- Scott Peters
- 03 Aug, 2022
- New York City
Advanced Micro Devices, Inc fell 3.2% to $96.17 after the semiconductor chipmaker said revenues in the second quarter increased 70% to $6.55 billion and gross margin declined to 46% from 48% a year ago.
Net income in the second quarter decreased 37% to $447 million from $710 million a year ago and diluted earnings per share fell 53% to 27 cents from 58 cents in the period.
AMD reported eighth record quarterly revenues in a row.
For the third quarter, AMD expects revenues to rise 55% from a year ago to $6.7 billion with a band of $200 million.
For the full-year revenues are expected to rise 60% to $26.3 billion with a band of $300 million.
- Barry Adams
- 03 Aug, 2022
- New York City
Stocks on Wall Street gained for the second day in a row and investors looked beyond the recent tensions between the U.S. and China.
Stocks reacted to corporate earnings amid the worries of economic slowdown and steady drumbeat of Fed officials reiterating the central bank's commitment in lowering inflation to its target rate of 2%.
The S&P 500 index added 0.7% to 4,121.72 and the Nasdaq Composite index advanced 1.5% to 12,528.20.
Futures of crude oil increased 19 cents to $94.61 and natural gas rose a fraction to $7.70 a thermal unit.
AMD fell 3.2% to $96.17 after the semiconductor chipmaker said revenues in the second quarter increased 70% to $6.55 billion and gross margin declined to 46% from 48% a year ago.
Net income in the second quarter decreased 37% to $447 million from $710 million a year ago and diluted earnings per share fell 53% to 27 cents from 58 cents in the period.
AMD reported eighth record quarterly revenues in a row.
For the third quarter, AMD expects revenues to rise 55% from a year ago to $6.7 billion with a band of $200 million and for the full-year revenues to rise 60% to $26.3 billion with a band of $300 million.
Airbnb Inc declined 5.5% to $109.88 after the vacation home rental booking platform said second quarter revenues jumped 58% to $2.1 billion.
Airbnb swung to a profit of $379 million from a loss of $68 million in the year-ago quarter.
The weaker-than-expected revenues disappointed investors despite Airbnb booking 103 million nights and experiences in the quarter.
Expeditors International rose 0.8% to $103.05 after the company said second quarter revenues increased 28% to $4.6 billion.
Net income rose 19% to $378 million from $316.3 million and diluted earnings per share increased 23% to $2.27 from $1.84 a year ago.
The company guided current supply chain disruptions and logistics at ports, ocean freight shipping duration, and available air cargo capacity to improve despite the slowing down in the global economy.
"We do not see signs that these conditions are likely to improve significantly any time soon.
The unpredictability of COVID restrictions and lockdowns in China, as well as route restrictions and sanctions from the Ukraine conflict, continue to make global shipping a highly challenging business right now," said Bradley S. Powell, Senior Vice President and Chief Financial Officer.
Match Group Inc plunged 20.9% to $60.67 after the online dating site operator reported weaker-than-expected revenues of $795 million in its latest quarter.
The dating app operator also guided weaker revenues between $790 million and $800 million and adjusted earnings in the current quarter.
The number of paid users increased 10% to 16.4 million with the average subscriber paying 3% more to $15.86.
PayPal Holdings increased 9.6% to $98.30 after the payment processing company posted better-than-expected earnings and revised its outlook.
PayPal said second quarter revenues increased 9% to $6.8 billion and said total payment volume on its platform increased 9% to $339.8 billion from a year ago.
PayPal swung to a quarterly loss of $341 million or 29 cents a diluted share from $1.2 billion or $1.00 a diluted share a year ago.
Free cash flow increased 22% to $1.3 billion from $1.1 billion a year ago.
The company guided full-year 2022 revenues to increase 10% to $27.8 billion and total payment volume to jump 12% on spot basis to $1.4 trillion.
PayPal estimates 2022 earnings per share to fall between $1.52 and $1.62.
PayPal added 400,000 net new accounts in the quarter increasing its total active accounts 6% to 429 million and transaction processed increased 16% to 5.5 billion.
Payments processed per active account increased 12% to 48.7 in the last twelve months.
Robinhood Markets Inc increased 13% to $10.42 after the online brokerage for stocks, derivatives, and crypto-currencies said it plans to layoff 23% of its staff, after cutting its staff by 9% in April.
