Kohl`s Corp. Bottom Line Declines In Q2, but beats estimates

Kohl`s Corp. (KSS) revealed a profit for second quarter that decreased from last year but beat the Street estimates.

The company’s bottom line came in at $58 million, or $0.52 per share. This compares with $143 million, or $1.11 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 4.7% to $3.68 billion from $3.86 billion last year.

Kohl`s Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $58 Mln. vs. $143 Mln. last year.
-EPS (Q2): $0.52 vs. $1.11 last year.
-Analyst Estimates: $0.22
-Revenue (Q2): $3.68 Bln vs. $3.86 Bln last year.

-Guidance:
Full year EPS guidance: $2.10 to $2.70

Advance Auto Parts Profit Falls In Q2

Advance Auto Parts (AAP) revealed earnings for second quarter that decreased from last year

The company’s earnings totaled $85.36 million, or $1.43 per share. This compares with $144.40 million, or $2.38 per share, in last year’s second quarter.

The company’s revenue for the quarter rose 0.7% to $2.69 billion from $2.67 billion last year.

Advance Auto Parts earnings at a glance (GAAP) :

-Earnings (Q2): $85.36 Mln. vs. $144.40 Mln. last year.
-EPS (Q2): $1.43 vs. $2.38 last year.
-Revenue (Q2): $2.69 Bln vs. $2.67 Bln last year.

-Guidance:
Full year EPS guidance: $4.50 – $ 5.10
Full year revenue guidance: $11,250 -$11,350 Mln

Oil Prices Fall On Fuel Demand Concerns

Oil prices were moving lower on Wednesday as weak business activity reports from Asia and Europe stoked concerns over waning demand.

The downside remained capped somewhat as bullish inventory data suggested overall supply conditions are still tight.

Benchmark Brent crude futures fell 0.8 percent to $83.33 per barrel, while WTI crude futures were down 0.9 percent at $78.95.

Data showed Japan’s factory activity shrank in August and Australia’s business activity contracted at the fastest pace in 19 months, adding to concerns over slowing global growth.

Elsewhere, Eurozone business activity contracted further in August as the region’s downturn spread further from manufacturing to services, according to PMI survey data published earlier today.

The S&P Global composite index flash reading fell to 47.0 from 48.6 in July, hitting its lowest since November 2020.

The U.K. manufacturing PMI fell from 45.3 to 41.5 in August, hitting a 39-month low, while the services PMI fell from 51.5 to 48.7, touching a 7-month low.

On the positive side, the American Petroleum Institute (API) has reported a 2.418-million-barrel draw on U.S. crude inventories last week, following the massive draw of 6.2 million barrels a week earlier.

The weekly report from the Energy Information Administration is due later in the day.

Fresenius Medical Care Announces FDA Clearance For Versi HD With GuideMe Software

Fresenius Medical Care announced the FDA 510(k) clearance for Versi HD with GuideMe Software, a completely reinvented self-guided interface for the company’s VersiHD chronic home hemodialysis system. The company said VersiHD with GuideMe Software will initially be available in selected markets in 2023. Existing VersiHD systems will be upgradeable to GuideMe Software.

Fresenius Medical Care said VersiHD with GuideMe Software provides graphical walk-through guidance that aims to enhance ease of use and confidence for both patients and nurses. It is designed to improve patient training time, and ease the transition to home.

For More Such Health News, visit rttnews.com.

Navios Partners Q2 Net Income Declines; Time Charter And Voyage Revenues Up 23.6%

Navios Maritime Partners L.P. (NMM) reported that its second quarter net income declined to $112.3 million from $118.2 million, prior year. Earnings per unit was $3.65 compared to $3.83. Adjusted net income declined to $102.2 million from $118.2 million, last year. Adjusted earnings per unit was $3.32 compared to $3.83. Analysts polled by Thomson Reuters expected the company to report profit per share of $2.88, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter revenue increased to $346.9 million from $280.7 million, previous year. The company said the increase was mainly attributable to the increase in the size of fleet and to the slight increase in Time Charter Equivalent rate.

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

Meta Launches Advanced AI-powered Speech And Text Translations

Meta has launched an Artificial Intelligence-powered translation engine that can translate nearly 100 languages across text and speech.

The Facebook parent company said it is releasing the engine, known as Seamless M4T, under a Creative Commons license to allow researchers and developers to build on this work.

SeamlessM4T supports speech recognition for nearly 100 languages.

It supports speech-to-text translation, speech-to-speech translation, text-to-text translation, and text-to-speech translation.

The technology giant is introducing a pioneering universal language translator at a time existing speech-to-speech and speech-to-text systems only cover a limited number of the world’s languages.

One advantage of the new AI-powered translation engine is that it can translate spoken words from one language to another without having to first convert to text behind the scenes.

Meta also released the metadata of SeamlessAlign, the biggest open multimodal translation dataset, totaling 270,000 hours of mined speech and text alignments.

Last year, Meta released No Language Left Behind (NLLB), a text-to-text machine translation model that supports 200 languages, and has since been integrated into Wikipedia as one of the translation providers.