Cornerstone to acquire Saba for $1.4 billion, reports earnings
Cornerstone OnDemand Inc. CSOD, -3.81% shares were halted in the extended session Monday as the software company released earnings and said it was going to acquire Saba for $1.4 billion in cash and stock. The company reported fourth-quarter earnings of $9.4 million, which amounts to 15 cents a share, versus a loss of $3.2 million or 5 cents a share in the year-earlier quarter. Adjusted for stock-based compensation, among other things, earnings were 43 cents a share. Revenue rose to $149.6 million from $138.2 million a year ago. Analysts polled by FactSet had estimated adjusted earnings of 34 cents a share on sales of $146.2 million; for the first quarter, analysts model adjusted earnings of 35 cents a share and sales of $157.5 million. The company said it expects first quarter revenue of $147 million and $150 million. Cornerstone also said Monday that it had reached an agreement to buy Saba, which is a "global leader in talent experience solutions," and expects the acquisition to "substantially increase unlevered free cash flow." Cornerstone stock has fallen 5.3% in the past year, as the S&P 500 index SPX, -3.35% gained 19.5%.
Hertz Global posts wider Q4 loss, sales rise
Hertz Global Holdings Inc. reported a wider loss for the last three months of 2019, despite increased revenue than the same period a year earlier.
The Florida-based car-rental company, which also runs the Dollar and Thrifty brands, had a fourth-quarter loss of $118 million, compared with a loss of $101 million a year earlier.
The company’s adjusted loss was 24 cents a share. Analysts polled by Factset expected an adjusted loss of 27 cents a share.
Revenue was $2.33 billion, up from the $2.29 billion Hertz reported for the year-earlier period. Analysts were expecting $2.34 billion in revenue.
Write to Matt Grossman at [email protected]
Tenet Healthcare Corp. Q4 adjusted earnings Beat Estimates
Below are the earnings highlights for Tenet Healthcare Corp. (THC):
-Earnings: $2 million in Q4 vs. -$5 million in the same period last year.
-EPS: $0.02 in Q4 vs. -$0.05 in the same period last year.
-Excluding items, Tenet Healthcare Corp. reported adjusted earnings of $105 million or $0.99 per share for the period.
-Analysts projected $0.98 per share
-Revenue: $4.81 billion in Q4 vs. $4.62 billion in the same period last year.
Next quarter EPS guidance: $0.42 to $0.75
Next quarter revenue guidance: $4.6 – $4.8 Bln
ONEOK Inc. Q4 Income Advances
ONEOK Inc. (OKE) released earnings for its fourth quarter that increased from last year.
The company’s profit totaled $320.2 million, or $0.77 per share. This compares with $292.9 million, or $0.70 per share, in last year’s fourth quarter.
ONEOK Inc. earnings at a glance:
-Earnings (Q4): $320.2 Mln. vs. $292.9 Mln. last year.
-EPS (Q4): $0.77 vs. $0.70 last year.
Intuit adj. Q2 profit, sales top views
Intuit Inc. said profit rose in the fiscal second quarter, driven by higher sales from its small business and self-employed group, as well as its consumer group.
For the three-month period ended Jan. 31, the maker of financial management tools TurboTax, QuickBooks and Mint posted a net profit of $240 million, or 91 cents a share, compared with a profit of $189 million, or 72 cents a share, a year earlier. On an adjusted basis, the company posted earnings of $1.16 a share, up from a per-share profit of $1 a year earlier.
Analysts polled by FactSet expected an adjusted profit of $1.02 a share.
Total net revenue rose 13% from a year ago to $1.7 billion. Analysts expected revenue of $1.68 billion. The company said sales in its small business and self-employed group rose by 17%, and sales in its consumer group rose by 8%.
Write to Kimberly Chin at [email protected]
US STOCKS SNAPSHOT-Wall Street clobbered as pandemic fears rattle markets
NEW YORK, Feb 24 (Reuters) – Wall Street’s three major stock indexes tumbled on Monday as investors looked for safety on intensifying fears about the global economic impact of the coronavirus after a surge in cases outside China fanned worries about a pandemic.
The Dow Jones Industrial Average fell 1,029.5 points, or 3.55%, to 27,962.91, the S&P 500 lost 111.8 points, or 3.35%, to 3,225.95 and the Nasdaq Composite dropped 355.31 points, or 3.71%, to 9,221.28. (Reporting by Sinéad Carew; Editing by Sandra Maler)
Some 17-Year-Olds Can Vote In Colorado’s Presidential Primary This Year
Coloradans who are 17 years old, your time is now. But only if you’ll be 18 by Nov. 3.
For the first time, teenagers in the state who will turn 18 by the date of the election in November will be allowed to vote in the state’s presidential primary. The new law went into effect in August 2019, but this is the first time it will be put it to use.
The Colorado Secretary of State’s office estimates that as a result of the law, about 24,000 more people are eligible to vote in the primary. The state’s contest is one of 16 held on March 3 ― Super Tuesday ― in the Democratic presidential race.
Colorado has 3.9 million registered voters, so the new, younger cohort is unlikely to significantly alter the outcome of the state’s primary.
“That’s a small number of new active voters, and chances are that turnout won’t be very high among this group, since it tends to be low among young people in general, and probably a lot of them aren’t aware they can vote now,” Seth Masket, a political science professor at the University of Denver, told the Aurora Sentinel. “However, if we see a particularly close race in Colorado, and some 17-year old voters are particularly attached to one candidacy, that bit of extra turnout could make a difference,” he added.
At least seven other states and the District of Columbia have similar statutes on the books, according to The Associated Press.