Second quarter revenues declined 44% to $318 million from $565 million and net loss shrank 44% to $295 million from $502 million a year ago.
Diluted loss per share fell to 34 cents from $2.16 a year ago.
On a sequential basis, monthly active users declined 1.9 million to 14.0 million and assets under custody plunged 31% to $64.2 billion but average revenues per user increased to $56 from $53.
Starbucks Corporation increased 1.5% to $85.0 and the coffee chain operator said fiscal third-quarter revenues increased 9% to $8.15 billion.
Net income fell to $912.9 million or 79 cents a share from $1.5 billion or 97 cents a share on higher wages and rising costs of raw materials.
U.S. same store sales increased 9% driven by larger order size and 1% increase in traffic. The coffee chain also said customers are not trading down or reducing their spending.
- Barry Adams
- 03 Aug, 2022
- New York City
Stocks on Wall Street gained for the second day in a row and investors looked beyond the recent tensions between the U.S. and China.
Stocks reacted to corporate earnings amid the worries of economic slowdown and steady drumbeat of Fed officials reiterating the central bank's commitment in lowering inflation to its target rate of 2%.
The S&P 500 index added 0.7% to 4,121.72 and the Nasdaq Composite index advanced 1.5% to 12,528.20.
Futures of crude oil increased 19 cents to $94.61 and natural gas rose a fraction to $7.70 a thermal unit.
Starbucks Corporation increased 1.5% to $85.0 and the coffee chain operator said fiscal third-quarter revenues increased 9% to $8.15 billion.
Net income fell to $912.9 million or 79 cents a share from $1.5 billion or 97 cents a share on higher wages and rising costs of raw materials.
U.S. same store sales increased 9% driven by larger order size and 1% increase in traffic. The coffee chain also said customers are not trading down or reducing their spending.
Match Group Inc plunged 20.9% to $60.67 after the online dating site operator reported weaker-than-expected revenues of $795 million in its latest quarter.
The dating app operator also guided weaker revenues between $790 million and $800 million and adjusted earnings in the current quarter.
The number of paid users increased 10% to 16.4 million with the average subscriber paying 3% more to $15.86.
Airbnb Inc declined 5.5% to $109.88 after the vacation home rental booking platform said second quarter revenues jumped 58% to $2.1 billion.
Airbnb swung to a profit of $379 million from a loss of $68 million in the year-ago quarter.
The weaker-than-expected revenues disappointed investors despite Airbnb booking 103 million nights and experiences in the quarter.
Eurozone Retail Sales Fall, PPI Soar
European markets advanced and investors looked beyond the rising tensions between the U.S. and China after House Speaker Nancy Pelosi concluded her visit to Taiwan.
Eurozone retail sales unexpectedly declined in June as higher prices and surging inflation weighed on consumer spending.
Eurozone retail sales volume declined 3.7% from a year ago and fell 1.2% from the previous month in June, according to the report released by the eurostat Wednesday.
A separate report from the statistics office showed producer prices remained elevated in June.
Producer prices surged 35.8% from a year ago and slowed from 36.2% in May. On a monthly basis, the prices rose 1.1% from May.
The wholesale prices surged after energy prices surged 92.8%and excluding energy, producer price inflation eased to 15.6% from 16.0% a month ago.
The DAX index gained 0.4% to 13,507.98, the CAC-40 index increased 0.7% to 6,455.96, and the FTSE 100 index added 0.4% to 7,435.21.
- Scott Peters
- 02 Aug, 2022
- New York City
Uber Technologies Inc rose 17.1% to $28.81 after the ride hailing platform said it turned cash flow positive for the first time.
Uber said gross bookings increased 33% from a year ago to $29.1 billion and revenues soared 105% to $8.1 billion.
Mobility segment revenues rose 120% to $3.55 billion, delivery segment revenues surged 43% to $2.7 billion, and freight revenues including a recent acquisition jumped six-fold to $1.8 billion.
Revenues in the U.S. and Canada jumped 149% to $4.9 billion and in Europe including the Middle East and Africa rose 99% to $1.9 billion.
Revenues in Latin America soared 57% to $481 million and in Asia Pacific jumped 14% to $810 million.
Uber swung to a quarterly loss of $2.6 billion or $1.33 a diluted share driven in part by investment losses of $1.7 billion.
