Globalstar Inc. Q1 Earnings Summary

Below are the earnings highlights for Globalstar Inc. (GSAT):

Earnings: -$6.10 million in Q1 vs. -$20.46 million in the same period last year.
EPS: $0.00 in Q1 vs. -$0.01 in the same period last year.
Analysts projected $0.00 per share
Revenue: $58.64 million in Q1 vs. $32.77 million in the same period last year.

Johnson Controls International Gains On Surge In Q2 Profit

Johnson Controls International plc (JCI) shares are climbing more than 5 percent on Friday morning trade after reporting a surge in second-quarter earnings.

Net income attributable to Johnson Controls was $133 million or $0.19 per share compared to $13 million or $0.02 per share last year. On an adjusted basis, earnings were $0.75 per share. Wall Street analysts were looking for $0.73 per share.

Net sales for the quarter were $6.686 billion, up from $6.098 billion in the previous month.

Looking ahead to the company expects third-quarter earnings in a range of $1.01-$1.03 per share and full-year earnings are expected to be $3.50-$3.60 per share.

Currently, shares are at $61.60, up 5.28 percent from the previous close of $58.51 on a volume of 2,508,090.

10-year-old boy missing in Aurora, police appealing for help

A 10-year-old boy has gone missing in Aurora, and police on Friday morning appealed for help.

The boy identified as Hezekiah Pope — about 4’7″ tall with short, black hair, weighing about 80 pounds — has been missing since 3:50 p.m. Thursday when he left a friend’s house in the 2900 block of South Granby Street in Aurora, the Aurora police said in a Twitter post.

He was last seen wearing a multi-colored Army-style jacket, black shirt with red writing, blue pants and black shoes, police said. Anybody who has seen Pope or who has information is asked to call 911.

General Mills Recall Certain Gold Medal Flour

General Mills Friday announced a recall of its Gold Medal flour due to salmonella risk.

General Mills announced a voluntary national recall of two-, five- and 10-pound bags of its Gold Medal Unbleached and Bleached All Purpose Flour with a “better if used by” date of March 27, 2024, and March 28, 2024.

The recall is being issued for the potential presence of Salmonella Infantis, which was discovered during sampling of the five-pound bag product.

The recall affects two date codes of Gold Medal Unbleached All Purpose Flour in the five- and ten-pound bags and two date codes of Gold Medal Bleached All Purpose Flour in the two- and five-pound bags. All other types of Gold Medal Flour are not affected by this recall.

The company has asked its customers to to check their pantries and dispose of the product affected by this recall.

Healthy persons infected with Salmonella Infantis, a bacteria, often experience nausea, diarrhea, fever and abdominal pains. The CDC estimates there are 1.2 million cases annually in the U.S. Typically, symptoms start within six hours to six days after infection and last four to seven days. Any consumers concerned about an illness should contact a physician.

EPAM Systems Down 7% As Outlook Below View

EPAM Systems, Inc. (EPAM) shares are sliding more than 7 percent on Friday morning trade after the company announced a tepid outlook for the full year, that came in below estimates. For the second quarter, the company expects sluggish growth. EPAM said the outlook is due to an uneven improvement in demand.

The company now expects full-year earnings to be in the range of $8.11 to $8.31, and adjusted earnings in the range of $10.60 to $10.80 for the year. Wall Street analysts are looking for $11.2 per share.

Revenue is projected to be in the range of $4.95 -$5.00 billion, while Street is looking for $5.25 billion.

For the second quarter, EPAM expects earnings to be in the range of $1.82 to $1.90 for the quarter, and adjusted earnings in the range of $2.38 to $2.46 per share. Analysts are looking for $2.48 per share.

Revenues for the second quarter are projected in the range of $1.195 billion to $1.205 billion, reflecting a year-over-year growth rate of less than 1 percent at the midpoint of the range. Wall Street expects $1.26 billion.

Currently, shares are at $249.44, down 7.75 percent from the previous close of $270.41 on a volume of 355,472.

European Economic News Preview: Germany Factory Orders Data Due

Factory orders and construction Purchasing Managers’ survey results from Germany are the top economic news due on Friday.

At 2.00 am ET, Destatis is scheduled to issue Germany’s factory orders data for March. Orders are forecast to fall 2.2 percent on a monthly basis in March, reversing the 4.8 percent rise in February.

At 2.30 am ET, the Federal Statistical Office releases Swiss consumer price data for April. Economists forecast inflation to slow to 2.8 percent from 2.9 percent in March.

At 2.45 am ET, France’s statistical office Insee is set to issue industrial production for March. Economists forecast output to fall 0.3 percent on month, in contrast to the 1.2 percent increase in February.

At 3.00 am ET, industrial output data is due from Spain. Production is seen falling 0.1 percent on year, following a 0.4 percent decrease in February.

At 3.30 am ET, S&P Global is set to publish Germany’s construction PMI data.

At 4.00 am ET, retail sales data is due from Italy. Retail sales are forecast to remain flat on month in March after a 0.1 percent drop in February.

At 5.00 am ET, Eurostat is set to release euro area retail sales data for March. Economists expect sales to drop 0.1 percent on month, slower than the 0.8 percent decrease in February.

Floor & Decor Slips 7%

Shares of Floor & Decor Holdings, Inc. (FND) are down 7 percent on Friday morning trade, after reporting a flat earnings per share for the first quarter. The shares have been on a decline since April 2.

For fiscal 2023, the company expects comparable store sales to be down 3.0 percent to flat.

Currently, shares are at $90.49, down 7.02 percent from the previous close of $97.32 on a volume of 1,653,071.