Choice Hotels International Q3 Adj. Profit Misses View, But Revenue Beats

Johnny Depp Axed By Warner Bros From ‘Fantastic Beasts’ Franchise After ‘Wife Beater’ Verdict In UK

Following a stinging loss in the UK courts over allegations of being a “wife beater,” Johnny Depp has been cut loose by Warner Bros from their Fantastic Beasts franchise

“Johnny Depp will depart the Fantastic Beasts franchise,” said the studio in a statement today “We thank Johnny for his work on the films to date. Fantastic Beasts 3 is currently in production, and the role of Gellert Grindelwald will be recast. The film will debut in theaters worldwide in the summer of 2022.”

Depp himself first made the news public online earlier on Friday

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NTT H1 Net Profit Edges Down, Operating Profit Up; Sees Higher Earnings, Weak Revenues In FY

Japan’s Nippon Telegraph And Telephone Corp. (NTT) reported Friday that its first-half profit attributable to the company edged down 1.1 percent to 541.51 billion yen from 547.67 billion yen last year. Earnings per basic share edged up to 145.86 yen from 145.53 yen last year.

Pre-tax profit edged up 0.3 percent from the prior year to 1.005 trillion yen and operating profit grew 2.6 percent to 1.009 trillion yen.

Operating revenues were 5.71 trillion yen, down 0.3 percent from 5.89 trillion yen last year.

Looking ahead, for fiscal year ending March 31, 2021, the company expects attributable net profit of 860 billion yen or 232.40 yen per basic share, a growth of 0.5 percent from last year. Operating profit would be 1.59 trillion yen, up 1.8 percent, and operating revenues would be 11.50 trillion yen, down 3.4 percent year-over-year.

Separately, NTT announced repurchases of up to 120 million shares of common stock at aggregate repurchase amount of up to 250 billion yen.

The company will buy back shares between November 11 and March 31, 2021.

TikTok Exec Gisselle Ruiz Joins WME As Head of Inclusion

WME has named former TikTok exec Gisselle Ruiz as Head of Inclusion for the agency.

Prior to stepping into the new role at WME, she was a global talent acquisition leader and spearheaded diversity and inclusion initiatives. A seasoned diversity, equity and inclusion professional with previous experience driving strategy and impact efforts at CAA, Google, Disney in addition to non-profits like the Broad Center, Ruiz will be instrumental to the agency’s commitment to be an anti-racist and ally-oriented company.

Ruiz will be based in Beverly Hills and her position is effective immediately. She will be working across WME guiding and bolstering efforts in recruitment, retention and strategic partnerships to achieve the agency’s diversity, equity, and inclusion goals.

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Rheinmetall Q3 Profit Down – Quick Facts

German defense contractor Rheinmetall AG (RNMBF.PK) reported that its third-quarter earnings attributable to shareholders decreased to 44 million euros or 1.03 euros per share from 57 million euros or 1.33 euros per share in the previous year.

Sales for the third-quarter declined to 1.38 billion euros from 1.48 billion euros in the prior year.

The company still does not expect the coronavirus crisis to have any lasting impact on the Defense sector’s business performance in 2020. Projected sales growth for the Defense sector, adjusted for currency effects, is around 6%. It expects operating margin to be between 10% and 11%, compared to prior outlook of about 10%.

For the Group, Rheinmetall expects a decline in sales, adjusted for currency effects, between 6% and 7% and – taking into account holding costs – a positive operating margin between 6% and 6.5%.

The Unforeseen Threats to the 2020 Election: Hand Sanitizer and Bad Plumbing

In a year when armed groups or interference by foreign governments were considered a threat at the polls, some holdups were the result of everyday municipal malfunctions.

By Nicholas Bogel-Burroughs

Infinera Q3 GAAP Net Loss Narrows; Revenue Beats View

Infinera Corp (INFN) reported that its third quarter GAAP net loss narrowed to $35.9 million, or $0.19 per share from $84.8 million or $0.47 in the last year.

Non-GAAP net income for the quarter was $4.2 million or $0.02 per share, compared to a net loss of $30.5 million or $0.17 per share in the same period last year.

Quarterly GAAP revenue rose to $340.2 million from $325.3 million a year ago. Non-GAAP revenue was $341.2 million, higher than $327.6 million a year earlier.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share and revenues of $335.91 million for the quarter. Analysts’ estimates typically exclude special items.

Looking forward to the fourth quarter, the company expects adjusted revenues of $355 million, plus or minus $15 million. Analysts currently expect revenues of $357.51 million.

INFN closed Thursday’s trading at $7.15, up $0.62 or 9.49%, on the Nasdaq. The stock dropped $0.15 or 2.10% in the after-hours trade.

Choice Hotels International Q3 Adj. Profit Misses View, But Revenue Beats

Choice Hotels International, Inc. (CHH) on Thursday reported net income for the third quarter of $14.50 million or $0.26 per share, down sharply from $76.24 million or $1.37 per share in the year-ago period.

Adjusted earnings were $0.66 per share, compared to $1.37 per share last year.

Total revenues for the quarter declined 32 percent to $210.77 million from $310.73 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share for the quarter on revenues of $207.72 million. Analysts’ estimates typically exclude special items.

Total revenues for the quarter, excluding marketing and reservation system fees, declined 33 percent from last year to $103.6 million. Domestic system-wide revenue per available room or RevPAR decreased 28.8 percent compared to the year-ago period.

Choice Hotels said it is not providing formal guidance for fiscal 2020 at this time as the impact of COVID-19 on the full year is still unknown.