STOCKS TELEGRAPH

Category: Mid Day Movers

  • TurkcellIletisimHizmetleri A.S. (TKC) stock is worth a buy or not? Here is the reason

    TurkcellIletisimHizmetleri A.S. (TKC) stock is worth a buy or not? Here is the reason

    TurkcellIletisimHizmetleri A.S. (TKC) stock slightly declined today. The stock was traded in the current market at $3.67; this is an 8.70% decrease from the previously closed value of the last trading session. The stock closed in the last trading session at $4.07.

    Financial Highlights of TRC’ 3rd quarter:

    • The revenue of the company was reported to be TRY 9,354.2 Million. This is a 22.3% increase from the 3rd quarter of 2020. Last year it was TRY 7,649.5.
    • The gross margin of the company is 50.7%. In the same quarter of 2020, it was 51.3%.
    • The EBITDA is TRY 4,029.8 million for the 3rd quarter of 2021. In the previous year’s same quarter, the EBITDA was TRY 3,394 million.
    • The net income company reported in the third quarter of 2021 is TRY 1,429 million. It is an increase of 18% as compared to the 3rd quarter of 2020 net income of TRY 1,211 million.

    TRC Operational highlights:

    • The subscriber base increased by 1.2 million.
    • The postpaid subscribers increased by 464K.
    • 4G data users increased to 84%.
    • The sales brought by the Digital channels were 16.5% of the total revenue.

    What next?

    The above numbers seem good for any telecom company, but there is one thing where the company lacks behind. This is its debt leverage, which is only 0.9x. The average industry number of debt leverage is around 2.5x. This makes it very weird for a telco operator to have such low debt leverage. The reason could be linked to the comparison between its prices in Turkish Lira and USD. The depreciation of the Turkish Lira against the dollar is has increased consistently. The company has kept the prices of subscription services in accordance with the inflation rate.

    Conclusion

    The TurkcellIletisimHizmetleri A.S. (TKC) stock seems to be a good stock for investors in the long run. The company has although proven itself to be consistent in paying dividends over the last decade. The decline in the shares of the company could not be linked to its performance its numbers look good for telco operators. The general reason could be the dislike of Turkish stocks by the investors as of now. The GDP of Turkey is expected to grow which will definitely have a positive effect on its stock.

  • Why is Aptevo Therapeutics Inc. (APVO) stock soaring today?

    Aptevo Therapeutics Inc. (APVO) stock reported first complete remission after which it became bullish in the intraday session today. APVO stock price saw an uptrend of 50.15% to reach $9.73 a share at the time of this writing. The trading volume was 32,428,886 on the last check, far higher than the average trading volume. Let’s deep dive to explore more of it.

    What’s Happening?

    Aptevo stock today announced the clinical update of its Phase 1b Expansion trial. In this trial, APVO stock is evaluating APVO436 against acute myeloid leukemia. In cohort 1, a high-risk AML patient got treatment with a combination of chemotherapy plus APVO436. After one cycle of therapy, the patient achieved complete remission. The chemotherapy regimen includes leukemia drugs Etoposide, Mitoxantrone, and Cytarabine. The treatment was well tolerated as no adverse event or toxicity is observed.

    The main objective of the Phase 1b expansion phase study is to evaluate APVO436 for improving the quality of emission in high-risk AML patients. This can be only achieved if APVO436 reduces the residual chemotherapy-resistant measurable residual disease (MRD) burden. APVO stock firmly believes that APVO436 is the potential drug to reduce the risk of leukemic relapses in patients.

    Financial View of APVO stock:

    In the third quarter of 2021, APVO stock reported $3.1 million in royalty revenue. The net loss of the APVO stock in the recently reported quarter was $7.0 million or $1.43 per share. This compares to a net loss of $6.8 million or $2.10 per share in the same period of the previous year. APVO stock spent $4.4 million in research and development expenses in the third quarter of 2021. This represents a decline of $0.1 million from the same period of the previous year. General and administrative expenses jumped from $3.2 million in Q3,2020 to $3.5 million in Q3,2021. Income from discontinued operations of the APVO stock was nearly $0.1 million in the reported quarter. By the end of the third quarter, Aptevo stock had $53.4 million in cash and cash equivalents.

    Conclusion:

    Investors are responding positively to the recent announcement by the Aptevo stock in the stock market. The investors are happy to see Phase 1b Expansion trial results and optimistic that this stock will perform well in the future.

