Stock Alert: Koss Shares Up 10%

Cintas Corporation Reveals Advance In Q3 Bottom Line

Cintas Corporation (CTAS) revealed a profit for its third quarter that increased from the same period last year.

The company’s profit totaled $258.38 million, or $2.37 per share. This compares with $234.52 million, or $2.16 per share, in last year’s third quarter.

Analysts had expected the company to earn $2.21 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 1.7% to $1.78 billion from $1.81 billion last year.

Cintas Corporation earnings at a glance:

-Earnings (Q3): $258.38 Mln. vs. $234.52 Mln. last year.
-EPS (Q3): $2.37 vs. $2.16 last year.
-Analysts Estimate: $2.21
-Revenue (Q3): $1.78 Bln vs. $1.81 Bln last year.

Next quarter EPS guidance: $2.20 – $2.40
Next quarter revenue guidance: $1.80 – $1.83 Bln

Buffalo Sabres fire coach Ralph Krueger after 12-game winless streak

The Buffalo Sabres, who are winless in their last 12 games, fired coach Ralph Krueger, the team announced Wednesday morning. 

The Sabres (6-18-4) have the fewest points in the NHL with 16 and are in eighth place in the East Division, six points behind the New Jersey Devils. They have just two points in their last 12 games and are in the midst of an 0-10-2 skid.

There Sabres have not announced who would serve as the coach in the interim. 

Krueger's last game in Buffalo was a 3-2 loss against the Devils Tuesday night.

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Progressive Corp. February Profit Soars – Quick Facts

Insurer Progressive Corp. (PGR) reported that February net income soared to $354.6 million or $0.60 per share from $67.1 million or $0.11 per share in the prior-year month.

Net premiums written for the month grew 13 percent to $3.85 billion from $3.40 billion last year. Net premiums earned also increased 10 percent to $3.20 billion from last year’s $2.92 billion.

Ossen Innovation Projects Slight Increase In Revenue For FY20 – Quick Facts

Ossen Innovation Co., Ltd. (OSN) announced that preliminary revenues for the full year 2020 are $139.0 million, compared to $138.9 million, last year. The company said the expected slight increase in revenue is primarily due to an increase in sales of zinc coated prestressed products, partially offset by a decrease in sales of rare earth coated prestressed products.

Preliminary gross profit attributable to company for the full year 2020 are $23.9 million, compared to $22.4 million, prior year. Gross margins are expected to show a 113-basis points improvement, primarily due to the improvement of the profitability of zinc coated prestressed products in 2020, the company said.

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When will cinemas and theatres reopen?

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Jowell Global Prices $26 Mln IPO At $7/Share

Chinese e-commerce platform operator Jowell Global Ltd. (JWEL) on Wednesday announced the price of its $26 million underwritten initial public offering of 3.71 million ordinary shares. The company has fixed the price at $7 per share.

The IPO is expected to close on March 19. The ordinary shares being offered by the company have secured approval for listing on the Nasdaq and will start trading from today under the symbol “JWEL”.

The underwriters can purchase up to an additional 557,143 ordinary shares at the public offering price, valid within 45 days of the date of the final prospectus.

Network 1 Financial Securities, Inc. is the sole book runner and lead underwriter for the offering and Alexander Capital, LP. is the co-underwriter.

Wednesday’s NFL free agency roundup: 49ers give Trent Williams record deal and add another O-lineman

The NFL's 2021 free agency market – finally – officially opens at 4 p.m. ET on Wednesday. Players with expiring contracts or those who have been traded, like Matthew Stafford and Carson Wentz, can officially join their new teams.

The NFL's salary cap for the upcoming season has a max value of $182.5 million – all teams must be under the cap by Wednesday afternoon, when the new league year begins. Several still had salaries that needed to be slashed as of Wednesday morning.

Here are the major moves that occurred as the new league year opens, even though quite a few deals have already been agreed to.

Stock Alert: Koss Shares Up 10%

Shares of Koss Corp. (KOSS) are currently trading at $29.38, up $2.68 or 10.04%, with trading volume rising over 1.08 million versus an average volume of 5.76 million shares. The stock has been trading between $0.80 and $127.45 in the past one year.

There are no recent company-specific news that could be attributed to today’s stock movement.