024, subject to customary closing conditions.
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04:29 |
NWE NorthWestern misses by $0.03, misses on revs; lowers FY24 EPS in-line
(55.34 )
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- Reports Q3 (Sep) earnings of $0.65 per share, $0.03 worse than the FactSet Consensus of $0.68; revenues rose 7.5% year/year to $345.2 mln vs the $350.17 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees EPS of $3.32-3.47 vs. $3.45 FactSet Consensus. This is down from prior guidance of $3.42-3.62
- Co is also affirming long-term (5 year) diluted earnings per share growth guidance of 4% to 6% from a 2022 base year of $3.18 diluted earnings per share on a non-GAAP basis. Co expects rate base growth of 4% to 6%. Co's current
capital investment program is sized to provide for no equity issuances. Future
generation capacity additions or other strategic opportunities may require equity financing.
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04:14 |
PLOW Douglas Dynamics beats by $0.03, misses on revs; lowers FY24 EPS in-line, revs below consensus
(26.06 )
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- Reports Q3 (Sep) earnings of $0.24 per share, $0.03 better than the FactSet Consensus of $0.21; revenues fell 10.2% year/year to $129.4 mln vs the $141.2 mln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $1.20-1.60 vs. $1.55 FactSet Consensus and down from prior guidance of $1.20-1.70; sees FY24 revs of $570-600 mln vs. $605.47 mln FactSet Consensus. This is down from prior guidance of $600-640 mln
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04:10 |
VERA Vera Therapeutics proposes offering to issue and sell $300.0 million of shares of its Class A common stock
(47.34 )
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04:06 |
QGEN Qiagen receives FDA clearance for QIAstat-Dx mini panel
(41.80 )
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- QIAGEN announced that the FDA has cleared the QIAstat-Dx Respiratory Panel Mini test for clinical use. It is the third test to receive FDA clearance for use with QIAstat-Dx systems in 2024.
- The QIAstat-Dx Respiratory Panel Mini is designed to support clinical decision making in diagnosing upper respiratory infections in outpatient settings and covers five common viral causes of illness: influenza A, influenza B, human rhinovirus, respiratory syncytial virus (RSV) and SARS-CoV-2.
- The QIAstat-Dx Respiratory Panel Mini is the second QIAstat-Dx respiratory panel to receive FDA clearance this year.
- After its launch in Europe in spring 2024, the QIAstat-Dx Analyzer 2.0 is now also available in
the U.S. for use with the
QIAstat-Dx Respiratory Panel Plus and the QIAstat-Dx Gastrointestinal Panel 2.
An extension for use with the QIAstat-Dx Respiratory Panel Mini is already
planned.
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17:32 |
VERA Vera Therapeutics files mixed shelf securities offering
(47.34 +6.25)
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17:31 |
KDP Keurig Dr Pepper: subsidiary of JAB Holding Company s.a.r.l. will sell an aggregate of 60,000,000 shares of KDP common stock through a proposed registered public offering
(33.86 -0.72)
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- Following the completion of the offering, JAB will beneficially own approximately 16.5% of KDP's outstanding common stock, or approximately 15.8% assuming full exercise of the underwriter's option to purchase additional shares. The remaining shares beneficially owned by JAB will be subject to a 90-day lock-up agreement with the underwriter.
- Additionally, to fill the vacancy on the KDP Board of Directors left by JAB Partner Lubomira Rochet, who notified the Company of her immediate resignation, the Board has appointed Frank Engelen, Managing Partner and CFO of JAB, as a director. Mr. Engelen will serve for an initial term expiring at the Company's 2025 annual meeting of stockholders.
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17:24 |
WM Waste Mgmt beats by $0.07, beats on revs; on track to achieve high end of FY24 FCF guidance
(208.32 +1.53)
|
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- Reports Q3 (Sep) earnings of $1.96 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $1.89; revenues rose 7.9% year/year to $5.61 bln vs the $5.51 bln FactSet Consensus.
- Co says strong operating cash flow growth combined with disciplined capital spending led to a 20.0% increase in free cash flow on a year-to-date basis.
- These results put co on track to achieve the high end of its guidance of $2.15 bln in free cash flow in 2024.
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17:23 |
DFH Dream Finders Homes acquires Alliant National Title Insurance Company; financial details not disclosed
(32.21 +0.20)
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17:20 |
EYPT EyePoint Pharmaceuticals announces proposed public offering of $100 mln of common stock
(12.12 +2.62)
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EyePoint intends to use the net proceeds that it will receive from the offering to advance clinical development of DURAVYU for wet age related macular degeneration and diabetic macular edema , as well as support its earlier stage pipeline development initiatives, and for general corporate purposes. |
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17:16 |
LMT Lockheed Martin: Sikorsky awarded $1.24 bln U.S. Army contract modification
(555.17 -7.12)
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17:06 |
WES Western Midstream names Oscar Brown as CEO; reaffirms FY24 guidance
(38.00 -0.48)
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- Co announces that Oscar Brown, an independent director of Western Midstream Holdings, LLC, WES's general partner, has been appointed President and CEO of the General Partner, effective immediately.
