STOCKS TELEGRAPH

Author: Shariq Khan

  • Purple Innovation, Inc. (PRPL) declined in the current market; here is why?

    Purple Innovation, Inc. (PRPL) declined in the current market after announcing its fourth quarter and fiscal 2021 results. PRPL values at $5.56, losing more than 2.88% compared to yesterday’s closing price. The stock closed at $5.73 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.98 million shares. The current market cap of the company is about $383.50 million.

    PRPL: Q4 and Fiscal 2021 Key Financials

    • Purple Innovation, Inc.’s revenue in Q4 2021 was $186.4 million. It is an increase of more than 7.2% compared to the revenue of $173.9 million in Q4 2020.
    • Fiscal 2021 revenue was $726.2 million, 12% more than the revenue of $648.5 million in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $21.8 million, less than compared to the net loss of $73.5 million in Q4 2020.
    • PRPL net income in fiscal 2021 was around $3.9 million, and profitability improved significantly compared to the net loss of $229.8 million in fiscal 2020.
    • The Q4 2021 adjusted loss per share was $0.35, compared to a net loss of $0.07 in Q4 2020.
    • For fiscal 2021, the adjusted loss per share was $0.19, compared to $0.79 in fiscal 2020.

    PRPL New CEO Appointment

    Robert DeMartini has been named the new Chief Executive Officer of the company, effective upon completing an updated and restated employment agreement.

    PRPL 2022 Outlook

    The Company presently estimates full-year revenue of $790 to $830 million in 2022, increasing 8% to 14% over 2021. In 2022, adjusted EBITDA is estimated to be between $26 and $33 million, compared to $11.0 million in 2021. The Company presently forecasts revenue of $125-$135 million and adjusted EBITDA of $(26)-$(20) million for the first quarter of 2022.

    Conclusion

    Purple Innovation, Inc. (PRPL) declined following the announcement of the Q4 and fiscal 2021, along with the appointment of a new CEO. In December 2021, DeMartini was named as Interim Chief Executive Officer.

  • VEON Ltd. (VEON) stock gained in the Pre-market; here is why?

    VEON Ltd. (VEON) gained in the pre-market after announcing the resignation of Mr. Fridman, the director of BoD. VEON values at $0.42, gaining more than 10.53% compared to yesterday’s closing price. The stock closed at $0.38 at the end of the last trading session. The stock volume traded in the previous trading session was around 10.82 million shares. The current market cap of the company is about $1.11 billion.

    VEON: Resignation of the Director of Board of Director

    The company announced a recent change in the managerial position today. The company announced in a press release that Mr. Fridman has decided to resign from his position as a director of the VEON Board of Directors, effective February 28, 2022. The news is followed by the recent announcement of its fourth-quarter results, which was an incredible quarter.

    VEON: Q4 Key Highlights

    The company reported revenue of $2.05 billion compared to the revenue of $1.82 billion. The increase is around 11.1% YoY.

    The company reported a net income of $801 million in Q4 compared to the net loss of $315 million in the same period last year. The positive change in profitability in the trailing twelve months is phenomenal.

    The announcement recently showed its intention to shift its parent company group to the U.K. The company also announced its Russian Beeline mobile operator collaboration with Yandex.

    VTB Bank told the firm on February 17, 2022, that its subsidiary had entered into a seven-year RUB 30 billion (up to $400 million) loan with the bank. VEON Holdings B.V is guaranteeing the loan.

    Conclusion

    VEON Ltd. (VEON) is amongst Ukraine’s most extensive mobile networks. The current emergency in Ukraine has caused businesses to halt. VEON has been severely affected by the Russian invasion like other companies in Ukraine. Its stock was already down due to the hit by the pandemic. The current uncertain situation has escalated the decline in the stock, despite reporting a robust financial statement for the fourth quarter of fiscal 2021.

  • Enveric Biosciences, Inc. (ENVB) stock surged in the current market; here is why?