  • XL Fleet Corp. (XL) Stock Surged 15.52% Today, Here’s Why        

    XL Fleet Corp. (XL) stock surged 15.52% in the current-market trading session at the price of $5.25 after it was awarded a contract by the defense department to prototype fuel-saving technology. XL Fleet provides transport electrification solutions for municipal and commercial fleets in North America.  

    XL Awarded Pilot Project by Department of Defense 

    On 23rd November 2021, XL published that it had awarded a contract by U.S. Army’s Project Manager Transportation Systems and the Defense Innovation Unit to prototype a fuel-saving technology for tactical vehicles. XL Fleet is one of two firms granted a contract to develop a pilot project by next year. This technology is equally applicable to tens of thousands of vehicles across a broad range of military purposes. The pilot program had started on 1st October 2021 and will operate for 13 months. 

    Management Comments  

    Founder and President of XL, Tod Hynes, remarked that they are honored to receive this highly selective U.S. Government contract to provide fuel-saving solutions for military vehicles. The company’s proven technology, flexible policies, and deep expertise in producing sustainable technologies make it a perfect fit for this project. The company will elongate the operational range of its tactical vehicles while maintaining safety, lessening greenhouse gas emissions, and providing significant fuel savings.  

    XL Third Quarter 2021 Financial Results 

    On 15th November 2021, XL reported its financial results for the third quarter ended 30th September 2021 and provided corporate updates.  

    Financial Highlights  

    XL reported revenue of $3.2 million for the third quarter of 2021. Total revenue was $6.3 million for the same quarter of 2020. For the third quarter of 2021, gross profit totaled $0.7 million. The company reported a gross profit of $0.8 million for the same quarter of 2020. Cash and cash equivalents totaled $366.7 million as of 30th September 2021.   

    XL reported a net loss of ($7.5) million for the third quarter of 2021. Net loss totaled ($2.3) million for the third quarter of the previous year. For the third quarter of 2021, the adjusted net loss was ($14.7) million. The company reported an adjusted net loss of ($7.5) million for the same quarter of 2020.

  • Best Buy Co., Inc. (BBY) stock is dropping today: Here’s Why

    Best Buy Co., Inc. (BBY) stock announced Q3 FY22 financial results today on November 23, 2021. The stock in response to financial results saw a downtrend of 15.84% to drop at $115.96 a share at the time of this writing. In the previous trade, the stock was green and went high by 1.37% at closing. Let’s dig in to understand more of it.

    Domestic Financial Results of BBY stock:

    • The domestic revenue of the BBY stock reached $10.99 billion in the reported quarter. This represents an increase of 1.2% over the year. This increase is mainly due to 2.0% sales growth. The permanent store closure in the previous year however partially contributed to the loss of revenue.
    • Domestic online revenue of the BBY stock declined by 10.1% on a comparable basis to drop at $3.44 billion. Online revenue declined by 31.3% as compared to 35.2% last year.
    • The domestic gross profit rate of the BBY stock was 23.4%, 0.6% lower than last year. Lower product margin, increased inventory shrink, and high product damages, as well as returns last year, contributed to this fall.
    • BBY stock spent $1.96 billion in GAAP selling, general and administrative expenses in the reported quarter. This represents 17.9% of the revenue.

    International Financial results of BBY stock:

    • The company reported $925 million in international revenue, 7.8% lower than the last year. The 3.0% sales decline in Canada and loss of revenue from exciting Mexico resulted in a decrease in the international revenue.
    • The International GAAP gross profit rate increased from 19.0% last year to 25.0% in the reported quarter. The gross profit on a non-GAAP basis was 25.0% versus 22.6% last year. Improved product margins in Canada and sales mixing out of Mexico resulted in this rise.
    • BBY stock spent $171 million in selling, general and administrative expenses in the reported quarter. These expenses were $175 million in the same period as the previous year.

    Dividend and Share Repurchase Program:

    In the reported quarter, BBY stock paid $405 million in share repurchase programs and $172 million in dividends to the shareholders. The company paid $2.25 billion to shareholders via share repurchases as well as dividends on a year-to-date basis.

    BBY stock today also announced the payment approval of a quarterly cash dividend of $0.70 per common share. The stock will pay dividends on January 4, 2022, to the shareholders and the record date is December 14, 2021.

    Wrap Up:

    Investors responded negatively to the release of third-quarter financial results by the Best Buy stock due to a decline in the gross margin.

  • Why is Avaya Holdings Corp. (AVYA) stock rallied today?

    Why is Avaya Holdings Corp. (AVYA) stock rallied today?

