Rite Aid Guides FY22 Well Below Analysts’ Estimates – Quick Facts

While reporting financial results for the first quarter of fiscal 2022 on Thursday, drugstore chain Rite Aid Corp. (RAD) initiated its adjusted loss and total revenue guidance for the full-year 2022, below analysts’ estimates.

For fiscal 2022, the company now projects an adjusted loss in a range of $0.79 to $0.24 per share on total revenues between $25.1 billion and $25.5 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.80 per share on revenues of $24.66 billion for the year. Analysts’ estimates typically exclude special items.

St. Modwen Agrees To Revised 560p/share Cash Offer From Blackstone Funds

UK-based real estate developer St. Modwen Properties PLC (SMP.L) Thursday said it has reached an agreement on the terms of an increased and final recommended cash offer by Blackstone-owned Brighton Bidco Limited.

Under the terms of the increased offer, each Scheme Shareholder will be entitled to receive 560 pence in cash for each St. Modwen share. The previous agreement was for 542 pence per share in cash.

The acquisition values St. Modwen’s entire issued, and to be issued, ordinary share capital at approximately 1.272 billion pounds.

The revised final offer price represents a premium of approximately 25.1 percent to the Closing Price of 448 pence on May 6, being the last Business Day before the commencement of the offer period.

The cash consideration payable to the St. Modwen Shareholders under the terms of the Increased Offer will be financed by equity to be invested by Blackstone Funds.

French court finds Natixis guilty in sub-prime exposure case

PARIS, June 24 (Reuters) – A French court ruled on Thursday that Natixis was guilty, in a court case related to subprime exposures, and it also imposed a fine of 7.5 million euros ($8.95 million) on the French bank.

Senior Responds To Lone Star’s No Intention To Bid Statement; Says Confident To Emerge Strongly

Responding to Lone Star Global Acquisitions, Ltd.’s confirmation that it does not intend to make an offer, Senior PLC (SNR.L) said it remains confident to emerge strongly as the recovery continues across its end-markets.

Earlier in the day, LSF XI Investments, LLC, a company advised by Lone Star, announced its decision to not make an offer to Senior.

Lone Star reserves the right to make or participate in an offer for Senior within six months of the date of this announcement.

Lone Star in late May had confirmed that on May 20 it made a third proposal to Senior regarding a possible cash offer for Senior at 176 pence. The Proposal has been rejected by the Senior Board.

On June 21, Lone Star further announced that it has made a fifth and final proposal to Senior regarding a possible cash offer for Senior at 200 pence. This proposal too has been rejected by the Senior Board.

In its statement, Senior said its Board continues to believe that Senior has a focused and compelling strategy to achieve growth and create value for shareholders over the medium-term.

The company will provide a post-close trading update on July 9.

Mukesh Ambani announces ₹75,000 crore investment in clean energy

Addressing the company’s annual shareholder meeting, he said Reliance will set up 100GW of solar power generating capacity.

Billionaire Mukesh Ambani on Thursday announced a ₹75,000 crore investment in setting up four ‘Giga’ factories to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.

Addressing the company’s annual shareholder meeting, he said Reliance will set up 100GW of solar power generating capacity.

“We plan to build four Giga Factories to manufacture and integrate all critical components of new energy ecosystem – solar photovoltaic module factory, energy storage battery factory, electrolyser factory, fuel cell factory,” Mr. Ambani said.

These four factories will involve an investment of ₹ 60,000 crore.

“We will invest an additional ₹15,000 crore in the value chain, partnerships and future technologies, including upstream and downstream industries. Thus, our overall investment in the new energy business will be ₹75,000 crore in 3 years,” he said.

Last year, he had announced a 15-year commitment to become net carbon zero by 2035.

“The age of fossil fuels, which powered economic growth globally for nearly three centuries, cannot continue much longer,” he said.

“In 2016, we launched Jio with the aim of bridging the Digital Divide in India. Now, in 2021, we are launching our new energy business with the aim of bridging the green energy divide in India and globally.”

Darden Restaurants Guides FY22 In Line With View; Raises Dividend 25% – Quick Facts

While reporting financial results for the fourth quarter on Thursday, restaurant company Darden Restaurants, Inc. (DRI) provided earnings and sales guidance for the full year 2022, in line with analysts’ estimates.

For the fiscal 2022, the company now projects net earnings from continuing operations in a range of $7.00 to $7.50 per share on total sales of between $9.2 billion and $9.5 billion, with same-restaurant sales of 25 to 29 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.21 per share on total sales of $9.22 billion for the year. Analysts’ estimates typically exclude special items.

Darden’s Board of Directors also declared a 25 percent regular quarterly cash dividend of $1.10 per share on the Company’s outstanding common stock, payable on payable on August 2, 2021 to shareholders of record at the close of business on July 9, 2021.

Paul George ‘looks pretty tired’ while logging heavy minutes during Clippers’ playoff run

PHOENIX – As he stepped to the free-throw line, Los Angeles Clippers forward Paul George witnessed two things.

He heard loud boos coming from all directions. He also saw fans waving their hands frantically in hopes of distracting them.

Moments later, George missed two free-throws. Not to overlook Suns center Deandre Ayton throwing down a lob off an inbounds pass that led to Phoenix’s 104-103 win over the Clippers on Tuesday in Game 2 of the Western Conference Finals. But George’s missed foul shots with 8.2 seconds left and the Clippers also marked a critical turning point.

After struggling during last year’s playoff collapse in the bubble, did George become overwhelmed with this moment as well?