Infineon Q1 Adj. Profit Rises YoY – Quick Facts
Infineon Technologies AG (IFNNY) reported that its fourth quarter income from continuing operations to shareholders declined year-on-year to 104 million euros from 163 million euros, previous year. Earnings per share from continuing operations was 0.08 euros compared to 0.13 euros. Adjusted net income from continuing operations attributable to shareholders increased to 262 million euros from 232 million euros. Adjusted earnings per share was 0.20 euros compared to 0.19 euros.
First quarter revenue increased to 2.49 billion euros from 2.06 billion euros, last year.
Infineon projects first quarter revenue between 2.4 billion euros and 2.7 billion euros.
For fiscal 2021, Infineon expects revenue of around 10.5 billion euros (plus or minus 5 percent). At the mid-point of the guided revenue range, year-on-year revenue would rise by around 2 billion euros.
Infineon said a proposal will be put forward to the forthcoming AGM to distribute a dividend of 0.22 euros per share for fiscal 2020, 0.05 euros less than prior year. The total dividend amount would sum up to 286 million euros.
Casey’s To Acquire Owner Of Bucky’s Convenience Stores In All-cash $580 Mln Deal – Quick Facts
Convenience store chain Casey’s General Stores, Inc. (CASY) announced Monday an agreement to acquire Buchanan Energy, owner of Bucky’s Convenience Stores, in an all-cash transaction for $580 million. The purchase price includes tax benefits valued at $80 million for a net after-tax purchase price of $500 million.
Buchanan Energy and Bucky’s Convenience Stores were founded as a family-owned and operated business in 1980, operating convenience stores primarily in Illinois and Nebraska.
Casey’s acquisition of Buchanan Energy will include 94 retail stores and 79 dealer locations, as well as multiple parcels of real estate for future new store construction, which will increase Casey’s footprint to over 2,300 stores.
The acquisition will expand Casey’s presence in key Midwest markets, delivering accretive earnings growth and creating value for shareholders, team members and guests.
Casey’s will finance the transaction with a combination of cash on hand, revolver capacity and bank financing. It expects to achieve $23 million in annual synergies by the third year.
The transaction is anticipated to close by the end of calendar year 2020, subject to customary closing conditions and regulatory approval.
Blucora Boosts FY20 Adj. EPS, Revenue Outlook – Quick Facts
While reporting financial results for the third quarter on Monday, financial technology company Blucora, Inc. (BCOR) raised adjusted earnings and revenue guidance for the full-year 2020.
For fiscal 2020, the company now projects a loss in the range of $7.05 to $6.94 per share and adjusted earnings in a range of $0.95 to $1.05 per share on total revenues between $742.5 million and $748.5 million.
Previously, the company expected a loss in the range of $7.09 to $6.92 per share and adjusted earnings in a range of $0.83 to $0.98 per share on total revenues between $733.0 million and $747.0 million.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.95 per share on revenues of $741.45 million for the year. Analysts’ estimates typically exclude special items.
Streetwear brand Supreme acquired by owner of Timberland, Vans
The wildly popular streetwear brand Supreme inked a deal to be acquired for $2.1 billion by VF Corp. the owner of brands like Timberland and Vans.
Supreme’s investors — The Carylye Group and Goode Partners — said Monday they are selling their stakes in the company, which is known for the cult-like following of its footwear and apparel, which can sell out within minutes.
The deal is expected to close by the end of this year.
Founded in 1994 with a single store in Lower Manhattan on Lafayette Street, Supreme’s limited drops and collaborations with brands including Louis Vuitton, Commes des Garcons, Thom Browne and Fender have been become collector items over the years.
In August 2018, Supreme took out front- and back-page ads in The Post, resulting in sold-out newsstands citywide as fans of the brand snatched up copies, with some reselling the papers for between $5 and $100 each.
Denver-based VF Corporation is “the ideal steward to honor the authentic heritage of this cultural lifestyle brand, while providing the opportunity to leverage our scale our scale and expertise to enable sustainable long-term growth,” chief executive Steve Rendle said in a statement.
The company, which also owns The North Face, expects Supreme to contribute at least $500 million of revenue in fiscal 2022.
Supreme’s founder James Jebbia will remain with the company, which will also retain its New York City headquarters, the companies said.
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Twitter Is Losing It Over Joe Biden’s Subtly Trolling Donald Trump’s MAGA Hats
President Donald Trump’s MAGA era is coming to an end after his loss to President-Elect Joe Biden. And Joe jokingly marked his administration’s new era with a new hat—one Twitter and TikTok are seeing as a clever troll of the last four years of MAGA hats flooding the market and country.
His wife, Dr. Jill Biden, posted a photo of her and Joe after his victory was announced on Saturday. And while the sign she’s holding, where she covers the word “vice” so it says “Dr. and President Biden Live Here,” was meant to be the primary source of attention, Joe’s hat also warranted a close look. The hat reads “We Just Did” and “46” seemingly a response to Trump’s “Make America Great Again.” (Trump is the 45th U.S. president, while Joe will be the 46th.) The biggest shocker in all of this? The Joe Biden campaign store is not selling the hat as merch yet. But hey, it’s probably only a matter of time.