Net loss includes a pre-tax mark-to-market write down of investments by $1.7 billion relating to Uber
- Scott Peters
- 02 Aug, 2022
- New York City
ZoomInfo Technologies Inc soared 10.9% to $41.88 after the business information provider lifted its full-year guidance.
Second quarter revenues increased 54% to $267.1 million and net income declined to $15.9 million or 4 cents a diluted share from $24.5 million or 5 cents a diluted a year ago.
ZoomInfo revised full-year 2022 revenues to between $1.08 billion and $1.09 billion from the previous estimate between $1.06 billion and $1.07 billion.
For the full-year, adjusted operating income estimated is revised higher between $433 million and $437 million from the previous estimate between $418 million and $424 million.
- Scott Peters
- 02 Aug, 2022
- New York City
Simon Property Group fell 1.1% to $107.11 after the largest mall operators reported second quarter revenues edged up to $1.27 billion from $1.25 billion a year ago.
Net income in the quarter declined to $569 million or $1.51 a diluted share from $706 million or $1.88 a diluted share a year ago.
The occupancy at the U.S. malls and premium outlets increased to 93.9% at the end of June quarter from 91.8% a year ago.
Base minimum rent per square foot was $54.58 at the end of June.
The company increased its quarterly dividend by 25 cents from a year ago to $1.75 a share payable on September 30, 2022 to shareholders of record on September 9, 2022.
- Scott Peters
- 02 Aug, 2022
- New York City
Avis Budget Group, Inc fell 7.6% to $167.83 after the car rental company said second quarter revenues rose 37% to $3.2 billion and net income soared 94% to $774 million from a year ago.
Diluted earnings per share rose to $15.94 from $5.90 a year ago.
The U.S. segment revenues rose 30% to $2.6 billion and international revenues surged 71% to $677 million from a year ago.
Average daily rental revenue increased 9% in constant currency to $78.19 and vehicle fleet expanded 32% to 500,653 units from a year ago.
- Brian Turner
- 02 Aug, 2022
- New York City
Job openings at the end of June declined 605,000 to 10.7 million or fell 6.6%, the Job Openings and Labor Turnover Survey released by the Bureau of Labor Statistics noted Tuesday.
Retail trade led the decline with 343,000 fewer postings followed by 82,000 in wholesale trade, and 62,000 in local and state government education.
Hires and total separations were little changed at 6.4 million and 5.9 million respectively.
- Barry Adams
- 02 Aug, 2022
- New York City
Benchmark indexes struggled to find their footing and closed down at the end of a choppy session.
Job openings at the end of June declined 605,000 to 10.7 million or fell 6.6%, the Job Openings and Labor Turnover Survey reported Tuesday.
Retail trade led the decline with 343,000 fewer postings followed by 82,000 in wholesale trade, and 62,000 in local and state government education.
Hires and total separations were little changed at 6.4 million and 5.9 million respectively.
The S&P 500 index decreased 27.34 or 0.7% to 4,091.10 and the Nasdaq Composite index fell 0.2% or 20.22 to 12,348.76.
Futures of crude oil rose 25 cents to $94.18 a barrel and natural gas fell 62 cents to $7.65 a unit.
The yield on 10-year U.S. Treasury notes edged up a fraction to 2.75% after tensions between the U.S. and China rose ahead of House Speaker Nancy Pelosi's visit to Taiwan.
Caterpillar fell 5.8% to $183.51 after the heavy equipment maker reported slightly lower than expected quarterly revenues because of its exit from Russia.
Uber Technologies Inc rose 18.9% to $29.25 after the ride hailing platform said it turned cash flow positive for the first time.
Uber said gross bookings increased 33% from a year ago to $29.1 billion and revenues soared 105% to $8.1 billion and swung to a quarterly loss of $2.6 billion or $1.33 a diluted share driven in part by investment losses of $1.7 billion.
Pinterest Inc rose 12.2% to $22.31 after the photo sharing platform said second quarter revenues increased 9% to $665.9 million and swung to a net loss of $43 million from net income of $69 million a year ago.
Pinterest's global active monthly users declined 5% from a year ago to 433 million.
The stock jumped after the activist investor Elliott Management confirmed that it is the largest shareholder in the company.
Cowen Inc increased 8.4% to $38.46 after the company agreed to be acquired by Toronto Dominion Bank for $39 a share or $1.3 billion in cash.
