Germany narrowly avoids a technical recession with 0.1% growth in the third quarter

Germany has narrowly avoided a technical recession, after the latest figures showed the country’s economy grew by 0.1% in the third quarter. Second-quarter growth was revised down from -0.1% to -0.2% and two consecutive periods of negative growth would have constituted an official recession. Today’s data confirm that the German economy has now stalled, but the headlines are probably not dire enough to prompt an immediate and aggressive fiscal response from Berlin.” Meanwhile, the German Economy


Germany has narrowly avoided a technical recession, after the latest figures showed the country’s economy grew by 0.1% in the third quarter.
Second-quarter growth was revised down from -0.1% to -0.2% and two consecutive periods of negative growth would have constituted an official recession.
Today’s data confirm that the German economy has now stalled, but the headlines are probably not dire enough to prompt an immediate and aggressive fiscal response from Berlin.”
Meanwhile, the German Economy
Germany narrowly avoids a technical recession with 0.1% growth in the third quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: spriha srivastava
Keywords: news, cnbc, companies, quarter, economy, narrowly, growth, technical, german, needs, avoids, research, investment, germany, recession


Germany narrowly avoids a technical recession with 0.1% growth in the third quarter

Germany has narrowly avoided a technical recession, after the latest figures showed the country’s economy grew by 0.1% in the third quarter.

Germany’s GDP (gross domestic product) rate exceeded the -0.1% contraction expected by analysts. On an annual basis, the economy grew by 0.5% from July to September, the Federal Statistics Office reported. Second-quarter growth was revised down from -0.1% to -0.2% and two consecutive periods of negative growth would have constituted an official recession.

“No recession, but most definitely a very weak economy,” Claus Vistesen, chief euro zone economist at Pantheon Macroeconomics, said in a research note.

“In some sense, this is the ‘worst’ of both worlds for markets. Today’s data confirm that the German economy has now stalled, but the headlines are probably not dire enough to prompt an immediate and aggressive fiscal response from Berlin.”

Meanwhile, the German Economy Minister Peter Altmaier said that while the numbers show the country avoided a technical recession in the third quarter, economic development in the region is still fragile.

Speaking to CNBC’s Annette Weisbach Thursday, Daniela Schwarzer, director of the German Council on Foreign Relations, noted there was “only a minor difference” between 0.1% and -0.1% growth.

“The truth of the matter is that Germany doesn’t have a robust growth perspective at the moment,” she said, noting that the export-dependent country was being hit by a shift in international trade policies.

“The whole question is what will the sources of future growth be for Germany, and the challenge to actually structurally change the German economy is huge … There needs to be a strong investment in education, research and innovation, and Germany needs infrastructure investment as well.”


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: spriha srivastava
Keywords: news, cnbc, companies, quarter, economy, narrowly, growth, technical, german, needs, avoids, research, investment, germany, recession


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves premarket: Walmart, Peloton, Canopy Growth, Kraft Heinz & more

Comparable sales were up 3.2 percent, beating estimates and rising for the 21st straight quarter. Viacom – The media company beat estimates by 4 cents with adjusted quarterly profit of 79 cents per share, with revenue also beating estimates. Canopy Growth – The Canadian cannabis producer reported a wider than expected loss for its latest quarter, hit by restructuring charges. Cisco Systems – Cisco beat estimates by 3 cents with adjusted quarterly profit of 84 cents per share, with the networking


Comparable sales were up 3.2 percent, beating estimates and rising for the 21st straight quarter.
Viacom – The media company beat estimates by 4 cents with adjusted quarterly profit of 79 cents per share, with revenue also beating estimates.
Canopy Growth – The Canadian cannabis producer reported a wider than expected loss for its latest quarter, hit by restructuring charges.
Cisco Systems – Cisco beat estimates by 3 cents with adjusted quarterly profit of 84 cents per share, with the networking
Stocks making the biggest moves premarket: Walmart, Peloton, Canopy Growth, Kraft Heinz & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: peter schacknow
Keywords: news, cnbc, companies, stocks, walmart, canopy, revenue, kraft, moves, premarket, estimates, cents, growth, heinz, making, share, company, adjusted, profit, peloton, quarterly, beating, quarter


Stocks making the biggest moves premarket: Walmart, Peloton, Canopy Growth, Kraft Heinz & more

Check out the companies making headlines before the bell:

Walmart – Walmart earned an adjusted $1.16 per share for the third quarter, beating the consensus of $1.09, and raised its full year earnings outlook. Comparable sales were up 3.2 percent, beating estimates and rising for the 21st straight quarter. Revenue did come in slightly below Wall Street forecasts.