- The Board of Directors of the General Partner and Michael Ure agreed that he will step down from his position, including as Director. To ensure a smooth transition, Mr. Ure will continue as an advisor to the CEO until the end of the year.
- Co says Brown is a seasoned executive who has been a deeply involved member of the Board since 2019. He possesses extensive knowledge of the Partnership's strategy, mission and vision.
- Co also reaffirms FY24 guidance for Adjusted EBITDA and Free Cash Flow at $2.2-2.4 bln and $1.05-1.25 bln, respectively, and continues to expect 2024 results to be toward the high end of these ranges.
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17:02 |
BRO Brown & Brown beats by $0.03, beats on revs
(103.35 -0.63)
|
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- Reports Q3 (Sep) earnings of $0.91 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $0.88; revenues rose 11.0% year/year to $1.19 bln vs the $1.16 bln FactSet Consensus.
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16:53 |
JNJ Johnson & Johnson: European Commission approves expanded use of HIV-1 therapy EDURANT in younger patients
(161.60 +0.72)
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Release |
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16:50 |
NMFC New Mountain Finance extends its stock repurchase program, the Company can repurchase up to $50 million worth of its common stock at the discretion of NMFC's management team
(11.44 -0.11)
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16:50 |
ALSN Allison Transmission partners with Ashok Leyland to introduce low-floor city buses
(99.85 +1.36)
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- Allison Transmission and Ashok Leyland, the Indian flagship of the Hinduja Group and one of the country's leading commercial vehicle manufacturers, have collaborated to introduce the first low-floor city buses equipped with fully automatic transmissions in India's southern state of Tamil Nadu.
- The Allison-equipped buses will operate routes in major cities including Chennai, Madurai and Coimbatore, along with other major cities in Tamil Nadu.
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16:48 |
TFII TFI International announces renewal of NCIB; may repurchase a maximum of 10% of its public float
(136.15 +2.33)
|
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- The shares may be purchased through the facilities of the TSX and the New York Stock Exchange and on alternative trading systems in Canada and the United States over the twelve-month period from November 2, 2024 to November 1, 2025.
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16:44 |
JKHY Jack Henry: Deconversion revenue for Q1 (Sep) was $3.7 mln, deconversion revenue estimates remain at $16 mln for FY25 guidance
(183.57 +1.13)
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16:38 |
NARI Inari misses by $0.19, beats on revs; guides FY24 revs above consensus
(42.56 -1.14)
|
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- Reports Q3 (Sep) loss of $0.31 per share, $0.19 worse than the FactSet Consensus of ($0.12); revenues rose 21.4% year/year to $153.4 mln vs the $150.69 mln FactSet Consensus.
- The company continues to expect to reach sustained operating profitability in the first half of 2025.
- Co issues upside guidance for FY24, sees FY24 revs of $601.5-604.5 mln vs. $600.20 mln FactSet Consensus and prior guidance of $594.5-604.5 mln.
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16:36 |
WRAPX Closing Stock Market Summary |
|
The equity market closed with gains in major indices. The S&P 500 and Nasdaq Composite each closed 0.3% higher than Friday, the Dow Jones Industrial Average gained 0.7%, and the Russell 2000 jumped 1.6%. Many stocks participated in upside moves following last week's index-level declines. Advancers led decliners by a roughly 2-to-1 margin at the NYSE and at the Nasdaq. The upside bias was in front of a busy week in terms of earnings news. Gains in some influential names that also report earnings this week were a support factor for the major indices today. Alphabet (GOOG 168.34, +1.35, +0.8%), which reports on Tuesday, Meta Platforms (META 578.16, +4.91, +0.9%), which reports on Wednesday, and Apple (AAPL 233.40, +1.99, +0.9%) and Amazon.com (AMZN 188.39, +0.56, +0.3%), which report on Thursday are standouts in that respect. Microsoft (MSFT 426.59, -1.56, -0.4%) also reports results on Wednesday, but closed lower today. This price action, along with losses in NVIDIA (NVDA 140.52, -1.02, -0.7%) and Broadcom (AVGO 172.02, -0.98, -0.6%), led the information technology sector to close 0.1% lower. The only other sector to close with a loss was energy (-0.7%), which reacted to dropping oil prices. WTI crude oil futures slid 6.1% to $67.39/bbl after Israel's retaliation against Iran was limited to military targets, sparing oil and nuclear facilities. Stocks maintained an upside bias through the entire session despite rising Treasury yields. The 2-yr yield settled four basis points higher at 4.14% lower and the 10-yr yield settled five basis points higher at 4.28%. This followed a $69 bln 2-yr note auction, which met poor demand, and a $70 bln 5-yr note sale priced worse than expected, but featured decent internals. - Nasdaq Composite: +23.7% YTD
- S&P 500: +22.1% YTD
- Dow Jones Industrial Average: +12.5% YTD
- S&P Midcap 400: +12.9% YTD
- Russell 2000: +10.7% YTD
