Preliminary Q2 Revenue Falls Below Expectations for BlackBerry

1 Mins read

BlackBerry, the security software company, announced lower than expected preliminary revenue for the second quarter. The company attributed this to the timing of certain larger deals. Despite this, BlackBerry maintains its guidance for full-year cybersecurity and licensing revenue. However, it has revised its forecast for IoT revenue due to changes in production schedules. Following the news, shares in BlackBerry fell by 12% to $4.90 after-hours.

WestRock Nears Deal to Combine with Smurfit Kappa

WestRock, a packaging company, is reportedly close to finalizing a deal with Dublin-based packaging company Smurfit Kappa. According to insiders, if negotiations proceed smoothly, an announcement may be made as early as next week. Should the deal go through, the two companies would merge to become a global paper and packaging giant with an estimated value of $20 billion. As a result of this news, WestRock shares increased by 11% to $35.58 after-hours.

Sportsman’s Warehouse Reports Sales Slowdown with Profit Loss

Sportsman’s Warehouse, an outdoor specialty retailer based in Utah, experienced a considerable slowdown in sales during the recently completed quarter, resulting in a loss for the company. Sales decreased by 11.8%, while same-store sales saw a decline of 16.1%. To boost sales throughout the rest of the year, Sportsman’s Warehouse plans to adopt a more aggressive approach in terms of promotions and markdowns. Following this announcement, shares in the company fell by 18% to $3.70 after-hours.

Related posts

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

− 1 = 2