U.S. Reports 30K New Covid Cases, 415 New Deaths

With 30,161 new cases of coronavirus infection reported on Tuesday, total U.S. Covid cases have reached 97,280,866.

415 new casualties reported on the same day took the total number of people who have lost their lives due to coronavirus infection in the country to 1,068,453, as per Johns Hopkins University’s latest data.

Covid positive cases have fallen by 4 percent and deaths have decreased by 7 percent in the last fortnight.

U.S. hospitals reported a 1 percent decrease in the number of Covid patients in the last two weeks. The number of I.C.U. admissions due to the worse stage of the viral disease remained almost static.

26,681 people are hospitalized due to Covid. 3,173 of these patients are admitted in intensive care units.

The nation’s current test positivity rate is 8.4 percent.

As per the latest data published by the Centers for Disease Control and Prevention, 226,594,560 Americans, or 68.2 percent of the eligible population, have been administered both doses of Covid vaccine so far. This includes 93 percent of people above 65.

49.1 percent of the eligible population, or 111,367,843 people, have already received a booster dose that is recommended to provide additional protection from the killer virus.

40.6 percent of the eligible population, or 26,796,838 people, have taken a second booster dose.

2.017 additional deaths were reported globally on Tuesday, taking the total number of people who have lost their lives due to the pandemic so far to 6,582,416.

Avnet Inc Q1 Profit Increases, beats estimates

Avnet Inc (AVT) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company’s bottom line totaled $184.26 million, or $1.93 per share. This compares with $111.32 million, or $1.10 per share, in last year’s first quarter.

Excluding items, Avnet Inc reported adjusted earnings of $191.36 million or $2.00 per share for the period.

Analysts on average had expected the company to earn $1.91 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 21.0% to $6.75 billion from $5.58 billion last year.

Avnet Inc earnings at a glance (GAAP) :

-Earnings (Q1): $184.26 Mln. vs. $111.32 Mln. last year.
-EPS (Q1): $1.93 vs. $1.10 last year.
-Analyst Estimate: $1.91
-Revenue (Q1): $6.75 Bln vs. $5.58 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.80 – $1.90
Next quarter revenue guidance: $6.35 – $6.65 Bln

Oceaneering International Inc. Q3 Earnings Summary

Below are the earnings highlights for Oceaneering International Inc. (OII):

Earnings: $18.30 million in Q3 vs. -$7.37 million in the same period last year.
EPS: $0.18 in Q3 vs. -$0.07 in the same period last year.
Excluding items, Oceaneering International Inc. reported adjusted earnings of $23.70 million or $0.23 per share for the period.

Analysts projected $0.11 per share
Revenue: $559.67 million in Q3 vs. $466.81 million in the same period last year.

Valmont Industries Inc Reveals Climb In Q3 Profit

Valmont Industries Inc (VMI) reported a profit for its third quarter that increased from last year

The company’s bottom line totaled $72.1 million, or $3.34 per share. This compares with $51.7 million, or $2.40 per share, in last year’s third quarter.

Excluding items, Valmont Industries Inc reported adjusted earnings of $75.3 million or $3.49 per share for the period.

The company’s revenue for the quarter rose 26.6% to $1.10 billion from $868.8 million last year.

Valmont Industries Inc earnings at a glance (GAAP) :

-Earnings (Q3): $72.1 Mln. vs. $51.7 Mln. last year.
-EPS (Q3): $3.34 vs. $2.40 last year.
-Revenue (Q3): $1.10 Bln vs. $868.8 Mln last year.

-Guidance:
Full year EPS guidance: $13.65 to $14.00

O`Reilly Automotive Inc. Reports Increase In Q3 Income, Beats estimates

O`Reilly Automotive Inc. (ORLY) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line came in at $585.44 million, or $9.17 per share. This compares with $558.65 million, or $8.07 per share, in last year’s third quarter.

Analysts on average had expected the company to earn $8.51 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.2% to $3.80 billion from $3.48 billion last year.

O`Reilly Automotive Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $585.44 Mln. vs. $558.65 Mln. last year.
-EPS (Q3): $9.17 vs. $8.07 last year.
-Analyst Estimate: $8.51
-Revenue (Q3): $3.80 Bln vs. $3.48 Bln last year.

-Guidance:
Full year EPS guidance: $32.35 – $32.85
Full year revenue guidance: $14.1 – $14.3 Bln

European Economics Preview: France Business Sentiment Data Due

Business confidence survey data from France is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany’s producer prices for September. Economists forecast prices to surge 44.7 percent on a yearly basis, but slower than the 45.8 percent increase posted in August.

In the meantime, Swiss foreign trade data is due.

At 2.45 am ET, France’s Insee is scheduled to issue business confidence survey results. The business sentiment index is seen falling to 101 in October from 102 in September.

At 4.00 am ET, the European Central Bank releases euro area current account data for August. Economists forecast the current account deficit to widen to EUR 20.3 billion from EUR 19.9 billion in July.