Latest news for Evonik Indus (OTC:EVKIY) Stock

Evonik Industries is a German chemical company offering a mix of speciality and commodity chemical products. It has a number-one to -three market position in 80% of its businesses. Around 45% of sales are generated in Europe, while the key markets of North America and Asia account for 25% and 20% of sales, respectively. The company is organized into four major segments: specialty additives, smart materials, nutrition and care, and performance materials.

EVONIK INDS AG UNSP/ADR by Evonik Industries AG

Evonik Industries AG

Spok Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPOK#NASDAQ">SPOK</a>) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.19 by 10.53 percent. The company reported quarterly sales of $33.982 million which missed the analyst consensus estimate of $34.310 million by 0.96 percent. This is a 6.80 percent decrease over sales of $36.463 million the same period last year.

Earnings

Earnings Misses

News

SPOK

Spok Holdings Q2 2024 GAAP EPS $0.17 Misses $0.19 Estimate, Sales $33.982M Miss $34.310M Estimate

Trial projected to be initiated shortly following receipt of drug product by trial sites &nbsp;
NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Psyence Biomedical Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBM#NASDAQ">PBM</a>) ("Psyence Biomed" or the "Company") today announced the export of nature-derived psilocybin to Australia and provided an update on its upcoming Phase IIb clinical trial evaluating nature-derived psilocybin as a potential treatment for Adjustment Disorder following an advanced cancer diagnosis in the Palliative Care context.
The Company previously announced that it had entered into partnerships with Fluence, a global leader in professional education and training for psychedelic therapy research, and iNGENū CRO Pty Ltd ("iNGENū"), an Australian clinical research organization (CRO), to support the study. Following a recent site visit by Psyence Biomed leadership to partners and trial sites in Australia, the Company is preparing to initiate the study shortly following the recent successful export of drug candidate, PEX010, from its current supplier, Filament Health.

Biotech

Global

General

Psyence Biomed Announces Export Of Nature-Derived Psilocybin To Australia And Provides Update On Upcoming Phase IIb Trial As A Potential Treatment For Adjustment Disorder Following An Advanced Cancer Diagnosis In The Palliative Care Context

Dividends

SouthState Corporation Increases Quarterly Dividend From $0.52/Share To $0.54/Share

Farmland Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FPI#NYSE">FPI</a>) reported quarterly earnings of $0.01 per share which met the analyst consensus estimate. The company reported quarterly sales of $11.445 million which missed the analyst consensus estimate of $11.895 million by 3.78 percent. This is a 1.20 percent decrease over sales of $11.584 million the same period last year.

First Trust Advantage Preferred Income Fund

Farmland Partners Q2 2024 AFFO $0.01, Inline, Sales $11.445M Miss $11.895M Estimate

As previously referenced in the Company&#39;s Form 10-Q for the quarter ended March 31, 2024, the Company received an internal complaint that raised a potential concern related to one of its employees.
As a result of the investigation, the Company&#39;s Board of Directors determined Company policy was violated regarding the hiring of the former Chief Information Officer of the U.S. Army. As such, the hired individual, who led the company&#39;s public sector thought leadership and business development efforts since March 2023, departed the company.
In addition, the Company and CJ Desai, President and Chief Operating Officer, came to a mutual agreement that Desai would resign from all positions with the Company effective immediately. The company believes this was an isolated incident.

Management

ServiceNow Shares Update On Leadership Transition; CJ Desai, President And COO, Departs Company

Raymond James Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>) reported quarterly earnings of $2.39 per share which beat the analyst consensus estimate of $2.32 by 3.02 percent. The company reported quarterly sales of $3.230 billion which missed the analyst consensus estimate of $3.244 billion by 0.42 percent. This is a 11.00 percent increase over sales of $2.910 billion the same period last year.

Earnings Beats

Raymond James Finl Q3 2024 Adj EPS $2.39 Beats $2.32 Estimate, Sales $3.230B Miss $3.244B Estimate

Buybacks

Chipotle Mexican Grill Authorized Repurchases Of Common Stock With A Total Aggregate Purchase Price Of $400M, Exclusive Of Commissions; Repurchase Authorization Is In Addition To Previously Announced Repurchase Authorizations

WIIM

IBM shares are trading higher following strong Q2 earnings.

