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Walgreens misses on earnings and revenue

UniFirst Lowers High End Of Revenue Outlook – Quick Facts

UniFirst Corp. (UNF) said it expects fiscal 2020 revenues will be between $1.860 billion and $1.872 billion and full year diluted earnings per share to be between $7.60 and $7.92. Analysts polled by Thomson Reuters expect the company to report profit per share of $8.02 on revenue of $1.86 billion. Analysts’ estimates typically exclude special items.

The company has reduced the high end of its previously disclosed revenue outlook partially due to reduced business activity and wearer levels in the energy dependent markets. The company’s fiscal 2020 will contain one less week compared to fiscal 2019.

For the first-quarter, earnings per share increased to $2.52 from $1.99, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $2.01 for the quarter.

First-quarter consolidated revenues increased 6.1% to $465.4 million. Analysts expected revenue of $459.56 million for the quarter.

Constellation Brands Inc Q3 adjusted earnings Beat Estimates

Constellation Brands Inc (STZ) announced a profit for its third quarter that advanced from the same period last year.

The company’s earnings totaled $360.4 million, or $1.85 per share. This compares with $303.1 million, or $1.56 per share, in last year’s third quarter.

Excluding items, Constellation Brands Inc reported adjusted earnings of $417.6 million or $2.14 per share for the period.

Analysts had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.0% to $1.99 billion from $1.97 billion last year.

Constellation Brands Inc earnings at a glance:

-Earnings (Q3): $417.6 Mln. vs. $461.7 Mln. last year.
-EPS (Q3): $2.14 vs. $2.37 last year.
-Analysts Estimate: $1.83
-Revenue (Q3): $1.99 Bln vs. $1.97 Bln last year.

-Guidance:
Full year EPS guidance: $9.45 – $9.55

Schnitzer Steel Industries Inc. Q1 adjusted earnings Miss Estimates

Below are the earnings highlights for Schnitzer Steel Industries Inc. (SCHN):

-Earnings: -$7.00 million in Q1 vs. $16.19 million in the same period last year.
-EPS: -$0.25 in Q1 vs. $0.57 in the same period last year.
-Excluding items, Schnitzer Steel Industries Inc. reported adjusted earnings of -$5 million or -$0.17 per share for the period.
-Analysts projected -$0.16 per share
-Revenue: $405.58 million in Q1 vs. $564.02 million in the same period last year.

Applied Therapeutics’ stock is up on mid-stage results for metabolic drug

Shares of Applied Therapeutics Inc. APLT, -2.06% jumped 27% in premarket trading on Wednesday after the company said it had positive results from a Phase-2 clinical trial testing AT-007 as a treatment for a rare metabolic disorder. The study found a reduction in plasma galactitol in adults with galactosemia taking the investigational drug, compared to those taking placebo. The company said it plans to seek regulatory approval in the second half of 2020. The therapy has an orphan-drug designation. Applied Therapeutics’ stock is up 149% over the last three months, compared to the S&P 500 SPX, -0.28%, which has gained 10% over the same time period. The ACTION-Galactosemia data presented today is our first pivotal study readout – but it’s just the beginning. We are continuing to advance our pipeline of novel drug candidates in other disease indications and look forward to sharing additional successful data readouts in the future."

Rachel Maddow Explains What’s ‘Really Worrying’ About Mistake Iraq Military Letter

MSNBC’s Rachel Maddow on Tuesday explained what she believes is “really worrying” about a now-disavowed U.S. military letter that announced American troops would be withdrawing from Iraq.

Maddow, appearing on “Late Night with Seth Meyers,” said the letter that Joint Chiefs of Staff Chairman Gen. Mark Milley said was “a mistake” could indicate “the incompetence that we expect I think at the level of the White House even on national security matters might now be extended to things as serious as the defense secretary and the chairman of the Joint Chiefs.”

The letter, written the day after Iraq’s parliament voted to expel U.S. troops, was addressed to an Iraqi defense official amid an escalation in tensions between the U.S. and Iran. Defense Secretary Mark Esper said the letter was “inconsistent” with the U.S. position, but didn’t explain how the communication could have been drafted and sent.

“It’s so freaking weird, I can’t even believe it,” Maddow added, claiming it would be “one thing” for President Donald Trump to “blurt” out incorrect information. But this, she pointed out, “was the actual Pentagon, this was the chairman of the Joint Chiefs of Staff and the secretary of defense.” 

Check out the clip here:

Walgreens misses on earnings and revenue

Walgreens explores going private; Starbucks unveils its holiday cups

Morning Business Outlook: Drugstore chain Walgreens is reportedly exploring whether to go private and as held preliminary talks with major private equity firms; coffee giant Starbucks has unveiled its latest holiday cup.

DEERFIELD, Ill. (AP) _ Walgreens Boots Alliance Inc. (WBA) on Wednesday reported fiscal first-quarter profit of $845 million.

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WALGREENS BOOTS ALLIANCE BUYOUT WOULD BE A MONSTER

The Deerfield, Illinois-based company said it had profit of 95 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.37 per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.

The largest U.S. drugstore chain posted revenue of $34.34 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $34.63 billion.

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Walgreens shares have risen almost 1% since the beginning of the year. The stock has decreased 15% in the last 12 months.