SMA Solar Technology Sees Higher H1 Sales; Lifts FY23 Outlook

SMA Solar Technology AG (SMTGF.PK) expects sales for the first half of 2023 to be in the range of 770 million euros to 780 million euros compared to 472 million euros reported in the prior year.

Operating earnings before interest, taxes, depreciation and amortization (EBITDA) for the first half of 2023 is expected to be in the range of 120 million euros to 130 million euros compared to 16 million euros last year.

The company increased its fiscal year 2023 EBITDA guidance to a range of 230 million euros to 270 million euros from the previous outlook of 135 million euros to 175 million euros.

The company raised annual sales outlook to a range of 1.70 billion euros – 1.85 billion euros from the prior estimation of 1.45 billion euros – 1.60 billion euros.

The reason for the better-than-planned performance and the more positive outlook is a significant increase in delivery capabilities due to faster improvements in material supplies from the supplier side and an improved earnings contribution from all segments.

The final figures for the first-half of 2023 will be published on August 10, 2023.

Apogee Enterprises Gains On Q1 Results

Shares of Apogee Enterprises, Inc. (APOG) are progressing more than 8 percent on Friday morning trade after the company reported an increase in first-quarter earnings and raised the full-year earnings outlook to the $4.15-$4.45 range.

Quarterly earnings were $23.57 million, up from $22.73 million in the prior year. Earnings per share increased 5 percent to $1.05, primarily driven by improved profitability in Architectural Glass.

Sales for the quarter increased to $361.71 million from $356.64 million last year.

Currently, shares are at $47.54, up 8.62 percent from the previous close of $43.77 on a volume of 123,557.

CarMax Spikes After Q1 Earnings Beat Street View

CarMax, Inc. (KMX) shares are gaining more than 9 percent on Friday morning trade after the company’s first-quarter earnings beat estimates, despite a reduction from the prior year.

Currently, shares are at $86.27, up 10.15 percent from the previous close of $78.32 on a volume of 3,467,205.

What Does It Mean to Be an Asian American Brewer?

Across the U.S., Asian beer makers are putting their mark on an industry that is still predominantly white.

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Opinion | Why I’m Not a Liberal Catholic

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Avadel Pharma Down 14% After Jazz Files Lawsuit Against FDA To Overturn Approval Of Lumryz

Shares of Avadel Pharmaceuticals plc (AVDL) are down 14% on Friday after Jazz Pharmaceuticals filed a lawsuit against FDA for approving Avadel’s Lumryz, a drug for excessive daytime sleepiness in adult patients with narcolepsy.

AVDL is trading on the Nasdaq at $12.97, down 14.95% or $2.28 per share. It has traded between $2.26 and $15.82 in the past 52-week period.

According to Jazz Pharma, Avadel’s Lumryz is an extended-release reformulation of its high sodium oxybate product Xyrem for narcolepsy. It alleges that FDA defied its authority, despite the orphan drug exclusivity protecting Jazz’s Xywav.

Treasuries Regain Ground Amid Concerns About Global Economy

After showing a notable move to the downside in the previous session, treasuries regained some ground during trading on Friday.

Bond prices pulled back off their best levels after an early rally but remained firmly positive. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 6.0 basis points to 3.739 percent.

The rebound by treasuries may partly have reflected their appeal as a safe haven amid ongoing concerns about the outlook for the global economy.

Rate hikes in England and other countries along with the Federal Reserve’s forecast for additional rate increases have reignited worries tighter monetary policy will tip the global economy into recession.

Trading activity remained somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.

The economic calendar picks back up next week with the release of reports on durable goods orders, consumer confidence, new home sales and pending home sales.

The Commerce Department is also due to release its report on personal income and spending in the month of May, which includes a reading on inflation said to be preferred by the Fed.

The consumer price inflation data could significantly impact opinions regarding whether the Fed will follow through on its forecast rate hikes.

‘The Bear’ Season 2 Puts a Little Optimism on the Menu

With a gentler tone and reverence for hospitality, the Hulu show reaches beyond the chef to give other workers the spotlight.

By Tejal Rao

Moment Pro-Putin barricade smashed out of the way by Wagner coup

Trucks full of Wagner mercenaries broke through barricades erected by civilians in a bid to slow the convoy’s advance as they attempt to reach Moscow. Video footage shows the moment the group smashed the Pro-Putin barricade.

This comes after Group chief Yevgeny Prigozhin announced last night he was launching an armed rebellion against Russia militasry leadership.

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