PerkinElmer Q2 adjusted earnings Beat Estimates
PerkinElmer (PKI) released a profit for its second quarter that increased from last year.
The company’s earnings came in at $137.16 million, or $1.23 per share. This compares with $69.09 million, or $0.62 per share, in last year’s second quarter.
Analysts had expected the company to earn $0.88 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 12.3% to $811.72 million from $722.52 million last year.
PerkinElmer earnings at a glance:
-EPS (Q2): $1.57 vs. $1.00 last year.
-Analysts Estimate: $0.88
-Revenue (Q2): $811.72 Mln vs. $722.52 Mln last year.
Next quarter EPS guidance: $1.18 – $1.53
Next quarter revenue guidance: $760 – $860 Mln
R.R. Donnelley & Sons Company Q2 adjusted earnings Beat Estimates
Below are the earnings highlights for R.R. Donnelley & Sons Company (RRD):
-Earnings: -$57.2 million in Q2 vs. -$7.0 million in the same period last year.
-EPS: -$0.79 in Q2 vs. -$0.10 in the same period last year.
-Excluding items, R.R. Donnelley & Sons Company reported adjusted earnings of -$6.4 million or -$0.09 per share for the period.
-Analysts projected -$0.16 per share
-Revenue: $1.61 billion in Q2 vs. $1.51 billion in the same period last year.
What are West Texas Intermediate crude oil's price records?
What do negative oil prices mean?
The Price Futures Group senior strategist Phil Flynn argues the world could pay the price for the oil crash for ‘many years down the road.’
West Texas Intermediate crude has touched all-time highs and lows in the past 12 years.
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A light, sweet crude oil that is traded and delivered at Cushing, Oklahoma, a key U.S. hub, it's typically produced in the Permian Basin, located in western Texas and southeastern New Mexico, but can come from other locations.
The price of a WTI barrel is determined by supply and demand factors that are considered by traders at the New York Mercantile Exchange, which is owned by CME Group.
WTI prices surged to a record high of $145.29 a barrel, on July 3, 2008, as stagnating oil production was met with increasing demand, especially from emerging economies. Speculators and a weakening U.S. dollar have also been blamed for catapulting prices higher.
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Fast forward to April 2020 and WTI crude oil plunged to a record low of -$37.63 a barrel on April 20 as stay-at-home orders designed to slow the spread of the COVID-19 pandemic reduced global demand by about 30 million barrels per day at the same time Russia and Saudi Arabia, two of the world’s largest producers, were engaged in a price war.
C.H. Robinson Worldwide Inc. Q2 Profit Falls
C.H. Robinson Worldwide Inc. (CHRW) released earnings for second quarter that declined from last year.
The company’s earnings totaled $143.94 million, or $1.06 per share. This compares with $169.18 million, or $1.22 per share, in last year’s second quarter.
Analysts had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 11.6% to $614.45 million from $695.22 million last year.
C.H. Robinson Worldwide Inc. earnings at a glance:
-Earnings (Q2): $143.94 Mln. vs. $169.18 Mln. last year.
-EPS (Q2): $1.06 vs. $1.22 last year.
-Analysts Estimate: $0.60
-Revenue (Q2): $614.45 Mln vs. $695.22 Mln last year.
MacKenzie Scott Donates $1.7 Billion to Charity Within Months
MacKenzie Bezos, who’s now using the surname of Scott, outlined her philanthropy in a blog post Tuesday, while announcing that she’s donated about $1.7 billion to causes related to racial equity, climate change and public health.
“Like many, I watched the first half of 2020 with a mixture of heartbreak and horror,” she wrote in a post on Medium, under the name MacKenzie Scott, which she said is her new name. “People troubled by recent events can make new connections between privileges they’ve enjoyed and benefits they’ve taken for granted. From there, many will choose to share some of what they have with people whose equal participation is essential to the construction of a better world.”
The former wife of Amazon.com Inc. founder Jeff Bezos signed the Giving Pledge in a commitment to donate the majority of her fortune in her lifetime, not long after she received a 4% Amazon stake as part of her divorce with the world’s richest man. At the time of the divorce, her stake was worth about $36 billion. Her fortune has grown to $60.4 billion with a rally in Amazon shares this year as the pandemic makes consumers more reliant on online shopping, making her the 13th richest person in the world. She’s the second-wealthiest woman.
Moderna Protects 16 Monkeys From Virus; 30,000 Humans Await
Moderna Inc.’s vaccine candidate against Covid-19 protected against the virus in a trial that inoculated 16 monkeys, an encouraging step on the path to a defense for humans against the pandemic.
Two injections of the vaccine protected against heavy exposure to the virus at two different levels of dosage, Modernasaid in findings published Tuesday in the New England Journal of Medicine. The primates didn’t show any sign of creating enhanced disease, a problem that has occasionally been associated with vaccines.
While the data is encouraging, a far biggertest is under way for Moderna, involving 30,000 humans. The phase 3 trial to determine the safety and efficacy of the vaccine will begin producing data in November or December. The vaccine uses messenger RNA, a synthetic form of genetic material from the virus designed to nudge the body’s immune system into attack mode. The U.S. government is providing $955 million to help fund the vaccine’s development.
Moderna shares rose 1.7% to $81.24 at 3:50 p.m. in New York.