STOCKS TELEGRAPH

Author: Shariq Khan

  • Nine Energy Service, Inc. (NINE) stock surged in the current market; here is why?

    Nine Energy Service, Inc. (NINE) stock surged in the current market; here is why?

    Nine Energy Service, Inc. (NINE) saw a boost in the current market after announcing the date for the release of its fourth-quarter financial results. NINE is currently trading at $2.60, representing a gain of more than 44 percent over Friday’s closing price. At the end of the most recent trading session, the stock traded at $1.80. The volume of shares exchanged in the previous trading session was around 552.84K. The company has a current market capitalization of approximately $59.09 million at the time of this writing.

    NINE: Reason for the stock gain

    Nine Energy Service, Inc. (NINE) announced today in a news release that the business will have an earnings presentation on Tuesday, March 8, 2022, to discuss its fourth-quarter financial results. After reporting results for the third quarter of 2020, the company predicted no change in sales or a minor increase in revenue for the fourth quarter of the same year.

    Another possible explanation is that the demand for its US-based energy company must have surged due to the west’s decision to reduce its reliance on Russian oil and energy. Following Russia’s invasion of Ukraine, the decision was made. Due to this reason, many oil and gas companies have seen a surge in their stock during the past few days.

    NINE: Q3 Highlights

    • During the third quarter of 2021, Nine Energy Service, Inc. (NINE) reported revenues of $92.9 million.
    • The company suffered a net loss of approximately $(16.1) million during the third quarter.
    • NINE’s basic loss per share was $(0.53) in the third quarter.
    • Nine Energy Service had an adjusted EBITDA of $4.5 million.
    • The company’s adjusted net loss for the third quarter of 2021 was $(15.7) million, or $(0.51) adjusted basic loss per share for the quarter.

    Conclusion

    The rising global supply chain disruption in the energy sector has caused to increase its demand for the US-based energy company. Also, the company is expecting a slight increase in its revenue due to these two reasons the stock rallies in the current market today.

  • Bed Bath & Beyond Inc. (BBBY) stock is soaring today; here is why?

    Bed Bath & Beyond Inc. (BBBY) stock is soaring today; here is why?

    Bed Bath & Beyond Inc. (BBBY) gained in the current market today after Ryan Cohen’s RC ventures announced its 9.8% stake in the company. BBBY values at $26.94, gaining more than 66.49% compared to yesterday’s closing price. The stock closed at $16.18 at the end of the last trading session. The stock volume traded in the previous trading session was around 5.92 million shares. The current market cap of the company is about $1.56 billion.

    RC Ventures announced a stake in BBBY

    Ryan Cohen’s investment company announced today that they have a 9.8% stake in BBBY and suggested that BBBY should sell their business to a suitable buyer or at least sell its baby products business. RC ventures suggest that BBBY should consider selling the whole company after it announced its stake in the company.

    Management Comments on the letter from RC Ventures LLC

    In response to the letter from RC Ventures LLC to the Board of Directors of Bed Bath & Beyond Inc. (BBBY) that was received yesterday evening, the company today issued the following statement.

    In response to the letter from RC Ventures LLC, management stated that Bed Bath & Beyond’s Board of Directors and management team maintain a consistent dialogue with our shareholders. While we have not previously communicated with RC Ventures, we will carefully review their letter and hope to engage constructively around the ideas they have put forward.

    Furthermore, the management stated that the board of directors is committed to acting in the best interests of our shareholders and that the board analyses all avenues for increasing shareholder value regularly. We celebrated the completion of our ambitious multi-year transformation strategy in 2021, which we believe will result in significant long-term shareholder value creation.

    BBBY: Key Financials

    • In the end, net sales of $1.88 billion fell by 28%, as sales of non-core banners were reduced by 14% due to planned divestitures, and sales of Core1 banners fell by 14% as well.
    • BBBY reported a gross margin of 35.6% and an adjusted gross margin of 35.9%.
    • BBBY’s net loss was around $276.43 million.
    • The quarter’s net loss per diluted share was ($2.78), with special items totaling ($2.53).

    Conclusion

    Bed Bath & Beyond Inc. (BBBY) skyrocketed after it got a suggestion of selling the whole company by RC Ventures. The company has missed its sales targets in Q3 and has lowered its expectation for fiscal 2021.

