Be a Smart Investor: August 2022

Wednesday, August 31, 2022

Vera Bradley Trims FY23 Outlook After Slipping To Loss In Q2

While reporting financial results for the second quarter on Wednesday, Vera Bradley, Inc. (VRA) trimmed its earnings and revenue guidance for the full-year 2023, as it expects the challenging macroeconomic environment to continue for the balance of the year.

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Chico's FAS Boosts FY22 Outlook As Q2 Results Top Estimates

Fashion retailer Chico's Fas Inc. (CHS) on Wednesday reported that net income for the second quarter surged to $41.96 million or $0.34 per share from $26.19 million or $0.21 per share in the year-ago quarter, driven by strong comparable sales growth and gross margin expansion.

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Baidu Swings To Profit In Q2, But Revenue Down 5%

Chinese Internet company Baidu.com reported Tuesday a profit for the second quarter compared to a loss last year, which was weighed down by a hefty fair value loss from long-term investments. The company said it continued to optimize costs and enhance operational efficiency.

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Best Buy Slashes FY23 Comp Sales Outlook - Update

While reporting financial results for the second quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) slashed its comparable sales growth guidance for the full-year 2023 and provided comparable sales growth outlook for the third quarter.

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IQIYI Reports Narrower Loss In Q2, Announces $500 Mln Private Placement With PAG

Chinese online entertainment service company iQIYI, Inc. (IQ) Tuesday announced loss for the second quarter that narrowed from the prior year.

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JinkoSolar Slips To Loss In Q2

JinkoSolar Holding Co., Ltd. (JKS) reported Friday that net loss attributable to the company's ordinary shareholders for the second quarter was RMB623.3 million or US$93.1 million, compared to net income of RMB66.2 million in the prior-year quarter. Loss per ADS was RMB12.60 or US$1.88, compared to earnings per ADS of RMB1.38 last year.

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Walmart To Join With MyQ Technology For In Garange Delivery

Walmart Inc. (WMT) will join with myQ smart garage technology to expand in garage delivery through Walmart+InHome. Using the myQ app, Walmart+InHome members could get delivery of groceries and other essentials online from Walmart at their garage. Returns also could be managed in a secure and controlled manner.

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Abercrombie & Fitch, Dollar Tree Q2 Revenues Miss Estimates; Both Slash Outlook

U.S. retailers Abercrombie & Fitch Co. and Dollar Tree Inc. on Thursday reported results for the second quarter, with results at Abercrombie & Fitch missing analysts' estimates, while earnings at Dollar Tree surpassed analysts' expectations by a penny, but quarterly revenues missed them. Both Abercrombie & Fitch and Dollar Tree slashed their respective guidance for the full-year 2022.

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Hain Celestial Q4 Net Profit Plunges

Organic and natural products company Hain Celestial Group, Inc. (HAIN) on Thursday reported that net income for the fourth quarter plunged to $3.04 million or $0.03 per share from $40.49 million or $0.40 per share in the prior-year quarter.

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Movado Group Q2 Net Profit Rises; Trims FY23 Net Sales Outlook

Luxury watch maker Movado Group, Inc. (MOV) reported Thursday that net income attributable to Movado for the second quarter grew to $24.0 million or $1.05 per share from $19.41 million or $0.82 per share in the prior-year quarter.

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Brinker International Q4 Results Meet Estimates; Guides FY23 Adj. EPS Below View

Casual dining restaurant owner Brinker International, Inc. (EAT) reported Wednesday that net income for the fourth quarter declined to $40.2 million or $0.90 per share from $75.0 million or $1.58 per share in the prior-year quarter.

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TDCX Q2 Profit Gains 19.6%, Reiterates FY22 Revenue Outlook

TDCX Inc. (TDCX) Wednesday reported 19.6 percent increase in second-quarter profit compared to the prior year, supported by 23.3 percent increase in revenues. For the full year 2022, the company reiterated its revenue growth outlook.

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Macy's, DICK'S Q2 Results Down; Adjust FY22 Outlook

Retailers Macy's, Inc. and DICK'S Sporting Goods Inc. reported weak profit and sales in their respective second quarters. However, adjusted earnings topped market estimates. The companies also adjusted their fiscal 2022 outlook. While Macy's trimmed its full-year guidance, sporting goods retailer raised its earnings and consolidated same store sales guidance for the full-year 2022.