There was no US economic data of note today. Tuesday's economic lineup features:
- 9:00 ET: August FHFA Housing Price Index, August S&P Case-Shiller Home Price Index
- 10:00 ET: October Consumer Confidence, September JOLTS - Job Openings
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16:34 |
LAC Lithium Americas closes $2.26 billion U.S. DOE ATVM loan
(4.14 +0.46)
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Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce the closing of a $2.26 billion loan from the U.S. Department of Energy's ("DOE") Loan Programs Office ("LPO") under the Advanced Technology Vehicles Manufacturing ("ATVM") Loan Program (the "DOELoan") for financing the construction of the processing facilities at Thacker Pass, located in Humboldt County, Nevada ("Thacker Pass" or the "Project"). |
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16:33 |
SCANX Notable earnings/guidance movers: VFC +12.8%, FFIV +10.1%, HLIT +8% on upside; TMDX -28.5%, BOOT -10.8%, F -5% on downside |
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- Earnings/guidance gainers: VFC +12.8%,
FFIV +10.1%,
HLIT +8%,
CWH +7.5%,
CDNS +6.6%,
BRX +6.5%,
AGYS +6.1%,
TREX +4.9%,
UCTT +4.9%,
ESI +3.3%,
CR +3%,
LTC +2.2%,
KRC +2.1%,
WELL +1.9%,
SKY +1.8%,
SBAC +1.3%
- Earnings/guidance losers: TMDX -28.5%,
BOOT -10.8%,
AMKR -10.3%,
LEG -7.1%,
F -5%,
FLS -5%,
CALX -4.2%,
TRNS -3.8%,
PCH -2.5%,
RMBS -1.9%,
CCCS -1.4%,
REG -1.3%
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16:33 |
AESI Atlas Energy Solutions reports Q3 (Sep) results, misses on revs; Board increases dividend and authorizes stock repurchase program up to $200 mln
(20.02 -0.01)
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- Reports Q3 (Sep) earnings of $0.04 per share, may not be comparable to the FactSet Consensus of $0.29; revenues rose 93.1% year/year to $304.4 mln vs the $307.93 mln FactSet Consensus.
- On October 24, 2024, the Board of Directors of Atlas declared an increased dividend to common stockholders of $0.24 per share, or approximately $26.5 million in aggregate to shareholders. The dividend will be payable on November 14, 2024 to shareholders of record at the close of business on November 7, 2024.
- Subsequent to quarter end, the Board of Directors of Atlas authorized a share repurchase program under which the Company may repurchase up to $200 million of outstanding stock through December 31, 2026.
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16:31 |
CSCO Cisco unveils new cisco 360 partner program to accelerate value and innovation, launching in 2026
(55.28 -0.46)
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LOS ANGELES
, Oct. 28, 2024 /PRNewswire/ -- CISCO PARTNER SUMMIT -- Cisco (NASDAQ: CSCO), the worldwide leader in networking and security, today announced the most significant evolution of its industry-leading partner program in nearly three decades. The new Cisco 360 Partner Program is designed to accelerate the value partners bring to customers by better addressing their rapidly evolving and complex needs- modernizing infrastructure, powering AI workloads anywhere, and keeping customers' organizations secure, resilient, and high-performing. Developed in collaboration with partners and customers, Cisco will guide them through a 15-month transition period leading up to the program's launch in February 2026. |
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16:31 |
EHC Encompass Health beats by $0.09, beats on revs; guides FY24 EPS in-line, revs above consensus
(93.09 -0.37)
|
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- Reports Q3 (Sep) earnings of $1.03 per share, excluding non-recurring items, $0.09 better than the FactSet Consensus of $0.94; revenues rose 11.9% year/year to $1.35 bln vs the $1.33 bln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $4.19-$4.33, excluding non-recurring items, (from prior $3.97-$4.22) vs. $4.19 FactSet Consensus; sees FY24 revs of $5.325-$5.375 bln (from prior $5.275-$5.350 bln) vs. $5.32 bln FactSet Consensus.
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16:31 |
FDS FactSet has agreed to acquire Irwin
(459.29 +4.35)
|
|
- Irwin, an investor relations and capital markets solution for innovative public
companies and their advisors.
- The acquisition builds on
a recent successful partnership that integrates Irwin's award-winning
investor relations CRM with the FactSet Workstation to equip IR
professionals with a unified solution to manage investor engagement, conduct
research, and streamline corporate access on a single platform.
- This acquisition
represents FactSet's commitment to expand
its offerings for IR and corporate professionals, aligned with the Company's
strategy to provide comprehensive solutions across the financial services
industry. The transaction is expected to close during FactSet's first quarter fiscal 2025 and is not expected to have a
material impact on FactSet's fiscal 2025 results.
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16:29 |
CDP COPT Defense Properties beats by $0.01, beats on revs; ups low end of FY24 FFO guidance
(32.56 +0.27)
|
|
- Reports Q3 (Sep) funds from operations of $0.65 per share, $0.01 better than the FactSet Consensus of $0.64; revenues rose 12.3% year/year to $189.23 mln vs the $167.37 mln FactSet Consensus.
- Co issues in-line guidance for FY24, sees FFO of $2.56-$2.58 (from prior $2.54-$2.58) vs. $2.56 FactSet Consensus.