  • Atreca, Inc. (BCEL) surged in the current market; here is why?

    Atreca, Inc. (BCEL) surged in the current market; here is why?

    Atreca, Inc. (BCEL) gained in the current market after announcing its participation in Cowen’s 42nd Annual Healthcare Conference. BCEL values at $2.36, gaining more than 41.34% compared to yesterday’s closing price. The stock closed at $1.67 at the end of the last trading session. The stock volume traded in the previous trading session was around 323.95k shares. The current market cap of the company is about $85.45 million.

    BCEL: Newz Update

    In a press release today, Atreca, Inc. (BCEL) announced that John Orwin, President, and CEO, would participate in a panel discussion at Cowen’s 42nd Annual Healthcare Conference. The Cowen’s 42nd Annual Healthcare Conference will be happening on March 7-9, 2022.

    BCEL: Key Financials

    • R&D expenses in fiscal 2021 were $78.3 million. R&D in the fourth quarter was around $22.2 million.
    • General and administrative expenses in fiscal 2021 were $32.0 million and $7.3 million in the fourth quarter.
    • BCEL reported a net loss of around $109.3 million in fiscal 2021. The company reported a $29.5 million net loss in the fourth quarter.
    • EPS in fiscal 2021 was $2.95 and 0.79 in the fourth quarter.

    BCEL: ATRC-101 Update

    Among patients with certain solid tumor malignancies, the Phase 1b trial will be the first human evaluation of ATRC-101. In the monotherapy and combination dose-escalation groups, ATRC-101 was well tolerated, with no dose-limiting toxicities reported. On average, 6 (34%) of the 47 individuals had an adverse event of grade 3. (AE). Participation is still open in the Q3W and Q2W monotherapy and pembrolizumab combination cohorts. It expects to start participant selection based on target expression in 2Q22. 2H22 data for monotherapy and combination are expected from Atreca.

    Conclusion

    The stock of the company is gaining in today’s trading session. Investors responded positively to its participation in Cowen’s 42nd Annual Healthcare Conference. The stock is also gaining due to its update on ATRC-101 and Q4 and fiscal 2021 results.

  • VEON Ltd. (VEON) surged in the current market; here is why?

    VEON Ltd. (VEON) surged in the current market; here is why?

    VEON Ltd. (VEON) gained in the current market after announcing the winning of the Global Mobile Award 2022. Its stock values are at $0.40, gaining more than 52.09% compared to yesterday’s closing price. The stock closed at $0.26 at the end of the last trading session. The stock volume traded in the previous trading session was around 17.85 million shares. The current market cap of the company is about $1.38 billion.

    VEON: Winner of Global Mobile Awards 2022

    The company has announced that its MobileID Service has won the Global Mobile Awards 2022 award for Best Mobile Operator Service for Connected Consumers. On March 2nd, 2022, at the Mobile World Congress in Barcelona in the Global Mobile Awards.

    The GSMA’s universal identity service, Mobile Connect, has constructed VEON’s MobileID. Customer authentication would not need any password. Using the Permission Centre module, users can manage and restrict rights previously granted to service providers, such as filling out credit application forms. A device’s SIM card is used to implement MobileID, allowing it to work on any handset, even feature phones.

    VEON CEO’s Remarks

    VEON CEO Kaan Terziolu expressed his joy at winning the Best Mobile Operator Service for Connected Consumers award. An industry-wide effort to ensure client data is protected and kept by licensed, regulated, and the Global Mobile Awards have recognized locally-based service providers. We will actively promote its use through operator acceptance and interoperability agreements.

    Conclusion

    The company is amongst Ukraine’s most extensive mobile networks. The current emergency in Ukraine has caused businesses to halt. The pandemic has already taken a toll on the company’s stock value. Despite reporting a strong financial statement for the fourth quarter of fiscal 2021, the stock has continued to drop. However, the company’s stock has risen in today’s trading session due to the company’s news that it had won the Global Mobile Awards 2022.

  • STMicroelectronics N.V. (STM) stock declined in the Pre-market; here is why?

    STMicroelectronics N.V. (STM) stock declined in the Pre-market; here is why?

    STMicroelectronics N.V. (STM) is declining in the current market today after making two announcements in a press release. STM values at $37.42, declining more than 7.28% compared to yesterday’s closing price. The stock closed at $40.36 at the end of the last trading session. The stock volume traded in the previous trading session was around 4.41 million shares. The current market cap of the company is about $36.60 billion.

