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marketwatch
11:04 Tue 4
TrdId
ConocoPhillips Q1 EPS 75 cents vs. per-share loss $1.60 a year ago
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
http://feeds.marketwatch.com/~r/marketwatch/realtimeheadlines/~3/6FLzaF3KH6g/quotes.asp
COP
Energ
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date o news
marketwatch
11:18 Tue 4
Mrkts
ConocoPhillips stock jumps after earnings beat, plans for share repurchases and sales of Cenovus stake
Shares of ConocoPhillips climbed 1.8% in premarket trading Tuesday, after the oil and gas company reported first-quarter earnings that beat expectations, and announced the resumption of share repurchases and plans to start selling off its Cenovus Energy Inc. stake. The company swung to net income of $1.0 billion, or 75 cents a share, from a loss of $1.7 billion, or $1.60 a share, in the year-ago period. Excluding nonrecurring items, such as unrealized gains on its Cenovus stake, adjusted earnings per share came to 69 cents, above the FactSet consensus of $54 cents. Production excluding Libya increased 16.4% to 1,488 thousand barrels of oil equivalent per day (MBOED), just shy of the FactSet consensus of 1,491 MBOED. The company said it has resumed stock buybacks at an annualized rate of $1.5 billion. ConocoPhillips said it currently owns about 10% of Cenovus stock, which based on Monday's stock closing prices could be valued at roughly $1.6 billion. The company plans to start selling off its Cenovus stake in the second quarter of 2021, and expects to complete the sales by the fourth quarter of 2022. The company plans to use the proceeds to fund share repurchases. Separately, ConocoPhillips said it plans to reduce debt by $5 billion over the next five years. ConocoPhillips stock has run up 31.9% year to date, while the SPDR Energy Select Sector ETF has climbed 33.9% and the S&P 500 has gained 11.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
COP
Energ
marketwatch
21:34 Wed 5
TrdId
Arlo Technologies stock rallies after narrower Q1 loss
Shares of Arlo Technologies Inc. jumped 10% in the extended session Wednesday after the maker of home security cameras and other equipment reported a narrower-than-expected first-quarter loss and sales topped forecasts. Arlo said it lost $10.7 million, or 13 cents a share, in the quarter, compared with a loss of $15.2 million, or 19 cents a share, in the year-ago quarter. Adjusted for one-time items, Arlo lost 3 cents a share, compared with 8 cents a share a year ago. Sales rose 26% to $82.6 million, Arlo said. Analysts polled by FactSet expected Arlo to report an adjusted loss of 21 cents a share on sales of $76.9 million. 'In 2020 we successfully pivoted to become services-focused to create a more predictable, more profitable business and our strong Q1 results are further proof of our progress,' Chief Executive Matthew McRae said in a statement. Arlo guided for second-quarter revenue between $80 million and $90 million, and an adjusted per-share loss between 20 cents and 13 cents. Shares of Arlo ended the regular trading day down 0.2%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
ARLO
Indus
marketwatch
11:04 Tue 4
TrdId
ConocoPhillips Q1 EPS 75 cents vs. per-share loss $1.60 a year ago
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
COP
Energ
marketwatch
11:21 Tue 4
TrdId
Under Armour now guiding for full-year earnings rather than a loss
Under Armour Inc. stock rose 2.8% in Tuesday premarket trading after the athletic company reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled $77.8 million, or 17 cents per share, after a loss of $589.7 million, or $1.30 per share, last year. Adjusted EPS of 16 cents beat the FactSet consensus for 4 cents. Revenue of $1.257 billion was up from $930.2 million and also ahead of the FactSet consensus for $1.131 billion. Under Armour now expects full-year 2021 revenue to be up at a high-teen percentage rate compared to previous guidance for a rise in the high-single-digit percentage rate. Full-year 2021 EPS is expected to be 2 cents to 4 cents, compared with previous guidance for a loss of 18 cents to 20 cents. And adjusted EPS is expected to be 28 cents to 30 cents versus previous guidance for 12 cents to 14 cents. The FactSet consensus is for revenue of $4.941 billion, suggesting a rise of 10.4% and EPS of 21 cents. Under Armour announced Monday that it has agreed to pay $9 million to settle an SEC charge that it misled investors. Under Armour neither admitted or denied the charge. Under Armour stock has gained 40.8% for the year to date while the S&P 500 index is up 11.6% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


