Pre-market Movers: OP, SLHG, ARDX, WORX, LGVN…
The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.00 A.M. ET).
In the Green
OceanPal Inc. (OP) is up over 56% at $8.15
Skylight Health Group Inc. (SLHG) is up over 47% at $1.95
Ardelyx, Inc. (ARDX) is up over 28% at $1.46
SCWorx Corp. (WORX) is up over 22% at $1.83
Context Therapeutics Inc. (CNTX) is up over 10% at $7.60
Box, Inc. (BOX) is up over 9% at $25.65
Altimeter Growth Corp. (AGC) is up over 9% at $13.96
BeyondSpring Inc. (BYSI) is up over 8% at $13.90
180 Life Sciences Corp. (ATNF) is up over 7% at $6.85
Eros STX Global Corporation (ESGC) is up over 7% at $0.39
In the Red
Longeveron Inc. (LGVN) is down over 20% at $20.87
Aditxt, Inc. (ADTX) is down over 18% at $0.95
CTI BioPharma Corp. (CTIC) is down over 17% at $1.85
Cumberland Pharmaceuticals Inc. (CPIX) is down over 10% at $4.52
NLS Pharmaceutics AG (NLSP) is down over 7% at $1.87
Clarus Therapeutics Holdings, Inc. (CRXT) is down over 6% at $5.36
Patterson Companies Inc. Q2 Profit Decreases, but beats estimates
Patterson Companies Inc. (PDCO) reported earnings for second quarter that decreased from last year but beat the Street estimates.
The company’s earnings totaled $48.33 million, or $0.49 per share. This compares with $54.06 million, or $0.56 per share, in last year’s second quarter.
Excluding items, Patterson Companies Inc. reported adjusted earnings of $57.07 million or $0.58 per share for the period.
Analysts on average had expected the company to earn $0.50 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 6.5% to $1.65 billion from $1.55 billion last year.
Patterson Companies Inc. earnings at a glance:
-Earnings (Q2): $48.33 Mln. vs. $54.06 Mln. last year.
-EPS (Q2): $0.49 vs. $0.56 last year.
-Analyst Estimates: $0.50
-Revenue (Q2): $1.65 Bln vs. $1.55 Bln last year.
Full year EPS guidance: $2.00 to $2.10
Build-A-Bear Workshop Raises Annual Guidance; Authorizes Stock Buyback Program
Build-A-Bear Workshop, Inc. (BBW) said it believes the company’s business performance has it positioned to exceed the expectations it previously issued with second quarter earnings. Total revenues in fiscal 2021 is now estimated to be in the range of $390 to $400 million which represents an increase from its previous guidance of a range of $375 to $385 million. EBITDA is now expected to be in the range of $55 million to $60 million, an increase from previous expectation for EBITDA in the range of $45 to $50 million.
The company’s Board of Directors has declared a special cash dividend of $1.25 per share and authorized a share repurchase program of up to $25 million effective through November 30, 2023. The dividend will be paid on December 27, 2021, to all stockholders of record as of December 10, 2021.
Third quarter adjusted net income was $6.1 million, or $0.38 per share, compared to adjusted net income of $1.7 million, or $0.11 per share, prior year.
Net income was $5.9 million, or $0.36 per share, compared to net income of $1.7 million, or $0.11 per share, prior year. Total revenues were $95.1 million, an increase of 27.4% from $74.7 million, last year.
Daktronics Q2 Net Income Declines; Net Sales Up 29.1%
Daktronics, Inc. (DAKT) said its second quarter operating income decreased to $4.4 million from $6.7 million, last year, due to inflation in materials and freight costs and increased personnel spend compared to prior year.
Second quarter net income was $2.4 million, and earnings per share of $0.05 compared to $3.4 million, and $0.08 per share, a year ago.
Net sales increased to $164.5 million from $127.4 million, prior year, as a result of strong demand and eased pandemic related site restrictions. Orders for the second quarter increased 20.7 percent.
Reece Kurtenbach, CEO said, “Market demand continued to return to pre-pandemic levels and our order bookings grew through the first half of the year. Our operating expenses have increased as we adjust our capacity to support increased demand levels and convert our record high backlog to sales.”
Salesforce.com Shares Fall 7% After Lower Q3 Profit
Shares of CRM solutions platform Salesforce.com, Inc. (CRM) are down 7 percent on Wednesday’s trading after the company reported a drop in third-quarter earnings.
The company’s bottom line came in at $468 million or $0.47 per share, down from $1.08 billion or $1.15 per share last year.
Excluding items, Salesforce.com posted earnings of $1.27 billion or $1.27 per share for the period. Analysts had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters.
The company’s revenue for the quarter rose 26.6 percent to $6.86 billion from $5.42 billion last year.
Currently at $264.31, the stock has traded between $201.51 and $311.75 during the past 52 weeks.
Watch Fed Chair Powell and Treasury Secretary Yellen testify live before House Covid panel
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.]
Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell head back to Capitol Hill on Wednesday for their second day of testimony on the CARES Act.
The duo appears before the House Financial Services Committee to discuss the pandemic's impact on the economy as well as their respective institutions' response relative to the coronavirus relief legislation.
In Tuesday testimony before the Senate banking panel, Powell roiled markets when he said "transitory" is no longer an appropriate way to describe inflation, and indicated the Fed would discuss in December accelerating the taper of its monthly bond purchases.