U.S. markets open in 2 hours 36 minutes

Viav Solutions: Fiscal 3Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Viavi Solutions Inc. (VIAV) on Wednesday reported a loss of $32.8 million in its fiscal third quarter.

On a per-share basis, the San Jose, California-based company said it had a loss of 14 cents. Earnings, adjusted for one-time gains and costs, came to 14 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The communications equipment company posted revenue of $256.2 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $278.1 million.

Viav Solutions shares have dropped 21% since the beginning of the year.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VIAV at https://www.zacks.com/ap/VIAV

  • 68% of Buffett's Portfolio Is in These 4 Stocks
    Business
    Motley Fool

    68% of Buffett's Portfolio Is in These 4 Stocks

    Bank of America: $21.7 billion Considering that the banking industry is Buffett's hands-down favorite, it should come as no surprise that Bank of America (NYSE: BAC) accounts for 11% of Berkshire Hathaway's invested assets. Bank of America is the prototypical Buffett investment, in that it was undertaken during a period in which Wall Street and investors were fearful and the Oracle of Omaha had cash to invest. Today, BofA looks nothing like the mess it was when Buffett first invested $5 billion in preferred shares.

  • Dow Jones Futures Jump; Five Titans Near Buy Points In Coronavirus Stock Market Rally
    Business
    Investor's Business Daily

    Dow Jones Futures Jump; Five Titans Near Buy Points In Coronavirus Stock Market Rally

    Dow Jones futures rose sharply early Tuesday morning, along with S&P 500 futures and Nasdaq futures, after U.S. markets were closed for Memorial Day. The coronavirus stock market rally powered ahead last week, with the Nasdaq nearing all-time highs and the S&P 500 closing in on a key level. Apple, Microsoft, Google parent Alphabet, Tesla and Advanced Micro Devices are all near buy points.

  • 3 Travel and Tourism Stocks Poised for a Bull Run
    Business
    Motley Fool

    3 Travel and Tourism Stocks Poised for a Bull Run

    Travel and tourism are arguably the hardest-hit sectors of the economy during the coronavirus pandemic as governments around the world have instituted lockdowns and travel restrictions to slow the spread of the deadly infection. The first pick, Southwest Airlines (NYSE: LUV), is a bet on the resurgence of the U.S airline industry. While the other two, Carnival (NYSE: CCL) and Norwegian Cruise Line (NYSE: NCLH), are based on a rebound in cruise tourism. All three stocks are set to soar as the travel industry bounces back from the pandemic.

  • Why the stock market is outperforming the economy: Morning Brief
    Business
    Yahoo Finance

    Why the stock market is outperforming the economy: Morning Brief

    Tuesday, May 26, 2020 Corporate profits look better than expected, the economy looks worse than expected During the early days of the coronavirus pandemic, economic and market forecasters were flying blind. Accelerating numbers of confirmed COVID-19 cases along with sudden lockdowns around the globe made it impossible to estimate with any accuracy the kind of impact economies and businesses would see. As preliminary March data — which captured the earliest impacts of these lockdowns — started to trickle in, forecasters were quick to slash their expectations.

  • Airline Stocks Are Soaring: Should You Buy or Sell?
    Business
    Motley Fool

    Airline Stocks Are Soaring: Should You Buy or Sell?

    As a result, shares of major airlines like American Airlines (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and United Airlines (NASDAQ: UAL) have lost half to two-thirds of their value over the past three months. However, airline stocks bounced back in a big way this week, lifted by signs that travel demand is starting to recover. United Airlines shares led the way, surging 27.5%.

  • North Dakota Governor Breaks Down as He Calls Residents to Avoid ‘Mask Shaming’
    U.S.
    Meredith Videos

    North Dakota Governor Breaks Down as He Calls Residents to Avoid ‘Mask Shaming’

    The governor of North Dakota seemed on the verge of tears Friday, as he urged residents to be “empathetic” towards those who decide to wear face masks, noting that some people are far greater risk from COVID-19.

  • 7 “Perfect 10” Stocks to Buy Now
    Business
    TipRanks

    7 “Perfect 10” Stocks to Buy Now

    See the LLNW stock analysis. Krystal Biotech, Inc. KRYS) Using its STAR-D platform, Krystal Biotech develops and commercializes innovative therapies that target various dermatologic conditions.

  • 4 More Oil Stocks That Could Go Bankrupt in 2020
    Business
    Motley Fool

    4 More Oil Stocks That Could Go Bankrupt in 2020

    In the company's most recent quarterly report on May 18, management pretty much spelled out that it will struggle to meet the covenants it needs to preserve its credit facilities, and it has struggled to refinance much of its debt that will come due in 2021. In management's words: "There can be no assurances that the company will be able to successfully restructure its indebtedness, improve its financial position, or complete any strategic transaction." In addition, the company has said it has engaged consultants to look at financing alternatives.