    STM: Loan from EIB

    STMicroelectronics N.V. (STM) announced two press releases on March 2, 2022, that STMicroelectronics has received a €600 million loan from the European Investment Bank (EIB) to boost its research and development (R&D) and pre-industrialization efforts in Europe.

    Research and development (R&D) and the development of new, cutting-edge technology will benefit from this loan. A primary objective of the European Union and its member states is to promote the European semiconductor sector. This financing will help the European semiconductor industry maintain its technological independence.

    In a second press release, the company also announced that it was designated one of the Top 100 Global Innovators for 2022. The yearly list from Clarivate Analytics, which recognizes ST’s position among the world’s most innovative firms, serves as a benchmark for driving global innovation by evaluating excellence in innovativeness on an unprecedented scale and with extraordinary consistency over time.

    STM CEO’s Remarks

    STMicroelectronics President and CEO Jean-Marc Chéry said the new loan from the EIB, with whom STMicroelectronics has a long-standing collaboration, complements existing industry assistance instruments. For example, the European Commission and the Member States are now establishing IPCEIs. Collaboration with the diverse European ecosystems is critical. ST will continue developing and manufacturing groundbreaking technologies and products in Europe. It will help all industries migrate to a digital economy and achieve 20% global manufacturing in Europe by 2030.

    Conclusion

    The stock is declining after being given a loan of €600 million. This will have a massive impact on the company’s balance sheet. If the company manned to create a completive edge in its technology with the help of this money, then it will have far better results.

  • Grab Holdings Limited (GRAB) stock plunged in the current market; here is why?

    Grab Holdings Limited (GRAB) stock plunged in the current market; here is why?

    Grab Holdings Limited (GRAB) declined in the current market after announcing its fourth quarter and fiscal 2021 results. GRAB values at $3.64, losing more than 30.31% compared to yesterday’s closing price. The stock closed at $5.23 at the end of the last trading session. The stock volume traded in the previous trading session was around 27.45 million shares. The current market cap of the company is about $13.73 billion.

    GRAB: Q4 and Fiscal 2021 Key Financials

    • Grab Holdings Limited’s revenue in Q4 2021 was $122 million. It is a decrease of around half compared to the revenue of $219 million in Q4 2020. 
    • Fiscal 2021 revenue was $675 million, more than the revenue of $469 million in fiscal 2020. 
    • The company’s net loss in Q4 2021 was around $1.1 billion, a massive loss compared to the net loss of $635 million in Q4 2020.
    • GRAB’s net loss in fiscal 2021 was around $3.55 billion, and profitability decreased massively compared to the net loss of $2.7 billion in fiscal 2020.
    • Grab Holdings Limited’s Q4 gross merchandise volume (GMV) increased by 26 percent year on year to $4.5 billion, while its 2021 GMV increased by 29 percent year on year to $16.1 billion.

    GRAB CEO’s Remarks

    The company’s CEO and co-founder, Anthony Tan, remarked that despite the more difficult circumstances brought on by the Delta and Omicron variants, 2021 was the company’s most incredible year ever. Growth in both GMV and Revenues, as well as in Adjusted EBITDA margins, demonstrates the super app’s robustness and increasing significance.

    GRAB 2022 Outlook

    For each quarter from Q2 through Q4 of 2022, Grab Holdings estimates GMV growth of 30-35% YoY, depending on the COVID-19 situation. By the first half of 2023, Grab is on track to break even in its core food delivery Segment Adjusted EBITDA, and by the end of 2023, it is on its way to breaking even in its deliveries Segment. A steady-state Adjusted EBITDA margin of 12% in transportation and 3 % in deliveries are long-term goals for Grab.

    Conclusion

    The stock is down due to the decline in the quarterly revenues. It is caused by the company’s massive promotional offers and higher driver incentives investments in the largest ride-hailing and food delivery business. 

  • Rimini Street, Inc. (RMNI) stock surged in the current market; here is why?

    Rimini Street, Inc. (RMNI) stock surged in the current market; here is why?

    Rimini Street, Inc. (RMNI) gained in the current market after announcing its fourth quarter and fiscal 2021 results. RMNI values at $5.89, gaining more than 30.02% compared to yesterday’s closing price. The stock closed at $4.53 at the end of the last trading session. The stock volume traded in the previous trading session was around 816.43K shares. The current market cap of the company is about $505.99 million.

