10-year Treasury yield is flat after jobless claims data comes about as expected
U.S. Treasury yields remained little changed on Thursday after weekly jobless claims data came in line with expectations.
The yield on the benchmark 10-year Treasury note was flat at 1.60%. The yield on the 30-year Treasury bond moved 1 basis point lower to 1.987%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The number of jobless claims filed during the week ended Nov. 13 totaled 268,000. Economists polled by Dow Jones are expecting initial filings for unemployment insurance fell to 260,000 last week, from the previous week's 267,000 claims.
The benchmark 10-year rate had climbed earlier in the week, following strong retail sales and a higher-than-expected increase in the National Association of Home Builders Housing Market index. The strong economic data stoked concerns about the pace at which the Federal Reserve will normalize monetary policy, particularly amid rising inflation.
Auctions are due to be held on Thursday for $10 billion of 4-week bills, $25 billion of 8-week bills and $14 billion of 10-year Treasury Inflation-Protected Securities.
— CNBC's Maggie Fitzgerald contributed to this market report.
Mountain Meadow Herbs Recalls Certain Candida Flush Supplement
Somers, Montana-based Mountain Meadow Herbs is recalling 54 bottles of Candida Flush supplement product citing risk of exploding bottle, the U.S. Food and Drug Administration said.
The affected Candida Flush bottles contain total 240 capsules per bottle. The product has the UPC 8 13086 01593 2, Lot #012001l Q, and Exp 12/22.
The recalled product was distributed to retailers in IN, MN, MT, NY, TN and in Ontario of Canada, and was sold directly to consumers in IN, KY, MN, MO, MT, NE, OH, PA, VA, and WI.
The recall was initiated following an internal investigation stemming from a customer complaint which revealed that the finished products were becoming pressurized over time. The company is continuing with its investigation to find the root cause of the issue.
Some bottles from the affected lot have become pressurized over time in storage. When opened, the product may forcefully expel air as well as portions of capsules and powder, causing sustaining injuries to customers’ hands and eyes, which may require medical attention.
However, no illnesses or serious injuries have been reported to date related to the recalled product.
New Jersey Resources Corp. Q4 Financial Earnings Declines – Quick Facts
New Jersey Resources Corporation (NJR) reported that its fourth quarter net financial earnings totaled $6.6 million, or $0.07 per share, compared to $43.4 million, or $0.45 per share, a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.08, for the quarter. Analysts’ estimates typically exclude special items.
Fourth-quarter net loss was $1.1 million, or $0.01 per share, compared to net income of $32.7 million, or $0.34 per share, a year ago. Total operating revenues increased to $532.53 million from $400.04 million, prior year. Analysts on average had estimated $380.5 million in revenue.
The company affirmed fiscal 2022 net financial earnings per share guidance range of $2.20 to $2.30. NJR narrowed long-term projected net financial earnings per share growth rate to 7 to 9 percent, from previous range of 6 to 10 percent.
Shares of New Jersey Resources were down 2% in pre-market trade on Thursday.
Coty Raises FY22 Adj. EPS View
Coty Inc. (COTY) raised its fiscal year 2022 adjusted earnings per share guidance to $0.20-$0.24 from its previous guidance of $0.19-$0.23. Analysts polled by Thomson Reuters expect the company to report earnings of $0.24 per share for the year. Analysts’ estimates typically exclude special items. The company also announced its financial goals through fiscal year 2025 and beyond.
The company said it is continuing to expand gross margin and cost savings, allowing it to reinvest into key strategic initiatives and simultaneously deliver annual profit growth, targeting an adjusted EBITDA of at a minimum $900 million for fiscal year 2022, and approaching $1 billion in 2022.
The company projects net revenues to grow 6% to 8% annually LFL through fiscal year 2025 and beyond, ahead of expected beauty market growth of 3% to 5%. It projects adjusted earnings per share to be above 30% CAGR through fiscal year 2025, with mid to high teens % growth thereafter.
Petco Health And Wellness Boosts FY21 Outlook As Q3 Results Top Estimates – Quick Facts
While reporting its financial results for the third quarter on Thursday, pet health and wellness firm Petco Health and Wellness Co., Inc. (WOOF) raised its adjusted earnings and revenue guidance for the full-year 2021.
For fiscal 2021, the company now projects adjusted earnings in a range of $0.86 to $0.88 per share on revenues between $5.725 billion and $5.775 billion.
Previously, the company expected adjusted earnings in the range of $0.81 to $0.85 per share on revenues between $5.60 billion and $5.70 billion.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share on revenues of $5.67 billion for the year. Analysts’ estimates typically exclude special items.
For the third quarter, net income attributable to shareholders soared to $52.75 million or $0.20 per share from $3.40 million or $0.02 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.20 per share, compared to last year’s $0.07 per share.
Sales for the quarter increased 15 percent to $1.44 billion from $1.26 billion in the same quarter last year. Comp sales growth was 15 percent.
The Street was looking for earnings of $0.18 per share on net sales of $1.37 billion for the quarter.