Stock Alert: Splunk Down 5% As Outlook Lower Than Estimates

Shares of Splunk Inc. (SPLK) are currently losing 5% on Thursday morning after the company issued a revenue outlook for the first quarter and full year 2021 that is lower than Wall Street estimates.

For the first quarter of 2021, the company currently expects revenues of about $450 million, compared with Thomson Reuters’ consensus analyst forecast of $526.7 million.

For fiscal year 2021, Splunk expects revenues of $2.6 billion, short of analysts’ estimate of $2.88 billion.

Splunk Wednesday posted fourth-quarter sales of $791 million, up 27% from a year earlier. Net loss for the quarter was $22.7 million or $0.15 per share, compared with last year’s net income of $2.1 million or $0.01 per share.

SPLK is currently trading at $148.14, down $7.59 or 4.73%, on the Nasdaq.

U.S. Consumer Comfort Hits 10-Week Low on Buying Climate Views

Consumer confidence among Americans slid to a 10-week low as views of the buying climate dimmed amid mounting virus fears.

Bloomberg’s Consumer Comfort Index fell to 63 in the week ended March 1 from 63.5, data showed Thursday. The component tracking whether it’s a good time to spend sank to the lowest level since June while economic views were slightly weaker.

The buying climate index has slumped 6.8 points in the last five weeks, the steepest decline over a similar period since May 2015. While the coronavirus may be souring consumer attitudes about spending, the comfort reading for personal finances showed improvement despite the rout in U.S. stocks.

Other measures of sentiment remain elevated. The University of Michigan’s index posted its second-highest reading of the expansion in February, while the Conference Board’s rose to a six-month high.

Sentiment, which has been buoyant in recent months amid low unemployment, will be one metric that policy makers track as they weigh additional interest-rate cuts. The Federal Reserve’s emergency rate reduction this week may help underpin confidence as concern grows about the spread of the coronavirus.

Andrew Yang, Evelyn Yang Sign With CAA

Andrew Yang and his wife Evelyn Yang have signed with CAA for representation.

Yang recently became a CNN political commentator after ending his presidential bid, the first 2020 presidential candidate to do so. Before launching his longshot campaign, Yang had founded Venture for America, a non-profit organization. Evelyn Yang is a marketing professional and special needs advocate, and is a board member of the non-profit KultureCity.

On Thursday, Andrew Yang announced that he was launching Humanity Forward, a new non profit focused on some of the central goals of his presidential campaign. The organization will in part be focused on supporting candidates who back one of his signature proposals, a universal basic income, designed to prepare for the displacement of workers from technological and economic changes. Dave Chappelle, who campaigned with Yang, is among the supporters of the new organization along with Teri Hatcher and Ken Jeong.

Stock Alert: Cantel Medical Tumbles 18%

Shares of Cantel Medical Corp (CMD), a provider of infection prevention and control products, are losing more than 18 percent in the morning trade on Thursday at $51.79, near to its 52-week low. The company’s financial results for the second quarter missed analysts’ expectations and it also forecast fiscal 2020 earnings below estimates.

The stock has traded in a range of $51.35 to $93.87 in the past 52 weeks.

Owing to softer Medical performance and assumed procedure impact in China due to COVID-19, the company has revised its full-year adjusted earnings guidance to $2.58 to $2.61 per share.

Thursday, Cantel Medical reported second-quarter net loss of $2.26 million or $0.05 per share, compared to net income of $18.80 million or $0.45 per share in the year-ago quarter. Adjusted earnings per share were $0.61.

Net sales for the quarter grew 28.5 percent to $288.50 million from $224.54 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter on revenues of $290.45 million. Analysts’ estimates typically exclude special items. The Street expects earnings of $2.76 per share for the year.

Treasury Announces Details Of Long-Term Securities Auctions

The Treasury Department revealed the details of this month’s auctions of three-year and ten-year notes and thirty-year bonds on Thursday.

The Treasury said it plans to sell $38 billion worth of three-year notes, $24 billion worth of ten-year notes and $16 billion worth of thirty-year bonds.

The results of three-year note auction will be announced next Tuesday, the results of the ten-year note auction will be announced next Wednesday and the results of the thirty-year bond auction will be announced next Thursday.

Last month, the Treasury sold $38 billion worth of three-year notes, $27 billion worth of ten-year notes and $19 billion worth of thirty-year bonds, with the auctions all attracting above average demand.

Delta Cutting Flights To South Korea Amid Coronavirus Concerns

Delta Air Lines is cutting down its flights to South Korea amid growing concerns about the spread of the new virus to the country.

The carrier said it will suspend service between Minneapolis/St. Paul and Incheon from February 29 through April 30. The last flight departing from Minneapolis to Incheon will be on February 28 and the last flight from Incheon to Minneapolis will be on February 29.

Delta will also reduce to five times weekly its services between Incheon and Atlanta, Detroit and Seattle through April 30.

The airline’s new service from Incheon to Manila, previously scheduled to begin March 29, will now start on May 1.

“The health and safety of customers and employees is Delta’s top priority and the airline has put in place a number of processes and mitigation strategies to respond to the growing concern,” the company said in a statement.

Meanwhile, Hawaiian Airlines said it will suspend flights between Honolulu and Seoul starting next Monday and running through April 30. The carrier currently flies the route five times a week.

Delta, United Airlines and American Airlines have already suspended all flights to and from mainland China and Hong Kong.