European Markets Trend Lower, AP Moller, BP, Generali In Focus
European markets traded lower on the worries that the rising tensions between the U.S. and China may spillover in the new round of trade war.
The DAX index declined 0.2% to 13,449.20, the CAC-40 index fell 0.4% to 6,409.80, and the FTSE 100 index eased 0.05% to 7,409.11.
A.P. Moller-Maersk increased 2.9 to 13.96 euros after the Danish shipping company raised its full-year guidance for underlying operating profits to about $31 billon from the previous estimate of $24 billion.
Assicurazioni Generali SpA fell 1.9% to 14.60 euros despite the largest Italian insurance company said it has met all its target set in its strategic plan for the next two years.
BP Plc gained 3.6% to 406.40 pence after the the British oil exploration company increased its dividend and expanded its stock buyback after the company reported its best quarterly results in 14 years.
Man Group Plc plunged 9.9% to 241.24 pence after the U.K.-based asset management company reported its first decline in assets under management in more than two years.
Asian Markets Ease On China-U.S. Tensions
In Asia, benchmark indexes traded lower after the U.S.-China tensions rose ahead of the U.S. House Speaker Nancy Pelosi's visit later in the day.
The Nikkei 225 index declined 1.4% to 27,594.73, the Hang Seng index dropped 2.4% to 19,689,51, and the Sensex index edged up a fraction to 58,136.36.
- Bridgette Randall
- 02 Aug, 2022
- Frankfurt
European markets traded lower on the worries that the rising tensions between the U.S. and China may spillover in the new round of trade war.
The DAX index declined 0.2% to 13,449.20, the CAC-40 index fell 0.4% to 6,409.80, and the FTSE 100 index eased 0.05% to 7,409.11.
A.P. Moller-Maersk increased 2.9% to 13.96 euros after the Danish shipping company raised its full-year guidance for underlying operating profits to about $31 billon from the previous estimate of $24 billion.
Assicurazioni Generali SpA fell 1.9% to 14.60 euros despite the largest Italian insurance company said it has met all its target set in its strategic plan for the next two years.
BP Plc gained 3.6% to 406.40 pence after the the British oil exploration company increased its dividend and expanded its stock buyback after the company reported its best quarterly results in 14 years.
Man Group Plc plunged 9.9% to 241.24 pence after the U.K.-based asset management company reported its first decline in assets under management in more than two years.
- Barry Adams
- 02 Aug, 2022
- New York City
Stocks rebounded from morning losses after investors digested the latest batch of earnings.
The S&P 500 index increased 1.34 to 4,120.14 and the Nasdaq Composite index rose 0.3% or 36.97 to 12,407.29.
Futures of crude oil rose 96 cents to $94.85 a barrel and natural gas fell 42 cents to $7.86 a unit.
The yield on 10-year U.S. Treasury notes edged up a fraction to 2.706% after tensions between the U.S. and China rose ahead of House Speaker Nancy Pelosi's visit to Taiwan.
Avis Budget Group, Inc fell 7.6% to $167.83 after the car rental company said second quarter revenues rose 37% to $3.2 billion and net income soared 94% to $774 million from a year ago.
Diluted earnings per share rose to $15.94 from $5.90 a year ago.
The U.S. segment revenues rose 30% to $2.6 billion and international revenues surged 71% to $677 million from a year ago.
Average daily rental revenue increased 9% in constant currency to $78.19 and vehicle fleet expanded 32% to 500,653 units from a year ago.
Caterpillar Inc fell 3.4% to $188.25 after the heavy equipment maker reported slightly lower than expected quarterly revenues because of its exit from Russia.
Cowen Inc increased 7.9% to $38.31 after the company agreed to be acquired by Toronto Dominion Bank for $39 a share or $1.3 billion in cash.
Pinterest Inc rose 12.7% to $22.51 after the photo sharing platform said second quarter revenues increased 9% to $665.9 million and swung to a net loss of $43 million from net income of $69 million a year ago.
Pinterest's global active monthly users declined 5% from a year ago to 433 million.
The stock jumped after the activist investor Elliott Management confirmed that it is the largest shareholder in the company.
Royal Caribbean Cruises Ltd gained 4.3% to $37.33 after the company priced its upsized convertible debt offering of $1.0 billion to refinance existing convertible notes.
