STOCKS TELEGRAPH

Author: Mahnoor Shah

  • Coursera Inc. (COUR) stock dwindle during premarket, following the financial results

    Coursera Inc. (COUR) stock dwindle during premarket, following the financial results

    Coursera Inc. (NASDAQ: (COUR) stock plunged by 2.62% at last close while the COUR stock price fell by 0.78% in the pre-market trading session. Andrew Ng and Daphne Koller, two Stanford Computer Science professors, founded Coursera in 2012 with the goal of providing universal access to best earning. With 92 million enrolled students as of September 30, 2021, it has become one of the world’s biggest internet learning platforms.

    COUR stock’ Financial Highlights

    Coursera announced its financial results for the third quarter of fiscal 2021. The summary is given below:

    • The company has generated a revenue of $109.9 million in the fiscal third quarter of 2021. This is an increase of 33% compared to $82.7 million a year ago.
    • Gross profit increased by 55 percent to $67.7 million, or 61.6 percent of revenue, from $43.7 million a year before. Non-GAAP gross profit increased 56 percent to $68.3 million, or 62.1 percent of revenue, from $43.8 million in the previous year’s same quarter.
    • In comparison to $11.9 million or 14.4% of revenue a year ago, the net loss for third-quarter fiscal 2021 was $32.5 million, or 29.5 percent of revenue. Non-GAAP net loss was $8.0 million, or 7.3 percent of revenue, down from $7.0 million, or 8.5 percent, a year ago.
    • Adjusted EBITDA came in at $3.1 million, or 2.9 percent of revenue, down from $4.3 million, or 5.2 percent, a year ago.
    • Operating activities generated $10.7 million in net cash, relative to $1.3 million in operating activities a year before. Free cash flow was $7.1 million, up from $4.2 million the previous year.

    Coursera CEO Jeff Maggioncalda commented,

    The ongoing eagerness with which corporations, campuses, and governments throughout the world are engaging in digital skills is reflected in their third-quarter success. Their newly introduced SkillSets and Academies, as well as their expanding range of Professional Certificates, are ideally positioned to meet the growing need for role-based learning between individuals and organizations.

    Future Outlook

    • The company expects its revenue to be between $109 to $113 million for the fourth quarter of fiscal 2021 and $409 to $413 million for the full year of fiscal 2021.
    • For the fourth quarter fiscal 2021 the adjusted EBTIDA is anticipated to be between $16.5 to $19.5 million and for the full year fiscal 2021, it will be between $32.5 to $35.5 million.
  • Caesars Entertainment, Inc. (CZR) stock moves down during after-hours, following financial earnings.

    Caesars Entertainment, Inc. (CZR) stock moves down during after-hours, following financial earnings.

    Caesars Entertainment, Inc. (NASDAQ: (CZR) stock plunged by 0.29% at the last close while the CZR stock price declines by 4.08% in the after-hours trading session. Caesars Entertainment, Inc. is the biggest casino-entertainment corporation in the United States, as well as one of the most varied casino-entertainment companies in the world. Caesars Entertainment has expanded through the creation of new resorts, expansions, and acquisitions since its founding in 1937 in Reno, Nevada.

    CZR stock’ Financial Highlights

    Caesars Entertainment announced its financial outcomes for the third quarter of 2021. Given below are the highlights.

    • The GAAP net income for the third quarter of 2021 was $2.7 billion whereas it was $1.4 billion for the third quarter of 2020.
    • The company has reported its GAAP net loss was $233 million for Q3 of 2021 relative to a net loss of $926 million for the third quarter of 2020.
    • Same-store Adjusted EBITDA was $882 million, compared to $433 million in the prior-year period.
    • Same-store Adjusted EBITDA of $1.0 billion, excluding the Caesars Digital unit, compared to $420 million in the prior-year period.

    Also,

    • Sandra Douglass Morgan has been appointed to the company’s Board of Directors, beginning November 7, 2021.
    • The company has produced a new CSR report that highlights ESG accomplishments and has been updated.

    Tom Reeg, CEO of Caesars Entertainment, stated,

    The third-quarter operating performance includes a new third-quarter EBITDA peak for their Las Vegas segment and an all-time quarterly EBITDA record for their regional segment. They are delighted by the early results of their rebranded Caesars Sportsbook launch, and they plan to expand into more states by the end of the year and in 2022.