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Dole Q2 Adj. EPS Tops Estimates, But Revenues Miss; Slashes FY22 Outlook

Fresh produce supplier Dole plc (DOLE) reported Tuesday that net income attributable to Dole for the second quarter surged to $41.3 million or $0.43 per share from $29.2 million or $0.52 per share in the prior-year quarter. Excluding items, adjusted income was $0.44 per share, compared to $0.74 per share in the year-ago quarter.

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DICK'S Sporting Boosts FY22 Outlook As Q2 Results Top Estimates

While reporting financial results for the second quarter on Tuesday, sporting goods retailer DICK'S Sporting Goods Inc. (DKS) raised its earnings, adjusted earning and consolidated same store sales guidance for the full-year 2022.

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Macy's Cuts FY22 Guidance

While reporting second-quarter results on Tuesday, Macy's, Inc. (M) lowered its outlook for the remainder of the year to incorporate the risk in the continued deterioration of consumer discretionary spending in some of the categories and the level of inventory within the industry, as well as risks associated with a more pronounced macro downturn.

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JD.com Q2 Net Profit Soars; Revenue Up 5.4%

e-commerce company JD.com, Inc. (JD) reported Tuesday that net income attributable to ordinary shareholders for the second quarter was RMB4.38 billion or $0.65 billion, compared to RMB0.79 billion in the year-ago quarter. Net income per ADS was RMB2.74 or $0.41, compared to RMB0.50 last year.

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Medtronic Reiterates FY23 Outlook - Update

While reporting financial results for the first quarter on Tuesday, medical devices maker Medtronic plc. (MDT) reiterated its adjusted earnings and revenue growth guidance for the full-year 2023.

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Foot Locker, Buckle Q2 Earnings Decline

Specialty athletic retailer Foot Locker, Inc. reported Friday a second-quarter net profit that plunged from last year, hurt by a sales decline amid markdowns. Quarterly sales met Street estimates. The company also trimmed it adjusted earnings and sales growth guidance for the full-year 2022.

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Kohl's Slashes FY22 Outlook; Stock Down 7% - Update

While reporting financial results for the second quarter on Thursday, department store chain Kohl's Corp. (KSS) slashed its adjusted earnings and sales growth guidance for the full-year 2022.

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Lowe's, TJX Q2 Revenues Miss Estimates, But Target Revenues Met It

Home improvement retailer Lowe's Cos., Inc. reported Wednesday an increase in earnings per share for the second quarter that also topped analysts' estimates. However, quarterly sales edged down and missed expectations. The company also reaffirmed its guidance range for the full-year 2022.

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TJX Companies Slashes FY23 Outlook - Update

While reporting financial results for the second quarter on Wednesday, off-price retailer TJX Companies, Inc. (TJX) provided financial outlook for the third and the fourth quarters as well as slashed its guidance for the full-year 2023.

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ZIM Integrated Shipping Q2 Results Top Estimates

ZIM Integrated Shipping Services Ltd. (ZIM), a global container liner shipping company, reported Wednesday that net income for the second quarter surged to $1.34 billion or $11.07 per share from $888 million or $7.38 per share in the prior-year quarter.

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Analog Devices Guides Q4 In Line With Estimates, Declares Dividend - Update

While reporting financial results for the third quarter on Wednesday, semiconductor company Analog Devices Inc. (ADI) provided earnings and revenue guidance for the fourth quarter, in line with analysts' expectations.

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Target Q2 Profit Misses Estimates

Target Corp. (TGT) reported that its second quarter adjusted EPS decreased 89.2 percent from a year ago. Operating income margin rate was 1.2 percent, compared with 9.8 percent, last year. Gross margin rate was 21.5 percent, compared with 30.4 percent. The company said its gross margin rate reflected higher markdown rates, driven primarily by inventory impairments and actions taken to address lower-than-expected sales in discretionary categories, as well as higher merchandise, inventory shrink, and freight costs. Also, gross margin rate was pressured by increased compensation and headcount in distribution centers, the costs of managing excess inventory, and higher per-unit last-mile shipping costs.

