Advanced Micro Devices (AMD) exploded on Wednesday after announcing it expects for 2020 revenue to grow about 32% from 2019 to roughly $8.88 billion.
Thats a respectable increase from initial guidance of $8.08 billion AMD had provided previously. Analysts were only looking for AMD 2020 revenue guidance of about $8.4 billion. AMD also earned an adjusted 18 cents on sales of $1.93 billion in its latest quarter. Analysts were only looking for 16 cents on sales of $1.86 billion.
delivered strong second quarter results, led by record notebook and server
processor sales as Ryzen and EPYC revenue more than doubled from a year ago,
said Dr. Lisa Su, AMD president and CEO. Despite some macroeconomic
uncertainty, we are raising our full-year revenue outlook as we enter our next
phase of growth driven by the acceleration of our business in multiple
Kodak (KODK) soared
more than 200% this week after President Trump announced
that, Our 33rd use of
the Defense Production Act will mobilize Kodak to make generic, active
pharmaceutical ingredients. In addition, Kodak said Tuesday it will produce
pharmaceutical components that have been identified as essential but have
lapsed into chronic national shortage, as defined by the Food and Drug
Administration, says CNBC.
Moderna Inc. (MRNA) is racing higher again, tacking on
$1.70 on news it just entered into a Phase 3 human trial for a COVID-19
the weekend, the company announced an additional round of funding from
Biomedical Advanced Research and Development Authority (BARDA), a department
under the U.S. Health and Human Services Department (HHS).
Rocketdyne Holdings Inc. (AJRD)
was up more than 17%, or $6.19 on the day after posting earnings. Q2 2020 was
a great quarter for Aerojet Rocketdyne, said Eileen Drake, CEO and President
of Aerojet Rocketdyne Holdings, Inc.
Sales in the
quarter were up 6% year over year primarily driven by growth in defense
programs, including GMLRS and MRBM. Margins in the quarter were a solid 14.9%,
reflecting a continued focus on strong program performance. In addition, the
company said, Backlog has once again reached an all-time high $6.8 billion
at quarter end. Included in our backlog was the NASA contract modification
award received in May to produce an additional 18 RS-25 engines in support of
deep space exploration missions. Free cash flow of $131.5 million was excellent
in the quarter, bringing year-to-date free cash generation to $111.4 million
compared with $24.3 million in the first six months of 2019.
(PFE)was up more than $1.50 on the week on anticipation of a
potential vaccine, and on earnings news and a better than expected outlook. According
to CNBC, he company reported adjusted earnings
of 78 cents per share during the three months ended June 30, higher than the 66
cents per share projected by analysts surveyed by Refinitiv. Revenue fell 11%
to $11.8 billion from $13.26 billion during the same quarter last year, but
Wall Street saw it as good news since it was more than the $11.5 billion
also raised its full-year outlook expecting to earn $2.85 to $2.95 a share from
a previous forecast of $2.82 to $2.92. It also expects to post revenue of $48.6
billion to $50.6 billion, which is up from previous guidance of $48.5 billion
to $50.5 billion.
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