Earnings Roundup: LVS, S, CVS, EK, NEM, HSP
Wednesday, July 28, 2021 10:27 AM

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Las Vegas Sands Corp. (NYSE: LVS) on Wednesday reported a much narrower loss for the second quarter, helped by strong revenue growth and margin expansion. Net loss narrowed to $4.7 million or about 1 cent a share, from $222 million or 34 cents a share in the year-ago period. On an adjusted basis, the casino operator earned 17 cents a share in the latest quarter. Revenue jumped 50.6% to $1.59 billion. Analysts, on average, expected the company to report earnings of 9 cents per share on revenue of $1.61 billion. Shares of casino operator rallied 3.16% to $26.08 in morning trading.

Sprint Nextel Corp. (NYSE: S) said Wednesday that its second-quarter loss widened to $760 million, or 25 cents a share, from $384 million, or 13 cents a share, in the same quarter last year. On an adjusted basis, the company posted a second-quarter loss of 15 cents per share. Revenue dropped 1.4% to $8.03 billion.  Analysts, on average, expected the company to report a loss of 20 cents per share on revenue of $8.03 billion. Sprint gained a total of approximately 111,000 net subscribers in the quarter. Sprint shares surged 2.28% to $4.94 in Wednesday morning trading.

CVS Caremark Corp. (NYSE: CVS) said Wednesday that its second quarter net income fell slightly to $821 million, or 60 cents a share, from $886 million, or 60 cents a share, in the comparable period last year. Revenue slipped to $24.01 billion from $24.87 billion. On an adjusted basis, the company earned 65 cents a share. Analysts, on average, expected the company to report earnings of 67 cents a share on revenue of $24.21 billion.

Eastman Kodak Co. (NYSE: EK) reported Wednesday that its second-quarter loss from continuing operations narrowed to $167 million, or 62 cents a share, from $191 million, or 71 cents a share, in the prior-year quarter. On an adjusted basis, the company posted a loss of 51 cents a share in the latest quarter. Revenue dropped 11% to $1.569 billion from $1.766 billion.  Analysts, on average, expected the company to report a loss of 31 cents per share on revenue of $1.69 billion. Shares of the company plunged 7.91% to $4.54 in morning trading.

Newmont Mining Corp. (NYSE: NEM) reported Wednesday that its second-quarter net income climbed to $382 million, or 77 cents a share, from $162 million, or 33 cents a share, in the year-ago quarter. Revenue jumped 34% to $2.15 billion. Analysts, on average, expected the company to report earnings of 84 cents per share on revenue of $2.22 billion. Shares of the gold producer fell 1.20% to $55.11 in Wednesday morning trading.

Hospira Inc (NYSE: HSP) said Wednesday that its second-quarter net income rose to $83.5 million, or 49 cents per share, from $25.5 million, or 16 cents per share, in the year-earlier quarter. On an adjusted basis, the company earned 86 cents a share in the latest quarter. Revenue increased to $968.2 million from $956.9 million. Hospira shares tumbled 9.22% to $51.57 in morning trading.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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  • UConn beats West Virginia for first time Oct 30, 2021 12:21 AM

    • EAST HARTFORD, Conn. - Dave Teggart hit a 27-yard field goal in overtime Friday and Connecticut beat West Virginia 16-13, giving the Huskies their first win over the Mountaineers.
    • The winning score was set up when UConn linebacker Lawrence Wilson recovered the seventh fumble of the night for West Virginia (5-3, 1-2 Big East), which lost its second consecutive conference game.
    • West Virginia got the ball first in overtime and seemed headed for a score when Ryan Clarke fumbled a handoff at the 1-yard line and Wilson picked it up.
      • UConn beats West Virginia 16-13 in overtime Oct 30, 2021 12:16 AM

        • EAST HARTFORD, Conn. - Dave Teggart hit a 27-yard field goal in overtime Friday and Connecticut beat West Virginia 16-13, giving the Huskies their first win over the Mountaineers.
        • The winning score was set up when UConn linebacker Lawrence Wilson recovered the seventh fumble of the night for West Virginia (5-3, 1-2 Big East), which lost its second consecutive conference game.
        • West Virginia got the ball first in overtime and seemed headed for a score when Ryan Clarke fumbled a handoff at the 1-yard line and Wilson picked it up.
          • Storms crippling tsunami aid to Indonesia islands Oct 30, 2021 12:15 AM

            • MENTAWAI ISLANDS, Indonesia - A group of private aid workers battled fierce swells and driving rain that kept most craft on shore, managing to deliver food and other supplies to desperate survivors on the islands hardest hit by a tsunami that killed at least 413 people.
            • Government agencies pulled back boats and helicopters Friday that had been ferrying aid to the most distant corners of the Mentawai islands and resorted to air-dropping boxes of aid from planes.
            • Dozens of injured survivors of the tsunami, meanwhile, languished at an overwhelmed hospital.
              • APNewsBreak: Randy Travis and wife-manager divorce Oct 29, 2021 11:44 PM

                • NASHVILLE, Tenn. - Randy Travis and his wife-manager Elizabeth Travis have divorced.
                • No further details were given, but an earlier statement that the couple had "parted ways" said Elizabeth Travis would continue to be Travis' personal manager.
                • A petition for dissolution of marriage was filed by Randy Travis in Albuquerque, N.M., on Thursday.
                  • Protesters blame UN base for cholera in Haiti Oct 29, 2021 11:44 PM

                    • PORT-AU-PRINCE, Haiti - Hundreds of protesters who blame U.N. peacekeepers from Nepal for Haiti's widening cholera epidemic marched on a rural military base Friday to demand the soldiers leave the country.
                    • banners walked from the central plateau city of Mirebalais several miles to the gates of the base perched above a tributary of the Artibonite River - a waterway identified by health officials as a conduit for the infection.
                    • The protesters chanted "Like it or not, they must go" as the Nepalese soldiers and other U.N. peacekeepers remained inside.

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