    Avaya Holdings Corp. (AVYA) stock announced fourth quarter and fiscal 2021 financial results after which the stock became bullish today. AVYA stock price saw a push of 23.88% to reach $22.20 a share at the time of this writing. The trading volume was 1,131,555, significantly higher than the average trading volume.

    Fourth Quarter and Fiscal Year 2021 Financial Results:

    • AVYA stock generated $760 million in revenue in the fourth quarter of 2021. The fiscal year 2021 revenue totaled $2.973 billion.
    • The annualized recurring revenue for OneCloud reached $530 million, 25% high sequentially and 177% over the year.
    • CAPS (Cloud, Alliance Partner, and Subscription) represented a 33% increase from a year ago to reach 44% of revenue.
    • Software and services remained flat year over year to 88% of the revenue.
    • For the fiscal year 2021, AVYA stock recurring revenue was 66%. This represents an increase of 63% over the year.
    • AVYA stock reported $33 million in GAAP operating income and $145 million in non-GAAP operating income. For the fiscal year 2021, GAAP Operating income and non-GAAP operating income were $180 million and $602 million
    • The stock reported $6 million GAAP net income and $74 million in non-GAAP net income. The GAAP net loss was $13 million for the fiscal year 2021 and non-GAAP net income was $304 million.
    • The Adjusted EBITDA declined by 290 basis points year over year to drop at $179 million. For fiscal 2021, adjusted EBITDA was 24.2% of revenue.
    • AVYA stock reported $0.06 GAAP earnings per share and $0.77 in non-GAAP earnings per share in the reported quarter. The stock reported $0.20 and $3.16 GAAP loss per share and non-GAAP earnings per share in fiscal 2021.
    • By the end of fourth-quarter 2021, AVYA stock had $498 million in cash and cash equivalents.

    Outlook of AVYA stock:

    For the first quarter of fiscal 2022, the Avaya stock has projected its revenue between $725 million to $745 million. The company anticipates $33 million to $48 million GAAP operating income and 5% to 6% GAAP operating margin. AVYA stock estimates non-GAAP operating income of $131 million to $146 million in the first quarter of fiscal 2022. The company projected $160 million to $175 million adjusted EBITDA for the first quarter of fiscal 2022. For the full fiscal year 2022, the company has estimated revenue between $2.975 billion to $3.025 billion.

  • Affimed N.V. (AFMD) stock is declining today: Why is it so?

    Affimed N.V. (AFMD) stock is declining today: Why is it so?

    Affimed N.V. (AFMD) stock declined in the intraday trading session today on November 22, 2021. AFMD stock price saw a downtrend of 2.38% to reach $6.54 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 1.17% at closing. Let’s discuss more this stock and understand the reason behind this bull.

    Affimed N.V is the clinical-stage biopharmaceutical stock that is engaged in the development and discovery of cancer immunotherapies in the U.S. The stock has a market value of $806.234 million and a 1,362,684 average trading volume.

    What’s Happening?

    AFMD stock today released the interim clinical results from the investigator-initiated phase 1-2 study. The stock conducted the study at The University of Texas MD Anderson Cancer Center. The study team evaluated cbNK cells pre-complexed with Affimed’s innate cell engager (ICE®) AFM13.

    A total of 18 subjects with CD30-positive relapsed or refractory Hodgkin and non-Hodgkin lymphomas enrolled in the study as of October 31, 2021. 16 out of 18 patients showed the desired response. The investigators observed seven complete responses and nine partial responses. The treatment showed well tolerance and no serious adverse event occurred during the treatment.

    The data released recently aligns with the data which AFMD stock presented at AACR earlier in this year. The response rate was encouraging, and the combination represents a good safety profile. This is a good sign for those patients who are sensitive to aggressive therapies.

    Financial View of AFMD stock:

    Recently on November 10, 2021, AFMD stock did announce third-quarter 2021 financial results according to which

    • Revenue declined from €10.5 million in Q3,2020 to €8.7 million in Q3,2021.
    • AFMD stock spent €20.6 million in research and development expenses in the third quarter of 2021. These expenses were €10.1 million in the same period of the previous year.
    • General and administrative expenses jumped from €3.5 million in Q3,2020 to €6.8 million in the third quarter of 2021. The high personnel expenses resulted in this increase.
    • AFMD stock recorded a net finance income of €1.5 million for the recently reported quarter. In the same period of the previous year, the company reported €3.1 million net finance loss.
    • AFMD stock suffered a net loss of €17.1 million in the third quarter of 2021. This compares to €6.0 million net loss in the same period of the previous year.
    • By the end of the third quarter of 2021, AFMD stock had €198.7 million in cash and cash equivalents.