    Bret Yunker, Chief Financial Officer commented,

    On a year-to-date basis, as of October 19th, 2021, they have returned a total of $975 million in traditional debt. The pro forma interest expenditure has been lowered by about $75 million on an annual basis when joined with the repricing and issuance of lower-cost debt during the third quarter. Solid operating cash flows and planned asset sale profits are expected to help them reduce the debt even more.

  • Despite a 63% rise in revenue, Digital Tribune Inc. (APPS) stock fell during after-hours trading.

    Despite a 63% rise in revenue, Digital Tribune Inc. (APPS) stock fell during after-hours trading.

    Digital Tribune Inc. (NASDAQ: (APPS) stock plunged by 1.64% at last close while the APPS stock declines by 7.01% in the after-hours trading session. Digital Turbine is the most widely used independent mobile development platform that allows marketers, publishers, carriers, and OEMs to compete on an equal footing.

    APPS stock’ Financial Highlights

    Digital Turbine has released its financial outcomes for the second quarter of the fiscal year 2022, which ended on September 30, 2021. Pro forma results, where available, the Company thinks, can offer investors with more appropriate year-over-year comparisons.

    • Revenue for the fiscal second quarter of 2022 was $310.2 million, a 338 percent year-over-year rise on an as-reported basis and a 63 percent year-over-year increase when opposed to the similar pro forma figure for the fiscal second quarter of 2021.
    • GAAP net loss for the fiscal second quarter of 2022 was $5.9 million, or ($0.06) per share, compared to $0.4 million, or $0.00 per share, in the fiscal second quarter of 2021, which included a $22.1 million fair value adjustment to contingent acquisition-related earn-outs.
    • In the fiscal second quarter of 2022, the company has calculated its non-GAAP adjusted net income as $45.3 million, or $0.44 per share whereas for the previous year’s same quarter the non-GAAP adjusted net income was $14.5 million, or $0.15 per share.
    • Non-GAAP adjusted EBITDA was $47.9 million in the fiscal second quarter of 2022, up 191 percent from $16.5 million from the previous year’s same quarter

    Future Expectations

    The company anticipates the following results for its third quarter of 2021. The outlook is based on the information available as of November 2, 2021.

    • APPS expects its revenue to be around $350 million to $355 million.
    • The Non-GAAP adjusted EBTIDA is expected to be around $53 million to $56 million.
    • Depending on roughly 105 million diluted shares outstanding and an effective tax rate of between 15% and 20% on non-GAAP net income, non-GAAP adjusted EPS of $0.41 to $0.44.

  • Transocean Inc. (RIG) stock fell during after-hours following the financial results.

    Transocean Inc. (NASDAQ: (RIG) stock gained by 6.52% at last close whereas the RIG stock price fell by 5.59% in the after-hours trading session. Transocean is an internationally renowned provider of oil and gas well offshore contract drilling expertise.

    RIG stock’ Financial Results

    Transocean announced the third quarter of 2021 financial outcomes on Nov1, 2021.

    • For the third quarter of 2021, Transocean recorded a net loss of $130 million, or $0.20 per diluted share, due to controlling interest.
    • The adjusted net loss for the third quarter of 2021 was $122 million, or $0.19 per diluted share, relative to $109 million, or $0.18 per diluted share, in the previous quarter.
    • Contract drilling revenues fell $30 million to $626 million in the three months ended September 30, 2021, owing to lower activity for two rigs that went inactive and one rig that started a scheduled shipyard stay during the third quarter.
    • Contract intangible loss related to the Songa and Ocean Rig acquisitions in 2018 resulted in a non-cash revenue drop of $57 million in both the third and second quarters.
    • Operating and maintenance costs came in at $398 million, down from $434 million the previous quarter. Reduced activity owing to idle rigs and decreased COVID-19-related expenditures drove the sequential drop, which was largely offset by the shipyard and contract process.
    • General and administrative expenses increased to $40 million in the second quarter of 2021, up from $39 million the previous quarter. Legal and professional expenses accounted for the majority of the increase.

