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Campbell is buying Rao’s. Fans are worried, but the soup maker says it won’t touch the sauce

Published Mon, 23 Dec 2024 08:52:06 GMT

NEW YORK (AP) — Campbell Soup is set to buy Sovos Brands, the maker of Rao’s pasta sauces.In a Monday announcement, the two companies said they had entered an agreement for Campbell’s to acquire Sovos for $23 per share in cash — reflecting a total value of about $2.7 billion. The transaction will help diversify and strengthen Campbell’s Meals & Beverages division, Campbell’s President and CEO Mark Clouse said in a statement. “And paired with our faster-growing and differentiated Snacks division, (the Sovos portfolio) makes Campbell one of the most dependable, growth-oriented names in food,” he added.Besides its namesake soups, Campbells makes Prego sauce and Goldfish crackers.In addition to Rao’s sauces, Sovos products include dry pasta, soups, frozen entrees and yogurt under additional brands Michael Angelo’s and noosa. According to Monday’s press release, Rao’s is Sovos’ most popular brand, representing about 69% of the company’s $837 ...

Rapid7: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

BOSTON (AP) — BOSTON (AP) — Rapid7 Inc. (RPD) on Tuesday reported a loss of $66.8 million in its second quarter.The Boston-based company said it had a loss of $1.10 per share. Earnings, adjusted for stock option expense and asset impairment costs, came to 18 cents per share.The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.The cybersecurity company posted revenue of $190.4 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $188 million.For the current quarter ending in September, Rapid7 expects its per-share earnings to range from 41 cents to 44 cents.The company said it expects revenue in the range of $196 million to $198 million for the fiscal third quarter.Rapid7 expects full-year earnings in the range of $1.23 to $1.29 per share, with revenue ranging from $771 million to $775 million._____This story was generated by A...

Iovance Biotherapeutics: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

SAN CARLOS, Calif. (AP) — SAN CARLOS, Calif. (AP) — Iovance Biotherapeutics Inc. (IOVA) on Tuesday reported a loss of $106.5 million in its second quarter.On a per-share basis, the San Carlos, California-based company said it had a loss of 47 cents.The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 81 cents per share.The biotechnology company posted revenue of $238,000 in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $6 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IOVA at https://www.zacks.com/ap/IOVASource

FleetCor Technologies: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

ATLANTA (AP) — ATLANTA (AP) — FleetCor Technologies Inc. (FLT) on Tuesday reported second-quarter profit of $239.7 million.On a per-share basis, the Atlanta-based company said it had profit of $3.20. Earnings, adjusted for one-time gains and costs, were $4.19 per share.The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.18 per share.The provider of fuel card and payment products for businesses posted revenue of $948.2 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $945.2 million.For the current quarter ending in September, FleetCor Technologies expects its per-share earnings to range from $4.44 to $4.64.The company said it expects revenue in the range of $980 million to $1 billion for the fiscal third quarter.FleetCor Technologies expects full-year earnings in the range of $17.09 to $17.35 per share, with revenue ranging from $3.84 billio...

SLR Investment: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

NEW YORK (AP) — NEW YORK (AP) — SLR Investment Corp. (SLRC) on Tuesday reported second-quarter profit of $19 million.On a per-share basis, the New York-based company said it had profit of 35 cents. Earnings, adjusted for investment costs, came to 42 cents per share.The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 42 cents per share.The business development company posted revenue of $56.3 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $54.8 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLRC at https://www.zacks.com/ap/SLRCSource

Jamf Holding: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Jamf Holding Corp. (JAMF) on Tuesday reported a loss of $36.2 million in its second quarter.The Minneapolis-based company said it had a loss of 29 cents per share. Earnings, adjusted for one-time gains and costs, came to 5 cents per share.The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.The company posted revenue of $135.1 million in the period.For the current quarter ending in September, Jamf Holding said it expects revenue in the range of $139 million to $141 million.The company expects full-year revenue in the range of $555 million to $558 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on JAMF at https://www.zacks.com/ap/JAMFSource

Health Catalyst: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

SOUTH JORDAN, Utah (AP) — SOUTH JORDAN, Utah (AP) — Health Catalyst Inc. (HCAT) on Tuesday reported a loss of $32.6 million in its second quarter.On a per-share basis, the South Jordan, Utah-based company said it had a loss of 58 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 5 cents per share.The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.The provider of data analytics for the health care industry posted revenue of $73.2 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $72.7 million.For the current quarter ending in September, Health Catalyst said it expects revenue in the range of $70.2 million to $74.2 million.The company expects full-year revenue in the range of $290.5 million to $295.5 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using ...

Column: New PGA Tour model caters to big performances, not just big names

Published Mon, 23 Dec 2024 08:52:06 GMT

MEMPHIS, Tenn. (AP) — The poster in the Memphis International Airport declares that “the playoffs start here,” except that it includes a picture of Justin Thomas. He only wishes he were here.That speaks to the meritocracy in golf, and that’s not going away.Neither is privilege, which is why Thomas should only be fretting about a spot on the Ryder Cup team, not whether there will be room for him at Riviera and Quail Hollow.Thomas and Adam Scott are among six players who were in the FedEx Cup finale at East Lake last year and didn’t even make it to the starting line for the playoff opener at TPC Southwind, now for the top 70 players instead of the top 125. Scott had never missed the PGA Tour’s postseason since the FedEx Cup began in 2007.So the notion the new model for the PGA Tour is built around big-money tournaments that cater only to the big names in golf is missing a key element: It still requires good golf.Good golf came from Canadian Open champion Nick T...

2U: Q2 Earnings Snapshot

Published Mon, 23 Dec 2024 08:52:06 GMT

LANHAM, Md. (AP) — LANHAM, Md. (AP) — 2U Inc. (TWOU) on Tuesday reported a loss of $173.7 million in its second quarter.On a per-share basis, the Lanham, Maryland-based company said it had a loss of $2.16. Losses, adjusted for asset impairment costs and stock option expense, came to 18 cents per share.The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.The online education services provider posted revenue of $222.1 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $233.7 million.2U expects full-year revenue in the range of $985 million to $995 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWOU at https://www.zacks.com/ap/TWOUSource

How long would it take to save up for a house in Denver?

Published Mon, 23 Dec 2024 08:52:06 GMT

DENVER (KDVR) -- It would take the average Colorado renter well over a decade to be able to afford the first years' worth of homeownership costs, according to a new report. Point2Homes analyzed the costs of homeownership and income levels in the 100 largest U.S. cities to see how possible homeownership is across the country. Depending on the city, homeowners can expect to pay anywhere between $25,000 and $390,000 in their first year. Colorado hit hardest by restaurant inflation Denver ranks 22nd among the nation's 100 largest cities for the amount of money a homeowner needs to drop in the first year. In the Mile High City, a new homebuyer needs to spend $169,253 in the first year alone. This includes a 20% down payment, closing costs, annual mortgage, annual homeowners' insurance and annual property taxes. Even with one of the highest renter incomes in the country, Denverites will take over a decade to save that much. With a median renter income of $65,673, it would take 12.9 yea...