Stock Alert: Tupperware Brands Jumps 51% On Upbeat Q2 Profit

Celestica Q2 Profit Beats Estimates – Quick Facts

Celestica Inc. (CLS.TO,CLS) reported second quarter adjusted earnings per share of $0.25, compared to $0.12, a year ago. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.14, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter revenue was $1.49 billion, up 3% compared to $1.45 billion, prior year. Analysts expected revenue of $1.31 billion for the quarter.

“Celestica delivered strong revenue growth and improved non-IFRS operating margin, paid down long-term debt, and continued to generate robust non-IFRS free cash flow in the second quarter,” said Rob Mionis, President and CEO, Celestica.

Strategic Education To Acquire Laureate’s Australia, New Zealand Academic Operations

Strategic Education, Inc. (STRA) has agreed with Laureate Education, Inc. (LAUR) to acquire Laureate’s Australia and New Zealand academic operations. The all-cash deal is valued at $642.7 million. Laureate’s Australia and New Zealand portfolio includes Torrens University Australia, Think Education, and Media Design School.

Following the acquisition, Strategic Education will serve nearly 110,000 students online and at over 85 campuses in the United States, Australia, and New Zealand.

The company expects to close the transaction by the first quarter of 2021.

Cameco Q2 Adj. Loss Wider Than Estimates, But Revenues Beat View

Uranium producer Cameco Corp. (CCJ,CCO.TO) on Wednesday reported attributable net loss for the second quarter that widened to C$53 million or C$0.13 per share from net loss of C$23 million or C$0.06 per share in the year-ago period.

Excluding items, adjusted net loss was C$0.16 per share, compared to adjusted net loss of C$0.04 per share in the prior-year quarter.

However, revenue for the quarter grew 35 percent to C$525 million from C$388 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report loss of C$0.05 per share for the quarter on revenues of C$400.37 million. Analysts’ estimates typically exclude special items.

Looking ahead, Cameco said it plans to restart the Cigar Lake mine at the beginning of September. If the company is able to restart and maintain continued operations, it is targeting its share of production for 2020 to be up to 5.3 million pounds in total.

Cameco said its board of directors has appointed Leontine Atkins as a board member effective August 1, 2020. Atkins currently serves as a director on the boards of Seven Generations Energy and Points International, a leading global loyalty ecommerce platform.

She served as a Partner at KPMG Canada from 2006 until early 2019 and was previously a Partner at KPMG Netherlands.

Four US 'big tech' CEOs to face anti-trust congressional hearing

Why the so-called ‘big four’ tech companies in the US are about to face questions in Congress.

The CEOs of Amazon, Apple, Facebook and Google will testify together before the US Congress on Wednesday to defend their powerful business practices.

They run companies worth a total of about $4.85 trillion.

The video conference meeting is expected to be one of the most aggressive shows against technology companies in decades.

 

Al Jazeera’s Rob Reynolds reports from Los Angeles.

Stock Alert: FireEye Jumps 17% On Quarterly Results, Outlook

Shares of FireEye, Inc. (FEYE) are gaining 17% on Wednesday morning. Tuesday, the cybersecurity company reported its second-quarter results that trumped Wall Street estimates and issued third quarter and annual outlook above the Street estimates, driven largely by continued demand for cybersecurity services amid COVID-19 pandemic.

FEYE is currently trading at $15.71, up $2.33 or 17.41%, on the Nasdaq.

FireEye reported a second-quarter loss of $53.3 million or $0.24 per share, compared with a loss of $67.3 million or $0.33 per share last year. Excluding one-time items, earnings were $0.09 per share, compared with a loss of $0.01 per share a year ago.
Revenues for the second quarter rose 6% to $229.9 million from $217.6 million last year.

Analysts expected a loss of $0.02 per share on revenues of $214.8 million.

Looking forward to the third quarter, FireEye expects adjusted earnings of $0.06 to $0.08 per share on revenue of $225 million to $229 million. Analysts currently project earnings of $0.02 per share on revenue of $220.11 million.

For the year, the company forecast adjusted earnings of $0.22 to $0.26 per share on revenues of $905 million to $925 million. Analysts currently expect earnings of $0.05 per share on revenues of $889.87 million.

“Cyber security remains a top spending priority for organizations worldwide, and the uncertainty of the current environment is creating opportunities for solutions that allow customers to purchase exactly what they need, when they need it,” said CEO Kevin Mandia.

Stock Alert: Tupperware Brands Jumps 51% On Upbeat Q2 Profit

Shares of Tupperware Brands Corp. (TUP) are surging almost 51 percent or $4.89 in Wednesday’s morning trade at $14.52 after the household products company’s second-quarter profit surged from last year and beat analysts’ expectations.

Wednesday, Tupperware reported second-quarter net income of $63.8 million or $1.30 per share, up from $39.4 million or $0.81 per share in the year-ago period. Adjusted earnings of $0.84 per share comfortably beat the consensus estimate of analysts polled by Thomson Reuters of $0.14 per share.

However, net sales for the quarter declined 16.4 percent to $397.4 million from $475.3 million last year.

“The improvements in profitability achieved in the second quarter demonstrate the ongoing commitment to improve operating margins and deliver $180 million in gross cost reductions in 2020,” said Sandra Harris, Chief Financial Officer.

Tupperware has traded in a range of $1.15 to $16.94 in the past 52 weeks.