    President and Chief Executive Officer, Jeremy Thigpen stated,

    He’d want to express my gratitude to the whole Transocean team for their unwavering commitment to providing their customers with safe, dependable, and efficient operations. They achieved excellent financial outcomes once again. Their outstanding uptime performance throughout the quarter resulted in a 98 percent revenue efficiency, leading to adjusted revenues of $683 million.

  • Despite a 12% rise in revenue, Chegg Inc. (CHGG) stock plunge during after-hours trading.

    Chegg Inc. (NASDAQ: (CHGG) stock gained by 5.59% at last close whereas the CHGG stock plunged by 29.09% in the after-hours trading session. Chegg helps millions of people to learn. They provide tools to help students master their course materials as they progress from high school to college and into their careers. The services are accessible online, at any time, and from any location.

    CHGG stock’ Financial Results

    Chegg announced its financial outcomes for the third quarter of 2021. The highlights are stated below:

    • The company has generated a revenue of $171.9 million for the third quarter of 2021, this is a rise of 12% y-o-y.
    • The net income for the third quarter of 2021 was $6.7 million.
    • CHGG has calculated its Non-GAAP net income as $33.9 million for the third quarter of 2021.
    • The Adjusted EBTIDA for the third quarter of 2021 was $46.4 million.

    Dan Rosensweig, CEO & President of Chegg, commented,

    They’ve seen incredible growth over the last year and a half, and in the middle of a successful year, they had a solid third quarter, expanding Chegg Services revenue by 23% year over year. Furthermore, it became evident to them in late September that the education business is facing a momentary slowdown, which they believe is a direct outcome of the COVID-19 outbreak. Given these tendencies, their staff maintains a high level of performance. Chegg is in a fantastic position to emerge from this stronger than ever and seize the opportunities that lie ahead.

    Future Expectations

    • For the fourth quarter of 2021, Chegg expects its revenue to be around $194 million to $196 million while for the full year 2021 revenue would be somewhere between $762 million to $764 million.
    • The gross margin for the fourth quarter and full-year is estimated to be around 70% to 71% and 65% to 66% respectively.
    • CHGG expects is adjusted EBTIDA to be between $67 million to $69 million for the fourth quarter of 2021 and for the full year of 2021 the adjusted EBTIDA will be between $255 million to $257 million.

  • Here’s to why DBV Technologies Inc. (DBVT) stock surge during pre-market?

    DBV Technologies Inc. (NASDAQ: DBVT) stock gains by 14.19% in the pre-market trading session. DVB Technologies, based in Bagneux, France, is a publicly-traded French pharmaceutical company. DBV Technologies is notable for developing “Viaskin” technology, which allows allergens or antigens to be administered to intact skin without transferring to the bloodstream.

    DBVT stock’ Significant Update

    New clinical trial data on the usage of Viaskin Peanut (DBV712) 250 g in children will be discussed at the American College of Allergy, Asthma & Immunology (ACAAI) Annual Scientific Meeting, Nov. 4-8, 2021, according to DBV Technologies. Two abstracts were accepted, one for an oral presentation and the other for a poster presentation. For those who are not able to attend, these presentations will be posted on DBV’s website, following the meeting’s completion. In addition, DBV will be there in the ACAAI exhibit hall.

    New long-term findings from the Phase 3 REALISE (REAL Life Use and Safety of EPIT) research in children 4-11 years of age, demonstrating Viaskin Peanut’s safety over three years and possible impact on health-related quality of life will be discussed (HRQL).

    Dr. Pharis Mohideen, Chief Medical Officer of the company commented,

    These findings reported at ACAAI add to their knowledge and excitement about Viaskin Peanut’s potential real-world application if it is permitted. As they pursue clinical development, they remain optimistic about Viaskin Peanut’s potential and motivated by the desire to provide patients and their families with much-needed therapeutic choices.

    Furthermore,

    DBV has also sponsored the 30th Annual FIT Bowl, a game show-style competition that puts teams from fitness programs across the country to the test.

    The Company’s flagship product candidate, Viaskin Peanut, is meant to minimize the chances of allergic responses caused by inadvertent exposure to peanuts. Viaskin Peanut is an investigational non-invasive, once-daily epicutaneous patch that aims to re-educate the immune system by delivering microgram levels of peanut antigen. DBV’s proprietary epicutaneous immunotherapy (EPIT) technique, Viaskin Peanut, is a way of administering biologically active chemicals to the immune system through the skin.

