Kellogg Company Q4 Earnings Summary

Below are the earnings highlights for Kellogg Company (K):

Earnings: -$98 million in Q4 vs. $433 million in the same period last year.
EPS: -$0.29 in Q4 vs. $1.26 in the same period last year.
Excluding items, Kellogg Company reported adjusted earnings of $0.94 per share for the period.

Analysts projected $0.84 per share
Revenue: $3.83 billion in Q4 vs. $3.42 billion in the same period last year.

European Economic News Preview: Germany Inflation Data Due

Consumer prices data from Germany is the top economic news due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany’s provisional consumer prices data for January. Economists expect consumer price inflation to rise to 8.9 percent in January from 8.6 percent in December.

In the meantime, foreign trade figures are due from Romania.

At 3.30 am ET, Sweden’s central bank announces its interest rate decision. The bank is widely expected to raise its key rate by 50 basis points to 3.00 percent.

Ralph Lauren Corp. Q3 Profit Beats Estimates

Ralph Lauren Corp. (RL) reported earnings for third quarter that beat the Street estimates.

The company’s earnings totaled $216.5 million, or $3.20 per share. This compares with $217.7 million, or $2.93 per share, in last year’s third quarter.

Excluding items, Ralph Lauren Corp. reported adjusted earnings of $226.1 million or $3.35 per share for the period.

Analysts on average had expected the company to earn $2.92 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 0.5% to $1.83 billion from $1.82 billion last year.

Ralph Lauren Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $216.5 Mln. vs. $217.7 Mln. last year.
-EPS (Q3): $3.20 vs. $2.93 last year.
-Analyst Estimates: $2.92
-Revenue (Q3): $1.83 Bln vs. $1.82 Bln last year.

Cameco Corporation Q4 Earnings Summary

Below are the earnings highlights for Cameco Corporation (CCO.TO):

Earnings: -C$15 million in Q4 vs. C$11 million in the same period last year.
EPS: -C$0.04 in Q4 vs. C$0.03 in the same period last year.
Excluding items, Cameco Corporation reported adjusted earnings of C$36 million or C$0.09 per share for the period.

Revenue: C$524 million in Q4 vs. C$465 million in the same period last year.

U.S. Labor Productivity Surges 3.0% In Q4, More Than Expected

A report released by the Labor Department on Thursday showed U.S. labor productivity surged by more than expected in the fourth quarter of 2022.

The Labor Department said labor productivity spiked by 3.0 percent in the fourth quarter after jumping by an upwardly revised 1.4 percent in the third quarter.

Economists had expected labor productivity to shoot up by 2.4 percent compared to the 0.8 percent increase that had been reported for the previous quarter.

The stronger than expected productivity growth came as output surged by 3.0 percent, while hours worked rose by 0.5 percent. Productivity is a measure of output per hour.

The report also showed unit labor costs jumped by 1.1 percent in the fourth quarter after surging by a downwardly revised 2.0 percent in the third quarter.

Unit labor costs were expected leap by 1.5 percent compared to the 2.4 percent spike that had been reported for the previous quarter.

The slowdown in unit labor cost growth came as a 4.1 percent surge in hourly compensation was partly offset by the jump in productivity.

Real hourly compensation, which takes changes in consumer prices into account, increased by 1.0 percent in the fourth quarter after tumbling by 2.2 percent in the third quarter.

U.S. Wholesale Inventories Inch Up In Line With Estimates In December

Wholesale inventories in the U.S. edged slightly higher in the month of December, according to a report released by the Commerce Department on Wednesday.

The Commerce Department said wholesale inventories inched up by 0.1 percent in December after climbing by 0.9 percent in November. The uptick matched economist estimates.

A 0.9 percent increase in inventories of durable goods was largely offset by a 1.2 percent slump in inventories of non-durable goods.

Meanwhile, the report said wholesale sales were virtually unchanged in December after tumbling by 1.4 percent in the previous month.

While sales of durable goods jumped by 1.0 percent during the month, sales of non-durable goods decreased by 0.9 percent.

With inventories and sales both little changed, the inventories/sales ratio for merchant wholesalers was unchanged at 1.36 in December.

Pre-market Movers: CSII, APP, APPS, REVB, AFRM…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Cardiovascular Systems, Inc. (CSII) is up over 47% at $19.65.
AppLovin Corporation (APP) is up over 29% at $16.45.
Sonos, Inc. (SONO) is up over 15% at $20.60.
ZyVersa Therapeutics, Inc. (ZVSA) is up over 13% at $2.30.
Velo3D, Inc. (VLD) is up over 9% at $3.50.
MDU Resources Group, Inc. (MDU) is up over 7% at $32.50.
The Walt Disney Company (DIS) is up over 6% at $118.93.

In the Red

Digital Turbine, Inc. (APPS) is down over 19% at $13.02.
Revelation Biosciences, Inc. (REVB) is down over 18% at $4.35.
Affirm Holdings, Inc. (AFRM) is down over 16% at $13.30.
Purple Innovation, Inc. (PRPL) is down over 16% at $4.72.
aTyr Pharma, Inc. (LIFE) is down over 14% at $2.04.
Rapid7, Inc. (RPD) is down over 10% at $45.85.
Azenta, Inc. (AZTA) is down over 8% at $51.50.
Galapagos NV (GLPG) is down over 8% at $40.08.
JFrog Ltd. (FROG) is down over 8% at $22.01.
Mattel, Inc. (MAT) is down over 8% at $18.72.
Credit Suisse Group AG (CS) is down over 8% at $3.26.
Napco Security Technologies, Inc. (NSSC) is down over 6% at $32.15.