Chipmaker Micron Technology Inc. (NASDAQ: MU) reported a 4% decline in earnings for the third quarter of 2020 due to higher costs and expenses despite a 14% jump in the top-line. Despite challenges in the macro-environment, the company’s exceptional execution drove strong revenue and earnings growth.
Micron repurchased about 929,000 shares of its common stock for $40 million during the third quarter and ended the quarter with cash, marketable investments, and restricted cash of $9.29 billion, for a net cash position of $2.60 billion.
Looking ahead into the fourth quarter, the company expects adjusted earnings to come in at $1.05 per share, plus or minus $0.10, and unadjusted profit to be $0.88 per share, plus or minus $0.10. Revenues are anticipated to be in the range of $5.75-6.25 billion.
The market mayhem could not have come at a worse time for Bed Bath & Beyond Inc. (NASDAQ: BBBY). For long, the home furnishing retailer has been struggling, with a
Walgreens Boots Alliance (NASDAQ: WBA) reported third quarter 2020 earnings results today. Sales increased 0.1% year-over-year to $34.6 billion. Sales growth was 1.2% on a constant currency basis, led by
Amid the COVID-19 pandemic, several retailers were forced to close their stores but in turn witnessed a pickup in their digital business. Levi Strauss & Co. (NYSE: LEVI) is the