EDINBURGH WORLDWIDE INVES by Edinburgh Worldwide Investment Trust plc Stock (OTC: EWIIF)

Latest news for EDINBURGH WORLDWIDE INVES by Edinburgh Worldwide Investment Trust plc (OTC:EWIIF) Stock

EDINBURGH WORLDWIDE INVES by Edinburgh Worldwide Investment Trust plc

Flowserve Corporation ("Flowserve") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>), a leading provider of flow control products and services for the global infrastructure markets, has acquired the intellectual property and in-process R&amp;D related to cryogenic Liquefied Natural Gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions, Inc. ("NexGen Cryo"), a privately held, Arizona-based company specialized in the engineering, design and testing of LNG pumps and turbines.
Transaction Details The technology acquisition closed during the third quarter of 2024. The purchase price and associated expenses are expected to reduce adjusted earnings per share by $0.05 in Flowserve's 2024 third quarter. NexGen Cryo's technology is now part of Flowserve's Pumps Division.
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Flowserve Acquires LNG Pumping Technology From NexGen Cryo; No Financial Terms Disclosed; The Purchase Price And Associated Expenses Are Expected To Reduce Adjusted EPS By $0.05 In Flowserve's 2024 Q3

WIIM

TSLA

Tesla shares are trading lower following mixed Q2 earnings. The company also said it expects 2024 vehicle volume growth lower than 2023.

News

Guidance

Seagate Tech Holdings Sees Q1 2025 Adj. EPS $1.40 ± $0.20 Vs $0.75 Est.; Revenue $2.10B ± $150M Vs $1.877B Est.

Verastem Oncology, (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>), a biopharmaceutical company committed to advancing new medicines for patients with cancer, today announced that it intends to offer and sell shares of its common stock and accompanying warrants to purchase shares of common stock, as well as pre-funded warrants to purchase common stock in lieu of common stock for certain investors and accompanying warrants to purchase shares of common stock, in an underwritten public offering. The pre-funded warrants will be issued to certain investors who have elected to purchase them in lieu of shares of common stock in this offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the securities to be sold in the offering are to be sold by Verastem Oncology.
Guggenheim Securities and Cantor are acting as joint book-running managers for the proposed offering.

Offerings

VSTM

Verastem Oncology Announces Proposed Public Offering Of Common Stock, Warrants And Pre-Funded Warrants; No Size Or Amount Disclosed

On Tuesday, Quest Diagnostics Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) posted second-quarter adjusted EPS of $2.35, beating the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">consensus of $2.34</a>.
Sales increased 2.5% year-over-year to $2.39 billion, almost in line with the <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39903596/ups-q2-earnings-revenue-and-eps-miss-annual-outlook-cut-restarts-stock-buyback" rel="noreferrer noopener">consensus of $2.39 billion</a>.
&#8220;We delivered another strong quarter, with base business revenue growth of nearly 4% and total revenue growth of 2.5%, as well as continued improvement in productivity and profitability in the base business,&#8221; said Jim Davis, Chairman, CEO, and president. 
&#8220;This performance is due to growth of new physician and hospital customers, more favorable test mix that includes greater adoption of advanced diagnostics and continued strength in healthcare utilization. We also made progress improving our operational quality and efficiency through greater use of automation and AI,&#8221; he added.
Adjusted operating income increased 2.1% to $398 million.
Outlook: Quest Diagnostics revised its fiscal year 2024 revenue guidance to $9.50 billion-$9.58 billion, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38385424/quest-diagnostics-says-sales-in-q1-increased-for-the-first-time-since-the-height-of" target="_blank" rel="noreferrer noopener">versus prior guidance</a> of $9.4 billion-$9.48 billion and consensus of $9.46 billion.
The company forecasts 2024 adjusted EPS of&nbsp;$8.80-$9.00 versus the prior&nbsp;guidance&nbsp;of&nbsp;$8.72-$8.97&nbsp;and consensus of&nbsp;$8.86.
William Blair notes that total base revenue for the second quarter increased about 4%, closely aligning with the estimated 3.7%. Management highlighted sustained strength in healthcare utilization as a key factor, noting this positive trend has lasted longer than anticipated.
Additionally, growth was supported by the addition of new physician and hospital customers and greater adoption of advanced diagnostics, resulting in a more favorable revenue mix.
The analyst considers Quest&#8217;s recent results solid, with key metrics meeting or slightly exceeding expectations. The full-year forecast has improved slightly more than anticipated, and operating margins are rising from earlier lows. This performance is likely to keep the stock stable.
Looking ahead, William Blair sees potential for modest growth in the latter half of the year, with the company poised for high-single-digit earnings growth in 2025. Quest is well-positioned for consistent, predictable growth across different market cycles, with strategies in place to capitalize on trends in lab testing over the long term.
William Blair rates the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/DGX/analyst-ratings" rel="noreferrer noopener">stock as Outperform</a>.
Price Action: DGX shares are up 4.06% at $141.53 at the last check Tuesday.
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Photo: Shutterstock

