‘Party Down’ Gets It: Food Service Is No Party

The reboot of the Starz sitcom about the mundane lives of L.A. cater waiters comes at the right moment, when restaurant work has shed much of its glittery image.

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By Tejal Rao

European Economic News Preview: Germany Final GDP, Consumer Confidence Due

Final quarterly national accounts and consumer confidence from Germany are the top economic news due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Germany’s statistical office Destatis is scheduled to issue detailed results for the fourth quarter GDP. The initial estimate showed that the largest euro area economy shrank 0.2 percent sequentially.

In the meantime, the market research group GfK publishes Germany’s consumer sentiment survey data. The confidence index is seen rising to -30.4 in March from -33.9 in February.

At 2.45 am ET, France’s statistical office Insee is set to release consumer confidence data. Economists forecast the sentiment index to remain unchanged at 80 in February.

At 3.00 am ET, Spain’s INE is scheduled to issue producer prices for January. Prices had increased 14.7 percent year-on-year in December.

Also, business confidence survey results are due from the Czech Republic and Sweden at 3.00 am.

At 4.00 am ET, Purchasing Managers’ survey results are due from Austria.

141 Nations Back UN Motion Demanding Russian Withdrawal From Ukraine

The UN General Assembly has passed a resolution callling on Russia to end hostilities in Ukraine and withdraw all of its military forces from the war ravaged country.

The resolution was introduced at an emergency special session on the eve of the first anniversary of the war.

141 UN Member States voted in favour of the resolution and seven countries, including Russia, Belarus, North Korea and Syria, voted against it. Among the 32 abstentions were China, India and Pakistan.

The Assembly, through the resolution, urged Member States to cooperate in the spirit of solidarity to address the global impacts of the war on food security, energy, finance, the environment and nuclear security and safety.

The Assembly also emphasized the need to ensure accountability for the most serious crimes under international law committed in Ukraine through independent national or international investigations and prosecutions

The world body on Thursday rejected an amendment proposed by Belarus that calls on Member States to refrain from sending weapons to the zone of conflict.

Canadian Solar Prelim. Q4 Profit Surges; Expects Q1 Revenue Below View

Canadian Solar Inc. (CSIQ), a Canadian solar company, on Friday, posted a surge in preliminary net income for the fourth quarter, amidst an increase in revenue.

For the fourth quarter, the Guelph-headquartered firm reported a preliminary net income of around $70 million, compared with $25.96 million, recorded for the last quarter of 2021.

Preliminary revenue stands at around $1.97 billion, higher than the previous year’s $1.53 billion.

Looking ahead, for the first quarter, the company expects revenue of $1.6 billion – $1.8 billion.

Four analysts, on average, polled by Thomson Reuters expect Canadian Solar to post revenue of $2.04 billion.

Pre-market Movers: SLS, BAER, LUNR, OCEA, BIGC…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.35 A.M. ET).

In the Green

Bridger Aerospace Group Holdings, Inc. (BAER) is up over 28% at $5.67.
Intuitive Machines, Inc. (LUNR) is up over 17% at $23.75.
Nyxoah S.A. (NYXH) is up over 16% at $5.71.
Monopar Therapeutics Inc. (MNPR) is up over 14% at $3.75.
Beyond Meat, Inc. (BYND) is up over 13% at $19.51.
Millicom International Cellular S.A. (TIGO) is up over 9% at $20.58.
Cryoport, Inc. (CYRX) is up over 8% at $22.30.
Guardant Health, Inc. (GH) is up over 7% at $27.79.
MediaAlpha, Inc. (MAX) is up over 7% at $15.62.
Farfetch Limited (FTCH) is up over 7% at $5.34.
Block, Inc. (SQ) is up over 6% at $79.25.
Tenon Medical, Inc. (TNON) is up over 6% at $2.59.

In the Red

SELLAS Life Sciences Group, Inc. (SLS) is down over 36% at $2.33.
Ocean Biomedical, Inc. (OCEA) is down over 16% at $9.00.
BigCommerce Holdings, Inc. (BIGC) is down over 16% at $9.51.
Sweetgreen, Inc. (SG) is down over 13% at $8.01.
CS Disco, Inc. (LAW) is down over 11% at $8.25.
Ambrx Biopharma Inc. (AMAM) is down over 7% at $6.06.
Diebold Nixdorf, Incorporated (DBD) is down over 7% at $2.77.
Edison International (EIX) is down over 5% at $62.00.
Oceaneering International, Inc. (OII) is down over 5% at $18.00.

Evergy Guides FY23 In Line With Estimates – Update

While reporting financial results for the fourth quarter on Friday, Evergy, Inc. (EVRG) initiated its earnings and adjusted earnings guidance for the full-year 2023. It also reaffirmed long-term adjusted earnings growth outlook.

For fiscal 2023, the company now projects both earnings and adjusted earnings in a range of $3.55 to $3.75 per share.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $3.66 per share for the year. Analysts’ estimates typically exclude special items.

The company also reaffirmed its long-term adjusted earnings annual growth target of 6 to 8 percent through 2025 from the $3.30 midpoint of the original 2021 adjusted earnings guidance range.

The company’s Board of Directors also declared a dividend on the company’s common stock of $0.6125 per share, payable on March 22, 2023 to shareholders of record as of March 9, 2023.

The Company also updated its five-year capital investment plan to $11.6 billion from 2023 through 2027.

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