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Harley-Davidson Clocks 5% Revenue Growth In Q1; Margin Shrinks Due To Supply Chain Constraints

Harley-Davidson Inc (NYSE:HOG) reported first-quarter FY22 sales growth of 5% year-on-year to $1.49 billion. Revenue from the Motorcycles and Related Products segment (HDMC) was $1.3 billion, up 6% Y/Y. Harley-Davidson's EPS of $1.45 was in line with the analyst consensus. Revenue from Motorcycles increased 4%, Parts & Accessories rose 11%, Apparel climbed 2%,…

Benzinga

Indonesia's Cooking Oil Export Ban Pumps Up Palm, Soyabean Oil Prices

Palm oil jumped 10% while rival soybean oil hit a fresh record high as traders gear up Indonesia's export halt till the domestic cooking oil prices ease, Bloomberg reports. The policy has agitated the global $50 billion palm oil market as Indonesia initially said it would ban all exports of cooking…

Benzinga

Kellogg Sues British Government Over New Sugar Rules: Reuters

Kellogg Co (NYSE:K) is suing the British government over new rules stopping the display of its breakfast cereals in grocery stores due to high sugar content, Reuters reported. The company said the formula being used by the government to measure the nutritional value of cereals was wrong and not legally implemented. "It…

Benzinga

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Walmart+ Offers Fuel Discount To Members

Walmart Inc (NYSE:WMT) said members of its Walmart+ program would receive an instant discount of up to 10 cents on every gallon of fuel they purchase at participating fuel stations. Walmart+ fuel discount is available at more than 14,000 stations with the addition of 12,000 Exxon Mobil Corp (NYSE:XOM) Exxon and Mobil locations across the…

Benzinga

Analysts Share Their View On Activision Blizzard Post Q1 Performance

Analysts offered their views on Activision Blizzard, Inc (NASDAQ:ATVI) post Q1 FY22 results. Raymond James saw ATVI's Q1 results significantly below expectations, driven by continued weakness in Call of Duty and a low ebb of content in Blizzard. It continued to see sizable headwinds for Call of Duty through the rest of the year until the anticipated release…

Benzinga

Sherwin-Williams Posts Q1 Earnings Above Street View

Sherwin-Williams Co (NYSE:SHW) reported first-quarter FY22 sales growth of 7.4% year-on-year to $4.99 billion, beating the consensus of $4.91 billion. The increase in sales was driven by selling price increases in all segments and higher product sales volume in the Performance Coatings Group. Sales from stores in the U.S. and Canada rose 3.8%…

Benzinga

GE Stock Slides After Q1 Earnings, Warns On Inflation Pressure

General Electric Co (NYSE:GE) reported first-quarter FY22 adjusted revenue of $16.3 billion flat year-over-year and organic revenues of $16.43 billion, up 1% Y/Y. Total GAAP revenues were flat at $17.04 billion. Total orders increased by 11% Y/Y to $18.9 billion and +13% on an organic basis. Adjusted EPS was $0.24, an increase of…

Benzinga

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Biden Administration Reverses Trump's Effort To Open More Land For Oil Drilling In Arctic: CNBC

The Biden administration reversed a Trump administration plan that allowed the government to lease more than two-thirds of the country’s largest swath of public land to oil and gas drilling, writes CNBC. The Bureau of Land Management’s decision will shrink the amount of land available for lease in the National Petroleum Reserve in…

Benzinga

Whirlpool Shares Volatile Afterhours On Q1 Earnings Miss, Trimming FY22 Outlook

Whirlpool Corporation (NYSE:WHR) reported a first-quarter sales decline of 8.2% year-over-year to $4.92 billion, missing the consensus of $5.32 billion. Adjusted EPS was $5.31, missing the consensus of $5.36. Whirlpool states it recorded robust sales growth compared to pre-pandemic levels with healthy underlying consumer demand. Sales by region: North America $2.79 billon…

Benzinga

Remaking history: using Ancient Egyptian techniques, I made delicious olive oil at home – and you can too

In this series, academics explain the ways they are recreating historical practices, and how this impacts their research today.

The Conversation

Alibaba Continues Restructuring; CEO Daniel Zhang Steps Down From Tmall, Taobao

Alibaba Group Holding Ltd (NYSE:BABA) Chair and CEO Daniel Zhang stepped down as Chairman and General Manager of Zhejiang Tmall Technology Co., Ltd. and Taobao (China) Software Co., Ltd, the Pandaily reports. Trudy Dai will succeed Zhang. There are currently 16 companies under Zhang’s name, six of which he holds the position…

Benzinga

The Philippines may vote Bongbong Marcos into office, even though his parents stole billions from the country

On a plane stuffed with diamonds, art, gold and $1 million in cash, Imelda and Ferdinand Marcos fled the Philippines in disgrace. Three decades later, their son is set to become the country's next president.

ABC News

Vladimir Putin's nightmare scenario looks more likely as Finland and Sweden consider NATO membership

A seismic shift has taken place in Finland since the invasion of Ukraine, which could lead to it possibly joining NATO. It would deliver a significant blow to the Russian President by potentially bringing the West right to his doorstep.

