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Category: Stock Market
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Will Weakness in Automatic Data Processing, Inc.’s (NASDAQ:ADP) Stock Prove Temporary Given Strong Fundamentals?
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Ford CEO Jim Hackett to step down, Jim Farley to assume top post
A new CEO will be driving into Ford's C-suite.
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Is It Too Late To Consider Buying Comcast Corporation (NASDAQ:CMCS.A)?
Let's talk about the popular Comcast Corporation (NASDAQ:CMCS.A). The company's shares led the NASDAQGS gainers with a…
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Europe air safety regulator gives no firm date for 737 MAX to fly again
Europe’s air safety watchdog has no firm date for Boeing’s grounded 737 MAX to resume flights, it said on Tuesday, adding that the U.S. planemaker had some more work to do before a 17-month-old safety ban could be lifted in Europe. The U.S. Federal Aviation Administration on Monday issued a proposed directive requiring four design or operating changes in the wake of two fatal 737 MAX crashes, in a move which could lead to the agency lifting a grounding order on the jet later this year. The European Union Aviation Safety Agency (EASA) declined to comment directly on the FAA documents, but said it was still waiting to conduct its own test flights before the commercial ban could be lifted in Europe.
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Pan American Silver increases La Colorada skarn deposit mineral resource estimate to 100.4 million tonnes and provides drilling update
VANCOUVER, BC, Aug. 4, 2020 /CNW/ – Pan American Silver Corp.
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Bayer chalks up 9.5 billion euro second-quarter net loss after litigation settlement
German drugs and pesticides group Bayer reported a 9.5 billion euro ($11.2 billion) net loss for the second quarter, following a $10.9 billion settlement of U.S. lawsuits claiming that its weedkiller Roundup caused cancer. A second-quarter gain in adjusted EBITDA of 5.6% to 2.88 billion euros was slightly above analyst expectations.
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Stock market news live updates: Stock futures drift lower as earnings roll on
Stock futures were slightly lower Tuesday morning after a tech-led rally during the regular session onday, with investor attention still centered on fresh signs of corporate and economic stress from the coronavirus pandemic.
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Why Gold’s Upward run Is Unlikely to Last Long
Gold futures price had been relatively stable in recent days on expectations of more stimuli from the world’s largest economy with a pending USD1 trillion fiscal stimulus package awaiting passage from U.S Congress.
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What a weaker dollar means for stocks: Morning Brief
Top news and what to watch in the markets on Tuesday, August 4, 2020.
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Ring Central Falls After-Hours Despite Stellar Q2 Results
Shares in cloud communications company RingCentral (RNG) pulled back in Monday’s after-hours trading despite delivering impressive second quarter earning results.Specifically, Q2 Non-GAAP EPS of $0.24 beat Street estimates by $0.04 while GAAP EPS of $0.01 also topped Street forecasts by $0.48. Plus revenue of $278M beat by $14.22M- and represented strong year-over-year growth of 29%.Subscriptions revenue also increased 32% year over year to $257 million and Total Annualized Exit Monthly Recurring Subscriptions (ARR) increased 33% year over year to $1.1 billion.“We delivered solid Q2 results driven again by strong contributions from mid-market and enterprise customers, as well as our channel partners,” cheered Vlad Shmunis, RingCentral’s CEO. “We are seeing a high level of adoption and engagement with our Message Video Phone (MVP) solution as businesses adapt to a work from anywhere environment.”Looking forward, RNG issued robust guidance for the third quarter with 3Q total revenue of $283.5–289.5M (+21% to +24% y/y) which fell above the $283M consensus estimate. Guidance for subscriber revenue of $263–265M (+25% to +26% y/y) beat the $260M consensus estimate with PF operating margin of 10.0–10.2% is and PF EPS of $0.24.For the full year, RNG raised total revenue range to $1.135 to $1.143B, representing annual growth of 26% to 27%. This is up from its prior range of $1.116 to $1.125B and annual growth of 24% to 25%.Overall the stock shows a bullish Strong Buy Street consensus with an average analyst price target of $306. With shares up a whopping 80% year-to-date, the price target now lies flat with the current share price.Following the report Oppenheimer analyst Brian Schwartz reiterated his buy rating on the stock with a price target of $330. “The quarter displayed record new customer adds and big deals ($1M+ TCV), and robust ARR growth, channel demand, and cash flow” he told investors.“Negatively, guidance implies some growth deceleration in the 2H:2020, but we advise investors to look through it given the strengthening fundamentals and with the near-term estimates mostly de-risked” he wrote, adding that work-from-home is only part of a multi-year secular growth driver in cloud business communications. (See RNG stock analysis on TipRanks).Related News: Apple Snaps Up Canadian Payment Startup Mobeewave For $100M – Report Microsoft Confirms TikTok Purchase Talks Back On Table After Trump Call Twitter Reveals FTC Fine Could Hit $250M; Analysts Stay Sidelined More recent articles from Smarter Analyst: * Varonis Up 7% As Earnings Confirm ‘Strong Fundamental Opportunity’ * Gaia Delivers Strong Earnings Beat; Analyst Sees 70% Upside Ahead * Five9 Continues Winning Streak With Strong Q2 Earnings * Alphabet Issues $10 Billion Bond At Low Borrowing Costs
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