Nike Inc Q2 Profit beats estimates

Elon Musk Searching For New Twitter CEO: CNBC

Social media giant Twitter Inc.’s new owner and CEO Elon Musk is reportedly searching or a new chief executive for the company.

According to CNBC’s David Faber, Musk is actively searching for a new CEO to run the company.

On Sunday, Musk initiated an informal poll, asking his nearly 122 million followers whether he should step down as head of Twitter. He also said then that he would abide by the results of the poll.

Among the 17.5 million votes in a Twitter poll, a total of 57.5 percent voted “Yes”, while 42.5 percent said “No.”

Musk also Tweeted then, “Going forward, there will be a vote for major policy changes. My apologies. Won’t happen again…As the saying goes, be careful what you wish, as you might get it.”

Musk, who acquired the company for $44 billion in October, has previously said his position as CEO would be temporary. In court in November, Musk said, “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”

The poll and its result comes at a time when Twitter is going through troubled waters with Musk’s various actions since acquisition, including dismissal of key executives, policy changes and ongoing banning of unfavorable accounts.

CNBC further reported that Musk’s search for a new CEO has been ongoing and began before the Twitter poll was made.

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Competition regulator blocks Telstra, TPG network sharing deal

The competition regulator has blocked a landmark infrastructure deal between telco giants Telstra and TPG Telecom, warning it would lessen competition and leave Australian mobile users worse off.

Australian Competition and Consumer Commissioner Liza Carver said while there were “some benefits”, the deal would ultimately hurt consumers.

The deal between Telstra and TPG Telecom was strongly disputed by Optus.Credit:Pat Scala, Rob Homer

“Mobile networks are of critical importance to many aspects of our lives, including our livelihood, our wellbeing and our ability to keep in touch with friends and family,” Carver said. “Any reduction in competition will have very wide-ranging impacts on customers, including higher prices and reduced quality and coverage.”

More to come

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Denver police investigating the killing of man found under I-70 ramp

Denver police are investigating a man’s killing after he was found outside Tuesday morning under a highway ramp.

Police initially said they were looking into the outdoor death at Interstate 70 and Washington Street and later determined it was a homicide, Denver police announced on Twitter. A call came in about the death shortly after 9:45 a.m., spokesperson Sean Towle said.

The Denver Office of the Medical Examiner is expected to provide the victim’s identification and cause of death.

Anyone with information about the homicide is asked to call 720-913-7867.

Pebblebrook Hotel Trust Revised Q4, FY22 Outlook

Pebblebrook Hotel Trust (PEB) revised its fourth-quarter and full year 2022 outlook.

For the fourth quarter, the company expects adjusted FFO per share of $0.13 to $0.16, and net loss of $39.9 million to $35.9 million. Previously, the company expected adjusted FFO per share of $0.18 to $0.24 and net loss of $32.2 million to $24.2 million.

For the full year 2022, the company expects adjusted FFO per share of $1.61 to $1.64 and net loss of $85.1 million to $81.1 million. Previously, the company expected adjusted FFO per share of $1.66 to $1.72 and net loss of $77.4 million to $69.4 million.

The company said that November’s Same-Property operating results significantly exceeded last year’s performance, but they were still below the previously provided outlook due to a negative impact from Hurricane Nicole and weaker business and leisure demand during the second half of the month, which may relate to new seasonal patterns around holidays due to hybrid work.

PEB closed Tuesday’s trading at $14.43, down $0.19 or 1.30%, on the NYSE. The stock further slipped $1.21 or 8.39% in the after-hours trading.

Oregon Bans Sale Of Gas Powered Cars After 2035

A vote passed by policymakers in Oregon on Monday will make the sale of new gas-powered passenger vehicles a thing of the past by the year 2035.

The decision was made during a special meeting of the Oregon Environmental Quality Commission on Monday afternoon.

Referred to as the “Advanced Clean Cars II Rules,” the changes will not only stop new sales of gas-powered passenger cars but also update the Low Emission Vehicle Program rules to be identical to California’s current light-duty vehicle emission standards.

The new rules will allow for continued sales of hybrid vehicles, running primarily on electricity but also gas. The ban doesn’t apply to those gas cars, which are at present on the road or purchased before the ban goes into effect.

Nike Inc Q2 Profit beats estimates

Nike Inc (NKE) announced a profit for second quarter that beat the Street estimates.

The company’s earnings came in at $1.33 billion, or $0.85 per share. This compares with $1.34 billion, or $0.83 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 17.3% to $13.32 billion from $11.36 billion last year.

Nike Inc earnings at a glance (GAAP) :

-Earnings (Q2): $1.33 Bln. vs. $1.34 Bln. last year.
-EPS (Q2): $0.85 vs. $0.83 last year.
-Analyst Estimates: $0.65
-Revenue (Q2): $13.32 Bln vs. $11.36 Bln last year.