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Why Kellogg Shares Are Trading Higher Today

Kellogg Company (NYSE:K) reported first-quarter FY22 sales growth of 2.4% year-on-year to $3.67 billion, beating the consensus of $3.59 billion. Adjusted EPS of $1.10 beat the analyst consensus of $0.93. Kellogg North America's sales decreased 1%, Europe climbed 2%, Latin America's sales gained 8%, Asia Pacific, Middle East, and Africa's sales jumped 12%.…

Benzinga

Qantas Airways Acquires Remaining 80% Stake In Alliance Aviation For $443M: Reuters

Australia’s Qantas Airways (OTC:QABSY) said it is acquiring the remaining 80% stake in Alliance Aviation Services for A$610.8 million ($443.14 million) in an all-stock deal, Reuters reported. The acquisition is expected to expand Qantas’ presence in the charter business. The airways will make use of the increased activity in the mining sector after reopening international…

Benzinga

Shell's Q1 Profit Up 43% As High Oil Prices Offset Russia Exit

Shell Plc (NYSE:SHEL) reported a record Q1 profit of $9.13 billion, up 43%, boosted by higher oil and gas prices, stellar refining profits, and the strong performance of its trading division. The company reported the highest quarterly profit since 2008, even after writing down $3.9 billion post-tax due to its decision to…

Benzinga

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Warren Buffett's Berkshire Hathaway Boosts Stake In Occidental Petroleum

Warren Buffett's Berkshire Hathaway Inc (NYSE: BRK-B) has bought another 5.9 million shares of Occidental Petroleum Corporation (NYSE:OXY), boosting its stake in the oil company to ~15.2%. Occidental's share price has doubled this year, benefiting from Berkshire's purchases and rising oil prices, with a further boost from the Ukraine crisis. The purchases made on May 2…

Benzinga

Read How Cedar Fair Fared In Q1

Cedar Fair L.P. (NYSE:FUN) reported first-quarter FY22 revenues of $98.8 million, beating the consensus of $76.93 million. During 1Q22, the parks had 130 operating days compared to zero in 1Q21 as the pandemic impacted operations. In-park per capita spending was $58.86 versus $46.13 in 1Q19. Out-of-park revenues for the quarter totaled $16…

Benzinga

CVS Health Q1 Earnings Beat Street Expectations, Raises FY22 Adjusted EPS Forecast

CVS Health Corp's (NYSE:CVS) Q1 sales increased 11.2% Y/Y to $76.83 billion, beating the consensus of $75.39 billion. Adjusted operating income increased 6.6% to $4.48 billion primarily due to increased prescription and front store volume, including the sale of COVID-19 OTC test kits and the impact of COVID-19 vaccinations in the Retail/LTC…

Benzinga

Pizza Hut Parent Misses Q1 Earnings Estimates; Digital Mix Exceeds 40%

Yum! Brands Inc (NYSE:YUM) reported first-quarter FY22 sales growth of 4% year-on-year to $1.55 billion, missing the consensus of $1.59 billion. Same-store sales for the quarter grew 3%. Same-store sales at KFC Division increased 3%, Taco Bell climbed 5%, and Pizza Hut was flat. KFC Division ex-China same-store sales grew 10%, and Pizza…

Benzinga

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HSBC Kick Starts Its $1B Planned Share Buyback: Reuters

HSBC Holdings plc (NYSE:HSBC) has launched its planned $1 billion share buyback Wednesday as it seeks to redeploy excess capital and reward shareholders. The bank has appointed Merrill Lynch International to conduct the process, which could see as many as 2 billion HSBC common shares canceled in a move that should boost average…

Benzinga

India's Biggest IPO Enjoys Analyst Confidence Thanks To Attractive Valuation, Retail Investor Discount

India's largest IPO has started taking orders from individuals and other categories after attracting anchor investors, Bloomberg reports. Retail investors can place their orders for shares of India's state-controlled Life Insurance Corporation until May 9. Also Read: India's Largest IPO Raises $736M Ahead of Listing, Attracts Foreign Investment Retail investors will be allocated 35%…

Benzinga

Thomson Reuters Beats Q1 Aided By 'Big 3' Segments; Lifts FY22 Guidance

Thomson Reuters Corp (NYSE:TRI) reported first-quarter FY22 revenue growth of 6% year-on-year to $1.67 billion, beating the consensus of $1.66 billion. Organic revenues increased 7%, driven by recurring revenues and transaction revenues. The "Big 3" segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) collectively comprised 81% of total revenues and reported organic…

Benzinga

India's Largest IPO Raises $736M Ahead of Listing, Attracts Foreign Investment

India’s largest-ever public offering has attracted anchor investors, including Norway’s sovereign wealth fund and the Singaporean government, raising ₹56.3 billion ($736 million) ahead of its initial public offering, Bloomberg reports. The 123 anchor investors joining Life Insurance Corp of India’s IPO committed to purchasing shares at ₹949 per share, the top end of…

Benzinga

Moody's Shares Drop On Mixed Q1 Results, FY22 Guidance Cut

Moody's Corp (NYSE:MCO) reported a first-quarter FY22 revenue decline of 5% year-on-year to $1.52 billion, beating the consensus of $1.51 billion. Revenue for MIS was $827 million, down 20% Y/Y as geopolitical concerns, rising yields, and elevated market uncertainty affected issuance in all asset classes. Foreign currency translation unfavorably impacted MIS revenue by…

