Thursday, 29 Jul 2021

Tractor Supply Boosts FY21 Outlook – Quick Facts

Pension Protection Fund compensation cap ‘must be disapplied’ – DWP’s appeal dismissed

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In a judgement handed down today, the appeal by the UK Government over the lawfulness of a cap on Pension Protection Fund compensation was dismissed. This means that the cap must be removed for affected members.

On Twitter, a post by the @PPF, Pension Protection Fund, read: “The Court of Appeal has now published the outcome of the Hughes judicial review and supported our approach for increasing payments to PPF & FAS members.

“It’s also confirmed that the PPF compensation cap must be disapplied.”

Sensient Technologies Buys Flavor Solutions For Undisclosed Terms

Wisconsin-headquartered Sensient Technologies Corporation (SXT), on Monday said it acquired the assets of privately held Flavor Solutions, Inc., a company that provides flavors and flavor technologies to the food, beverage, and nutraceutical markets. The financial details of the acquisition have not been disclosed.

The acquisition is expected to allow Sensient, a global manufacturer and marketer of colors, flavors, and other specialty ingredients to expand its flavor portfolio by expanding its traditional flavor offering as well as adding savory reaction flavors.

Sensient is also expected to gain by the technologies for natural shelf-life extension, additional sweetness enhancement and also salt reduction taste-modulation.

The shares of Sensient Technologies had closed at $82.25 on July 16, 2021, down $1.49 or 1.78 percent from previous close.

Amazon Restores Service After Outage

Amazon.com (AMZN) has restored its services after thousands of the online retail giant’s users complained about outages on Sunday, July 12, and Monday, July 13.

Services were reportedly interrupted at its online store and its cloud computing Amazon Web Services.

“Some customers may have temporarily experienced issues while shopping,” a company spokesperson told Reuters. “We have resolved the issue, and everything is now running smoothly.” However, the company did not reveal what was reason behind the outage.

According to Downdetector, more than 38,000 users indicated problems with online shopping. Users reported problems including with logging in and checking out.

Service disruptions were experienced across Amazon’s regional domains as well, with product listings unavailable on the retailer’s websites in the U.S., UK, Canada, France, India and Singapore.

Amazon users had previously witnessed a similar outage for briefly on June 24.

ProLogis Q2 adjusted earnings Beat Estimates

ProLogis (PLD) announced earnings for its second quarter that climbed from the same period last year.

The company’s earnings came in at $598.63 million, or $0.81 per share. This compares with $404.54 million, or $0.54 per share, in last year’s second quarter.

Excluding items, ProLogis reported adjusted earnings of $775.38 million or $1.01 per share for the period.

Analysts had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 9.4% to $1.15 billion from $1.27 billion last year.

ProLogis earnings at a glance:

-Earnings (Q2): $775.38 Mln. vs. $853.64 Mln. last year.
-EPS (Q2): $1.01 vs. $1.11 last year.
-Analysts Estimate: $0.44
-Revenue (Q2): $1.15 Bln vs. $1.27 Bln last year.

-Guidance:
Full year EPS guidance: $4.02 to $4.06

Broncos LB Preview: All eyes on Von Miller after missing 2020 with ankle injury – The Denver Post

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Weight management firm Gelesis to list on NYSE via SPAC deal

(Reuters) – PureTech Health-founded Gelesis will list on the New York Stock Exchange through a merger with an acquisition vehicle, valuing the weight management firm at about $1.3 billion, it said on Monday.

Gelesis, founded by London-listed biotech firm PureTech, will merge with Capstar Special Purpose Acquisition Corp (SPAC), sponsored by affiliates of Capstar Partners LLC and funds managed by bond giant PIMCO.

Tractor Supply Boosts FY21 Outlook – Quick Facts

While reporting financial results for the second quarter on Monday, rural lifestyle retailer Tractor Supply Co. (TSCO) raised its earnings, net sales and comparable store sales guidance for the full-year 2021, based on its strong performance in the first half of 2021 and on what it can reasonably predict at this time.

Second-quarter comparable store sales increased 10.5 percent on top of 30.5 percent growth last year with a two-year stack of 41.0 percent.

For fiscal 2021, the company now projects earnings in a range of $7.70 to $8.00 per share on net sales between $12.1 billion and $12.3 billion, with comparable store sales growth of 11 to 13 percent.

Previously, the company expected earnings in a range of $7.05 to $7.40 per share on net sales between $11.4 billion and $11.7 billion, with comparable store sales growth of 5 to 8 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.38 per share on net sales growth of 9.6 percent to $11.64 billion for the year. Analysts’ estimates typically exclude special items.

The company also expects share repurchases for fiscal 2020 to be in the range of $500 million to $600 million and new store growth of about 80 new Tractor Supply and 10 new Petsense store openings.

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