Internet Explorer is no more. CNN reported on the 'browser wars' it started in 1996

(CNN Business)Microsoft’s business is taking a hit from events on the other side of the world.

The tech giant on Tuesday attributed lower-than-expected earnings to developments in China and Russia, including the former’s extended Covid lockdowns and the latter’s war against Ukraine.
Microsoft (MSFT) recorded $51.9 billion in revenue and $16.7 billion in profit, up 12% and 2%, respectively, from the same period last year but lower than forecasts from analysts surveyed by Refinitiv.

“Extended production shutdowns in China” resulted in a $300 million hit, the company said in its earnings release, adding that it spent $126 million to “significantly scale down” its operations in Russia because of the war in Ukraine.

There were also more universal issues, however. Microsoft’s jobs platform LinkedIn suffered from a reduction in advertising spend, along with Microsoft’s search and news business, that resulted in a revenue decline of over $100 million

Amid the broader tech industry downturn, Microsoft said it undertook a “a strategic realignment” of its business that resulted in $113 million spent on employee severance (excluding Russia).
Microsoft stock dipped around 1% lower in after-hours trading.

Natierra Organic Freeze-Dried Blueberries Recalled Over High Levels Of Lead

BrandStorm Inc. has voluntarily recalled 2 lots of Natierra Organic Freeze-Dried Blueberries sold nationwide because they could contain too much lead.

According to FDA’s statement, the recalled dried blueberry pouches could have the presence or potential presence of lead above the FDA’s recommended limits.

People with high blood levels of lead may show no symptoms, but the condition may cause damage to the nervous system and internal organs. Acute lead poisoning may cause a wide range of symptoms, including abdominal pain, muscle weakness, nausea, vomiting, diarrhea, weight loss, and bloody or decreased urinary output. Children are particularly vulnerable to lead poisoning.

If a child is exposed to enough lead for a protracted period of time permanent damage to the central nervous system can occur. This can result in learning disorders, developmental defects, and other long-term health problems.

The recall involves two lots of the berries with best-by-dates of December 2024 and January 2025 sold through retail and online stores. Consumers should discard and not eat Natierra Organic Freeze-Dried Blueberries 1.2-ounce with lot code 2021363-1 or 2022026-1, according to the recall.

European Economics Preview: UK Inflation Data Due

Consumer and factory gate prices from the UK are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for June. Consumer price inflation is seen rising to 9.3 percent in June from 9.1 percent in May. Economists forecast output price inflation to advance to 16.0 percent from 15.7 percent in the previous month.

In the meantime, Destatis is scheduled to publish Germany’s producer prices for June. Producer price inflation is seen at 33.9 percent versus 33.6 percent in May.

At 3.00 am ET, producer prices from the Czech Republic and consumer confidence from Turkey are due. Economists forecast the Czech producer price inflation to climb to 28.8 percent in June from 27.9 percent in May.

At 4.00 am ET, the European Central Bank publishes euro area current account data for May.

Also, industrial production, producer prices and gross wages figures are due from Poland. Industrial output is expected to grow 11.2 percent annually after rising 15.0 percent in May. At the same time, producer price inflation is forecast to rise to 25.0 percent from 24.7 percent in the previous month.

Boston Properties Lifts FY22 Outlook

While reporting its results for the second quarter, Boston Properties Inc. (BXP) lifted its outlook for the full year 2022.

For the full year 2022, the company now expects earnings of $5.40 to $5.45 per share and FFO per share of $7.48 to $7.53 per share.

Previously, the company expected earnings of $5.32 to $5.42 per share and FFO per share of $7.40 to $7.50 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $3.31 per share for the full year 2022.

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

Pebblebrook Hotel Trust Reports Climb In Q2 Profit, Beats estimates

Pebblebrook Hotel Trust (PEB) reported earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings totaled $28.8 million, or $0.72 per share. This compares with $1.4 million, or $0.10 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Pebblebrook Hotel Trust earnings at a glance (GAAP) :

-Earnings (Q2): $28.8 Mln. vs. $1.4 Mln. last year.
-EPS (Q2): $0.72 vs. $0.10 last year.
-Analyst Estimate: $0.09

First Commonwealth Financial Q2 Profit Increases, Inline With Estimates

First Commonwealth Financial (FCF) announced a profit for its second quarter that increased from last year in line with the Street estimates.

The company’s bottom line came in at $30.8 million, or $0.33 per share. This compares with $29.6 million, or $0.31 per share, in last year’s second quarter.

Excluding items, First Commonwealth Financial reported adjusted earnings of $30.6 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.33 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

First Commonwealth Financial earnings at a glance (GAAP) :

-Earnings (Q2): $30.8 Mln. vs. $29.6 Mln. last year.
-EPS (Q2): $0.33 vs. $0.31 last year.
-Analyst Estimate: $0.33