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Steven Mnuchin joins 'Kudlow' in first interview since leaving White House

Socket Mobile spikes 980% after announcing barcode scanner for all iPhone 12s

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  • Socket Mobile stock jumped as much as 980% after it uveiled its new DuraSled barcode scanner for the iPhone 12.  
  • DuraSled is the company’s first enterprise-grade barcode scanner for iPhone 12s.  
  • Socket Mobile will sell three models of the DuraSled scanner. 
  • Visit the Business section of Insider for more stories.

Socket Mobile stock was up by nearly 1,000% on Tuesday, propelled by the company’s launch of its DuraSled barcode scanner for Apple’s iPhone 12.

The company said DuraSled is its first enterprise-grade barcode scanner for the iPhone 12, iPhone 12 Pro, iPhone 12 Pro Max and iPhone 12 Mini. The DuraSled will give users of iPhone 12 models access to “professional-grade” scans. Such work includes delivery services, stock counting and ticketing.

Socket Mobile shares leapt to an intraday high of $35, a 980% bounce from their closing price of $3.24 on Friday, the last full day of trading before Monday’s Presidents’ Day holiday.

Socket said the DuraSled scanner will allow employers to support workers with iPhone 12 phones along with supporting older iPhone series ranging from the iPhone 6 to iPhone 11. The DuraSled itself comes in three models. 

Shares of Socket were on course Tuesday to rise by about 1,480% over the past 12 months.

 

 

 

Agilent Technologies Q1 adjusted earnings Beat Estimates

Agilent Technologies (A) released a profit for its first quarter that advanced from the same period last year.

The company’s bottom line totaled $288 million, or $0.93 per share. This compares with $197 million, or $0.63 per share, in last year’s first quarter.

Excluding items, Agilent Technologies reported adjusted earnings of $328 million or $1.06 per share for the period.

Analysts had expected the company to earn $0.89 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 14.0% to $1.55 billion from $1.36 billion last year.

Agilent Technologies earnings at a glance:

-Earnings (Q1): $328 Mln. vs. $252 Mln. last year.
-EPS (Q1): $1.06 vs. $0.81 last year.
-Analysts Estimate: $0.89
-Revenue (Q1): $1.55 Bln vs. $1.36 Bln last year.

-Guidance:
Next quarter EPS guidance: 0.78 – 0.80
Next quarter revenue guidance: $1.37 – $1.39 Bln
Full year EPS guidance: $3.80 – $3.90
Full year revenue guidance: $5.825 – $5.900 Bln

Devon Energy Corp. Q4 adjusted earnings of $0.01 per share

Below are the earnings highlights for Devon Energy Corp. (DVN):

-Earnings: -$73 million in Q4 vs. $12 million in the same period last year.
-EPS: -$0.20 in Q4 vs. $0.03 in the same period last year.
-Excluding items, Devon Energy Corp. reported adjusted earnings of $9 million or $0.01 per share for the period.
-Revenue: $1.28 billion in Q4 vs. $1.59 billion in the same period last year.

GDP to contract 1% in Q3: BofA

Rating firms, brokerages have forecast growth of 0.4-0.7%

Against the majority view of a rebound in the growth numbers for the December quarter, the house economists at the Wall Street brokerage Bank of America Securities on Tuesday pencilled in a 1% contraction in India’s GDP for the third quarter.

On an average, economists at almost all the rating agencies and brokerages have forecast a 0.4-0.7% positive growth for the economy that had contracted by a record 23.9% in the first quarter and 7.5% in the second quarter of the current fiscal.

The contraction in the first half of the current financial year ending March 31 was 15.7%.

Expecting a rebound in the second half, Bank of America Securities India has pencilled in a contraction of only 7-7.7% for the year, still making it the worst on record and the third since Independence.

BofA’s negative 1% GDP growth assessment comes despite its activity indicator recording a 1.7% growth in December after declining for nine months on the trot.

As per BofA, credit growth slipped to 5.6% in late January from 6.2% on January 1. This shows that the economy remains weak and the only relief is that the real lending rates are coming off with the real MCLR falling by 230 basis points since March 2019 on sustained RBI easing, the brokerage added.

On balance, BofA said that it expects the RBI to remain on hold throughout FY22 and raise rates by 100 basis points in FY23.

Steven Mnuchin joins 'Kudlow' in first interview since leaving White House

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Former U.S. Treasury Secretary Steven Mnuchin, in his first television interview since leaving the White House, will join ‘Kudlow’ on FOX Business Network Tuesday as the show makes its debut at 4 p.m. ET.

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Hosted by Larry Kudlow, former National Economic Council director for President Trump, the show will cover top issues and policies shaping America’s economy and future.

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Kudlow and Mnuchin were instrumental in developing and deploying the CARES Act [Coronavirus Aid, Relief, and Economic Security] which delivered financial relief to millions of U.S. businesses and individuals hard hit by the pandemic.

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The show airs each weekday with an encore edition at 7 p.m. ET.

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