China Fires Missiles Toward Waters Near Taiwan Following Pelosi’s Visit

China fired several ballistic missiles into waters around northeastern and southwestern Taiwan within hours of U.S. House Speaker Nancy Pelosi leaving the island nation.

The Chinese military’s Eastern Theater Command said the Dongfeng ballistic missiles hit their target accurately Thursday.

“The entire live-fire training mission has been successfully completed and the relevant air and sea area control is now lifted,” it said in a statement.

This was part of Chinese military’s planned exercises to simulate an air and sea “blockade” around Taiwan.

Cargo ships were forced to deviate their channels and dozens of flights bound for Taiwan were cancelled following the military drills.

Taiwan’s Defense Ministry said China sent more than 20 fighter jets across the median line in the Taiwan Strait Wednesday.

The Chinese government had earlier warned that Taipei will pay a price for hosting Pelosi, who has a long history of criticizing Beijing.

Her visit had irritated China, which considers the autonomous region of Taiwan as its part.

Saputo Inc. Q1 Profit Increases, Beats Estimates – Update

(Adds dividend)

Saputo Inc. (SAP.TO) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line totaled C$139 M, or C$0.33 per share. This compares with C$53 million, or C$0.13 per share, in last year’s first quarter.

Excluding items, Saputo Inc. reported adjusted earnings of C$161 M or C$0.39 per share for the period.

Analysts on average had expected the company to earn C$0.29 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 24.1% to C$4.32 billion from C$3.48 billion last year.

dividend:

The Board has approved a quarterly dividend of C$0.18 per share, payable on September 16, to shareholders of record on September 6.

Saputo Inc. earnings at a glance (GAAP) :

-Earnings (Q1): C$139 M. vs. C$53 Mln. last year.
-EPS (Q1): C$0.33 vs. C$0.13 last year.
-Analyst Estimate: C$0.29
-Revenue (Q1): C$4.32 Bln vs. C$3.48 Bln last year.

Lantheus Holdings Down 3%

Shares of drug manufacturer Lantheus Holdings, Inc. (LNTH) are down 3 percent on Thursday’s trading. The stock has been on a downward spiral since the past few days. There has been no company announcement to influence the stock.

Currently at $73.08, the stock has traded between $22.20 and $81.37 during the past 52 weeks.

Atlas Air To Be Acquired By Consortium Led By Apollo; Atlas Air Q2 Profit Tops Estimates

Atlas Air Worldwide (AAWW) has agreed to be acquired by an investor group led by funds managed by affiliates of Apollo (APO) together with investment affiliates of J.F. Lehman & Company and Hill City Capital in an all-cash deal with an enterprise valuation of approximately $5.2 billion. Atlas Air Worldwide shareholders will receive $102.50 per share in cash. Upon completion, Atlas Air Worldwide will become a privately held company. The transaction is expected to close in the fourth quarter 2022 or first quarter 2023.

Separately, Atlas Air Worldwide Holdings reported second quarter adjusted net income of $97.3 million, or $3.36 per share, compared with $121.8 million, or $4.10 per share, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $3.34, for the quarter. Analysts’ estimates typically exclude special items.

Reported net income was $88.3 million, or $2.65 per share, compared with $107.1 million, or $3.53 per share, prior year.

Revenue grew to $1.2 billion from $990.4 million, last year. Analysts on average had estimated $1.11 billion in revenue.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

European Economics Preview: Bank Of England Monetary Policy Decision Due

The monetary policy announcement from the Bank of England is due on Thursday, headlining a light day for the European economic news.

The BoE is expected to raise its benchmark rate by 50 basis points to 1.75 percent, combat high inflation and the cost of living crisis. The bank is scheduled to issue the monetary policy summary and the minutes to the monetary policy committee meeting at 7.00 am ET.

Other statistical reports for the day are as follows

At 2.00 am ET, Destatis is slated to issue Germany’s factory orders for June. Economists forecast orders to fall 0.8 percent on month, reversing a 0.1 percent rise in May.

At 3.30 am ET, S&P Global releases Germany’s construction Purchasing Managers’ survey data for July.

At 4.30 am ET, UK S&P/CIPS construction PMI data is due. The index is forecast to fall to 52.0 in July from 52.6 in June.

At 8.30 am ET, Czech National Bank announces its interest rate decision. The bank is set to hold its key rate at 7.00 percent.

Datadog Stock Down 5% On Quarterly Results

Shares of Datadog, Inc. (DDOG) are slipping over 5% on Thursday morning after the company reported its second-quarter results.

DDOG is currently trading at $106.03, down $6.39 or 5.68%, on the Nasdaq.

Second-quarter loss was $4.9 million or $0.02 per share, compared to loss of $9.4 million or $0.03 per share last year.

Adjusted profit for the quarter were $0.24 per share, up from $0.09 per share last year.

Revenues for the quarter rose to $406.1 million from $233.5 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.15 per share on revenues of $380.19 million.

Looking forward to the third quarter, the company expects revenues between $410 million and $414 million and adjusted earnings of $0.15 and $0.17 per share. Analysts currently estimate earnings of $0.16 per share on revenues of $412.07 million.

For the full year, the company expects revenues between $1.61 billion and $1.63 billion and adjusted earnings of $0.74 to $0.81 per share. Analysts currently estimate earnings of $0.75 per share on revenues of $1.62 billion.