STOCKS TELEGRAPH

Author: Iqra Jamal

  • Casper Sleep Inc. (CSPR) Stock Surged 90.42% Today, Here’s Why              

    Casper Sleep Inc. (CSPR) stock soared 90.42% in the current market trading session at the price of $6.76 after announcing its financial results for the three months ending 30th September 2021.  

    CSPR believes that everyone deserves better sleep. The company produces and commercializes engineered sleep goods, including pillows, mattresses, bedding, and furniture designs. 

    CSPR Third Quarter 2021 Financial Results 

    On 15th November 2021, CSPR published its earnings report for the third quarter ended 30th September 2021 and provided corporate updates.  

    Financial Highlights  

    For the third quarter of 2021, CSPR reported revenue of $156.5 million. Retail partnership revenue was $60.0 million for the third quarter of 2021. It represents a gain of 78.6% from the third quarter of 2020. For the third quarter of 2021, gross profit totaled $63.9 million. It represents a drop of 6.7%, or $4.6 million, from the third quarter of 2020. 

    For the third quarter of 2021, CSPR reported a net loss of $25.3 million. An increase of 59.4%, or $9.4 million, from the same three months of 2020. For the third quarter ended 30th September 2021, adjusted EBITDA loss totaled $12.1 million.  The adjusted EBITDA loss was $7.5 million in the third quarter of the previous year. On 30th September 2021, cash and cash equivalents totaled approximately $43.1 million.  

    CSPR Appointed Emilie Arel  

    On 15th November 2021, the company also published that it had appointed Emilie Arel as Chief Executive Officer. She has earlier worked as Chief Commercial Officer and President at Casper. Ms. Arel has replaced Philip Krim, Co-founder and current CEO of Casper. The appointment became effective from 15th November 2021.  

    Chief Executive Officer of CSPR, Mr. Krim, remarked that he is pleased to announce the appointment of Emilie Arel as the new CEO. Her future duties will help to prioritize and nourish talent development across the company, he added.

    Definite Agreement with Durational 

    Additionally, on 15th November 2021, Casper has published entering into a definitive agreement with Durational Capital Management LP. As per the deal, CSPR will acquire $6.90 per share in an all-cash transaction. The transaction will close in the first quarter of 2022.  

  • eFFECTOR Therapeutics, Inc. (EFTRW) Stock Surged 23.45% Pre-Market, Here’s Why        

    eFFECTOR Therapeutics, Inc. (EFTRW) stock surged 23.45% in the premarket-hours trading session at the price of $1.79 despite no fundamental reason. The last reported news was its financial results for the third quarter ended 30th September 2021.

    EFTRW is a clinical-stage biopharmaceutical corporation. It develops a new class of oncology medicines related to STRIs. Its product candidate, STRI, harness the eIF4F complex and its activating kinase, MNK.  

    EFTRW Released Third Quarter 2021 Earnings Report 

    On 8th November 2021, EFTRW published its financial results for the third quarter ended 30th September 2021, and presented business updates. 

    EFTRW Financial Highlights 

    EFTRW reported $54.8 million in its cash and cash equivalents on 30th September 2021. On 31st December 2020, cash and cash equivalents totaled $15.2 million. For the third quarter ended 30th September 2021, revenue totaled $0.4 million. Revenue was $0.6 million for the third quarter ended 30th September 2020. For the quarter ended 30th September 2021, the company reported $17.6 million in other income.  

    For the three months ended on 30th September 2021, EFTRW reported a net income of $8.9 million. Net income per basic share was $0.53 and per diluted share was $0.42 during the quarter. Net loss totaled $7.6 million, or per basic and diluted share of $5.29, for the third quarter of last year. Net income attributable to stockholders was approximately $0.4 million for the quarter ended 30th September 2021.  

    For the quarter ended 30th September 2021, EFTRW reported research and development expenses of $5.0 million. R&D expenses were $6.8 million for the third quarter of the previous year. This decrease resulted from lower external development costs from the tomivosertib and zotatifin programs, partially balanced by higher non-cash stock compensation costs.

    General and administrative expenses were approximately $4.1 million for the third quarter of 2021. For the third quarter of 2020, EFTRW reported G&A expenses of $1.1 million. This increase resulted from higher personnel-related costs, company-related costs, and non-cash stock compensation costs. The company reported $0.3 million in other expenses for the quarter ended 30th September 2021. 

    Management Comments  

    Chief executive officer of EFTRW, Steve Worland, remarked that they had accomplished significant milestones as they continue to advance the clinical progress of STRIs. The company looks ahead to expand the clinical findings as it advances towards the commercialization of STRI’s to treat cancer. 

