) beat Wall Street estimates for fourth-quarter revenue and profit on Thursday, riding on a recovery in North America and steady demand in China for its pricey puffer jackets, sending its shares soaring
Several luxury brands have echoed a slowdown in demand for their products in key market China, which is grappling with a property crisis and youth unemployment. Mr. Chauvet joined Lightspeed as chief revenue officer in October 2012 and replaced Mr. Dasilva in the top job in February 2022, when the founder became executive chairman.
The maker of automation systems says the profit amounted to 49 cents per share for the quarter ended March 31, up from 32 cents per share in the same quarter last year.On an adjusted basis, ATS says it earned 65 cents per share in its latest quarter, down from an adjusted profit of 73 cents per share in the same quarter last year.
First-quarter adjusted earnings per share came in at 60 US cents easily beating the 52-US-cent average forecast. Total revenue of US$161.51-billion also topped estimates. Ms. Seifert would not speculate whether Berkshire might buy all of Chubb, but said Chubb’s focus on commercial lines specialty coverage and high-end homeowners’ protection would be a “good fit” in Berkshire’s insurance and reinsurance portfolio.At Berkshire’s annual meeting on May 4, Mr. Buffett said the cash stake could reach US$200-billion by June, and that cash looked “quite attractive” relative to high-priced stocks and in light of “what’s going on in the world.
Earlier this year, SilverBow rejected a buyout offer from largest shareholder Kimmeridge Energy Management, saying it “undervalued” the company. Kimmeridge is now vying for seats on the company’s board. “An essential component of our plan is to simplify the entire organization to increase our efficiency,” Mr. Provost said. “To date, we have created synergies and found ways to optimize our organizational structure. More action is needed however, in order to make substantial progress toward our priorities.”
The world’s largest farm equipment maker now expects fiscal 2024 net income of about US$7-billion, down sharply from its prior expectations of US$7.50-billion to US$7.75-billion. “Their guidance always implied that they were going to underproduce retail sales to work down inventory. Now that they’ve cut retail sales across all markets, they’re going to have to work a lot harder to achieve that goal.”
The company also expects fiscal 2025 earnings to be between 18 US cents and 21 US cents per share, compared with analysts’ expectation of 59 US cents per share.) shares started lower on Thursday after an upbeat fourth-quarter forecast signaled further stabilization in networking equipment demand and benefits from its US$28-billion deal for cybersecurity firm Splunk.
“We currently expect customers to complete the installation of the majority of their inventory by the end of our fiscal year in July,” said CEO Charles Robbins on a post-earnings call. Shares of the struggling videogame retailer GameStop jumpedd as much as $64.83 this week, while fetching US$1-billion in losses for short sellers, according to Ortex Technologies. Theater chain AMC saw an 88-per-cent gain since Friday’s close.
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