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European Economics Preview: Eurozone Foreign Trade Data Due

Sakar International Recalls Tony Hawk Silver Helmets

Sakar International has recalled about 12,655 Tony Hawk silver metallic multi-purpose helmets that were sold exclusively at Walmart (WMT) due to risk of head injury.

According to Consumer Product Safety Commission, the helmets were recalled because they do not comply with the positional stability and retention system requirements of the U.S. CPSC federal safety standard for bicycle helmets. The helmets can fail to protect in the event of a crash, posing a risk of head injury.

The recall involves Tony Hawk Silver Metallic multi-purpose helmet, which have silver with black straps and a black buckle. Tony Hawk’s signature is printed on the outside of the helmet.

The company has asked its customers to immediately stop using the recalled helmets and contact Sakar for instructions on receiving a refund in the form of a $40 Walmart gift card.

Consumers should not return the helmet to Walmart and should contact Sakar for the gift card and to facilitate returns using prepaid postage packaging.

The product were sold at Walmart stores nationwide and online at from March 2022 through June 2022 for about $30.

Tenet Healthcare Corp. Profit Retreats In Q2, misses estimates

Tenet Healthcare Corp. (THC) announced earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings totaled $38 million, or $0.35 per share. This compares with $119 million, or $1.10 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 6.3% to $4.64 billion from $4.95 billion last year.

Tenet Healthcare Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $38 Mln. vs. $119 Mln. last year.
-EPS (Q2): $0.35 vs. $1.10 last year.
-Analyst Estimates: $0.87
-Revenue (Q2): $4.64 Bln vs. $4.95 Bln last year.

-Guidance:
Next quarter revenue guidance: $4.7-$4.9 Bln
Full year revenue guidance: $19.0-$19.4 Bln

Seagate Technology PLC Profit Retreats In Q4

Seagate Technology PLC (STX) revealed earnings for fourth quarter that decreased from the same period last year

The company’s bottom line came in at $276 million, or $1.27 per share. This compares with $482 million, or $2.07 per share, in last year’s fourth quarter.

Excluding items, Seagate Technology PLC reported adjusted earnings of $345 million or $1.59 per share for the period.

The company’s revenue for the quarter fell 12.6% to $2.63 billion from $3.01 billion last year.

Seagate Technology PLC earnings at a glance (GAAP) :

-Earnings (Q4): $276 Mln. vs. $482 Mln. last year.
-EPS (Q4): $1.27 vs. $2.07 last year.
-Revenue (Q4): $2.63 Bln vs. $3.01 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.20 – $1.60
Next quarter revenue guidance: $2.35 – $2.65 Bln

Vicor Corp Reveals Fall In Q2 Income

Vicor Corp (VICR) reported a profit for second quarter that decreased from last year

The company’s earnings totaled $10.6 million, or $0.24 per share. This compares with $19.4 million, or $0.43 per share, in last year’s second quarter.

The company’s revenue for the quarter rose 7.1% to $102.2 million from $95.4 million last year.

Vicor Corp earnings at a glance (GAAP) :

-Earnings (Q2): $10.6 Mln. vs. $19.4 Mln. last year.
-EPS (Q2): $0.24 vs. $0.43 last year.
-Revenue (Q2): $102.2 Mln vs. $95.4 Mln last year.

Man shot dead in Denver’s Elyria-Swansea neighborhood.

A man shot in Denver’s Elyria-Swansea neighborhood has died and a homicide investigation is underway.

The shooting happened near East 48th Avenue and High Street, police said at 12:20 a.m. Thursday on Twitter.

Further details on the shooting were not released. The Denver Office of the Medical Examiner will release the victim’s identity.

Anyone with information on the shooting is asked to call Metro Denver Crime Stoppers at 720-913-7867.

 

First Financial Bancorp Reports Climb In Q2 Bottom Line, Beats estimates

First Financial Bancorp (FFBC) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company’s earnings came in at $51.5 million, or $0.55 per share. This compares with $50.9 million, or $0.52 per share, in last year’s second quarter.

Analysts on average had expected the company to earn $0.5 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 2.8% to $117.2 million from $114.0 million last year.

First Financial Bancorp earnings at a glance (GAAP) :

-Earnings (Q2): $51.5 Mln. vs. $50.9 Mln. last year.
-EPS (Q2): $0.55 vs. $0.52 last year.
-Analyst Estimate: $0.5
-Revenue (Q2): $117.2 Mln vs. $114.0 Mln last year.

European Economics Preview: Eurozone Foreign Trade Data Due

Foreign trade data from the euro area is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers’ Association is slated to issue Europe new car registrations data for June. Sales had declined 11.2 percent annually in May.

At 4.00 am ET, Italy’s Istat releases final consumer and harmonized prices for June. Consumer price inflation is forecast to rise to 8.0 percent in June, as initially estimated, from 6.8 percent in May.

At 5.00 am ET, Eurostat is scheduled to publish Eurozone foreign trade data for May. The deficit had totaled EUR 32.4 billion in April.