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Darden Restaurants Unveils 2020 Guidance

Darden Restaurants (DRI) unveiled full-year 2020 guidance on Thursday as it posted results for its fiscal fourth quarter which saw adjusted earnings and revenue advance year-on-year, helped by rising sales at the Olive Garden. The Orlando, Fl.-based restaurant chain generated revenue of $2.23 billion in the three months ended May 26, up from $2.13 billion in the corresponding quarter of […]

by × June 20, 2019 ×

Consumer Stocks Still on Positive Ground

Consumer stocks were narrowly higher, with shares of consumer staples companies in the S&P 500 climbing about 0.1% this afternoon while shares of consumer discretionary firms in the S&P 500 were ahead up more than 0.1%. Among consumer stocks moving on news: (+) Monaker Group (MKGI) was unchanged again Friday afternoon, falling from an earlier 1% gain in low-volume. The […]

by × June 14, 2019 ×

Casey’s General Stores Shares Jump

Shares of Casey’s General Stores (CASY) surged in late trade Monday after the firm reported sales and earnings in the fiscal fourth quarter that beat the market’s forecasts. Group revenue rose to $2.18 billion during the three months that ended April 30, from $2.09 billion a year earlier, the company said in an earnings statement. That result was also ahead […]

by × June 11, 2019 ×

Global Portfolio Risk Report, Wednesday, June 5

Oil producers could face a price slump unless OPEC+Russia cut production again, advised ING, the Dutch-based financial house. But Russia may not go along with more production cuts, setting up a surplus-supply situation. “There seems to be growing resistance from Russian oil producers to extend the current production cut deal through until the end of the year,” said ING. The […]

by × June 5, 2019 ×

Amgen Reports Serious Adverse Events in Cancer Treatment Trial

Amgen (AMGN) said Wednesday that an early-stage study of an investigational myeloma treatment showed serious adverse events. The study of AMG 420 for relapsed and/or refractory multiple myeloma involved 42 patients who had experienced progression after at least two prior lines of treatment. They were given AMG 420 in varying doses up to 800 micrograms per day. The maximum tolerated […]

by × June 5, 2019 ×

Campbell Soup Raises Earnings Guidance as Synder’s-Lance Acquisition Supports Third Quarter Beat

Campbell Soup (CPB) raised its guidance for full-year earnings on Wednesday as it posted better-than-expected results for the fiscal third quarter, which was buttressed by its acquisition of salty snacks maker Synder’s-Lance last year. The Camden, NJ-based company, which was founded in 1869 and makes snacks, soups and simple meals, reported total combined company sales of $2.39 billion in the […]

by × June 5, 2019 ×

Wall Street Sees Another Round of Rally on Fed’s Dovish Tone

US stocks pointed north Wednesday after an upbeat close in the previous session amid optimism that the Federal Reserve remains ready to intervene with rate cuts to support economic growth. On Tuesday, Fed Chair Jerome Powell said that the US central bank was ready to step in and “act as appropriate to sustain expansion.” Oil prices nudged lower with global […]

by × June 5, 2019 ×

Taiwan Semiconductor Downplays Impact of US-Huawei Clash

Taiwan Semiconductor Manufacturing (TSM) expects a short-term impact from the US government’s move to blacklist Chinese telecommunication equipment maker Huawei Technologies but the chip maker maintains upbeat for the year, Reuters reported Wednesday. The semiconductor manufacturer had previously clarified that its shipments from Huawei were not affected by the impending ban and that it is keen on maintaining its business […]

by × June 5, 2019 ×

Dow, Deinoive Collaborate on New Cosmetic Active Ingredient

Chemicals maker Dow (DOW) and Deinove said pre-market Wednesday they are teaming up to develop a cosmetic ingredient for skin care applications derived from the French biotechnology company’s collection of bacterial extracts. No financial terms were included in the joint statement. Dow has chosen one extract from Denoive’s bacterial bank. Deinove will develop and optimize a dedicated production process and […]

by × June 5, 2019 ×