Viacom – The media company beat estimates by 4 cents with adjusted quarterly profit of 79 cents per share, with revenue also beating estimates. Results got a boost from an increase in domestic advertising revenue.

Canopy Growth – The Canadian cannabis producer reported a wider than expected loss for its latest quarter, hit by restructuring charges. Revenue did come in higher than analysts had been expecting.

Cisco Systems – Cisco beat estimates by 3 cents with adjusted quarterly profit of 84 cents per share, with the networking equipment maker’s revenue also beating forecasts. However, Cisco issued a weaker-than-expected current quarter forecast and noted a slowdown in global technology spending.

BHP – BHP named the head of its Australian unit, Mike Henry, as its new chief executive officer. He will replace Andrew Mackenzie, who had been head of the mining giant for almost 7 years, at the end of this year.

American Outdoor Brands – American Outdoor will separate its Smith & Wesson firearms unit into a new public company. The transaction is expected to be completed in the second half of 2020.

Xerox – Xerox should push ahead in its bid to buy computer and printer maker HP, according to activist investor Carl Icahn. Icahn, who owns a 10.6% stake in Xerox, told The Wall Street Journal he also has a 4.24% stake in HP and that a combination of the 2 companies could yield big profits for investors.

Peloton Interactive – The fitness company is planning to introduce a cheaper treadmill and rowing machine next year, according to a Bloomberg report. Peloton is also said to be thinking about apps for Amazon’s Fire TV and the Apple Watch.

NetApp – NetApp reported adjusted quarterly profit of $1.09 per share, 15 cents above estimates, although the cloud data services company saw revenue slightly below forecasts. The company said enterprise spending remains cautious, but is no better or worse than it was in the prior quarter.

Kraft Heinz – Kraft Heinz was downgraded to “sell” from “neutral” by Goldman Sachs, which said the company has underinvested in some areas and faces cost pressures. The food producer’s stock is up more than 20% over the past month, but is still down more than 23% for the year.

Beyond Meat (BYND) – The plant-based burger maker was rated “buy” in new coverage at Berenberg, which notes that Beyond Meat is the only pure-play public company in a rapidly growing category.


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: peter schacknow
Keywords: news, cnbc, companies, stocks, walmart, canopy, revenue, kraft, moves, premarket, estimates, cents, growth, heinz, making, share, company, adjusted, profit, peloton, quarterly, beating, quarter


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Onetime marijuana high-flyer Canopy Growth tanks 17% after bigger than expected loss

U.S.-listed shares of Canopy Growth plunged as much as 17% on Thursday after the Canadian cannabis producer reported a higher-than-expected loss in its fiscal second-quarter financial results, hit by restructuring charges. Canopy, the world’s largest publicly traded cannabis company by market value, reported a loss of $1.08 per share for its latest quarter. “There simply aren’t enough stores,” Zekulin told CNBC’s “Squawk Alley.” Zekulin said the company “took the necessary steps to address inven


U.S.-listed shares of Canopy Growth plunged as much as 17% on Thursday after the Canadian cannabis producer reported a higher-than-expected loss in its fiscal second-quarter financial results, hit by restructuring charges.
Canopy, the world’s largest publicly traded cannabis company by market value, reported a loss of $1.08 per share for its latest quarter.
“There simply aren’t enough stores,” Zekulin told CNBC’s “Squawk Alley.”
Zekulin said the company “took the necessary steps to address inven
Onetime marijuana high-flyer Canopy Growth tanks 17% after bigger than expected loss Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, cannabis, tanks, company, canadian, bigger, quarter, zekulin, told, loss, share, stores, marijuana, onetime, highflyer, expected, growth, sole, canopy, took


Onetime marijuana high-flyer Canopy Growth tanks 17% after bigger than expected loss

U.S.-listed shares of Canopy Growth plunged as much as 17% on Thursday after the Canadian cannabis producer reported a higher-than-expected loss in its fiscal second-quarter financial results, hit by restructuring charges.

Canopy, the world’s largest publicly traded cannabis company by market value, reported a loss of $1.08 per share for its latest quarter. However, revenue came in at $118.3 million, higher than analysts had been expecting.

