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Autodesk forecasts second-quarter profit below estimates

“Autodesk forecast second-quarter profit on Thursday below Wall Street expectations, sending the AutoCAD software maker’s shares down nearly 4 percent in extended trading” writes unknown author for cnbc.com. Autodesk forecast second-quarter adjusted profit between 13 cents and 16 cents per share. Excluding items, the company earned 6 cents per share, above estimates of 3 cents.Autodesk’s subscription revenue more than doubled to $350.4 million in the reported quarter, above estimates of $328.9 million.The company’s forecast overshadowed a beat on both first-quarter revenue and profit. Source: cnbc.com Share This:

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NetApp CEO Sees Room to Profit From the Cloud

“Though cloud giants aren’t major buyers of traditional enterprise storage systems such as NetApp’s (NTAP) , the company is intent on finding ways to profit from cloud adoption” writes Eric Jhonsa for thestreet.com. That would do much to offset the pressure that NetApp, like other enterprise hardware vendors, faces from companies choosing to put more of their workloads on public clouds. Source: thestreet.com Share This:

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Samsonite shares slump to 9-month low after being hit by a short-seller attack

“Blue Orca was launched earlier this month by Soren Aandahl, a Texas-based short-seller who previously co-founded Glaucus Research, which attracted attention for its attacks on several targets in Asia-Pacific” writes unknown author for cnbc.com. Among 14 analysts that cover Samsonite, the current average recommendation on the shares was “buy,” Thomson Reuters data showed. Source: cnbc.com Share This:

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Daily Mail & General Trust pretax profit jumps, but revenue falls

“Daily Mail & General Trust PLC (DMGT.LN) said Thursday that pretax profit in the first half of fiscal 2018 more than doubled, following a strong performance from its business-to-business operations” writes Oliver Griffin for marketwatch.com. The owner of the Daily Mail newspaper said profit before tax for the six months ended March 31 grew to 113.4 million pounds ($151.6 million) from GBP40.9 million in the year-earlier period.The company said its outlook for the full year is unchanged, with its B2B businesses expected to deliver underlying revenue growth in the low…

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Uber turned a profit thanks to its deals in Southeast Asia and Russia

“Uber gained $2.9 billion after it merged its businesses in Russia and Southeast Asia with local competitors” writes May Edt for recode.net. The big news is that Uber turned a profit: $2.5 billion, to be exact. As Khosrowshahi said at a recent summit, Uber is willing to “take short-term losses in order to bring long-term business.”.  Source: recode.net Share This:

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Target’s stock tumbles as profit miss offsets sales beat

“TGT, -5.51% tumbled 6.9% in premarket trade Wednesday, after the discount retailer reported a fiscal first-quarter profit that missed expectations, although sales beat” writes Reporter Editor for marketwatch.com. Looking ahead, Target expects second-quarter adjusted EPS of $1.30 to $1.50, surrounding the FactSet consensus of $1.35, and projects same-store sales growth in the low-to-mid single-digit percentage range, compared with expectations of a 1.9% rise. Source: marketwatch.com Share This:

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Target’s online push weighs on profit, shares tumble

“Target has said it plans $3 billion of capital expenditure this year on investments in its supply chain, online delivery, its own brands and merging online and in-store shopping” writes Midwest Communications Inc for 95kqds.com. Target has poured billions of dollars into investments aimed at boosting online sales.Excluding items, Minneapolis-based Target earned a profit of$1.32 per share in the quarter ended May 5, below the average analyst estimate of $1.39.The retailer’s price cuts and heavy investments to ward off competition from Amazon.com Inc and brick-and-mortar rivals continued to hurt profitability…

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HPE quarterly profit beats on demand for servers

“Hewlett Packard Enterprise reported a better-than-expected quarterly profit and raised its full-year earnings forecast on Tuesday, helped by higher demand for its servers, storage and networking equipment” writes Source Hewlett Packard for cnbc.com. Excluding items, the company reported earnings of 34 cents per share, above analysts’ expectation of 31 cents per share.The company had previously forecast profit of $1.35 to $1.45 per share.The company, created in 2015 from the breakup of Hewlett-Packard, said it now expects adjusted profit between $1.40 and $1.50 per share for 2018. Source: cnbc.com Share This:

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Britain’s M&S says must accelerate change or die

“After taking account of adjusted items of 514.1 million pounds, including the charge relating to store closures, pretax profit was 66.8 million pounds, a 62 percent fall” writes unknown author for cnbc.com. M&S, one of the best-known names in British retail, said it made a pretax profit before one-off items of 580.9 million pounds ($778.6 million) in the year to March 31.Britain’s Marks & Spencer said on Wednesday it urgently had to modernize or risk fading away as it reported a second straight decline in annual profit and booked a…

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