marketwatch
20:50 Mon 3
TrdId
Mosaic swings to profit, sales rise nearly 30% in Q1
Shares of Mosaic Co. dropped nearly 5% in the extended session Monday after the producer of potash and phosphate fertilizers beat Wall Street expectations for its first quarter and said the outlook for the remainder of 2021 continued to be favorable. Mosaic said it earned $157 million, or 41 cents a share, in the quarter, versus a loss of $203 million, or 54 cents a share, in the year-ago quarter. Adjusted for one-time items, Mosaic said it earned 57 cents a share, versus a loss of 6 cents a share a year ago. Sales rose 28% to $2.3 billion, as the company 'capitalized on stronger market conditions,' Mosaic said in a statement. Analysts polled by FactSet expected Mosaic to report adjusted earnings of 54 cents on sales of $2.26 billion. The outlook for the rest of the year remains favorable, and gross margins in the quarter were up almost 10 times mostly because of price increases, the company said. The stock ended the regular trading day down 0.4%. It has tripled in the past 12 months, compared with gains around 48% for the S&P 500 index. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MOS
Basic
marketwatch
12:28 Tue 4
NwsErnng
Sysco sales miss expectations but says 'a robust business recovery' is ahead
Foodservice distributor Sysco Corp. reported fiscal third-quarter net income of $88.9 million, or 17 cents per share, after a loss of $3.3 million, or 1 cent per share, last year. Adjusted EPS of 23 cents was up from 22 cents last year and ahead of the FactSet consensus for 20 cents. Sales of $11.82 billion were down from $13.70 billion last year and below the FactSet consensus for $12.28 billion. Sysco says sales trends are improving as markets reopen, with April sales more than doubling, up 102.1%, year-over-year. 'A robust business recovery is now upon us,' said Kevin Hourican, chief executive of Sysco, in a statement. Sysco stock is up 13.2% for the year to date while the S&P 500 index is up 11.6% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
SYY
Consu
marketwatch
20:42 Mon 3
TrdId
: iRobot stock drops as earnings beat does little to help outlook
Shares of iRobot Corp. IRBT fell in the extended session Monday after the consumer robot companys earnings beat for the quarter did little to push its full-year earnings outlook above the Wall Street estimate. Shares of iRobot dropped 7% after hours, following a 4.5% decline in the regular session to close at $103.96. The company reported second-quarter net income of $7.4 million, or 26 cents a share, compared with a loss of $18.1 million, or 64 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 41 cents a share, versus a loss of 32 cents a share in the year-ago period. Revenue rose to $303.3 million from $192.5 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 8 cents a share on revenue of $263.5 million. The company forecast earnings of $3 to $3.25 a share on revenue of $1.67 billion to $1.71 billion for the year. Analysts had estimated $3.24 a share on revenue of $1.65 billion for the year. While it is still early in the year and there is substantial work ahead, we are very excited about our potential to deliver upside to our current targets, assuming demand signals remain favorable and we successfully mitigate the semiconductor chip constraints that are disrupting a wide range of industries, said Colin Angle, iRobot chairman and chief executive, in a statement. By the close, iRobot shares have gained 75% over the past 12 months, while the S&P 500 index SPX has gained 48%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
IRBT
Techn
reddit
8h ago
OthrMvrs
Twilio Earnings Announced
Twilio TWLO reported a surprise beat for first-quarter losses of $206.5 million, or $1.24 a share, on sales of $590 million, up from $365 million a year ago. After adjusting for stock compensation and other effects, the software company reported earnings of 5 cents a share, after posting adjusted earnings of 6 cents a share a year ago. Analysts on average expected an adjusted loss of 10 cents a share on sales of $533 million, according to FactSet, after Twilio guided to adjusted losses of 9 cents to 12 cents a share on sales of $526 million to $536 million. Shares declined more than 5% in the after-hours trading session, after closing with a daily decline of 1.8% at $335.72. Company has excellent growth right now with very good retention. Exceeded all of wall streets expectations and a raised guidance. Stock fell because theyre concerned whether expansion is eating into profits, and company just doesnt become more profitable. Expansion is good, but of course those writing articles will shill whatever theyre paid to write. Thoughts on a comeback to mid 350s in the next month or so? submitted by /u/lilaznjocky [link] [comments]
TWLO
Commu
marketwatch
11:24 Wed 5
Mrkts
Tupperware swings to a profit, shares jump
Tupperware Brands Corp. stock jumped 6.2% in Wednesday premarket trading after the container company reported first-quarter results that beat expectations. Net income totaled $45.3 million, or 85 cents per share, after a loss of $7.8 million, or 16 cents per share, last year. Adjusted EPS of 82 cents was up from 9 cents last year and ahead of the FactSet consensus for 54 cents. Sales of $460.3 million were up from $375.9 million last year and ahead of the FactSet consensus of $434.0 million. 'We continue to revitalize the brand through the expanded use of digital tools by our sales force to solve consumer needs,' said Miguel Fernandez, Tupperware chief executive, in a statement. 'Additionally, we have made great progress building the team needed to accelerate growth in new channels of distribution so more consumers have access to our environmentally-friendly, reusable products.' Tupperware stock has tumbled nearly 26% over the year to date while the S&P 500 index is up 10.9% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
TUP
Consu
marketwatch
10:15 Wed 5
Hilton Q1 loss per share 39 cents vs. EPS 6 cents a year ago
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.


