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26 minutes ago
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Coupang Slides on Q2 Profit and Cash-Flow Miss
Coupang (NYSE:CPNG) took a hit after reporting a mixed Q2 and softer cash flow, edging down 4.3% in after-hours trading. Revenue topped estimates at $8.5 billion, up 16% YoY (19% FX-neutral), with Product Commerce at $7.3 billion (+14%) and Developing Offerings at $1.2 B (+33%). Adjusted EBITDA rose to $428 million from $330 million, and gross profit climbed 20% FX-neutral to $2.6 billion, lifting margins by 79 bps to 30%. Warning! GuruFocus has detected 7 Warning Signs with CPNG. Despite the top-line strength, EPS came in at $0.02 vs. the $0.07 consensus, marking a squeeze after last year's -$0.04 loss. The cash story also disappointed: trailing-12-month operating cash flow fell $297 million to $1.9 billion, while free cash flow plunged $729 million to $784 million, driven by capex timing and working-capital swings the company expects to normalize by year-end. Investors will be watching how quickly Coupang's cash flow stabilizes and whether management's cost controls and capex pacing can shore up FCF. The next read on efficiency should come with Q3 results and updated guidance later this fall. This article first appeared on GuruFocus.
Yahoo
26 minutes ago
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Popular principal will stay at Toronto arts school after students, parents push back against transfer
A popular principal at Toronto's Rosedale Heights School for the Arts is staying put after a provincial school board supervisor reversed a decision to transfer him, following backlash from students and parents. Barrie Sketchley will now stay on as principal of the school where he spent over 30 years of his career until his retirement next June, the Toronto District School Board (TDSB) said Tuesday. The TDSB — which was recently taken over by a provincially-appointed supervisor due to government concerns of financial mismanagement — announced in June that Sketchley would be moved to Harbord Collegiate Institute for the upcoming school year. That led to pushback from parents and students, who said Sketchley was an integral part of the school community. In a letter to parents, guardians and students Tuesday, the board said its province-appointed supervisor had reversed the decision to transfer Sketchley. "Principal Sketchley's deep connection to students, families, and staff has shaped the identity of the school and we look forward to a wonderful school year ahead under Principal Sketchley's continued leadership," said the letter, signed by superintendent of education Jennifer Chan. A new principal will join Sketchley to work with administration for the school year, the letter said. The new administrator will work as the school's "Centrally Assigned Principal — Transitions," to support students and staff and "select system initiatives related to transitions," Chan wrote. The province and board have not commented on why Sketchley was originally set to be transferred. A spokesperson for TDSB said any further comment on the decision would have to come from the Ministry of Education. CBC Toronto reached out to the ministry Tuesday evening, but did not immediately hear back. The province's decision in June to take over four school boards, including the TDSB, prompted concerns from parents and students worried that their voices would not be heard in board decisions if their elected officials were no longer in charge. Reversal comes after student, parent backlash The original decision to move Sketchley led students at Rosedale Heights to walk out of class in protest this past spring. Many told CBC News at the time that Sketchley, who is in his 80s, had helped build Rosedale Heights into a leading arts school where students were given the best opportunities, and he could not be replaced. An online petition to reinstate Sketchley at Rosedale Heights, which garnered roughly 2,900 signatures, said the principal's "dedication to the arts and his unwavering support for his students have left an indelible mark on our community." "His absence would leave a void that no other can fill, and the community is deeply concerned about the future of our beloved school without his guidance," it read.
Yahoo
26 minutes ago
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Intel Rallies Despite Fitch Downgrade
Intel (NASDAQ:INTC) got a surprise downgrade from Fitch this week, yet its stock popped about 3.6% anyway. The agency dialed down Intel's long-term credit rating from BBB+ to BBB, pointing to a tougher demand backdrop and the need for debt reduction and stronger product ramps over the next year or two. Short-term ratings stayed at F2, so it's not all doom and gloom. Warning! GuruFocus has detected 6 Warning Signs with INTC. At the same time, Intel's next-gen 18A process is acting up. Early reports suggest Panther Lake chips have roughly three times the defect rate they should, and volume ramps are lagging. That's a headache so close to the planned Q4 launch, especially when smooth ramp-up was supposed to prove we're past the worst of manufacturing woes. Still, investors seem to be looking past the short-term noise. Maybe a rebound in PC and data-center spendingor a clean bill of health at the August 12 bond covenant updatewill do the trick. The real verdict, though, will come with Q3 production progress and any signs that Panther Lake irons out its kinks. This article first appeared on GuruFocus.
