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This Week’s Key Earnings Reports




Every story has winners and losers. Although there will be no tech winners in this week’s storyline, there are other industries which have benefited from the pandemic. Moreover, there is always space for surprises.

On September 28, Cal-Maine Foods (NASDAQ:CALM) reported its first quarter results of FY 2021. Although net sales for the first quarter of fiscal 2021 amounted to $292.8 million, which marks a 21.4 percent increase compared to the same quarter last year, the bottom line was a net loss of $19.4 million, or $0.40 per share.

Thor Industries (NYSE:THO) crushed estimates as it reported a surprise profit gain due to great demand. Thor earnings rose 28% to $2.14 a share while revenue rose a fraction to $2.32 billion fuelled by summer months. Moreover, Thor expects the trend to continue because first-time buyers accounted for more than half of recent new RV purchases. Consequently, its shares rose 1.5% to 94.65 on Monday following the report. Improving the camping experience worked well for Thor as the pandemic brought in new buyers.

Flux Power Holdings’ (NASDAQ:FLUX) revenue increased by 81% to $16.8 million, with fourth quarter revenue rising 107% to $6.3 million. Although the company delivered a quarterly loss per share of $0.63, it is emerging as major Lithium-ion forklift battery market participant.

NETSOL Technologies (NASDAQ:NTWK) delivered another year of profitability amidst challenging market conditions. Although total net revenues decreased primarily due to a decrease in total license fees and services revenues, it was partially offset by an increase in total maintenance fees, allowing the company to deliver a gross profit of $7.0 million for the fourth quarter.

Weibo Corporation (NASDAQ: WB) saw its shares climb more than 8 percent on Monday after topping estimates. The Chinese social media platform delivered adjusted earnings of $114.5 million or $0.50 per share. Revenue for the quarter decreased 10% year-over-year to $387.4 million as the pandemic halted  advertising revenues.

McCormick & Co. Inc (NYSE: MKC) also managed to beat third quarter estimates as it is benefiting from dining at home trend that emerged stronger than ever due to the pandemic. The Hunt Valley-based maker of spices and flavorings delivered a net income of $206.1 million and it expects fiscal 2020 sales to grow at the upper end of its up 4% to 5% range.

After the closing bell today, Micron Technology Inc (NASDAQ: MU) will report its fiscal fourth-quarter earnings. FactSet reported Wall Street expects revenue of $5.89 billion resulting in adjusted earnings of 98 cents a share whereas Micron forecasted $5.75 billion to $6.25 billion and 95 cents to $1.15 a share. The biggest U.S. maker of computer memory chips said in August the outlook for demand is worsening and predicted it’s unlikely to meet its revenue forecast due to the recession.

Earlier this morning, Angio Dynamics Inc (NASDAQ: ANGO) reported a loss of $4.3 million or 11 cents per share in its fiscal first quarter on revenues of $70.2 million. The Latham, New York-based medical device maker saw its shares drop 33% since the beginning of the year and 42% over the last 12 months.

This could be a big week for Pepsi Co Inc (NASDAQ: PEP) as it won a major distributorship as it inked a deal today to be the exclusive distributor for Evian brand bottled water in Canada. Its earnings report will cover the maximum impact of the pandemic, which powered historic demand swings in each business segment. On Thursday, Pepsi is expected to deliver positive news on both the sales and earnings sides of the busines as its broad food portfolio turned out to be a huge asset during the pandemic. But, it did report   reported weaker profitability in mid-July and asked investors to brace for further declines ahead due to some historic stresses and COVID-19 related costs.

On Thursday, the market will get an update whether the alcoholic beverage giant Constellation Brands (NYSE: STZ) can better navigate through the challenges that have reduced sales for global peers like Molson Coors (NYSE:TAP) and Anheuser-Busch InBev (NYSE:BUD). For one thing, investors can be thrilled that its business model isn’t as exposed to the dreadful  fate of restaurants and bars. Collapsing sales in that niche only harmed revenues by 6% during the last quarter while its rivals each posted double-digit slumps. The company’s focus on the premium side of the market delivered strong profitability in recent years, but it struggled with especially weak results in its wine and spirits despite some major divestments in fiscal 2020. Capital spending is also an important topic as the company entered recreational marijuana through Canopy Growth (NYSE: CGC). The venture has been a bit of a drag on the business, but management emphasized this is an attractive long-term asset due to the market’s potential.

