Results for: Business

In its recent earnings report for FQ4, Albertsons Companies (ACI) surpassed EPS estimates while providing an update on its merger plans with Kroger (KR). Despite flat revenue year-over-year, ACI’s 1.0% increase in identical sales fell short of expectations. Strong growth in pharmacy sales compensated for lower fuel and wholesale revenue. The company’s digital business continued to expand, showing a 24% sales surge. Albertsons improved its gross margin to 28.0% of sales, up from 27.8% the previous year. However, excluding fuel and LIFO, the gross margin rate declined 58 basis points. ACI credited its productivity initiatives for enabling continued targeted price investments for customers. ACI and Kroger announced modifications to their divestiture agreement with C&S Wholesale Grocers, expanding the store count to be sold by 166. Shares of ACI rose 0.69% in premarket trading.

CNH Industrial (NYSE: CNHI) has been downgraded to Neutral from Buy by analysts at Bank of America, citing uncertainty following the appointment of a new CEO. The move prompted a 4.3% premarket stock decline. Gerrit Marx will take over as CEO on July 1, succeeding Scott Wine. BofA noted that Wine’s strategy had recently improved cost-cutting, inventory management, and product simplification. The new price target for CNH is $13.20 per share, reflecting a reduced price-to-earnings multiple.

Snap-Loc Cargo Control Systems is introducing a range of cargo-securing innovations, including ratchet tie-downs, heavy-duty dolly E-Track carts, and more, designed to transform supply chain logistics and enhance safety and efficiency. The company’s E-Track Dolly and E-Track Singles are at the forefront of cargo-securing technology, offering ease of use and reliability for businesses across the nation.

Alstom has sold its North American conventional rail signaling business to Knorr-Bremse for ~€630M ($670.5M) as part of its deleveraging plan. The sale will enable Knorr-Bremse to enter the “highly attractive” control, command and signaling segment and become a leader in the U.S. market.

Invesco BuyBack Achievers ETF (PKW) is a smart beta ETF that invests in companies with a history of share buybacks. The fund has outperformed the broad market over the long term and offers investors a unique way to play the share buyback trend. In this article, we will take a deep dive into PKW’s performance, strategy, and holdings. We will also compare PKW to other buyback-focused ETFs and provide our takeaway on the fund.

PacBio’s Q1 results and lowered 2024 revenue outlook have prompted a downgrade from JPMorgan. The company’s shares have fallen in premarket trading on Monday. JPMorgan has withdrawn its price target on the stock and believes that the macro backdrop will continue to affect placements and margins in the near term.

Rachio, the leading smart yard brand, is celebrating Earth Day and the milestone of saving over 200 billion gallons of water through its smart-watering technology. In honor of Earth Month, Rachio is encouraging communities to embrace healthier, eco-conscious lifestyles that promote outdoor living and give back to the planet.

CCELL®, the world’s leading vaporization technology brand, recently announced the launch of a new All-In-One vape, Eco Star. Created from biodegradable, plant-based PLA and designed with an easily removable battery, the Eco Star empowers consumers to make more eco-conscious choices when enjoying the convenience of an AIO vape.

A recent report reveals a decline in investor appetite for digital asset investment products. Outflows totaled $206 million for the second consecutive week, coinciding with decreased trading volumes for Exchange Traded Products (ETPs). The negative sentiment is primarily focused on U.S. ETFs, with established funds bearing the brunt of outflows. In contrast, Canada and Switzerland saw inflows. Bitcoin also experienced significant outflows, while short-selling activity remained low. Ethereum had its sixth consecutive week of outflows, but multi-asset products saw inflows. Blockchain equities continue to face outflows due to concerns surrounding the upcoming Bitcoin halving.

Stock markets are showing some positivity with futures rising on Monday as investors prepare for a heavy week of earnings reports from tech giants like Tesla, Microsoft, Alphabet, and Meta. However, the market is still facing uncertainty due to geopolitical tensions and a sell-off in the tech sector after Netflix’s disappointing earnings.