Nucor Q3 Earnings Down, Misses View

Quest Diagnostics Boosts FY22 Outlook – Update

While reporting financial results for the third quarter on Thursday, Quest Diagnostics Inc. (DGX) raised its earnings, adjusted earnings and revenue guidance for the full-year 2022, based on its strong performance in the quarter.

For fiscal 2022, the company now projects earnings in a range of $8.52 and $8.72 per share and adjusted earnings in a range of $9.75 and $9.95 per share on net revenues between $9.72 billion and $9.86 billion.

Previously, the company expected earnings in the range of $8.24 to $8.64 per share and adjusted earnings in the range of $9.55 to $9.95 per share on net revenues between $9.50 billion and $9.75 billion.

On average, 15 analysts polled by Thomson Reuters expect the company to report earnings of $9.68 per share on revenues of $9.67 billion for the year. Analysts’ estimates typically exclude special items.

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U.S. Reports 64K New Covid Cases, 119 Deaths

Covid metrics in the United States continue to fall nationally.

A 20 percent decrease in cases and a 2 percent drop in casualties were recorded in the last two weeks, according to the New York Times’ latest data.

64,686 new infections on Wednesday took the total U.S. Covid cases to 96,838,816.

Pennsylvania led in the number of new infections – 10,021 – and deaths – 119.

The total number of people that have lost their lives due to coronavirus infection in the country has risen to 1,064,072, with 748 new deaths reported on the same day, as per Johns Hopkins University’s latest data.

U.S. hospitals reported a 7 percent decrease in the number of Covid patients in the last two weeks. The number of I.C.U. admissions due to the worse stage of the viral disease has fallen by 10 percent.

U.S. Covid hospitalizations fell to 26,690. 3,123 of these patients are admitted in intensive care units.

The nation’s current test positivity rate is 8.8 percent.

1,816 additional deaths were reported globally on Wednesday, taking the total number of people who have lost their lives due to the pandemic so far to 6,562,936.

East West Bancorp Declares Q4 Cash Dividend Of $0.40 Per Share

While reporting financial results for the third quarter on Thursday, East West Bancorp (EWBC) announced that its Board of Directors has declared fourth quarter 2022 cash dividend of $0.40 per share for the Company’s common stock, payable on November 15, 2022, to stockholders of record on November 1, 2022.

I-270 westbound closed in Commerce City due to crash

Interstate 270 westbound in Commerce City is closed due to a crash in between U.S. 6 and Interstate 76.

The crash was first reported about 6 a.m. Traffic is being diverted to Vasquez Boulevard.

No reopening time has been released yet.

Ukraine’s Military Claims To Have Shot Down 13 ‘kamikaze’ Drones

Ukraine’s military claims to have shot down 13 “kamikaze” drones over the southern Mykolaiv region overnight.

“During the night of October 18-19, the enemy attacked the Mykolaiv region twice with ‘Shahed-136’ kamikaze drones,” the Ukrainian Armed Forces said a statement on Telegram Wednesday. “Eleven were shot down by the air defense of air command “South”, two more — by soldiers of the National Guard of Ukraine and the State Border Service of Ukraine,” it added.

Russian forces have been launching drones and missiles on civilian and energy infrastructure targets across Ukraine since October 7, killing dozens and leading to power and water shortages. Hundreds of towns and villages in the country are in blackout as a result.

1,162 settlements in the Dnipropetrovsk, Zhytomyr, Kirovohrad, Kharkiv, Donetsk, Zaporizhzhia, Luhansk, and Mykolaiv regions remain without power supply,” says Oleksandr Khorunzhyi, a spokesperson for the country’s State Emergency Service.

More than 70 people were killed and many others injured in the attacks, according to him.

Ukraine’s President Volodymyr Zelensky said that one third of the nation’s power stations were destroyed in Russian attacks. Power and water supply is partially disrupted in capital Kyiv after fresh strikes on Tuesday.

Zelensky said the drones are Iranian-made. Iran denied supplying Russia with the small aerial weapons, which are destroyed after hitting the target.

Webster Financial Q3 Profit Climbs

Bank holding company Webster Financial Corp. (WBS) on Thursday reported that its third-quarter net income available to common shareholders were $229.8 million or $1.31 per share, compared to $93.7 million or $1.03 per share last year.

Adjusted earnings per share would have been $1.46 for the quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $1.41 per share for the quarter. Analysts’ estimates, usually, exclude one-time items.

Revenue was $664.6 million for the quarter.

Provision for credit losses totaled $36.5 million.

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UK Prime Minister Liz Truss Quits

British Prime Minister Liss Truss has resigned.

In a statement outside Downing Street Thursday, Truss said she could not deliver the mandate on which she was elected as Conservative leader.

Truss said she had notified King Charles about her resignation.

The Conservative leadership election to find her successor will be completed within the next week, she added.

The third woman Prime Minister in British history, Truss had faced growing calls from Tory MPs to stand down, and quit after just 45 days in the office.

Nucor Q3 Earnings Down, Misses View

Nucor Corp. (NUE) Thursday reported a sharp decline in third-quarter earnings compared to the prior year. Sales were slightly up, and the company attributed lower earnings of the steel mills segment to the reduction in earnings for the quarter.

Looking ahead to the fourth quarter, the company expects a reduction in earnings, compared to the third quarter due to lower average selling prices and lower volumes. The company projects the largest decline in profitability at its sheet mills.

The company reported third-quarter earnings of 1.799 billion, down from $2.223 billion a year ago. On a per-share basis, earnings were $6.50 compared to $7.28 per share last year.

On average, 8 analysts polled by Thomson Reuters expected the company to earn $6.73 per share. Analysts estimates usually exclude special items.

Net sales were $10.50 billion, down 11 percent from $10.313 billion last year. Wall Street estimate was $9.9 billion.