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Walmart Q2 Profit Up 20%; Revenues Top Estimates

Retail giant Walmart reported Tuesday a net profit for the second quarter that grew 20.4 percent from last year, reflecting lower operating expenses and partially inflation driven revenue growth. The results were also driven by the rebound in international markets. Quarterly revenues topped analysts' expectations. The retailer also raised its adjusted earnings guidance for the full-year 2023.

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Premier Q4 Net Profit Declines

Healthcare company Premier, Inc. (PINC) reported Monday that net income for the fourth quarter declined to $30.7 million or $0.25 per share from $50.7 million or $0.40 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.61 per share, compared to $0.60 per share in the year-ago quarter.

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Accelerate Diagnostics Q2 Net Loss Narrows

Vitro diagnostics company Accelerate Diagnostics, Inc. (AXDX) announced Monday that net loss for the second quarter narrowed to $17.80 million or $0.23 per share from $21.67 million or $0.36 per share in the prior-year quarter.

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Altus Power Swings To Profit In Q2; Reaffirms FY22 Outlook

Altus Power, Inc. (AMPS) announced Monday second-quarter net income attributable to Altus of $24.12 million or $0.16 per share, compared to a net loss of $1.19 million or $0.01 per share in the prior-year quarter.

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Henkel H1 Profit Down, Backs FY22 Adj. Earnings View; Lifts Sales Forecast

German consumer goods maker Henkel AG & Co. reported Monday weak profit in its first half amid increasing costs, despite growth in sales. Further, the company maintained its adjusted earnings forecast for fiscal 2022, but raised outlook for organic sales growth.For fiscal 2022, the company continues to expect adjusted earnings per preferred share to decline in the range of 15 percent to 35 percent

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PLx Pharma Q2 Loss Top Estimates, But Revenues Miss; Stock Down 15%

PLx Pharma Inc. (PLXP) reported Friday a second-quarter net loss attributable to common shareholders of $11.56 million or $0.43 per share, narrower than $18.71 million or $0.79 per share in the prior-year quarter.

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Mannatech Q2 Net Profit Plunges

Health and wellness company Mannatech Inc. (MTEX) reported Friday that second-quarter net income plunged to $0.69 million or $0.34 per share from $2.13 million or $0.99 per share in the prior-year quarter.

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EMagin Posts Wider Net Loss In Q2

OLED microdisplay maker eMagin Corp. (EMAN) reported Thursday a second-quarter net loss of $1.44 million or $0.02 per share, wider than $0.28 million or $0.00 per share in the prior-year quarter.

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Global Business Travel Reports Q2 Net Profit

B2B travel platform Global Business Travel Group, Inc. (GBTG) reported Thursday net income attributable to the Company for the second quarter of $21 million or $0.44 per share, compared to breakeven results in the prior-year quarter.

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Kelly Services Q3 Results Miss Estimates

Specialty talent solutions provider Kelly Services, Inc. (KELYA, KELYB) reported Thursday that its net income for the second quarter plunged to $2.2 million or $0.06 per share from $24.0 million or $0.60 per share in the prior-year quarter.

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US Foods Q2 Net Profit Declines; Reaffirms FY22 Adj. EPS Outlook

Foodservice distributor US Foods Holding Corp. (USFD) on Thursday reported second quarter net income available to common shareholders of $61 million or $0.27 per share, up from $46 million or $0.20 per share in the prior-year quarter.

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Dillard's Q2 Results Top Estimates

Luxury department store chain Dillard's, Inc. (DDS) reported Thursday a second-quarter net income of $163.4 million or $9.30 per share, lower than $185.7 million or $8.81 per share in the prior-year quarter.

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Deutsche Telekom Lifts FY22 View Despite Weak Q2 Profit; Stock Up

Shares of Deutsche Telekom AG were gaining more than 1 percent in the morning trading in Germany after the telecom major on Thursday raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter. Adjusted EBITDA AL, a key earnings metric, increased, while adjusted EBITDA AL margin dropped.