ABC News

Boston Beer Down In Afterhours On Disappointing Q1 Results

Boston Beer Company Inc (NYSE:SAM) reported a first-quarter revenue decline of 21.1% year-over-year to $430.1 million, below the consensus of $447.88 million. EPS decreased to $(0.16), from $5.26 in 1Q21. Q1 depletions decreased by 7%, and shipments were down 25.1% compared to 1Q21. The gross margin declined by 560 bps to 40.2%.…

Benzinga

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Benzinga

MP Materials Begins Construction On Texas Factory; Inks Supply Deal With GM

Mp Materials Corp (NYSE:MP) has signed a definitive supply agreement with General Motor Co (NYSE:GM) to produce alloy and magnets for the automotive giant's EV programs. The financial terms were not disclosed. Under the long-term agreement, MP Materials will supply U.S.-sourced and manufactured rare earth materials, alloy, and finished magnets for the electric motors. MP Materials' Texas…

Benzinga

Why Are Xerox Shares Plunging Today

Xerox Holdings Corp (NASDAQ:XRX) reported a first-quarter FY22 sales decline of 2.5% year-on-year to $1.67 billion, beating the consensus of $1.64 billion. Equipment sales declined 17.6%, while Post sale revenue improved 1.9%. Sales in the Americas declined 0.5% Y/Y, and EMEA fell 5.6%. Gross margin contracted 390 basis points Y/Y to 31.8%. The…

Daily Mirror

Crocodile eats man who had waded out into the river to go for a wee

The local had been visiting family in a village in India when he was attacked by a large crocodile which grabbed him in its jaws and dragged him under water

Benzinga

Crypto Miner BitRiver Sanctioned By US Over Russian Operations: Bloomberg

The U.S. Treasury Department sanctioned crypto mining firm BitRiver, targeting one of the industry’s top data-center service providers over its operations in Russia, Bloomberg reported. The Swiss-based company BitRiver provides Bitcoin miners worldwide with energy sources, mining facilities, and large-scale management solutions, including those in Eastern Europe and Russia. Treasury announced…

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Benzinga

Boeing 787 Deliveries To Resume In 2H22: Reuters

Boeing Co (NYSE:BA) has informed key airlines and parts suppliers that 787 Dreamliner deliveries will begin in the second half of 2022, Reuters reported, citing three people familiar with the matter. Boeing's large 787 inventory, accumulated since deliveries were halted nearly a year ago due to structural issues, has locked up desperately…

Benzinga

Amazon Fires Up Rivalry With FedEx, UPS With Latest Launch

Amazon.com Inc (NASDAQ:AMZN) launched Buy with Prime, allowing third-party merchants to use Amazon’s vast shipping and logistics network to fulfill orders on their sites while appealing to Amazon’s Prime customers. Experts see the move firing up rivalry with United Parcel Service Inc (NYSE:UPS), FedEx Corp (NYSE:FDX), and the U.S. Postal Service as being the fastest in the online…

Benzinga

United Airlines Stock Flies On Q1 Earnings, Solid Q2 Guidance

United Airlines Holdings Inc (NASDAQ:UAL) reported a first-quarter operating revenue decline of 21% compared to 1Q19 to $7.6 billion, missing the consensus of $7.68 billion. Capacity down 19% compared to 1Q19. Cost Per Available Seat Mile (CASM) was up 21%, and CASM-ex3 was up 18%, compared to 1Q19. TRASM of down 3%…

Benzinga

Alcoa Shares Fall After Q1 Results Miss Revenue Expectations, Production Decrease

Alcoa Corp (NYSE:AA) reported first-quarter revenue growth of 14.7% year-over-year to $3.29 billion, missing the consensus of $3.44 billion. Adjusted EPS improved to $3.06, beating the consensus of $2.97. Adjusted EBITDA doubled to $1.07 billion (+105.8% Y/Y), and the margin expanded by 1,440 bps to 32.5%. Aluminum segment, revenue increased 3% sequentially due…

Benzinga

Kinder Morgan Q1 Results Beat Consensus, Raises Dividend By 3%

Kinder Morgan Inc (NYSE:KMI) reported that first-quarter FY22 revenue declined by 17.6% year-over-year to $4.29 billion, beating the consensus of $3.58 billion. The operating income fell by 45.7% Y/Y to $1.02 billion, and the margin declined by 1,234 bps to 23.8%. Adjusted EPS decreased to $0.32 from $0.60 in 1Q21, beating the…

Benzinga

Why Are Baker Hughes Shares Trading Lower Today

Baker Hughes Co (NASDAQ:BKR) reported first-quarter revenue growth of 1% year-over-year and a 12% decline sequentially to $4.84 billion, missing the consensus of $5.03 billion. Orders grew by 51% Y/Y to $6.84 billion and were up 3% sequentially. Baker recorded strong orders from TPS as the LNG order cycle continued to unfold. Revenues…

Benzinga

Biden To Announce New Military Package For Ukraine

Within the coming days, U.S. President Joe Biden is expected to announce another military aid package for Ukraine about the same size as the $800 million one last week, Reuters reported citing familiar sources. One U.S. official said a new package was expected that would be roughly the size of the previous…

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