Thursday, 23 Mar 2023

National Vision Holdings Stock Tanks 20% On Q4 Results, FY Outlook

Rockwell Automation Buys Knowledge Lens

Rockwell Automation, Inc. (ROK), dealing in industrial automation, said on Wednesday that it has acquired Knowledge Lens, thereby boosting its delivery of Industrial AI solutions to manufacturers.

Financial terms of the transaction are not known.

Frank Kulaszewicz, Senior Vice President of Rockwell’s Lifecycle Services segment, said: “The acquisition of Knowledge Lens improves our ability to help more manufacturers around the world discover and use the hidden insights in their data to drive game-changing value for their businesses.”

Founded in 2013, Bengaluru-based Indian firm is a provider of actionable business insights from enterprise data, combining digital technologies with data science, AI, and engineering expertise.

Post acquisition, Knowledge Lens will join Rockwell’s digital services business, Kalypso.

European Economic News Preview: Eurozone Final Factory PMI Data Due

Final factory Purchasing Managers’ survey results from the euro area and the UK are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, UK Nationwide house price data is due. House prices are forecast to fall 0.9 percent annually after rising 1.1 percent in January.

In the meantime, Destatis is scheduled to issue Germany’s labor market statistics for January.

At 3.15 am ET, Spain manufacturing PMI survey data is due. Economists forecast the PMI to rise to 49.1 in February from 48.4 in the previous month.

At 3.45 am ET, S&P Global publishes Italy’s manufacturing PMI data. The score is forecast to rise to 51.0 in February from 50.4 in January.

At 3.50 am ET, final PMI survey data is due from France. The final score is expected to match the initial estimate of 47.9.

At 3.55 am ET, final factory PMI and unemployment figures are due from Germany. The jobless rate is forecast to remain unchanged at 5.5 percent in February.

At 4.00 am ET, Eurozone final PMI data is due. The index is seen rising to 48.5 in February, as initially estimated, from 48.8 in January.

At 4.30 am ET, the Bank of England publishes mortgage approvals for January. The number of mortgages approved in January is forecast to rise to 38,000 from 35,610 in December.

At 8.00 am ET, Germany’s flash consumer and harmonized prices for February. Consumer price inflation is seen easing to 8.5 percent from 8.7 percent in January.

Federal Signal Guides FY23 Revenues Above View; Q4 Results Top Estimates

While reporting financial results for the fourth quarter on Wednesday, Federal Signal Corp. (FSS) initiated its adjusted earnings and net sales guidance for the full year 2023.

For fiscal 2023, the company now projects adjusted earnings in a range of $2.15 to $2.40 per share on net sales between $1.58 billion and $1.72 billion.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $2.33 per share on revenues of $1.56 billion for the year. Analysts’ estimates typically exclude special items.

For the fourth quarter, the company reported net income of $34.6 million or $0.57 per share, up from $19.5 million or $0.32 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.57 per share, compared to $0.40 per share last year.
Net sales for the quarter grew 30 percent to a quarterly record of $391.5 million from $301.4 million in the same quarter last year.

The Street was looking for earnings of $0.56 per share on net sales of $379.69 million for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit

TotalEnergies Agrees To Buy CEPSA's Upstream Assets In UAE; Financial Terms Not Known

TotalEnergies SE (TTE), a French energy and petroleum firm, said on Wednesday that it has inked a deal with Compañía Española de Petróleos, S.A.U. or CEPSA, a Spanish oil and gas company, to acquire its upstream assets in Abu Dhabi.

Financial terms of the transaction have not been disclosed

The deal, which is effective from January 1, will allow the French firm to acquire a 20 percent participating interest in the Satah Al Razboot or SARB, Umm Lulu, Bin Nasher, and Al Bateel or SARB and Umm Lulu offshore concession.

The SARB and Umm Lulu concession includes two major offshore fields. Abu Dhabi Oil Company Ltd or ADOC holds a 60 percent interest in this concession, alongside OMV with 20 percent.

The concession is operated by ADNOC Offshore.

A 12.88 percent indirect interest in the Mubarraz concession is held by ADOC, through the acquisition of 20 percent of Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd., a company holding a 64.4 percent interest in ADOC.

The Mubarraz concession is comprised of four producing offshore fields.

National Vision Holdings Stock Tanks 20% On Q4 Results, FY Outlook

Shares of National Vision Holdings Inc. (EYE) tanked over 20% on Wednesday morning after posting a loss for the fourth quarter, which was wider than Wall Street analysts’ estimates.

EYE is currently trading at $29.82, down $7.54 or 20.18%, on the Nasdaq. The stock opened its trading at $38.23 after closing the previous trading day at $37.36. The stock has traded between $22.59 and $45.86 in the past 52-week period.

The fourth-quarter loss was $9.26 million or $0.12 per share, compared to a net income of $6.22 million or $0.07 per share in the prior year.

Adjusted loss per share was $0.08 compared to adjusted income per share of $0.13 last year. Analysts polled by Thomson Reuters expected a loss of $0.02 per share for the fourth quarter.

Revenues for the quarter dropped to $468.9 million from $477.9 million last year. Analysts expected revenues of $470.61 million for the quarter.

Looking ahead to the fiscal year 2023, the company projects adjusted earnings per share of $0.42 to $0.60. Analysts currently expect earnings of $0.98 per share.

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