The J. M. Smucker Company Q4 adjusted earnings Beat Estimates

Indonesia reports 585 new coronavirus infections, 23 deaths

JAKARTA (REUTERS) – Indonesia reported 585 new coronavirus infections on Thursday (June 4), taking the number of confirmed cases in the South-east Asian country to 28,818.

There were 23 new deaths, with coronavirus fatalities now at 1,721 since the outbreak started, said Dr Achmad Yurianto, a health ministry official.

There are 8,892 people who have recovered and more than 251,000 have been tested.

China c.bank says it will safeguard stability, prosperity of Hong Kong

BEIJING, June 4 (Reuters) – China’s central bank said on Thursday it would firmly support the development of Hong Kong as a global financial centre and safeguard the stability and prosperity of its economy and financial markets.

The comments came after Beijing moved to impose a national security law on Hong Kong, and Washington threatened to respond by cancelling Hong Kong’s special trading status with the United States.

China says 95 foreign airlines can apply to resume flights

BEIJING (REUTERS) – China’s aviation authority said on Thursday (June 4) that 95 foreign airlines that have suspended services to China can now apply to resume flights, according to the agency’s official newspaper.

It estimated that the number of international flights would increase by 50 from June 8 to 150 per week.

An average of 4,700 passengers are expected to arrive per day versus around 3,000 now, said the website of caacnews, the official newspaper for the Civil Aviation Administration of China.

U.S. Initial Jobless Claims Drop To 2.123 Million

A report released by the Labor Department on Thursday showed a continued decrease in first-time claims for U.S. unemployment benefits in the week ended May 23rd.

The Labor Department said initial jobless claims dropped to 2.123 million, a decrease of 323,000 from the previous week’s revised level of 2.446 million.

Economists had expected jobless claims to fall to 2.100 million from the 2.438 million originally reported for the previous week.

With the decrease, jobless claims pulled back further off the record high of 6.867 million set in the week ended March 28th.

While jobless claims have steadily decreased over the past several weeks, the number of claims since the coronavirus-induced lockdown now exceeds 40 million.

The Labor Department said the less volatile four-week moving average also fell to 2.608 million, a decrease of 436,000 from the previous week’s revised average of 3.044 million.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, tumbled by 3.860 million to 21.052 million in the week ended May 16th.

Meanwhile, the four-week moving average of continuing claims climbed to 22,722,250, an increase of
760,250 from the previous week’s revised average of 21,962,000.

The Labor Department is scheduled to release its closely watched report on the employment situation in the month of May next Friday.

Ciena Corp. Q2 adjusted earnings Beat Estimates

Ciena Corp. (CIEN) reported earnings for its second quarter that advanced from the same period last year.

The company’s earnings totaled $91.66 million, or $0.59 per share. This compares with $52.74 million, or $0.33 per share, in last year’s second quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $117.43 million or $0.76 per share for the period.

Analysts had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 3.4% to $894.05 million from $865.01 million last year.

Ciena Corp. earnings at a glance:

-Earnings (Q2): $117.43 Mln. vs. $76.23 Mln. last year.
-EPS (Q2): $0.76 vs. $0.48 last year.
-Analysts Estimate: $0.49
-Revenue (Q2): $894.05 Mln vs. $865.01 Mln last year.

INOVIO To Begin Clinical Trials Of COVID-19 Vaccine Candidate In Korea

INOVIO (INO), the International Vaccine Institute, and Seoul National University Hospital have partnered to start a Phase 1/2 clinical trial of INOVIO’s COVID-19 vaccine candidate INO-4800 in South Korea. This is the first COVID-19 vaccine clinical study approved in South Korea. It will be funded by the Coalition for Epidemic Preparedness Innovations through INOVIO, and supported by the Korea Center for Disease Control and Prevention/Korea National Institute of Health.

The 2-stage trial of INO-4800, which aims to start later in June, will assess the safety, tolerability, and immunogenicity of the candidate vaccine in 40 healthy adults aged 19-50 years, and will further expand to enroll an additional 120 people aged 19-64 years.

Joseph Kim, INOVIO’s President & CEO, said, “We will soon have Phase 1 data from a US trial of INO-4800 and plan to begin Phase 2/3 trials in mid-summer.”

Amazon Ring Video Doorbell Pro is now £50 off – or you can add an Echo Dot for FREE

AMAZON has significantly dropped the price of its Ring Video Doorbell Pro kit.

Or, if you’d prefer two devices for one, you could pick up an Echo Dot for no additional cost.

This article and featured products have been independently chosen by Sun journalists. It contains links which are ads, and if you click a link and buy a product we will earn revenue

The J. M. Smucker Company Q4 adjusted earnings Beat Estimates

The J. M. Smucker Company (SJM) announced earnings for its fourth quarter that advanced from the same period last year.

The company’s bottom line came in at $226.3 million, or $1.98 per share. This compares with $71.5 million, or $0.63 per share, in last year’s fourth quarter.

Excluding items, The J. M. Smucker Company reported adjusted earnings of $293.4 million or $2.57 per share for the period.

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 rose 10.0% to $2.09 billion from $1.90 billion last year.

The J. M. Smucker Company earnings at a glance:

-Earnings (Q4): $293.4 Mln. vs. $237.1 Mln. last year.
-EPS (Q4): $2.57 vs. $2.08 last year.
-Analysts Estimate: $2.29
-Revenue (Q4): $2.09 Bln vs. $1.90 Bln last year.