Sunday, 29 May 2022

China Inflation Accelerates; Factory Gate Inflation Slows

Embrace the Bittersweet With Centerbe, From Faccia Brutto

The Brooklyn company released another spirit made with organic herbs, botanicals and spices.

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By Florence Fabricant

A Spring Vegetable Matzo Brei From Breads Bakery

The store has introduced a new version with spring peas and other vegetables, made in eight-inch rounds like crustless quiches.

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By Florence Fabricant

Tata Consultancy Services Limited Bottom Line Rises In Q4

Tata Consultancy Services Limited (532540) revealed a profit for its fourth quarter that increased from the same period last year

The company’s earnings came in at $1.31 billion, or $0.36 per share. This compares with $1.27 billion, or $0.34 per share, in last year’s fourth quarter.

The company’s revenue for the quarter rose 11.9% to $6.70 billion from $5.99 billion last year.

Tata Consultancy Services Limited earnings at a glance (GAAP) :

-Earnings (Q4): $1.31 Bln. vs. $1.27 Bln. last year.
-EPS (Q4): $0.36 vs. $0.34 last year.
-Revenue (Q4): $6.70 Bln vs. $5.99 Bln last year.

Cameco Shares Reach New 52-Week High

Shares of Cameco Corp. (CCJ) reached a new 52-week high of $31.42 Monday morning, and are currently trading at $30.78, up 47 cents or 1.55%. Trading volume is rising over 2.65 million versus an average volume of 8.42 million shares.

The company last reported its Q4 results on February 9, 2022. The company’s Q4 net income was $11 million or $0.03 per share versus $80 million or $0.20 per share last year. Adjusted net income was $23 million or $0.06 per share compared to $48 million or $0.12 per share a year ago. Revenue totaled $465 million versus $550 million generated in the prior year period.

While reporting the quarterly results, the company’s board has also approved a 50% increase to its annual dividend for 2022 in alignment with 70 million pounds of additional long-term contracts added to its portfolio since the beginning of 2021 and the improving market fundamentals.

The company declared an annual dividend of $0.12 per common share, payable on December 15, 2022 to shareholders of record on November 30, 2022.

The Trick to Matzo Balls is Bubbles

Seltzer keeps them light, but beer, cider or even Champagne can do the trick.

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By Florence Fabricant

Editas Medicine Stock Slips Nearly 6%

Shares of Editas Medicine, Inc. (EDIT) are slipping nearly 6% on Monday morning after the company announced dosing of first pediatric patient in the Brilliance clinical trial of EDIT-101 for LCA10.

EDIT is currently trading at $17.30, down $1.05 or 5.72%, on the Nasdaq, on a volume of nearly 400 thousand shares, compared to average volume of 1.9 million shares. The stock has traded between $13.25 and $73.03 in the past 52 week period.

The company said it marks the first-ever in vivo delivery of an experimental CRISPR gene editing medicine to a pediatric patient.

The company said it is on track to complete dosing of the pediatric mid-dose cohort in the first half of 2022 and expects to initiate dosing of the pediatric high-dose cohort this year.

China Inflation Accelerates; Factory Gate Inflation Slows

China’s consumer price inflation accelerated more than expected in March and producer price inflation eased further, official data showed on Monday.

Consumer price inflation rose to 1.5 percent in March from 0.9 percent in February, the National Bureau of Statistics reported. The rate was also above the economists’ forecast of 1.2 percent.

Core inflation that excludes energy and food prices, held steady at 1.1 percent in March.

Food prices dropped 1.5 percent, as prices of pork plunged 41.4 percent from the last year. At the same time, non-food prices moved up 2.2 percent.

Producer price inflation eased to 8.3 percent in March from 8.8 percent a month ago, another report from the statistical office showed. Nonetheless, prices rose more than the expected rate of 7.9 percent.

The uncertainty caused by the war in Ukraine is likely to keep global commodity prices elevated in the near-term, Sheana Yue and Julian Evans-Pritchard, economists at Capital Economics, said.

But base effects mean that headline producer price inflation will continue to decline over the coming quarters, the economists noted. And although consumer price inflation may rise further, weak consumer demand means it is unlikely to exceed the government’s annual target of 3 percent this year.

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