EARNINGS SUMMARY: Details of Palatin Technologies Inc. Q1 Earnings Report
Below are the earnings highlights for Palatin Technologies Inc. (PTN):
-Earnings: -$3.94 million in Q1 vs. -$4.50 million in the same period last year.
-EPS: -$0.02 in Q1 vs. -$0.02 in the same period last year.
-Analysts projected -$0.03 per share
UK confident of Canadian trade deal by Jan. 1, minister says
LONDON (Reuters) – Britain is confident that it will strike a trade deal with Canada by the end of the year, British trade minister Greg Hands said on Tuesday.
“It is an incredibly important deal,” Hands told parliament, saying Canada was an important strategic partner and 16th largest trading partner.
Last week, Canadian Prime Minister Justin Trudeau said the deal was a “really easy one” and was hopeful it would be agreed before January.
Walmart Q3 Profit Tops Estimates; Walmart U.S. ECommerce Sales Up 79%
Walmart Inc. (WMT) said its net sales and operating results continue to be affected by the global health crisis. However, increased demand for products across multiple categories led to strong top-line and gross margin results during the third quarter. The company recorded incremental expenses related to COVID-19 of approximately $0.6 billion, for the quarter.
Third quarter adjusted earnings per share was $1.34 compared to $1.16, a year ago. On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $1.18, for the quarter. Analysts’ estimates typically exclude special items. Adjusted operating income in constant currency rose 16.4 percent year-on-year to $5.8 billion.
Third quarter total revenue was $134.7 billion, an increase of 5.2%. Excluding currency, total revenue would have increased 6.1% to reach $135.8 billion. Analysts expected revenue of $132.23 billion, for the quarter.
Walmart International net sales were $29.6 billion, an increase of 1.3%. Excluding currency, net sales would have been $30.6 billion, up 5.0% led by Flipkart, Canada and Walmex.
Walmart U.S. comp sales increased 6.4%. Walmart U.S. eCommerce sales were up 79% with strong results across all channels and contributed approximately 570 basis points to comp sales. Sam’s Club comp sales rose 11.1%.
Shares of Walmart Inc. were up more than 2% in pre-market trade on Tuesday.
GCI Liberty To Sell Its Stake Of LendingTree – Quick Facts
GCI Liberty, Inc. (GLIBA, GLIBP) has agreed to sell its stake of LendingTree, Inc. and agreed to unwind its forward sale contract on LendingTree shares. The gross proceeds of the sale are expected to be $1.007 billion.
Greg Maffei, GCI Liberty President and CEO, said: “Given our substantial return and other objectives we have for GCI Liberty, we felt it was an opportune time to monetize this investment.”
On August 6, 2020, GCI Liberty and Liberty Broadband entered into a definitive merger agreement under which Liberty Broadband has agreed to acquire GCI Liberty in a stock-for-stock merger. The HSR waiting period expired on October 9, 2020. The FCC released public notice of approval of transfer of control on October 23, 2020, which is expected to become a final order on December 2, 2020. GCI Liberty expects the combination to close no later than the first quarter of 2021.
Rockwell Automation To Acquire Fiix – Quick Facts
Rockwell Automation, Inc. (ROK) has agreed to acquire Fiix Inc., a privately-held, AI-enabled computerized maintenance management system company. Fiix will be reported as part of the company’s Software & Control operating segment.
Headquartered in Toronto, Ontario, Canada, Fiix has more than 2 million assets under management and creates more than 6 million work orders a year. Fiix’s cloud-native CMMS creates workflows for the scheduling, organizing, and tracking of equipment maintenance. It connects seamlessly to business systems and drives data-driven decisions.
Centre places Lakshmi Vilas Bank under moratorium, caps withdrawal limit at ₹25,000
The Centre has placed private-sector lender Lakshmi Vilas Bank Ltd. under a moratorium and has restricted withdrawals of more than ₹25,000 rupees, according to a Finance Ministry statement on November 17.
BrainStorm: Phase 3 Trial With NurOwn Fails To Meet Statistical Significance In Efficacy Endpoint
BrainStorm Cell Therapeutics Inc. (BCLI) reported topline results from double-blind placebo-controlled phase 3 trial evaluating NurOwn as a treatment for Amyotrophic lateral sclerosis. The trial did not reach statistically significant results. The company noted that this clinical trial included a more severely affected ALS population compared to other recent ALS clinical trials.
NurOwn was generally well tolerated, and showed a numerical improvement in the treated group compared to placebo across the primary and key secondary efficacy endpoints.
“We are in active discussions with the FDA who have expressed their eagerness to review the data and have committed to prioritize review of this data. The FDA will review the data to see if there is a path forward to support approval,” said Chaim Lebovits, CEO of BrainStorm.
Daily COVID-19 Infections In US At New High
Daily COVID-19 infections in the United States reached a new high on Monday.
1,67,708 new cases recorded in the last 24 hours was the worst daily toll in the country since the pandemic began.
With this, the country’s total number of COVID-19 infections increased to 11205485, as per latest data from the Johns Hopkins University Center for Systems Science and Engineering.
1003 new deaths in the same period took the total casualties to 247220.
Since the beginning of this month, cases are multiplying in the United States, breaking all-time records day-by-day.
More than 100,000 COVID-19 cases have been announced nationwide every day since November 4, and are feared to touch the 200,000 mark as the winter approaches.
President-elect Joe Biden has warned that President Donald Trump’s non-co-operation in transition could cost lives due to lack of co-ordination to tackle the pandemic.
Addressing his supporters in Delaware on Monday, Biden said, “More people may die if we don’t co-ordinate.”
Meanwhile, the US Centers for Disease Control and Prevention said that breast milk is not a likely source of COVID-19 infection.
A revised guidance that the agency issued on Monday for women, who are breastfeeding while they have suspected or confirmed Covid-19, provides more clarity on the infection chances.