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UPDATE: Teva stock tumbles premarket as earnings and guidance fall short of estimates

“Excluding impairment charges and restructuring costs, the company had adjusted per-share earnings of 53 cents, below the 55 cents FactSet consensus” writes Ciara Linnane for marketwatch.com. Teva Pharmaceutical Industries Ltd. shares TEVA, +1.59% tumbled 11% in premarket trade Wednesday, after the Israeli generics company missed earnings estimates for the fourth quarter and offered guidance that was also below consensus.The FactSet consensus is for EPS of $2.84 on revenue of $18.061 billion.The company is expecting full-year adjusted EPS of $2.20 to $2.50 on revenue of $17.0 billion to $17.4 billion. Source: marketwatch.com

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Teva stock tumbles premarket as earnings and guidance fall short of estimates

“Teva Pharmaceutical Industries Ltd. shares TEVA, +1.59% tumbled 9.8% in premarket trade Wednesday, after the Israeli generics company missed earnings estimates for the fourth quarter and offered guidance that was also below consensus” writes Ciara Linnane for marketwatch.com. Excluding impairment charges and restructuring costs, the company had adjusted per-share earnings of 53 cents, below the 55 cents FactSet consensus.The FactSet consensus is for EPS of $2.84 on revenue of $18.061 billion.The company is expecting full-year adjusted EPS of $2.20 to $2.50 on revenue of $17.0 billion to $17.4 billion. Source: marketwatch.com

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Bed Bath & Beyond downgraded to sell from hold by Loop Capital on ‘unrealistic’ guidance

“Bed Bath & Beyond Inc. stock BBBY, -0.19% was downgraded to sell from hold by Loop Capital on Monday with analysts saying its recent rise is unwarranted as guidance provided for fiscal 2019 is “unrealistic”” writes Ciara Linnane for marketwatch.com. Bed Bath & Beyond stock has gained 26% since the guidance was first offered, far outpacing the broader market indices.The stock was flat Monday, but has gained 36% in the last 12 months, while the S&P 500 SPX, +0.10% has gained 3.5%.Analyst Anthony Chukumba said management’s poor record of meeting…

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Struggling Nvidia shares ‘likely to remain hamstrung,’ Bernstein says in downgrade

“Following the company’s somewhat chilly guidance cut … we believe the shares are likely to remain hamstrung,” Bernstein analyst Stacy Rasgon said in a note to investors” writes Michael Sheetz for cnbc.com. Nvidia shares slid 1.4 percent in Monday’s premarket from Friday’s close of $148.17 a share.Ahead of earnings on Thursday, Nvidia cut its revenue guidance for the fiscal fourth quarter.Bernstein downgraded semiconductor stock Nvidia on Monday to market perform from outperform, saying the company is facing severe challenges to growth and “headline risk [is] likely to continue increasing.”.  Source:…

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Crypto News 

Maltese Financial Regulator Issues Cybersecurity Consultation for Blockchain Industry

“The Malta Financial Services Authority (MFSA) has issued a consultation on cybersecurity, associated with new technologies such as blockchain, the agency tweeted on Feb. 8” writes Helen Partz for cointelegraph.com. In a consultation document called “Guidance Notes on Cybersecurity,” the MFSA suggested that the agency’s cybersecurity system should comply with international standards, including guidelines by the European Banking Authority (EBA).The MFSA is seeking feedback from the industry community before proceeding with the adoption of the guidance notes.Malta has taken a supportive stance toward the blockchain and crypto industries, and even…

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Skechers surges 16% after ‘a year of record sales’ and strong guidance

“Additionally, Skechers reported fourth-quarter earnings of 31 cents a share, above analyst estimates of 23 cents a share” writes Michael Sheetz for cnbc.com. Skechers provided a first quarter 2019 earnings forecast of 70 cents a share to 75 cents a share, well above Wall Street’s expectation of 63 cents a share according to FactSet.Skechers stock rocketed 16 percent higher in premarket trading after the shoemaker gave strong profit guidance for the quarter ahead while reporting better-than-expected fourth-quarter earnings Thursday evening. “2018 was a year of record sales—our first fourth quarter…

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Markets News 

TUI shares dive after lowering profit guidance

“Shares in TUI AG (TUI1.XE) fell sharply in early trade Thursday after the travel group lowered its underlying earnings guidance for the year ahead” writes Adria Calatayud for marketwatch.com. The company said its new guidance is based on early predictions for margins in the summer of 2019 in its markets and airlines division.Bookings in TUI’s markets and airlines division for the summer 2019 program currently stand at 34%, broadly in line with the prior year, although at a lower margin. Source: marketwatch.com

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Tate & Lyle backs guidance, but sees softer EPS

“Tate & Lyle PLC (TATE.LN) said Thursday that group adjusted pretax profit in constant currency for the third quarter of fiscal 2019 was ahead of the year-earlier period and backed its full-year guidance” writes Oliver Griffin for marketwatch.com. The food ingredients company said its food-and-beverage solutions business performed well in the three months ended Dec. 31 and that adjusted operating profit in its sucralose business–which makes Splenda no-calorie sweetener–was ahead of the year-earlier period.The company said it backs guidance but expects earnings-per-share growth at the lower end of the mid-single-digit…

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IRobot stock surges 13% after earnings beat, strong guidance

“For fiscal 2019, iRobot said it expects earnings of $3 to $3.25 a share on sales of $1.28 billion to $1.31 billion” writes Tech Reporter for marketwatch.com. IRBT, +0.36% shares shot up more than 13% in the extended session Wednesday after the company beat Wall Street expectations for earnings and revenue, and issued better-than-expected guidance.For the first quarter, analysts model earnings of 63 cents on sales of $256 million; analysts expect full-year 2019 earnings of $2.88 a share and sales of $1.28 billion.Analysts surveyed by FactSet had estimated earnings of…

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SoftBank’s Vision Fund says that it sold its entire stake in Nvidia, which was worth $3.63B on December 31, in January

“Last week, Nvidia cut its revenue guidance for the fiscal fourth quarter citing “deteriorating macroeconomic conditions, particularly in China.”” writes Rick Wilking for cnbc.com. In January, Apple issued a rare cut in its revenue guidance citing weak demand from Chinese consumers.In its third-quarter earnings release on Wednesday, SoftBank said its fund, which invests in technology ventures, had “disposed its entire holding of Nvidia shares.”.  Source: cnbc.com

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