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16:28 |
SKY Skyline Champion beats by $0.18, beats on revs; refreshes repurchase authorization to provide for $100 mln of potential future buybacks
(90.85 +2.72)
|
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- Reports Q2 (Sep) earnings of $0.93 per share, $0.18 better than the FactSet Consensus of $0.75; revenues rose 32.9% year/year to $616.88 mln vs the $600.52 mln FactSet Consensus.
- The Board of Directors refreshed the share repurchase
authorization to provide for $100 million of
potential future repurchases.
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16:26 |
CR Crane beats by $0.06, reports revs in-line; guides FY24 EPS in-line, reaffirms FY24 revs guidance
(152.39 +3.33)
|
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- Reports Q3 (Sep) earnings of $1.38 per share, excluding non-recurring items, $0.06 better than the FactSet Consensus of $1.32; revenues rose 12.7% year/year to $597.2 mln vs the $594.45 mln FactSet Consensus.
- Co issues guidance for FY24, sees EPS of $5.05-$5.20, excluding non-recurring items, vs. $5.10 FactSet Consensus; sees FY24 revs growth of approx. 11% which equates to about $2.31 bln vs. $2.33 bln FactSet Consensus.
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16:25 |
ESI Element Solutions beats by $0.01, beats on revs
(26.67 -0.30)
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- Reports Q3 (Sep) earnings of $0.39 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.38; revenues rose 7.6% year/year to $645 mln vs the $626.52 mln FactSet Consensus.
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16:24 |
BOOT Boot Barn Holdings misses by $0.01, reports revs in-line, same store sales increased 4.9%; guides Q3 EPS below consensus, revs in-line
(161.22 +3.22)
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- Reports Q2 (Sep) earnings of $0.95 per share, $0.01 worse than the FactSet Consensus of $0.96; revenues rose 13.7% year/year to $425.8 mln vs the $424.42 mln FactSet Consensus.
- Same store sales increased 4.9% compared to the prior-year period, comprised of an increase of 4.3% in retail store same store sales and an increase of 10.1% in e-commerce same store sales.
- Co issues guidance for Q3, sees EPS of $1.96-$2.07 vs. $2.11 FactSet Consensus; sees Q3 revs of $582-$595 mln vs. $589.32 mln FactSet Consensus. Sees Same store sales growth of approximately 3.5% to 6.0%, with retail store same store sales growth of approximately 3.0% to 5.0% and e-commerce same store sales growth of approximately 7.5% to 10.0%.
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16:24 |
LEG Leggett & Platt misses by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs in-line; lowers FY24 EPS below consensus, revs in-line
(12.17 0.00)
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- Reports Q3 (Sep) earnings of $0.32 per share, excluding non-recurring items, $0.01 worse than the FactSet Consensus of $0.33; revenues fell 6.3% year/year to $1.1 bln vs the $1.1 bln FactSet Consensus.
- "We expect weak demand in our residential end markets to persist into the fourth quarter due to a more challenging macro environment and softening in consumer spending. Additionally, our Automotive business continues to face headwinds from varying impacts of the transition to electric vehicles, consumer affordability issues, and economic softness in Europe. As a result, we are reducing our sales and EPS guidance.
- Co issues guidance for Q4, sees EPS of $0.16-0.26, excluding non-recurring items, vs. $0.29 FactSet Consensus; sees Q4 revs of $0.973-1.073 bln vs. $1.07 bln FactSet Consensus.
- Full year 2024 sales and EPS guidance lowered as demand is weaker than previously anticipated, particularly within our Specialized Products and Furniture, Flooring & Textile Products segments. Co issues guidance for FY24, sees EPS of $1.00-1.10, excluding non-recurring items, vs. $1.14 FactSet Consensus; sees FY24 revs of $4.3-4.4 bln vs. $4.4 bln FactSet Consensus and prior guidance of $4.3-4.5 bln.
- Volume is expected to be down mid-single digits (vs prior guidance of down low to mid-single digits).
- 2024 EBIT margin is expected to be (9.3%)--(10.2%); adjusted EBIT margin is expected to be 6.0%--6.4%.
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16:23 |
WELL Welltower beats by $0.07, beats on revs; raises FY24 FFO guidance
(130.57 +0.37)
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- Reports Q3 (Sep) funds from operations of $1.11 per share, excluding non-recurring items, $0.07 better than the FactSet Consensus of $1.04; revenues rose 23.7% year/year to $2.06 bln vs the $1.95 bln FactSet Consensus.
- Co issues upside guidance for FY24, sees FFO of $4.27-$4.33, excluding non-recurring items, (from prior $4.13-$4.21) vs. $4.19 FactSet Consensus.
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16:22 |
KRC Kilroy Realty beats by $0.12, beats on revs; guides FY24 FFO above consensus
(41.62 +0.20)
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- Reports Q3 (Sep) funds from operations of $1.17 per share, $0.12 better than the FactSet Consensus of $1.05; revenues rose 2.2% year/year to $289.94 mln vs the $275.77 mln FactSet Consensus.