CEO Mark Zekulin, who became Canopy’s sole chief executive after the ouster of co-founder Bruce Linton in July, told CNBC on Thursday that the quarter has been challenging for the Canadian cannabis sector broadly due to slower-than-expected expansion on marijuana retail stores.

“There simply aren’t enough stores,” Zekulin told CNBC’s “Squawk Alley.” “If there’s nowhere to sell consumer products, then it’s very difficult to have the type of revenues everybody expected.”

Zekulin added retail expansion is an “easy problem to fix,” saying the Canadian government has acknowledged it needs more stores.

“We now have enough supply to allow them to do that,” he said. “We need to see a lot more stores so people have access.”

The company also said it took a restructuring charge of $24.71 million during the quarter for returns, return provisions, and price cuts related to its softgel and oil portfolio.

Zekulin said the company “took the necessary steps to address inventory levels on our oils and softgels,” and looking ahead, expects fundamentals to be strong.

The introduction of Cannabis 2.0, marijuana derivatives including edibles and beverages, is also likely to create excitement and generate sales, he added.

Zekulin has taken the reins as sole CEO of Canopy as he leads a search to find a new chief. He said Thursday that the company is down to a few “extraordinary” candidates.

“We still remain hopeful to be announcing something in a couple of weeks,” he said.

The stock was trading around $15 per share Thursday, down 72% from its all-time high of over $56 per share it hit in Sept. 2018. Shares are down 42% year to date.


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, cannabis, tanks, company, canadian, bigger, quarter, zekulin, told, loss, share, stores, marijuana, onetime, highflyer, expected, growth, sole, canopy, took


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves in the premarket: Nike, Apple, Alibaba and more

Canada Goose (GOOS) – The outerwear maker earned 57 cents per share (Canadian) for its latest quarter, 13 cents above estimates, and revenue came in well above forecasts. Nike (NKE) – Nike products will no longer be available for sale on Amazon.com (AMZN), with Nike saying it had decided to focus on its own direct-sales business. SmileDirectClub (SDC) -SmileDirectClub posted a quarterly loss of 83 cents per share, smaller than the 98 cent per share loss that Wall Street was expecting. Apple (AAP


Canada Goose (GOOS) – The outerwear maker earned 57 cents per share (Canadian) for its latest quarter, 13 cents above estimates, and revenue came in well above forecasts.
Nike (NKE) – Nike products will no longer be available for sale on Amazon.com (AMZN), with Nike saying it had decided to focus on its own direct-sales business.
SmileDirectClub (SDC) -SmileDirectClub posted a quarterly loss of 83 cents per share, smaller than the 98 cent per share loss that Wall Street was expecting.
Apple (AAP
Stocks making the biggest moves in the premarket: Nike, Apple, Alibaba and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: peter schacknow
Keywords: news, cnbc, companies, making, revenue, stocks, loss, apple, moves, share, biggest, cents, quarter, estimates, street, expected, premarket, nike, wall, alibaba, products


Stocks making the biggest moves in the premarket: Nike, Apple, Alibaba and more

Check out the companies making headlines before the bell:

Tech Data (TECD) – The technology products and services distributor agreed to be acquired by affiliates of Apollo Global Management (APO) for $130 per share, or about $5.4 billion.

Canada Goose (GOOS) – The outerwear maker earned 57 cents per share (Canadian) for its latest quarter, 13 cents above estimates, and revenue came in well above forecasts. Results were helped by strong revenue growth in key markets, including a doubling of sales in Asia.

Energizer Holdings (ENR) – The maker of Energizer batteries and other consumer products beat estimates by 12 cents with adjusted quarterly earnings of 93 cents per share, with revenue also coming in above estimates. Sales were helped by acquisitions in the company’s battery and auto care businesses.

Luckin Coffee (LK) – The China-based coffee chain lost 32 cents per share for its latest quarter, smaller than the 37 cent loss anticipated by analysts; revenue was above forecasts. The Starbucks (SBUX) rival also forecast better than expected current-quarter revenue.

Nike (NKE) – Nike products will no longer be available for sale on Amazon.com (AMZN), with Nike saying it had decided to focus on its own direct-sales business.

