Thursday, 28 Mar 2024

Scotts Miracle-Gro shares rally more than 6% after earnings boosted by cannabis states

Boeing Shares Climb

Shares of Boeing are rising more than 2 percent in morning trade on Wednesday at $323.76. The stock has been trading in a range of $302.72 and $446.01 in the past 52 weeks.

Today, Boeing said it is focused on returning the 737 Max aircraft to service safely. The 737 Max aircraft were grounded by airlines worldwide in March last year following two deadly crashes within a short span of five months that killed a total of 346 people.

Boeing reported a loss for the fourth quarter, reflecting impacts of the 737 MAX grounding. Quarterly revenues declined 36.8 percent. Adjusted loss per share and revenue for the quarter missed analysts’ expectations.

Earlier this week, Boeing had successfully completed the first test flight of the world’s longest and largest twin-engine jet, the 777X.

The company expects to deliver the first 777X in 2021. The aircraft has won 340 orders and commitments from leading carriers around the world.

Knight-Swift Transportation Q4 Profit Tops Estimates; Revenue Down 14.2%

Knight-Swift Transportation Holdings Inc. (KNX) reported fourth-quarter adjusted earnings per share of $0.55, which includes a $20.3 million pre-tax adjustment related to additional legal accruals, compared to $0.93, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.52, for the quarter. Analysts’ estimates typically exclude special items.

Fourth-quarter total revenue declined 14.2% to $1.20 billion. Analysts expected revenue of $1.22 billion for the quarter.

For the first-quarter, Knight-Swift Transportation now expects adjusted EPS to range from $0.35 to $0.38, updated from prior guidance range of $0.42 to $0.46. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.38.

For full-year 2020, the company expects adjusted EPS to range from $2.00 to $2.15. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.04.

Stock Alert: K12 Shares Touch New Low After Lowering Guidance

Shares of online education provider K12 Inc. (LRN) touched a new low of $16.04 today. Two days back, the company sliced its fiscal 2020 adjusted operating income expectations to $48 million to $52 million, from prior projections of $68 million to $72 million. K12 attributed the guidance reduction primarily to purchase price accounting adjustments relating to its $165 million acquisition of Galvanize Inc., which offers coding boot camp programs.

From a high of $37.4 reached in mid-April last year, the stock has erased more than 50% of its value to touch a new low today. Yesterday, the stock lost 15% to close at 16.62, on a trading volume of 1.26 million shares, nearly 4 times the average trading volume of 316k.

Stock Alert: Intelsat S.A. Touches New Low

Shares of Intelsat S.A. (I) are currently trading down more than 24% at $4.10, after touching its 52-week low of $3.91. The stock lost more than 80% in the past one year.

When it reported third-quarter results, revenue was 6% down year-over-year at $506.7 million. Net loss per share, however, narrowed to $1.05 from $2.74 in the same quarter a year ago.

For the full-year 2019, revenue is expected in the range of $2 billion- $2.06 billion. The Street expects the company to report revenue of $2.05 billion. Fourth-quarter earnings results are expected to be reported on February 19.

Sudan protests: Opposition groups divided over demands

Some say the government should step down now, while others prefer to wait for the election for transfer of power.

    For the past four weeks, Sudan has been witnessing a wave of anti-government protests.

    Some opposition groups are supporting the demonstrators but others are keeping their distance.

    Al Jazeera’s Hiba Morgan takes a closer look at Sudan’s political landscape.

    Mexico pipeline blast kills 66: Army, police to guard pipelines

    President Andres Manuel Lopez Obrador has ordered to shut down many petrol pipelines.

      The Mexican government has sent the police and the army to guard petrol pipelines. In addition, President Andres Manuel Lopez Obrador has ordered many of them to shut down because petrol was being pilfered by gangs and corrupt officials.

      The economy of Mexico is projected to lose around $1bn because of the fuel theft.

      Reporting from Mexico City, Al Jazeera’s John Holman tells us if Obrador’s approach is helping.

      Scotts Miracle-Gro shares rally more than 6% after earnings boosted by cannabis states

      The Scotts Miracle-Gro Co. shares SMG, +6.13% rose more than 6% Wednesday, after the provider of lawn and garden and indoor growing products topped estimates for the fourth quarter. The company said it had a net loss of $71.4 million, or $1.28 a share, in the quarter, narrower than the $79.6 million loss, or $1.44 a share, posted in the year-earlier period. The company typically posts a loss in the first quarter, given the seasonal nature of the garden category. Excluding special items, the loss came to $1.12, better than the $1.27 loss consensus of FactSet analysts. Sales rose 23% to $365.8 million from $298.1 million, topping the $342 million FactSet consensus. The company’s Hawthorne business, which makes hydroponic equipment and indoor growing products, generated double-digit growth in California and Colorado, two the the biggest cannabis markets in the U.S. Emerging cannabis states Michigan and Florida also showed strong growth, said Chief Executive Jim Hagedorn. "As we look to the balance of the year, we remain confident in our fiscal 2020 guidance of company-wide sales growth of 4 to 6%, adjusted earnings in a range of $4.95 to $5.15 per share and free cash flow of approximately $300 million." Shares have gained 66% in the last 12 months, while the S&P 500 SPX, +0.11% has gained 24%.

      Related Posts