Thursday, 29 Oct 2020

Trip.com Group Limited Q2 adjusted earnings of -RMB1.93 per share

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Brazil announces new measures to expand credit to micro-sized firms

BRASILIA, Sept 24 (Reuters) – Brazil’s National Monetary Council (CMN) on Thursday announced new measures to expand and speed up the flow of credit to micro-sized businesses, many of whom have been hardest hit by the economic shock from the COVID-19 pandemic.

The CMN, Brazil’s highest economic policy body including the economy minister and central bank president, expanded the micro-credit program to firms with annual gross revenue up to 360,000 reais ($65,000) from 200,000, and will now allow credit to be obtained 100% online.

AAR Posts Q1 Loss

AAR CORP. (AIR) Thursday reported first-quarter loss from continuing operations of $13.9 million or $0.40 per share, compared to income from continuing operations of $17.1 million or $0.49 per share last year.

Adjusted diluted earnings from continuing operations in the first quarter were $0.17 per share compared to $0.57 per share last year.

Sales for the quarter dropped to $400.8 million from $541.5 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.05 per share on revenues of $381.71 million.

Scholastic Q1 Loss Narrows

Scholastic Corp. (SCHL) Thursday reported first-quarter net loss of $39.8 million or $1.16 per share, compared to a net loss in the prior year period of $58.5 million or $1.68 per share.

Excluding one-time items, first-quarter loss was $0.90 per share, compared to a loss of $1.59 per share last year.

First-quarter revenue was $215.2 million, a decrease of 7% compared to $232.6 million last year.

Has your insurance made it harder to get a COVID-19 test? The Denver Post wants to talk to you – The Denver Post

Denver Post reporter Meg Wingerter is looking into reports that some insurance companies in Colorado are making it harder to get tested for the new coronavirus, or refusing to pay unless you meet certain criteria.

If you’ve had trouble getting tested because of your insurance, we’d like to talk to you. Please fill out the form below if you’re interested in sharing your experience.

Costco Wholesale Q4 Profit Rises

Costco Wholesale (COST) Thursday reported fourth-quarter profit of $1.389 billion or $3.13 per share, up from $1.097 billion or $2.47 per share last year.

Total revenues for the quarter increased to $53.38 billion from $47.50 billion last year. Comparable sales rose 11.4% for the quarter.

Analysts polled by Thomson Reuters expected earnings of $2.83 per share on revenues of $52.08 billion.

Stocks making the biggest moves after hours: Novavax, Costco & more

Here are the companies making headlines in extending trading.

Novavax — Shares of the biotech company rose more than 4% after Novavax announced that it had started a phase three trial in the United Kingdom for its coronavirus vaccine candidate. Novavax said the trial would involve up to 10,000 patients over the next four to six weeks.

Costco — Shares of the retailer fell 2.6% after reporting its results for its fiscal fourth quarter. The company reported $53.38 billion of revenue, $1.3 billion above what analysts were expecting, according to Refinitv. Costco also beat earnings estimates, reporting adjusted earnings per share of $3.04 versus $2.84 expected. The company said it had $281 million of expenses related to the pandemic.

Bristol-Myers Squibb — The pharmaceutical stock gained 3% in extended trading after the company announced positive results from a phase three trial of its immunotherapy Opdivo for bladder cancer patients. The trial will continue for the investigators to gather more data.  

Trip.com Q2 Loss Widens

Trip.com Group Limited (TCOM) reported second-quarter net loss of RMB476 million or RMB0.80 per ADS, compared to RMB403 million or RMB0.73 per ADS last year.

Adjusted losses per ADS for the quarter were RMB1.93 or $0.27.

Second-quarter revenues dropped to RMB3.16 billion from RMB8.70 billion last year. On US Dollar basis, revenues were $448 million for the quarter.

Analysts polled by Thomson Reuters expected a loss of $0.46 per share on revenues of $343.11 million.

Trip.com Group Limited Q2 adjusted earnings of -RMB1.93 per share

Below are the earnings highlights for Trip.com Group Limited (TCOM):

-Earnings: -RMB476 million in Q2 vs. -RMB403 million in the same period last year.
-EPS: -RMB0.80 in Q2 vs. -RMB0.73 in the same period last year.
-Excluding items, Trip.com Group Limited reported adjusted earnings of -RMB1.16 billion or -RMB1.93 per share for the period.
-Revenue: RMB3.16 billion in Q2 vs. RMB8.70 billion in the same period last year.

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