    Wrap Up:

    Affimed stock declined despite the announcement of positive interim clinical results of phase 1-2 study. The stock has gained 12.35% in the last thirty days however, it lost 25.55% in the last six months.

  • Astra Space, Inc. (ASTR) gained in the current market, Here is why?

    Astra Space, Inc. (ASTR) gained in the current market, Here is why?

    The stock of Astra Space, Inc. (ASTR) gained in the current market as soon as the news hit the market that their rocket reached for the very first time in orbit. The stock price in the current market reached $13.18, gains 38.27% from the previously closed value. In the last trading session, the stock closed at $9.53. The average volume of stock traded in the trading session was around 3.08 Million.

    ASTR rocket reaches orbit for the first time and its effect on their company’s stock

    Astra space, a rocket manufacturing company announced on 20 November 2021 that Astra reached orbit. The company’s rocket reached the target orbit in 9 minutes after liftoff. After the news hit the market, the stock gained a value of almost 37% in the premarket today. Elon Musk, the SpaceX founder and CEO also congratulated AstraSpacefor achieving an important milestone. He wrote in a tweet to Astra that “Congrats! Orbit is not easy”. With this Astra Space enter the club of companies that achieved to reach orbit with a privately funded rocket. Before Astra Space, Virgin Orbit and Rocket Lab were the only ones to reach orbit with privately funded rockets.

    Astra Space, Inc. (ASTR) Financial Highlights of 3rd quarter

    • The company announced a GAAP Net loss was $16.2 million for the 3rd quarter that ended on 30th September 2021.
    • Their adjusted Net loss was $34.5 million.
    • The company announced its EBITDA loss to be #32.9 million.
    • The company reported a capital expenditure of $9.9 million.
    • The company’s cash and cash equivalents were reported to be $378.7 million.

    Major Business achievements in the 3rd quarter:

    • Astra Space conducted their commercial test launch of LV0006 for SpaceForce on 28 August 2021.
    • The company started to expand the Alameda production facility and the company expects that the first phase of the expansion project will finish by the end of the 4rth quarter.
    • Astra Space achieved orbital ignition of the first-in-space electric propulsion system, acquired from Apollo Fusion.
    • The company announced that they expanded their talented team, the added team members are the former employees from Apple, Google, Maxar, and Blue Origin.

    Conclusion:

    Astra Space, Inc. (ASTR) achieved an important milestone to reach orbit after many failed attempts. After this success, the investors took a high interest in their stock, which resulted a significant gain in their stock. With such massive successes, Astra Space, Inc. (ASTR) could be another favorite tech company for investors to invest.

  • BIMI International Medical Inc. (BIMI) stock falling today, Here is why?

    The BIMI International Medical Inc. (BIMI) stock value was $0.88 at the last check today, which is an 8.99% loss from the last closed value. When the last trading session ended the stock closed at $0.97. The average volume of stock traded in the trading session was around 16.13M.

    Reason for the stock gaining value

    BIMI International Medical Inc. (BIMI) recently announced its unaudited financial statements for the 3rd quarter of 2021. This could be linked to the stock catching the interest of the investors which ultimately resulted in a slight increase in their stock value.

    BIMI Stock: The Unaudited Financial Highlights of 3rd Quarter

    • The revenues of the company increased by 345% in this quarter as compared to the same quarter of last year. This year’s quarterly revenue was reported to be $13.78 million, while the revenue in the same quarter of the last year was approx.$3.09 million.
    • The gross profit was also increased by a significant number. It was reported by an increase of 688.7%. This year’s 3rd quarter gross profit was $2.02 million while the gross profit in the 3rd quarter of last year was $257,278.
    • The net loss of the company was $1.70 million in the 3rd quarter of 2021.
    • The company had cash and working capital of $209,803 and $2.12 million respectively.

    Effect of the income statement on BIMI Stock

    Although, No major plans or developments have been announced by the company for its recent future. But its 3rd quarter report positively affected the stock of BIMI. The investors were seen to take interest in its stock after the positive trend of BIMI International Medical Inc. (BIMI) stock after the company announced their unaudited financial statement for the 3rd quarter of 2021. The main reason could be taken as its massive increase in the revenue and gross profit which reported to increase of 345% and 688.7%, respectively.

    Conclusion

    The company expects that its revenues would increase in the 4th quarter of this year. Investors should really keep in mind the growth rate of the company which is a massive number. This could benefit investors who looking for a gain in the long run.

