Sunday, 29 May 2022

Albertsons Cos. Guides FY21 Adj. EPS In Line; Q4 Results Top Estimates

CarMax Inc. Q4 Income Drops, misses estimates

CarMax Inc. (KMX) announced a profit for fourth quarter that decreased from last year and missed the Street estimates.

The company’s earnings totaled $159.84 million, or $0.98 per share. This compares with $209.95 million, or $1.27 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 49.0% to $7.69 billion from $5.16 billion last year.

CarMax Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $159.84 Mln. vs. $209.95 Mln. last year.
-EPS (Q4): $0.98 vs. $1.27 last year.
-Analyst Estimates: $1.25
-Revenue (Q4): $7.69 Bln vs. $5.16 Bln last year.

Takeda Pharma Says Phase 3 SHP643-301 Study Of Takhzyro Meets Objectives

Japan’s Takeda Pharmaceutical Co. Ltd. (TAK) announced Tuesday that the Phase 3 SHP643-301 study (NCT04070326) evaluating the safety profile and pharmacokinetics (PK) of Takhzyro (lanadelumab) in patients 2 to <12 years of age is complete and has met its objectives.

The safety profile was consistent with that seen in the clinical program for patients 12 years of age and older, with no serious adverse events and no dropouts due to adverse events.

The study also successfully reached the secondary objective evaluating the clinical activity/outcome of Takhzyro in preventing hereditary angioedema (HAE) attacks as well as characterizing the pharmacodynamics of TAKHZYRO in pediatric subjects 2 to <12 years of age.

SHP643-301, also known as the SPRING study, is a multicenter, open-label Phase 3 study to evaluate the safety, PK and PD of TAKHZYRO for prevention against acute attacks of HAE in pediatric patients 2 to <12 years of age. Takhzyro is a fully human monoclonal antibody that specifically binds and decreases plasma kallikrein and is indicated for routine prevention of recurrent attacks of HAE in patients aged 12 years and older.

American Airlines Lifts Q1 Revenue Outlook – Quick Facts

American Airlines disclosed in a regulatory filing that it expects its first quarter total revenue to be down approximately 16% versus the first quarter of 2019, which is better than the company’s recent guidance of down approximately 17%.

The company flew 59.5 billion total available seat miles in the first quarter, down 10.7% versus the first quarter of 2019.

The company expects its first quarter Cost per available seat mile or CASM, excluding fuel and net special items, to be up between 12% and 13% versus the first quarter of 2019, compared to its previous guidance of up between 11% and 13%.

The Company expects to end the first quarter with approximately $15.5 billion in total available liquidity.

The company expects to report net special items of approximately $160 million in the first quarter before the effect of taxes. Net special items principally include a non-cash impairment charge to write down the carrying value of the company’s retired Airbus A330 fleet to the estimated fair value due to current market conditions for certain used aircraft.

The company retired its Airbus A330 fleet in 2020 as a result of the decline in demand for air travel due to the COVID-19 pandemic.

Pre-market Movers: BDSX, AGLE, VERU, CJJD, HYRE…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Biodesix, Inc. (BDSX) is up over 74% at $2.78
Aeglea BioTherapeutics, Inc. (AGLE) is up over 32% at $3.23
Veru Inc. (VERU) is up over 16% at $14.32
HyreCar Inc. (HYRE) is up over 15% at $2.28
Zentek Ltd. (ZTEK) is up over 13% at $3.00
Oil States International, Inc. (OIS) is up over 11% at $7.54
Indonesia Energy Corporation Limited (INDO) is up over 10% at $16.70
Houston American Energy Corp. (HUSA) is up over 5% at $3.39

In the Red

China Jo-Jo Drugstores, Inc. (CJJD) is down over 16% at $2.17
Sunshine Biopharma, Inc. (SBFM) is down over 14% at $4.03
Blue Water Vaccines, Inc. (BWV) is down over 10% at $7.20
Myovant Sciences Ltd. (MYOV) is down over 9% at $12.60
Victoria’s Secret & Co. (VSCO) is down over 6% at $45.41
PolyMet Mining Corp. (PLM) is down over 5% at $3.26

Gold Edges Higher Ahead Of US Inflation Data

Gold prices edged higher on Tuesday despite a firmer dollar and mounting pressure from higher U.S. Treasury yields.

Spot gold edged up 0.2 percent to $1,957.26 per ounce, while U.S. gold futures were up 0.4 percent at $1,955.

The dollar edged higher and bond yields rose ahead of U.S. consumer inflation data that is expected to show consumer prices gained the most in four decades.

Reports on U.S. producer price inflation, retail sales and industrial production due later in the week may also impact expectations regarding how aggressively the Federal Reserve plans to tighten monetary policy.

Investors also looked ahead to the ECB meeting after minutes from the March meeting turned out to be hawkish.

German consumer price index rose 7.3 percent year-on-year, after a 5.1 percent increase in February, final data from Destatis showed earlier today.

This was the biggest rate since German reunification and also matched the preliminary estimate published on March 30.

Albertsons Cos. Guides FY21 Adj. EPS In Line; Q4 Results Top Estimates

While reporting financial results for the fourth quarter on Tuesday, food and drug retailer Albertsons Companies, Inc. (ACI) initiated its adjusted earnings and identical sales guidance for the full-year 2022.

For fiscal 2022, the company now projects adjusted earnings in a range of $2.70 to $2.85 per share on identical sales growth of 2 to 3 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.78 per share on net sales growth of 2.30 percent to $72.76 billion for the year. Analysts’ estimates typically exclude special items.

For the fourth quarter, net income was $455.1 million or $0.79 per Class A common share, compared to a net loss of $144.2 million or $0.37 per Class A common share in the prior-year quarter.

Excluding items, adjusted net income was $0.75 per Class A common share, compared to $0.60 per Class A common share in the year-ago quarter.

Net sales and other revenue increased to $17.38 billion from $15.77 billion in the same quarter last year, primarily driven by a 7.5 percent increase in identical sales and higher fuel sales. Identical sales growth was 19.3 percent on a two-year stacked basis.

The Street was looking for earnings of $0.64 per share on net sales of $16.74 billion for the quarter.

The Company also announced the next quarterly dividend of $0.12 per share of Class A common stock, payable on May 10, 2022 to stockholders of record as of April 26, 2022.

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