SmileDirectClub (SDC) -SmileDirectClub posted a quarterly loss of 83 cents per share, smaller than the 98 cent per share loss that Wall Street was expecting. The dental products maker also saw revenue come in better than expected, but noted that losses will continue this quarter as expenses climb.

Apple (AAPL) – Apple was rated “outperform” in new coverage at RBC Capital, which said Apple has avenues for deeper integration into its customers’ lives.

Tilray (TLRY) – Tilray lost 34 cents per share for the third quarter, 5 cents more than analysts were anticipating, though the cannabis producer did see revenue beat Wall Street estimates. Tilray revenue quintupled from a year earlier, as it added new business lines and products.

Tesla (TSLA) – The automaker plans to build its first European factory in Berlin, Chief Executive Officer Elon Musk said on Tuesday.

Alibaba (BABA) – The China-based e-commerce retailer is expected to launch its $15 billion Hong Kong IPO in the last week of November, sources told CNBC. The timing is unclear, though, as Reuters reported that the listing could come as soon as this week, but Hong Kong’s ongoing protests could also push it beyond November.

Datadog (DDOG) – Datadog lost 4 cents per share for the third quarter, smaller than the 14 cent loss expected by Wall Street, and the enterprise software also saw revenue exceed analyst estimates. Datadog, which went public in September, also gave an upbeat current quarter forecast.

ADT (ADT) – ADT reported better than expected results for its latest quarter, and the provider of fire and security systems also declared a one-time special dividend of 70 cents per share.

CyberArk Software (CYBR) – The cybersecurity software company announced its intention to offer $500 million in convertible debt, subject to market conditions.

United Airlines (UAL) – United was rated “buy” in new coverage at UBS, which said the carrier had superior cost management compared to its rivals that could support profit margin expansion.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: peter schacknow
Keywords: news, cnbc, companies, making, revenue, stocks, loss, apple, moves, share, biggest, cents, quarter, estimates, street, expected, premarket, nike, wall, alibaba, products


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

WeWork tells investors it lost $1.25 billion in the third quarter

Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018. WeWork’s losses continued to mount in the third quarter, reflecting a fast-growth strategy undertaken by ousted CEO Adam Neumann, according to a slide deck the company presented to investors. The deck showed losses of $1.25 billion (unadjusted), up more than 150% from a loss of $497 million in the same period a y


Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018.
WeWork’s losses continued to mount in the third quarter, reflecting a fast-growth strategy undertaken by ousted CEO Adam Neumann, according to a slide deck the company presented to investors.
The deck showed losses of $1.25 billion (unadjusted), up more than 150% from a loss of $497 million in the same period a y
WeWork tells investors it lost $1.25 billion in the third quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: matt rosoff sally shin, matt rosoff, sally shin
Keywords: news, cnbc, companies, million, according, 125, lost, space, week, investors, company, deck, billion, corp, wework, quarter, losses, tells


WeWork tells investors it lost $1.25 billion in the third quarter

Corp. Chief Executive Officer Masayoshi Son speaks during a joint announcement with Toyota Motor Corp. to make new venture to develop mobility services in Tokyo, Japan, 04 October 2018.

WeWork’s losses continued to mount in the third quarter, reflecting a fast-growth strategy undertaken by ousted CEO Adam Neumann, according to a slide deck the company presented to investors.

The deck showed losses of $1.25 billion (unadjusted), up more than 150% from a loss of $497 million in the same period a year earlier. Revenue almost doubled to $934 million from $482 million. The company also said that occupancy rates had decreased to 79%, its lowest figure since mid-2017, as a result of a rapid buildout of new space.

WeWork added 115,000 new desks during the quarter, which the company called a record. According to a report last week from real estate firm CBRE, WeWork accounted for 69% of U.S. coworking space leases in the third quarter and was the top leaser in nine of the 10 biggest markets for flexible space growth.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: matt rosoff sally shin, matt rosoff, sally shin
Keywords: news, cnbc, companies, million, according, 125, lost, space, week, investors, company, deck, billion, corp, wework, quarter, losses, tells


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Walmart and Nvidia earnings, Powell testimony: 3 things to watch for in the markets on Thursday

The world’s largest retailer reports third quarter earnings before the bell on Thursday. Bank of America Merrill Lynch is expecting Walmart to report earnings per share of $1.06, compared to the $1.08 per share earned in the same quarter last year. The firm forecasts revenue of $127.961 billion, topping $124.89 billion in revenue a year ago. Bank of America and Cowen named Walmart and Target two of the top retail stocks heading into the holiday season. Shares of Walmart are up nearly 28% this ye