marketwatch
21:39 Mon 3
OthrMvrs
: Sanmina stock slips as earnings beat Street but revenue doesnt
Sanmina Corp. SANM shares declined in the extended session Monday after the electronics-manufacturing services providers earnings topped Wall Street estimates but its revenue didnt. Samina shares fell 3% after hours, following a 0.7% rise in the regular session to close at $41.12. The company reported fiscal second-quarter net income of $47 million, or 70 cents a share, compared with $4.9 million, or 7 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.01 a share, compared with 32 cents a share in the year-ago period. Revenue rose to $1.7 billion from $1.59 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast 83 cents a share on revenue of $1.71 billion. Sanmina forecast adjusted third-quarter earnings of 84 cents to 94 cents a share on revenue of $1.68 billion to $1.78 billion. Analysts had estimated 84 cents a share on revenue of $1.73 billion. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
SANM
Techn
marketwatch
20:15 Mon 3
Mrkts
Avis' quarterly loss deepens, sales drop 22% in Q1
Avis Budget Group Inc. late Monday reported another quarterly loss and sales that dropped 22%, but the results were better than expected and the stock fell about 1% in the extended session. Avis said it lost $170 million, or $2.43 a share, in the quarter, compared with a loss of $158 million, or $2.16 a share, in the year-ago quarter. Adjusted for one-time items, Avis lost 46 cents a share. Sales fell to $1.37 billion, from $1.75 billion a year ago. Analysts polled by FactSet had expected an adjusted loss of $1.99 a share on sales of $1.31 billion. Avis also said the ongoing chip shortage is causing 'uncertainty' for its supply of vehicles, but it has been managing the situation using its experience navigating other problems such as vehicle recalls. 'We continue to get new car deliveries every day and believe we can increase our fleet utilization efficiency to capture increased demand,' Avis said in a statement. Shares of Avis ended the regular trading day down 0.7%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


marketwatch
11:52 Tue 4
TrdId
Bausch reports a $610 million loss in the first quarter of the year
Shares of Bausch Health Cos. Inc. were down 2.3% in premarket trading on Tuesday after the company said it faced continued pressure on sales from the COVID-19 pandemic into the first quarter of this year. Bausch had a loss of $610 million, or $1.71 per share, in the first quarter of 2021, compared with a loss of $152 million, or 43 cents per share, in the same quarter a year ago. Bausch did not provide adjusted earnings per share for the quarter. The company reported $2.02 billion in sales for the first quarter of the year, up from $2.01 billion in the like quarter a year ago. The FactSet consensus was $2.05 billion. Much of Bausch's business continues to be affected by the pandemic, it said, citing declining sales of irritable bowel syndrome drug Xifaxin and lower sales of eye-care products for the quarter. Bausch said it still plans to move forward with spinning off the Bausch + Lomb eye-care business, which had $881 million in sales for the quarter, up from $875 million in the first quarter of 2020. Bausch's other business focuses on pharmaceuticals; it had $1.14 billion in sales, compared with $1.13 billion in the same quarter a year ago. Bausch's stock has gained 51.0% since the start of the year, while the S&P 500 is up 11.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


globenewswire
21:12 Mon 3
NwsErnng
CVR Energy Reports First Quarter 2021 Results
SUGAR LAND, Texas, May 03, 2021 (GLOBE NEWSWIRE) -- CVR Energy, Inc. (CVR Energy) (NYSE: CVI) today announced a net loss of $39 million, or 39 cents per diluted share, on net sales of $1.5 billion for the first quarter of 2021, compared to net loss of $87 million, or 87 cents per diluted share, on net sales of $1.1 billion for the first quarter of 2020. First quarter 2021 EBITDA was less than $1million, compared to a first quarter 2020 EBITDA loss of $38 million.