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RWE AG H1 Adj. Net Income Rises

RWE AG (RWEOY.PK) confirmed its provisional figures for the first half of 2022 and the outlook for the current year released on 27 July 2022. The Group's dividend target of 0.90 euros per share for fiscal 2022 remains unchanged.

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Wendy's Co. Boosts FY22 Adj. EPS Outlook; Q2 Adj. EPS Tops Estimates

While reporting financial results for the second quarter on Wednesday, The Wendy's Co. (WEN) raised its adjusted earnings guidance for the full-year 2022, while maintaining annual global systemwide sales growth outlook. The company also declared a quarterly dividend.

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Prudential Plc Turns To Net Profit In H1; Pre-tax Profit Down

Insurance company Prudential plc reported Wednesday a sharp drop in first-half pre-tax profit. On an after-tax basis, the company recorded a profit, compared to last year's hefty loss, due to the absence of prior year's loss from discontinued operations. Separately, Prudential announced its 2022 first interim dividend of 5.74 US cents per ordinary share, which will be paid on September 27.

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Honda Q1 Net Income Declines; Sales Revenue Up 6.9%

Honda (HMC) reported first-quarter profit to owners of the parent of 149.2 billion yen, a year-on-year decrease of 32.9%. Earnings per share was 87.23 yen compared to 128.87 yen. The company said the decline was due primarily to a decrease in the share of profit of investments accounted for using the equity method in China. Operating profit was 222.2 billion yen, a year-on-year decrease of 8.6%.

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Sysco Q4 Profit Surges, Looks Ahead To Adj. Earnings Growth In FY23

Sysco Corp. (SYY) Tuesday reported a more than a three-times surge in fourth-quarter earnings, supported by 17.5 percent growth in sales. The company projects fiscal 2023 adjusted earnings to grow.

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Ralph Lauren Affirms FY23 Revenue Growth Outlook - Update

While reporting its financial results for the first quarter on Tuesday, luxury fashion house Ralph Lauren Corp. (RL) affirmed its revenue growth guidance for the full-year 2023. It also provided revenue growth outlook for the second quarter.

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Hyatt Hotels Q2 Results Top Estimates

Hyatt Hotels Corp. (H) reported on Tuesday net income attributable to company for the second quarter of $206 million or $1.85 per share, compared to a net loss of $9 million, or $0.08 per share in the prior-year quarter.

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Alpha Metallurgical Swings To Profit In Q2; Promotes CFO Andy Eidson To CEO

Alpha Metallurgical Resources, Inc. (AMR) reported on Monday a second-quarter net income of $575.16 million or $29.97 per share, compared to a net loss of $18.99 million or $1.03 per share in the prior-year quarter.

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Tyson Foods Affirms FY22 Sales Outlook As Q2 Net Profit Edges Up

Tyson Foods, Inc. (TSN) reported Monday that its second-quarter net Income attributable to the company edged up $750 million or $2.07 per share from $749 million or $2.05 per share in the prior-year quarter.

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Viatris Trims FY22 Revenue Outlook, Declares Dividend - Update

While reporting financial results for the second quarter on Monday, healthcare company Viatris Inc. (VTRS) trimmed its total revenue guidance for the full-year 2022 to reflect the incremental impact of foreign exchange.

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ANI Pharma Q2 Adj. Earnings Misses Estimates, Reiterates FY22 Guidance

ANI Pharmaceuticals, Inc. (ANIP) Monday announced a wider loss for the second quarter, despite a 52 percent surge in revenues. For the full year 2022, the company reiterated the adjusted earnings per share range, revenue guidance and raised Cortrophin revenue outlook.

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BioNTech Q2 Results Down, Backs FY22 Vaccine Revenue View; Stock Down

Shares of BioNTech SE were losing around 4 percent in the morning trading in Germany and around 5 percent in the pre-market activity on Nasdaq after the German Covid-19 vaccine maker reported sharp drop in profit and revenues for the second quarter. However, the company recorded strong growth in first-half results. Further, the company maintained BioNTech COVID-19 vaccine revenue guidance

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IRobot Withdraws Guidance, Posts Adj. Loss In Q2; Details Cost-Reduction Actions

iRobot Corp. (IRBT) said the company has withdrawn its 2022 financial expectations issued in early May 2022, as well as its long-term financial targets provided in December 2021. Given the ongoing disruptions and uncertainty, iRobot is suspending its practice of providing financial guidance.