    Enveric Biosciences, Inc. (ENVB) gained in the current market after announcing its new patent in a press release. EVNB values at $0.33, gaining more than 18.87% compared to yesterday’s closing price. The stock closed at $0.27 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.83 million shares. The current market cap of the Company is about $14.43 million.

    ENVB new patent

    On Tuesday, Enveric Biosciences stated that it had completed its comprehensive series of PCT applications for tryptamine-based derivative molecules with the filing of its 10th PCT patent application. Enveric Biosciences is working on next-generation psychedelic-inspired treatments for mental health issues, an innovative pharmaceutical firm with a neuroscience emphasis.

    DMT, 5-MeO-DMT, psilocybin, and 5-MeO-DMT are some of the naturally occurring psychedelics that the Company’s extensive tryptamine-derivative intellectual property portfolio claims new compounds structurally linked to. Worldwide researchers are looking at naturally occurring compounds as potential remedies for conditions including depression, anxiety, schizophrenia, OCD, PTSD, eating disorders, pain, autism, and Alzheimer’s.

    ENVB CIO Remarks

    Enveric’s Chief Innovation Officer, Dr. Peter Facchini, said that the Company’s primary emphasis is on developing innovative compounds with superior pharmacological features that are covered by the composition of matter, manufacturing, and method-of-use patent claims. Enveric’s vast intellectual property portfolio allows us to invest in and utilize these medicines’ medicinal potential. Psychiatric and neurologic illnesses are among the most common psychiatric and neurologic problems.

    Conclusion

    Enveric’s psychedelic-inspired chemical portfolio provides worldwide patent protection for potentially millions of innovative therapeutic opportunities. The Company is looking forward to strengthening its position in the relevant industry to gain a competitive edge over its rivals. Enveric Biosciences, Inc. (ENVB) is a pre-revenue coma any and has enough patents to roll out into the market. The last reported quarter had zero revenue but $2.7 million net loss.

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

    iQIYI, Inc. (IQ) gained in the current market after announcing its fourth quarter and fiscal 2021 results. IQ values at $5.09, gaining more than 22.90% compared to yesterday’s closing price. The stock closed at $4.14 at the end of the last trading session. The stock volume traded in the previous trading session was around 10.39 million shares. The current market cap of the company is about $3.17 billion.

    IQ: Q4 and Fiscal 2021 Key Financials

    • iQIYI, Inc.’s revenue in Q4 2021 was RMB 7.3 billion. It is a slight decrease compared to the revenue of RMB 7.4 billion in Q4 2020.
    • Fiscal 2021 revenue was RMB 30 billion, slightly more than the revenue of RMB 29.7 billion in fiscal 2020.
    • The company’s net loss in Q4 2021 was around RMB 1.7 billion, more than compared to the net loss of RMB 1.5 billion in Q4 2020.
    • IQ net loss in fiscal 2021 was around RMB 6.1 billion, less than compared to the net loss of RMB 7 billion in fiscal 2020.
    • The Q4 2021 loss per share was RMB 0.32, compared to a net loss of RMB 0.30 of Q4 2020.
    • For fiscal 2021, the loss per share was RMB 1.11, compared to RMB 1.36 in fiscal 2020.

    IQ CEO’s Remarks

    Mr. Yu Gong, Founder, Director, and CEO of iQIYI, said that iQIYI is leading a new chapter in the Chinese long-form video business. We began several cost-cutting and organizational-alignment measures in the fourth quarter of 2021. The findings are favorable. We increased our operations and cost efficiency while keeping our industry-leading user metrics. I am pleased to see we are on the right track.

    IQ 2022 Guidance 

    Mr. Yu Gong further commented that we aim to achieve full-year non-GAAP operating break-even in 2022 and quarterly non-GAAP operational break-even as soon as feasible while preserving our competitive edge.

    Conclusion

    The company is looking forward to strengthening its completive edge and increasing its market share. The revenue of the company slightly increased in fiscal 2021.

  • Farmmi, Inc. (FAMI) stock gained in the current market; here is why?

