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Share buybacks are stealth executive compensation.
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Michigan business hands out $4 million in Christmas bonuses to workersOwner Lee Schoenherr told his 200 employees he'll share $4 million with full-time workers. “My wife, Joan, and I are blessed in so many ways. We want to share these blessings with the men and women whose energy, passion and loyalty inspire us every day.” Memo to myself...pick up some extra floral foam. What a great reward from an employer to his workers. Wonderful Man 👏🏽👏🏽👏🏽
Source: USATODAY - 🏆 100. / 63 Read more »
Accenture beats earnings expectations, raises dividend 10%Accenture PLC |phrase background-info='BRIEFING-BOOK' name='acn' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|acn'||/phrase| reported fiscal fourth-quarter earnings and revenue that beat expectations, provided a upbeat outlook and raised its semi-annual dividend by 10%. The stock slipped 0.5% in premarket trade. Net earnings for the quarter to Aug. 31 rose to $1.03 billion, or $1.58 a share, from $974.1 million, or $1.48 a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.56. Revenue before reimbursements increased 11% to $10.15 billion, beating the FactSet consensus of $10.01 billion, as consulting revenue rose 12% and outsourcing revenue grew 9%, with both segments topping expectations. Looking ahead, the consultant expects fiscal first-quarter revenue of $10.35 billion to $10.65 billion, above the FactSet consensus of $10.18 billion. Separately, the company raised its semi-annual dividend to $1.46 a share from $1.33 a share, with the new dividend payable Nov. 15 to shareholders of record on Oct. 18. The company said it will begin paying quarterly dividends starting the first quarter of fiscal 2020. The stock has run up 13% year to date through Wednesday, while the S&P 500 |phrase background-info='BRIEFING-BOOK' name='spx' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|spx'||/phrase| has gained 8.7%.
Source: MarketWatch - 🏆 3. / 97 Read more »
Clorox beats earnings expectations, while sales were in lineClorox Co. reported Monday a fiscal second-quarter profit that beat expectations, while sales matched views. The consumer products company's stock was still inactive in premarket trade. Net income fell to $182 million, or $1.40 a share, from $233 million, or $1.77 a share, in the same period a year ago, which included a one-time benefit from tax reform. The FactSet consensus for earnings per share was $1.30. Sales rose 4% to $1.47 billion, in line with the FactSet consensus, as better-than-expected cleaning and lifestyle segment sales offset a miss in household sales. The company affirmed its fiscal 2019 guidance ranges for sales growth of 2% to 4% and for EPS of $6.20 to $6.40. The stock has lost 2.8% over the past three months, while the SPDR Consumer Staples Select Sector ETF has given up 3.4% and the S&P 500 has slipped 0.6%.
Source: MarketWatch - 🏆 3. / 97 Read more »
CarMax's stock rallies after earnings, sales rise above expectationsShares of CarMax Inc. |phrase background-info='BRIEFING-BOOK' name='kmx' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|kmx'||/phrase| surged 1% in premarket trade Wednesday, after the used car retailer reported a fiscal second-quarter profit and sales that rose above expectations, as improved conversion rates offset lower store traffic. Net earnings for the quarter to Aug. 31 increased to $220.9 million, or $1.24 a share, from $181.4 million, or 98 cents a share, in the same period a year ago. The FactSet consensus was for earnings of $1.22 a share. Sales rose 8.6% to $4.77 billion, above the FactSet consensus of $4.65 billion, as used vehicle sales rose 7.6% to $3.98 billion to top expectations of $3.95 billion. Same-store used unit sales rose 2.1%, beating the FactSet consensus of a 0.6% increase. The stock had edged up 0.7% over the past three months through Tuesday, while the S&P 500 |phrase background-info='BRIEFING-BOOK' name='spx' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|spx'||/phrase| has gained 7.1%.
Source: MarketWatch - 🏆 3. / 97 Read more »
North Face owner VF Corp. tops earnings estimates in latest quarterVF Corp. said Friday it had net income of $507.1 million, or $1.26 a share, in its fiscal second quarter to end September, up from $386.1 million, or 97 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.43, ahead of the FactSet consensus of $1.33. Revenue rose to $3.907 billion from $3.392 billion, also ahead of the FactSet consensus of $3.865 billion. The owner of brands including Vans, The North Face and Timberland said earnings were driven by core brands the international and direct-to-consumer platforms and work businesses. The company is now expecting fiscal 2019 adjusted EPS of $3.65 and revenue of at least $13.7 billion. The FactSet consensus is for EPS of $3.63 and revenue of $13.709 billion. Shares were not yet active premarket, but have gained 17.7% in 2018, while the S&P 500 has gained 3.6%.
Source: MarketWatch - 🏆 3. / 97 Read more »