Visa Inc (NYSE:V) after Tuesday’s closing bell reported fiscal third-quarter 2023 net income of $4.16 billion, or adjusted earnings of $2.16 per share, which surpassed the Zacks Investment Research consensus estimate of $2.11 per share.
The global payments processor generated revenue for the period of $8.12 billion, which also beat estimates of $8.06 billion, as the company cited 'resilient' spending as travel recovery continues.
Microsoft posted a fiscal fourth-quarter 2023 earnings beat but its stock fell on a modest decline in the growth of its cloud platform Azure from the previous quarter.
For 4Q, which ended June 30, 2023, the company reported a 21% jump in diluted earnings per share (EPS) to $2.69. Revenue increased by 8% to $56.2 billion.
Coca-Cola is scheduled to report earnings before the opening bell Wednesday, and analysts at Barclays believe the company could outperform Street expectations.
The consensus for Coca-Cola’s second-quarter results is revenue of $10.56 billion and earnings of $0.65 per share. Barclays, meanwhile, projects EPS of $0.74. In terms of sales, the consensus expectation is 3.9% growth, but Barclays projects 4.8%.
AT&T Inc will be looking for good news when the company reports second-quarter earnings Wednesday morning, particularly after its stock hit a fresh 52-week low last week.
The telecommunications giant has seen its share price decline 21% over the past year, thanks in part to recent reports that AT&T, Verizon and others were aware that the lead cables used as phone wires caused employees to have abnormally high amounts of lead in their blood.
Amazon.com Inc (NASDAQ:AMZN) will pay about 15% less for iRobot Corporation (NASDAQ:IRBT) after the vacuum cleaner maker entered into a $200 million financing facility to fund its ongoing operations.
The two companies said in a statement that under the amended terms of their merger agreement, Amazon will pay $51.75 per share for iRobot, instead of the $61 previously agreed. That values the deal at about $1.44 billion, down from $1.7 billion.
RTX shares tumbled after it disclosed a defect with its Pratt & Whitney engines that power Airbus A320neo jets that will require the accelerated removal from service and inspection of the airplanes.
The Pratt & Whitney parent company said on Tuesday that a rare condition in the powder metal used to manufacture certain engine parts requires an accelerated fleet inspection.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has closed a previously announced brokered private offering for gross proceeds of more than $2.5 million.
The company offered over 6 million units, each consisting of one common share and one share purchase warrant, at a price of $0.42 each for total proceeds of $2,546,203.
The Sherwin-Williams Company (SHW) has announced record second revenue and upped its full-year profit and sales guidance, sending its shares higher.
Shares of the Cleveland-based paint company added 4.7% at US$280.67 late morning on Tuesday.
Arizona Silver Exploration Inc issued an update on its Silverton carbonate-hosted gold exploration property in Nevada following a combined helicopter-borne magnetotelluric (MT) and magnetic survey flown over the entire property in March.
The survey was used to create a 3D data set to aid in mapping resistivity changes and structures down to the depth limit, the company said. The goal was to identify signature features that characterize Carlin-type gold deposits, which are hosted in sediment.
Packaging Corporation of America, the third largest producer of containerboard products in North America, shares rose by more than 10% after its second quarter results topped expectations, despite both its profit and revenue falling year-over-year.
For 2Q, it posted earnings per share of $2.31, down from $3.23 in the year-ago quarter but above the Street’s expectation of $1.96, per Zacks Consensus Estimate.
Warren Buffett’s investment firm Berkshire Hathaway is doubling down on fossil fuels, continuing to make multi-billion dollar investments in the sector.
Rather than cashing in the profits it made from its early pandemic energy investments, Berkshire Hathaway is still loading up its oil and gas portfolio despite souring sentiment towards the sector amid poor environmental, social, and governance performance and future demand concerns.
TotalEnergies SE (NYSE:TOT, EPA:TTE) is moving deeper into renewable energy, announcing an agreement to buy the remaining 71% stake in France-based clean power developer Total Eren that it didn’t already own in a US$1.66 billion deal.
The move gives TotalEnergies control of a company with more than 3.5 gigawatts of solar, wind and hydropower in operation, with a project pipeline of more than 10 gigawatts, according to a statement Tuesday.
Dow Inc. (NYSE:DOW) has reported second-quarter revenue and earnings that beat expectations despite a tough period for the company due to lower demand and prices as a result of waning macroeconomic activity.
The company, which provides chemical, plastic and agricultural products and services to a wide range of industries, also warned that conditions are expected to remain challenging for the remainder of its 2023 financial year.
Xerox (NYSE:XRX) stock moved higher after the document management technology and service provider’s second-quarter profit topped expectations and it raised its 2023 guidance.
For 2Q, Xerox (NYSE:XRX) posted adjusted earnings per share of $0.44, up from $0.13 in the year-ago quarter and ahead of the Street expectation per Zacks Consensus Estimate of $0.33.
Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) signed a term sheet last week to advance the construction of infrastructure at its Santander Pipe project in Peru, the company announced.
The company inked the deal with China Railway N° 10 Engineering Group CO. LTD., Sucursal del Perú (CREC10), an engineering and construction company that will provide US$12 million worth of services.
