Sunday, 19 May 2024

Grandy Organics Recalls Gluten Free Honey Oat Granola

European Economic News Preview: UK Manufacturing PMI Data Due

Manufacturing Purchasing Managers’ survey data from the UK is the top economic news due on Wednesday.

At 3.00 am ET, UK Nationwide house price data is due. House prices are forecast to fall 4.8 percent on a yearly basis in October after a 5.3 percent decrease in September.

In the meantime, manufacturing PMI data is due from Turkey.

At 3.30 am ET, Sweden manufacturing PMI survey results are due.

At 5.30 am ET, UK S&P/CIPS final manufacturing PMI survey results are due. The flash estimate showed that the index rose to 45.2 in October from 44.3 in September.

MFA Financial Q3 Loss Widens

MFA Financial Inc. (MFA) reported that its net loss available to common stock for the third quarter of widened to $64.66 million or $0.64 per share from $63.24 million or $0.62 per share in the same quarter last year.

Distributable earnings, a non-GAAP financial measure, were $41.1 million, or $0.40 per share for the latest-quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the third quarter. Analysts’ estimates typically exclude special items.

Net interest income for the quarter declined to $46.14 million from $52.29 million in the prior year.

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

Ameresco Stock Tanks 26% On Q3 Miss, Outlook Cut

Shares of Ameresco, Inc. (AMRC) plunged over 26% on Tuesday morning after the company reported its third-quarter results with earnings and revenues missing Street estimates. The company also lowered its outlook.

AMRC is trading at $18.71, down $7.90 or 29.69%, on the Nasdaq. The stock began trading at $30.26 after closing the previous day’s trading at $26.61. The stock has traded between $20.00 and $68.75 in the past 52-week period.

Revenues for the quarter dropped to $335.1 million from $441.3 million last year.

Net income for the quarter dropped to $21.3 million or $0.40 per share, compared to $27.4 million or $0.51 per share last year. Adjusted earnings for the quarter were $0.40 per share, compared to $0.54 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.48 per share on revenues of $389.32 million.

Looking forward to the full year 2023, the company now expects revenues of $1.315 billion to $1.370 billion and adjusted earnings of $1.15 to $1.25 per share. Analysts currently estimate earnings of $1.81 per share on revenues of $1.53 billion.

Previously, the company expected revenues of $1.45 billion to $1.55 billion and adjusted earnings of $1.80 to $1.90 per share.

TransMedics Shares Rise As Q3 Revenue Beat Street, FY23 Revenue Guidance Above Estimates

Shares of TransMedics Group, Inc. (TMDX) are up 51% on Tuesday after the company reported third-quarter revenue that beat Street, and revised full-year revenue guidance.

TMDX is trading on the Nasdaq at $60.71, up 51.06% or $20.52 per share. It has traded between $36.42 and $99.63 in the past 52-week period.

The company reported a net loss of $25.4 million or $0.78 per share for the quarter, wider than last year’s loss of $7.4 million or $0.25 per share.

The company stated that the increase in net loss was driven primarily by $29.2 million in non-recurring acquisition-related costs.

Analysts on average had expected a loss of $0.16 per share, according to figures compiled by Thomson Reuters.

Revenue increased to $66.4 million from $25.7 million the previous year. It beat the consensus estimate of $49.19 million.

The company updated its full-year 2023 revenue guidance to be in the range of $222 million to $230 million, compared to its prior revenue guidance of $180 million to $190 million. This comes above the consensus-estimated revenue of $194.18 million.

Thoughtworks Up 15% As Q3 Results Beat Street

Shares of Thoughtworks Holding, Inc. (TWKS) are up 15% on Tuesday following the release of its third-quarter revenue and earnings that beat the Street estimate.

TWKS is trading on the Nasdaq at $4.17, up 15.19% or $0.55 per share. It has traded between $3.18 and $11.81 in the past 52-week period.

The company reported a net loss of $25.9 million or $0.08 per share for the quarter, narrower than last year’s loss of $38.6 million or $0.12 per share.

On an adjusted basis, income was $11.5 million or $0.04 per share, compared to the income of $26.8 million or $0.08 per share the prior year.

Analysts on average had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters.

Revenue decreased to $280.2 million from $332.4 million the previous year, yet it beat the consensus estimate of $278.17 million.

Dynatrace Climbs After Announcing New Kubernetes Experience For Platform Engineering

Dynatrace, Inc. (DT) shares are gaining more than 4 percent on Tuesday morning trade after the company announced its new Kubernetes Experience for platform engineering teams to deliver flawless and secure innovation.

The company said with the new Dynatrace Kubernetes Experience, platform engineers can now visualize and manage their entire Kubernetes environment in one location, leveraging AI-powered answers and automation to proactively identify and address issues before they impact customers.

Currently, shares are at $49.38, up 4.44 percent from the previous close of $47.28 on a volume of 4,071,495.

Grandy Organics Recalls Gluten Free Honey Oat Granola

Hiram, Maine-based Grandy Organics is voluntarily recalling Gluten Free Honey Oat Granola as it may contain undeclared coconut.

People who have an allergy or severe sensitivity to coconut run the risk of serious or life-threatening allergic reactions should they consume this product.

The affected lot of Gluten Free Honey Oat Granola was distributed in Florida to a food service distributor, to a food processor in California and directly to individual consumers in Michigan, Minnesota, New Jersey, and New York.

Grandy Organics said that after conducting a thorough tracing exercise it discovered that the product potentially contained trace levels of coconut, however, it was distributed in packaging that did not reveal the presence of coconut.

If consumers have an allergy or severe sensitivity to coconut, they should not consume the product and discard it immediately. Grandy Organics has informed the FDA of this action.

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