Gildan Activewear Turns To Profit In Q1
Booking Holdings Q1 Loss Narrows, Revenue Down 50%
Online travel and related services provider Booking Holdings Inc. (BKNG,PCLN) on Wednesday posted net loss of $55 million or $1.34 per share, compared to net loss of $699 million or $17.01 per share in the previous-year quarter.
The 2021 results included net gains on marketable equity securities of $32 million while the year-ago results include net losses on marketable equity securities of $307 million.
Excluding certain items, net loss was $215 million or $5.26 per share, compared to net income of $156 million or $3.77 per share in the same period last year.
On average, 28 analysts polled by Thomson Reuters expected the company to report net loss of $5.87 per share in the quarter. Analysts’ estimates, usually, exclude one-time items.
Total revenues for the quarter fell 50 percent to $1.14 billion from $2.28 billion a year ago while analysts were expecting revenues of $1.17 billion for the three-month period.
Gross travel bookings for the quarter were down 4 percent to $11.9 billion from $12.4 billion in the prior-year period.
Proxy adviser ISS backs pay plan for JPMorgan CEO Dimon
BOSTON, May 5 (Reuters) – Proxy adviser Institutional Shareholder Services on Wednesday recommended investors cast advisory votes in favor of the pay of JPMorgan Chase & Co CEO Jamie Dimon at the bank’s annual meeting on May 18.
ISS said “cautionary support” for the pay of Dimon and other leaders is warranted despite concerns about the use of discretion by the bank’s compensation committee.
The proxy adviser also recommended shareholders back all the bank’s directors up for election despite opposition from climate activists.
Far-left media 'watchdog' shields Jennifer Granholm from conflict of interest reportage, but paid her retainer
Media top headlines May 5
The Facebook Advisory Board’s ruling on former President Donald Trump’s account and more round out today’s top media headlines.
A left-wing 501(c)3 organization that bills itself as a media watchdog group defended Energy Secretary Jennifer Granholm from criticism of her recent holdings in the green energy sector after President Biden virtually-toured and touted an electric omnibus manufacturer she had seven-figure investments in until taking her current post.
Media Matters for America, a Washington group founded by 1990s conservative-turned-contemporary liberal political consultant David Brock, criticized what they called “right wing media” for reporting on Granholm’s investments in Proterra.
“The fix is in. This is a bad look,” Arroyo told “The Ingraham Angle” earlier this week after airing a clip of Biden’s video Q&A with a Proterra employee.
A 2018 bio for Granholm on the University of California-Berkeley – where she both graduated and was an educator – made note of her advisorship at Media Matters, as well as American Bridge, a Brock-founded SuperPAC.
SPH calls for trading halt pending release of announcement
SINGAPORE – Singapore Press Holdings (SPH) on Thursday morning (May 6) called for a halt in the trading of its shares pending the release of an announcement.
The filing with the Singapore Exchange was made at 7.37am before the stock market opened.
Shares of SPH, which publishes The Straits Times, closed down two cents or 1.1 per cent at $1.79 on Wednesday.
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Opinion | Liz Cheney, We Have a Memory. You’re No Hero.
By Charles M. Blow
Opinion Columnist
Court authorizes IRS to seek identities of taxpayers who have used cryptocurrency
Kraken CEO: We may be regulated out of the country
Kraken CEO Jesse Powell on what separates Kraken’s trading platform from Coinbase and how U.S. companies are at a disadvantage compared to other countries.
A federal court has authorized the Internal Revenue Service (IRS) to serve a "John Doe Summons" on the crypto exchange Kraken, seeking identities of U.S. taxpayers who have used cryptocurrency, the Department of Justice said on Wednesday.
The IRS is seeking information about taxpayers who conducted at least $20,000 worth of transactions in cryptocurrency from 2016 to 2020, the DOJ said in a statement.
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"Those who transact with cryptocurrency must meet their tax obligations like any other taxpayer", acting Assistant Attorney General David Hubbert of the Justice Department’s Tax Division said in the statement.
Gildan Activewear Turns To Profit In Q1
Gildan Activewear Inc. (GIL,GIL.TO) reported first-quarter net earnings of $98.5 million or $0.50 per share, compared to a net loss of $99.3 million or $0.50 per share last year.
Adjusted net earnings were $95.0 million or $0.48 per share compared to $11.2 million, or $0.06 per share in the prior year.
Net sales for the first quarter of $589.6 million were up 28.4% compared to the first quarter of 2020, consisting of activewear sales of $484.6 million, up 30.1%, and sales of $105.0 million in the hosiery and underwear category, up 21.4%.
The Board of Directors has declared a cash dividend of $0.154 per share, payable on June 21, 2021 to shareholders of record as of May 27, 2021.