The world’s largest retailer reports third quarter earnings before the bell on Thursday.
Bank of America Merrill Lynch is expecting Walmart to report earnings per share of $1.06, compared to the $1.08 per share earned in the same quarter last year.
The firm forecasts revenue of $127.961 billion, topping $124.89 billion in revenue a year ago.
Bank of America and Cowen named Walmart and Target two of the top retail stocks heading into the holiday season.
Shares of Walmart are up nearly 28% this ye
Walmart and Nvidia earnings, Powell testimony: 3 things to watch for in the markets on Thursday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, revenue, billion, watch, share, powell, growth, walmart, bank, things, testimony, earnings, markets, quarter, nvidia, retail, america


Walmart and Nvidia earnings, Powell testimony: 3 things to watch for in the markets on Thursday

Here are the most important things to know about Thursday before you hit the door.

The world’s largest retailer reports third quarter earnings before the bell on Thursday. Bank of America Merrill Lynch is expecting Walmart to report earnings per share of $1.06, compared to the $1.08 per share earned in the same quarter last year. The firm forecasts revenue of $127.961 billion, topping $124.89 billion in revenue a year ago.

Bank of America estimates 35% growth in Walmart’s e-commerce business “supported by expansion of grocery pick-up and delivery,” said Bank of America analyst Robert Ohmes in a note to clients. Bank of America and Cowen named Walmart and Target two of the top retail stocks heading into the holiday season. While it’s set to be strong, Walmart will have a tough time clearing the 4.2% comp growth in Q4 of 2018, said Ohmes.

Shares of Walmart are up nearly 28% this year, while S&P 500 Retail ETF (XRT) is up 8% since January.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, revenue, billion, watch, share, powell, growth, walmart, bank, things, testimony, earnings, markets, quarter, nvidia, retail, america


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cisco stock falls as it forecasts revenue decline

Here’s how the company did:Earnings: Excluding certain items, 84 cents per share, vs. 81 cents per share as expected by analysts, according to Refinitiv. Excluding certain items, 84 cents per share, vs. 81 cents per share as expected by analysts, according to Refinitiv. Revenue: $13.16 billion, vs. $13.09 billion as expected by analysts, according to Refinitiv. Cisco CEO Chuck Robbins told analysts on a Wednesday conference call that the company faced macroeconomic pressure in the quarter. In th


Here’s how the company did:Earnings: Excluding certain items, 84 cents per share, vs. 81 cents per share as expected by analysts, according to Refinitiv.
Excluding certain items, 84 cents per share, vs. 81 cents per share as expected by analysts, according to Refinitiv.
Revenue: $13.16 billion, vs. $13.09 billion as expected by analysts, according to Refinitiv.
Cisco CEO Chuck Robbins told analysts on a Wednesday conference call that the company faced macroeconomic pressure in the quarter.
In th
Cisco stock falls as it forecasts revenue decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: jordan novet
Keywords: news, cnbc, companies, falls, revenue, stock, cents, expected, share, company, cisco, items, analysts, billion, decline, quarter, forecasts


Cisco stock falls as it forecasts revenue decline

Cisco shares fell as much as 6% after the close of trading on Wednesday after the company gave fiscal second-quarter earnings that came in below analysts’ estimates.

Here’s how the company did:

Earnings: Excluding certain items, 84 cents per share, vs. 81 cents per share as expected by analysts, according to Refinitiv.

Excluding certain items, 84 cents per share, vs. 81 cents per share as expected by analysts, according to Refinitiv. Revenue: $13.16 billion, vs. $13.09 billion as expected by analysts, according to Refinitiv.

Cisco’s revenue grew 1% on an annualized basis in the quarter, which ended on October 26, according to a statement.

Cisco CEO Chuck Robbins told analysts on a Wednesday conference call that the company faced macroeconomic pressure in the quarter. He said Cisco saw “a bit of a pause” in the quarter and that some large deals were made but “got done smaller.” He said he didn’t think the company was experiencing more competition from lesser-known hardware makers that typically sell large volumes to big buyers.

As for guidance, Cisco said it expects 75 cents to 77 cents in earnings per share, excluding certain items, and an annualized revenue decline of 3% to 5% in the fiscal second quarter. Analysts polled by Refinitiv had expected 79 cents in earnings per share, excluding certain items, on $12.77 billion in revenue, which implied 2.6% growth.