The company intends to use the proceeds from the sale to repurchase $350 million aggregate principal amount of its 2.875% convertible senior notes due November 15, 2023 and $800 million aggregate principal amount of its 4.25% convertible senior notes due June 15, 2023.
The convertible notes will mature on August 15, 2025 unless earlier converted and the conversion price per $1,000 of notes is 19.9577 shares of common stock, which is equivalent to approximately $50.11 a share, subject to adjustment in certain circumstances.
The initial conversion price represents a conversion premium of approximately 40% over the last reported sale price of common stock on August 1, 2022.
Simon Property Group fell 1.1% to $107.11 after the largest mall operators reported second quarter revenues edged up to $1.27 billion from $1.25 billion a year ago.
Net income in the quarter declined to $569 million or $1.51 a diluted share from $706 million or $1.88 a diluted share a year ago.
The occupancy at the U.S. malls and premium outlets increased to 93.9% at the end of June quarter from 91.8% a year ago.
Base minimum rent per square foot was $54.58 at the end of June.
The company increased its quarterly dividend by 25 cents from a year ago to $1.75 a share payable on September 30, 2022 to shareholders of record on September 9, 2022.
Uber Technologies Inc rose 17.1% to $28.81 after the ride hailing platform said it turned cash flow positive for the first time.
Uber said gross bookings increased 33% from a year ago to $29.1 billion and revenues soared 105% to $8.1 billion and swung to a quarterly loss of $2.6 billion or $1.33 a diluted share driven in part by investment losses of $1.7 billion.
ZoomInfo Technologies Inc soared 10.9% to $41.88 after the business information provider lifted its full-year guidance.
Second quarter revenues increased 54% to $267.1 million and net income declined to $15.9 million or 4 cents a diluted share from $24.5 million or 5 cents a diluted a year ago.
ZoomInfo revised full-year 2022 revenues to between $1.08 billion and $1.09 billion from the previous estimate between $1.06 billion and $1.07 billion.
For the full-year, adjusted operating income estimated is revised higher between $433 million and $437 million from the previous estimate between $418 million and $424 million.
- Barry Adams
- 02 Aug, 2022
- New York City
Stocks rebounded from morning losses after investors digested the latest batch of earnings.
Job openings at the end of June declined 605,000 to 10.7 million or fell 6.6%, the Job Openings and Labor Turnover Survey reported Tuesday.
Retail trade led the decline with 343,000 fewer postings followed by 82,000 in wholesale trade, and 62,000 in local and state government education.
Hires and total separations were little changed at 6.4 million and 5.9 million respectively.
The S&P 500 index increased 1.34 to 4,120.14 and the Nasdaq Composite index rose 0.3% or 36.97 to 12,407.29.
Futures of crude oil rose 96 cents to $94.85 a barrel and natural gas fell 42 cents to $7.86 a unit.
The yield on 10-year U.S. Treasury notes edged up a fraction to 2.706% after tensions between the U.S. and China rose ahead of House Speaker Nancy Pelosi's visit to Taiwan.
Caterpillar fell 3.4% to $188.25 after the heavy equipment maker reported slightly lower than expected quarterly revenues because of its exit from Russia.
Uber Technologies Inc rose 17.1% to $28.81 after the ride hailing platform said it turned cash flow positive for the first time.
Uber said gross bookings increased 33% from a year ago to $29.1 billion and revenues soared 105% to $8.1 billion and swung to a quarterly loss of $2.6 billion or $1.33 a diluted share driven in part by investment losses of $1.7 billion.
Pinterest Inc rose 12.7% to $22.51 after the photo sharing platform said second quarter revenues increased 9% to $665.9 million and swung to a net loss of $43 million from net income of $69 million a year ago.
Pinterest's global active monthly users declined 5% from a year ago to 433 million.
The stock jumped after the activist investor Elliott Management confirmed that it is the largest shareholder in the company.
Cowen Inc increased 7.9% to $38.31 after the company agreed to be acquired by Toronto Dominion Bank for $39 a share or $1.3 billion in cash.
European markets traded lower on the worries that the rising tensions between the U.S. and China may spillover in the new round of trade war.
The DAX index declined 0.2% to 13,442.40, the CAC-40 index fell 0.4% to 6,412.98, and the FTSE 100 index eased 0.07% to 7,408.91.