Analyst Color

Earnings

Health Care

Reiteration

Analyst Ratings

Movers

Trading Ideas

General

Quest Diagnostics' Q2 Earnings Performance Suggests Stable Stock, Modest Growth Ahead, Analyst Says

CSGP

CoStar Expects Q3 Revenue Of $692M - $697M (Est $677.261M), Representing Revenue Growth Of 11% Y/Y At Midpoint

Company to present pooled data from the pivotal Phase 2 TRUST-I and TRUST-II studies at the European Society of Medical Oncology (ESMO) Congress 2024, which will support Nuvation Bio's New Drug Application (NDA) in the United States
Company to present data from the global, pivotal Phase 2 TRUST-II study at the 2024 World Conference on Lung Cancer (WCLC)
Taletrectinib granted Orphan Drug Designation by the U.S. Food and Drug Administration (FDA) for the treatment of ROS1-positive non-small cell lung cancer (NSCLC) and other NSCLC indications
Nuvation Bio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUVB#NYSE">NUVB</a>), a late clinical-stage, global biopharmaceutical company tackling some of the greatest unmet needs in oncology, today announced multiple updates for its taletrectinib program. Data from the global, pivotal Phase 2 TRUST-II study has been accepted for an oral presentation at WCLC 2024 taking place September 7-10 in San Diego, California. Pooled data from both pivotal Phase 2 studies, TRUST-I and TRUST-II, has been accepted for a poster presentation at ESMO 2024 taking place September 13-17, in Barcelona, Spain. The pooled data presented at ESMO will support the Company's NDA in the United States. Additionally, the U.S. FDA has granted Orphan Drug Designation to taletrectinib for the treatment of multiple NSCLC indications, including ROS1-positive NSCLC.

Biotech

NUVB

Nuvation Bio Announces Updates And Upcoming Presentations For Its ROS1 Inhibitor, Taletrectinib

East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) reported quarterly earnings of $2.07 per share which beat the analyst consensus estimate of $1.97 by 5.08 percent. The company reported quarterly sales of $553.229 million which missed the analyst consensus estimate of $554.958 million by 0.31 percent. This is a 2.39 percent decrease over sales of $566.746 million the same period last year.

Earnings Beats

Earnings Misses

EWBC

East West Bancorp Q2 2024 Adj EPS $2.07 Beats $1.97 Estimate, Sales $553.229M Miss $554.958M Estimate

Vicor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) reported quarterly losses of $(0.03) per share which missed the analyst consensus estimate of $0.05 by 160 percent. This is a 107.89 percent decrease over earnings of $0.38 per share from the same period last year. The company reported quarterly sales of $85.854 million which beat the analyst consensus estimate of $81.767 million by 5.00 percent. This is a 19.57 percent decrease over sales of $106.747 million the same period last year.

