Travelzoo Reports Q3 Revenue of $35.4M and 4 Stocks Falling to 52-Week Lows
Pacer International (NASDAQ:PACR) reports a Q3 revenue totaling $348.9 million, consensus $375.62 million. The company stated, “We have taken several actions in the quarter to improve our intermodal margins and we are exiting the quarter stronger from all of these actions. However, the competitive pricing environment along with rising rail costs will continue to be a challenge in our intermodal segment…Clearly a challenging quarter as a softening economic environment makes it difficult to achieve yields necessary to offset higher purchased transportation costs. We are addressing under-performing traffic corridors, reducing controllable costs and working with our carriers to mitigate cost increases.” The shares closed at $3.46, down $0.81 or 18.97% on the day. They have traded in a 52-week range of $3.65 to $7.04.
Spirit Aerosystems (NYSE:SPR) reached a final settlement with insurers for all claims concerning the April 14 severe weather event at its Wichita, Kansas facility. The settlement amount had a worth of about $235 million and reflects claims lower than what was previously estimated, which was about $400 million. The settlement should resolve all property damage, clean-up, recovery, and business interruption costs. The settlement amount excluding current quarter expenses will be viewed as a gain in Q3. The cash settlement of $130 million, $235 million less the $105 million cash advance that was gained during Q2, is expected in Q4. The shares closed at $15.11, down $6.55 or 30.24% on the day. They have traded in a 52-week range of $15.86 to $26.00.
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Travelzoo Inc (NASDAQ:TZOO) reports a Q3 revenue reaching $35.4 million, consensus $35.35 million. The company stated, “While we are confident about Travelzoo’s long-term opportunity, we are disappointed with our Q3 results. Declines in SuperSearch and Local Deals were not made up by the positive momentum we saw in Getaways. Continued investments into sales team expansion and subscriber growth, as well as enhancements to our hotel and mobile products are affecting profitability in the near-term, but we believe these are the right steps to position Travelzoo for sustainable and profitable future growth.”
Stewart Information (NYSE:STC) reports a Q3 EPS of $1.45, consensus 73c. The shares closed at $21.78, up $1.51 or 7.45% on the day. They have traded in a 52-week range of $9.60 to $22.28.
Thermo Fisher Scient (NYSE:TMO): International Stem Cell’s (ISCO) subsidiary, Lifeline Cell Technology, or LCT, is to start selling products via Fisher Scientific’s online catalogue as an Encompass Preferred Supplier.