Broadridge Financial Solutions Q4 Profit Tops Estimates

Gold Eyes Fourth Straight Weekly Gain

Gold prices edged lower on Friday, but were set for a fourth weekly gain as traders pared down expectations of aggressive policy tightening by the Federal Reserve.

Spot gold slipped 0.1 percent to $1,787.79 per ounce, while U.S. gold futures were down 0.2 percent at $1,802.95.

The dollar index remained on the back foot as signs of cooling consumer and producer price inflation in the United States prompted traders to pare bets of aggressive policy tightening by the Federal Reserve.

Odds of a 75-bps hike in September have fallen to around 34 percent on the back of weak CPI and PPI data.

Trading later in the day may be impacted by reaction to readings on U.S. import and exports prices, consumer sentiment and inflation expectations.

San Francisco Federal Reserve Bank president Mary Daly warned on Thursday it is far too early for the U.S. central bank to “declare victory” in its fight against inflation.

Chicago Fed President Charles Evans said he believes the Fed has plenty more work to do.

Minneapolis Fed President Neel Kashkari said he is sticking to his view that the U.S. central bank will need to raise its policy rate another 1.5 percentage points this year and more in 2023, even if that causes a recession.

Oil On Track For Weekly Gain As IEA Raises Demand Forecast

Oil prices rose on Friday and were on course to post their biggest weekly gain since April after the International Energy Agency (IEA) raised its oil demand growth forecast for this year.

Benchmark Brent crude futures rose half a percent to $100.07 a barrel, while WTI crude futures were up 0.3 percent at $94.61.

The Brent contract was set for a 4 percent weekly gain, while WTI crude futures were on track for a weekly gain of over 5 percent.

The IEA raised its outlook for 2022 demand by 380,000 barrels per day (bpd), saying that soaring oil use for power generation in Europe and the Middle East will boost crude consumption for the rest of the year.

However, the view from the Organization of Petroleum Exporting Countries (OPEC) contrasts with that of the IEA, which cut its forecast, citing slowing world growth.

On Thursday, the OPEC cut its forecast for growth in world oil demand in 2022 by 260,000 barrels per day (bpd).

Rogers, Shaw Agree To Sell Freedom Mobile To Quebecor Unit

Rogers Communications Inc. (RCI.TO,RCI), Shaw Communications Inc. (SJR), and Quebecor Inc., said on Friday that they have inked a deal to sell Freedom Mobile Inc., to Videotron Ltd., a subsidiary of Quebecor.

The transaction is subject to the regulatory approvals and closing of the merger of Shaw and Rogers announced on March 15, 2021.

The companies expect that the transaction addresses the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry regarding the Rogers-Shaw transaction. Accordingly, the parties believe the Rogers-Shaw Transaction should now be approved.

The new combined business of Videotron and Freedom will be able to launch a national 5G offering, using Videotron’s 3500 MHz holdings across Canada, the companies said.

Looking ahead, for the fiscal 2022, Rogers’ has reaffirmed its outlook. For the full-year, the firm still projects a rise of 8 percent to 10 percent in adjusted EBITDA, with an increase in total service revenues of 6 percent to 8 percent.

Biofrontera Inc. Q2 Loss Declines; Maintains FY22 Outlook – Update

(Adds outlook)

Biofrontera Inc. (BFRI) announced Loss for second quarter that decreased from last year

The company’s earnings came in at -$0.85 million, or -$0.05 per share. This compares with -$3.66 million, or -$0.46 per share, in last year’s second quarter.

The company’s revenue for the quarter fell 23.9% to $4.45 million from $5.85 million last year.


Moving forward, for the fiscal 2022, the company still expects a rise in total revenues by at least 30 percent, compared with the previous fiscal. For the fiscal 2021, the drug maker had registered total sales of $24.1 million.

Biofrontera Inc. earnings at a glance (GAAP) :

-Earnings (Q2): -$0.85 Mln. vs. -$3.66 Mln. last year.
-EPS (Q2): -$0.05 vs. -$0.46 last year.
-Revenue (Q2): $4.45 Mln vs. $5.85 Mln last year.

SoftChoice Corp. Q2 Earnings Summary

Below are the earnings highlights for SoftChoice Corp. (SO.TO):

Earnings: $7.8 million in Q2 vs. -$13.1 million in the same period last year.
EPS: $0.12 in Q2 vs. -$0.30 in the same period last year.
Excluding items, SoftChoice Corp. reported adjusted earnings of $16.66 million or $0.27 per share for the period.

Revenue: $254.3 million in Q2 vs. $212.7 million in the same period last year.

UNITY Reports Positive Proof-of-concept Data With UBX1325 In Patients With Diabetic Macular Edema

UNITY Biotechnology, Inc. (UBX) reported 12- and 18-week data from phase 2 BEHOLD study of UBX1325 in patients with diabetic macular edema. In the study, a single injection of UBX1325 led to a progressive, statistically significant, and clinically meaningful improvement in mean Best Corrected Visual Acuity at 12- and 18-weeks compared to sham treatment. UBX1325 treatment also stabilized retinal structure, at 12- and 18-weeks.

The company said the separation of UBX1325-treated patients from sham-treated patients at 18 weeks in measures of both visual function and retinal structure following a single UBX1325 injection suggests that one dose could have a durable therapeutic effect.

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Broadridge Financial Solutions Q4 Profit Tops Estimates

Broadridge Financial Solutions, Inc. (BR) reported fourth quarter adjusted EPS of $2.65 compared to $2.19, a year ago. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $2.62, for the quarter. Analysts’ estimates typically exclude special items.

Net earnings decreased 5% to $248 million. Earnings per share decreased 5% to $2.09.

Total revenues increased 12% to $1.72 billion. Recurring fee revenues increased 15% to $1.19 billion. Analysts on average had estimated $1.66 billion in revenue.

For fiscal 2023, the company expects: 6-9% recurring revenue growth and 7-11% adjusted EPS growth.

Broadridge’s Board declared a quarterly dividend of $0.725 per share payable on October 5, 2022 to stockholders of record on September 15, 2022.

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