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By Margaret Lyons

Ross Stores Inc. Q2 Profit Falls

Ross Stores Inc. (ROST) announced earnings for second quarter that decreased from last year

The company’s earnings came in at $384.52 million, or $1.11 per share. This compares with $494.26 million, or $1.39 per share, in last year’s second quarter.

The company’s revenue for the quarter rose 0.6% to $4.83 billion from $4.80 billion last year.

Ross Stores Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $384.52 Mln. vs. $494.26 Mln. last year.
-EPS (Q2): $1.11 vs. $1.39 last year.
-Revenue (Q2): $4.83 Bln vs. $4.80 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.72 to $0.83
Full year EPS guidance: $3.84 to $4.12

European Economics Preview: Eurozone Final Inflation Data Due

Final consumer price data from Eurozone is due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway releases quarterly GDP data. The economy is forecast to grow 0.7 percent sequentially, in contrast to the 0.6 percent fall in the first quarter.

In the meantime, Swiss foreign trade data is due.

At 3.00 am ET, Statistics Austria publishes final consumer price data for July. Also, harmonized consumer price data is due from Slovakia.

At 4.00 am ET, Norges Bank announces its interest rate decision. Markets expect the bank to hike its key rate to 1.75 percent from 1.25 percent.

At 5.00 am ET, Eurostat is scheduled to issue euro area final inflation data for July. According to flash estimate, inflation climbed to a record 8.9 percent from 8.6 percent in June. The statistical office is expected to confirm the preliminary estimate.

At 7.00 am ET, Turkey’s central bank announces its interest rate decision. Economists expect the bank to retain its key rate at 14.00 percent.

Applied Materials Inc. Q3 Profit Decreases, but beats estimates

Applied Materials Inc. (AMAT) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company’s bottom line totaled $1.61 billion, or $1.85 per share. This compares with $1.72 billion, or $1.87 per share, in last year’s third quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.68 billion or $1.94 per share for the period.

Analysts on average had expected the company to earn $1.79 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.2% to $6.52 billion from $6.20 billion last year.

Applied Materials Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.61 Bln. vs. $1.72 Bln. last year.
-EPS (Q3): $1.85 vs. $1.87 last year.
-Analyst Estimates: $1.79
-Revenue (Q3): $6.52 Bln vs. $6.20 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.82 to $2.18
Next quarter revenue guidance: $6.250 – $7.05 Bln

OSI Systems Inc. Bottom Line Advances In Q4

OSI Systems Inc. (OSIS) reported a profit for its fourth quarter that increased from last year

The company’s bottom line came in at $33.76 million, or $1.94 per share. This compares with $25.89 million, or $1.40 per share, in last year’s fourth quarter.

Excluding items, OSI Systems Inc. reported adjusted earnings of $33.99 million or $1.96 per share for the period.

The company’s revenue for the quarter rose 1.4% to $336.82 million from $332.20 million last year.

OSI Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $33.76 Mln. vs. $25.89 Mln. last year.
-EPS (Q4): $1.94 vs. $1.40 last year.
-Revenue (Q4): $336.82 Mln vs. $332.20 Mln last year.

Future Motion Recalls Footpads For Onewheel GT Electric Skateboards

Future Motion has recalled about 20,500 footpads for Onewheel GT electric skateboards due to risk of injury to bystanders.

According to a statement from Consumer Product Safety Commission, the footpad can fail to disengage after the rider has dismounted while the board is in motion and the skateboard can unexpectedly continue to operate, posing an injury hazard to bystanders.

Future Motion said it has received 813 reports of the skateboards continuing to operate after the rider has dismounted, including 11 reports of injuries including bruises, friction burns and a twisted ankle.

The company has asked its customer sto stop using the skateboards with recalled footpads. Consumers with affected footpads will receive a free replacement skateboard footpad, including free shipping and installation instructions.

The recall involves front footpads for Future Motion’s Onewheel GT self-balancing electric skateboards, sold with the skateboard or independently as replacement footpads. Onewheel and GT appear on the side of the skateboard. The Onewheel logo is printed on the skateboard’s wheel. Consumers can identify whether their Onewheel GT has a recalled front footpad by contacting Future Motion and providing the serial number for their board. The serial number can be found on the underside of the bottom rail of the skateboard rail.

The products were sold online at www.onewheel.com from March 2022 through June 2022 and authorized independent dealers nationwide from March 2022 through August 2022 for about $2,200.