Dycom Industries Expects Q4 Revenues To Be Modestly Lower – Quick Facts

While reporting financial results for the third quarter on Tuesday, specialty contracting services firm Dycom Industries, Inc. (DY) said it anticipates contract revenues for the fourth quarter to be modestly lower with margins to range from in-line to modestly lower from last year.

On average, 7 analysts polled by Thomson Reuters expect the company to report earnings of $0.23 per share on revenues of $744.13 million for the quarter. Analysts’ estimates typically exclude special items.

The company said it believes the impact of the COVID-19 pandemic on its operating results, cash flows and financial condition is uncertain, unpredictable and could affect its ability to achieve these expected financial results.

Jacobs Engineering Buys The Buffalo Group For Undisclosed Terms – Quick Facts

Professional services provider Jacobs Engineering Group Inc. (JEC) announced Tuesday that it has acquired The Buffalo Group, a leader in advanced cyber and intelligence solutions. The terms of the acquisition were not disclosed.

The acquisition further strengthens Jacobs’ leading portfolio of national priority mission-focused, government solutions in the cyber domain and the Intelligence Community (IC).

The Buffalo Group brings high-impact analytical and technology capabilities to the U.S. Intelligence Community for key missions across multi-domains including cyber, ground, sea, airborne and space.

Yellen Selection, Central Bank Stress, Trade Relief: Eco Day

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• President-elect Joe Biden’s selection of Janet Yellen as Treasury secretary signals that he plans to act aggressively to revive the world’s biggest economy, putting a former Federal Reserve chair who’s not shied away from stimulus at the helm of his economic policy
  • That news was greeted with a “sigh of relief” on Wall Street

  Markets surge to lifetime highs; Nifty breaches 13,000-mark

  Sector-wise, BSE bankex, auto and finance indices rose up to 2.37%

  Equity benchmarks Sensex and Nifty rallied to fresh lifetime highs on Tuesday following heavy buying in banking, financial, realty and auto counters amid persistent foreign capital inflows.

  A strengthening rupee also boosted market sentiments, traders said.

  After scaling a record intra-day high of 44,601.63, the 30-share BSE Sensex ended 445.87 points or 1.01% higher at a record 44,523.02.

  Similarly, the broader NSE Nifty rose 128.70 points or 1% to close above the 13,000-mark for the first time at 13,055.15.

  Axis Bank was the top gainer in the Sensex pack, surging around 4%, followed by M&M, HDFC Bank, ITC, SBI, ICICI Bank, Maruti, Kotak Bank and Sun Pharma.

  On the other hand, HDFC, Titan, Nestle India, Bharti Airtel, ONGC and Infosys were among the laggards.

  Sector-wise, BSE bankex, auto and finance indices rose up to 2.37%.

  Foreign institutional investors remained net buyers in the capital market as they purchased shares worth ₹4,738.44 crore on Monday, according to provisional exchange data.

  The rupee appreciated 10 paise to close at 74.01 against the U.S. dollar.

  Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with significant gains, while Shanghai closed in the red.

  Stock exchanges in Europe were trading on a mixed note in early deals.

  Meanwhile, Brent crude futures, the global oil benchmark, rose 0.85% to $46.45 per barrel.

  Dollar Tree Q3 Profit Rises; Results Beat View – Quick Facts

  Dollar Tree Inc. (DLTR) reported that its net income for its third quarter ended October 31, 2020 rose to $330.0 million or $1.39 per share, from $255.8 million or $1.08 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share for the quarter. Analysts’ estimates typically exclude special items.

  Net sales for the third-quarter increased 7.5% to $6.18 billion from $5.75 billion last year. Analysts expected revenues of $6.12 billion for the quarter.

  Enterprise same-store sales increased 5.1%. Same-store sales for Family Dollar increased 6.4%. Dollar Tree same-store sales increased 4.0%.

  The company said it did not provide updated guidance, due to continued volatility and uncertainty related to the COVID-19 pandemic, as well as a lack of visibility into government stimulus initiatives.

  The company now expects the completion of approximately 480 new store openings and 750 Family Dollar H2 store renovations in fiscal 2020.

  The company said it ended the quarter with $1.12 billion in cash on its balance sheet. It paid down the remaining $500 million on its revolving line of credit during the third quarter. Additionally, the company plans to pay off a $300 million legacy Family Dollar note due in February 2021.

  Rachel Maddow Rings The Alarm On How Trump’s ‘Setting The Place On Fire’ As He Leaves

  Rachel Maddow on Monday warned what’s being “overlooked” as President Donald Trump tries to “stretch out defying” the result of the 2020 election.

  The host of MSNBC’s “The Rachel Maddow Show” said Trump’s ongoing legal challenges of the vote were not just a waste of time but also “a distraction from the stuff” that his administration is doing “on its way out the door to mess up the country as much as they can.”

  As one example, Maddow noted how the Trump White House had earlier in the day officially withdrawn the United States from the Open Skies Treaty which allows 34 nations to conduct observation flights over each other’s territories.

  And, the anchor explained, President-elect Joe Biden’s incoming administration will find it tough to rejoin the treaty — because the Trump administration has reportedly ordered for the specialized aircraft the U.S. uses in its flights to be destroyed.

  “We have not paid enough attention to the way the Trump administration is setting the place on the fire as they are walking outside the door but it is now time to turn our attention to that,” said Maddow.

  Check out Maddow’s comments above and below:

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