  • United Insurance Holdings Corp. (UIHC) Stock Plunged 9.96% After-Hours, Here’s Why          

    United Insurance Holdings Corp. (UIHC) stock plummeted 9.96% in the after-hours trading session at the price of $4.52 despite no fundamental reason. The last published news was its financial results for the third quarter of 2021.  

    UIHC is an insurance holding firm that provides services to individual and commercial residential property. It also offers casualty insurance services using its wholly-owned insurance subsidiaries through various distribution channels. 

    UIHC Third Quarter 2021 Earnings Report 

    On 11th November 2021, UIHC published its financial results for the third quarter, ended 30th September 2021, and provided business updates.  

    Financial Highlights 

    For the third quarter of 2021, net loss attributable to UIHC totaled $14.3 million, or per diluted share of $0.33. Net loss attributable to the company was $74.1 million, or per diluted share of $1.73, for the third quarter of 2020. For the third quarter of 2021, policy acquisition expenses declined by 20.1%, or $11.8 million, to $46.9 million. Policy acquisition expenses were $58.7 million for the third quarter ended 30th September 2020. 

    For the third quarter of 2021, a total gross written premium of UIHC was reduced by 11.8%, or $43.3 million, to $322.5 million. The gross written premium was roughly $365.8 million in the third quarter of the previous year. Loss and LAE totaled $102.8 million for the third quarter ended 30th September 2021. It represents a drop of 53.0%, or $115.9 million, compared to $218.7 million in the last year third quarter.   

    For the third quarter of 2021, operating expenses were reduced by 6.2%, or $0.9 million, to $15.4 million. Operating expenses totaled $14.5 million in the same quarter of 2020. For the third quarter of 2021, UIHC reported general and administrative costs of $13.9 million. A drop of 27.6%, or $5.3 million, compared to $19.2 million in the third quarter of the prior year. The cash, restricted cash, and investment totaled $1.2 billion on 30th September 2021. Cash, restricted cash, and investment were $1.3 billion on 31st December 2020.  

    Management Comments  

    Chief executive officer of UIHC, Dan Peed, remarked that their third quarter of 2021 ended with a relatively lower loss compared to the last year. The earnings were in accordance with their expectations for this ongoing year. They continue to take further steps to improve underlying profitability; he added.

  • Creative Realities, Inc. (CREX) Stock Surged 25.34% After-Hours, Here’s Why    

    Creative Realities, Inc. (CREX) stock surged 25.34% in the after-hours trading session at the price of $1.83 following the definitive merger agreement with Reflect Systems, Inc.  

    CREX helps customers use advanced omnichannel technologies to encourage better consumer experiences. CRI designs produce and commercialize customer experiences for enterprise-level network systems. It is actively offering support services and recurring SaaS across vertical markets.   

    CREX Announced Definitive Merger Agreement 

    On 12th November 2021, CREX reported a definitive merger agreement with Reflect Systems, Inc. Under the terms of the deal, the merged company will function under Creative Realities, Inc. and will be named CREX on NASDAQ. CEO of Reflect, Lee Summers, will keep serving the company. He will also lead the AdTech initiatives of the merged company, including the alliance with Supply Side Platforms and Exchanges. The merger has expected to close by the first quarter of 2022. 

    CREX Scheduled Third Quarter 2021 Results 

    On 1st November 2021, CREX scheduled to announce its earnings report for the three and nine months ended 30th September 2021. The management will host the conference call on 16th November 2021 at 9:00 am Eastern Time. Rick Mills, Chief Executive Officer, and Will Logan, Chief Financial Officer, will discuss the results. 

    Second Quarter 2021 Financial Results 

    On 16th August 2021, CREX published its financial results for the three- and six months ended 30th June 2021 and provided corporate updates.  

    Revenues totaled $3.3 million for the second quarter of 2021. It represents a drop of 10%, or $0.4 million, from the same quarter of 2020. For the three months ended 30th June 2021, Safe Space Solutions product sales totaled $0.2 million, compared to $0.5 million for the same period of 2020. It represents a loss of 60%, or $0.3 million. CREX reported an operating loss of $0.4 million for the second quarter of 2021. Operating loss was $1.6 million in the second quarter of 2020. For the second quarter of 2021, net income was $1.0 million compared to a net loss of approximately $2.5 million for the second quarter of 2020.