- Stabilized portfolio was 84.3% occupied and 85.8% leased at September 30, 2024.
- Co issues upside guidance for FY24, sees FFO of $4.38-4.44, up from $4.21-4.31, vs. $4.28 FactSet Consensus.
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16:22 |
PRCT PROCEPT BioRobotics announces proposed offering of $175 mln of common stock
(91.00 +22.23)
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PROCEPT BioRobotics will not receive any proceeds from any sale of shares by the selling stockholder. |
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16:21 |
SAFE Safehold reports EPS in-line, beats on revs
(23.52 +0.51)
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- Reports Q3 (Sep) earnings of $0.37 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.37; revenues rose 6.0% year/year to $90.7 mln vs the $89.45 mln FactSet Consensus.
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16:21 |
CALX Calix Networks beats by $0.04, reports revs in-line; guides Q4 EPS in-line, revs in-line
(39.47 +1.45)
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- Reports Q3 (Sep) earnings of $0.13 per share, excluding non-recurring items, $0.04 better than the FactSet Consensus of $0.09; revenues fell 23.8% year/year to $200.95 mln vs the $201.06 mln FactSet Consensus.
- Co issues in-line guidance for Q4, sees EPS of $0.04-0.10, excluding non-recurring items, vs. $0.09 FactSet Consensus; sees Q4 revs of $201-207 mln vs. $203.82 mln FactSet Consensus.
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16:20 |
CWH Camping World beats by $0.08, beats on revs
(21.41 +0.34)
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- Reports Q3 (Sep) earnings of $0.17 per share, excluding non-recurring items, $0.08 better than the FactSet Consensus of $0.09; revenues fell 0.3% year/year to $1.73 bln vs the $1.64 bln FactSet Consensus.
- New vehicle revenue was $824.9 million for the third quarter, an increase of $145.7 million, or 21.5%, and new vehicle unit sales were 19,943 units, an increase of 4,738 units, or 31.2%. Used vehicle revenue was $447.2 million for the third quarter, a decrease of $143.0 million, or 24.2%, and used vehicle unit sales were 14,065 units, a decrease of 3,060 units, or 17.9%.
- Same store new vehicle unit sales increased 28.8% for the third quarter and same store used vehicle unit sales decreased 20.5%. Combined same store new and used vehicle unit sales increased 2.3%.
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16:20 |
HESM Hess Midstream Partners increases quarterly cash distribution to $0.6846/share from $0.6677/share
(34.89 -0.58)
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16:19 |
UCTT Ultra Clean Holdings beats by $0.02, beats on revs; guides Q4 EPS in-line, revs above consensus
(35.05 -0.54)
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- Reports Q3 (Sep) earnings of $0.35 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.33; revenues rose 24.2% year/year to $540.4 mln vs the $515.88 mln FactSet Consensus.
- Co issues guidance for Q4, sees EPS of $0.34-$0.54, excluding non-recurring items, vs. $0.43 FactSet Consensus; sees Q4 revs of $535-$585 mln vs. $531.01 mln FactSet Consensus.
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16:19 |
SHYF The Shyft Group expands Blue Arc EV network through strategic partnerships with allegiance trucks and ascendance truck centers
(12.90 +0.65)
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16:18 |
TRNS Transcat misses by $0.05, misses on revs
(119.51 -0.25)
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- Reports Q2 (Sep) earnings of $0.52 per share, excluding non-recurring items, $0.05 worse than the FactSet Consensus of $0.57; revenues rose 8.0% year/year to $67.83 mln vs the $70.3 mln FactSet Consensus.
- Co added, "We are very proud of the consistent results the Transcat team has delivered year in and year out over an extended period of time. That said, we are disappointed with the Nexa-impacted aggregated results in fiscal Q2. We experienced short term, isolated revenue challenges in the Nexa services channel in the quarter but believe the swift actions our exceptional team is already taking will rectify the situation in the near term, as we continue to execute on our highly successful core growth strategy. We expect FY25 organic Service revenue growth in the mid-single digits when normalized for the extra week in fiscal 2024 and gross margin expansion. We anticipate a return to high single digit organic growth by the first half of fiscal 2026."
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16:18 |
AGYS Agilysys beats by $0.04, beats on revs; raises FY25 revs above consensus
(111.49 +1.30)
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- Reports Q2 (Sep) earnings of $0.34 per share, excluding non-recurring items, $0.04 better than the FactSet Consensus of $0.30; revenues rose 16.6% year/year to $68.3 mln vs the $67.54 mln FactSet Consensus.
- Co issues upside guidance for FY25, sees FY25 revs of $280-285 mln vs. $277.26 mln FactSet Consensus and prior guidance of $275 mln, including at least 38% year-over-year subscription revenue growth.
- We expect full year fiscal 2025 Adjusted EBITDA to be 18% of revenue, higher than our previous guidance of 16%
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16:18 |
UFPI UFP Industries misses by $0.25, misses on revs
(131.57 +1.40)
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- Reports Q3 (Sep) earnings of $1.64 per share, $0.25 worse than the FactSet Consensus of $1.89; revenues fell 9.8% year/year to $1.65 bln vs the $1.76 bln FactSet Consensus.
