Ross Stores Inc. Reports Retreat In Q1 Income, misses estimates

GDS Holdings Rises 14% On Higher Q1 Revenues

Shares of IT company GDS Holdings Ltd. (GDS) are rising 14 percent on Thursday’s trading after reporting higher revenues in the first quarter.

Net revenue increased by 31.5 percent to RMB2.24 billion or $353.9 million in the first quarter from RMB1.71 billion in the same period last year.

In the first-quarter, net loss widened to RMB373.3 million or $58.9 million from net loss of RMB278.7 million a year ago.

Currently at $31.19, the stock has traded between $19.83 and $81.81 during the past 52 weeks.

‘Torn Hearts’ Review: Sequins and Savagery

In this horror movie with a Southern twang, an aspiring country duo seek guidance from their unhinged icon.

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By Lena Wilson

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Cannes Film Festival 2022: Politics Mixed With Moments of Grace

“Top Gun: Maverick,” “Tchaikovsky’s Wife” and other movies each get polemical in their own way. But there are scenes of lyrical beauty, as in “Scarlet.”

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By Manohla Dargis

U.S. Existing Home Sales Slump More Than Expected In April

Existing home sales showed a significant decrease in the month of April, according to a report released by the National Association of Realtors on Thursday.

NAR said existing home sales tumbled 2.4 percent to an annual rate of 5.61 million in April after plunging by 3.0 percent to a revised rate of 5.75 million in March. Economists had expected existing home sales to decrease by 0.7 percent.

With the bigger than expected slump, existing home sales dropped to their lowest annual rate since June of 2020.

“Higher home prices and sharply higher mortgage rates have reduced buyer activity,” said Lawrence Yun, NAR’s chief economist.

He added, “It looks like more declines are imminent in the upcoming months, and we’ll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years.”

The report also showed housing inventory totaled 1.030 million units at the end of April, representing 2.2 months of supply at the current sales pace.

NAR said the median existing-home price for all housing types in April was $391,200, up 14.8 percent from $340,700 in April of 2021

Applied Materials Inc. Q2 Profit Increases, but misses estimates

Applied Materials Inc. (AMAT) reported a profit for its second quarter that increased from last year but missed the Street estimates.

The company’s earnings came in at $1.54 billion, or $1.74 per share. This compares with $1.33 billion, or $1.43 per share, in last year’s second quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.64 billion or $1.85 per share for the period.

Analysts on average had expected the company to earn $1.90 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 12.0% to $6.25 billion from $5.58 billion last year.

Applied Materials Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.54 Bln. vs. $1.33 Bln. last year.
-EPS (Q2): $1.74 vs. $1.43 last year.
-Analyst Estimate: $1.90
-Revenue (Q2): $6.25 Bln vs. $5.58 Bln last year.

-Guidance:
Next quarter EPS guidance: Adj: $1.59 to $1.95
Next quarter revenue guidance: $5.85 – 6.65 Bln

How Much Watching Time Do You Have This Weekend?

Our TV critic recommends checking out a filmed production of Shakespeare in the Park, a George Carlin documentary and a terrific historical drama.

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By Margaret Lyons

U.S. CDC advisers recommend COVID booster for children 5-11

FILE PHOTO: A girl receives the Pfizer-BioNTech coronavirus disease (COVID-19) vaccine in Lansdale, Pennsylvania, U.S., December 5, 2021. REUTERS/Hannah Beier

(Reuters) – A panel of advisers to the U.S. Centers for Disease Control and Prevention on Thursday voted to recommend that all children aged 5 to 11 should receive a COVID-19 vaccine booster dose at least five months after completing the primary vaccination course.

Ross Stores Inc. Reports Retreat In Q1 Income, misses estimates

Ross Stores Inc. (ROST) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company’s bottom line came in at $338.45 million, or $0.97 per share. This compares with $476.48 million, or $1.34 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 4.2% to $4.33 billion from $4.52 billion last year.

Ross Stores Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $338.45 Mln. vs. $476.48 Mln. last year.
-EPS (Q1): $0.97 vs. $1.34 last year.
-Analyst Estimates: $1.00
-Revenue (Q1): $4.33 Bln vs. $4.52 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.99 to $1.07
Full year EPS guidance: $4.34 to $4.58