Benzinga

Reckitt Benckiser Hikes Prices To Compensate For Falling Demand: FT

Reckitt Benckiser Group Plc (OTC:RBGLY) (OTC:RBGPF) has hiked prices across its product range to pass an increase in raw material costs onto customers, the Financial Times reported. The move comes after the consumer giant said that inflation on the cost of goods sold has increased from low teens to high teens based on current…

Benzinga

Hertz Chief Sees Business Travel Recovery Choking Already Strained Used Car Supply: CNBC

Hertz Global Holdings, Inc (NASDAQ:HTZ) chief Stephen Scherr saw a recovery in business travel and possibly choking the already packed supplies of rental cars, CNBC’s Jim Cramer reports. However, the rebound of business travel is still in its early stages compared to leisure travel, Scherr said. He saw the in-bound visitor from…

Benzinga

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Tesla Recalled Model 3 Cars In China In April Again - Read Why

Tesla, Inc (NASDAQ:TSLA) recalled 14,684 imported and locally made Model 3 cars in China on software problems as previously declared by the market regulator, Reuters reports. The recall marked Tesla's second batch of recalls in April. Also Read: BREAKING: Tesla Recalls 127,785 Model 3 Vehicles In China Over Manufacturing Defects The regulator said…

Benzinga

First Solar Clocks Sharp Q1 Revenue Drop, Still Reaffirms FY22 Outlook

First Solar, Inc. (NASDAQ:FSLR) reported a first-quarter FY22 sales decline of 54.3% year-over-year to $367.04 million, missing the consensus of $592.68 million. The revenue tumbled due to a decrease in module sold volume, a decrease in the module average selling price, and lower project revenue in Japan. The gross margin fell sharply…

Benzinga

Roku Shares Gain After Q1 Revenue Beat, 1.1M incremental Active Accounts

Roku Inc (NASDAQ:ROKU) reported first-quarter FY22 revenue growth of 28% year-over-year to $733.7 million, beating the consensus of $718.31 million. Platform revenue increased 39% Y/Y to $647 million. In Q1, Roku added 1.1 million incremental Active Accounts to reach 61.3 million; Streaming Hours increased by 1.4 billion hours over the…

Benzinga

Why Caterpillar Shares Are Trading Lower Today

Caterpillar Inc (NYSE:CAT) reported first-quarter FY22 sales and revenue growth of 14.3% year-over-year to $13.59 billion, beating the consensus of $13.40 billion. Revenue growth was driven by higher sales volume and favorable price realization, partially offset by unfavorable currency impacts. Segment Revenue: Construction Industries $6.12 billion (+12% Y/Y), Resource Industries $2.83 billion (+30%…

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Baidu Aims To Expand Robotaxi Service By 2025; Looks To Become Profitable In 3 Years

Search giant Baidu, Inc (NASDAQ:BIDU) plans to deploy cars without humans behind the wheel on Chinese roads for the first time, Bloomberg reports. Baidu looks to expand Apollo Go into 65 cities across China by 2025 and 100 cities by 2030. The ride-hailing platform currently has about 300 cars nationwide, with each vehicle…

Benzinga

Domino's Pizza Shares Slide On Q1 Earnings Miss Due To Inflationary Pressure

Domino's Pizza Inc (NYSE:DPZ) reported first-quarter FY22 sales growth of 2.8% year-on-year to $1.01 billion, missing the consensus of $1.03 billion. Global retail sales increased 3.6%, excluding the negative impact of foreign currency. Without adjusting for the impact of foreign currency, global retail sales grew 0.3%. Same-store sales in the U.S. fell 3.6%,…

Benzinga

McDonald's Shares Gain on Q1 Earnings Beat, Global Comp Sales Growth

McDonald’s Corp (NYSE:MCD) reported first-quarter FY22 sales growth of 11% year-on-year to $5.67 billion, beating the consensus of $5.59 billion. Global comparable sales rose 11.8%, with 3.5% growth in the U.S. Digital systemwide sales exceeded $5 billion, representing over 30% of total systemwide sales in the company's top six markets. Sales by company-operated…

Benzinga

Volkswagen Plans To Expand Chattanooga Plant In US To Focus On EVs: Reuters

Volkswagen AG (OTC:VWAGY) plans to expand its Chattanooga plant in the U.S. to produce an electric pick-up and the new ID.Buzz microbus, Reuters reported. The move is expected to grow the company’s market share in North America. The carmaker plans to invest at least $7.1 billion over the next five years in…

Benzinga

Russian Court Penalizes YouTube, Twitter Again - Read Why

A Russian court has penalized U.S. internet giant Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google 3 million roubles ($41,000) for refusing to remove banned content from YouTube, Reuters reports. The Russian court has also punished social media network Twitter, Inc (NYSE:TWTR) with 3 million roubles ($41,000) for not removing banned content from its site. Also Read: Facebook, Apple,…

Reason

How 'Cranks' Advance Science

A major lesson of the pandemic is that science is "not a priesthood," says Dr. Jeffrey A. Singer, a general surgeon and senior fellow at the Cato Institute.

Benzinga

Boeing Stock Slides On Q1 Results, Loss Widens

Boeing Co (NYSE:BA) first-quarter revenue declined 8% year-over-year to $13.99 billion, missing the consensus of $15.83 billion. Adjusted EPS loss widened to $(2.75) from $(1.53) in 1Q21. The adjusted operating margin declined to (10.4)% compared to (2.4)% a year ago. GAAP operating margin was (8.4)% versus (0.5)% last year. Revenue by segments:…

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