…that the current quarter could be similarly impaired, as it forecast earnings in a range of a loss of 25 cents per share to a penny per share profit. The company did not offer guidance for the full year. Like other coal companies, Peabody has struggled amid stubbornly soft demand that has driven down coal prices as utilities turned to cheaper natural gas to generate electricity. But Peabody Energy Corporation (NYSE:BTU) has insisted there have been encouraging signs of recovery, including expectations of rising U.S. coal demand and Asian imports as natural gas prices tick up.
No NCE Decison For Amarin’s Vascepa: The Launch Trudges Along (Seeking Alpha)
It was another month, and another non-decision on the NCE status of Amarin Corporation plc (ADR) (NASDAQ:AMRN)’s Vascepa (icosapent ethyl), which is an unsurprising but significant short-term blow to investor sentiment. This was reflected quite well with the price action in AMRN last Friday, which was mildly bearish after the FDA updated the Orange Book for April. No NCE decision for Vascepa means no clarity on its actual period of drug exclusivity in the United States, and Amarin commentary suggests that a non-decision also interferes with the company’s potential to form partnerships with big pharma companies that could (and would) market Vascepa more effectively.
Cypress profit forecast misses estimates, shares fall (Yahoo! News)
Cypress Semiconductor Corporation (NASDAQ:CY), a maker of touch-sensing chips for cellphones, said it expected margins to shrink in the second-quarter and it forecast a profit that fell short of market expectations, sending its shares down 10 percent. The company, whose touch controllers are used in devices made by South Korea’s Samsung Electronics Co, said it expects a gross margin of about 51 percent in the second quarter, down 6 percentage points from a year earlier. Lower margins at its non-core emerging technologies business, whose products include remote temperature control devices, is expected to weigh on overall margins in the second quarter, a Cypress Semiconductor Corporation (NASDAQ:CY) executive said on a call with analysts.
Travelzoo notches sluggish growth, pins hopes on hotels (Skift)
Deal-site Travelzoo Inc. (NASDAQ:TZOO)’s largest business region is North America, where the company is feeling pressure as it continues to develop a hotel-booking platform. The company released its first quarter results today, and its operating profit in North America fell 22.5% to $5.5 million on a sluggish revenue increase of 5% to $30.2 million. “The decrease in operating profit was a result of increased expenses related to sales force expansion, hotel booking platform development, traffic acquisition and subscriber marketing,” Travelzoo Inc. (NASDAQ:TZOO) stated about its North America business.
Verizon Profit and Revenue Climb (New York Times)
Verizon Communications Inc. (NYSE:VZ) 0n Thursday reported a healthy profit, driven primarily by its booming wireless business, which brought in millions of smartphone sales and revenue from subscribers that just keeps growing. Net income in the first quarter rose 15.8 percent to $1.95 billion, or 68 cents a share, from the same quarter a year earlier, while revenue climbed 4.2 percent to $29.4 billion, the company said. The net income was above the expectations of Wall Street analysts. They had expected 66 cents a share and revenue of $28.2 billion, according to a survey of analysts by FactSet.