In Asia, benchmark indexes traded lower after the U.S.-China tensions rose ahead of the U.S. House Speaker Nancy Pelosi's visit later in the day.
The Nikkei 225 index declined 1.4% to 27,594.73, the Hang Seng index dropped 2.4% to 19,689,51, and the Sensex index edged up a fraction to 58,136.36.
- Scott Peters
- 01 Aug, 2022
- New York City
PerkinElmer said it plans to focus on high-margin and high-growth businesses and divest its non-core and low-margin businesses.
The $8 billion revenue company plans to focus on the $35 billion market into infectious diseases and autoimmune markets.
Perkin Elmer agreed to sell its non-core business for $2.45 billion to New Mountain Capital and the deal is expected to close in the first quarter of 2023.
New Mountain agreed to pay $2.3 billion in cash at the time of deal closure and $150 million of which will be payable contingent on the exit valuation New Mountain Capital receives on a sale or other capital events related to the business.
PerkinElmer after the closure of the deal will retain its life science and diagnostics businesses with total revenue of about $3.3 billion in 2022.
PerkinElmer's diagnostics division generates $2.9 billion in revenues autoimmune, allergy, and latent tuberculosis lead the sales followed by reproductive health and applied genomics.
The company plans to focus on building its businesses generating recurring revenues and recurring revenues account for 80% of total revenues and are expected to grow 10% a year.
The analytical, food, and enterprise services businesses are expected to generate approximately $1.3 billion in revenue in 2022 with a low-to-mid teens adjusted EBITDA margin.
These businesses include approximately 6,000 of PerkinElmer
- Barry Adams
- 01 Aug, 2022
- New York City
Stocks lacked direction after rallying for three days and bond yields continued to fall on the economic worries.
Stocks on Wall Street fell at the opening after rallying for three days on the worries that the sentiment may be ahead of market fundamentals and struggled to stay in the positive territory.
Benchmark indexes surged the most in July and logged the best monthly gains in two years on the hopes that the Federal Reserve may slow down the future rate hikes and avoid a recession.
Manufacturing activities rose in July for the 26-month in a row but the pace of growth slowed.
The index for manufacturing activities edged slightly lower to 52.8 from 53.0, according to the data released by the Institute for Supply Management Monday.
Investors are also looking ahead to economic data and earnings reports from about 1,200 companies this week.
July non-farm payrolls are scheduled to be released on Friday and economists are estimating an increase of at 250,000 after the labor market expanded by 372,000 in June.
ZoomInfo Technologies, Aflac, DaVita, ON Semiconductor, Rambus, and Activision Blizzard are scheduled to release earnings after the end of regular market trading hours.
Airbnb, Caterpillar, Cummins, Marriott, Starbucks, S&P Global, Uber are among the 410 companies scheduled to release earnings Tuesday.
The S&P 500 index decreased 0.3% to 4,118,25 and the Nasdaq Composite index fell 0.2% to 12,368.98.
Futures of crude oil declined $5.01 to $93.61 a barrel and natural gas increased 3 cents to $8.26 a unit.
The yield on 10-year Treasury notes continued to drift lower and fell 2.58% on the worries that the economy may slow faster than anticipated and 2-year notes edged lower to 2.892%.
Movers: Oil Companies, Boeing, PerkinElmer, Nio
Oil companies led the decliners after crude oil prices dropped more than 5% in New York and in European trading.
Exxon Mobil Corp and Chevron Corp declined 2.5% and Marathon Oil dropped 4%, Bakers Hughes and Schlumberger declined more than 3%.
Boeing Co increased 6.6% to $169.93 after financial news TV channel CNBC reported the Federal Aviation Administration has approved the inspection framework revisions permitting the plane maker to resume the delivery of its 787 Dreamliner.
Boeing defense units are also scheduled to vote on the new labor contract on Wednesday, hoping to avoid the strike.
PerkinElmer, Inc rose 6.5% to $163.09 after the diagnostics and life science company reported better-than-expected quarterly results and the company sold its non-core assets for $2.45 billion.
Chinese electric vehicles makers reported rising sales in July from a year ago but sales eased from June after Covid-19 lockdowns affected productions and sales.
Nio Inc increased 2.5% to $20.20 after the China-based electric vehicles maker said July deliveries increased 26.7% to 10,052 but fell from nearly 13,000 in June.
