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By Robert Daniels
PLx Pharma Q2 Loss Top Estimates, But Revenues Miss; Stock Down 15%
PLx Pharma Inc. (PLXP) reported Friday a second-quarter net loss attributable to common shareholders of $11.56 million or $0.43 per share, narrower than $18.71 million or $0.79 per share in the prior-year quarter.
Excluding items, adjusted loss for the quarter were $0.52 per share, compared to adjusted loss of $0.27 per share in the year-ago quarter.
Total revenues for the quarter were $0.48 million, compared to nil in the same quarter last year.
On average, three analysts polled by Thomson Reuters expected the company to report a loss of $0.56 per share on revenues of $3.5 million for the quarter. Analysts’ estimates typically exclude special items.
The company said it has recently engaged Raymond James & Associates, Inc. as financial advisor to commence a formal process to evaluate strategic alternatives to enhance stockholder value with the full support from the Board.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
RYAN Stock Down Despite Upbeat Quarter
Shares of Ryan Specialty Holdings Inc. (RYAN) are currently trading at $44.47, down 83 cents or 1.84%, with trading volume of over 164K versus an average volume of 621K shares. The stock broke out to a new all-time high of $46.33 on Thursday (August 11, 2022).
The company reported Q2 net income of $70.1 million, up 10.6%, compared to $63.4 million in the prior-year period. Adjusted net income rose 15.4% to $106.4 million from $92.3 million last year.
On a per share basis, earnings for the second quarter of 2022 was $0.22. Adjusted earnings per share for the second quarter of 2022 was $0.39.
Total revenue for the quarter was $491.3 million, 26.0% higher than the previous year’s revenue of $390.0 million.
Analysts polled by Thomson Reuters expected earnings of $0.35 per share on revenue of $460.46 million for the quarter. Analysts’ estimate typically exclude certain special items.
The company now expects FY22 organic revenue growth to be in the range of 16.5% – 18.0%, compared to the prior guidance range of 13.5% – 15.5%. Adjusted EBITDAC margin guidance range for the full year 2022 is now 29.0% – 30.0%, versus the previously issued range of 28.5% – 30.0%.
Olo Falls 33%
Shares of Olo Inc. (OLO) are tumbling on Friday morning trade, continuing a downward trend since August 10. Thursday, the company had reported loss, wider than the loss in the previous year.
Looking ahead to the third quarter, the company projected revenue in the range of $46.5 million to $47.0 million. Analysts expected 56.13 million.
For the fiscal year 2022, the company expects revenue in the range of $183.0 million to $184.0 million, while analysts were looking for $195.58 million.
Currently, shares are at $8.69, down 33.11 percent from the previous close of $12.99 on a volume of 4,570,498.
JinkoSolar Holding Shares Continue Bearish
JinkoSolar Holding Co., Ltd. (JKS) shares are sliding more than 5 percent on Friday morning trade, continuing bearish. There were no corporate announcements on the day to influence the stock movement.
Currently, shares are at $62.96, down 5.62 percent from the previous close of $66.71 on a volume of 838,110. For the 52-week period, the shares have traded in a range of $35.41-$76.92 on average volume of 1,233,522.
Illumina Shares Continues To Slide
Illumina, Inc. (ILMN) shares are declining more than 8 percent on Friday morning trade, continuing a bearish trend. On Thursday, the company had reported loss compared to profit last year.
Currently, shares are at $207.57, down 8.70 percent from the previous close of $227.44 on a volume of 2,356,562.
The FBI Retrieved 'Top Secret' Materials from Mar-a-Lago, Document Shows
The FBI retrieved “around 20 boxes of items” from Mar-a-Lago on Monday, including 11 sets of classified documents, The Wall Street Journal reported Friday, citing a list of items obtained by the bureau which is part of a document that contains the search warrant authorizing the raid.
Specifically, agents “collected four sets of top secret documents, three sets of secret documents, and three sets of confidential documents,” according to the Journal. The document did not detail the contents of those documents. While “secret” is a widely applied label in the intelligence world and at times applied to relatively insignificant documents, the “top secret” classification is applied to far more sensitive material.
The three-page list also notes that agents removed from the former president’s estate, among other things, Trump’s grant of clemency to Roger Stone and information about the “President of France.”
The warrant authorized agents to search Trump’s office and “all storage rooms and all other rooms or areas within the premises used or available to be used by [the former president] and his staff and in which boxes or documents could be stored, including all structures or buildings on the estate.”
The Washington Post reported Thursday that agents were looking for classified documents relating to nuclear weapons, which Trump denied having, instead baselessly suggesting that agents planted evidence.