- Adjusted EBITDA1 of $165 million represents a decrease of 21 percent while adjusted EBITDA margin1 declined 140 basis points to 10.0 percent.
- Short-Term Outlook: We continue to anticipate lumber prices will remain at lower levels in 2024 based on current supply and demand dynamics. Recent industry production curtailments combined with new demand from rebuilding after storm damage may better align supply and demand in 2025.
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16:17 |
NEE NextEra Energy announces that it intends to sell $1.5 billion of equity units
(82.87 +1.44)
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- The net proceeds from the sale of the equity units, which are expected to be approximately $1.45 billion (after deducting the underwriting discount and other offering expenses), will be added to the general funds of NextEra Energy Capital Holdings.
- NextEra Energy Capital Holdings expects to use its general funds to fund investments in energy and power projects and for other general corporate purposes, including the repayment of a portion of its outstanding commercial paper obligations.
- Upon settlement of the purchase contract, NextEra Energy will receive cash and will issue the requisite number of shares of its common stock.
- Before the issuance of NextEra Energy common stock upon settlement of the purchase contracts, the purchase contracts will be reflected in NextEra Energy's diluted earnings per share calculations using the treasury stock method.
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16:17 |
TMDX TransMedics Group misses by $0.17, misses on revs; reaffirms FY24 revs guidance
(126.24 +1.07)
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- Reports Q3 (Sep) earnings of $0.12 per share, $0.17 worse than the FactSet Consensus of $0.29; revenues rose 63.7% year/year to $108.76 mln vs the $115 mln FactSet Consensus.
- "We are proud of our performance year to date and look forward to ending 2024 on a strong note," said Waleed Hassanein, MD, President and Chief Executive Officer. "We continued to make meaningful progress across each of our growth initiatives through the third quarter and maintain our conviction in our growth runway for 2025 and beyond. Overall, we remain well on track to reach our stated target of achieving 10,000 OCS transplant cases per year in the U.S. by 2028."
- Co reaffirms guidance for FY24, sees FY24 revs of $425-$445 mln vs. $444.35 mln FactSet Consensus.
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16:16 |
ET Energy Transfer increases quarterly cash distribution to $0.3225/share from $0.32/share
(164.0 -0.05)
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16:16 |
TREX Trex beats by $0.05, beats on revs; reaffirms FY24 revs guidance
(66.51 +2.19)
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- Reports Q3 (Sep) earnings of $0.37 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $0.32; revenues fell 23.1% year/year to $233.72 mln vs the $225.42 mln FactSet Consensus.
- Co reaffirms guidance for FY24, sees FY24 revs of $1.13-1.15 bln vs. $1.14 bln FactSet Consensus.
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16:16 |
HLIT Harmonic beats by $0.05, beats on revs; guides Q4 EPS in-line; guides FY24 EPS above consensus
(14.82 +0.04)
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- Reports Q3 (Sep) earnings of $0.26 per share, $0.05 better than the FactSet Consensus of $0.21; revenues rose 53.9% year/year to $195.8 mln vs the $181.77 mln FactSet Consensus.
- Broadband segment revenue: $145.3 million, compared to $75.8 million in the prior year period.
- Video segment revenue: $50.4 million, compared to $51.4 million in the prior year period.
- Co issues in-line guidance for Q4, sees EPS of $0.33-$0.39, excluding non-recurring items, vs. $0.35 FactSet Consensus.
- Co issues upside guidance for FY24, sees EPS of $0.67-$0.73, excluding non-recurring items, vs. $0.65 FactSet Consensus.
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16:15 |
CCCS CCC Intelligent Solutions beats by $0.01, reports revs in-line; guides Q4 revs in-line
(10.95 -0.05)
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- Reports Q3 (Sep) earnings of $0.10 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.09; revenues rose 7.8% year/year to $238.48 mln vs the $237.41 mln FactSet Consensus.
- Co issues in-line guidance for Q4, sees Q4 revs of $242.5-$246.5 mln vs. $246.24 mln FactSet Consensus.
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16:15 |
FLS Flowserve misses by $0.05, reports revs in-line; guides FY24 EPS below consensus, revs below consensus
(52.92 +0.26)
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- Reports Q3 (Sep) earnings of $0.62 per share, excluding non-recurring items, $0.05 worse than the FactSet Consensus of $0.67; revenues rose 3.5% year/year to $1.13 bln vs the $1.12 bln FactSet Consensus.
- Bookings of $1.20 billion, an increase of 12.7% compared to prior year, including $615 million of aftermarket activity and record levels of 3D strategy bookings
- Co issues downside guidance for FY24, sees EPS of $2.60-2.75, excluding non-recurring items, vs. $2.76 FactSet Consensus; sees FY24 revs growth of 4-6%, which translates to ~$4.49-4.58 bln vs. $4.59 bln FactSet Consensus.
