Advertisements


FedEx Is Struggling To Shake Off The Pandemic-Domino Effect

On Tuesday, parcel delivery company FedEx Corporation (NYSE: FDX) reported a decline in quarterly profit along with cutting its earnings outlook due to higher costs and labor shortages. Upon the news, its shares declined more than 4% in after-hours trading. Figures For the quarter that ended in August, revenue rose 14% to $22 billion which was in line with Refinitiv survey of Wall Street analysts. But net income slid to $1.1 billion, or $4.09 a share, below FactSet expectations of $4.88. During the same quarter last year, it earned $1.25 billion, or $4.72 a share, translating to an 11% drop in profit. Excluding restructuring and integration expenses, per-share earnings become $4.37. The tight labor market increased spending by $450 million as FedEx needed to pay more over time and raise spending to attract workers while it also needed to spend more on transportation. Salaries and employee benefit expenses alone rose 13%, including 27% in its Ground division. Moreover, shipping demand unexpectedly slowed due to supply-chain disruptions as the current labor environment is driving operational inefficiencies that are dragging down financial results. Outlook Tennessee-based delivery giant expects FedEx further downgraded its per-share earnings forecast that it issued in July. Per share earnings before certain accounting adjustments for the fiscal year that started in June are expected to be between $18.25 and $19.50 Failed Attempt To Offset Higher Costs Like United Parcel Service, Inc (NYSE: UPS), FedEx raised prices ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 0 min. ago Related News

Mid-Morning Market Update: Markets Open Higher; Accenture Profit Beats Views

Following the market opening Thursday, the Dow traded up 1.38% to 34,732.57 while the NASDAQ rose 0.97% to 15,041.00. The S&P also rose, gaining 1.22% to 4,449.12. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 42,545,220 cases with around 681,190 deaths. India confirmed a total of at least 33,563,420 cases and 446,050 deaths, while Brazil reported over 21,283,560 COVID-19 cases with 592,310 deaths. In total, there were at least 230,147,170 cases of COVID-19 worldwide with more than 4,720,430 deaths, according to data compiled by Johns Hopkins University. Leading and Lagging Sectors Financials shares jumped 2% on Thursday. Meanwhile, top gainers in the sector included Valley National Bancorp (NASDAQ: VLY), up 5% and Value Line, Inc. (NASDAQ: VALU) up 5%. In trading on Thursday, real estate shares rose by just 0.4%. Top Headline Accenture plc (NYSE: ACN) reported better-than-expected earnings for its fourth quarter on Thursday. Accenture reported quarterly earnings of $2.20 per share, beating analysts’ estimates of $2.19 per share. The company’s quarterly sales came in at $13.40 billion, versus analysts’ expectations of $13.42 billion. Accenture also raised its quarterly dividend from $0.88 to $0.97 per share. Accenture repurchased shares worth $915 million in Q4. The board approved $3.0 billion of additional share repurchase. Accenture said ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 0 min. ago Related News

Why BlackBerry Shares Are Trading Higher Today

BlackBerry Ltd (NYSE: BB) is trading higher Thursday morning after the company announced better-than-expected second-quarter fiscal 2022 financial results. BlackBerry reported an adjusted quarterly earnings loss of 6 cents per share, which beat the estimate for a loss of 7 cents per share. The company reported quarterly revenue of $175 million, which ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Price Over Earnings Overview: Endava

    Looking into the current session, Endava Inc. (NYSE:DAVA) is trading at $115.56, after a 5.16% drop. Over the past month, the stock decreased by 15.62%, but over the past year, it actually spiked by 93.57%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

A Look Into TD Synnex"s Price Over Earnings

    Right now, TD Synnex Inc. (NYSE:SNX) share price is at $112.58, after a 1.16% increase. Moreover, over the past month, the stock decreased by 11.92%, but in the past year, increased by 75.57%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The stock ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Price To Earnings Ratio Insights For IHS Markit

  In the current session, IHS Markit Inc. (NYSE:INFO) is trading at $123.81, after a 1.18% increase. Over the past month, the stock increased by 4.06%, and in the past year, by 59.28%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued. Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Thursday"s Market Minute: Gold Slumps, But Still Within Trading Range

Gold futures fell almost -3% within the span of two days last week, with this week bringing modest improvement. Major moving averages, which have been clustered together and trending sideways since early June as price chopped around, are starting to spread apart to the downside; the 21-day, 63-day & 252-day Exponential Moving Averages are now all sloping downward, which typically would be ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