Bridgeline Digital Inc (NASDAQ:BLIN) announced that microwave signals solutions leader Spectrum Control has chosen the company’s artificial intelligence (AI)-based search solution Hawksearch to power their ecommerce platform.
Through a multi-year agreement, the company said it plans to drive conversions on Spectrum Control’s ecommerce platform with Hawksearch features such as Smart Search and Recommendations.
Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) said its recently completed surface time domain electromagnetic (TDEM) and borehole electromagnetic (BHEM) geophysical programs have identified new zones of conductivity at the Gochager Lake project in Saskatchewan, Canada.
The company said the TDEM survey covered approximately 1 square kilometre and defined a moderate-strength zone of conductivity directly over the top of the historic Gochager Lake deposit, extending both to the southwest and the northeast of the deposit area.
Forward Water Technologies Corp (TSX-V:FWTC) told investors it has signed a Heads of Agreement with a leading developer of battery-grade lithium sourced from aquifers using direct lithium extraction (DLE) technology.
In a statement, the company said the document is a “clear milestone” towards completing a definitive agreement between the two parties for the utilization of on-site forward osmosis equipment via a lease-to-own model.
Toggle3D.ai Inc (CSE:TGGL) said it has appointed Anita Matte as its new director of Growth Marketing.
With a strong background in B2B subscription business models and extensive experience at companies such as Amazon, Air Canada, and Marriott International, Matte is well-equipped to drive subscriber growth and Software-as-a-Service (SaaS) revenue at Toggle3D, the company noted.
Predictmedix AI Inc. (CSE:PMED, OTCQB:PMEDF) said its fully owned Indian subsidiary, Predictmedix India Private Ltd, has engaged an Indian supplier for the mass production of AI-powered Safe Entry stations.
"We are thrilled to be partnering with our esteemed Indian supplier to accelerate the mass production and deployment of Safe Entry. We are aligning with a supplier that can rapidly deploy thousands of units in a compressed time frame," said Dr. Rahul Kushwah, COO of Predictmedix, in a statement.
Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) said the remaining drill results from holes MTDD047 and MTDD048 and the results from the 2022 drilling campaign on the Mitu Trend at the Solwezi project in Zambia confirm high-grade intercepts.
The company said significant mineralisation was encountered, adding that the copper mineralisation intercepted at Mitu is associated with cobalt, nickel, and anomalous gold.
Plurilock Security Inc. (TSX-V:PLUR) revealed that it has received top honors from Info-Tech Research Group, a global IT research and advisory firm.
The company's flagship software platform, 'Plurilock AI,' has been ranked as the top Cloud Access Security Broker (CASB) software in Info-Tech's latest evaluation.
Marvel Discovery Corp. (TSX-V:MARV) has announced that its joint venture (JV) partner, Falcon Gold Corp (TSX-V:FG, OTC:FGLDF) has applied for drill permits to carry out activities on their Golden Brook prospects within the Hope Brook Property in southern Newfoundland.
Two permit applications have been submitted by Falcon Gold, one for portable drilling across the property that will expand current prospecting permits and allow for portable drill-testing of targets across the entire property, and a second permit was submitted to diamond drill test prospects within the Kraken-Hydra trend.
Elon Musk's rebranding of Twitter to X may encounter significant legal hurdles due to the difficulty in protecting a single letter and because many other large companies have rights associated with it.
Social media rival Meta Platforms Inc (NASDAQ:FB), for example, which recently launched a Twitter rival called Threads, as well as Instagram, Facebook and WhatsApp, owns a 2019 trademark for a blue-and-white letter 'X' covering software and social media.
Lion Copper and Gold Corp said it has granted stock options pursuant to its 20% fixed stock option plan to certain directors, officers, employees and consultants of the company to purchase up to an aggregate of 23,194,737 common shares of the company. The stock options are exercisable at a price of eight Canadian cents (six US cents) per share and expire five years from the date of grant. The company further announced that it has cancelled an aggregate of 5,333,334 restricted share units (RSUs), representing all of the outstanding RSUs of the company.
Baru Gold Corp announced that its board of directors has approved a new shareholder rights plan to ensure the fair treatment of all shareholders in connection with any take-over bid for the company. The plan is not being adopted in response to any specific proposal to acquire control of Baru Gold, nor is the board aware of any pending or threatened take-over bid for Baru Gold, according to the company. At the close of business today, one right will be issued and attached to each common share of Baru’s outstanding shares, while a right will also automatically attach to each common share of Baru Gold issued hereafter. The rights will become exercisable in the event that any person, together with joint actors, acquires or announces its intention to acquire 20% or more of the company’s outstanding common shares without complying with the 'permitted bid' provisions of the plan or in circumstances where the application of the plan is waived in accordance with its terms. The plan will have an initial term of three years. As well, Baru Gold reported that each finder’s warrant issued in connection with the closing of the financing announced on June 22, 2023, shall be exercisable for one company common share for two years from the date such warrant is issued at an exercise price of $0.05 for the first year and $0.10 for the second year. Specifically, 14,000 finder’s warrants shall expire on June 23, 2025.