  • Team, Inc. (TISI) Stock Plunged 34.57% Pre-Market, Here’s Why          

    Team, Inc. (TISI) Stock Plunged 34.57% Pre-Market, Here’s Why          

    Team, Inc. (TISI) stock plummeted 34.57% in the pre-market trading session at the price of $1.89 after announcing its financial results for the three months ended on 30th September 2021. TISI provides integrated, digitally-enabled asset assurance and optimization solutions to customers globally.  

    TISI Third Quarter 2021 Earnings Report 

    On 12th November 2021, TISI announced its financial results for the third quarter ended on 30th September 2021 and provided business updates.  

    TISI Financial Highlights 

    TISI reported a net loss of $91.2 million, or per diluted share of $2.94, for the third quarter of 2021. Net loss totaled $9.1 million, or per diluted share of $0.30, for the third quarter of 2020. For the third quarter of 2021, the total revenue was $217.4 million. Revenue was $219.1 million in the same quarter of the previous year. The gross margin was 24.5%, or $53.3 million, for the third quarter of 2021. For the third quarter of 2020, the gross margin was 29.1%, or $63.7 million. 

    TISI calculated SG&A of $67.6 million for the third quarter of 2021. A gain of 10.6% or $6.5 million from the third quarter of the previous year. For the third quarter of 2021, adjusted EBIT (loss) was $10.2 million. Adjusted EBIT (income) was $5.6 million in the third quarter of last year. On 30th September 2021, cash and cash equivalents totaled $17.0 million. The company reported gross debt of $403.0 million on 30th September 2021. On 31st December 2020, gross debt was $357.3 million.  

    Management Comments 

    Chief Executive Officer of TISI, Amerino Gatti, remarked that their top-line results did not reach expectations due to weather-related disturbances, third-quarter 2021 performance, uneven market recovery, and challenging business dynamics.  Their performance was also affected by a late start of fall turnaround projects and energy blackouts along the Gulf Coast from Hurricane Ida.

    They anticipate capitalizing on the recent market tailwinds while being focused on long-term strategic production. They remain inspired by the fundamental vision for their industry across all geographic regions. They will benefit from a robust market over the following years, concluded Mr. Gatti.  

  • Compugen Ltd. (CGEN) Stock Plunged 8.24% Pre-Market, Here’s Why                 

    Compugen Ltd. (CGEN) Stock Plunged 8.24% Pre-Market, Here’s Why                 

    Compugen Ltd. (CGEN) stock plummeted 8.24% in the pre-market trading session at the price of $6.57 after reporting its financial results for the third quarter of 2021.  

    CGEN is a clinical-stage discovery, design, and development firm. It utilizes its predictive computational discovery programs to identify innovative drug targets and generate therapies for cancer immunotherapy.  

    CGEN Third Quarter 2021 Earnings Report 

    On 12th November 2021, CGEN published its earnings report for the three months ended on 30th September 2021 and provided corporate updates.  

    CGEN Financial Highlights  

    CGEN calculated revenues of $6 million for the three months ended on 30th September 2021. The cost of revenue totaled $0.7 million for the third quarter of 2021. Research and development expenses were approximately $8.7 million for the third quarter ended 30th September 2021. R&D expenses were $5.5 million for the same quarter of 2020.  

    CGEN reported a net loss of $6.2 million, or per basic and diluted share of $0.07, for the third quarter of 2021. For the third quarter of 2020, a net loss was $7.8 million, or per basic and diluted share of $0.09. As of 30th September 2021, cash, short-term and long-term bank deposits totaled $102 million. On 31st December 2020, cash, short-term, and long-term bank deposits were $124 million.  

    Results from Dose Escalation Study of COM701 

    On 12th November 2021, CGEN announced preliminary results from its Phase 1/2 dose-escalation study of COM701, an anti-PVRIG antibody, combined with Opdivo and BMS-986207. The results had presented at the 36th Annual Meeting of the Society for Immunotherapy of Cancer from 10 to 14th November 2021. 

    Management Comments 

    President and chief executive officer of CGEN, Anat Cohen-Dayag, remarked that the favorable safety profile in the study of COM701 is a significant milestone. It has further advanced the development of their differentiated blockade of the DNAM axis. The company is passionate about the translational results that suggest that their triple blockage can bolster potent immune activation. These results align with their widespread preclinical models, he added.  

    President of Research and Early Development at Bristol Myers Squibb, Rupert Vessey, remarked that they are delighted to continue their partnership with CGEN to generate translational data about the DNAM axis. They look ahead to study the DNAM axis hypothesis of the triple blockade in select biomarker informed indications.