A Look Into FactSet Research"s Price Over Earnings

    In the current session, FactSet Research Systems Inc. (NYSE:FDS) is trading at $377.10, after a 0.71% gain. Over the past month, the stock increased by 0.61%, and in the past year, by 14.58%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued. Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The stock is currently under from its ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Rite Aid Shares Crumble After Expecting Wider Annual Net Loss For Fiscal 2022

Rite Aid Corporation (NYSE: RAD) has reported Q2 FY22 adjusted net loss of ($0.41) per share, compared to an income of $0.25 a year ago, but beating the consensus of $(0.48). Earnings: Revenues increased 2.2% Y/Y to $6.11 billion, missing the estimate of $6.21 billion. The sales growth was driven by the Retail Pharmacy Segment, partially offset by a decline at the Pharmacy Services Segment. Retail Pharmacy Segment revenues increased 6.5% Y/Y to $4.28 billion, driven by an increase in same-store sales and the inclusion of Bartell's results. Same-store sales increased 2.6%, consisting of a 5% increase in pharmacy sales ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Price To Earnings Ratio Insights For Micron Technology

    In the current session, Micron Technology Inc. (NASDAQ:MU) is trading at $74.70, after a 1% gain. Over the past month, the stock increased by 2.65%, and in the past year, by 52.01%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued. Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Chinese Real Estate Giant Evergrande Expected To Pay Off Some Debt

Wall Street got some clarification from the Fed yesterday after a long wait, which helps explain why major indices are painted green this morning. The Fed basically said the economy is doing better, and that’s good to hear.  Volatility is down, with the Cboe Volatility Index (VIX) falling back under 20 after soaring above 25 during Monday’s selloff. A dip in VIX could signal a clearer road to stock market gains, as many investors still appear to be bullish about the U.S. stock market vs. other possible places to park their cash.  In a less helpful bit of news, 351,000 Americans filed for jobless claims last week, vs. 320,000 that analysts had expected and an increase from 332,000 the previous week. That could indicate continued labor shortages for some companies and the service sectors.  Don’t Dismiss Evergrande Too Quickly Earlier, in Asia, beleaguered Chinese property developer Evergrande said it would start making payments on some of its debt. However, Beijing is sending out signals that it might let the real estate giant fail on some of its obligations, namely those held by investors overseas.  It’s interesting how the Evergrande worries have faded into the background a bit here after slamming Wall Street earlier this week. It just goes to show how important the Fed is. However, don’t dismiss the Evergrande story. For now, it seems to be in the background, but these stories have a habit of coming back. In other news, there might be interest in a scheduled meeting today with the White House on producers and users of semiconductors, of which there has been a shortage affecting everything from computers to cars. Workers have been curtailed by the pandemic while demand has increased.  Demand also is on the increase for homes, judging by the very nice quarter just reported by KB Home (NYSE: KBH). The homebuilding company had supply chain issues, but revenue still rose 47%. In other earnings news, Blackberry (NYSE: BB) shares were also rising this morning after an earnings beat.  There’s also a bunch of key earnings reports ahead later, including Costco (NASDAQ: COST) and Nike (NYSE: NKE), which could give insight into the health of both U.S. and Chinese consumers.  Next Jobs Report Could Help Determine Fed’s Taper Timing A decent September jobs report probably means the Fed could announce a slight loosening of the economy’s training wheels in November.  That’s basically what Fed Chairman Jerome Powell told us at his press conference yesterday after the Fed’s meeting, and so far, the market seems OK with that. While the major indices pulled back a bit from their peaks after Powell spoke, Wednesday was still a very strong day.  Leading sectors included Financials—which would conceivably benefit from higher rates—and Energy. Both are so-called “cyclical” sectors that tend to do better when the economy is growing, and a taper announcement might be seen as confirmation from the Fed that things are going well. Getting back to Powell, what he said in his press conference is that he thinks “the test is all but met” for a taper of the Fed’s $120 billion a month bond-buying program, but he needs to see a “decent” jobs report. The report—due Friday, Oct. 8—now arguably becomes even more important than it already was following relatively soft August jobs data that reflected the Delta variant’s impact on travel and leisure hiring.  As Powell also said, many Fed officials think the test has already been met to taper. To some analysts, the chairman’s words signaled that a taper announcement is all but baked in at the November meeting, barring some major new bearish development between now and then.  It’s unlikely most investors really believe ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA4 hr. 16 min. ago Related News

