Tenet Healthcare Corp. Q2 adjusted earnings Beat Estimates

Tenet Healthcare Corp. (THC) announced earnings for second quarter that decreased from last year.

The company’s bottom line came in at $17 million, or $0.16 per share. This compares with $26 million, or $0.25 per share, in last year’s second quarter.

Excluding items, Tenet Healthcare Corp. reported adjusted earnings of $59 million or $0.56 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 rose 1.1% to $4.56 billion from $4.51 billion last year.

Tenet Healthcare Corp. earnings at a glance:

-Earnings (Q2): $59 Mln. vs. $51 Mln. last year.
-EPS (Q2): $0.56 vs. $0.49 last year.
-Analysts Estimate: $0.44
-Revenue (Q2): $4.56 Bln vs. $4.51 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.23 – $0.48
Full year EPS guidance: $2.08 to $2.59.
Full year revenue guidance: $18.0 – $18.4 Bln

Guidewire hires former Salesforce exec to be CEO

Guidewire Software Inc. GWRE, -4.73% said Monday afternoon that former Salesforce.com Inc. [S: crm] executive Mike Rosenbaum will be its new chief executive. Former CEO Marcus Ryu will become chairman of the company, while former chairman Peter Gassner will become an independent director. Guidewire also re-affirmed its revenue guidance for the fourth quarter. Rosenbaum was most recently executive vice president of product at Salesforce. "Mike’s experience in leading product development and go-to-market strategy at the world’s leading cloud enterprise software company make him the ideal leader to accelerate our progress," Ryu said in Monday’s announcement.

$145,000 at a steakhouse? Employee charged with embezzling $5 million from his company

RALEIGH, N.C. – A corporate executive in North Carolina is accused of stealing more than $5 million from his medical technology company, going on lavish trips, staying at the Trump International Hotel in New York, spending $145,000 at a steakhouse and making big donations to his church.

The News & Observer reports the embezzlement trial of Hugh Johnson II begins Monday. The former secretary at BMG LabTech allegedly took the money over six years, much of it using a company credit card.

State Bureau of Investigation documents show Johnson made more than 300 unauthorized wire transfers for himself and friends and owns three homes and five luxury vehicles.

Johnson told the judge at a bond hearing he’s an active churchgoer.

BMG LabTech fired Johnson and said the Ortenberg, Germany-based company remains financially strong.

Stocks hit Monday free fall: Dow plunges almost 900 points as trade war escalation with China pummels stock market

TREASURIES -U.S. longer-dated yields post biggest fall in 14 months

NEW YORK, Aug 5 (Reuters) – U.S. longer-dated Treasury yields on Monday recorded their steepest one-day drop in more than 14 months as investors scooped up low-risk government debt due to a worsening trade spat between China and the United States.

In late U.S. trading, yields on 10-year Treasury notes and 30-year bonds fell by nearly 14 and 13 basis points, respectively. This marked their biggest single-day decline since May 29, 2018 stemming from a safe-haven rally fueled by worries about a political crisis in Italy.

Marriott International Inc. Q2 adjusted earnings Inline With Estimates

Marriott International Inc. (MAR) released a profit for second quarter that fell from the same period last year.

The company’s profit totaled $232 million, or $0.69 per share. This compares with $667 million, or $1.87 per share, in last year’s second quarter.

Excluding items, Marriott International Inc. reported adjusted earnings of $525 million or $1.56 per share for the period.

Analysts had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 1.8% to $5.31 billion from $5.41 billion last year.

Marriott International Inc. earnings at a glance:

-Earnings (Q2): $525 Mln. vs. $619 Mln. last year.
-EPS (Q2): $1.56 vs. $1.73 last year.
-Analysts Estimate: $1.56
-Revenue (Q2): $5.31 Bln vs. $5.41 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.47 – $1.51
Next quarter revenue guidance: $945 – $960 Mln
Full year EPS guidance: $5.97 – $6.06
Full year revenue guidance: $3.820 – $3.850 Bln

Hot bakes and sizzling beats

This week, host Melissa Sim speaks with colleague Tan Hsueh Yun, who recommends bakery Slow Bakes in Novena.

Then, Anjali Raguraman reveals details about a party with DJ Kristian Nairn, who played Hodor in the award-winning series, Game Of Thrones, and who will be spinning at Ce La Vi Club Lounge on Aug 16.

Up to 30 Labour MPs prepared to vote for Brexit deal if PM secures fresh concessions: Telegraph

(Reuters) – Labour members of parliament are prepared to vote for a Brexit deal if British Prime Minister Boris Johnson secures fresh concessions from the European Union, the Telegraph reported on Monday.

Between 20 and 30 MPs are now ready to put their careers on the line to deliver Brexit should Johnson “get any sort of movement” from Brussels, the newspaper said, citing a senior backbencher.

A backchannel between Downing Street and opposition backbenchers is being coordinated by the Labour MP John Mann, the Telegraph said.

Executive charged with embezzling $5 million from BMG LabTech

RALEIGH, N.C. (AP) — A corporate executive in North Carolina is accused of stealing more than $5 million from his medical technology company, going on lavish trips, staying at the Trump International Hotel in New York, spending $145,000 at a steakhouse and making big donations to his church.

The News & Observer reports the embezzlement trial of Hugh Johnson II begins Monday. The former secretary at BMG LabTech allegedly took the money over six years, much of it using a company credit card.

State Bureau of Investigation documents show Johnson made more than 300 unauthorized wire transfers for himself and friends, and owns three homes and five luxury vehicles.

Johnson told the judge at a bond hearing he’s an active churchgoer.

BMG LabTech fired Johnson and said the Ortenberg, Germany-based company remains financially strong.