  • CSX Corporation (CSX) Stock Undergoes Minor Volatility, Here’s Why

    CSX Corporation (CSX) Stock Undergoes Minor Volatility, Here’s Why

    CSX Corporation (CSX) stock soared o.37% in the pre-market trading session at the price of $35.25 despite no fundamental reason. The last reported news was its financial results for the third quarter of 2021.  

    CSX is a leading transportation corporation. It provides intermodal, rail, and rail-to-truck transload solutions and services to energy, construction, industrial, and agricultural customers.  

    CSX Third Quarter 2021 Financial Results 

    On 20th October 2021, CSX announced its financial results for the third quarter of 2021 and provided corporate updates. On 20th October 2021, CSX reported net earnings of $968 million, or per share of $0.43, for the third quarter of 2021. Net earnings were $736 million, or per share of $0.32, for the third quarter of 2020.

    Revenue totaled $3.29 billion for the third quarter of 2021. It represents a gain of 24% from the same quarter of 2020.  For the third quarter of 2021, operating income grew 26% to $1.44 billion. The operating ratio totaled 56.4% for the third quarter of 2021. The company calculated an operating ratio of 56.9% in the third quarter of 2020. 

    Management Comments  

    Chief executive officer of CSX, James M. Foote, thanked all railroaders for their continued devotion toward their customers amidst the ongoing supply chain interruptions and challenges caused by the COVID-19 Delta variant. The company has dedicated itself to serve the clients to overcome supply chain constraints. They will continue to design new solutions to facilitate the delivery of critical goods to Americans, he added. 

    CSX Achieved Climate Leadership Award 

    Earlier on 14th October 2021, CSX announced that it was awarded the 2021 Climate Leadership Award by The Climate Registry and The Center for Climate and Energy Solutions. The award had presented in appreciation of the company’s dedication towards mitigating greenhouse gas emissions. The prestigious award has named the company as a sustainability leader among transportation companies all across American markets.  

    Senior Director of Public Safety, Health, and Environment, Raghu Chatrathi, remarked that CSX is pleased to receive this appreciation. It depicts the dedication and ability of their environmental team and their focus on the emission reduction policies, he added.

  • Stealth BioTherapeutics Corp (MITO) Stock Plunged 2.91% Pre-Market, Here’s Why         

    Stealth BioTherapeutics Corp (MITO) Stock Plunged 2.91% Pre-Market, Here’s Why         

    Stealth BioTherapeutics Corp (MITO) stock plummeted 2.91% in the pre-market trading session at the price of $1.00 after publishing its earnings report for the third quarter of 2021. MITO is a clinical-stage biotechnology firm that discovers, manufactures, and commercializes novel therapeutics to treat mitochondrial dysfunction.  

    MITO Third Quarter 2021 Financial Results 

    On 11th November 2021, MITO announced its earnings report for the three months ended 30th September 2021 and presented current business updates. 

    MITO Financial Highlights  

    On 30th September 2021, cash and cash equivalents totaled $42.3 million. Cash and cash equivalents were $32.8 million on 31st December 2020. Under its Development Funding Agreement, MITO received roughly $11.0 million of the remaining $27.0 million total due from Morningside in the second half of 2021. The company received additional financing of approximately $5.0 million in October 2021. It anticipates receiving the remaining $11.0 million on 1st December 2021.  

    For the three months ended 30th September 2021, MITO reported research and development expenses of $6.7 million. R&D expenses totaled $6.2 million for the third quarter of the previous year. For the third quarter ended 30th September 2021, general and administrative costs were $4.7 million, unchanged from the same quarter of 2020. 

    For the three months ended on 30th September 2021, MITO calculated the other income of $5.1 million. Other expenses were $0.3 million for the three months ended on 30th September 2020. Net loss totaled $6.3 million, or per basic and diluted ordinary share of $0.01, for the three months ended 30th September 2021. For the third quarter of 2020, net loss was $11.2 million, or per basic and diluted common share of $0.02. 

    Management Comments  

    Chief Executive Officer of MITO, Reenie McCarthy, remarked that they are delighted to expand their clinical development efforts with various new trial initiations in the upcoming months. They are excited about the potential of elamipretide for the treatment of extrafoveal geographic atrophy. The company is also moving forward with their clinical development efforts in various other rare disease indications. They are excited to bring SBT-272, the foundation of their neurology franchise, back into the clinic. The Phase 1 clinical trial of SBT-272 has expected to start next year, he added.