VICR

Vicor Q2 2024 GAAP EPS $(0.03) Misses $0.05 Estimate, Sales $85.854M Beat $81.767M Estimate

Euroseas Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESEA#NASDAQ">ESEA</a>, the "Company" or "Euroseas")))), an owner and operator of container carrier vessels and provider of seaborne transportation for containerized cargoes, announced today a new time charter contract for its 1,740 feeder containership, EM Spetses, for a minimum period of 18 to a maximum period of 20 months at the option of the charterer, at a gross daily rate of $18,100. The charter for EM Spetses will commence in early August 2024, upon the completion of its current charter.

Contracts

ESEA

Euroseas Announces 18-Month Charter Contract For Its Feeder Containership, EM Spetses, At A Gross Daily Rate Of $18,100

Canadian National Railway Q2 Adj. EPS C$1.84 Up From C$1.76 YoY; Revenue C$4.329B Up From C$4.057B YoY

Tesla Says 'Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.'

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCBC#NASDAQ">FCBC</a>) reported quarterly earnings of $0.79 per share which beat the analyst consensus estimate of $0.63 by 25.4 percent. This is a 12.86 percent increase over earnings of $0.70 per share from the same period last year.

FCBC

First Community Q2 Adj $0.79 Beats $0.63 Estimate

Tesla shares are trading lower following Q2 earnings.

Red Rock Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>) reported quarterly earnings of $0.59 per share which missed the analyst consensus estimate of $0.66 by 10.61 percent. This is a 9.23 percent decrease over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $486.40 million which beat the analyst consensus estimate of $475.59 million by 2.27 percent. This is a 16.89 percent increase over sales of $416.13 million the same period last year.

Red Rock Resorts Q2 Adj $0.59 Misses $0.66 Estimate, Sales $486.40M Beat $475.59M Estimate

Tesla Says Q2 Revenue Increase Was Due To energy Generation And Storage Growth, Cybertruck Deliveries And Higher Regulatory Growth Revenue

Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) reported quarterly Adjusted FFO of $1.04 per share which beat the analyst consensus estimate of $1.02 by 1.96 percent. This is a 6.12 percent increase over earnings of $0.98 per share from the same period last year. The company reported quarterly sales of $152.575 million which beat the analyst consensus estimate of $147.854 million by 3.19 percent. This is a 17.46 percent increase over sales of $129.900 million the same period last year.

Agree Realty Q2 2024 Adjusted FFO $1.04 Beats $1.02 Estimate, Sales $152.575M Beat $147.854M Estimate

Highwoods Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.90 by 8.89 percent. The company reported quarterly sales of $204.73 million which missed the analyst consensus estimate of $205.07 million by 0.16 percent. This is a 1.24 percent decrease over sales of $207.29 million the same period last year.

Highwoods Props Q2 2024 FFO $0.98 Beats $0.90 Estimate, Sales $204.73M Miss $205.07M Estimate

Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) reported quarterly earnings of $2.42 per share which met the analyst consensus estimate. The company reported quarterly sales of $8.90 billion which missed the analyst consensus estimate of $8.92 billion by 0.18 percent. This is a 9.57 percent increase over sales of $8.12 billion the same period last year.

Visa Q3 2024 GAAP EPS $2.42, Inline, Sales $8.90B Miss $8.92B Estimate

Capital One Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) reported quarterly earnings of $3.14 per share which missed the analyst consensus estimate of $3.29 by 4.56 percent. This is a 10.8 percent decrease over earnings of $3.52 per share from the same period last year. The company reported quarterly sales of $9.51 billion which missed the analyst consensus estimate of $9.57 billion by 0.67 percent. This is a 5.48 percent increase over sales of $9.01 billion the same period last year.

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EDINBURGH WORLDWIDE INVES by Edinburgh Worldwide Investment Trust plc

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Latest news for EDINBURGH WORLDWIDE INVES by Edinburgh Worldwide Investment Trust plc (OTC:EWIIF) Stock