National Bank Of Canada Q3 Results Top Estimates – Quick Facts
National Bank of Canada (NA.TO) reported Wednesday that third-quarter net income increased to C$839 million or C$2.36 per share from C$602 million or C$1.66 per share in the prior-year quarter.
This strong growth was driven by increases in total revenues across all of the business segments and by a substantial reduction in provisions for credit losses.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of C$2.11 per share for the quarter. Analysts’ estimates typically exclude special items.
Total revenues for the quarter grew 15 percent to C$2.25 billion from C$1.97 billion in the same quarter last year. Analysts expected revenues of C$2.22 billion for the quarter.
The bank’s Board of Directors also declared regular dividends on the various series of first preferred shares and a dividend of C$0.71 per common share, payable on November 1, 2021 to shareholders of record on September 27, 2021.
Royal Bank Of Canada Q3 Profit Tops Estimates
Royal Bank of Canada (RY.TO,RY) said the company’s third quarter pre-provision, pre-tax earnings increased 6% from a year ago, mainly reflecting strong client-driven growth in volumes and fee-based assets, constructive markets, record investment banking revenue and well-controlled discretionary expenses. Revenue was down 1% from last year, or up 3% net of Insurance fair value change.
Third-quarter adjusted earnings per share was C$3.00, up 35% from a year ago. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of C$2.69, for the quarter. Analysts’ estimates typically exclude special items. Pre-provision, pre-tax earnings improved 6% to C$5.03 billion. Earnings per share was C$2.97, up 35%.
Third quarter revenue was C$12.76 billion, down 1%. Analysts expected revenue of C$12.21 billion, for the quarter.
In ‘The Other Two,’ Drew Tarver and Heléne Yorke Are Almost Famous
What’s it like to be fame-adjacent? The premise of this dark HBO Max comedy was in some ways familiar territory for its two stars. That may not last.
By Alexis Soloski
Police respond to fatal shooting in Broomfield
The Broomfield Police Department responded to a fatal shooting Wednesday morning.
The incident occurred in the 2200 block of Sunridge Circle near U.S. Highway 287 and Miramonte Boulevard.
No details have been made available about the person who has died.
Broomfield police said they would provide more updates soon.
Dick’s Sporting Goods Rises 14% On Improved Q2 Results, Revised Outlook
Shares of sporting goods retailer Dick’s Sporting Goods, Inc. (DKS) are up 14 percent on Wednesday’s trading as the company posted improved second-quarter results and also raised its earnings and sales outlook for the full year.
Second quarter non-GAAP earnings per share was $5.08, compared to $3.21, a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $2.70, for the quarter. Analysts’ estimates typically exclude special items.
Consolidated net income was $495.5 million, or $4.53 per share, for the second quarter. Net sales were $3.27 billion, up 20.7% from last year. Consolidated same store sales rose 19.2%, for the quarter. Analysts expected revenue of $2.82 billion, for the quarter.
For fiscal 2021, the company now expects non-GAAP earnings per share in a range of $12.45 to $12.95, and net sales in a range of $11.52 billion to $11.72 billion. Consolidated same store sales are anticipated to increase in the range of 18.0% to 20.0%. Analysts expect the company to report profit per share of $9.01 on revenue of $10.90 billion.
Currently at $133.32, the stock has traded between $50.47 and $134.79 during the 52 weeks.
Regencell Bioscience Rally Continues; Shares Up 120%
Shares of Regencell Bioscience Holdings Limited (RGC) more than doubled on Wednesday morning despite no stock related news to drive the shares.
RGC is currently trading at $33.71, up $18.41 or 120.33%, on the Nasdaq, on a volume of 3.4 million shares, far above its average volume of 555 thousand shares. The stock has traded between $6.00 and $39.05 in the 52 week period. The stock value has nearly tripled in that time frame.
Regencell Bioscience operates a traditional Chinese medicine (TCM) bioscience company. It focuses on the research, development, and commercialization of TCM for the treatment of neurocognitive disorders and degeneration, primarily attention deficit hyperactivity disorder and autism spectrum disorder.
American Airlines says August revenue weaker than expected because of rise in Covid cases
- Frontier, Southwest and Spirit previously warned new Covid cases are driving down bookings.
- American said July revenue came in ahead of forecasts but is weaker than forecast in August.
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American Airlines on Wednesday said August revenue is coming in lower than expected as a rise in Covid cases drives down bookings, the latest carrier to warn about the impact of infections on sales.
"This has been and we expect will continue to be a very choppy recovery," Vasu Raja, American's chief revenue officer said during an investor conference.
Raja said July revenue came in ahead of the airline's expectations but that the increase in Covid cases has led to weaker near-term bookings and higher cancellations.
"Given the fluidity of the current demand environment we are not ready to make definitive adjustments to our capacity plans or guides at this point in time," Raja said.