    Farmmi, Inc. (FAMI) stock gained in the current market after getting new orders this month with a recent one from New York City. FAMI values at $0.17, gaining more than 2.75% compared to yesterday’s closing price. The stock closed at $0.18 at the end of the last trading session. The stock volume traded in the previous trading session was around 28.73 million shares. The current market cap of the company is approximately $104.98 million.

    FAMI: New York City Order

    Farmmi, Inc. (FAMI) announced in a press that its most recent order for dried sliced Shiitake mushrooms is from New York City. The company has received another significant export order.

    The company recently exported its dried sliced Shiitake mushrooms to different countries. On February 22, 16, and 09, 2022, the company received orders for its dried sliced Shiitake mushrooms from Dubai, Jordan, Israel.

    FAMI: Global Mushroom Industry

    Over the next decade, the global mushroom market is expected to grow at an annual rate of 9.5 percent, compared with a value of $46.1 billion in 2020. The increasing number of vegans are looking for protein-rich diets over the next several years, which will fuel the industry. 

    FAMI CEO’s Remarks

    Ms. Yefang Zhang, the company’s CEO, said that this is a great success for our sales team as we utilize our brand and supply chain to expand globally. The United States is a significant market for fungi, with customers eager to include them in their diets. We anticipate additional space to run in the US and other major markets as we deliberately grow order volume and size.

    Conclusion

    However, despite the worldwide tensions, the company’s stock price continues to rise. There is an ongoing crisis between Russia and Ukraine that has lately impacted the company’s shares. However, fresh orders are coming in, which is helping the firm stay up with its operational costs despite the current scenario, which can potentially disrupt the supply chain.

  • Sea Limited (SE) declined in the current market; here is why?

    Sea Limited (SE) declined in the current market after announcing its fourth quarter and fiscal 2021 results. SE values at $134.33, losing more than 7.73% compared to yesterday’s closing price. The stock closed at $145.60 at the end of the last trading session. The stock volume traded in the previous trading session was around 11.03 million shares. The current market cap of the company is about $81.21 billion.

    SE: Q4 and Fiscal 2021 Key Financials

    • Sea Limited’s revenue in Q4 2021 was $3.2 billion. It is an increase of more than 105% compared to the revenue of $1.5 billion in Q4 2020.
    • Fiscal 2021 revenue was $9.9 billion, 1275 more than the revenue of $4.3 billion in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $616 million, 17.5% more than compared to the net loss of $524 million in Q4 2020.
    • SE net loss in fiscal 2021 was around $1.5 billion, 25.8% more than compared to the net loss of $1.3 billion in fiscal 2020.
    • The Q4 2021 loss per share was $0.88, compared to a net loss of $0.87 of Q4 2020.
    • For fiscal 2021, the loss per share was $2.96, compared to $2.78 in fiscal 2020.

    SE 2022 Guidance

    We now project digital entertainment bookings to reach between US$2.9 billion and US$3.1 billion in 2022. Following the fourth quarter and into this year, we have seen a slowdown in online activity and swings in user engagement.

    Also, owing to unexpected government measures, Free Fire is presently inaccessible in India on Google Play and iOS. The advice considers these headwinds. While we estimate reservations for 2022 to be comparable to those for 2020, we have factored in the uncertainty in India.

    The company expects e-commerce revenue to be between $8.9 and $9.1 billion. The midpoint is a 75.7% increase from 2021. SE expects digital financial services revenue to be between US$1.1 and US$1.3 billion. The midpoint indicates a 155.4 percent increase from 2021.

    Conclusion

    The company is expecting to resolve the issue of Free Fire in India as they have a significant chunk of market share there. The uncertain situation of the current ban on Free Fire in India will affect the upcoming quarters.

  • Asensus Surgical, Inc. (ASXC) stock declined in the after-hours; here is why?

