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Accenture Intends To Acquire Experity – Quick Facts

Cognyte Software Q2 Adj. Net Income Declines, Raises Earnings Guidance – Quick Facts

Cognyte Software Ltd. (CGNT) said its second quarter results came in ahead of its expectations. Looking forward, the company increased its annual outlook for profitability.

Second quarter non-GAAP earnings per share declined to $0.17 from $0.29, last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.15, for the quarter. Analysts’ estimates typically exclude special items. Non GAAP net income to company declined to $11.2 million from $19.0 million.

On a GAAP basis, gross profit was $83.9 million, up 14.3% from a year ago. The company reported breakeven per share compared to profit of $0.07.

Non-GAAP revenue was $116.38 million, up 9.5% from a year ago. Analysts expected revenue of $115.57 million, for the quarter. GAAP revenue was $116.0 million, up 10.4%.

For the year ending January 31, 2022, on a non-GAAP basis, the company projects: earnings per share of $0.82, and revenue of $490 million (with a range of plus/minus 2%). Analysts expect the company to report profit per share of $0.80 on revenue of $489.98 million.

For the third quarter, on a non-GAAP basis, the company expects: earnings per share to be $0.10, and revenue to be in a range of $112 million to $117 million. Analysts expect the company to report profit per share of $0.19 on revenue of $123.93 million.

Shares of Cognyte Software were down 7% in pre-market trade on Monday.

The Price of This Household Item Is Soaring

Inflation is once again becoming a potential concern in the U.S., according to some economists. This is due in part to accelerated job growth, new stimulus packages, and the rising price of fuel.   There is a worry, additionally, that interest rates will increase, which could make daily life more expensive, curtail spending, and slow the housing market. (These are the states where home prices went up the most in the last 12 months.)

However, for the time being, these problems seem well into the future. A more immediate concern is the soaring prices of certain everyday items. The prices of some of these have soared, largely due to COVID-19 and resulting economic fallout. The cost of things like groceries, fuel, vehicles, and appliances, among other things, have increased by more than 10% over the past year.

To determine the household items and other products people use regularly for which prices are soaring, 24/7 Wall St. reviewed the U.S. Bureau of Labor Statistics, to find the items with the largest percentage price increase since July 2020. Some miscellaneous and overlapping items were excluded.

Click here to see the price of this household item that is soaring

Invesco Gains On Merger Talks With State Street’s Management Business

Invesco Ltd. (IVZ) shares are rising on Friday morning on reports of merger talks with State Street’s asset management business.

Wall Street Journal said the deal might be one of the biggest in the industry and also cautioned that discussions might not result in an agreement.

Currently, IVZ shares are at $26.01, up 5% from the previous close of $24.89 on a volume of 3,079,643. For the 52-week period, the shares have traded in a range of $9.93-$29.71 on average volume of 3,856,098.

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By Florence Fabricant

Finsbury Food FY Adj. Operating Profit Rises; Revenue Up 2.3%

Finsbury Food Group Plc (FIF.L) said it delivered a robust financial performance during its fiscal year with year-on-year revenue growth and a total sales figure almost at pre-pandemic levels. Adjusted operating profit margin was at 5.1% compared to 4.9%, prior year. Fiscal year revenue improved 2.3% year-on-year. The Group said the growth in revenue is the result of a strong second half performance which saw Group revenues grow 9.1%.

For the 52 weeks ended 26 June 2021, profit before tax increased to 17.0 million pounds from 2.9 million pounds, last year. Profit per share was 9.3 pence compared to a loss of 0.6 pence. Group adjusted operating profit was at 16.1 million pounds, up 7.8%. Adjusted earnings per share increased to 8.6 pence from 7.7 pence.

Group revenue increased to 313.3 million pounds from 306.3 million pounds, previous year. Revenue in the Group’s core division, UK bakery, increased 0.8% for the full year, driven by a strong second half revenue growth of 6.8%. The recovery of the Group’s foodservice business has continued, although slower than expected due to ongoing Covid restrictions.

The Board recommended a full year dividend of 2.4 pence per share for the financial year ending 26 June 2021.

Accenture Intends To Acquire Experity – Quick Facts

Accenture (ACN) announced its plan to acquire Experity, a provider of cloud-based
customer experience and commerce solutions. Headquartered in Sao Paulo, Brazil, Experity offers consulting, implementation, support and other related services for leading cloud-based platforms. Terms of the deal were not disclosed.

“Joining forces with Accenture Interactive will give us a wider canvas to deliver the transformation that our customers have come to expect in terms of personalized and intelligent experiences anywhere, anytime,” said Daniel Huallem, one of the founders of
Experity.