Saturday, 25 Mar 2023

Electronic Arts Inc Q3 Income Climbs

Lithium Americas Climbs On Agreement With GM For $650 Mln Equity Investment

Lithium Americas Corp. (LAC) shares are gaining more than 8 percent on Tuesday morning trade after the company announced a purchase agreement with General Motors Co. (GM) for a $650 million equity investment in Lithium Americas in two tranches.

In tranche 1, GM will acquire 15.0 million common shares of Lithium Americas at a price of $21.34 per share for gross proceeds of $320 million.

Currently, shares of Lithium are at $24.21, up 10.10 percent from the previous close of $21.99 on a volume of 4,351,270.

One person killed in early morning fire in Evergreen

One person died after an early morning fire at a multilevel townhome building in Evergreen.

The fire was reported in the 4000 block of Silver Spruce Lane, Evergreen Fire Rescue tweeted at 4:28 a.m.

Several people were evacuated due to smoke conditions, officials said, and many residents were able to get out when smoke detectors alerted them of the fire.

One person did die in the fire, though, officials said.

The fire is still under investigation.

The Jefferson County Sheriff’s Office stated on Twitter they were also investigating the fire.

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Victoria's Secret Stock Gains 8% On $125 Mln Share Buyback Plan

Shares of Victoria’s Secret & Co. (VSCO) are gaining over 8% on Tuesday morning after the company announced plans for a $125 million accelerated share repurchase program.

VSCO is currently trading at $41.91, up $3.28 or 8.49%, on the Nasdaq. The stock opened its trading at $40.00 after closing Monday’s trading at $38.63. The stock has traded between $26.14 and $65.20 in the past 52-week period.

The company will make an initial payment of $125 million to Goldman Sachs and will receive an initial delivery of around 2.5 million shares of the company’s common stock on February 3, 2023.

Figs Gains After Quanbot Raises Holdings By 15.1%

Figs, Inc. (FIGS) shares are gaining more than 12 percent on Tuesday morning trade after Quantbot Technologies LP bought 13204 shares of Figs to raise its holding by 15.1 percent. Quantbot has been holding 100,540 shares in Figs.

Currently, shares are at $9.47, up 12.40 percent from the prior closing of $8.43 on a volume of 2,545,472.

Integer Holdings Slides After Company Expects Reduced Preliminary Q4 Earnings

Shares of Integer Holdings Corp. (ITGR) are sliding more than 5 percent on Tuesday morning trade after the company expects fourth-quarter preliminary earnings to decline from the prior year. The shares have been in a bearish trend since January 26.

The company said it expects preliminary fourth-quarter net income in a range of $16-$17 million, down 19-15 percent from the prior year earnings per share are expected to be down 18-15 percent in the range of $0.49-$0.51.

Currently, shares are at $66.79, down 5.58 percent from the previous close of $70.74 on a volume of 675,805.

El Fish Marisqueria, Seafood-Focused Mexican, Opens on the Upper West Side

Rotisserie chicken on the Upper East Side, a Turkish menu served on the Peninsula New York rooftop, and more restaurant news.

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By Florence Fabricant

European Economic News Preview: Germany Ifo Business Confidence Due

Business sentiment from Germany and producer prices from the UK are the top economic news due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK producer prices for December. Output price inflation is forecast to rise to 16.4 percent from 14.8 percent in November. Input price inflation is seen at 18.0 percent versus 19.2 percent in the previous month.

At 3.00 am ET, Spain producer price figures are due. In the meantime, Italy’s Istat publishes non-EU foreign trade data.

At 4.00 am ET, Germany’s ifo Institute publishes monthly business confidence survey results for January. The business sentiment index is seen at 90.2, up from 88.6 in December.

Western Digital Corp Q2 Earnings Summary

Below are the earnings highlights for Western Digital Corp (WDC):

Earnings: -$446 million in Q2 vs. $564 million in the same period last year.
EPS: -$1.40 in Q2 vs. $1.79 in the same period last year.
Excluding items, Western Digital Corp reported adjusted earnings of -$135 million or -$0.42 per share for the period.

Analysts projected -$0.12 per share
Revenue: $3.11 billion in Q2 vs. $4.83 billion in the same period last year.

Next quarter EPS guidance: $(1.70) – $(1.40)
Next quarter revenue guidance: $2.60 – $2.80 Bln

Tiny Love Stories: ‘Want to Come Over?’

Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.

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Electronic Arts Inc Q3 Income Climbs

Electronic Arts Inc (EA) announced a profit for its third quarter that increased from last year

The company’s earnings came in at $204 million, or $0.73 per share. This compares with $66 million, or $0.23 per share, in last year’s third quarter.

The company’s revenue for the quarter rose 5.0% to $1.88 billion from $1.79 billion last year.

Electronic Arts Inc earnings at a glance (GAAP) :

-Earnings (Q3): $204 Mln. vs. $66 Mln. last year.
-EPS (Q3): $0.73 vs. $0.23 last year.
-Revenue (Q3): $1.88 Bln vs. $1.79 Bln last year.

Full year EPS guidance: $2.97 to $3.11
Full year revenue guidance: $7.252 – $7.352 Bln

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