Li Auto Inc increased 1.4% to $33.33 after the China-based electric vehicles maker said July sports utilities deliveries rose 21.3% to 10,422 units but fell from June.
Eurozone Manufacturing Shrank In July
In European trading, benchmark indexes advanced and the eurozone manufacturing shrank in July.
S&P Global Purchasing Managers' Index decline was revised to a 25-month low of 49.8 in July from 52.1 in June.
The preliminary estimate showed the July index as 49.6.
Any reading below 50 indicates a contraction, and the manufacturing activities contracted for the first time in over two years.
The DAX index in Frankfurt rose 4.42 to close at 13,479.63, the CAC-40 index in Paris fell 11.64 or 0.2% to 6,436.86, and the FTSE 100 index in London declined 0.1% to or 10.01 to 7,143.42.
India Leads Asian Markets' Advance
Markets in Asia gained and the Sensex index in Mumbai led the gainers in the region after manufacturing activities rose at the fastest pace in eight months in July.
Domestic vehicle sales also continued to rebound in July as the demand for 2-wheeler and passenger and commercial vehicles soared.
The Sensex extended gains for the fourth day and jumped about 0.95%, the Nikkei index gained 0.7%, and the Hang Seng Index jumped 0.04%.
- Barry Adams
- 01 Aug, 2022
- New York City
Boeing Co increased 6.6% to $169.93 after financial news TV channel CNBC reported the Federal Aviation Administration has approved the inspection framework revisions permitting the plane maker to resume the delivery of its 787 Dreamliner.
Boeing defense units are also scheduled to vote on the new labor contract on Wednesday, hoping to avoid the strike.
Check Point Software Technologies fell 4.4% to $118.95 and second quarter revenues increased 9.0% to $571.1 million.
Net income in the quarter fell to $173.6 million or $1.36 a share from $186.0 million or $1.38 a diluted share a year ago.
Security subscriptions revenues increased 14% to $210 million as more corporations face rising cyber and ransomware attacks.
Jacobs Engineering Group Inc declined 5.1% to $130.10 after the company said revenues in the fiscal third quarter ended July 1 increased 7.0% to $3.8 billion.
Net income in the quarter increased to $196 million or $1.52 a diluted share from $165.8 million or 83 cents a diluted share a year ago.
The company expects fiscal fourth quarter adjusted operating earnings between $340 million and $360 million and adjusted earnings per share between $1.75 and $1.85.
The company confirmed that the strong dollar negatively impacted its full-year revenues, operating earnings and earnings per share estimates.
PerkinElmer, Inc rose 6.5% to $163.09 after the diagnostics and life science company reported better-than-expected quarterly results.
Second quarter revenues were flat at $1.23 billion and net income declined to $1179 million from $246 million a year ago. Diluted earnings per share fell to $1.42 from $2.19 a year ago.
Perkin Elmer also agreed to sell its non-core business for $2.45 billion to New Mountain Capital and the deal is expected to close in the first quarter of 2023.
The company also guided its third quarter revenue of approximately $1.02 to 1.03 billion and adjusted earnings per share to be in a range between $1.40 and 1.45.
For the full-year 2022, the company now estimates revenue between $4.60 and 4.64 billion and adjusted earnings per share between $7.80 and 7.90.
Global Payments Inc increased 6.9% to $130.79 said second quarter revenues edged up 6.7% to $2.28 billion from $2.14 billion a year ago.
In the quarter, the company swung to a loss of $673 million or $2.42 a diluted share from a profit of $263.5 million or 89 cents a diluted share a year ago.
The company swung to a loss largely on the account of a pre-tax charge of $833.1 million related to goodwill impairment charges.
Global Payments estimated full-year revenues in constant currencies adjusted revenues before the asset sale to fall between $8.48 billion and $8.55 billion.
The company reinforced its adjusted earnings per share on a constant currency basis outlook to fall between $9.53 and $9.75, reflecting growth of 17% to 20% over 2021.
Nio Inc increased 2.5% to $20.20 after the China-based electric vehicles maker said July deliveries increased 26.7% to 10,052 but fell from nearly 13,000 in June.
Li Auto Inc increased 1.4% to $33.33 after the China-based electric vehicles maker said July sports utilities deliveries rose 21.3% to 10,422 units but fell from June