Monday, 18 Jan 2021

AstraZeneca, Oxford Acknowledge Manufacturing Error In Potential COVID-19 Vaccine

Donaldson Q1 Profit Tops Estimates; Sales Down 5.4% – Quick Facts

Donaldson Company, Inc. (DCI) reported that its first quarter earnings per share declined 4.4 percent to $0.48 from $0.51, prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.44, for the quarter. Analysts’ estimates typically exclude special items.

First quarter net sales declined to $636.6 million from $672.7 million, previous year. Analysts expected revenue of $614.99 million, for the quarter.

The company expects second quarter sales to be up sequentially from first quarter, with a year-over-year change between a 4 percent decline and a 1 percent increase.

Dollar General Says Seeing Continued Elevated Demand In Its Stores – Quick Facts

While reporting its financial results for the third quarter on Thursday, Dollar General Corp. (DG) said it continued to experience elevated demand in its stores. As a result, from October 31, 2020 through December 1, 2020, same-store sales increased about 14 percent as compared to the comparable timeframe in the 2019 fiscal year.

However, the company is not issuing updated fiscal 2020 sales or earnings per share guidance at this time, due to the difficulty in predicting specific outcomes.

The company continues to expect 2,780 real estate projects in fiscal 2020, including 1,000 new store openings, 1,670 remodels, and 110 store relocations.

For fiscal 2021, Dollar General plans to execute 2,900 real estate projects, including 1,050 new store openings, 1,750 remodels, and 100 store relocations.

CIBC quarterly profit slumps on U.S. commercial banking weakness

Dec 3 (Reuters) – Canadian Imperial Bank of Commerce reported a 14.3% fall in quarterly profit on Thursday, as weakness at its U.S. commercial banking and wealth management businesses offset gains in capital markets unit.

Net income attributable to equity shareholders fell to C$1.02 billion ($788.80 million), or C$2.21 per share, in the fourth quarter ended Oct. 31, from C$1.19 billion, or C$2.59 per share, a year earlier.

Dollar General Corporation Bottom Line Advances In Q3

Dollar General Corporation (DG) announced a profit for its third quarter that increased from last year.

The company’s bottom line totaled $574.26 million, or $2.31 per share. This compares with $365.55 million, or $1.42 per share, in last year’s third quarter.

Analysts had expected the company to earn $2.00 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 17.3% to $8.20 billion from $6.99 billion last year.

Dollar General Corporation earnings at a glance:

-Earnings (Q3): $574.26 Mln. vs. $365.55 Mln. last year.
-EPS (Q3): $2.31 vs. $1.42 last year.
-Analysts Estimate: $2.00
-Revenue (Q3): $8.20 Bln vs. $6.99 Bln last year.

TD Bank Group Q4 Profit Surges, Beats Estimates – Quick Facts

TD Bank Group (TD,TD.TO) on Thursday reported fourth-quarter net income of C$5.14 billion or C$2.80 per share, up sharply from C$2.86 billion or C$1.54 per share in the year-ago period.

Adjusted earnings for the quarter were C$1.60 per share, compared to C$1.59 per share in the prior-year quarter.

Fourth-quarter revenue grew to C$11.84 billion from C$10.34 billion last year. Adjusted revenue was C$10.42 billion, compared to C$10.34 billion a year ago.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$1.28 per share for the quarter on revenues of C$10.51 billion. Analysts’ estimates typically exclude special items.

Canadian Retail reported adjusted net income for the quarter of C$1.83 billion, up 3 percent from the year-ago period. U.S. Retail recorded net income of C$871 million, a decrease of 27 percent compared with last year.

Boeing’s Redesigned 737 MAX Completes First Flight With Media Onboard

Boeing Co’s 737 MAX, which has been grounded for long following two fatal crashes, conducted its first post-grounding flight with media onboard, Reuters reported.

American Airlines’ 737 MAX flight with around 90 journalists took a 45-minute journey from Dallas, Texas, to Tulsa, Oklahoma. The redesigned jet is scheduled to start its first commercial passenger flight on December 29.

Boeing’s best-selling aircraft was grounded worldwide in March 2019 after two crashes killed all 346 people aboard Lion Air Flight 610 and Ethiopian Airlines Flight 302.

The Federal Aviation Administration in mid November lifted its 20-month safety ban on the 737 Max aircraft, and on November 30, it issued first airworthiness certificate for one of the new Boeing 737 Max jets.

Reuters reported, citing industry sources, that European budget airline Ryanair was set to place a hefty order for up to 75 additional 737 MAX jets.

AstraZeneca, Oxford Acknowledge Manufacturing Error In Potential COVID-19 Vaccine

AstraZeneca and Oxford University are facing questions about the trial results of their investigational COVID-19 vaccine after they acknowledged a manufacturing error.

On Monday, AstraZeneca and the University of Oxford announced that the Coronavirus vaccine they are developing is 70 percent effective on average in a late-stage study conducted in the UK and Brazil. Surprisingly, the group of volunteers that got a lower dose seemed to be much better protected than the volunteers who got two full doses.

The volunteers that were given the half-dose showed efficacy of 90%, compared to 62% efficacy when volunteers were given two full doses.

However, a day after the results were published AstraZeneca research chief Mene Pangalos reportedly said that difference in manufacturing processes led to some participants being given a half dose instead of a full one. This has raised questions about the vaccine’s efficacy.

The British drugmaker’s CEO Pascal Soriot on Thursday reportedly said that an additional study would be conducted to evaluate a lower dosage that performed better than a full amount in AstraZeneca’s studies.

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