“As far as what we’d model going forward, we’ve effectively assumed that it will stay as is,” Robbins said. “I don’t think we haven’t modeled any material further deterioration or improvement I think in what we’ve put forward today.”

If the company’s revenue does go lower year over year in the next quarter, it would be for the first time since 2017. Cisco had a run of eight consecutive quarters of revenue declines.

In the fiscal first quarter Cisco’s largest business segment, Infrastructure Platforms, including switches and routers for companies’ data centers, produced $7.54 billion in revenue, down 1% year over year and missing the $7.61 billion estimate among analysts surveyed by FactSet.

Cisco’s Applications segment, including unified communications and AppDynamics, ended the quarter with $1.50 billion in revenue, higher than the $1.48 billion FactSet consensus estimate. Cisco’s security business had $815 million in quarterly revenue, more than the $723.1 million FactSet consensus.

In the quarter Cisco announced the acquisition of customer experience management company CloudCherry and speech recognition company Voicea.

On Monday Piper Jaffray analyst James Fish told clients that he has lowered his Cisco rating to neutral from the equivalent of buy. “Over the last few years, the macro-environment has provided a tailwind for networking vendors like Cisco. While digital transformation remains ongoing, we see less spending by Cisco’s customers as likely over the NTM,” Fish wrote.

Cisco stock was up 12% year to date.

WATCH: Here’s why Nuveen’s Stephanie Link picks Cisco as her last chance trade


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: jordan novet
Keywords: news, cnbc, companies, falls, revenue, stock, cents, expected, share, company, cisco, items, analysts, billion, decline, quarter, forecasts


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves after hours: SmileDirectClub, 2U Inc., Skyworks and more

2U expects revenue between $570 million and $575 million for the year, narrower than its prior guidance range of $565.7 million to $575.7 million. In its third quarter, 2U posted an adjusted net loss of 41 cents per share on revenue of $153.8 million. Tilray shares slipped more than 2% after the company reported third-quarter revenue that topped expectations. The Canadian pharmaceutical and cannabis company reported revenue of $51.1 million, exceeding the $49.5 in revenue Wall Street expected, a


2U expects revenue between $570 million and $575 million for the year, narrower than its prior guidance range of $565.7 million to $575.7 million.
In its third quarter, 2U posted an adjusted net loss of 41 cents per share on revenue of $153.8 million.
Tilray shares slipped more than 2% after the company reported third-quarter revenue that topped expectations.
The Canadian pharmaceutical and cannabis company reported revenue of $51.1 million, exceeding the $49.5 in revenue Wall Street expected, a
Stocks making the biggest moves after hours: SmileDirectClub, 2U Inc., Skyworks and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: ganesh setty
Keywords: news, cnbc, companies, making, share, shares, million, biggest, company, stocks, net, earnings, hours, revenue, thirdquarter, moves, smiledirectclub, skyworks, reported, quarter


Stocks making the biggest moves after hours: SmileDirectClub, 2U Inc., Skyworks and more

Check out the companies making headlines after the bell:

Shares of 2U Inc. surged more than 15% during extended trading after the cloud-based software company reported third-quarter earnings and updated its full-year revenue and net loss outlook. 2U expects revenue between $570 million and $575 million for the year, narrower than its prior guidance range of $565.7 million to $575.7 million. The company expects adjusted net losses to range between $78.5 million and $72.5 million, compared to last quarter’s full-year guidance of $76.9 million to $70.9 million in adjusted net losses.

In its third quarter, 2U posted an adjusted net loss of 41 cents per share on revenue of $153.8 million. The company’s shares are down approximately 54% year to date.

Shares of SmileDirectClub whipsawed after the bell, falling as much as 10% after the company reported a revenue beat in its first earnings since going public. Revenue came in at $180.2 million, exceeding Wall Street’s expectation of $165.4 million, according to Refinitiv consensus estimates. The company reported a loss of 89 cents per share, which was not comparable to analyst estimates due to inconsistencies in outstanding share counts. In its full-year outlook, SDC expects revenue between $750 million and $755 million.

