Science Applications International Corporation Q1 Profit Decreases, but beats estimates

European Economics Preview: Germany Unemployment Data Due

Unemployment from Germany and flash consumer prices from Euro area are due on Tuesday, headlining a busy day for the European economic news.

At 2.45 am ET, France’s Insee publishes revised GDP, flash consumer and harmonized consumer prices, household consumption and producer prices data. Consumer price inflation is seen at 5.0 percent in May versus 4.8 percent in April.

At 3.00 am ET, the Federal Statistical Office publishes Swiss GDP data for the first quarter. The economy is forecast to grow 0.3 percent sequentially.

At 3.55 am ET, the Federal Labor Agency is scheduled to release German unemployment figures for May. The jobless rate is expected to remain unchanged at 5.0 percent.

At 4.00 am ET, Italy’s revised GDP data for the first quarter is due.

Half an hour later, the Bank of England is set to issue mortgage approvals data for April. The number of mortgages approved in April is expected to fall to 69,000 from 70,690 in March.

At 5.00 am ET, Eurostat is scheduled to issue flash HICP data. Inflation is forecast to climb to a record 7.7 percent in May from 7.4 percent in April.

In the meantime, Italy’s flash consumer and harmonized price data for May. Consumer price inflation is seen at 6.2 percent, up from 6.0 percent in April.

Pre-market Movers: DIDI, EVTL, YMM, LXRX, BZ…

The following are some of the stocks making big moves in Monday’s pre-market trading (as of 06.54 A.M. ET).

In the Green

DiDi Global Inc. (DIDI) is up over 53% at $2.84
Vertical Aerospace Ltd. (EVTL) is up over 44% at $6.90
Full Truck Alliance Co. Ltd. (YMM) is up over 26% at $8.72
Lexicon Pharmaceuticals, Inc. (LXRX) is up over 23% at $2.23
Kanzhun Limited (BZ) is up over 20% at $26.10
Super Group (SGHC) Limited (SGHC) is up over 17% at $7.47
AeroClean Technologies, Inc. (AERC) is up over 15% at $2.73
Charge Enterprises, Inc. (CRGE) is up over 14% at $5.76
Youdao, Inc. (DAO) is up over 13% at $5.33
Energy Vault Holdings, Inc. (NRGV) is up over 12% at $18.00
Standard Lithium Ltd. (SLI) is up over 12% at $6.49
BNY Mellon High Yield Strategies Fund (DHF) is up over 11% at $2.80
Elevation Oncology, Inc. (ELEV) is up over 10% at $2.39
HUYA Inc. (HUYA) is up over 8% at $4.39

In the Red

Douglas Emmett, Inc. (DEI) is down over 10% at $24.39
Inspirato Incorporated (ISPO) is down over 9% at $5.65
Red Robin Gourmet Burgers, Inc. (RRGB) is down over 8% at $9.00
Talos Energy Inc. (TALO) is down over 6% at $22.17
N-able, Inc. (NABL) is down over 6% at $10.16
Q2 Holdings, Inc. (QTWO) is down over 5% at $50.11

Becton, Dickinson And Co. To Buy Parata Systems In $1.525 Bln All-cash Deal

Medical technology company Becton, Dickinson and Co. or BD (BDX) announced Monday a definitive agreement for BD to acquire Parata Systems, an innovative provider of pharmacy automation solutions, in a $1.525 billion all-cash transaction.

Parata’s portfolio of innovative pharmacy automation solutions power a growing network of pharmacies to reduce costs, enhance patient safety and improve the patient experience. Parata provides BD access to a new $600 million pharmacy automation market segment that is expected to grow approximately 10% annually to $1.5 billion in the U.S. alone over 10 years.

The proposed acquisition will expand BD Transformative Solutions to provide new pharmacy automation technologies for hospitals, retail pharmacy, long-term care and home settings. It also advances BD 2025 Strategy to accelerate innovation in smart, connected care and enable new care settings.

BD expects the deal to be immediately accretive to revenue growth, adjusted operating margins and adjusted earnings per share as well as enhances its ability to achieve long-range sales and earnings growth profile.

The transaction is expected to close by the end of the first half of BD’s fiscal year 2023, subject to the satisfaction of customary closing conditions, including receipt of regulatory clearances.

Gynaecologist suspended after seeing patients while ‘under the influence of alcohol’

Judith Hamilton, 53, was said to have put patients at risk drinking two days prior to going to Guy’s and St Thomas’ Hospital, London, where she was a consultant gynaecologist, a disciplinary panel heard.

The hearing was told she reviewed patient notes and conducted telephone clinics.

She was suspended by the Medical Practitioners Council for three months but it did not warrant depriving the public of “an otherwise clinically competent doctor”.

Science Applications International Corporation Q1 Profit Decreases, but beats estimates

Science Applications International Corporation (SAIC) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company’s bottom line totaled $73 million, or $1.29 per share. This compares with $81 million, or $1.38 per share, in last year’s first quarter.

Excluding items, Science Applications International Corporation reported adjusted earnings of $1.88 per share for the period.

Analysts on average had expected the company to earn $1.77 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.9% to $1.99 billion from $1.88 billion last year.

Science Applications International Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $73 Mln. vs. $81 Mln. last year.
-EPS (Q1): $1.29 vs. $1.38 last year.
-Analyst Estimates: $1.77
-Revenue (Q1): $1.99 Bln vs. $1.88 Bln last year.

-Guidance:
Full year EPS guidance: Adj: $6.90 to $7.20
Full year revenue guidance: $7.43 to $7.55 Bln