Flour Corp Tanks 4% As National Nuclear Security Administration Cancels $28 Bln Contract

Alibaba Group Holding Maintains Rally

Alibaba Group Holding Ltd. (BABA) shares are adding more than 8 percent on Tuesday morning continuing the bullish trend since May 12. There were no corporate announcements on the day.

Currently, shares are at $93.18, up 7.75 percent from the previous close of $86.48 on a volume of 10,871,368. For the 52-week period, the shares have traded in a range of $73.28-$230.89 on average volume of 34,572,418.

Cristin Milioti Finds Harmony in Fiona Apple and a Location Change

The “Palm Springs” actor talks about playing the object of adoration in her HBO Max series, “Made for Love,” and a few of the things she obsesses over herself.

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By Kathryn Shattuck

Pine & Polk Opens in SoHo, With a Speakeasy-Style Bar

PS, or Pacific Standard, will serve drinks and light food in the back of the newly opened food shop.

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By Florence Fabricant

Ryanair Holdings Rise 4% On Narrower FY22 Loss, Optimistic FY23 Outlook

Shares of Ryanair Holdings plc (RYAAY) are up 4 percent on Tuesday’s trading after the company posted narrower loss in fiscal 2022 and also said that it expects to return to reasonable profitability in fiscal 2023. Shares of the low fares airline were, however, losing around 4 percent in the morning trading in Germany.

For the full year, loss before tax narrowed to 429.8 million euros from last year’s loss of 1.11 billion euros. Net loss attributable to equity holders of parent was 240.8 million euros, compared to prior year’s loss of 1.02 billion euros. Loss per share was 0.2130 euro, compared to loss of 0.9142 euro last year.

Total operating revenues surged 193 percent to 4.80 billion euros from last year’s 1.64 billion euros. Scheduled revenues increased 156 percent from last year to 2.65 billion euros. Ancillary revenues surged 258 percent to 2.15 billion euros.

Ryanair plans to grow full year traffic to 165 million from 97 million last year and 149 million in the pre-Covid period.

Currently at $84.43, the stock has traded between $74.12 and $127.15 during the past 52 weeks.

Home Depot Shares Rise 3% On Raised FY22 Outlook, Higher Q1 Results

Shares of home improvement retailer Home Depot, Inc. (HD) are rising 3 percent on Tuesday’s trading after the company raised its outlook for fiscal 2022. The stock was up 4.7 percent on Tuesday’s pre-market trading.

The company now expects total sales growth and comparable sales growth of approximately 3 percent, operating margin of approximately 15.4 percent, and earnings per share percent growth to be mid-single digits.

For fiscal 2022, the company previously projected sales growth and comparable sales growth to be slightly positive, operating margin approximately flat and earnings per share growth to be low single digits.

Additionally, the company reported higher profit in its first quarter, which also beat the Street estimates.

The company’s bottom line totaled $4.23 billion, or $4.09 per share. This compares with $4.15 billion, or $3.86 per share, in last year’s first quarter. Analysts on average had expected the company to earn $3.67 per share, according to figures compiled by Thomson Reuters.

Currently at $303.04, the stock has traded between $280.63 and $420.61 during the past 52 weeks.

Westbound lanes of I-70 shut down at I-270 by crash

The westbound lanes of Interstate 70 have been shut down by a crash at Interstate 270, according to Denver police.

The crash involves a semi-truck rollover, police said at 12:03 p.m. on Twitter. Drivers should avoid the area if possible.

This story will be updated.  

Gold Futures Settle Higher For 2nd Straight Day As Dollar Drifts Lower

Gold prices moved higher on Tuesday, gaining for a second straight session as a weakening dollar boosted the yellow metal’s safe-haven appeal.

The dollar index dropped to 103.23, losing nearly 1%.

Gold futures for June ended higher by $4.90 or 0.3% at $1,818.90 an ounce.

Silver futures for July ended up by $0.199 at $21.750 an ounce, while Copper futures for July settled at $4.2390 per pound, up $0.0475 from the previous close.

A report released by the Commerce Department showed retail sales in the U.S. increased by more than expected in the month of April, surging up by 0.9%, after jumping by an upwardly revised 1.4% in March.

Economists had expected retail sales to rise by 0.7% compared to the 0.5% increase originally reported for the previous month.

Excluding a rebound in sales by motor vehicle and parts dealers, retail sales rose by 0.6% in April after surging by 2.1% in March. Ex-auto sales were expected to edge up by 0.3%.

Flour Corp Tanks 4% As National Nuclear Security Administration Cancels $28 Bln Contract

Shares of engineering and construction firm Fluor Corp. (FLR) are down 4 percent on Tuesday’s trading after the National Nuclear Security Administration canceled a proposed 10-year, $28 billion contract for the company’s joint venture with Amentum to manage the agency’s main nuclear weapons production sites.

Commenting on the developments, the NNSA said, “Protests filed after the contract was awarded in November 2021 led them to take voluntary corrective action to assess alleged organizational conflicts of interest and alleged proprieties, and contracts for operating each facility will now be awarded separately.

The company recently turned to profit in the first quarter reporting net income of $48 million or $0.28 per share, compared to net loss of $86 million or $0.61 per share in the same period last year.

Currently at $25.64, the stock has traded between $14.41 and $31.32 during the past 52 weeks.