Skyworks shares slid 5% despite the chipmaker’s fourth-quarter earnings beat on the top and bottom line. Skyworks reported earnings of $1.52 per share excluding certain items on revenue of $827 million, exceeding the earnings of $1.50 per share and revenue of $825 million analysts forecasted, according to Refinitiv. Skyworks’ shares reached a new year-to-date high during midday trade Tuesday.

The company also gave strong first-quarter guidance, anticipating revenue between $870 million and $890 million and adjusted diluted earnings of $1.65 per share, which is at the midpoint of their revenue range.

Tilray shares slipped more than 2% after the company reported third-quarter revenue that topped expectations. The Canadian pharmaceutical and cannabis company reported revenue of $51.1 million, exceeding the $49.5 in revenue Wall Street expected, according to Refinitiv. Tilray reported a loss of 36 cents per share, which was not comparable to analyst estimates.

Shares of Canadian Solar dropped 13% after the bell following the company’s third-quarter earnings announcement. The company posted net revenue of $759.9 million, which fell short of its prior third-quarter guidance of between $780 million and $810 million. The company said that the sequential decline in net revenue over the past few quarters stems primarily from lower revenue in the sale of solar power plants. Canadian Solar’s shares are up approximately 22% year to date.

Shares of Continental Building Products rose nearly 2% after the company announced an agreement to be acquired by Saint-Gobain in a deal worth $37 per share in cash, amounting to about $1.4 billion. In its third quarter, the company reported net sales of $127.4 million, which is a 2.9% decrease from the same quarter last year. Continental’s wallboard sale volumes increased to 705 million square feet, up 4.6% compared to the same quarter a year ago, which it said was attributable to stronger demand. Continental’s shares reached a new year-to-date high during midday trade Tuesday, and its shares are up more than 40% year to date.

Energy Transfer shares sank nearly 4% after the Associated Press reported that the FBI has begun a corruption investigation into a multi-billion dollar natural gas pipeline project headed by Pennsylvania Gov. Tom Wolf’s administration. Investigators are reportedly looking into whether Wolf and his administration forced environmental protection regulators to approve construction permits for pipelines owned by Energy Transfer.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: ganesh setty
Keywords: news, cnbc, companies, making, share, shares, million, biggest, company, stocks, net, earnings, hours, revenue, thirdquarter, moves, smiledirectclub, skyworks, reported, quarter


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Weak 2019 earnings growth paves the way for a strong 2020 earnings picture, boosting stocks

Another factor propelling the latest rally is the weak earnings in 2019 that will pave the way for a solid 2020 earnings picture. Driven by weakness in large caps like Alphabet, Boeing, Exxon Mobil and Micron the earnings growth estimate has fallen to zero. Exxon Mobil reported a 49% drop in third-quarter earnings on lower oil prices and higher costs. Earnings growth for 2020 has fallen to its lowest estimate in all of 2019, DataTrek Research noted. Kostin said due to China tariffs still in plac


Another factor propelling the latest rally is the weak earnings in 2019 that will pave the way for a solid 2020 earnings picture.
Driven by weakness in large caps like Alphabet, Boeing, Exxon Mobil and Micron the earnings growth estimate has fallen to zero.
Exxon Mobil reported a 49% drop in third-quarter earnings on lower oil prices and higher costs.
Earnings growth for 2020 has fallen to its lowest estimate in all of 2019, DataTrek Research noted.
Kostin said due to China tariffs still in plac
Weak 2019 earnings growth paves the way for a strong 2020 earnings picture, boosting stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, quarter, boosting, paves, strong, earnings, picture, thirdquarter, fallen, wall, trade, war, 2020, way, growth, stocks, 2019, weak


Weak 2019 earnings growth paves the way for a strong 2020 earnings picture, boosting stocks

Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 15, 2019 at Wall Street in New York City. JOHANNES EISELE | AFP | Getty Images

Earnings in 2019 are setting a low bar to clear in 2020, paving the way for stocks to continue their record-setting rally, according to Wall Street strategists. Third-quarter earnings are slated to see a 2.4% drop from last year’s third quarter, according to DataTrek Research. The first and second quarter saw 0.4% declines in earnings from the same periods last year. Plus, the fourth quarter is looking like another tough quarter with analysts estimating a 1.1% fall in earnings from 2018. “Markets rallying to new highs clearly indicates that marginal investors believe 2019’s no-growth earnings will make for easy comps in 2020 if the US-China trade war abates,” said Nicholas Colas, co-founder of DataTrek Research, in a note called “2020: The Year of Easy Earnings Comps.” The Dow Jones Industrial Average, S&P 500 and Nasdaq hit all-time record highs Thursday. A rate cut from the Federal Reserve a week prior and trade war optimism between the U.S. and China contributed to the stock market surge. Another factor propelling the latest rally is the weak earnings in 2019 that will pave the way for a solid 2020 earnings picture.