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16:14 |
F Ford Motor beats by $0.03, beats on revs; projects FY24 adjusted EBIT of about $10 bln
(11.37 +0.30)
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- Reports Q3 (Sep) earnings of $0.49 per share, excluding non-recurring items, $0.03 better than the FactSet Consensus of $0.46; revenues rose 5.5% year/year to $46.2 bln vs the $45.13 bln FactSet Consensus.
- Ford Pro revenue increases 13%; Ford Pro Intelligence paid software subscriptions up 30% to nearly 630,000 users. Ford Pro generated $1.8 billion in EBIT -- with a margin of 11.6% -- on revenue of $15.7 billion, a 13% increase from the same period a year ago.
- Third-quarter revenue for Ford Blue was up 3% to $26.2 billion, despite a 2% decline in global wholesales due to discontinued low margin ICE passenger vehicles.
- North America volume grew by 8% driven by newly launched trucks and SUVs that helped grow Ford's market share in the U.S. during the quarter by 40 bps to 12.6%.
- Global hybrid vehicle sales increased 30% in the quarter, and the company's hybrid mix remains on pace to approach 9% by year end, up over 2 points year-over-year.
- Ford Model e reported an EBIT loss of $1.2 billion. The $500 million of year-over-year cost improvements were offset by expected industrywide pricing pressure. The segment continues to improve its profit trajectory, achieving almost $1 billion in cost improvements year-to-date.
- FY24 outlook:
- Ford now expects adjusted EBIT of about $10 billion, down slightly from its previous outlook of $10-12 bln, with adjusted free cash flow between $7.5 billion and $8.5 billion (unchanged). Capital expenditures are expected to be between $8.0-8.5 bln, down from $8.0-9.0 bln.
- Full-year EBIT for Ford Pro is now expected to be about $9 billion, Ford Blue about $5 billion, and Model e a full-year loss of about $5 billion. Earnings before taxes from Ford Credit are now expected to be about $1.6 billion.
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16:12 |
FFIV F5 Networks beats by $0.22, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY25 EPS in-line, revs above consensus; Announces $1.0 bln share repurchase program
(218.36 +1.49)
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- Reports Q4 (Sep) earnings of $3.67 per share, excluding non-recurring items, $0.22 better than the FactSet Consensus of $3.45; revenues rose 5.7% year/year to $747 mln vs the $730.43 mln FactSet Consensus.
- Co issues in-line guidance for Q1, sees EPS of $3.29-$3.41, excluding non-recurring items, vs. $3.35 FactSet Consensus; sees Q1 revs of $705-$725 mln vs. $705.94 mln FactSet Consensus.
- Co issues guidance for FY25, sees EPS of $14.04-$14.31, excluding non-recurring items, vs. $14.13 FactSet Consensus; sees FY25 revs of $2.93-$2.96 bln vs. $2.91 bln FactSet Consensus.
- Share Repurchase Program: Co also announced today that its Board of Directors has authorized an additional $1 billion for its common stock repurchase program. This new authorization is incremental to the $422 million remaining in the existing program.
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16:11 |
VFC V.F. Corp beats by $0.22, beats on revs; guides Q3 revs below consensus |
|
- Reports Q2 (Sep) earnings of $0.60 per share, excluding non-recurring items, $0.22 better than the FactSet Consensus of $0.38; revenues fell 5.6% year/year to $2.76 bln vs the $2.72 bln FactSet Consensus.
- The North Face down 3% (down 4% in constant dollars) as expected. This compares against a strong Q2'FY24 of up 19% (up 17% in constant dollars)
- Vans down 11% vs. last year, relative to Q1'FY25 down 21% vs. last year.
- Q2'FY25 ending inventories down 13% relative to the prior year.
- Co issues downside guidance for Q3, sees Q3 revs of $2.70-2.75 bln vs. $2.78 bln FactSet Consensus.
- We are on track to reach our previously announced $300 million savings target by the end of FY25. Our Americas regional platform is fully operational and showing promising signs, while the performance at Vans is improving.
- For FY25 VF expects free cash flow from continuing operations plus proceeds from non-core physical asset sales of approximately $425 million, with core fundamentals in line with previous guidance. Relative to the original full year guidance of $600 million, the change reflects the sale of Supreme and additional reinvestment initiatives in the second half of FY25, which are partially offset by the greater than anticipated proceeds for non-core physical asset sales.
- VF's Board of Directors declared a quarterly dividend of $0.09 per share. This dividend will be payable on December 18, 2024, to shareholders of record at the close of business on December 10, 2024. Subject to approval by its Board of Directors, VF intends to continue to pay quarterly dividends.
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16:10 |
BOOT Boot Barn Holdings announces that Jim Conroy plans to step down as CEO and President, John Hazen promoted to interim CEO; both are effective November 22
(161.22 +3.22)
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Co announces that Jim Conroy plans to step down as the Company's CEO and President and as a member of the Company's Board of Directors, effective November 22, 2024, to pursue an opportunity as CEO of Ross Stores (ROST). |
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16:09 |
ROST Ross Stores announces that its Board of Directors has appointed James Conroy, a seasoned retail CEO, as Chief Executive Officer, succeeding Barbara Rentler effective February 2, 2025
(143.16 -1.06)
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- Initially, Mr. Conroy will join the Company on December 2, 2024 as Chief
Executive Officer -- Elect, when he will also become a member of the Board of
Directors, reporting to Executive Chairman
Michael Balmuth. Upon becoming CEO, he will report directly to the Company's full Board
of Directors.
