Knorr-Bremse Boosts Stake In Rail Vision To 36.8% – Quick Facts
Knorr-Bremse AG (KNRRY.PK), a provider of braking systems, announced Monday that it has acquired an additional 19.8 percent of Israeli start-up Rail Vision for $10 million, giving it a 36.8 percent stake in the company’s share capital.
Rail Vision specializes in sensor technology and obstacle detection based on artificial intelligence and deep learning. Knorr-Bremse and Rail Vision have been partners in the development of object and obstacle detection systems for rail vehicles since March 2019, when it acquired an initial stake.
The strategic follow-on investment forms basis for continued partnership in the development and integration of electro-optic sensor systems including object detection and classification for rail vehicles.
Recently, Knorr-Bremse and Rail Vision announced that they will equip shunting locomotives of the Swiss rail operator SBB Cargo with remote-controlled electro-optic systems for obstacle detection.
After prototype testing is successfully completed at the end of the first quarter of 2021, the partners will examine further business opportunities for integrating these systems into rail freight vehicles.
Bank Of Hawaii Q3 Profit Tops Estimates – Quick Facts
Bank of Hawaii Corp. (BOH) reported third quarter earnings per share of $0.95 compared to $1.29, last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.84, for the quarter. Analysts’ estimates typically exclude special items.
Third quarter net interest income, on a taxable equivalent basis, was $124.5 million, a decrease of $0.7 million compared with $125.2 million, previous year. Noninterest income was $41.7 million, a decrease of $4.8 million compared with $46.5 million, last year. Analysts expected revenue of $162.5 million, for the quarter.
The company’s Board declared a quarterly cash dividend of $0.67 per share. The dividend will be payable on December 14, 2020 to shareholders of record at the close of business on November 30, 2020.
Baby Yoda returns in 'The Mandalorian' season 2 trailer
New York (CNN Business)Families stuck at home have resorted to playing games again, and that’s benefiting Hasbro.
The maker of Monopoly and Magic: The Gathering reported a 21% jump in gaming sales as the result of homebound people looking for ways to occupy their time. Branded “Star Wars” and “The Mandalorian” toys also “delivered strong revenue growth,” according to Hasbro’s earnings release.
Overall, Hasbro’s revenue fell 4% because of TV and film production delays. The company painted a brighter picture compared to July, when temporary factory shutdowns hurt sales.
“Building off this quarter’s growth in toys, games and digital we are positioned to deliver a good holiday season,” said CEO Brian Goldner. “Live-action entertainment production is returning, and we are set to improve deliveries in the fourth quarter with some moving into 2021.”
Hasbro (HAS) shares jumped 3% in premarket trading before slightly retreating.
Hasbro’s earnings shadow that of rival’s Mattel (MAT), which reported earnings Friday. The maker of Barbie said sales jumped 28% and Hot Wheels sales rose 6% in the third quarter. Mattel’s stock closed 13% higher Friday.
“The toy industry, as a whole, grew significantly and continues to demonstrate its resilience in challenging economic times,” surmised Mattel CEO Ynon Kreiz in its earnings release.
Hasbro Q3 Results Top Estimates – Quick Facts
Toy and board game company Hasbro, Inc. (HAS) reported Monday net earnings attributable to Hasbro for the third quarter of $220.90 million or $1.61 per share, compared to pro forma net earnings of $216.5 million or $1.57 per share in the year-ago period.
Excluding items, adjusted earnings for the quarter were $1.88 per share. On average, 14 analysts polled by Thomson Reuters expected earnings of $1.62 per share for the quarter. Analysts’ estimates typically exclude special items.
Net revenues for the quarter decreased 4 percent to $1.78 billion from $1.86 billion, on a pro forma basis, in the year-ago period, hampered by the combination of the results of Hasbro and Entertainment One Ltd. (eOne) for periods prior to Hasbro’s acquisition of eOne in the first quarter of 2020. Analysts expected revenues of $1.73 billion for the quarter.
Henry Schein, TDSC Form Online Only Entity For Dental Purchases – Quick Facts
Henry Schein, Inc. (HSIC) and The Dentists Supply Company (TDSC) announced Monday the completion of the agreement to form a new entity to better serve state dental association members with an online-only option for purchasing dental supplies. Financial terms were not disclosed.
TDSC.com, Powered by Henry Schein, is now live and will continue to offer everyday low pricing for dental practices that prefer an online ordering experience. The agreement was announced on October 14, 2020.
Henry Schein is now the majority owner of the new entity, with the California Dental Association (CDA) retaining an interest in the newly formed operating company, called TDSC, Inc. TDSC is expected to be neutral to Henry Schein’s 2020 earnings per diluted share and accretive thereafter.
Launched in 2017 by CDA, TDSC serves members of all 50 state dental associations with an everyday low-price, online-only option for purchasing dental supplies. Any member of a state dental association is eligible to purchase on TDSC.com, Powered by Henry Schein.
BREIT To Acquire Simply Self Storage From Brookfield Fund For Approx. $1.2 Bln
Blackstone Real Estate Income Trust, Inc. has entered into a definitive agreement to acquire Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2 billion. The deal is anticipated to close prior to the end of 2020.
Simply Self Storage is one of the top five private owners of self-storage and operates a portfolio totaling eight million square feet across the U.S. BREIT noted that, following the acquisition, the company will be the third largest non-listed owner of storage in the U.S.