Tuesday, 22 Sep 2020

Nutrien Q2 Profit Down; Cuts 2020 Adj. EPS View

Adaptive Biotechnologies Q2 Loss Widens

Adaptive Biotechnologies Corp. (ADPT) Monday reported second-quarter net loss of $33.5 million or $0.26 per share, compared to $16.4 million or $1.23 per share last year.

Second-quarter revenues dropped to $21.0 million from $22.1 million last year.

Analysts polled by Thomson Reuters estimated loss of $0.28 per share on revenues of $18.8 million.

9 new COVID-19 cases among Colorado State students-athletes, including 8 football players – The Denver Post

Colorado State reported nine new cases of student-athletes testing positive for COVID-19, including eight from the football team, in a release Monday.

The results come after an Aug. 3 testing on 150 student-athletes from football, cross-country, soccer and volleyball. CSU partnered with UCIHealth for the testing.

In total, there have been 25 positive cases — 19 on the football team — from a total of 420 tests.

The school has temporarily stopped all football team activities. The basketball, soccer and volleyball teams are continuing to train.

ProAssurance Posts Q2 Loss

ProAssurance Corp. (PRA) Monday reported second-quarter net loss of $18.1 million or $0.34 per share, compared to net income of $11.5 million or $0.21 per share last year.

Adjusted loss per share was $0.60 compared to adjusted earnings of $0.08 per share last year.

Revenues dropped to $221.7 million from $239.6 million last year.

Analysts polled by Thomson Reuters expected the company to report loss of $0.74 per share and revenues of $231.79 million for the quarter. Analysts’ estimates typically exclude special items.

ICU Medical Q2 Profit Down

ICU Medical Inc. (ICUI) Monday reported second-quarter net income of $18.9 million or $0.88 per share, down from $22.8 million or $1.06 per share last year.

Adjusted earnings were $1.65 per share, down from $1.99 per share last year.

Second-quarter revenues was $303.4 million, down from $312.3 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share and revenues of $276.7 million for the quarter. Analysts’ estimates typically exclude special items.

Japan July bank loans rise 6.3% y/y – BOJ

TOKYO, Aug 11 (Reuters) – Japanese bank lending in July rose 6.3% from a year earlier, the Bank of Japan said on Tuesday.

Outstanding loans held by the country’s four main categories of banks, including “shinkin” or credit unions, stood at 572.706 trillion yen ($5.40 trillion). ($1 = 106.0600 yen) (Reporting by Chris Gallagher and Leika Kihara; Editing by Jacqueline Wong)

Ed Markey Slams Ted Cruz’s Comments In Senator Spat Over Coronavirus Relief

Sen. Ted Cruz (R-Texas) came under fire Monday for jokes he made about giving coronavirus relief payments to struggling Americans.

Cruz’s comments came in response to a tweet by Sen. Ed Markey (D-Mass.), who suggested Congress prop up the faltering U.S. economy by sending every person in the country money until three months after the pandemic ends.

Cruz sarcastically countered that Markey was thinking too small. (Some conservatives have argued, despite evidence to the contrary, that giving Americans money to survive when there aren’t enough jobs will make them lazy.)

Markey wasn’t having it.

So far, Cruz hasn’t responded to Markey. Meanwhile, many other Twitter users chose to pounce on the Texas senator’s heartless response.

Others found Cruz’s remarks odd because they seemed to suggest that soy lattes are a rich person’s luxury.

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Trump said the 1918 Spanish Flu 'probably ended' WWII, which did not begin until 21 years after the pandemic

  • During an eventful press briefing on Monday, President Donald Trump incorrectly claimed that in 1917, the Spanish Flu "probably ended the second World War."
  • World War II began more than two decades after the pandemic in 1939.
  • The president likely misspoke and meant to reference World War I, the final months of which overlapped with the deadly spread of the flu pandemic, which also began in the summer of 1918, not 1917.
  • The deployment of troops during World War I likely contributed to the spread of the 1918 flu due to crowded conditions and intercontinental movement, according to the Centers for Disease Control and Prevention.
  • Trump also said during the press conference that the Spanish Flu, which he referenced as the "great pandemic," killed anywhere between 50 to 100 million people.
  • The 1918 pandemic, which was caused by an H1N1 virus, infected as many as 500 million people worldwide, and it killed at least 50 million people, according to the CDC.
  • Comparisons have been drawn between the deadly 1918 pandemic and the current COVID-19 pandemic due to its similarity in a rapid and deadly spread.
  • Billionaire philanthropist Bill Gates said there are lessons from the handling of the Spanish flu that could be applied to the national and global coronavirus response.
  • Visit Business Insider's homepage for more stories.

 

Nutrien Q2 Profit Down; Cuts 2020 Adj. EPS View

Nutrien Ltd. (NTR,NTR.TO) reported that its second-quarter net earnings decreased to $765 million or $1.34 per share from $858 million or $1.47 per share in the prior year. The second-quarter of 2020 net earnings were lower than the same period in 2019 primarily due to significantly lower crop nutrient prices. This was mostly offset by strong Retail revenue and gross margin growth, higher crop nutrient volume sales, solid operational results and the benefit of an asset retirement obligation change in estimate. COVID-19 had limited impact on its business in the period.

Adjusted net earnings for the latest-quarter were $1.45 per share.

Sales for the quarter declined to $8.42 billion from $8.69 billion in the prior year.

Nutrien declared a quarterly dividend of $0.45 per share payable October 16, 2020 to shareholders of record on September 30, 2020.

The company said it lowered the top of the range for its 2020 adjusted net earnings guidance to $1.50 to $1.90 per share from the prior range of $1.50 to $2.10 per share, due to lower ammonia and UAN prices.

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