Stock Alert: Trillium Hits New High
American Eagle Outfitters Reports Better Than Expected Q2 Results – Quick Facts
American Eagle Outfitters, Inc. (AEO) reported a second quarter adjusted loss per share of $0.03 compared to profit of $0.39, last year. The company noted that its adjusted results for the quarter excluded $0.05 of COVID-19 related expenses and restructuring costs. On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.16, for the quarter. Analysts’ estimates typically exclude special items.
For the 13 weeks ended August 1, 2020, total net revenue decreased 15% to $884 million, compared to $1.04 billion for the 13 weeks ended August 3, 2019. The company said the decline largely reflected store closures during the second quarter. Analysts expected revenue of $847.79 million, for the quarter.
American Eagle Outfitters currently does not anticipate declaring a dividend for the rest of the year. The company’s first quarter cash dividend was deferred until 2021, and will be payable on April 23, 2021 to stockholders of record at the close of business on April 9, 2021.
Ukraine's border is open to Belarusians, says foreign minister
LISBON (Reuters) – Ukraine’s Foreign Minister Dmytro Kuleba said on Wednesday that his country was open to the citizens of Belarus but would react ‘harshly’ to any attempts by Belarusian or Russian intelligence services to abuse that openness.
Speaking at an event in Lisbon, Kuleba also said any strengthening of Russia’s position in Belarus as a result of the unrest there was a threat to Ukraine’s national security.
Reopening of US colleges is 'spreading COVID-19'
The WHO says young people are now driving the spread of coronavirus, but many university students across the US have returned to class despite that warning.
The World Health Organization says young people are now driving the spread of the coronavirus.
But many university students across the US have returned to class despite that warning.
The reopening of campuses resulted in thousands of new infections, but students say they are not to blame.
Al Jazeera’s Andy Gallacher reports.
Stock Alert: Slack Technologies Declines 14%
Shares of business communication platform Slack Technologies, Inc. (WORK) are down more than 14% Wednesday morning at $25.08. It has been trading in the range of $15.10- $40.07 in the past 52 weeks.
Tuesday, Slack reported second-quarter results with revenue growth of 49% year-over-year to $215.9 million, in line with the last two quarters.
The company’s revenue growth, though steady, hasn’t been showing a sharp increase in the midst of the pandemic.
Slack reported adjusted loss of $0.00 in the second quarter, which beat the average estimate of analysts polled by Thomson Reuters at $0.03 loss per share.
Revenue for the quarter increased 49% year-over-year to $215.9 million.
For the third quarter, Slack Technologies expects revenue in the range of $222 million to $225 million and adjusted loss per share in the range of $0.06 to $0.05. Analysts expect loss of $0.05 per share on revenue of $223.73 million for the quarter.
For the full-year, revenue is expected in the range of $870 million to $876 million and adjusted loss per share in the range of $0.14 to $0.13. The consensus estimate for revenue is $872.34 million and for earnings is $0.16 loss per share.
Stock Alert: Chewy Up 5% Ahead Of Quarterly Results
Shares of Chewy Inc. (CHWY) are advancing more than 5 percent or $3.08 in Wednesday’s morning trade at $63.88.
Chewy, a subsidiary of PetSmart Inc., is an online retailer of pet food, pet supplies and pet medications. Chewy is scheduled to report its financial results for the second quarter after the market close on Thursday, September 10.
On average, analysts polled by Thomson Reuters expect the company to report loss of $0.16 per share for the quarter on revenues of $1.66 billion. Analysts’ estimates typically exclude special items.
Chewy has traded in a range of $20.62 to $74.84 in the past 52 weeks.
Longtime Netflix exec Cindy Holland replaced by Bela Bajaria in surprise shakeup
One of Netflix’s highest ranking and longest serving executives, Cindy Holland, is leaving the streaming giant.
The Los Gatos, Calif.-based company said late Tuesday that the 18-year Netflix veteran will step down and be replaced by Bela Bajaria, who is being promoted to vice president of global TV.
Holland led the streamer’s foray into original programming and helped turn the DVD-by-mail company into a major force in Hollywood and leader of the streaming revolution.
The shakeup marks the first major change under Ted Sarandos, who was recently promoted to co-Chief Executive Officer from chief content officer.
He said Tuesday that the “wanted to simplify the way our content teams operate.”
Prior to the announcement, Netflix’s original TV content portfolio had been split between Holland, who held the title of vice president of original content and oversaw all English-language programming, and Bajaria, vice president of local language originals, who led non-English TV programming.
Now Bajaria will head the entire division, overseeing scripted and unscripted English- and local-language original programming.
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Stock Alert: Trillium Hits New High
Shares of clinical-stage immuno-oncology company Trillium Therapeutics Inc. (TRIL) are surging more than 35% Wednesday morning on the news of a $25 million equity investment by Pfizer in the company.
The stock hit a new high of $14.15 this morning.
Trillium has agreed to sell 2,297,794 of its shares to Pzier at $10.88 per share, the company said.
The offering is expected to close by September 10, 2020.
Also, Dr. Jeff Settleman, Senior Vice President and Chief Scientific Officer, Oncology, Worldwide Research, Development & Medical, Pfizer, has agreed to join Trillium’s Scientific Advisory Board (SAB), once formed, the company added.