Dolby Labs Q1 Profit Tops View; Sees Q2 Results In Line With View

Principal Financial Q4 Profit Rises

Principal Financial Group (PFG) reported that its net income attributable to the company for fourth quarter 2020 rose to $472.6 million or $1.70 per share from $300.9 million or $1.07 per share last year.

Non-GAAP operating earnings for fourth quarter was $409.6 million or $1.48 per share, compared to $396.4 million or $1.41 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.42 per share for the quarter. Analysts’ estimates typically exclude special items.

The company declared first quarter 2021 common stock dividend of $0.56 per share. The dividend will be payable on Mar. 26, 2021, to shareholders of record as of March 1, 2021.

Live like Karlie Kloss and Josh Kushner in this $5M Nolita apartment

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A fifth-floor unit at 211 Elizabeth St., in a star-studded building is on the market for $5 million.

Now is your chance to live like celebrities including model Karlie Kloss and Josh Kushner, Gabriel Byrne, Elie Tahari and Alexa Ray Joel, who have all called the building home.

The seller is Mark Owen, managing director of a UK-based design firm, Inca Creative, who bought the unit in 2010 for $3.68 million.

Owen fell in love with the apartment’s design, masterminded by Roman and Williams, Gwyneth Paltrow’s former designers.

Nevertheless, Owen never moved in and the unit is as good as new, notes the listing — from brokers Chester Yow and Shawn Elliott, of Nest Seekers International.

The two-bedroom, two-bathroom unit is 1,610 square feet and features Roman and Williams furniture, Danish wood, walnut floors, a woodburning fireplace with an oversized mangle, French doors that lead to the dining room and an open chef’s kitchen.

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Robinhood CEO Says Trading Limits Will Protect Firm, Customers

Robinhood Markets Chief Executive Officer Vlad Tenev said the firm drew down its credit line and restricted client buying of certain stocks to protect its financial position.

“Look, it is not negotiable for us to comply with our financial requirements and our clearinghouse deposits,” Tenev said Thursday on Bloomberg Television. “We have to do that.”

Robinhood drew down byseveral hundred million dollars some of its credit lines with banks, Bloomberg reported earlier, citing people with knowledge of the matter. The firm’s trading app is popular with investors who were behind this month’s wild stock swings in shares of companies including GameStop Corp. and AMC Entertainment Holdings Inc. Robinhood was also among those that responded by clamping down on client purchases of certain stocks on Thursday.

The trading restrictions drew a rebuke from Democratic Representative Alexandria Ocasio-Cortez, who suggested closer scrutiny from U.S. regulators and Congress. A prominent Senate Republican, Ted Cruz, agreed. Tenev acknowledged the bipartisan accord.

“We are glad both sides of the aisle are coming together here, obviously under difficult circumstances,” he said.

China aims to develop 15 electronics firms with revenues over 10 billion yuan by 2023

SHANGHAI (Reuters) – China’s Ministry of Industry and Information Technology said on Friday it aims to develop 15 electronic component producers with revenues in excess of 10 billion yuan ($1.6 billion) by 2023.

CU Buffs athletics projecting nearly $20 million deficit – The Denver Post

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Dolby Labs Q1 Profit Tops View; Sees Q2 Results In Line With View

Dolby Laboratories Inc. (DLB) reported that its first quarter net income rose to $135.2 million or $1.30 per share, from $48.8 million or $0.47 per share in the first quarter of fiscal 2020. The latest-quarter results included a pre-tax gain of $13.9 million related to the sale of property previously classified as held for sale.

On a non-GAAP basis, first quarter net income was $153.3 million or $1.48 per share, compared to $65.5 million or $0.64 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.04 per share for the first-quarter. Analysts’ estimates typically exclude special items.

Total revenue for the grew to $389.9 million, from $291.9 million in the previous year. Analysts expected revenue of $345.33 million for the quarter.

Dolby announced a cash dividend of $0.22 per share of Class A and Class B common stock, payable on February 19, 2021, to stockholders of record as of the close of business on February 9, 2021.

For its second quarter of fiscal 2021, the company expects earnings per share to be in the range of $0.36 – $0.51, non-GAAP earnings per share of $0.57 – $0.72 and total revenue of $280 million – $310 million. Analysts expect the company to report earnings of $0.62 per share and revenues of $290.1 million for the second-quarter.