  • Best Tech Stocks To Buy Or Watch Now: 5 Growth Stocks Leading The Stock Market
    Business
    Investor's Business Daily

    Best Tech Stocks To Buy Or Watch Now: 5 Growth Stocks Leading The Stock Market

    Whether it's a widely held name like Microsoft stock or a lesser-known name like Veeva Systems stock, the best tech stocks share many common traits. Fishing in the right pond means targeting top stocks showing resilience and holding near highs, especially during times like now when the stock market is in confirmed uptrend. The best tech stocks to buy or watch now include five top stocks in the software sector — Atlassian, Microsoft, Adobe, Veeva Systems and ServiceNow.

  • 3 Stocks to Buy and Hold for Decades
    U.S.
    Motley Fool

    3 Stocks to Buy and Hold for Decades

    Amazon's dominance should allow it to continue to grow over the long term, as more countries industrialize and more consumers switch to e-commerce. With the COVID-19 pandemic, the shift to online shopping has accelerated at an even faster pace. The company has even been hiring during the pandemic, with tens of thousands of openings even as jobs are being lost at a record pace in the U.S. Amazon has also committed to spending a whopping $4 billion on COVID-related expenses to stock up on personal protective equipment for its employees and conduct enhanced cleaning of its premises.

  • Tilray's CEO Expects at Least a Dozen Cannabis Bankruptcies in 2020 -- Is He Right?
    Business
    Motley Fool

    Tilray's CEO Expects at Least a Dozen Cannabis Bankruptcies in 2020 -- Is He Right?

    Canadian cannabis company Tilray's (NASDAQ: TLRY) CEO believes that at least 12 marijuana companies will go under this year. In March, Tilray announced that it would be raising $90.4 million through an offering, largely because the company still could. CEO Brendan Kennedy told BNN Bloomberg that he "wasn't sure anyone was going to be able to raise any money in this industry again" and that "when we had the opportunity to strengthen the balance sheet, we did."

  • The Bond Market Thinks It Knows What’s Coming Next From the Fed
    Business
    Bloomberg

    The Bond Market Thinks It Knows What’s Coming Next From the Fed

    Investors reckon it's lining up another one.The Fed's version of the strategy known as yield-curve control is expected to involve capping yields on government bonds of a chosen maturity -– by buying however much it takes. For central banks that already cut short-term interest rates to zero, it's a way to signal that they'll stay low for an extended period, while helping pin down longer-term borrowing costs too.Japan has been doing this for years, and Australia adopted the idea in March as the coronavirus struck. The Fed, which has responded to the pandemic by bulk-buying Treasuries and showering business and local government with credit, may not be ready to follow suit right now.

  • Why This Chinese E-Commerce Stock Is Skyrocketing While Other Chinese Tech Stocks Are Tanking
    Business
    Motley Fool

    Why This Chinese E-Commerce Stock Is Skyrocketing While Other Chinese Tech Stocks Are Tanking

    Pinduoduo makes most of its revenue from merchants that market on its site, not from transaction fees, and management decided to give many merchants a break on fees and logistics costs, especially small and medium-sized businesses. CEO Colin Huang explained: We proactively reduced advertising fees charged to merchants, provided incentives for those fulfilling orders during [the] outbreak, and directed free traffic to medical supplies and household items that our users needed the most while under quarantine. In addition, we subsidized medical products such as mask and disinfectant to help counter price spikes, due to the supply-demand imbalance.

  • Business
    Fox Business

    Elon Musk’s SpaceX is hiring: Take a look at some of the positions

    The position requires a bachelor's degree in electrical engineering, computer engineering or a similar degree and at least two years of professional experience, among other qualifications. Launch Build Reliability Engineer The launch build reliability engineer, located in Cape Canaveral, Fla. will “reliably launch astronauts and other payloads by ensuring vehicle, payload and spacecraft processing is efficiently designed and executed,” the posting said.

  • Japan’s Hottest Stock Is Tiny Maker of $40 Million Machines
    Business
    Bloomberg

    Japan’s Hottest Stock Is Tiny Maker of $40 Million Machines

    This year, it included a little-known Japanese company whose machines have become indispensable in the race to improve semiconductors and whose stock has been rocketing up as a result. Lasertec Corp. is the world's only maker of testing machines required to verify chip designs for the nascent extreme ultraviolet lithography (or EUV) method of chipmaking. In 2017, Lasertec solved a key piece of the EUV puzzle when it created a machine that can inspect blank EUV masks for internal flaws.

  • European Launch of Kylie Skin Boosts Coty Stock by 15%
    Business
    SmarterAnalyst

    European Launch of Kylie Skin Boosts Coty Stock by 15%

    Shares of Coty (COTY) rose by 15% on Friday to $3.85, after the company announced that its Kylie Skin products are now available at Douglas, a beauty retailer with around 2,400 locations across Europe. The announcement boosted Coty's valuation by a full $300 million. Douglas will offer six different products from the Kylie Skin line, including the Foaming Face Wash, Walnut Face Scrub, Face Moisturizer, Eye Cream, Vanilla Milk Toner and Vitamin C Serum.

