Friday, 25 Sep 2020

Cramer's lightning round: Virgin Galactic requires a 10-year view

Twitter Users Get A Kick Out Of How Trump Mispronounced Thailand

Twitter users got a kick out of President Donald Trump’s latest verbal blunder ― although the citizens of Thailand might not be happy.

On Thursday, Trump spoke at a Whirlpool factory in Clyde, Ohio, where he griped about corporations sending jobs overseas to countries like “Thigh-land” and Vietnam.

As the video clip shows, the president quickly corrected himself.

As you might expect, the verbal goof amused many Twitter users, especially since it came just days after Trump mispronounced the name of Yosemite National Park as “Yo-Semites.”

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Consolidated Edison Inc. Q2 adjusted earnings Beat Estimates

Consolidated Edison Inc. (ED) reported a profit for its second quarter that advanced from last year.

The company’s earnings totaled $190 million, or $0.57 per share. This compares with $152 million, or $0.46 per share, in last year’s second quarter.

Excluding items, Consolidated Edison Inc. reported adjusted earnings of $201 million or $0.60 per share for the period.

Analysts had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.5% to $2.78 billion from $2.74 billion last year.

Consolidated Edison Inc. earnings at a glance:

-Earnings (Q2): $201 Mln. vs. $189 Mln. last year.
-EPS (Q2): $0.60 vs. $0.58 last year.
-Analysts Estimate: $0.54
-Revenue (Q2): $2.78 Bln vs. $2.74 Bln last year.

-Guidance:
Full year EPS guidance: $4.15 to $4.35

AMC revenues plummet in ‘most challenging quarter’ in 100 years

AMC Entertainment, the nation’s largest movie theater chain, said it lost half a billion dollars in the second quarter, making it the company’s worst quarter since it was founded in 1920.

The chain, which was forced to close cinemas across the nation as the coronavirus swept the nation in March, said it swung to a loss in the three months ended June 30 as revenue plunged 98.8 percent.

“It should be no surprise to anyone that with our operations shut the world over, and almost no revenues coming in the door, this was the most challenging quarter in the 100-year history of AMC,” said CEO Adam Aron.

For the quarter, AMC posted a net loss of $561.2 million, or $5.38 a diluted share, compared with year-ago income of $1.51 billion, or EPS of 48 cents. Revenue fell to a measly $18.9 million from $1.51 billion, a year earlier.

Wall Street expected a net loss of $4.29 a share on sales of $11.9 million.

AMC’s financials come on the heels of its groundbreaking deal with Universal Pictures to disrupt the 90-day window for theatrical releases. Under the deal, Universal, home to the “Fast & Furious” franchise and “Trollz,” can bring its movies to premium on-demand streaming services after just 17 days of being shown in theaters as opposed to three months. In exchange, AMC will get an undisclosed portion of the revenue generated from the streaming sales.

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WFH: Coming to an end or here to stay?

New York (CNN Business)Facebook is extending its work from home policy until July of next year, becoming the latest tech giant to commit to letting staff work remotely in response to the coronavirus pandemic.

“Based on guidance from health and government experts, as well as decisions drawn from our internal discussions about these matters, we are allowing employees to continue voluntarily working from home until July 2021,” said Nneka Norville, a Facebook spokesperson, on Thursday.
Norville also said Facebook (FB) is giving employees $1,000 for “home office needs.”

    Google also recently extended its work from home policy until July 2021. And some companies, including Twitter (TWTR), have said their staff may work remotely indefinitely.
    The announcement follows previous indications from Facebook CEO Mark Zuckerberg that as many as 50% of Facebook employees could be working remotely within the next five to 10 years.

      Zuckerberg pitched the idea to Facebook staff as both a matter of satisfying employee desires and also as an effort to create “more broad-based economic prosperity.”
      “When you limit hiring to people who live in a small number of big cities, or who are willing to move there, that cuts out a lot of people who live in different communities, have different backgrounds, have different perspectives,” Zuckerberg said on a livestream posted to his Facebook page in May.

      Cramer's lightning round: Virgin Galactic requires a 10-year view

      • It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

      Datadog: "I've got to take the conference call home tonight and find out more."

      Elanco Animal Health: I think the stock can go up.

      Andersons: "I think that what you want to do is, if you're going to be in that group, you want to be in Agco or Deere, and not on this end. This end is not so good."

      Virgin Galactic: "You have to take a 10-year view on that … and I don't have that much time, but you might."

      Alcoa: "No. You want Ball Corp … That's the one you want to go to, not Alcoa."

      Waitr: "I have to find out more about that company."

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