SouthState (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NASDAQ">SSB</a>) reported quarterly earnings of $1.79 per share which beat the analyst consensus estimate of $1.54 by 16.23 percent. The company reported quarterly sales of $425.00 million which beat the analyst consensus estimate of $418.08 million by 1.66 percent. This is a 3.18 percent decrease over sales of $438.96 million the same period last year.

SouthState Q2 2024 Adj EPS $1.79 Beats $1.54 Estimate, Sales $425.00M Beat $418.08M Estimate

Graco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGG#NYSE">GGG</a>) reported quarterly earnings of $0.77 per share which beat the analyst consensus estimate of $0.76 by 1.32 percent. This is a 2.67 percent increase over earnings of $0.75 per share from the same period last year. The company reported quarterly sales of $553.243 million which missed the analyst consensus estimate of $563.105 million by 1.75 percent. This is a 1.14 percent decrease over sales of $559.644 million the same period last year.

Graco Q2 2024 Adj EPS $0.77 Beats $0.76 Estimate, Sales $553.243M Miss $563.105M Estimate

Guidance

Ford Says 'Outlooks for full-year EBIT are up for Ford Pro, to $9.0 billion to $10.0 billion, on further growth and favorable product mix, and down for Ford Blue, to $6.0 billion to $6.5 billion, reflecting higher warranty costs than originally planned.'

KLAC

KLA Sees Q1 2025 Adj. EPS $7.00 ± $0.60 Vs $6.15 Est.; Revenue $2.75B ± $150M Vs $2.519B Est.

Outlook
For 2024, management is anticipating the following:
<ul>
<li>Full year comparable restaurant sales growth in the mid to high-single digit range</li>
<li>285 to 315 new restaurant openings with over 80% having a Chipotlane
<ul>
<li>An estimated underlying effective full year tax rate between 25% and 27% before discrete items</li>
</ul>
</li>
</ul>

Chipotle Mexican Grill Sees FY24 Comparable Restaurant Sales Growth In The Mid To High-Single Digit Range; 285-315 New Restaurant Openings With Over 80% Having A ChipotLane; An Estimated Underlying Effective Full Year Tax Rate Between 25%-27% Before Discrete Items

Cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) has acknowledged that a bug in its safety mechanism caused last week's <a target="_blank" href="https://www.benzinga.com/trading-ideas/24/07/39903295/how-a-faulty-cybersecurity-update-from-crowdstrike-unleashed-chaos-on-global-infrastructure-while-m" rel="noreferrer noopener">massive global IT outages</a>.
The issue stemmed from a <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39871636/crowdstrike-issues-statement-following-massive-outage-that-stemmed-from-content-update-for-windo" rel="noreferrer noopener">flawed data update</a> that led to widespread disruptions, affecting Microsoft Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Windows systems worldwide, reported Bloomberg.
This incident impacted crucial operations in <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39854612/windows-pcs-crash-worldwide-with-users-experiencing-blue-screen-of-death-issue-crowdstrike-updat" rel="noreferrer noopener">airlines, banking, and stock exchanges</a> across multiple countries.
Systems were compromised for hours, leaving bankers in Hong Kong, doctors in the U.K., and emergency responders in New Hampshire unable to access vital programs.
Microsoft stated that over <a target="_blank" href="https://www.benzinga.com/news/24/07/39873706/crowdstrike-outage-impacted-less-than-1-of-windows-devices-but-still-managed-to-wreak-havoc-report" rel="noreferrer noopener">8.5 million Windows users were affected</a>. Although fixes were deployed and many systems have been restored, the incident's scale was unprecedented.
According to CrowdStrike's preliminary post-incident review, an error in a Rapid Response Content configuration update went undetected, causing widespread crashes.
The company regularly issues these updates to enhance security measures against malicious activities based on customer policy configurations.
CrowdStrike plans to improve testing of Rapid Response Content by implementing a new check to fix the faulty Content Validator.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39897409/cathie-woods-ark-invest-snaps-up-5-3m-in-beaten-down-crowdstrike-shares-dumps-3-7m-worth-of-tesl" rel="noreferrer noopener">Cathie Wood's Ark Invest Snaps Up $5.3M In Beaten-Down Crowdstrike Shares</a>
Additionally, the company will adopt staggered, canary deployments to test updates incrementally before a full rollout. Customers will also have more control over the timing and location of future updates.
Following the outage, CrowdStrike's shares plummeted nearly 30%, significantly reducing its market value. The U.S. House Committee on Homeland Security has <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39897729/crowdstrike-ceo-george-kurtz-to-testify-before-congress-on-faulty-update-causing-global-disrupti" rel="noreferrer noopener">summoned CEO George Kurtz to explain</a> how the company will prevent similar incidents in the future.
The tech outage could cost over $1 billion, but who will <a target="_blank" href="https://www.benzinga.com/news/24/07/39879895/if-youre-a-lawyer-for-crowdstrike-youre-probably-not-going-to-enjoy-the-rest-of-your-summer-say-dan" rel="noreferrer noopener">foot the bill</a> remains unanswered.
Rosenblatt analyst Catharine Trebnick reiterated a Buy rating on the shares and lowered the price target by 16% from $420 to $350.
The faulty software update has led the analyst to revise the estimate for FY25 and FY26 as the analyst notes that despite the company's swift response and deployment of a fix, the incident's unprecedented scale and disruption across critical industries will undoubtedly have short-term repercussions.
The analyst sees FY25 revenue of $3.956 billion (previously $4.000 billion), EPS of $3.90 (Previously $4.03) and FY26 revenue of $4.986 billion (previously $5.016 billion), EPS of $4.75 (previously $4.92).
The shift of resources to customer support and remediation will end in delays in new customer acquisitions and elongated sales cycles, says the analyst.
The analyst expects operational expenses to rise due to remediation efforts, including seeking assistance from Deloitte to address issues with affected companies like Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Marriott International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>).
Price Action: CRWD shares closed lower by 3.99% at $258.14 on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39886199/crowdstrike-faces-downgrades-amid-concerns-over-pricing-and-renewals-following-disruption" target="_blank" rel="noreferrer noopener">CrowdStrike Faces Downgrades Amid Concerns Over Pricing and Renewals Following Disruption</a></li>
</ul>
Photo via Shutterstock

Movers

Tech

CRWD

MSFT

CrowdStrike Admits Bug Caused Massive Global IT Outages

ServiceNow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) reported quarterly earnings of $3.13 per share which beat the analyst consensus estimate of $2.84 by 10.21 percent. This is a 32.07 percent increase over earnings of $2.37 per share from the same period last year. The company reported quarterly sales of $2.627 billion which beat the analyst consensus estimate of $2.607 billion by 0.78 percent. This is a 22.19 percent increase over sales of $2.150 billion the same period last year.

ServiceNow Q2 2024 Adj EPS $3.13 Beats $2.84 Estimate, Sales $2.627B Beat $2.607B Estimate

Ameriprise Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>) reported quarterly earnings of $8.72 per share which beat the analyst consensus estimate of $8.53 by 2.23 percent.

Ameriprise Finl Q2 2024 Adj EPS $8.72 Beats $8.53 Estimate

Pegasystems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGA#NASDAQ">PEGA</a>) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.25 by 108 percent. The company reported quarterly sales of $351.15 million which beat the analyst consensus estimate of $321.94 million by 9.07 percent. This is a 17.73 percent increase over sales of $298.27 million the same period last year.

PEGA

Pegasystems Q2 2024 Adj EPS $0.52 Beats $0.25 Estimate, Sales $351.15M Beat $321.94M Estimate

Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) reported quarterly earnings of $0.34 per share which beat the analyst consensus estimate of $0.32 by 6.25 percent. This is a 36 percent increase over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $2.97 billion which beat the analyst consensus estimate of $2.94 billion by 1.12 percent. This is a 18.22 percent increase over sales of $2.51 billion the same period last year.

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Latest news for Evonik Indus (OTC:EVKIY) Stock