Allstate Q4 Profit Drops

Joe Biden Says Islamic State Chief Killed In US Military Raid In Syria

President Joe Biden announced that the leader of the dreaded terrorist outfit ISIS has been killed in a U.S. military raid in Syria.

“Thanks to the skill and bravery of our Armed Forces, we have taken off the battlefield Abu Ibrahim al-Hashimi al-Qurayshi—the leader of ISIS,” Biden said in a brief statement Thursday.

He said the ISIS chief was eliminated in a counterterrorism operation conducted by U.S. military forces in the northwest Syria Wednesday night at his direction, “to protect the American people and our Allies, and make the world a safer place.”

All Americans have returned safely from the operation, he added.

Qurayshi committed suicide by detonating a bomb that killed him and members of his family, reports say.

The White Helmets and The Syrian Observatory for Human Rights put the death toll at 13.

The casualties included women and children, they say.

The terrorist leader reportedly offered stiff resistance after the building he was hiding in was pounded by U.S. Special Operations commandos, backed by helicopter gunships, drones and jets in Atmeh, a town close to the border with Turkey in rebel-held Idlib Province.

Abu Ibrahim al-Hashimi al-Qurashi had become the new leader of the Islamic State in October 2019 after his predecessor Abu Bakr al-Baghdadi killed himself by detonating a suicide vest during a US military raid in Syria.

Tetra Tech Q1 Profit Rises

Tetra Tech, Inc. (TTEK), Wednesday reported first-quarter net income of $68.5 million or $1.25 per share, compared to $52.4 million or $0.96 per share last year.

Adjusted earnings for the quarter were $1.19 per share. Analysts polled by Thomson Reuters estimated earnings of $1.03 per share for the quarter.

Revenues for the quarter were $679.33 million, compared to $605.17 million last year. Analysts had a consensus revenue estimate of $663.05 million for the quarter.

Looking forward to the second quarter, Tetra Tech expects earnings of $0.86 to $0.91 and net revenue to range from $620 million to $670 million. Analysts currently estimate earnings of $0.89 per share on revenues of $651.48 million.

For fiscal 2022, Tetra Tech now expects earnings of $4.15 to $4.30 and net revenue to range from $2.65 billion to $2.80 billion. Analysts currently estimate earnings of $4.14 per share and revenues of $2.71 billion.

Previously, the company expected earnings of $4.00 to $4.20 per share and revenue to range from $2.60 billion to $2.80 billion.

DeWALT Recalls 18-inch Corded Chain Saws

Towson, Maryland-based DeWALT Industrial Tool Co. is recalling about 8,500 units of corded chain saws citing injury risks, the U.S. Consumer Product Safety Commission said.

The recall involves DEWALT DWCS600, Type 1 18-inch 15-amp corded chain saws. They are yellow with a black handle and motor cover. The recall includes chain saws with date codes 2021 23-H5 to 2021 40-H5 only.

The chain saws were manufactured in Mexico and sold at hardware and tool supply stores nationwide from June 2021 through November 2021 for between $130 and $150.

According to the agency, the affected chain saw can remain running when the switch is on the off position or turn on when plugged in, posing an injury hazard to the user.

However, the company has not received any reports of injuries related to the recalled product to date.

Consumers are urged to immediately stop using the recalled chain saws and contact DEWALT for a free replacement chain saw.

GoPro Q4 Profit, Revenues Beat Street View; Shares Up 5%

Shares of GoPro, Inc. (GPRO) gained over 5% in the extended trading session on Thursday after the company’s fourth-quarter profit and revenues trumped Wall Street estimates.

GoPro’s fourth-quarter profit rose to $53 million or $0.32 per share from $44 million or $0.28 per share last year. On an adjusted basis, profit rose to $66 million or $0.41 per share from $61 million or $0.39 per share last year.

Revenues for the fourth quarter rose 9% to $391 million from $358 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.35 per share and revenues of $382.63 million. Analysts’ estimates typically exclude one-time items.

GoPro.com revenue, including subscription revenue, increased 10% year-over-year to $128 million, or 33% of total revenue. GoPro and Quik subscription revenues totaled $16.8 million, up 118% year-over-year.

Further, GoPro’s board of directors authorized the company to repurchase up to $100 million of its Class A common stock.

GPRO closed Thursday’s trading at $8.44, down $0.62 or 6.84%, on the Nasdaq. The stock, however, gained $0.45 or 5.33%, in the after-hours trading.

Illinois Tool Works Inc Reports Decline In Q4 Bottom Line, but beats estimates

Illinois Tool Works Inc (ITW) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company’s earnings came in at $609 million, or $1.93 per share. This compares with $642 million, or $2.02 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $1.90 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.7% to $3.68 billion from $3.48 billion last year.

Illinois Tool Works Inc earnings at a glance (GAAP) :

-Earnings (Q4): $609 Mln. vs. $642 Mln. last year.
-EPS (Q4): $1.93 vs. $2.02 last year.
-Analyst Estimates: $1.90
-Revenue (Q4): $3.68 Bln vs. $3.48 Bln last year.

Allstate Q4 Profit Drops

Allstate Corp. (ALL) reported that its fourth quarter net income applicable to common shareholders dropped to $790 million or $2.73 per share from the prior year’s $2.60 billion or $8.45 per share, primarily driven by lower underwriting income, partially offset by higher net investment income.

Adjusted net income of $796 million, or $2.75 per share, was below the $1.6 billion generated in the prior year quarter. The decrease reflects higher non-catastrophe losses, unfavorable non-catastrophe reserve reestimates and increased catastrophe losses, partially offset by higher earned premiums.

Total revenues were $13.0 billion, an increase of 18.7% from the prior year quarter, reflecting higher revenues from the National General acquisition and increased net investment income. Protection Services revenues also increased, reflecting growth at Allstate Protection Plans.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.75 per share and revenues of $10 billion for the quarter. Analysts’ estimates typically exclude special items.