Latest News for Travis Perkins Stock (OTC:TPRKY)

Travis Perkins

Travis Perkins PLC makes and sells products to the construction and home improvement industries in the United Kingdom. The company organizes itself in two segments: merchanting, which serves large trade customers with specialized needs; Toolstation, which provides power tools, hand tools, and electronic equipment to small trade builders and individuals. The majority of its revenue comes from the merchanting segment, and the majority of company sales are made by delivery.

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TRAVIS PERKINS S/ADR by Travis Perkins Plc

Travis Perkins PLC

Vicor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) reported quarterly earnings of $0.06 per share which met the analyst consensus estimate. This is a 76 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $83.872 million which missed the analyst consensus estimate of $84.833 million by 1.13 percent. This is a 14.26 percent decrease over sales of $97.816 million the same period last year.

Earnings

Earnings Misses

VICR

Vicor Q1 2024 GAAP EPS $0.06, Inline, Sales $83.872M Miss $84.833M Estimate

Guidance

Visa Currently Expects FY24 Net Revenue Growth In Low Double-Digit, EPS Growth In Low-Teens

Orrstown Finl Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORRF#NASDAQ">ORRF</a>) reported quarterly earnings of $0.88 per share which beat the analyst consensus estimate of $0.73 by 20.55 percent. The company reported quarterly sales of $26.881 million which beat the analyst consensus estimate of $25.804 million by 4.18 percent. This is a 2.23 percent increase over sales of $26.294 million the same period last year.

Earnings Beats

ORRF

Orrstown Finl Servs Q1 2024 Adj EPS $0.88 Beats $0.73 Estimate, Sales $26.881M Beat $25.804M Estimate

Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) reported quarterly earnings of $0.50 per share which missed the analyst consensus estimate of $0.51 by 1.96 percent. This is a 26.47 percent decrease over earnings of $0.68 per share from the same period last year. The company reported quarterly sales of $58.388 million which missed the analyst consensus estimate of $59.026 million by 1.08 percent. This is a 11.79 percent decrease over sales of $66.189 million the same period last year.

HAFC

Hanmi Financial Q1 2024 GAAP EPS $0.50 Misses $0.51 Estimate, Sales $58.388M Miss $59.026M Estimate

Dividends

OTIS

Otis Increases Dividend 14.7% To $0.39/Share

These initiatives are expected to be substantially completed by the end of the second quarter of 2024. As a result of this plan, the Company expects to incur severance and related costs in the range of approximately $90 to $100&nbsp;million, substantially all of which it expects to record in the second quarter of 2024. Other than these costs, the Company does not expect to incur any material impairment or exit costs related to this plan.

LUMN

On April 19, 2024, Lumen Technologies Finalized Plans To Reduce Workforce By Less Than 7% Through Combination Of Involuntary And Voluntary Separations - Filing

FVCBankcorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FVCB#NASDAQ">FVCB</a>) reported quarterly earnings of $0.20 per share which met the analyst consensus estimate. The company reported quarterly sales of $12.792 million which missed the analyst consensus estimate of $13.315 million by 3.93 percent. This is a 8.72 percent decrease over sales of $14.014 million the same period last year.

FVCB

FVCBankcorp Q1 2024 GAAP EPS $0.20, Inline, Sales $12.792M Miss $13.315M Estimate

Modine Opens New Facility in Europe to Serve Heat Pump Market

Copper prices have significantly risen, reaching near two-year highs of $10,000 per metric ton. Leading commodity trader Trafigura expects 10 million metric tons of additional copper consumption over the next decade. This surge in demand comes from various sectors, including electric vehicles, power infrastructure, <a href="https://www.benzinga.com/topic/artificial-intelligence">artificial intelligence</a>, and automation.
&#8220;A third of the new demand will come from the electric vehicle sector, a third from electricity generation, transmission, and distribution, and the rest from automation, manufacturing capital expenditure, and cooling systems within data centers,&#8221; Graeme Train, head of metals analysis at Singapore-based Trafigura told Reuters.
Several market analysts are revising their copper market forecasts, anticipating a potential supply deficit this year. Notably bullish is Citibank, which predicts a second copper bull market in the 21st century. In an interview <a href="https://www.cnbc.com/video/2024/04/19/were-entering-the-second-secular-bull-market-for-copper-says-citis-max-layton.html">for</a> CNBC, Citi's global head of commodities, Max Layton, projected that the base-case scenario would see prices reaching $12,000 per ton by 2026. 
He acknowledges the possibility of even higher prices during a strong cyclical recovery. Meanwhile, Bank of America set its 2024 target price to $9,321, citing copper&#8217;s critical role in the energy transition and potential supply shortfalls.
Now read: <a href="https://www.benzinga.com/m-a/24/04/38381679/g-mining-ventures-spends-638m-to-buy-reunion-gold-guyana-project">G Mining Ventures Spends $638M To Buy Reunion Gold Guyana Project</a>
Despite copper&#8217;s impressive rally, not everyone is convinced that prices will maintain these highs. Gu Yan, director of copper at Citic Metal Co., issued a warning at an industry conference in Hangzhou, as reported <a href="https://www.bloomberg.com/news/articles/2024-04-23/copper-at-risk-of-pullback-as-buying-in-china-stalls-after-rally">by</a> Bloomberg. 
&#8220;Demand from fabricators is very weak after the recent rally. There is only a bit of demand from the renewable energy sector, not much from any other markets. Fabricators are all waiting for a price correction to get a breather,&#8221;&nbsp; he said.
Despite the potential for fluctuation, some companies are capitalizing on rising copper prices. A major miner, Anglo American (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NGLOY#OTCQX">NGLOY</a>), <a href="https://www.angloamerican.com/media/press-releases/2024/23-04-2024">reported</a> an 11% increase in copper output for the first quarter of the year, largely due to its Quellaveco mine in Peru achieving its highest throughput rate.
However, Anglo maintained its production guidance for the year, acknowledging that copper grades may temporarily decline in the first half of the year, with increased output expected in the second half. The company's decision to cut capex by $1.8 billion and decrease production by 4% in 2024 and 3% in 2025 is seen as one of the tightening supply catalysts, alongside the shutdown of First Quantum's Cobre Panama mine.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also read: <a href="https://www.benzinga.com/m-a/24/04/38380999/exclusive-why-this-uranium-bull-market-is-different-weve-really-got-to-start-developing-mines-says-m">EXCLUSIVE: Why This Uranium Bull Market Is Different — &#8216;We&#8217;ve Really Got To Start Developing Mines,&#8217; Says Madison Metals CEO</a>
Image generated using artificial intelligence via Midjourney.

