Telia Q2 Profit Dips; Backs Outlook

TeliaSonera (TLSNY.PK), Swedish telecom firm, on Wednesday posted a significant decline in its earnings for the second quarter. However, the company reported a rise in revenues for the period. In addition, Telia has reiterated its guidance for the fiscal 2022.

For the quarter ended in June, the firm reported a net total income of SEK 1.68 billion, compared with SEK 8.07 billion posted last year.

Adjusted EBITDA was at SEK 7.68 billion, higher than SEK 7.65 billion, year-over-year basis.

Telia’s net sales rose to SEK 22.29 billion, compared with SEK 21.87 billion with a like for like net sales increase of 2.2 percent.

For the six-month period to June, adjusted EBITDA moved up to SEK 14.88 billion, from SEK 14.83 billion of 2021.

For the first half, net sales were at SEK 44.11 billion as against SEK 43.69 billion with a like for like net sales increase of 2.1 percent.

Looking ahead, for the fiscal 2022, the company reiterated the guidance saying, “Service revenues and adjusted EBITDA, like for like, are estimated to grow by low single digit. Cash CAPEX, excluding fees for licenses and spectrum, is estimated to be in the range of SEK 14.0 billion – SEK 15.0 billion.”

Tovala Recalls Gochujang-Glazed Salmon And Pork Bowls

Chicago, Illinois -based Tovala is recalling certain Gochujang-Glazed prepared meals citing the potential to contain undeclared peanuts, the U.S. Food and Drug Administration said.

The recall involves Gochujang-Glazed Pork Chop Bowl and Gochujang-Glazed Salmon Bowl prepared meals.

The meals are packaged in individual meal sleeves or boxes that include a meal card with a QR code and labeled as Gochujang-Glazed Pork Chop Bowl and Gochujang-Glazed Salmon Bowl. The affected meals are marked with Enjoy By dates between 7/11/22 through 7/14/22.

The recalled meals were distributed through Tovala’s weekly direct-to-consumer meal delivery service to customers across the continental United States who selected the meals for delivery the week of July 4, 2022.

The recall was initiated after Tovala discovered that an ingredient sourced from a third-party supplier contained an undeclared peanut allergen. The ingredient was used in the Gochujang Glaze, which was included in the recalled meals.

According to the agency, people who have an allergy or severe sensitivity to peanuts run the risk of serious or life-threatening allergic reaction if they consume these meals.

The company has received one report of an adverse reaction related to the recalled product to date.

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M&T Bank Corp. Q2 Income Declines, misses estimates

M&T Bank Corp. (MTB) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company’s bottom line came in at $192.24 million, or $1.08 per share. This compares with $438.76 million, or $3.41 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $2.70 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

M&T Bank Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $192.24 Mln. vs. $438.76 Mln. last year.
-EPS (Q2): $1.08 vs. $3.41 last year.
-Analyst Estimates: $2.70

MarketAxess Holdings Inc. Q2 Profit beats estimates

MarketAxess Holdings Inc. (MKTX) released earnings for second quarter that beat the Street estimates.

The company’s bottom line totaled $66.92 million, or $1.78 per share. This compares with $67.29 million, or $1.77 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $1.74 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.3% to $182.23 million from $176.33 million last year.

MarketAxess Holdings Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $66.92 Mln. vs. $67.29 Mln. last year.
-EPS (Q2): $1.78 vs. $1.77 last year.
-Analyst Estimates: $1.74
-Revenue (Q2): $182.23 Mln vs. $176.33 Mln last year.

Kroger Launches Boost Membership Program

Grocery retailer Kroger Co. announced the launch of annual membership program Boost by Kroger.

Kroger estimates the membership can save customers more $1,000 per year on fuel and grocery delivery.

Boost membership program, which the grocer piloted in four divisions during the last several months, is now available to customers across Kroger Family of Companies.

The program expands on savings currently available to customers through Kroger’s free loyalty program. There are two annual membership levels at $59 or $99, providing free next-day delivery or free delivery in as little as two hours on orders of $35 or more, respectively.

Boost members also receive 2X fuel points for every dollar spent as well as exclusive savings on Our Brands, including Murray’s Cheese, Vitacost, and Home Chef, Simple Truth and Private Selection.

Bill Bennett, Kroger Vice President and Head of E-commerce, said, “Through Boost, Kroger is uniquely positioned to be Fresh for Everyone, making grocery delivery accessible to more customers through the industry’s most affordable grocery delivery membership program.”