    Asensus Surgical, Inc. (ASXC) declined in the after-hours market after announcing its fourth quarter and fiscal 2021 results. ASXC values at $0.72, losing more than 7% compared to yesterday’s closing price. The stock closed at $0.77 at the end of the last trading session. The stock volume traded in the last trading session was around 2.68 million shares. The current market cap of the company is around $180.46 million.

    ASXC: Q4 and Fiscal 2021 Key Financials

    • Asensus Surgical, Inc.’s revenue in Q4 2021 was $2.4 million. It is an increase of more than twice compared to the revenue of $1.1 million in Q4 2020.
    • Fiscal 2021 revenue was $8.2 million, which is greater than the revenue of $3.1 million in fiscal 2020.
    • The company’s net loss in the fourth quarter of 2021 was around $15.9 million, compared to the net loss of $13.7 million in Q4 2020.
    • ASXC net loss in fiscal 2021 was around $62.4 million, compared to the net loss of $59.3 million in fiscal 2020.
    • The fourth quarter 2021 loss per share was $0.07, compared to a net loss of $0.13 in the fourth quarter of 2020.
    • For fiscal 2021, the loss per share was $0.28, compared to $0.85 in fiscal 2020.

    ASXC President and CEO’s Remarks

    President and CEO Anthony Fernando said that we were able to increase our active installed base by more than 50%, produce the enormous procedure volumes in Senhance’s commercial history, and considerably expand our offering despite the economic challenges. To deliver on the promise of Performance-Guided Surgery, we aim to continue to increase worldwide acceptance of Senhance via market growth and portfolio extension activities.

    Conclusion

    Asensus Surgical, Inc. (ASXC) declined after increasing its loss. The company has increased its revenue and is focused on increasing its revenue. Afterhours is a volatile trading session as many traders prefer to trade in the regular trading session. However, the increase in its loss has raised concerns for the investors, which is why the stock is declining.

  • EPAM Systems, Inc. (EPAM) Stock Plunged in the Current Market, here is why?

    EPAM Systems, Inc. (EPAM) plunged in the current market after announcing its withdrawal from the earlier announced guidelines for fiscal 2022. The stock values are at $24o.50, losing more than 37.06% compared to Friday’s closing price. EPAM closed at $382.12 at the end of the last trading session. The stock volume traded in the last trading session was around 729.89K shares. The current market cap of the company is around $13.62 billion.

    EPAM’s New Statement

    EPAM Systems announced in a press release that they are withdrawing their Q1 2022 expectations. The decision has been made due to the ongoing situation in Ukraine after the Russian Invasion. The uncertainty due to the geopolitical situation and its impact on the inflation and supply chain has made the company withdraw from its 2022 guidelines.

    The rising tension between the two countries has caused the fear of supply chain disruption. Due to this, the company has decided to step back from its earlier announced guidelines. They will provide new guidelines when the situation settles between the two nations.

    EPAM Previously announced Q1 and Fiscal 2022 guidelines

    The Company estimates revenues of at least $5.150 billion in 2022, representing a 37% year-over-year increase, excluding a 1% adverse foreign currency translation effect. Constant currency revenue increase will be at least 38%. The company anticipates acquisitions to add 6% to sales. EPAM estimates GAAP diluted EPS of $10.43 to $10.76 and non-GAAP diluted EPS of $11.36 to $11.69 for the year 2022.

    The Company estimates first-quarter 2022 revenues in the range of $1.170 billion to $1.180 billion, representing a year-over-year growth rate of roughly 50%. EPAM forecasts GAAP diluted EPS of $2.65 to $2.73 and non-GAAP diluted EPS of $2.58 to $2.66 for Q1 2022.

    Conclusion

    Previously, the company had targeted a significant number of 37% for 2022 in the financial abetment of fiscal 2021. However, seeing the current situation, the company has decided to hold on for the time being and revise its strategy when the situation cools down.

  • Teladoc Health, Inc. (TDOC) stock surged in the Current Market; here is why?