prnewswire:443
20:10 Tue 4
NwsErnng
Amcor reports year to date results and raises outlook for fiscal 2021
ZURICH, May 4, 2021 /PRNewswire/ -- Highlights - Nine Months Ended March 31, 2021 GAAP Net Income of $684 million, up 58%; GAAP earnings per share (EPS) of 43.8 cents per share, up 63%; Adjusted EPS of 51.5 cents per share, up 16% on a comparable constant currency basis; Adjusted EBIT of...


marketwatch
10:21 Tue 4
NwsErnng
DuPont beats profit and sales expectations, raised full-year outlook
Shares of DuPont de Nemours Inc. rose 0.9% in premarket trading Tuesday after the specialty materials, chemicals and agricultural products company reported first-quarter profit and sales that beat expectations, with all of its business segments showing growth, and raised its full-year outlook. The company swung to net income of $5.39 billion, or $8.90 a share, from a loss of $616 million, or 83 cents a share, in the year-ago period. Earnings per share excluding discontinued operations was 89 cents, and adjusted EPS excluding nonrecurring items was 91 cents, above the FactSet consensus of 75 cents. Sales rose 8.3% to $3.98 billion, beating the FactSet consensus of $3.85 billion. 'As we emerge from the COVID-19 pandemic, the leading positions we hold in semiconductor, smartphones, automotive, water filtration, and residential construction end-markets enabled us to deliver strong first quarter results ahead of expectations with organic sales growth in all three reporting segments,' said Chief Executive Ed Breen. For 2021, the company raised its adjusted EPS guidance range to $3.60 to $3.75 from $3.30 to $3.45 and its sales guidance to $15.7 billion to $15.9 billion from $15.4 billion to $15.6 billion. The stock has gained 10.1% year to date, while the S&P 500 has advanced 11.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


marketwatch
11:44 Tue 4
TrdId
Warner Music stock rises after profit and revenue beats, boosted by 23% growth in streaming
Shares of Warner Music Group Corp. advanced 0.9% in premarket trading Tuesday, after the music recorder and publisher reported a fiscal second-quarter profit and revenue that beat expectations, boosted by 23% growth in streaming revenue. The company swung to net income of $117 million, or 22 cents a share, from a loss of $74 million, or 15 cents a share, in the year-ago period. The FactSet consensus for net earnings per share was 16 cents. Revenue grew 16.7% to $1.25 billion, above the FactSet consensus of $1.18 billion. Recorded music revenue increased 16.8% to $1.06 billion, above expectations of $1.01 billion, with a 23.2% jump in streaming revenue reflected 'accelerated revenue growth in emerging streaming platforms such as Facebook, TikTok and Peloton. Music publishing revenue rose 15.7% to $192 million, beating expectations of $174.9 million. The stock has gained 0.7% year to date through Monday, while the S&P 500 has rallied 11.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


marketwatch
10:22 Wed 5
TrdId
Fresh Del Monte stock set to rally after profit more than triples, tops expectations
Shares of Fresh Del Monte Produce Inc. were indicated up about 4% in premarket trading Wednesday, after the fresh fruit and vegetables producer reported a first-quarter profit that more than tripled from a year ago, even as sales slipped given continued COVID-19 restrictions on foodservice customers and given hurricane-related supply disruptions. Net income rose to $42.7 million, or 90 cents a share, from $13.0 million, or 27 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 88 cents, while the average EPS estimate of two analysts surveyed by FactSet was 36 cents. Sales declined 2.7% to $1.09 billion, while the average sales estimate of two analysts was $1.11 billion, as fresh and value-added products sales fell 4.5% to $631.0 million and banana sales declined 2.1% to $418.2 million. The stock has run up 19.9% year to date through Tuesday, while the S&P 500 has gained 10.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