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American Axle Boosts FY22 Sales Outlook; Q2 Results Top Estimates

While reporting financial results for the second quarter on Friday, American Axle & Manufacturing Holdings, Inc. or AAM (AXL) raised its sales guidance for the full-year 2022.

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Twist Bioscience Q3 Results Top Estimates

Genomics company Twist Bioscience Corp. (TWST) reported Friday a net loss attributable to common stockholders for the third quarter of $60.52 million or $1.08 per share, wider than $40.04 million or $0.82 per share in the prior-year quarter.

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Canopy Growth Slips To Loss In Q1

Canopy Growth Corp. (CGC, WEED.TO) reported that its first-quarter net loss attributable to the company was C$2.08 million or C$5.23 per share, compared to net income of C$0.39 million or C$0.84 per share in the prior-year quarter.

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Fluor Trims FY22 Adj. EPS Outlook - Update

While reporting financial results for the first quarter on Friday, engineering company Fluor Corp. (FLR) trimmed its adjusted earnings guidance for the full-year 2022.

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Deutsche Post DHL Q2 Profit Climbs, Backs FY22 View; Stock Up

Shares of Deutsche Post DHL Group were gaining around 6 percent in the morning trading in Germany after the package delivery and logistic major reported Friday higher profit and revenues in its second quarter with strong demand. Going ahead, the company confirmed its 2022 EBIT guidance of 8.0 billion euros, plus or minus 5 percent, even in consideration of a possible global economic downturn.

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Eli Lilly Reduces FY22 Earnings Guidance; Revenue Outlook Remains Unchanged

Eli Lilly and Company (LLY) has lowered its 2022 reported EPS guidance by $0.34 to now be in the range of $6.96 to $7.11 and lowered non-GAAP EPS guidance by $0.25 to now be in the range of $7.90 to $8.05. The company said the $0.25 reduction in the non-GAAP EPS range is driven entirely from the impact of foreign exchange rates.

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Novo Nordisk H1 Profit Increases; Raises Full Year Outlook

Novo Nordisk (NVO) reported that its first-half operating profit increased by 26% in Danish kroner and by 14% at constant exchange rates to 37.5 billion Danish kroner. Net profit was 27.5 billion Danish kroner, up 11%. Earnings per share was 12.08 kroner compared to 10.71 kroner.

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Crédit Agricole S.A. Q2 Underlying Net Income Group Share Rises; Underlying Revenues Up 6.2%

Crédit Agricole S.A. reported that its second quarter underlying net income Group share was 1.91 billion euros, up by 18.1%. Underlying earnings per share was 0.60 euros, up 16.5%. Crédit Agricole S.A.'s stated net income Group share was 1.98 billion euros, up 0.4% from last year. Net earnings per share - stated - was 0.63 euros compared to 0.64 euros. Revenues on an underlying basis was 6.19 billion euros, an increase of 6.2%.

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Dynatrace Trims FY23 Outlook; Q1 Results Top Estimates

While reporting financial results for the first quarter on Wednesday, software intelligence provider Dynatrace, Inc. (DT) trimmed its adjusted earnings and revenue guidance for the full-year 2023. It also provided outlook for the second quarter.

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Entergy Q2 Adj. Profit Beats Estimates, Reaffirms FY22 EPS

Entergy Corp. (ETR) Wednesday reported earnings of $160 million or $0.78 per share, compared to loss of $6 million or $0.03 per share last year. On an adjusted basis, earnings were $1.78 per share.

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AmerisourceBergen Boosts FY22 Outlook; Declares Dividend - Update

While reporting financial results for the third quarter on Wednesday, AmerisourceBergen Corp. (ABC) raised its adjusted earnings guidance for the full-year 2022, driven by stronger than expected performance of several of its businesses and a lower average diluted share count.