  • Nautilus, Inc. (NLS) stock surged during pre-market trading, here’s what’s happening

    Nautilus, Inc. (NLS) stock surged during pre-market trading, here’s what’s happening

    Nautilus, Inc. (NASDAQ: (NLS) stock gained by 0.79% at last close while the NLS stock price soars by 5.96% in the pre-market trading session. Nautilus is an international leader in home fitness products that are digitally connected. Bowflex, Nautilus, Schwinn, and JRNY, the company’s digital fitness platform, are among the company’s brands.

    NLS stock’ Upcoming Event

    Nautilus reported that after the market will close on November 9, 2021, the company will release its financial outcomes for the second quarter ending September 30, 2021.

    NLS stock’ Recent Development

    Kelley Hall, Senior Vice President and Chief Financial Officer at REI, and Shailesh Prakash, Chief Information Officer and Vice President of Digital Product Development at The Washington Post, have been hired to Nautilus’ Board of Directors, beginning October 21, 2021.

    Ms. Hall and Mr. Prakash’s hiring come at a critical time for the company as it implements its long-term business plan. Ms. Hall has extensive experience guiding financial strategy and operating omnichannel ecosystems at a number of well-known organizations, including REI, the country’s largest consumer cooperative. Mr. Prakash brings extensive technical and digital strategy expertise, as well as experience leading various digital growth transformations, including the transfer to and use of subscription business models.

    Ms. Hall is the Senior Vice President and Chief Financial Officer of REI, the country’s biggest consumer cooperative, where she is in charge of financial planning and analysis. Mr. Prakash, on the other hand, is the Washington Post’s Chief Information Officer and Vice President of Digital Product Development, where he is in charge of all elements of product development and innovation, such as web, mobile, video, print, and advertising.

    Carl Johnson, III, Chairman of Nautilus, Inc. stated,

    Kelley and Shailesh are wonderful additions to their Board of Directors. Their financial and technological backgrounds will be crucial in furthering their North Star strategic ambitions and boosting the company’s innovation and progress in connected home fitness.

  • E-Home Household Service Holdings Ltd. (EJH) stock rose during pre-market, given no update.

    E-Home Household Service Holdings Ltd. (NASDAQ: EJH) stock gained by 0.37% at the last close while the EJH stock price surged by 5.56% in the pre-market trading session. E-Home Household Service Holdings Limited is a Fuzhou-based household service provider. The company offers comprehensive household services through its website and WeChat platform.

    EJH stock’ Recent Past Development

    E-Home Household Service Holdings Limited revealed that E-Home Household Service Technology which is its indirectly fully owned Chinese subsidiary has exerted its options to purchase 100 percent equity interests in Fuzhou Bangchang Technology Co. Ltd. and Pingtan Comprehensive Experimental Area E Home Service. These are the Company’s two variable interest entities (VIEs), which are owned by the VIEs’ shareholders. Mr. Wenshan Xie who is the Company’s Chairman and Chief Executive Officer beneficially hold more than half of each VIE.

    E-Home WFOE and Fuzhou Bangchang and Fuzhou Bangchang’s shareholders signed an important option deal on February 20, 2019. Fuzhou Bangchang’s shareholders gave E-Home WFOE or its designee(s) exclusive, irrevocable choices to acquire all or a portion of Fuzhou Bangchang’s equity interests at a principal amount of RMB 10 in the aggregate as a result of this agreement.

    Furthermore,

    E-Home WFOE used its purchase options on October 18, 2021, and signed into stock transfer deals with Fuzhou Bangchang, E-Home Pingtan, and their respective shareholders. Under the terms of the agreement, the shareholders decided to transfer all of their equity interests in Fuzhou Bangchang and E-Home Pingtan to E-Home WFOE. Both sides agreed that the transactions contemplated by the equity transfer agreements would close on the date on which the parties had completed the necessary PRC government registrations to put through the equity interest transfers.

    Mr. Wenshan Xie, Chairman, and CEO of the Company stated,

    They believe that removing the VIE structure will strengthen E-corporate Home’s governance and transparency. They’ll keep working hard to provide value to both their customers and stockholders.