Bed Bath & Beyond Inc (NASDAQ: BBBY) just announced it hired former  Target (NYSE: TGT) executive as its Chief Strategy Officer as part of its massive restructuring. The embattled home furnishings company failed to revamp its business model in order to survive the onslaught of e-commerce giants. BBB is actively exploring new growth opportunities in the home, baby, beauty and wellness segments. When it reports its fiscal Q2 earnings after markets close on Thursday, it will also provide valuable insight into new customer patterns.

Despite the lack of bluechips on this somewhat lighter earnings schedule, this week will provide us with valuable insights on new consumer trends and how well is the economy doing on its path to recovery. Social distancing made RVs more appealing and we are yet to see the new trends that will reshape our new normal.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

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COVID-19 Was Powerless Against FAANG Stocks- But There Are More Battles to Be Won!



Facebook Earnings News

FAANG is an acronym that stands for the five most popular and best-performing US technology stocks in the market. They are Facebook Inc (NASDAQ:FB), Inc (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Netflix (NASDAQ:NFLX) and Alphabet’s Google (NASDAQ:GOOG). Well, Facebook, Amazon and Netflix hit record highs recently but this doesn’t mean all is bright.

Alphabet Trails Behind Facebook. But Despite Hitting Highs- Controversies Remain.

Facebook’s stock (NASDAQ:FB)  is up by about 16% since early 2018 which is below 28% gain for Google’s parent Alphabet’s stock (NASDAQ: GOOGL) over the same period. Facebook’s revenues have expanded 74% between 2017 and 2019. This is 1.6x those of Google in the same period. Facebook’s higher revenue growth over recent years and its higher multiple imply higher potential earnings growth in the future. The hype is led by its big push into e-commerce with the launch of Shops.  And it took Shopify Inc (NYSE:SHOP) for the ride as well, which became Canada’s most valuable company. But controversies remain at Facebook’s side as Zuckerberg recently refused to act against President Trump’s posts.

Alphabet’s Potential Could Be Stronger Than We Realize

It can be argued that the company has a higher quality revenue mix, especially due to its highest-growing segment, Google’s Cloud business that gives more resilience to Google’s revenues. Google has very large advertising exposure but unlike Facebook that earns 98% of revenues from it, ads contribute 80% to Google’s revenues. So Google’s pay per click advertising, for which marketers only pay when their ads get results, could hold up stronger than anticipated. While many of Google’s offerings don’t make much money yet, they could imply that Google is being undervalued.

Amazon Stock May Have Soared With Restarted Non-Essential Deliveries But Its Biggest Weakness Remained

The company is at a crossroads as it is facing sharp criticism over its treatment of employees – and the way the company responds to the objections may well determine its future.

The e-commerce giant made it easier for employees to juggle day care amid the COVID-19 pandemic. It announced ten days of subsidized emergency backup child or adult care. By covering more more than 90% of the cost of care, the e-commerce giant will invest several million dollars to offer this benefit during the next few months. What we don’t know is if the spending is part of the $4 billion Amazon took aside for its COVID-19 response during the current quarter.

But it is unclear whether the importance the company now seems to be placing on its employees is just a forced response to the criticism or if it truly reflects its commitment to the wellbeing of frontline employees. After all, the company was known for its poor working conditions long before the pandemic.

You could think that Amazon performed well anyway but workforce management also matters to investors. In last week’s shareholder meeting, they showed concern for the company’s reputation to be permanently damaged by this increased scrutiny. Bezos is being pressured to improve the treatment of Amazon’s workforce.


Shares of Apple have been on a good track for a while. Investors have applauded the company’s shift from a business model that is dependent on hardware revenue to a more services-based structure. As a reward, its stock went up 80% over the past year. Since surpassing a $1 trillion market cap in 2019, shares of Apple have continued to climb sharply. The company’s value has come near $1.4 trillion. Further robust growth in Apple’s services and wearables businesses and strong operational tailwinds over the next for years will help the tech company go forward. But with sales of the iPhone having hit a saturation point, which is why Apple has only grown its revenue by a total of 20% over the last three years, the switch or innovation is a must.