marketwatch
20:45 Tue 4
Mrkts
Zillow stock rises 4% as real-estate company sees continued strength in housing
Shares of Zillow Group Inc. rose more than 4% in the extended session Tuesday after the real-estate company topped Wall Street expectations for its first quarter on continued strength of the housing market and more visitors to the company's apps and sites. Zillow said it earned $52 million, or 21 cents a share, in the first quarter, versus a loss of $163 million a year ago. Adjusted for one-time items, Zillow said it earned 47 cents a share in the quarter. Revenue rose 8% to $1.2 billion, the company said. Analysts polled by FactSet had expected Zillow to report adjusted earnings of 26 cents a share on sales of $1.1 billion. Zillow called for second-quarter sales between $1.236 billion and $1.284 billion, as growth trends will continue, the company said. Zillow called for consolidated adjusted EBITDA between $116 million and $140 million in the quarter. Traffic to Zillow's apps and websites rose 15% to 221 million average monthly unique users, driving 2.5 billion visits during the quarter, up 19% year-on-year, the company said. Shares of Zillow ended the regular trading day down 3.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
ZG
Commu
marketwatch
11:25 Tue 4
Bausch Health Q1 loss per share $1.71 vs. loss 43 cents
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.


marketwatch
10:47 Mon 3
Estee Lauder Q3 EPS $1.24 vs. loss 2 cents a share a year ago
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
EL
Consu
marketwatch
10:25 Wed 5
Mrkts
Hilton shares slide 2.2% premarket as earnings fall short of estimates amid COVID shutdowns
Hilton Worldwide Holdings Inc. shares slid 2.2% in premarket trade Wednesday, after the hotel chain's earnings fell short of estimates, as the coronavirus pandemic continued to weigh on demand in January and February. Hilton swung to a loss of $108 million, or 39 cents a share, in the quarter, after income of $18 million, or 6 cents a share, in the year-earlier period. Excluding special items, the company had adjusted per-share earnings of 2 cents, below the 7 cents FactSet consensus. Revenue tumbled to $874 million from $1.920 billion, missing the $1.085 billion FactSet consensus. Revenue per available room fell 38.4% on a currency-neutral basis. 'While rising COVID-19 cases and tightened travel restrictions, particularly across Europe and our Asia Pacific region, weighed on demand in January and February, we saw meaningful improvement in March and April,' Chief Executive Christopher J. Nassetta said in a statement. 'We expect this positive momentum to continue as vaccines are more widely distributed and our customers feel safe traveling again.' The operations of about 275 properties, mostly in the U.S. and Europe, were suspended for some time during the first quarter, compared with about 730 properties in the year-earlier period. Shares have gained 15.3% in the year to date, while the S&P 500 has gained 10.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


marketwatch
11:01 Tue 4
TrdId
Pfizer beats earnings expectations and lifts guidance, as COVID-19 revenue outlook increases 73%
Shares of Pfizer Inc. jumped 1.6% toward a near five-month high in premarket trading Tuesday, after the drug giant beat earnings expectations and raised its full-year outlook, as revenue expectations for its COVID-19 vaccine jumped 73%. Net income rose to $4.88 billion, or 86 cents a share, from $3.36 billion, or 60 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to 93 cents from 63 cents, and beat the FactSet consensus of 77 cents. Revenue grew 45% to $14.58 billion, above the FactSet consensus of $13.54 billion. Vaccine revenue tripled, to $4.89 billion from $1.61 billion, while oncology revenue rose 18% to $2.86 billion and internal medicine revenue grew 11% to $2.59 billion. For 2021, the company raised its guidance ranges for adjusted EPS to $3.55 to $3.65 from $3.10 to $3.20 and for revenue to $70.5 billion to $72.5 billion from $59.4 billion to $61.4 billion, as revenue expectations for the COVID-19 vaccine (BNT162b2) increased to $26 billion from $15 billion. The revenue projection for BNT162b2 includes guidance for 1.6 billion doses expected to be delivered this year. The stock, which is on track to open at the highest prices seen since mid-December, has gained 8.2% year to date through Monday, while the S&P 500 has advanced 11.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


reddit
12:44 Wed 5
TrdId
You can always tax loss harvest stocks with multiple share classes, right?
Stocks like GOOG and GOOGL are both Alphabet, Z and ZG are both Zillow, so the share prices are going to move almost with 100% correlation. That means if you buy one, and it goes down before 1 year, you can sell it and immediately buy the other one for a perfect tax loss harvest. There's no reason to ever have long term losses on shares like these, right? Or am I missing something? submitted by /u/JoeyPuraVida [link] [comments]


