Friday, 26 Apr 2024

Rogers Falls On Termination Of Merger Agreement With DuPont

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By David Tanis

Fielmann Sees Higher Q3 External Sales

German optics firm Fielmann AG (FLMNF.PK) expects third quarter external sales will increase to 536 million euros from the previous year’s 531.6 million euros.

Quarterly consolidated sales will rise to about 463 million euros from the previous year’s 460.8 million euros. Earnings before taxes amount to around 52.0 million euros compared to 85.4 million euros last year.

We also remain committed to our Vision 2025 and continue to invest in the digitalisation and internationalisation of our family business.

For 2022, the company expects external sales of about 2 billion euros, consolidated sales of around 1.75 billion euros and an EBT of over 160 million euros. The company said in July that it expected external sales of about 2 billion euros, consolidated sales of approximately 1.8 billion euros, and an EBT of more than 190 million euros for the full year 2022.

Cirrus Logic Up 7% On Improved Q2 Results

Shares of semiconductor company Cirrus Logic, Inc. (CRUS) are rising 7 percent on Wednesday’s trading after the company announced higher second-quarter profit, which also beat the Street estimates.

The company’s bottom line totaled $87.19 million, or $1.52 per share. This compares with $85.10 million, or $1.43 per share, in last year’s second quarter.

Excluding items, Cirrus Logic reported earnings of $114.49 million or $1.99 per share for the period. Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters.

The company’s revenue for the quarter rose 16 percent to $540.57 million from $465.89 million last year.

Currently at $72.69, the stock has traded between $61.94 and $95.84 during the past 52 weeks.

Chegg Spikes 27% On Higher Q3 Profit

Chegg, Inc. (CHGG) shares are surging more than 27 percent on Wednesday morning trade after the company reported a significant growth in profit for the third quarter, compared to the prior year.

The company reported earnings of $251.56 million or $1.23 per share, compared to $6.65 million or $0.05 per share in the previous year.

Looking ahead to the full year 2022, total revenues are expected to be in the range of $762-$765 million.

Currently, shares are at $26.83, up 27.11 percent from the previous close of $21.11 on a volume of 4,076,512.

Heartland Express Q3 Results Top Estimates

Heartland Express, Inc. (HTLD) reported Wednesday that net income for the third quarter edged down to $24.42 million from $24.47 million in the prior-year quarter, with earnings per share remaining flat with last year at $0.31.

Operating revenue for the quarter surged 79.5 percent to an all-time record of $274.0 million from $152.6 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share on revenues of $245.92 million for the quarter. Analysts’ estimates typically exclude special items.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Devon Energy Down 6% On Lower Dividend

Shares of oil and gas company Devon Energy Corp. (DVN) are down 6 percent on Wednesday’s trading after the management cut the quarterly dividend. In the third quarter, a dividend of $1.35 was announced, which is lower than the second quarter’s payout of $1.55.

The company had reported its third-quarter earnings on November 1. It posted earnings of $1.9 billion or $2.88 per share on revenues of $5.43 billion.

Currently at $71.58, the stock has traded between $35.55 and $79.40 during the past 52 weeks.

Match Group Stock Gains 6% On Quarterly Results

Shares of Match Group, Inc. (MTCH) are gaining nearly 6% on Wednesday morning after the company reported its third-quarter results, with profit beating Street estimates.

MTCH is currently trading at $46.48, up $2.58 or 5.88%, on the Nasdaq. The stock opened its trading at $51.85 after closing Tuesday’s trading at $43.90. The stock has traded between $40.23 and $164.56 in the past 52-week period.

Net income for the quarter dropped to $128.7 million or $0.44 per share from $131.2 million or $0.43 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.40 per share for the quarter.

In the third quarter, revenues was $810 million, up 1% year-over-year, driven by a 2% increase in payers and flat RPP.

Payers increased 2% to 16.5 million, up from 16.3 million in the prior year quarter. RPP was flat over the prior year quarter at $16.02, up 9%.

Looking forward to fourth quarter, the company expects total revenue of $780 million to $790 million. Analysts currently estimate revenues of $809.16 million.

Rogers Falls On Termination Of Merger Agreement With DuPont

Rogers Corp. (ROG) shares are sliding more than 43 percent on Wednesday morning trade after the company announced the termination of a merger agreement with DuPont de Nemours Inc. On Tuesday, DuPont noted that the two companies have been unable to obtain timely clearance from all the required regulators and will pay $162.5 million in termination fees to Rogers.

Currently, shares are at $128.99, down 43.79 percent from the previous close of $229.49 on a volume of 2,494,224.

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