    RMNI: Q4 and Fiscal 2021 Key Financials

    • Rimini Street, Inc.’s revenue in Q4 2021 was $99.3 million. It is an increase of more than 13% compared to the revenue of $87.8 million in Q4 2020.
    • Fiscal 2021 revenue was $374.4 million, 14.6% more than the revenue of $326.8 million in fiscal 2020.
    • The company’s net income in Q4 2021 was around $70.1 million, a massive gain compared to the net income of $2.5 million in Q4 2020.
    • RMNI net income in fiscal 2021 was around $75.2 million, and profitability improved massively compared to the net income of $11.6 million in fiscal 2020.
    • The Q4 2021 diluted earnings per share were $0.77, compared to the earnings per share of $0.06 in Q4 2020.
    • For fiscal 2021, the diluted earnings per share were $0.51, compared to $0.21 in fiscal 2020.

    RMNI CEO’s Remarks

    According to co-founder, CEO, and chairman of the board, Seth A. Ravin, Rimini Street achieved record revenue surpassing forecast, margin growth, robust revenue retention, and cash flow creation. We see a lot of potential for Rimini Street’s growing enterprise’s software support solutions portfolio. We are working hard to launch, sell and deliver them to new and current customers internationally.

    RMNI 2022 Outlook

    According to Rimini Street’s forecasts, revenue expectation for the first quarter of 2022 is in the range of $95.0 million to $96.0 million. The firm expects its total revenue for 2022 to be in the range of $400.0 million to $410.0 million.

    Conclusion

    Rimini Street, Inc. (RMNI) showed promising performance in fiscal 2021. The company secured some big corporate clients, including Mitsubishi Corporate Life Sciences, Philippines Airlines, Korean Air, Open Universities Australia, and many others. The company’s revenue and net income increased by an impressive percentage, due to which investors are taking an interest in RMNI, and it is gaining in today’s regular trading session.

  • Canaan Inc. (CAN) surged in the current market; here is why?

    Canaan Inc. (CAN) surged in the current market; here is why?

    Canaan Inc. (CAN) gained in the current market after announcing its unaudited fourth quarter and fiscal 2021 results. CAN values at $6.01, gaining more than 12% compared to yesterday’s closing price. The stock closed at $5.41 at the end of the last trading session. The stock volume traded in the previous trading session was around 3.18 million shares. The current market cap of the company is about $1.06 billion.

    CAN: Q4 and Fiscal 2021 Key Financials

    • Canaan Inc.’s revenue in Q4 2021 was RMB 2,184 million. It is an increase of more than 65.8% compared to the revenue of RMB 1,317.6 million in Q4 2020.
    • Fiscal 2021 revenue was RMB 4,986.7 million, more than the revenue of RMB 447.7 million in fiscal 2020.
    • The company’s net income in Q4 2021 was around RMB 1,196.5 million, less than compared to the net loss of RMB 72 million in Q4 2020.
    • CAN net income in fiscal 2021 was around RMB 2,000.3 million, and profitability improved significantly compared to the net loss of RMB 215.1 million in fiscal 2020.
    • The Q4 2021, the diluted earnings per share were 7.13 cents.
    • For fiscal 2021, the diluted earnings per share were 12.27 cents.

    CAN 2022 Outlook

    Net revenue of Q4 2022 for Canaan Inc. (CAN) is forecasted to be in the range of RMB 1.50 billion to RMB 1.60 billion (year-over-year growth of 275% to 300%). These projections are based on Canaan’s current and preliminary market and operating circumstances assessments.

    Changes in Managerial Positions

    On March 3, 2022, Mr. Shaoke Li, the Company’s Secretary, resigned for personal reasons and will continue to act as a consultant to enable a seamless transition. Ms. Lu Meng will fill Mr. Li’s role as Board Secretary.

    Conclusion

    The stock gained significantly after announcing its financial statements. The rise in revenue and profitability made the investors take an interest in its stock. Due to this, its stock is gaining today.  The company is looking forward to entering 2022 with great momentum and delivering better results in 2022.

  • ChemoCentryx, Inc. (CCXI) stock plunged in the current market; here is why?