Commodities

NGLOY

Copper Prices Approach 2-Year Highs: What's Behind Analyst's $12,000 Price Prediction For 2026?

Visa Expects Q3 Net Revenue Growth In Low Double-Digits, EPS Growth In High End Of Low Double-Digit

MetLife Increases Common Stock Dividend By 4.8% To $0.545

DRCT

Direct Digital Holdings Announces Receipt Of Nasdaq Notification Of Non-Compliance

Editor&#8217;s note:&nbsp;We have updated the story with Kenvue&#8217;s statement in response to the report in paragraph 7
The World Health Organization (WHO) is poised to issue a broader alert regarding contaminated children&#8217;s cough syrup produced by&nbsp;Johnson and Johnson&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) in response to the discovery of tainted batches in Nigeria.&nbsp;
Last&nbsp;week, Nigeria&#8217;s regulatory body recalled a specific batch of Benylin syrup after detecting elevated levels of diethylene glycol during routine testing, Reuters reports.&nbsp;
This compound, along with a related toxin, has been implicated in the deaths of over 300 children across several countries since 2022, although no direct link has been established to recent recalls.
The&nbsp;U.N.&nbsp;health agency intended to issue a global medical product alert to prompt heightened vigilance among national authorities, pending confirmation of&nbsp;certain&nbsp;details.&nbsp;
The recalled batch of Benylin syrup originated from Johnson and Johnson in South Africa before the brand&#8217;s acquisition by&nbsp;Kenvue Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) following a spin-off last year.&nbsp;
Reuters noted that Kenvue was conducting an independent assessment and collaborating with health authorities to determine appropriate measures.
In an emailed statement, Kenvue&nbsp;said, &#8220;Using the testing method recommended by the World Health Organization, we tested the batch of Benylin&#xAE; Paediatric Syrup that was subject to the recall by NAFDAC (batch 329304).&nbsp;Our tests did&nbsp;not detect any presence of diethylene glycol (DEG) or ethylene glycol (EG) in this batch.&nbsp;We follow&nbsp;strict,&nbsp;and&nbsp;robust safety and quality processes to ensure that consumers can trust our products and stand by the safety of our Benylin range.&#8221;
&#8220;We continue to work closely with health authorities and the WHO and are engaging with NAFDAC to understand their test results, including verifying the authenticity of the sampled product, the testing methodology used, and&nbsp;results reported by the agency.&#8221;
In addition to Nigeria, five other African nations, including Rwanda, Kenya, Tanzania, Zimbabwe, and South Africa, have withdrawn the product from circulation, with South Africa&#8217;s regulatory body recalling another batch of the syrup.&nbsp;
Despite the potential risks associated with diethylene glycol consumption, no reported adverse effects have been connected with the recent incident.
Previous instances of contamination in 2022 were traced back to raw materials sourced from manufacturers in India and Indonesia.&nbsp;
The WHO is working closely with South African authorities and the manufacturer to investigate the source of the contamination in the Benylin pediatric syrup, including scrutinizing the origin of the raw ingredients.&nbsp;
Kenvue asserts that pre-manufacture testing revealed no issues with the raw materials, though the possibility of counterfeit products is considered part of ongoing investigations.
Price Action:&nbsp;JNJ shares are up 0.35% at $146.24&nbsp;at the last check Friday.

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Large Cap

Health Care

KVUE

Johnson & Johnson Children's Cough Syrup Contaminated In Some Batches - WHO Poised to Issue Global Alert (Updated)

Chubb Total Company Net Premiums Written Increased 14% In The Quarter

CSGP

CoStar Group Sees Q2 Revenue Of $674M-$679M (Est $682.235M), Adj EPS Of $0.09-$0.10 (Est $0.09)

Chubb Q1 2024 Core Operating Income $5.41 Beats $5.31 Estimate

WIIM

MANH

Manhattan Associates shares are trading lower. The company reported Q1 financial results.

ENPH

Enphase Energy shares are trading lower after the company reported worse-than-expected Q1 financial results and issued Q2 revenue guidance below estimates.

&quot;We are off to a strong start in the&nbsp;first quarter&nbsp;of 2024 and are raising our full year revenue and adjusted EBITDA&nbsp;guidance,&quot; said Scott Wheeler, CFO of CoStar Group.

CoStar Group Revises FY24 Revenue Outlook From $2.75B-$2.77B To $2.76B-$2.77B (Est $2.768B), Adj EPS From $0.57-$0.60 To $0.58-$0.62 (Est $0.60)

Visa shares are trading higher after the company reported better-than-expected Q2 financial results.

Travis Perkins goes ex-dividend tomorrow

Travis Perkins plc goes ex dividend Monday

Press Releases

International companies to host live webcasts at Deutsche Bank's Depositary Receipts Virtual Investor Conference on May 16th and 17th, 2023

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Latest News for Travis Perkins Stock (OTC:TPRKY)

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