Earnings reported after the bell Tuesday showed Advanced Micro
Devices, Akamai Technologies and Seagate Technology were among
companies reporting improved quarterly earnings despite headwinds
from the Covid-19 pandemic.
Earlier in the day, the pandemic led to a surge in demand for
Reckitt Benckiser Group's Lysol and 3M's N95 masks.
Earnings reported after the bell, at a glance:
Advanced Micro Devices Inc.: The chip company reported
second-quarter earnings that beat expectations and increased its
full-year forecast despite the COVID-19 pandemic.
Akamai Technologies Inc.: The company reported higher
second-quarter results, driven by its security solutions segment
amid the coronavirus pandemic.
Seagate Technology PLC: The company reported higher revenue for
the quarter and year ended in June, reflecting higher demand for
mass capacity storage, despite business disruption tied to the
Amgen Inc.: The biotechnology company said the Covid-19 pandemic
weighed on demand for a number of its therapies as patients weren't
able to visit doctors but newer products helped it deliver both
sales and volume growth.
Boyd Gaming Corp.: The casino operator said its second-quarter
net loss widened as it reopened properties at the end of the
quarter but visitation and revenues remain weak.
CH Robinson Worldwide: The largest freight broker in North
America beat second-quarter expectations despite coronavirus-driven
volatility that drove down pricing in its core truck brokerage
Container Store Group Inc.: The home-goods retailer said online
sales for its latest fiscal period almost tripled compared to the
same period last year as consumers opted for digital orders with
stores closed due to the Covid-19 pandemic and people in many parts
of the U.S. stuck at home.
Ebay Inc.: The commerce company said its second-quarter profit
and revenue picked up, reflecting stronger activity in the digital
marketplace during the quarter with many people stuck at home as
the coronavirus spread.
Equity Residential: The Chicago-based landlord said it collected
on average 97% of rents for the second quarter, a pace that comes
as the economy grapples with a recovery from coronavirus-related
shut downs earlier this year.
FireEye Inc.: The cybersecurity company's quarterly results and
outlook topped Wall Street estimates as demand for services
remained high during the Covid-19 pandemic.
Massachusetts Pension: Private-equity returns turned negative in
the second quarter for the Massachusetts state pension fund's
portfolio, reflecting the coronavirus pandemic's economic effects,
according to a presentation to executives who oversee the
Mondelēz International Inc.: The maker of Oreo cookies,
Toblerone chocolate and Ritz crackers said tough lockdowns to fight
the coronavirus in emerging markets have hurt sales of its cookies
Starbucks Corp.: The coffee giant reported its steepest earnings
per share losses in more than a decade as a result of lower sales
and higher costs stemming from the pandemic. Global same-store
sales plunged by 40% in the quarter ending in June, and the
Seattle-based chain reported a loss of $704 million, down around
17% from a year earlier.
Visa Inc.: The largest U.S. card network said a drop in payments
activity pushed its earnings down 23% in the quarter that ended in
June. Credit-card payments volume dropped 20%. Debit-card payments
volume rose 3%.
Earnings reported earlier Tuesday:
3M Co.: The U.S. maker of industrial, safety and consumer
products suffered a sharp sales drop while many factories, offices
and dentists remained closed, offsetting gains from high demand for
N95 masks and home-improvement supplies.
Aboitiz Equity Ventures: The Manila-based conglomerate's net
profit fell 63% in the second quarter from a year earlier as the
pandemic cut into demand for electricity at its power business.
Canon Inc.: The Japanese camera and electronics maker reported
an 80% drop in net profit for the first half of the year due to the
pandemic's impact on its businesses and a stronger Japanese
Card Factory PLC: The U.K. card, dressing and gift retailer said
its sales are exceeding the board's expectations now that all but
three of its stores have reopened following the easing of
coronavirus restrictions. Continued restrictions will hurt the
sales of wedding and party cards, the company said.
Centene Corp.: The company, the biggest U.S. provider of managed
Medicaid and ACA plans, said its profit and revenue rose for the
second quarter as shelter-in-place measures due to the Covid-19
pandemic led to fewer visits to the doctor for elective care, a
boost for the company.
Davide Campari-Milano SpA: The Italian maker of Campari and
Aperol said net profit and sales fell in the first half as core
markets suffered the effects of coronavirus.
Delivery Hero AG: The German company saw orders in the second
quarter almost double to 280.6 million from 144.2 million as the
pandemic lockdowns encouraged people to seek food deliveries.
"After an initial drop from March until May due to Covid-19,
Delivery Hero's order growth is back on track," the company said.
"Continuing at this pace, 2020 is set to be the first year in which
Delivery Hero will total more than one billion orders on its
Elementis PLC: The U.K. specialty-chemicals company swung to a
loss for the first half of the year, blaming the pandemic for a
significantly weak second quarter.
Endesa SA: The Spanish utility company, which is part of Enel
SpA, reported net profit and earnings rose in the first half of the
year. Endesa said it absorbed the majority of Covid-19-related
effects in the first half of the year and it doesn't expect a
further significant impact in the second half.
Fanuc Corp.: The world's largest industrial robot maker said its
first-quarter net profit fell 61% compared with the same period a
year earlier due to a challenging business environment amid the
pandemic and strained U.S.-China relations.
Foxtons Group PLC: The London estate agent reported a widened
pretax loss for the first half of the year on revenue that fell due
to the pandemic lockdowns.
