Longmont United Hospital Foundation

Longmont United Hospital

Leading. Giving. Caring

The Longmont United Hospital Foundation is dedicated exclusively to supporting healthcare services and associates at Longmont United Hospital through philanthropy. The goal of the Foundation is to help ensure that Longmont United Hospital will have the best possible facilities and equipment to help you and your loved ones when medical care is needed. Your tax deductible gifts help us achieve this important mission.

All gifts are tax deductible to the fullest extent allowed by the IRS.

Focus on Leading

Text Resize
Print
Email
Subsribe to RSS Feed

Wednesday December 8, 2021

Finances

Finances
 

Salesforce Posts Quarterly Earnings

Salesforce.com, Inc. (CRM) posted its quarterly earnings report for the third quarter on Tuesday, November 30. The customer relationship management software company's stock dropped 12% following the release of the report despite better-than-expected third quarter results.

The company reported revenue of $6.86 billion, up from $5.42 billion in revenue at this time last year. This was consistent with analysts' expected revenue of $6.8 billion for the quarter.

"We delivered another phenomenal quarter, fueling strong revenue growth, margin and cash flow," said Salesforce CEO Marc Benioff. "Salesforce is more relevant and strategic than ever as every company accelerates their digital transformation journey. Just as we've helped our customers navigate the pandemic, we're now guiding them toward greater growth, customer success, health and safety, and trust."

Salesforce posted net income for the quarter of $468 million or $0.47 per adjusted share. During the same quarter last year, the company reported net income of $1.08 billion or $1.15 per adjusted share.

Salesforce's acquisition of Slack Technologies earlier in the year helped drive revenue up this quarter. The merger allows Salesforce users to connect their employees and customers in a single platform. Salesforce projects fourth quarter revenue between $7.224 and $7.234 billion. For fiscal year 2022, Salesforce expects revenue between $26.39 and $26.40 billion. The company noted in its earnings call that the merger may impact adjusted earnings per share and impact the fourth quarter profits.

Salesforce.com, Inc. (CRM) shares ended the week at $258.32, down 10.8% for the week.

Build-A-Bear Reports Earnings


Build-A-Bear Workshop Inc. (BBW) reported its latest quarterly earnings on Wednesday, December 1. The toy company posted record revenue and income as it celebrated its 25th anniversary.

Revenue for the third quarter came in at $95.1 million. This is up from revenue of $74.7 million for the same quarter last year.

"It is our belief that this trend is largely reflective of the successful execution of our strategy along with our ability to adapt to ongoing external volatility," said Build-A-Bear CEO Sharon Price John. "We firmly believe our results reflect the progress we have made in our key initiatives allowing us to capitalize on increased demand with enhanced marketing programs and omnichannel capabilities while also having acknowledged the potential positive impact from pandemic related factors such as pent-up consumer activity and government stimulus."

Build-A-Bear posted net income for the quarter of $5.9 million or $0.36 per adjusted share. During the same quarter last year, the company reported net income of $1.7 million or $0.11 per adjusted share.

Build-A-Bear recently made headlines by announcing its Bear Builder 3D Workshop, a new digital, interactive shopping experience. The online tool allows customers to create a stuffed animal and have it delivered directly to the customer's home. The company updated its full-year guidance and projected total revenue to be in the range of $390 to $400 million, up from $375 to $385 million. The company's board of directors authorized a cash dividend of $1.25 per share.

Build-A-Bear Workshop Inc. (BBW) shares ended the week at $20.10, up 12.4% for the week.

Hewlett Packard Reports Earnings


Hewlett Packard Enterprise Co. (HPE) released its fourth quarter and full-year earnings report on Tuesday, November 30. The information technology products and services provider reported increased revenue and earnings for the quarter.

Hewlett Packard reported quarterly revenue of $7.4 billion. This is up from last year's fourth quarter revenue of $7.2 billion. The company reported full-year revenue of $27.8 billion, up from $27.0 billion the previous year.

