Stock Alert: Splunk Rises 8% On Better Than Estimated Earnings

Alibaba Q4 Adj. Profit Rises, Revenue Up 22%; Issues FY21 Guidance

Alibaba Group Holding Limited (BABA) reported fourth quarter non-GAAP earnings per share of RMB 1.15 or $0.16, an increase of 7% year-over-year. Non-GAAP earnings per ADS was RMB 9.20 or $1.30, an increase of 7%. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87 for the quarter. Analysts’ estimates typically exclude special items. Adjusted EBITDA increased 1% year-over-year to RMB 25.44 billion or $3.59 billion.

Fourth quarter revenue was RMB 114.31 billion or $16.14 billion, an increase of 22% from prior year. Analysts expected revenue of $15.20 billion for the quarter.

For fiscal 2021, Alibaba Group expects to generate revenue of over RMB 650 billion.

Deere And Co Profit Retreats In Q2

Deere And Co (DE) announced earnings for second quarter that decreased from the same period last year.

The company’s earnings came in at $0.67 billion, or $2.11 per share. This compares with $1.14 billion, or $3.52 per share, in last year’s second quarter.

Analysts had expected the company to earn $1.80 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 18.4% to $9.25 billion from $11.34 billion last year.

Deere And Co earnings at a glance:

-Earnings (Q2): $0.67 Bln. vs. $1.14 Bln. last year.
-EPS (Q2): $2.11 vs. $3.52 last year.
-Analysts Estimate: $1.80
-Revenue (Q2): $9.25 Bln vs. $11.34 Bln last year.

African music star Mory Kante dies aged 70

Singer Mory Kante, who helped bring African music to world audiences with hits like Yeke Yeke, has died in Guinea

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Jennifer Kupcho to headline CoBank Colorado Women’s Open this June – The Denver Post


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UK PM Johnson could meet U.S. President Trump at G7 – The Sun

LONDON, May 22 (Reuters) – British Prime Minister Boris Johnson could travel to the United States to meet President Donald Trump at a G7 meeting next month, The Sun newspaper reported.

A G7 meeting is scheduled for June 10, originally at Camp David in the United States. Downing Street said it was in close contact with the White House about the summit and would look at the details when they come out. (Reporting by Guy Faulconbridge and Kylie MacLellan;editing by Stephen Addison)

U.S. Consumer Sentiment Unexpectedly Improves In May

With stimulus checks improving consumers’ finances and widespread price discounting boosting buying attitudes, the University of Michigan released a report on Friday showing an unexpected improvement in U.S. consumer sentiment in the month of May.

The report said the consumer sentiment index rose to 73.7 in May after plummeting to 71.8 in April. The rebound surprised economists, who had expected the index to slip to 68.0.

The unexpected increase by the headline index came as the current economic conditions index jumped to 83.0 in May from 74.3 in April.

On the other hand, the report said the index of consumer expectations fell to 67.7 in May from 70.1 in the previous month.

“Personal financial prospects for the year ahead continued to weaken, falling to the lowest level in almost six years, with declines especially sharp among upper income households,” said Surveys of Consumers chief economist Richard Curtin

He added, “Improved views on buying conditions were due to discounted prices and low interest rates, although their impact was partially offset by uncertainties about job and income prospects.”

On the inflation front, one-year inflation expectations surged up to 3.0 percent in May from 2.1 percent in April, while five-year inflation expectations inched up to 2.6 percent from 2.5 percent.

Curtin called the jump in one-year inflation expectations “perhaps the most surprising finding” in the survey, noting there were “wide differences across age and income subgroups.”

Stock Alert: Splunk Rises 8% On Better Than Estimated Earnings

Shares of Splunk Inc. (SPLK) are climbing more than 8% Friday morning to hit a new high of $177.49, currently trading lower at $176.72.

Splunk makes software for searching, monitoring, and analyzing machine-generated big data via a Web-style interface.

When the company reported first-quarter results yesterday, adjusted loss per share of $0.56 beat the consensus estimate of analysts polled by Thomson Reuters at $0.57 loss per share.

Revenue in the quarter increased 2% year-over-year at $434 million, missed estimates of $442.85 million.

The company has recently been added to Fortune 1000.

“COVID-19 has transformed the world into one that requires rapidly accelerated digital transformation to keep organizations moving – we are seeing some resilient customers complete three-to-five-year projects in just months. As customers continue to adapt to this new normal, data matters more than ever, evidenced by our continued strong momentum this quarter,” said Doug Merritt, President, and CEO, Splunk.