    Teladoc Health, Inc. (TDOC) gained in the current market after announcing its partnership with Amazon Alexa. TDOC values at $77.05, gaining more than 9% compared to Friday’s closing price. The stock closed at $70.73 at the end of the last trading session. The stock volume traded in the last trading session was around 4.71 million shares. The current market cap of the company is around $12.17 billion.

    TDOC partners with Amazon Alexa

    Teladoc Health, Inc. (TDOC) announced in a press release today that they have entered into a joint venture with Amazon to launch Teladoc Health on Alexa. With this deal, Alexa users in the US will be able to connect with Teledoc care providers. The service will provide 24/7. This is a very new experience of the company with Amazon Alexa, due to which users will be able to reach virtual health care support via Teledoc on the supported Echo devices. These devices include Echo, Echo Dot, and Echo Show. In the first phase of the launch, they will provide audio support, and soon video support will also be launched.

    TDOC CPO Remarks

    Teladoc Health’s chief product officer Donna Boyer said the partnership with Amazon is another step toward lowering healthcare costs. We are giving a new and easy option for people to interact with a doctor by combining our virtual first care experience with Echo devices. We are reaching customers where they are to keep members happy.

    TDOC Recently Announced Fiscal 2021 Results

    Its revenue was around $2.3 billion in fiscal 2021, increasing more than 86%. The company is expanding its operation, which is why its profitability was negative. That is why the company reported a net loss of $428.8 million.

    For this reason, the corporation has published its financial projections in light of the pandemic uncertainty. Revenues of $565 million to $571 million are expected in the first quarter of 2022, according to TDOC. According to the company’s estimates, it will earn between $2.55 million and $2.65 billion in the next fiscal year. With a loss per share expected to range from $$0.60-$0.50 in Q1, they foresee a $$1.60-$1.40 loss per share for the whole fiscal year of 2022.

    Conclusion

    The current deal with Amazon Alexa will bring more customers to the company. It will also increase its brand positioning and get closer to its target audience.

  • First Horizon Corporation (FHN) stock gained in the current market; here is why?

    First Horizon Corporation (FHN) gained in the current market after announcing that TD Bank has acquired First Horizon. FHN values at $23.74, losing more than 30.08% compared to yesterday’s closing price. The stock closed at $18.25 at the end of the last trading session. The stock volume traded in the last trading session was around 5.82 million shares. The current market cap of the company is around $9.87 billion.

    FHN acquired by TD

    First Horizon (FHN) and TD Bank (TD) announced that they both have come to an agreement that TD will acquire First Horizon. The transaction value is $13.4 billion or $25 per common stock paid all in cash to First Horizon. TD Bank acquiring First Horizon was the similarity among its culture and risk-management framework, but the deal complements the TD Banks’ long-term goal of expansion.

    After the deal TD’s US franchise has over $614 billion in assets and a network of 1,560 outlets servicing over 10.7 million US consumers across 22 states; globally, TD Bank Group has roughly C$1,841 billion in assets and over 27.5 million clients served by over 2,600 locations.

    FHN Transaction Details

    The company expects an unadjusted synergy gain of over 10% upon closure when the deal is penned. TD Banks expects that, on average, the deal should provide a 10% return on capital in 2023. First Horizon’s fully-synergized profits for 2023 are 9.8 times the acquisition price, and its anticipated tangible book value at closing is 2.1 times the purchase price.

    TD Bank expects to close the deal in the first half of fiscal 2023, but that is subject to market conditions. The factors affecting the deal could be shareholders of First Horizon, Canadian or US regulatory authorities.

    FHN CEO’s remarks

    First Horizon is a solid bank, according to TD President and CEO Bharat Masrani. As a consequence, TD will have direct access to the attractive US bordering markets and significant future growth prospects across the Southeast. They aspire to build on their success and create outstanding client experiences in every area they serve.

    Conclusion

    TD Bank acquires First Horizon in the hope of creating a customer-centric business model in order to gain future expansion. First Horizon’s investments in local communities will be further developed by TD.