marketwatch
10:13 Wed 5
Mrkts
Lumber Liquidators stock set to selloff after profit beat expectations but sales came up short
Shares of Lumber Liquidators Holdings Inc. were indicated down about 5% in premarket trading Wednesday, after the wood flooring retailer reported first-quarter profit that beat expectations but sales that came up short, as results continued to be impacted by tariffs on certain products imported from China. Net income fell to $10.6 million, or 36 cents a share, from $12.2 million, or 42 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 34 cents, above the FactSet consensus of 23 cents. Net sales rose 6.0% to $283.5 million, below the FactSet consensus of $293.1 million, as same-store sales grew 6.9% to miss expectations of a 10.4% rise. The company said same-store sales were driven by strong demand for installation and home improvement projects and shutdowns related to the COVID-19 pandemic a year ago. Cost of sales rsoe 3.4% to $167.9 million. The company did not provide financial guidance, citing uncertainties surrounding the impact of the COVID-19 pandemic as it relates to consumer spending and supply chain disruptions. The stock has dropped 19.5% year to date through Tuesday, while the S&P 500 has climbed 10.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
LL
Consu
marketwatch
20:29 Mon 3
OthrMvrs
Chemours stock rises 1% after better-than-expected Q1 adjusted profit
Chemours Co. stock rose 1% in the extended session Monday after the maker of Teflon and other compounds reported a mixed fiscal 2020 first quarter and said it was reducing costs and capital expenditures. Chemours said it earned $100 million, or 61 cents a share, in the quarter, compared with 55 cents a share in the fiscal 2019 first quarter. Adjusted for one-time items, Chemours earned 71 cents a share. Sales fell to $1.3 billion, from $1.4 billion a year ago, as higher volume in its titanium technologies business was offset by lower volume and lower average prices elsewhere, Chemours said. Analysts polled by FactSet had expected an adjusted EPS of 63 cents a share on sales of $1.4 billion. The company also withdrew its full-year guidance, saying it was 'quickly taking steps to best weather the current conditions, including protocols to safeguard the health and well-being of our employees as COVID-19 runs its course.' Those include launching a program to reduce fiscal 2020 costs by $160 million, and reducing fiscal 2020 capita expenditures by $125 million, from $400 million to $275 million, it said. Chemours shares ended the regular trading day up 2.7%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
CC
Basic
marketwatch
12:11 Wed 5
TrdId
Jones Lang LaSalle profit rises to more than triple expectations, as estimates of real estate investments increased
Jones Lang LaSalle Inc. reported Wednesday a first-quarter profit that was more than triple what was expected, boosted by a $34.7 million increase in the estimated value of investments in proptech companies. Shares of the real estate and investment management company were still inactive in premarket trading. Net income rose to $109.7 million, or $1.97 a share, from $25.8 million, or 10 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to $2.10 from 49 cents, beating the FactSet consensus of 66 cents. Revenue slipped 1% to $4.04 billion, while revenue before reimbursements declined 5% to $2.13 billion, but topped the FactSet consensus of $1.85 billion. Fee revenue was down 4% to $1.44 billion but beat expectations of $1.34 billion, and leasing revenue fell 9% to $49.5 million. The stock has run up 28.8% year to date, while the S&P 500 has advanced 10.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
JLL
Real
@CNBC
20:16 Wed 5
NwsErnng
EARNINGS: Uber reports Q1 results. -Loss: 6 cents vs. 54 cents est. -Revenue: $2.90 billion vs. $3.29 billion est. https://t.co/vspuUsvYxV
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marketwatch
10:51 Tue 4
TrdId
Arconic Q1 EPS 46 cents vs. 42 cents a year ago; FactSet consensus 30 cents
This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.
ARNC
Indus
marketwatch
11:43 Wed 5
Mrkts
GM stock surges after profit more than doubles expectations, while revenue surprisingly slips
Shares of General Motors Co. surged 3.7% in premarket trading, after the automaker reported first-quarter profit that was more than double what was expected, while revenue surprisingly declined and the full-year outlook was a bit shy of forecasts. Net income rose to $2.98 billion, or $2.03 a share, from $247 million, or 17 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share rose to $2.25 from 62 cents, beating the FactSet consensus of $1.05. Revenue slipped 0.7% to $32.47 billion, while the FactSet consensus called for a rise to $33.00 billion. For 2021, GM expects adjusted EPS of between $4.50 and $5.25, compared with the FactSet consensus of $5.29. Chief Executive Mary Barra said in a letter to shareholders that the investment in electric vehicles will continue to accelerate. 'We will continue to convert assembly plants to build EVs and expand our battery cell capacity as we make progress on our goal of EV market share leadership in North America,' Barra wrote. 'We will lead the industry in safely commercializing self-driving technology.' GM's stock has run up 32.9% year to date through Tuesday, while the S&P 500 has gained 10.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.