Advance Auto Parts Boosts FY21 Outlook – Quick Facts
While reporting financial results for the first quarter on Wednesday, automotive aftermarket parts provider Advance Auto Parts Inc. (AAP) raised its net sales and comparable store sales growth guidance for the full year 2021, reflecting continued top-line momentum.
For fiscal 2021, the company now projects net sales in a range of $10.40 billion to $10.60 billion, and comparable store sales increase in a range of 4 to 6 percent.
Previously, the company expected net sales in the range of $10.20 billion to $10.40 billion, and comparable store sales increase in the range of 2 to 4 percent.
On average, 22 analysts polled by Thomson Reuters expect the company to report sales of $10.46 billion for the year.
Amazon To Buy Movie Studio MGM For $8.45 Bln
Amazon (AMZN) agreed to buy MGM, the studio behind James Bond and Rocky, for $8.45 billion.
The deal marks Amazon’s second-largest acquisition in its history, behind its $13.7 billion acquisition of Whole Foods in 2017.
The MGM deal comes amid a new round of consolidation in media. AT&T Last week announced a plan to separate its WarnerMedia operations and combine them with Discovery.
MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming.
Amazon said it will help preserve MGM’s heritage and catalog of films, and provide customers with greater access to the existing works.
MGM has a vast catalog with more than 4,000 films, including 12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons. The Catalog also includes 17,000 TV shows, including thousands of fan favorites like The Handmaid’s Tale, Fargo, and Vikings.
Collectively, MGM has won more than 180 Academy Awards and 100 Emmys.
‘Delusional’ Trump Mocked On Twitter Over Unhinged New Conspiracy Theory
Donald Trump is reportedly telling those close to him that he expects to be reinstated as president over the summer despite losing the 2020 election.
According to New York Times reporter Maggie Haberman, Trump has been parroting a recent conspiracy theory that’s been popular among his QAnon followers:
One-time Trump adviser Sidney Powell made similar comments over the weekend, CNN reported. However, Powell ― who is being sued for $1.3 billion for her role in disseminating false claims about the 2020 election ― argued in court documents earlier this year that “no reasonable person” would believe her statements were factual.
In any case, there is no legal mechanism to “reinstate” a former president other than winning an election, which Trump did not do.
Michael Flynn, who briefly served as Trump’s national security adviser, recently suggested a coup, although he later denied making the comments that were captured on video, and said he was the victim of “media manipulation.”
Trump’s critics called him out over this wild new claim and all that it implies:
Donaldson Q3 Results Climb; Lifts FY21 Earnings View Above Market – Quick Facts
Donaldson Company, Inc. (DCI), a provider of technology-led filtration products and solutions, reported Wednesday that its third-quarter net earnings climbed 33.1 percent to $84.4 million from last year’s $63.4 million. Earnings per share increased 32 percent to $0.66 from $0.50 in 2020.
Third-quarter net sales increased 21.5 percent to $765.0 million from $629.7 million in 2020. Sales increased 17.1 percent at constant currency rates.
On average, analysts polled by Thomson Reuters expected earnings of $0.58 per share on sales of $707.59 million. Analysts’ estimates typically exclude special items.
Looking ahead for fiscal 2021, Donaldson lifted its guidance citing strong third-quarter results, current backlog levels, and incoming order rates.
The company now expects earnings per share between $2.20 and $2.26, higher than last year’s $2.00, and adjusted earnings per share between $2.28 and $2.34. Donaldson previously expected fiscal 2021 adjusted earnings per share between $2.17 and $2.25.
Analysts expect earnings of $2.21 per share for the year.
Further, full-year sales are now expected to increase between 9 percent and 11 percent versus fiscal 2020, compared with prior guidance of between 5 percent and 8 percent.
Donaldson expects fiscal 2021 adjusted operating margin between 13.8 percent and 14.2 percent,3 compared with 13.2 percent in fiscal 2020.
In pre-market activity on NYSE, Donaldson shares were gaining around 4.2 percent to trade at $65.02.
A cargo ship carrying chemicals that has burned for 13 straight days off Sri Lanka is now sinking, and could create a devastating oil spill
- A cargo ship that had been burning off the coast of Sri Lanka is now sinking, the government said.
- It could now cause a huge oil spill.
- It has already created a huge environmental disaster, spilling chemicals and microplastics.
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A cargo ship that has been burning off the coast of Sri Lanka for almost two weeks is now sinking and could cause a huge oil spill, officials warned.
The Singapore-flagged MV X-Press Pearl, which started burning on May 20, has already spilled chemicals and microplastics, killing sea life.
Experts have already warned that it could be the country’s worst-ever environmental disaster.
Now Sri Lanka’s government and navy say the ship is sinking, Reuters reported.
Sri Lanka’s Marine Environment Protection Authority said the ship could now create an oil spill, harming a 19-mile stretch of coastline, CNN reported.
The country’s fishing minister said “emergency measures” were being taken to try and protect the Negombo Lagoon, according to CNN.