  • President Trump Books Back-to-Back Memorial Day Appearances Despite Pandemic
    Politics
    Meredith Videos

    President Trump Books Back-to-Back Memorial Day Appearances Despite Pandemic

    President Donald Trump silently honored the nation's war dead Monday in a wreath ceremony at Arlington National Cemetery, first in a pair of public events also taking him to Baltimore, to the chagrin of the mayor.

  • Business
    Bloomberg

    O.J., Accounting Fraud, Icahn: The Story of Hertz Going Bust

    Enterprise Holdings Inc. and Avis Budget Group Inc. are suffering through the same Covid-19 drought, but Hertz's own bad decisions and hard luck made it vulnerable at the worst time. No telling of Hertz's history is complete without mention of perhaps the most disastrous end to a major celebrity-endorsement deal of all time. Hertz was owned by Ford in the summer of 1994 when police pursued O.J. Simpson in a white Bronco SUV for the murder of his ex-wife, Nicole Brown Simpson, and her friend Ron Goldman.

  • Chinese Companies Fleeing New York Will Find Warm Welcome at Home
    Business
    The Wall Street Journal

    Chinese Companies Fleeing New York Will Find Warm Welcome at Home

    U.S.-listed Chinese companies have an eye on the exit. With Hong Kong in turmoil, Shenzhen and Shanghai could also be beneficiaries.

  • Home loan rates below 3% have arrived, helped by Powell and the Fed
    Business
    MoneyWise

    Home loan rates below 3% have arrived, helped by Powell and the Fed

    And while the surveys indicate average rates on conventional home loans are getting nearer and nearer to the 3% mark, a major mortgage wholesaler has rolled out a conventional 30-year mortgage with a rate as low as 2.5%. All of this has been going on amid alarm bells from Federal Reserve Chairman Jerome Powell and steps by the Fed itself to bolster an economy ravaged by the coronavirus. Why rates are going through the floor Fed chief Powell has made a series of speeches and appearances warning that the COVID-19 pandemic is beating up the U.S. economy like nothing the country has seen in a long time.

  • Boeing Cuts 25% Of Its Workforce At Winnipeg Site; Top Analyst Slashes PT To $155
    Business
    SmarterAnalyst

    Boeing Cuts 25% Of Its Workforce At Winnipeg Site; Top Analyst Slashes PT To $155

    Boeing Co (BA) will lay off 400 employees at its aerospace manufacturing facility in Winnipeg as a result of the economic impact of the coronavirus pandemic. "Due to the impact of the COVID-19 pandemic, Boeing previously announced we would adjust the size of our company to reflect new market realities through a combination of voluntary layoffs, natural turnover and involuntary layoffs," Boeing spokeswoman Jessica Kowal said in a statement. Boeing Winnipeg, which employs 1,600 workers is one of the largest aerospace composite manufacturers in Canada.

  • Business
    Financial Times

    Hertz: collateral damage

    It isn't until the tide goes out, investor Warren Buffett once quipped, that you see who was swimming naked. Hertz is the latest name in corporate America caught skinny dipping. The US car rental company filed for Chapter 11 bankruptcy late on Friday night after the coronavirus pandemic crippled global travel and with it, demand for Hertz vehicles.

  • Hong Kong Finance Has a Security Blanket
    World
    Bloomberg

    Hong Kong Finance Has a Security Blanket

    U.S.-listed Chinese technology companies are lining up to sell stock in Hong Kong, seeking refuge from an environment that has become increasingly less hospitable. Nasdaq-traded JD.com Inc. and NetEase Inc. are planning secondary listings in the city next month, following a trail blazed by Alibaba Group Holding Ltd. in November.

  • 2 Dividend Stocks You Can Safely Hold for Decades
    Business
    Motley Fool

    2 Dividend Stocks You Can Safely Hold for Decades

    While it's not the end-all indicator of a company's staying power, a company that has consistently raised its dividend for decades is likely one that possesses a durable competitive advantage that allows it to grow its revenue and profits over time. Here are two stocks that have delivered a good balance of capital appreciation and rising dividend payments for more than 25 years. Walmart (NYSE: WMT) currently pays a dividend yield of 1.72%.

  • Latam Airlines Files For Chapter 11 Bankruptcy Protection In U.S.
    Business
    SmarterAnalyst

    Latam Airlines Files For Chapter 11 Bankruptcy Protection In U.S.

    Latam Airlines Group S.A. (LTM) and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection due to the impact of the coronavirus pandemic on the global aviation industry. The Latin American airline said that it has secured up to $900 million in financing from the Cueto and Amaro families and Qatar Airways, two of its largest shareholders. During the debt restructuring process, Latam and its affiliates will continue flying as conditions permit, the airline said.