As forward earnings estimates have fallen since the start of October, stocks have rallied. Analysts expected 3% earnings growth in the fourth quarter on Oct 1. Driven by weakness in large caps like Alphabet, Boeing, Exxon Mobil and Micron the earnings growth estimate has fallen to zero. For the third-quarter, Google’s parent company reported earnings of $10.12 per share, compared to the $13.06 per share earned in the same period of 2018. Boeing reported a more than 50% slide in third-quarter profit, as the aerospace giant maker struggles to recover from two fatal crashes of its top-selling 737 Max aircraft. Exxon Mobil reported a 49% drop in third-quarter earnings on lower oil prices and higher costs. And chipmaker Micron saw a 39% decline in revenue from last year, weighed on by the U.S.-China trade war. Given this weaker data, analysts are estimating EPS to be flat year over year, according to Bank of America. In that time, the S&P 500 has gained nearly 4%. “Commentary on earnings calls has suggested weakening trends, but optimism is building,” said Bank of America equity and quant strategist Savita Subramanian in a note to clients. Earnings growth for 2020 has fallen to its lowest estimate in all of 2019, DataTrek Research noted. At the end of the second quarter this year, Wall Street estimated 12.9% earnings growth for 2020. That has fallen to 9.9%. And Goldman Sachs expects estimates will come down further to about 6% growth in 2020. But the firm said this trend is not problematic for stocks. “Looking into 2020, although consensus expectations for 9% EPS growth appear too optimistic, modest negative revisions should not pose a major risk to the market,” said David Kostin, chief U.S. equity strategist at Goldman Sachs. Kostin said due to China tariffs still in place, 2020 earnings revisions in its China exposure basket have been among the most negative.

What does this mean for valuations?


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, quarter, boosting, paves, strong, earnings, picture, thirdquarter, fallen, wall, trade, war, 2020, way, growth, stocks, 2019, weak


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hong Kong protests haven’t hurt our profitability, say bank CEOs

Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way. Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter. Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS’ overall profits in the third quarter this year. Piyush Gupta, CEO of DBS, told CNBC’s Tanvir Gill that he doesn’t an


Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way.
Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter.
Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS’ overall profits in the third quarter this year.
Piyush Gupta, CEO of DBS, told CNBC’s Tanvir Gill that he doesn’t an
Hong Kong protests haven’t hurt our profitability, say bank CEOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: yen nee lee
Keywords: news, cnbc, companies, hurt, havent, portfolio, bank, dbs, singapore, problem, hong, serious, profitability, quarter, yearonyear, profit, kong, protests, ceos, say


Hong Kong protests haven't hurt our profitability, say bank CEOs

Pro-democracy protests have hurt the Hong Kong economy, but the chief executives of two major banks said their businesses in the city have not been affected in a big way.

Singaporean bank DBS said on Monday that net profit for its Hong Kong business jumped 14% year-on-year in the July-to-September quarter. That performance came on the back of a 15% year-on-year rise in overall profit for the quarter to 1.63 billion Singapore dollars ($1.2 billion), which beat analyst estimates compiled by Refinitiv.

Hong Kong contributed around 334 million Singapore dollars, or 20%, of DBS’ overall profits in the third quarter this year.

Piyush Gupta, CEO of DBS, told CNBC’s Tanvir Gill that he doesn’t anticipate a “serious problem” with the bank’s loan book in Hong Kong. But the bank has set aside some money as a precaution for any losses in its Hong Kong business, he added.

“The underlying portfolio, we’re not seeing any stress: Delinquencies are not picking up, payment rates are on track and the portfolio is extremely well secured,” he said at the Singapore FinTech Festival.

“So I don’t really anticipate (a) serious problem with the credit portfolio in the coming year, it’s just to be abundantly cautious we kept some money aside just in case,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: yen nee lee
Keywords: news, cnbc, companies, hurt, havent, portfolio, bank, dbs, singapore, problem, hong, serious, profitability, quarter, yearonyear, profit, kong, protests, ceos, say


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post