"In 2021, we accelerated our pivot to as a service, strengthened our core capabilities, and invested in bold innovation in high-growth segments," said Hewlett Packard CEO Antonio Neri. "As our customers continue to demand greater connectivity, access to solutions that allow them to extract value from their data no matter where it lives, and a cloud-everywhere experience, HPE is poised to accelerate our market leadership and provide strong shareholder returns."

The company announced net earnings of $2.6 billion for the quarter, which was up from net income of $157 million one year ago. On an adjusted earnings per share basis, the company reported adjusted earnings of $1.91 per share, which was more than the $0.12 per share for the same time last year.

Hewlett Packard recently announced it had acquired Teradici Corporation, a global innovator in remote access computing software. The acquisition was completed to enhance Hewlett Packard's remote access services by offering its customers a single subscription to Teradici Cloud Access Software. A subscription would allow users to securely access physical workstations with high-performance computing from any computer or tablet. The acquisition of Teradici helped Hewlett Packard increase its revenues for the quarter.

Hewlett Packard Enterprise Co. (HPE) shares closed at $15.17, up 4.3% for the week.

The Dow started the week at 35,018 and closed at 34,580 on 12/3. The S&P 500 started the week at 4,629 and closed at 4,538 The NASDAQ started the week at 15,719 and closed at 15,085.
 

Treasury Yields Fluctuate

U.S. Treasury yields fluctuated throughout the week as investors digested the latest news regarding the omicron variant of COVID-19 and indications the Fed may begin tapering its asset purchase program sooner than expected. Yields dipped on Friday after job growth fell short of expectations.

On Tuesday and Wednesday, Federal Reserve Chairman Jerome Powell spoke before lawmakers in a Congressional hearing. In his testimony, Powell indicated the central bank could increase the pace of tapering and its removal of efforts to boost the economy, amidst rising inflation concerns.

"At this point, the economy is very strong and inflationary pressures are higher, and it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner," said Powell. "I expect that we will discuss that at our upcoming meeting."

The benchmark 10-year Treasury note yield opened the week of 11/29 at 1.479% and traded as high as 1.564% on Monday before falling to a low of 1.404% on Thursday. The 30-year Treasury bond yield opened the week at 1.829% and hit a high of 1.909% on Monday before falling to a low of 1.736% on Thursday.

On Friday, the U.S. Department of Labor reported that November nonfarm payrolls increased by 210,000, falling short of the 581,000 jobs estimated by analysts. However, labor force participation rate increased to 61.8%, just 1.5% below the participation rate reported for February 2020.

"This report is a tale of two surveys," said Nick Bunker, economic research director at Indeed. "The household survey shows accelerating employment gains, workers returning to the labor force and low levels of involuntary part-time work. The payroll survey shows a significant deceleration in job growth, particularly in COVID-affected sectors."

The 10-year Treasury note yield closed at 1.36% on 12/3, while the 30-year Treasury bond yield was 1.68%.
 

Mortgage Rates Remain Stable

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, December 2. Mortgage rates continued to hold steady this week.

This week, the 30-year fixed rate mortgage averaged 3.11%, up from last week's average of 3.10%. Last year at this time, the 30-year fixed rate mortgage averaged 2.71%.

The 15-year fixed rate mortgage averaged 2.39% this week, down from 2.42% last week. During the same week last year, the 15-year fixed rate mortgage averaged 2.26%.

"Mortgage rates continue to remain stable notwithstanding volatility in the financial markets," said Freddie Mac's Chief Economist, Sam Khater. "The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. This low mortgage rate environment offers favorable conditions for refinancing."

Based on published national averages, the savings rate was 0.06% as of 11/15. The one-year CD averaged 0.14%.

Published December 3, 2021
Print
Email
Subsribe to RSS Feed

Previous Articles

Zoom Reports Earnings

Home Depot Posts Earnings

AMC Posts Earnings

Zillow Halts Homebuying

Alphabet Reports Earnings

scriptsknown