- Mr. Conroy is a talented retail executive with more than 25 years of management, operational, and consulting experience. Most recently since 2012, Mr. Conroy has served as President and Chief Executive Officer of Boot Barn, one of the nation's leading lifestyle retailers of western and work-related footwear, apparel, and accessories for men, women, and children, with over 400 locations in 46 states and an e-commerce channel.
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16:06 |
ARDX Ardelyx presents results from its IBS in America 2024 Supplemental Survey at the American College of Gastroenterology's Annual Meeting
(5.90 +0.13)
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WALTHAM, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today announced that results from the IBS in America 2024 supplemental survey, in partnership with Health Union, were presented at the American College of Gastroenterology's (ACG) Annual Scientific Meeting & Postgraduate Course, currently taking place in Philadelphia. Developed as an online, nationwide survey conducted in partnership with Health Union, more than 280 irritable bowel syndrome with constipation (IBS-C) patients were surveyed to better understand their symptoms and the impact of IBS-C on their overall health and quality of life. |
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16:05 |
CDNS Cadence Design beats by $0.20, beats on revs; guides FY24 EPS in-line, revs in-line
(252.77 -4.53)
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- Reports Q3 (Sep) earnings of $1.64 per share, excluding non-recurring items, $0.20 better than the FactSet Consensus of $1.44; revenues rose 18.8% year/year to $1.22 bln vs the $1.18 bln FactSet Consensus.
- Quarter-end backlog was $5.6 billion and current
remaining performance obligations, contract revenue expected to be
recognized as revenue in the next 12 months, was $2.9
billion.
- Co issues in-line guidance for FY24, sees EPS of $5.87-5.93 (narrowed from $5.77-5.97), excluding non-recurring items, vs. $5.89 FactSet Consensus; sees FY24 revs of $4.61-4.65 bln (narrowed from $4.60-4.66 bln) vs. $4.63 bln FactSet Consensus.
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16:05 |
SBAC SBA Comm beats by $0.01, reports revs in-line; raises FY24 guidance; agrees to partnership with Millicom International Cellular S.A. (TIGO) in Central America
(239.94 -1.85)
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- Reports Q3 (Sep) funds from operations of $3.32 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $3.31; revenues fell 2.2% year/year to $667.6 mln vs the $669.29 mln FactSet Consensus.
- Co issues guidance for FY24, sees FFO of $13.20-$13.45, excluding non-recurring items, (from prior $13.06-$13.43) vs. $13.23 FactSet Consensus; sees FY24 revs of $2.66-$2.68 bln (from prior $2.642-$2.672 bln) vs. $2.66 bln FactSet Consensus.
- Subsequent to the third quarter of 2024, SBA entered into an agreement to purchase over 7,000 communication sites in Central America from Millicom International Cellular S.A. (TIGO) for approximately $975.0 million in cash. These sites are located in Guatemala, Honduras, Panama, El Salvador, and Nicaragua, with significantly all cash flows denominated in USD. The sites to be acquired in this transaction are anticipated to produce approximately $129.0 million of revenues and $89.0 million of tower cash flow during their first full year of operations after closing. Upon closing, Millicom will enter into country-specific Master Lease Agreements ("MLAs") to lease back space on all acquired sites for an initial term of 15 years. The MLAs will also incorporate an extension to SBA's approximately 1,500 existing site leases with Millicom for a new 15-year term. Additionally, as part of the purchase agreement, SBA and Millicom have agreed to a seven-year exclusivity right for SBA to build up to 2,500 build-to-suit sites in Central America for Millicom with new leases on any sites built having an initial lease term of 15 years. This transaction is expected to close some time in 2025.
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16:03 |
CSWC Capital Southwest Corp. beats by $0.01
(25.72 +0.09)
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- Reports Q2 (Sep) earnings of $0.66 per share, $0.01 better than the FactSet Consensus of $0.65.
- LTM Operating Leverage: 1.7% for the quarter ended September 30, 2024.
- During the quarter ended September 30, 2024, the Company originated $89.8 million in new commitments, consisting of investments in four new portfolio companies totaling $73.0 million and add-on commitments in 11 portfolio companies totaling $16.8 million.
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16:01 |
ACI Albertsons announces that effective October 24, 2024, the Board of Directors has elected Jim Donald as the sole independent Chair of the Board
(18.34 +0.05)
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Also, effective October 24, 2024, the Board appointed Stephen Feinberg to the Board for the term expiring at the Company's 2025 annual meeting of stockholders. Cerberus Capital Management, L.P. designated Mr. Feinberg to the Board in accordance with the Stockholders Agreement dated June 25, 2020, by and among the Company and Cerberus, after Chan Galbato stepped down from the Board on October 22, 2024. Mr. Galbato was previously designated to the Board in 2021 by Cerberus pursuant to the Stockholders' Agreement. |
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