High Margin Products Take A Hit
Scholastic lowered its guidance for the current fiscal year. It now expects to earn no more than $1.60 a share, compared with previous guidance of $2.20 to $2.40. Revenue will also miss expectations, but the real problem is that schools are spending less on high-margin products. SCHL craters by 21 percent before the bell on my tradeMONSTER platform
Deere Squeezed by Higher Costs
Deere reported fourth-quarter earnings of $1.75 a share well below the $1.88 average analyst estimate. Revenue beat expectations, but higher costs squeezed profits, and DE is lower by about 2.5 percent in the premarket.
Cirrus Logic Climbs on Buyback Plan
Cirrus Logic announced a $200 million stock buyback. That's about 10 percent of the company's market cap, and CRUS is popping by more than 6 percent before the bell.
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