  • Medicenna Therapeutics Inc. (MDNA) stock fell during after-hours, here’s what’s happening?

    Medicenna Therapeutics Inc. (MDNA) stock fell during after-hours, here’s what’s happening?

    Medicenna Therapeutics Inc. (NASDAQ: (MDNA) stock plunged by 10.67% in the after-hours trading session. Medicenna is a clinical-stage immunotherapy firm dedicated to developing innovative, incredibly selective IL-2, IL-4, and IL-13 Superkines, as well as first-in-class Empowered Superkines.

    MDNA stock’ Recent Development

    The US Food and Drug Administration (FDA) has approved Medicenna Therapeutics’ investigational new drug (IND) request to let them broaden their MDNA1’s Phase 1/2 ABILITY (A Beta-only IL-2 ImmunoTherapY) research. It’s a long-acting, “beta-only” IL-2 super-agonist that the firm is bringing to clinical testing sites in the United States. Patients are now being enrolled in the ABILITY Study at clinical testing locations in Australia, with regulatory submissions to broaden the trial to sites in Canada and the United Kingdom likely to be finalized this calendar year.

    The ABILITY Study will evaluate the security, pharmacokinetics (PK), pharmacodynamics (PD), and anti-tumor efficacy of different dosages of MDNA11 given intravenously. It contains an MDNA11 monotherapy arm as well as a combination arm aimed to investigate MDNA11 with a checkpoint inhibitor in people with severe, relapsed, or resistant solid malignancies.

    The ABILITY Study is intended to enroll approximately 80 individuals. After the development of the suggested Phase 2 dose (RP2D) and therapy plan in the study’s dose-escalation phase, Medicenna expects to register patients with renal cell carcinoma, melanoma, and other solid tumors in monotherapy and combination settings.

    Dr. Fahar Merchant, President, and CEO of Medicenna stated that,

    The approval of our IND application is a significant achievement that contributes to our MDNA11 program’s good momentum. The expansion of the ABILITY Research to the United States is expected to speed up enrolment and move the study closer to crucial findings at the end of 2021 and mid-2022. MDNA11’s distinct “beta-only” strategy to attacking the IL-2 receptor, they believe, has the power to tackle the drawbacks of existing “not-alpha” IL-2 medicines. They also anticipate publishing on the possible benefits of their approach when the trial progresses to the dose-expansion and combination stages.

  • Pegasystems Inc. (PEGA) stock declined during after-hours, here’s to know why?

    Pegasystems Inc. (NASDAQ: (PEGA) stock gained by 0.35% at last close whereas the PEGA stock price fell by 7.35% in the after-hours trading session. The company has recently announced its financial outcomes for the third quarter of 2021. Pega develops cutting-edge software that reduces business complexity, allowing its clients to make smarter decisions and complete tasks faster. They work with the world’s most well-known businesses to address their most pressing business issues, such as increasing client lifetime value, optimizing customer service, and improving operational efficiency.

    PEGA stock’ Financial Highlights

    Pegasystems announced its financial results for the third quarter of 2021. Given below is the summary:

    • The company has generated a revenue of $256.27 million for the third quarter of 2021 compared to the revenue of $225.95 million in the third quarter of 2020. This is an increase of 13%.
    • The GAAP net loss for the third quarter of 2021 was $56,468 whereas it was $19,267 for the third quarter of 2020, it’s a rise of 193%.
    • The GAAP net income for the third quarter of 2021 was $32,860 compared to $26,701 for the third quarter of 2020, a surge of 23%.

    Alan Trefler, founder and CEO of, Pegasystems stated,

    Digital transformation is being pursued with enthusiasm by sophisticated enterprises. Organizations understand that they must adjust to meet today’s demands while also planning for the inevitable changes that will occur in the future. They help their clients conquer business complications with solutions built on a low-code framework and a result-oriented workflow methodology that allows them to operate better, easier, and faster in an uncertain world. He is excited about how Pega’s highly differentiated product is satisfying their needs.

    Ken Stillwell, COO, and CFO, Pegasystems commented,

    It’s fantastic to see total ACV increase by 22% year over year in Q3 2021, thanks to Pega Cloud Choice once again. Their final findings for the first three quarters of this year show that the digital revolution is a top priority for their clients all over the world.