  • Paysafe Limited (PSFE) Stock Plunged 33.84% Pre-Market Here’s Why                

    Paysafe Limited (PSFE) plummeted 33.84% in the pre-market trading session at the price of $4.84 after announcing its financial results for the third quarter of 2021. 

    PSFE is one of the leading specialized payments networks. The company aims to facilitate clients and businesses to seamlessly transact through industry-leading capabilities in a digital wallet, payment processing, and cash solutions. 

    PSFE Third Quarter 2021 Financial Results 

    On 11th November 2021, PSFE published its earnings report for the third quarter ended on 30th September 2021 and presented corporate updates.  

    PSFE Financial Highlights  

    PSFE calculated net revenue of $353.6 million for the third quarter of 2021. It represents a drop of 1% from $355.5 million in the previous year same quarter. Net loss attributable to Paysafe was $147.2 million for the third quarter ended 30th September 2021. Net loss attributable to the company totaled $38.1 million in the third quarter of the previous year. Adjusted EBITDA was roughly $106.4 million for the third quarter of 2021. It is a drop of 1% from $107.3 million for the third quarter of the previous year.  

    For the third quarter ended 30th September 2021, PSFE reported an adjusted EBITDA margin of 30.1%. Adjusted EBITDA margin was 30.2% in the third quarter ended on 30th September 2020. Net cash from operating activities totaled $51.6 million for the third quarter of 2021. It represents a rise of 37% from $37.8 million in the same quarter of the prior year. Free cash flow for the third quarter of 2021 was $70.2 million. Free cash flow was $58.8 million in the third quarter ended on 30th September 2020. 

    Management Comments  

    Chief executive officer of PSFE, Philip McHugh, remarked that they had reported Adjusted EBITDA in range with their expectations during the third quarter. It indicates both business and performance challenges in the digital wallet market. Coupled with high delivery against the expense, their position to achieve higher growth and disruptive markets like crypto and online sports betting will continue to stimulate. They will continue to publish substantial momentum across all the businesses, he added.

  • Fossil Group, Inc. (FOSL) Stock Surged 38.95% After-Hours, Here’s Why

    Fossil Group, Inc. (FOSL) stock soared 38.95% in the after-hours trading session at the price of $19.23 after reporting its financial results for the Q3 ended 2nd October 2021.

    FOSL is a global design, distribution, marketing, and innovation firm. The company produces and commercializes lifestyle accessories under a diverse portfolio of both owned and licensed brands. Its offerings include smartwatches, traditional watches, handbags, jewelry, leather goods, belts, sunglasses, etc.

    FOSL Q3 2021 Financial Results

    On 10th November 2021, FOSL published its financial results for the Q3 ended 2nd October 2021 and presented corporate updates.

    FOSL Financial Highlights

    FOSL calculated net sales of $491.8M for the third quarter ended 2nd October 2021. It represents a gain of 11% in constant currency and 13% on a reported basis from $435.5 million in the same quarter of fiscal 2020. Gross profit was $259.5M for the Q3 of fiscal 2021. For the Q3 of fiscal 2020, gross profit totaled $229.8 million. The gross margin was flat during the quarter ended 2nd October 2021 compared to the previous year’s third quarter at roughly 52.8%.

    FOSL reported a net income of $31.4M for the Q3 ended 2nd October 2021. Net income was $16.0M in the same period ended 2nd October 2020. For the Q3 of 2021, net income per diluted share was $0.60. Net income per diluted share was $0.31 in the Q3 of the previous year. For the Q3 ended 2nd October 2021, operating income raised to $47.8 million. Operating income was $17.5 million in the same three months of the prior year. In the Q3 of 2021, the operating margin was 9.7% compared to 4.0% in the third quarter of 2020.

    FOSL reported operating expenses of $211.7M for the Q3 ended 2nd October 2021. Operating expenses totaled $212.3 million for the 3rd quarter ended 2nd October 2020. Selling, general and administrative expenses were approximately $205.7M for the Q3 of fiscal 2021. SG&A expenses were $202.0M in the third quarter of the previous year. For the 3rd quarter of 2021, adjusted EBITDA was 12.7% or $62.5 million of net sales. Adjusted EBITDA was 9.9% or $43.3M in the third quarter of 2020.

    FOSL totaled the adjusted operating income to $53.8M. Adjusted operating income was roughly $27.8 million in the Q3 of 2020. For the third quarter ended 2nd October 2021, the adjusted operating margin totaled 10.9%. Adjusted operating margin was 6.4% in the Q3 ended 2nd October 2020.