Netflix Achieved Record Figures but Analyst Fear Collapse

Despite short term headwinds, Netflix gathered a fast-growing member base of 182.86 million. It blew away expectations by adding 15.77 million new subscribers in the first quarter. But sceptics are not a fan of its high cash burn as Netflix is heavily spending on content. It burned more than $3.2 billion in cash last year. Also, whether Netflix will continue to be able to raise prices to offset its rising costs in light of this increased competition.


The overall performance of the FAANG stocks is optimistic for the global economic recovery. No one seems to be afraid of holding any of FAANG stocks right now. But that doesn’t mean each doesn’t have its own concern.

The most ‘threatened’ seems to be Amazon. Amazon should direct all its resourcefulness and superior operational capabilities towards employees.  Bezos must see Amazon’s workforce as an energizing wheel that propels the company’s productivity and not as a hit to the bottom line. In other words, Amazon must give the same attention to its employees as it did to its customers.

This article is not a press release and is contributed by Ivana Popovic who is a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . Ivana Popovic does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: Questions about this release can be send to

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Live Trump WH Officials hold press briefing in Rose Garden – Fox Coverage



Live President Trump coverage through Fox News live from the White House.

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Bed Bath & Beyond – Bouncing Back or Going Further Down?



Bed Bath Beyond

Bed Bath & Beyond (NASDAQ:BBBY) surprised many with its stock bouncing back a bit by jumping nearly 5 percent during Monday’s premarket trading but can the troubled retailer indeed pull out a comeback in 2020? Under its new CEO Mark Tritton, it pulled out some rather dramatic moves but many don’t feel optimistic about the company’s third quarter earnings that are scheduled to be released on Wednesday.

$250 million real estate deal

After the retailer announced a sale-leaseback transaction which resulted in proceeds of $250 million. Many enterprises have come down to this in an effort to pay off its debt but Target Corporation (NYSE:TGT) resisted such a shift and even though Macy’s Inc (NYSE:M) had its share of limited asset sales, it resisted this widespread trend. The raising concern is whether the company is mortgaging its future after suffering from its first ever quarter loss last year.

December storm

Tritton has been in the CEO seat for only a short while after leaving Target but is surely wasting no time in executing a turnover strategy. In December, he wiped out C-level management, leaving the company lighter by six executives. But Target, Amazon (NASDAQ:AMZN) and Walmart (NYSE:WMT) are luring customers by selling pretty much the same items with more appealing internet presence and speedier shipping.

Third quarter expectations

Analysts are estimated a 6% decline in revenue $3.03 billion a year ago, coming down to $2.86 billion. Earnings forecasts are at $0.03 per share which is a dramatic 84% plunge from last year’s third-quarter results of $0.18 per share. The company didn’t provide quarterly guidance, but it did reiterate its full-year outlook for sales of $11.4 billion, which would be down 5% year over year. With the cleaning being implemented by the head of the house, it wouldn’t be surprising for the retailer to further drop its expectations. A bounce-back is unlikely, but the recent transactions could somewhat ‘protect’ the stock from a consequent tumble.


The retailer has outpaced the the S&P 500 index that reached 27.8% by gaining 34.6% over the past 12 months. Since Tritton was appointed CEO in October, shares went up over 40% and more than doubled from the lows they were hit by in August, but it is unlikely for this positive trend to be sustained in the near-future. Serious matters definitely need to be fixed but the results of the turnover strategy and whether this indeed is the first step toward unlocking valuable capital as according to the CEO, are yet to be seen. How bad things truly got and the extent of damage Tritton is set out to remedy will be at least clearer after the company reports its third quarter earnings on Wednesday. But one thing is certain: removing half a dozen of executives who executed the turnaround strategy implies things aren’t going according to plan.

This article is contributed by It was written by an independently verified journalist and is not a press release. It should not be construed as investment advice.

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Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact:

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