The Cooper Companies, Inc. Q2 adjusted earnings Miss Estimates
The Cooper Companies, Inc. (COO) announced a profit for second quarter that dropped from last year.
The company’s earnings came in at $11.5 million, or $0.23 per share. This compares with $122.4 million, or $2.45 per share, in last year’s second quarter.
Analysts had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 19.8% to $524.9 million from $654.3 million last year.
The Cooper Companies, Inc. earnings at a glance:
-EPS (Q2): $1.51 vs. $2.94 last year.
-Analysts Estimate: $2.29
-Revenue (Q2): $524.9 Mln vs. $654.3 Mln last year.
What is a dead cat bounce?
Making money on a “dead cat bounce”
Todd Horwitz of the Adam Mesh Trading Group discusses the market rebound.
A dead cat bounce is a short-term recovery in an asset's price that follows a protracted decline.
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Long-term slides are often interrupted by temporary rallies as traders who have bet on a decline and think the worst is over cover their positions, causing the price to rise.
In a dead cat bounce, the downward trend will resume because there's no sustained buying interest; the traders who cashed out earlier then make new bets the price will fall further.
Such price action is considered an opportunity for traders who have the wherewithal to identify the short-term behavior. A dead cat bounce can only be identified after the fact.
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The term itself dates to a Wall Street analyst's observation in the mid-80s that a dead cat might bounce if dropped from a sufficiently high building, but that wouldn't mean the feline had come back to life.
Oil Futures Settle Slightly Higher
Crude oil prices edged higher on Thursday after data showed leading oil producers were in compliance with agreed production cuts.
However, oil’s rise was not substantially pronounced as traders appeared a bit uncertain about the future course of action by the members of the Organization of the Petroleum Exporting Countries and their allies.
The OPEC+ is expected to take a call on extending current output reductions, and there is an element of uncertainty as a few top producers are a bit reluctant to continue with sharper cuts for a longer duration.
West Texas Intermediate Crude oil futures for July ended up $0.12 or about 0.3% at $37.41 a barrel.
Brent Crude futures were up marginally at $39.85 a barrel.
Traders are eagerly awaiting the next meeting of the OPEC+. According to reports, Saudi Arabia, Kuwait and United Arab Emirates are against extending voluntary additional output cuts of 1.18 million barrels per day after June. This suggests there could be a scenario where supply will see a notable increase in July.
According to analysts, a possible resurgence of U.S. shale production appears to be making Russia a bit reluctant to agree for a longer extension of output reductions.
Trump Signals Roger Stone Pardon: 'He Can Sleep Well at Night!'
With Roger Stone’s report to prison date arriving soon, President Trump took to Twitter on Thursday and strongly suggested he’d pardon his longtime advisor.
In response to a tweet from right-wing activist Charlie Kirk that decried Stone’s sentence as an injustice, Trump wrote, “No. Roger was a victim of a corrupt and illegal Witch Hunt, one which will go down as the greatest political crime in history. He can sleep well at night!”
Stone was sentenced to 40 months in prison in February for lying to Congress under oath, threatening a witness and obstruction of justice in connection with special counsel Robert Mueller’s Russia probe. Prosecutors asked for Stone to receive between seven to nine years in prison but in a controversial move, Attorney General Bill Barr stepped in and recommend a more lenient prison sentence.
Trump has hinted several times that a Stone pardon might be forthcoming, but Thursday’s tweet seems to be an outright proclamation that his friend will not spend a day behind bars.
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Prince Charles opens up on missing his family during coronavirus lockdown
The Prince of Wales has opened up about missing his family during the coronavirus lockdown, telling Sky News: “You really just want to give people a hug”.
The prince said he had been making video calls to loved ones but that it was no replacement for seeing them in person.
Talking about how challenging it was for people who miss their relatives while they are prevented from seeing them by COVID-19 restrictions, he said: “Well I haven’t seen my father for a long time.
Bernard Madoff loses bid to be released early from prison
NEW YORK, June 4 (Reuters) – A federal judge on Thursday rejected Bernard Madoff’s request to be released early from prison, after the convicted swindler said he was dying of kidney failure.
Circuit Judge Denny Chin, who sentenced Madoff to 150 years in prison in 2009, wrote that while Madoff’s medical condition was “most unfortunate, compassionate release is not warranted.”
PHOTOS: Denver memorial for George Floyd at Civic Center Park
Denver held a peaceful rally focused on unity, love, community, respect and understanding at Civic Center Park on Thursday, June 4, 2020. Hundreds gathered as speakers took the stage with impassioned speeches that sometimes turned into debates in which men and women spoke and heard one another as the crowd looked on.