Darden Restaurants Reports Fiscal 2022 First Quarter Results; Declares Quarterly Dividend; Announces Additional $750 Million Share Repurchase Authorization; And Increases Fiscal 2022 Outlook

Darden Restaurants Reports Fiscal 2022 First Quarter Results; Declares Quarterly Dividend; Announces Additional $750 Million Share Repurchase Authorization; And Increases Fiscal 2022 Outlook.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

SPoT Coffee Provides Financial and Operational Update

TORONTO, Sept. 23, 2021 /CNW/ - SPOT COFFEE (CANADA) LTD (TSXV:SPP) ("SPoT" or the "Company") is pleased to provide this update on financial and operational matters. Q2 Financial Highlights The Company's net income for the three-month period ending June 30, 2021, including income purely from operations as well as other income, was $694,734. Furthermore, the Company achieved a positive EBITDA of $1,134,999. Other key highlights from the Company's financial statements for the 6-month period ending June 30, 2021 include: The working capital of the Company has risen by $1,751,764 since December 31, 2020, mainly due to the closing of the Company's non-brokered private placement, which provided SPoT with $455,030 in equity financing as previously announced in its news release of May 14, 2021. Furthermore, the Company's receipt of $940,137 (US $758,542) from the US Small Business Administration under its Restaurant Revitalization Fund (RRF) program also contributed to the rise in its working capital. The Company anticipates further funding under the RRF program in accordance with its pending application if the ENTRÉE Act, which provides for a US $60 billion replenishment of the RRF, passes. The Company's liabilities have decreased by $1,374,675. In the 6-month period ending June 30, 2021, as compared to the same period in 2020, initial efforts by SPoT's management to reduce operating costs as part of the Company's drive to control spending ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Ennis: Q2 Earnings Insights

  Ennis(NYSE:EBF) stock rose by 0.44% on Wednesday after the company reported its Q2 earnings results on Tuesday, September 21, 2021 at 06:00 AM. Here's what investors need to know about the announcement. Earnings Ennis missed their estimated earnings by 0.0%, which did not surprise analysts. Revenue was up $13,839,000 from the same ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Recap: Apogee Enterprises Q2 Earnings

  Apogee Enterprises(NASDAQ:APOG) stock rose by 0.16% on Wednesday after the company reported its Q2 earnings results on Tuesday, September 21, 2021 at 06:30 AM. Here's what investors need to know about the announcement. Earnings Apogee Enterprises missed their estimated earnings by 3.64%, which did not surprise analysts. Revenue was ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Cracker Barrel Old: Q4 Earnings Insights

  Cracker Barrel Old(NASDAQ:CBRL) stock rose by 3.0% on Wednesday after the company reported its Q4 earnings results on Tuesday, September 21, 2021 at 08:00 AM. Here's what investors need to know about the announcement. Earnings Cracker Barrel Old missed their estimated earnings by 3.43%, which did not surprise analysts. Revenue was ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Recap: Neogen Q1 Earnings

  Neogen(NASDAQ:NEOG) stock fell by 0.82% on Wednesday after the company reported its Q1 earnings results on Tuesday, September 21, 2021 at 08:45 AM. Here's what investors need to know about the announcement. Earnings Neogen reported in-line quarterly earnings. Revenue was up $18,980,000 from the same period ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Recap: FedEx Q1 Earnings

  FedEx(NYSE:FDX) stock fell by 9.12% on Wednesday after the company reported its Q1 earnings results on Tuesday, September 21, 2021 at 04:04 PM. Here's what investors need to know about the announcement. Earnings FedEx missed their estimated earnings by 12.6%, which surprised analysts. Revenue was up $2,682,000,000 ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Recap: Isoray Q4 Earnings

  Isoray(AMEX:ISR) stock fell by 3.68% on Wednesday after the company reported its Q4 earnings results on Tuesday, September 21, 2021 at 04:05 PM. Here's what investors need to know about the announcement. Earnings Isoray missed their estimated earnings by 0.0%, which did not surprise analysts. Revenue was up ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News

Adobe: Q3 Earnings Insights

  Adobe(NASDAQ:ADBE) stock fell by 3.07% on Wednesday after the company reported its Q3 earnings results on Tuesday, September 21, 2021 at 04:05 PM. Here's what investors need to know about the announcement. Earnings Adobe beat their estimated earnings by 3.32%, which did not surprise analysts. Revenue was up $710,000,000 from the same period last ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA5 hr. 0 min. ago Related News