Trump Cancels Jacksonville Portion Of Republican National Convention

All passengers on Iranian plane exited, only minor injuries: Beirut airport head

BEIRUT (Reuters) – All passengers exited an Iranian plane that landed in Beirut after a fighter jet approached it over Syrian airspace on Thursday, Beirut airport head Fadi Hassan told Reuters.

He said there were only minor injuries.

The pilot of the Iranian passenger plane had to change altitude quickly to avoid collision, which injured several passengers, the IRIB news agency said earlier.

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Vicor Q2 Bookings Up 45.4% YoY

Vicor Corp. (VICR) reported second quarter earnings per share of $0.06, flat with a year ago. The company noted that its results for the second quarter of 2020 included a non-cash charge of $1.2 million associated with the accelerated recognition of equity-based compensation expenses resulting from stock option awards made during the period. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.02, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter revenues were $70.7 million, an 11.7% increase from $63.4 million, last year. Analysts expected revenue of $66.13 million for the quarter. Second quarter bookings increased 45.4% to $87.5 million.

Patrizio Vinciarelli, CEO, said, “Second quarter bookings reflected accelerating demand for Advanced Products.”

SKECHERS Posts Q2 Loss

SKECHERS USA, Inc. (SKX) Thursday reported second-quarter net loss of $68.1 million or $0.44 per share, compared to net income of $75.2 million or $0.49 per share last year.

Sales for the quarter dropped 42% to $729.5 million from $1.26 billion last year.

Analysts polled by Thomson Reuters expected loss of $0.66 per share on revenues of $659.68 million. Analysts’ estimates typically exclude one-time items.

Sales decreased 42 percent as a result of a 37.8 percent decrease in its international business and a 47.3 percent decrease in the company’s domestic business, reflecting the impact of the global pandemic.

The company’s international sales declines were partially offset by an 11.5 percent increase in China sales. The company’s international wholesale business decreased 29.9 percent and its domestic wholesale business decreased 57.2 percent.

“Despite the challenges of the second quarter, we are optimistic about the early-stage recovery we are seeing in much of our business, including a return to growth in China and the explosive growth of our e-commerce channel,” said John Vandemore, chief financial officer of Skechers.

Manhattan Associates Raises Full-year Guidance

Manhattan Associates Inc. (MANH) said, for 2020, the company now projects adjusted EPS in a range of $1.53 to $1.59, up from prior guidance range $1.50 to $1.58. Total revenue is now estimated in a range of $554 million to $570 million, revised from prior guidance of $541 million to $565 million.

Second quarter non-GAAP adjusted earnings per share was $0.40 compared to $0.42, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.34, for the quarter. Analysts’ estimates typically exclude special items.

Second quarter consolidated total revenue was $135.6 million, compared to $154.3 million, prior year. Analysts expected revenue of $127.34 million for the quarter.

Hearst Magazines president Troy Young has left the company after reports of harassment and 'toxic' culture

Hearst Magazines president Troy Young has resigned from his position effective immediately, Business Insider has learned.

In a company-wide email Thursday night, Hearst president and CEO Steven R. Swartz announced Young was no longer with the company. The announcement comes following a bombshell report from the New York Times detailing Young's history of exhibiting "bullying or harassing" behavior and making "lewd, sexist remarks."

"Troy Young and I have agreed that it is in the best interest of all of us that he resign as president of Hearst Magazines, effective immediately," Swartz wrote in the email to the company.

Young first joined Hearst in 2013 as its president of digital media, and took over as head of Heart Magazines in 2018. 

This is developing…

PHOTOS: Ivanka Trump visits Rocky Mountain National Park – The Denver Post

Adviser to the President Ivanka Trump and Interior Secretary David Bernhardt visited Rocky Mountain National Park on Thursday, July 23, 2020, touting the United States House’s recent passage of the Great American Outdoors Act.

Read more: Ivanka Trump to speak at Rocky Mountain National Park this week

Trump Cancels Jacksonville Portion Of Republican National Convention

President Donald Trump announced Thursday that the portion of the Republican National Convention that had been scheduled to take place in Jacksonville, Florida, has been canceled over concerns about the coronavirus.

Trump, who’d earlier pushed for the convention to be held in Jacksonville, said “it’s not the right time” for such a large-scale event.

This is a developing story. Check back for updates.