Franklin Resources Inc.: The asset management behind Franklin
Templeton said investment-management fees slumped in its latest
quarter, a period marked by volatility in markets as the
coronavirus shut down economies.
Greggs PLC: The on-the-go food retailer swung to a pretax loss
in the first half of 2020 as the pandemic significantly hurt
revenue in the period but reported that sales have been recovering
Harley-Davidson Co.: The company said demand for its motorcycles
fell off in the second quarter as consumers pulled back on spending
due to coronavirus-related lockdowns that hit many of its key
Hoya Corp.: The Japanese optical products maker said its
first-quarter net profit fell 14% due to weaker sales of eyeglasses
and medical equipment amid the pandemic.
JetBlue Airways Corp.: The airline said its revenue for the
second quarter fell 90%, swinging to a loss, as bookings remained
choppy amid the pandemic despite an improvement in demand from
Kweichow Moutai Co.: The Chinese liquor maker's first-half net
profit climbed 13%, supported by a change in its product mix that
pushed overall revenue higher. Chinese distilled liquor, or Baijiu,
was among the first sectors to recover as China emerged from the
coronavirus pandemic in March. Higher sales helped Moutai's
first-quarter net profit grow 17%.
Laboratory Corp. of America Holdings: The provider of clinical
laboratory and end-to-end drug development services reported
second-quarter revenue that came in above analysts' estimates but
remains negatively affected by the pandemic.
Lamb Weston Holdings Inc.: The producer and distributor of
french fries and other potato products swung to a loss and posted
lower sales for the fiscal fourth quarter as shelter-in-place
measures due to the pandemic compressed demand for its products,
which are often served at restaurants.
Manila Electric Co.: The Philippine utility's first-half net
profit fell 43% on lower demand for electricity due to the Covid-19
McDonald's Corp.: The burger giant's profit suffered a
deeper-than-expected drop, as the coronavirus shut restaurants
around the globe and forced the chain to spend tens of millions of
dollars to help keep its franchisees operating.
Moncler SpA: The Milan-listed luxury retailer posted a loss in
the first half due to the pandemic.
Moneysupermarket.com Group PLC: The price-comparison website
said pretax profit slipped 15% in the first half of 2020 as
coronavirus related-disruption led to a fall in revenue, and it
expects to face more pressure in the second half.
Nissan Motor Co.: The Japanese auto maker swung to a net loss in
its first quarter as the pandemic hit global sales hard.
Peugeot SA: The French car maker's net profit in the first half
of 2020 slumped, while revenue fell as the coronavirus pandemic
dealt a heavy blow to the global auto industry. Peugeot expects the
automotive market in Europe to contract by 25% in 2020, with 30% in
Russia and Latin America, and 10% in China.
Pfizer Inc.: The pharmaceutical company reported growth in its
biopharma division in the latest quarter, but overall sales fell
amid increased competition in its generic-drug business.
Raytheon Technologies Corp.: The newly merged aerospace company
reported a loss for the second quarter as it booked impairment
charges, though sales rose 24%.
Reckitt Benckiser Group PLC: The British company's hygiene arm
rose more than 19% on a like-for-like basis from the year earlier.
The gain was driven by North America, where Lysol sales jumped over
Sabre Insurance Group PLC: The U.K. motor-insurance underwriter
reported a fall in pretax profit for the first half of the year and
said gross written premiums decreased as a consequence of
Samsung Electro-Mechanics Co.: The South Korean
electronics-parts supplier's second-quarter net profit slumped 85%
from a year earlier due to lower prices of multilayer ceramic
capacitors and weaker demand for mobile devices amid the
Samsung SDI Co.: The South Korean battery maker's second-quarter
net profit plunged 70% compared with the same period a year earlier
largely due to weaker demand for its products because of the
SJM Holdings Ltd.: The Hong Kong-based casino operator swung to
a loss in the first half as travel restrictions during the Covid-19
pandemic disrupted operations.
St. James's Place PLC: The FTSE 100 wealth-management business
posted a significant rise in net profit for the first half, with
the business remaining resilient amid the coronavirus pandemic, and
expects 2020 will be a year of major net inflows.
Travis Perkins PLC: The U.K. building-materials retailer said
its revenue and like-for-like sales fell in the first half of the
year in the wake of the coronavirus pandemic, but sales improved as
lockdown restrictions eased.
Trifast PLC: The U.K. engineering-and-manufacturing company said
the pandemic had a significant impact in the latter part of fiscal
2020 and into the first quarter of fiscal 2021, but that it
returned to underlying profitability in June.
Tyman PLC: The London-listed supplier of engineered components
and access solutions to the construction industry said that pretax
profit for the first half of 2020 rose after booking lower costs
and that it wasn't declaring an interim dividend due to uncertainty
stemming from the coronavirus pandemic.
UltraTech Cement Ltd.: The company's first-quarter net profit
fell 38% from a year earlier, as Covid-19 restrictions hurt the
company's business performance.
Vivo Energy PLC: The pan-African retailer and marketer of fuels
and lubricants reported significantly lower profit for the first
half of the year as restrictions in response to the pandemic hit
the company's volumes and margins. The group said it is encouraged
by improved trading in June and July but remains cautious about the
coronavirus and refused to give any guidance for the rest of
Xerox Holdings Corp.: The provider of office document machines
reported a better-than-expected profit for the latest quarter while
revenue fell 35% as the pandemic continued in the U.S.
Write to Shayna Sebold at email@example.com and Rose Manzo
(END) Dow Jones Newswires
July 28, 2020 19:30 ET (23:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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