Carrier Global Corporation has entered into an agreement to sell its security business, Global Access Solutions, to Honeywell for $4.95 billion. Honeywell plans to strengthen its building automation capabilities with this acquisition, which includes industry-leading brands such as LenelS2, Supra, and Onity. The purchase price represents approximately 13x 2023 expected EBITDA and the transaction is expected to be immediately accretive to Honeywell's growth, gross margins, and operating margins.
Taiwan Semiconductor (NYSE: TSM) reported strong Q2 results, raised its full-year guidance, and received a reaffirmed Buy rating despite stock pressure from geopolitical concerns and market volatility in the chip sector.
The Travelers Companies, Inc. experienced a strong quarter with significantly higher net and core income, despite missing revenue estimates and facing increased catastrophe losses, with shares resuming their rally.
American Express beat second-quarter profit estimates due to high spending by wealthy customers but missed revenue expectations, causing shares to trade lower.
CrowdStrike Holdings Inc. is facing a challenging outlook as a recent analysis issued a "sell" rating, predicting a 23% stock drop, further compounded by a major global outage due to a flawed update.
Cintas Corporation (CTAS) reported strong Q4 fiscal 2024 results, with an 8.2% revenue increase. The stock hit an all-time high following better-than-expected earnings and an optimistic outlook for continued growth and acquisitions in fiscal 2025.
Netflix will report Q2 earnings on Thursday, with focus on its ad-supported model and subscriber numbers as key revenue factors.
Netflix will announce its Q2 financial results on July 18, with a focus on its advertising-supported model and subscriber growth amid password-sharing crackdowns.
Infosys surpassed quarterly revenue estimates and raised its annual revenue guidance, reporting growing profits and increased client spending across its financial services and manufacturing sectors.