  • Corbus Pharmaceuticals Holdings, Inc. (CRBP) Stock Surged 2.91% Today, Here’s Why           

    Corbus Pharmaceuticals Holdings, Inc. (CRBP) stock soared 2.91% in the current-market trading session at the price of $1.06 despite no fundamental reason. The last published news was its financial results for the second quarter ended 30th June 2021. CRBP improves the lives of people by producing drugs that target metabolism, fibrosis, inflammation, and immuno-oncology. 

    CRBP Second Quarter 2021 Financial Results 

    On 12th August 2021, CRBP published financial results for the second quarter ended 30th June 2021, and provided corporate updates.  

    Management Comments  

    Chief Executive Officer of CRBP, Yuval Cohen, remarked that they had made significant progress in their pipeline by licensing two integrin-targeting mAbs. They are on track to advance these assets with their tiny molecules that stimulate and check the endocannabinoid system. The company has cash and investments of approximately $114M. It has a better financial position and resources to advance and develop its diversified pipeline, he added.  

    CRBP Financial Highlights 

    CRBP reported $137,000 in revenue from awards and licenses for the three months ended 30th June 2021. Revenue from awards and licenses was $286,000 for the same quarter ended 30th June 2020. Operating expenses were $16.8 million for the three months ended on 30th June 2021. It represents a drop of $21.6 million from $38.4 million for the same quarter of 2020. The decrease resulted from lower clinical trial and drug manufacturing expenses and an overall decline in compensation cost. 

    For the three months ended 30th June 2021, CRBP reported a net loss o $17.1 million or $0.15 per diluted share. Net loss was $38.1 million, or $0.52 per diluted share, for the same quarter of the previous year. By 30th June 2021, the company acquired a refundable foreign tax credit of $12.2 million. As of 10th August 2021, it has $114.3 million in cash on hand.  

    Topline Results of DETERMINE Study of Lenabasum 

    On 24th June 2021, CRBP published topline results from the DETERMINE study of lenabasum to treat rare autoimmune disease dermatomyositis. Chief Executive Officer of CRBP, Yuval Cohen, noted that they look onward to presenting data from Phase II and Phase III studies with regulative authorities. They have a strong cash position and resources to progress their diversified pipeline while also preparing the next steps for lenabasum, he added. 

  • Under Armour, Inc. (UAA) stock is soaring today: What’s Going on?

    Under Armour, Inc. (UAA) stock soared today following the announcement of third-quarter 2021 financial results. UAA stock price saw a push of 17.20% to reach $25.76 a share at the time of this writing. The stock was also performing well in the previous trade and went up by 0.09% at closing. Let’s deep dive to understand more of it.

    Under Armour, Inc operates via developing, marketing, and distribution of apparel, and men and women accessories across the globe. The stock has a current market value of $9.56 billion and a 2,814,606 average trading volume. It was founded in 1996 and is based in Baltimore, Maryland.

    Third Quarter 2021 Financial Results:

    • UAA stock generated $1.5 billion in revenue in the third quarter of 2021, representing an increase of 8% compared to the previous year.
    • The gross margin for the reported quarter was 51.0%, representing an increase of 310 basis points.
    • The company spent $599 million in sales, general and administrative expenses in the third quarter of 2021. Restructuring charges for the reported quarter were $17 million.
    • Under Armour recorded $172 million and $189 million operating income and adjusted operating income respectively.
    • Net income and adjusted net income were $113 million and $145 million respectively in the third quarter of 2021.
    • UAA stock recorded $0.24 diluted earnings per share and $0.31 adjusted diluted earnings per share in the reported quarter.
    • By the end of the third quarter, UAA stock had $1.3 billion in cash and cash equivalents.

    The full Year 2021 Outlook by UAA stock:

    • Under Armour has projected a 25% increase in revenue as compared to the prior expectation of a low-twenties percentage increase for the full year 2021.
    • UAA stock expects that its gross margin will increase 130 basis points approximately as compared to the last expectation of 50 to 70 basis point
    • UAA stock is anticipating approximately $425 million operating income for the full year 2021. This compares to the previous range of $215 million to $225 million.
    • The stock has projected $0.55 compared diluted earnings per share as compared to the previous $0.14 to $0.16 diluted earnings per share expected previously.
    • Adjusted diluted earnings per share for the full year of UAA stock is expected to reach approximately $0.74.

    Conclusion:

    Investors are responding positively to the release of third-quarter 2021 financial results by the UAA stock. The strong outlook for the full year 2021 reflects that this stock is progressing and can be a good bet for long term investors.