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CVS Health Raises 2022 Earnings Guidance

CVS Health Corp. (CVS) has increased its full year 2022 adjusted EPS guidance range to $8.40 to $8.60 from prior guidance range of $8.20 to $8.40. GAAP EPS is now expected to be in a range of $7.23 to $7.43, revised from $6.93 to $7.13. The company raised cash flow from operations guidance range to $12.5 billion to $13.5 billion from $12.0 billion to $13.0 billion.

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BMW Stock Dips On Weak Q2 Profit, Delivery Outlook Revision

Shares of Bayerische Motoren Werke or BMW AG were losing around 5 percent in the morning trading in Germany after the luxury carmaker reported Wednesday weak profit and deliveries in its second quarter, while revenues were higher. Looking ahead, the company maintained fiscal 2022 profit growth view, but trimmed forecast for automotive deliveries owing to the negative impact on production.

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ATRC Sees 18-21% Revenue Growth, EVH Q2 Results Beat Estimates, EXAS Trims Outlook, HRMY On Watch...

Rigel Pharmaceuticals Inc. (RIGL) expects to report top-line results from a pivotal phase III clinical trial evaluating Fostamatinib in high-risk patients hospitalized with COVID-19 in the fourth quarter of this year.

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Zebra Technologies Guides Q3 Below Estimates; Q2 Results Top Estimates

While reporting financial results for the second quarter on Tuesday, Zebra Technologies Corp. (ZBRA) provided its adjusted earnings and adjusted net sales growth guidance for the third quarter as well as raised its adjusted net sales growth outlook for the full year 2022.

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Myers Industries Q2 Profit Spikes, Lifts FY22 Adj. Earnings Outlook

Myers Industries, Inc. (MYE) Tuesday reported a surge in second-quarter earnings, supported by 35.9 percent growth in net sales. Looking ahead, the company raised its fiscal 2022 outlook.

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IDEXX Laboratories Slashes FY22 Outlook - Update

While reporting financial results for the second quarter on Tuesday, pet healthcare provider IDEXX Laboratories, Inc. (IDXX) slashed its earnings and revenue growth guidance for the full-year 2022.

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BP Q2 Profit Climbs, Tops Estimates; Lifts Dividend, Plans Buyback; Stock Up

Shares of BP Plc were gaining around 4 percent in the morning trading in London as well as in pre-market activity on the NYSE after the British energy major reported Tuesday significantly higher profit and revenues in its second quarter. Underlying RC profit per ADS beat market estimates. The results reflected increased production and prices.

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Gartner Q2 Profit Down, Adj. Results Beat Estimates

Gartner, Inc. (IT) Tuesday reported a decline in second-quarter profit. However, on an adjusted basis earnings were above analysts view.

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AXNX Boosts Outlook Again, EHAB Trims FY22 Guidance, OM On Watch, TMDX Q2 Revenue Tops Estimate

Axonics Inc. (AXNX), which reported a narrower loss on 50% revenue growth in the second quarter ended June 30, 2022, has boosted its outlook for the year yet again.

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BP Plc Q2 Underlying RC Profit Rises YoY

BP Plc (BP.L, BP_UN.TO, BP) reported that its second quarter underlying RC profit increased to $8.45 billion from $2.80 billion, last year. Underlying RC profit per ADS was $2.61 compared to $0.83.

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ON Semiconductor Guides Q3 Revenues Well Above Estimates - Update

While reporting financial results for the second quarter on Monday, ON Semiconductor Corp. (ON) provided earnings and revenue guidance for the third quarter.

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Jacobs Engineering Guides Q4 Adj. EPS Below Estimates - Update

While reporting financial results for the third quarter on Monday, professional services provider Jacobs Engineering Group Inc. (JEC) provided its adjusted earnings outlook for the fourth quarter and reiterates its full-year 2022 outlook.

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HSBC Q2 Net Profit Climbs, Revenue View Positive; Stock Up

Shares of HSBC Holdings plc gained around 6 percent in London as well as in Hong Kong trading after the banking major reported Monday higher net profit in its second quarter, and lifted dividend. Performance benefited from global interest rate rises on revenue and strong cost discipline. Pre-tax profit, meanwhile, was nearly flat and net operating income declined.

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Wednesday, August 31, 2022

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