Salesforce.com Inc Q4 adjusted earnings Beat Estimates

Below are the earnings highlights for Salesforce.com Inc (CRM):

-Earnings: -$248 million in Q4 vs. $362 million in the same period last year.
-EPS: -$0.28 in Q4 vs. $0.46 in the same period last year.
-Excluding items, Salesforce.com Inc reported adjusted earnings of $602 million or $0.66 per share for the period.
-Analysts projected $0.55 per share
-Revenue: $4.85 billion in Q4 vs. $3.60 billion in the same period last year.

-Guidance:
Next quarter EPS guidance: $0.70 – $0.71
Next quarter revenue guidance: $4.875 – $4.885 Bln

Public Storage Q4 adjusted earnings of $2.72 per share

Public Storage (PSA) revealed earnings for fourth quarter that fell from last year.

The company’s profit came in at $327.25 million, or $1.87 per share. This compares with $530.10 million, or $3.04 per share, in last year’s fourth quarter.

Excluding items, Public Storage reported adjusted earnings of $474.89 million or $2.72 per share for the period.

The company’s revenue for the quarter rose 3.6% to $717.50 million from $692.46 million last year.

Public Storage earnings at a glance:

-Earnings (Q4): $474.89 Mln. vs. $482.48 Mln. last year.
-EPS (Q4): $2.72 vs. $2.77 last year.
-Revenue (Q4): $717.50 Mln vs. $692.46 Mln last year.

Disney CEO Bob Iger Steps Down

NEW YORK (AP) — The Walt Disney Co. has named Bob Chapek CEO, replacing Bob Iger, effective immediately.

The surprise announcement Tuesday makes Iger executive chairman. Chapek was most recently chairman of Disney Parks, Experiences and Products.

Iger will remain chairman through the end of his contract Dec. 31, 2021.

Iger said it was an “optimal time” for him to step down following Disney’s acquisition of Fox’s entertainment assets and the launch of Disney Plus streaming service in November.

“Did not see this coming ― Wowza,” tweeted LightShed media analyst Rich Greenfield.

Chapek is only the seventh CEO in Disney history.

Susan Arnold, the independent lead director of the Disney board said succession planning had been ongoing for several years.

Chapek was head of the parks, experiences and products division since it was created in 2018. Before that he was chairman of Walt Disney Parks and Resorts since 2015. Before that, he was president of the Disney Consumer Products segment from 2011 to 2015.

BEFORE YOU GO

SmileDirect stock tanks after wider company loss, sales miss

Shares of SmileDirectClub Inc. SDC, -4.06% tanked in the extended session Tuesday after the online dentistry company posted a wider-than-expected per-share loss and its sales fell short of expectations. SmileDirect said it lost $97 million in the fourth quarter, or 25 cents a share, compared with a loss of $26 million in the fourth quarter of 2018. Revenue rose 53% to $197 million, the company said. Analysts polled by FactSet had expected a loss of 11 cents a share on sales of $200 million for the quarter. The company guided for fiscal 2020’s sales between $1 billion to $1.1 billion, and adjusted loss for the year between $50 million and $75 million. The analysts surveyed by FactSet expect 2020 sales of $1.15 billion. Shares of SmileDirect had ended the regular trading day down 4.1%.

Oil Futures Settle At 2-week Low

Crude oil prices declined sharply on Tuesday, extending recent losses, amid concerns about the outlook for energy demand due to the impact of the coronavirus outbreak on global growth.

West Texas Intermediate Crude oil futures for April ended down $1.53, or about 3%, at $49.90 a barrel, the lowest settlement in about two weeks.

Brent crude futures declined $1.48 to $54.86 a barrel.

On Monday, WTI crude oil futures for April ended down $1.95, or 3.7%, at $51.43 a barrel.

According to reports, the number of new virus cases in China outside Hubei continued to drop.

Countries around the world have stepped up efforts to prevent a pandemic of the flu-like virus, with the U.S. pledging $2.5 billion to fight the disease.

South Korea said it aims to test more than 200,000 members of a church at the center of a surge in coronavirus cases.

On Monday, the World Health Organization insisted it was premature to declare the deadly outbreak of a novel coronavirus a pandemic even though it had the potential to reach that level.

According to a report from Reuters, Saudi Aramco expects the coronavirus impact on oil demand to be short-lived.

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman said that OPEC+ should not be complacent about the coronavirus.

Traders were also looking ahead to the weekly inventory reports from the American Petroleum Institute (API) and Energy Information Administration (EIA). While the API’s report is due later today, the EIA is scheduled to come out with its inventory data Wednesday morning.

Unisys Corp. Q4 adjusted earnings Miss Estimates

Below are the earnings highlights for Unisys Corp. (UIS):

-Earnings: -$10.8 million in Q4 vs. $25.0 million in the same period last year.
-EPS: -$0.17 in Q4 vs. $0.41 in the same period last year.
-Excluding items, Unisys Corp. reported adjusted earnings of $42.7 million or $0.60 per share for the period.
-Analysts projected $0.76 per share
-Revenue: $741.5 million in Q4 vs. $760.9 million in the same period last year.

Disney Names Parks Chief Bob Chapek to Succeed Bob Iger as CEO

In this article

Walt Disney Co. named Bob Chapek as its new chief executive officer, succeeding Bob Iger, who will remain chairman of the world’s largest entertainment company, Bloomberg News reports. 

Chapek, who led the company’s theme parks and consumer products businesses, takes over immediately, according a statement Tuesday. Iger will stay continue to direct the company’s creative endeavors through 2021.

More information is available on the Bloomberg Terminal.

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