NOV Inc. Q4 Earnings Summary
Eastbound Northwest Parkway closed for crash in Broomfield
All eastbound lanes of Northwest Parkway are closed at 96th Street after a box truck rolled over.
According to a tweet from the Broomfield Police account, a box truck rolled over and spilled its contents on the toll road.
The tweet stated there is no estimated reopening time and officials are advising an alternate route.
This is a developing story.
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PHOTOS: Sean Payton introduced as Denver Broncos head coach
The Denver Broncos held an introductory press conference for new head coach Sean Payton at the team’s headquarters in Englewood, Colorado on Monday, Feb. 6, 2023.
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Interest Rate Concerns Continue To Weigh On Treasuries
After ending the previous session sharply lower, treasuries showed another significant move to the downside during trading on Monday.
Bond prices came under pressure in early trading and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped by 10.2 basis points to 3.634 percent.
The ten-year yield added to the 13.6 basis point spike seen last Friday, reaching the level closing level in a month.
Concerns about the outlook for interest rates continued to weigh on treasuries following last week’s stronger than expected jobs data.
Trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.
The economic calendar remains relatively light throughout the week, although traders are likely to keep an eye on remarks by Federal Reserve Chair Jerome Powell on Tuesday.
After last week’s interest rate increase, traders are likely to look to Powell’s comments for additional clues about the outlook for further rate hikes.
Powell’s comments in a conversation with David Rubenstein, Chairman of the Economic Club of Washington, D.C., are likely to be focus in Tuesday.
Bomb threat at Metro State forces evacuations
Authorities are investigating an unverified bomb threat at Metropolitan State University of Denver, the school said on Twitter.
School officials ordered anyone in the area of Lynx Crossing, 318 Walnut St., to evacuate.
“Anyone in the building or immediate vicinity should leave the area,” the school said on Twitter.
Officials will update msudenver.edu/emergency and the school’s social media pages with updates.
Oil Futures Settle Higher On Demand Hopes
Oil prices climbed higher on Monday amid optimism energy demand from China will see a significant increase.
Reports about Saudi Arabia unexpectedly increasing the prices of oil that will be shipped to Asia contributed significantly to the positive close of the contract.
West Texas Intermediate Crude oil futures for March ended higher by $0.72 or about 1% at $74.11 a barrel.
Brent crude futures were up $1.28 or about 1.6% at $81.22 a barrel a little while ago.
A report from the International Energy Agency (IEA) says about half of this year’s global oil demand growth will come from China.
Oil prices were also supported by concerns about supply following a major earthquake in Turkey forcing an oil terminal in Ceyhan to shut down.
Kennametal Inc. Q2 Earnings Summary
Kennametal Inc. (KMT) announced earnings for second quarter that decreased from the same period last year in line with the Street estimates.
The company’s bottom line came in at $21.90 million, or $0.27 per share. This compares with $31.42 million, or $0.37 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 rose 2.1% to $497.12 million from $486.67 million last year.
Kennametal Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $21.90 Mln. vs. $31.42 Mln. last year.
-EPS (Q2): $0.27 vs. $0.37 last year.
-Analyst Estimates: $0.22
-Revenue (Q2): $497.12 Mln vs. $486.67 Mln last year.
Next quarter revenue guidance: $520 – $540 Mln
Full year EPS guidance: $1.30 – $1.70
Full year revenue guidance: $2.05 – $2.1 Bln
Skyworks Solutions Inc. Q1 Profit Decreases, misses estimates
Skyworks Solutions Inc. (SWKS) released a profit for first quarter that decreased from the same period last year and missed the Street estimates.
The company’s earnings came in at $309.4 million, or $1.93 per share. This compares with $399.9 million, or $2.40 per share, in last year’s first quarter.
Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $414.6 million or $2.59 per share for the period.
Analysts on average had expected the company to earn $2.61 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 11.9% to $1.33 billion from $1.51 billion last year.
Skyworks Solutions Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $309.4 Mln. vs. $399.9 Mln. last year.
-EPS (Q1): $1.93 vs. $2.40 last year.
-Analyst Estimates: $2.61
-Revenue (Q1): $1.33 Bln vs. $1.51 Bln last year.
Next quarter revenue guidance: $1.125 – $1.175 Bln
NOV Inc. Q4 Earnings Summary
Below are the earnings highlights for NOV Inc. (NOV):
Earnings: $104 million in Q4 vs. -$40 million in the same period last year.
EPS: $0.26 in Q4 vs. -$0.10 in the same period last year.
Revenue: $2.07 billion in Q4 vs. $1.52 billion in the same period last year.