    ChemoCentryx, Inc. (CCXI) stock plunged in the current market; here is why?

    ChemoCentryx, Inc. (CCXI) declined in the current market after announcing its fourth quarter and fiscal 2021 results. CCXI values at $23.39, losing more than 20.60% compared to yesterday’s closing price. The stock closed at $29.46 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.25 million shares. The current market cap of the company is about $1.59 billion.

    CCXI: Q4 and Fiscal 2021 Key Financials

    • ChemoCentryx, Inc.’s revenue in Q4 2021 was $2.3 million lower than compared to the revenue of $4.3 million in Q4 2020.
    • Fiscal 2021 revenue was $32.22 million, less than the revenue of $64.8 million in fiscal 2020.
    • As of the fourth quarter of 2021, the company’s R&D costs were $18.8 million, compared to $21.2 million for the same quarter in 2020.
    • Compared to the $77.9 million spent in research and development in 2020, the entire 2021 expenditures were $83.0 million.
    • The company’s net loss in Q4 2021 was around $40.5 million, more significant than compared to the net loss of $29.8 million in Q4 2020.
    • CCXI’s net loss in fiscal 2021 was around $131.7 million; net loss increased by more than twice compared to the net loss of $55.3 million in fiscal 2020.
    • The Q4 2021 basic and diluted loss per share was $0.58, more than compared to the loss per share of $0.43 in Q4 2020.
    • For fiscal 2021, the basic and diluted loss per share was $1.89, compared to a loss per share of 0.84 in fiscal 2020.

    CCXI CEO’s Remarks

    ChemoCentryx’s President and CEO, Thomas J. Schall, Ph.D., said that in 2021, we became an integrated US biopharmaceutical enterprise: one that finds develops, and now distributes new medicines of our own making. TAVNEOS was approved and marketed in the US in October, and the number of patients start forms, patients on medicine, and unique and repeat prescribers is expanding.

    Conclusion

    The company didn’t provide any guidance for 2022. The company’s stock is declining due to severe losses in fiscal 2021. Although the company launched TAVNEOS this year, the company’s net loss increased by a considerable number.

  • Abercrombie & Fitch Co. (ANF) stock declined in the current market; here is why?

    Abercrombie & Fitch Co. (ANF) declined in the current market after announcing its fourth quarter and fiscal 2021 results. ANF values at $29.78, losing more than 16% compared to yesterday’s closing price. The stock closed at $35.85 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.72 million shares. The current market cap of the company is about $2.15 billion.

    ANF: Q4 and Fiscal 2021 Key Financials

    • Abercrombie & Fitch Co.’s revenue in Q4 2021 was $1.16 billion. It is a slight gain in comparison to the revenue of $1.12 billion in Q4 2020.
    • Fiscal 2021 revenue was $3.7 billion, more than the revenue of $3.12 billion in fiscal 2020.
    • The company’s net income in Q4 2021 was around $67.8 million, less than compared to the net income of $85.2 million in Q4 2020.
    • ANF’s net income in fiscal 2021 was around $270 million, and profitability improved significantly compared to the net loss of $108.9 million in fiscal 2020.
    • The Q4 2021 diluted earnings per share were $1.12, less than compared to the eps of $1.27 in Q4 2020.
    • For fiscal 2021, the diluted earnings per share were $4.20, compared to a loss per share of $1.82 in fiscal 2020.

    ANF CEO’s Remarks

    Fran Horowitz, the CEO, said that 2021 highlights major changes made to improve our basis and boost profitability. Net sales of $3.7 billion, 47% digital penetration, double-digit AUR growth, $343 million reported and $355 million adjusted operating income, and a 9.6% adjusted operating margin,are our best in over a decade. We also reduced our ending share count by 15% by returning monies to shareholders.

    ANF 2022 Outlook

    Abercrombie & Fitch Co. (ANF) forecasts revenue growth of 2 to 4 percent in 2022 from $3.7 billion in 2021, with the US continuing to outperform EMEA and APAC. The company estimates that the revenue growth and the number of stores will fuel the rise. Net sales for the first quarter of fiscal 2022 are expected to rise by low-single digits compared to the first quarter of fiscal 2021, which was $781 million.

    Conclusion

    The company expects significant growth in the business in the upcoming fiscal. The business was slightly disturbed by the new Omicron variant surge, but the company regained the loss at the end of January 2022.