Johnson Plan to Suspend Parliament Challenged by Gina Miller

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Gina Miller, a Brexit opponent, has filed an urgent application for a legal challenge to stop Prime Minister Boris Johnson from suspending Parliament.

Miller has applied for a judicial review about whether suspending Parliament undermines its sovereignty, she said in a statement. It comes after Johnson said Wednesday he plans to close Parliament for almost five weeks, until a Queen’s Speech on Oct. 14.

That move is “a brazen attempt, of truly historical magnitude, to prevent the executive being held accountable for its conduct before Parliament,” Miller said in the statement. The 54-year-old previously led a lawsuit that forced the government to allow lawmakers to vote on starting the Brexit process.

A similar legal challenge is already pending in Scotland and could be heard as soon as Thursday.

Williams-Sonoma Inc. Q2 adjusted earnings Beat Estimates

Williams-Sonoma Inc. (WSM) released earnings for its second quarter that increased from last year.

The company’s profit totaled $62.65 million, or $0.79 per share. This compares with $51.71 million, or $0.62 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.0% to $1.37 billion from $1.28 billion last year.

Williams-Sonoma Inc. earnings at a glance:

-Earnings (Q2): . vs. . last year.
-EPS (Q2): $0.87 vs. $0.77 last year.
-Analysts Estimate: $0.84
-Revenue (Q2): $1.37 Bln vs. $1.28 Bln last year.

-Guidance:
Full year EPS guidance: $4.60 – $4.80
Full year revenue guidance: $5.74 – $5.90 Bln

Okta shares up 3% on better-than-expected Q2 results

Okta Inc. OKTA, -1.41% shares improved 3% in the extended session Wednesday after the identity and access management company reported second-quarter results that beat Wall Street estimates. The San Francisco-based company reported a non-GAAP net loss of $5.5 million, or 5 cents a share. Revenue rose 49% year-over-year to $140.5 million. Analysts surveyed by FactSet had expected a loss of 10 cents a share on revenue of $131.2 million. Okta shares are up 109% this year. The S&P 500 index SPX, +0.65% has gained 15% this year.

Nutanix stock shoots more than 15% higher after earnings beat

Nutanix Inc. NTNX, +2.51% wrapped up a year of transition from a hardware-focused business to a software business with continued declines in sales and losses, but beat diminished expectations with a quarterly report Wednesday afternoon and received a healthy stock bump. Nutanix reported fiscal fourth-quarter losses of $194.3 million, or $1.04 a share, on revenue of $299.9 million, down from sales of $303.7 million a year ago. After adjusting to remove stock-based compensation and other costs, Nutanix reported losses of 57 cents a share, worse than an adjusted loss of 11 cents a share a year ago. Analysts on average expected adjusted losses of 64 cents a share on sales of $294 million, according to FactSet. Nutanix shares, which have lost more than half their value in 2019 amid the bumpy transition, shot more than 15% higher in after-hours trading following the release of the results.

Williams-Sonoma’s Q2 earnings come above views

Williams-Sonoma Inc. WSM, +0.56% said Wednesday its net income for the second quarter rose and the company beat analysts’ expectations.

The home products retailer reported net income of $62.6 million, or 79 cents a share, compared with $51.7 million, or 62 cents a share, a year earlier.

Adjusted earnings were 87 cents a share. Analysts polled by FactSet expected adjusted earnings of 83 cents a share.

Net revenue was $1.37 billion, higher than the $1.28 billion it brought in a year earlier.

Analysts expected sales of $1.31 billion.

Write to Robert Barba at [email protected]

Tennis: Federer rallies past Dzumhur to reach US Open third round

NEW YORK (AFP) – Swiss third seed Roger Federer, seeking his 21st Grand Slam title, advanced to the third round of the US Open on Wednesday (Aug 28) by defeating 99th-ranked Bosnian Damir Dzumhur 3-6, 6-2, 6-3, 6-4.

The 38-year-old five-time US Open champion, who last won the Flushing Meadows title in 2008, will next face either French 25th seed Lucas Pouille or Britain’s 58th-ranked Dan Evans.

US STOCKS SNAPSHOT-Stocks climb on energy, financials lift

NEW YORK, Aug 28 (Reuters) – U.S. stocks climbed on Wednesday, recovering from early session declines on gains in energy and financial shares, but investors remained leery about the potential for another flare-up in U.S.-China trade tensions.

The Dow Jones Industrial Average rose 257.59 points, or 1%, to 26,035.49, the S&P 500 gained 18.79 points, or 0.65%, to 2,887.95 and the Nasdaq Composite added 29.94 points, or 0.38%, to 7,856.88. (Reporting by Chuck Mikolajczak Editing by Alistair Bell)

EARNINGS SUMMARY: Details of H&R Block Inc. Q1 Earnings Report

Below are the earnings highlights for H&R Block Inc. (HRB):

-Earnings: -$146 million in Q1 vs. -$149 million in the same period last year.
-EPS: -$0.72 in Q1 vs. -$0.72 in the same period last year.
-Analysts projected -$0.75 per share
-Revenue: $150 million in Q1 vs. $145 million in the same period last year.

European Economics Preview: Eurozone Flash PMI Data Due

Flash Purchasing Managers’ survey data from euro area is due on Thursday, headlining a light day for the European economic news.

At 2.30 am ET, the Federal Statistical Office is scheduled to publish Swiss industrial output figures for the second quarter.

At 3.15 am ET, IHS Markit releases France’s composite PMI results. Economists forecast the composite PMI to remain unchanged at 51.9 in August.

At 3.30 am ET, Germany’s flash PMI report is due. The composite index is seen at 50.6 in August versus 50.9 in July.

Half an hour later, IHS Markit is set to issue Eurozone composite PMI data. The index is expected to fall to 51.2 in August from 51.5 in July.

At 6.00 am ET, the Confederation of British Industry is set to release quarterly Distributive Trades survey. The reported sales balance is forecast to rise to -15 percent in August from -16 percent in July.

At 7.30 am ET, the European Central Bank is slated to publish the accounts of the monetary policy meeting of the Governing Council held on July 24 and 25.