Trump pushes universities to continue reopening amid a string of campus coronavirus outbreaks

Synopsys, Inc. Q3 adjusted earnings Beat Estimates

Synopsys, Inc. (SNPS) released a profit for its third quarter that increased from last year.

The company’s earnings came in at $252.91 million, or $1.62 per share. This compares with $99.93 million, or $0.65 per share, in last year’s third quarter.

Excluding items, Synopsys, Inc. reported adjusted earnings of $271.95 million or $1.74 per share for the period.

Analysts had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.0% to $964.13 million from $852.97 million last year.

Synopsys, Inc. earnings at a glance:

-Earnings (Q3): $271.95 Mln. vs. $182.46 Mln. last year.
-EPS (Q3): $1.74 vs. $1.18 last year.
-Analysts Estimate: $1.34
-Revenue (Q3): $964.13 Mln vs. $852.97 Mln last year.

-Guidance:
Next quarter EPS guidance: $1.51 – $1.56
Next quarter revenue guidance: $1000 – $1030 Mln
Full year EPS guidance: $5.48 – $5.53
Full year revenue guidance: $3660 – $3690 Mln

L Brands Inc. Q2 adjusted earnings Beat Estimates

Below are the earnings highlights for L Brands Inc. (LB):

-Earnings: -$49.60 million in Q2 vs. $37.60 million in the same period last year.
-EPS: -$0.18 in Q2 vs. $0.14 in the same period last year.
-Excluding items, L Brands Inc. reported adjusted earnings of $69.03 million or $0.25 per share for the period.
-Analysts projected -$0.42 per share
-Revenue: $2.32 million in Q2 vs. $2.90 million in the same period last year.

Airbnb confidentially files for U.S. IPO

Aug 19 (Reuters) – Short-term home rental company Airbnb Inc said on Wednesday it has confidentially filed for an initial public offering with the top U.S. securities regulator. (Reporting by Neha Malara in Bengaluru; Editing by Shounak Dasgupta)

Airbnb has filed confidential IPO paperwork

  • Airbnb on Wednesday announced that it has submitted a draft registration to the Securities and Exchange Commission for an initial public offering.
  • The company did not disclose its financial information nor did it specify how many shares would be offered.
  • The filing comes after a rough year for Airbnb and the U.S. travel industry.

Airbnb on Wednesday announced that it has submitted a draft registration to the Securities and Exchange Commission for an initial public offering.

The company did not disclose its financial information nor did it specify how many shares would be offered.

The filing comes after a rough year for Airbnb and the U.S. travel industry.

Airbnb in May laid off nearly 1,900 employees, or about 25% of the company. The company also slashed marketing costs and raised billions of dollars in debt. Numerous short-term rental hosts have also complained about late or missing payments from Airbnb. 

The coronavirus pandemic brought the travel industry to a halt, resulting in an estimated $330 billion of lost revenue since the beginning of March, according to an Aug. 13 report from the U.S. Travel Association.

However, Airbnb rebounded after a surge of rentals in rural areas, as residents with means fled pandemic-stricken cities. 

Airbnb was valued at $18 billion following its latest funding round in April. That wasnearly half what the company was worth in 2017. 

NVIDIA Corporation Q2 adjusted earnings Beat Estimates

NVIDIA Corporation (NVDA) announced a profit for its second quarter that rose from last year.

The company’s profit totaled $622 million, or $0.99 per share. This compares with $552 million, or $0.90 per share, in last year’s second quarter.

Excluding items, NVIDIA Corporation reported adjusted earnings of $1.37 billion or $2.18 per share for the period.

Analysts had expected the company to earn $1.97 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 50.0% to $3.87 billion from $2.58 billion last year.

NVIDIA Corporation earnings at a glance:

-Earnings (Q2): $1.37 Bln. vs. $0.76 Bln. last year.
-EPS (Q2): $2.18 vs. $1.24 last year.
-Analysts Estimate: $1.97
-Revenue (Q2): $3.87 Bln vs. $2.58 Bln last year.

Rockies’ David Dahl to 10-day injured list; Brendan Rodgers recalled

Rockies outfielder David Dahl, who has been battling lower back soreness, has been placed on the 10-day injured list, the team announced before Wednesday’s home game against the Astros. His assignment to the IL is retroactive back to Aug. 18.

In Dahl’s place, the Rockies have recalled infielder Brendan Rodgers from the team’s alternate training site via Metro State in Denver.

This story is will continue to be updated. 

Trump pushes universities to continue reopening amid a string of campus coronavirus outbreaks

President Donald Trump urged universities to continue reopening their campuses on Wednesday, even as some institutions across the country report clusters of coronavirus outbreaks among their students. 

"We have learned one thing, there's nothing like campus there's nothing like being with a teacher as opposed to being on a computer board," Trump said during a White House press briefing. "The iPads are wonderful but you're not going to learn the same way as being there." 

The president's remarks come as some universities have reported hundreds of Covid-19 cases as students return to campus for the fall semester. The University of North Carolina at Chapel Hill was forced to cancel in-person undergraduate classes on Monday after more than 100 people tested positive. 

"For older people and individuals with underlying conditions, the China virus is very dangerous," Trump said, using a racist slur to describe Covid-19. "But for university students the likelihood of severe illness is less than or equal to the risk of a seasonal flu."

This is a developing story. Please check back later for updates.