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By Eric Asimov

Walker Edison Recalls About 121K Bunk Beds

Walker Edison Furniture recalls about 121,000 twin over twin bunk beds due to risk of fall.

According to the Consumer Product Safety Commission, the wooden slats supporting the bunk beds can break while in use, posing fall and impact hazards. The company said it received reports of 14 incidents of the bunk beds slats breaking, including one report of minor injuries.

The recall involves Walker Edison Furniture Twin Over Twin Bunk Beds. The wooden bunk beds were sold in various colors and finishes. All models have a ladder down the side. Walker Edison Furniture, Made in Brazil and the model name are printed on a label on the inside of the bed rail or foot board.

The recalled bunk beds were sold online at Walmart.com, HomeDepot.com, Amazon.com, Overstock.com and Wayfair.com from February 2010 through February 2022 for between $206 and $389.

The company has asked its customers to immediately stop using the recalled bunk beds and contact Walker Edison Furniture to receive a free repair kit consisting of 12 wooden slats and new instructions.

Dolby Laboratories Q2 Profit Increases, beats estimates

Dolby Laboratories (DLB) released a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line totaled $95.7 million, or $0.98 per share. This compares with $36.7 million, or $0.36 per share, in last year’s second quarter.

Excluding items, Dolby Laboratories reported adjusted earnings of $122.6 million or $1.26 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 12.4% to $375.9 million from $334.4 million last year.

Dolby Laboratories earnings at a glance (GAAP) :

-Earnings (Q2): $95.7 Mln. vs. $36.7 Mln. last year.
-EPS (Q2): $0.98 vs. $0.36 last year.
-Analyst Estimate: $0.97
-Revenue (Q2): $375.9 Mln vs. $334.4 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.47 – $0.62
Next quarter revenue guidance: $285-$315 mln
Full year EPS guidance: $3.15 – $3.65
Full year revenue guidance: $1.27-$1.33 bln

BIO RAD LABORATORIES INC Q1 Earnings Summary

Below are the earnings highlights for BIO RAD LABORATORIES INC (BIO):

Earnings: $69 million in Q1 vs. -$3.37 billion in the same period last year.
EPS: $2.32 in Q1 vs. -$112.50 in the same period last year.
Excluding items, BIO RAD LABORATORIES INC reported adjusted earnings of $99.4 million or $3.34 per share for the period.

Analysts projected $3.54 per share
Revenue: $676.8 million in Q1 vs. $700.1 million in the same period last year.

Oil Futures Settle Slightly Lower

Crude oil futures pared early losses and settled just slightly lower on Thursday due largely to some short-covering and speculative buying.

West Texas Intermediate Crude oil futures for June ended down $0.04 at $68.56 a barrel, recovering well from a low of $63.57 a barrel.

Brent crude futures dropped to a low of $71.42 a barrel but subsequently recovered and were hovering around $72.50 a barrel a little while ago, gaining about $0.17.

Edward Moya, Chief Market Analyst at OANDA says crude prices remain heavy on weakening demand from Asia and as U.S. banking turmoil will eventually cripple the world’s largest economy.

Moya also feels the banking crisis might make the oil market start pricing a much worse recession for the U.S.. He says oil might struggle finding support around the mid $60s if equities continue to exhibit weakness.

Ligand Pharmaceuticals Inc Q1 Earnings Summary

Below are the earnings highlights for Ligand Pharmaceuticals Inc (LGND):

Earnings: $41.95 million in Q1 vs. -$15.39 million in the same period last year.
EPS: $2.33 in Q1 vs. -$0.91 in the same period last year.
Excluding items, Ligand Pharmaceuticals Inc reported adjusted earnings of $39.90 million or $2.28 per share for the period.

Revenue: $43.98 million in Q1 vs. $36.52 million in the same period last year.

-Guidance:
Full year EPS guidance: $4.60 to $4.75

Reinsurance Group Of America Inc Q1 Profit Increases, beats estimates

Reinsurance Group Of America Inc (RGA) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company’s bottom line came in at $252 million, or $3.72 per share. This compares with $197 million, or $2.91 per share, in last year’s first quarter.

Excluding items, Reinsurance Group Of America Inc reported adjusted earnings of $349 million or $5.16 per share for the period.

Analysts on average had expected the company to earn $3.38 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.3% to $3.39 billion from $3.16 billion last year.

Reinsurance Group Of America Inc earnings at a glance (GAAP) :

-Earnings (Q1): $252 Mln. vs. $197 Mln. last year.
-EPS (Q1): $3.72 vs. $2.91 last year.
-Analyst Estimate: $3.38
-Revenue (Q1): $3.39 Bln vs. $3.16 Bln last year.