STOCKS TELEGRAPH

Tag: Q3 Results

  • Rocket Pharmaceuticals (RCKT) Announces Third Quarter Financial Results

    Shares of Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) soared 10.93% after the company announced today the 2020 financial results of the Third quarter ended September 30, 2020. The company has also disclosed the update of its business operations, upcoming milestones, and key developments.

    It has reported the Cash, cash equivalents, and investments as of September 30, 2020, of $228.7 million. Its balance sheet includes $52.0 million of fully convertible notes. Rocket Pharmaceuticals has reported that its Research & Development expenses for the three months ended September 30, 2020, were $21.7 million.

    The biotechnology company has revealed that it has recorded the General and administrative expenses of $5.7 million for the three months ended September 30, 2020.  Its Net loss was $29.0 million or $0.53 per share for the three months ended September 30, 2020. Furthermore, it has reported the 55,204,127 shares of common stock were outstanding as of September 30, 2020.

    Rocket Pharmaceuticals revealed that the Phase 1/2 clinical trial of RP-L201 for LAD-I has shown positive results.  It has announced that the first patient has received a higher dose level of 1.1×1014 genome copies/kilograms after clearance from the U.S.

    Furthermore, it has announced the establishment of the Research & Development (R&D) and Chemistry, Manufacturing, and Controls (CMC) facility in Cranbury, New Jersey. The new facility is 103,720 square feet. It has dislcosed that the Fast Track Designation has been granted to RP-L401 gene therapy for IMO and RP-A501 for Danon Disease got Rare Pediatric Disease Designation.

    Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT) shares were trading up 9.39% at $32.14 at the time of writing on Wednesday. It has a trading volume of 201.27K as compared to the average volume of 273.50K. Rocket Pharmaceuticals, Inc. (RCKT) share price went from a low point around $9.01 to briefly over $30.43 in the past 52 weeks. RCKT market cap has remained high, hitting $1.67 Billion at the time of writing.

  • Why Inphi Corporation (NASDAQ: IPHI) Stock Soaring Today?

    Why Inphi Corporation (NASDAQ: IPHI) Stock Soaring Today?

    Inphi Corporation (NASDAQ: IPHI) shares traded up 18.78% during the trading session of Thursday after the company shared its financial results for the third quarter ended September 30, 2020. Its third-quarter revenue jumped $180.7 million as compared to the $94.2 million revenue in the third quarter of 2019. Inphi has recorded an increase of 91.8% year-over-year.

    The record jump in revenue was because of the increasing demands for Cloud and Telecommunication Products and the addition of eSilicon revenues. Semiconductors company has reported the Gross Margin under GAAP of 56.2% as compared to the 57.8% in the 2019 Q3. This decrease is because of the amortization of intangibles related to the eSilicon acquisition and product and revenue mix.

    Furthermore, its GAAP operating income in the third quarter was $6.2 million as compared to the $10.9 million of revenue in 2019. Its GAAP net loss was $3.4 million per diluted common share as compared to the $16.2 million per diluted common share in the third quarter of 2019.

    Inphi Corporation (NASDAQ: IPHI) shares were trading up 18.78% at $131.81 at the time of writing on Thursday. Inphi Corporation (IPHI) share price went from a low point around $55.72 to briefly over $142.00 in the past 52 weeks. It has a trading volume of 2.34 million as compared to the average volume of 939.90K. IPHI market cap has remained high, hitting $5.72 billion at the time of writing.

    Furthermore, Marvell Technology has announced on Thursday that it has decided to buy a rival semiconductor company Inphi for $10 billion in all stock-and-cash deal. This is the second-largest deal of this week between Marvell and Inphi. Earlier this week, Advanced Micro Devices has acquired Xilinx for $35 billion.  Marvell has decided to pay $66 a share in cash and 2.323 shares of stock for each share of Inphi. The deal values Inphi at roughly $157.83 a share.

     

  • Socket Mobile (NASDAQ: SCKT) Stock Up 158% In Pre-Market. Here’s Why

    Socket Mobile (NASDAQ: SCKT) Stock Up 158% In Pre-Market. Here’s Why

    Shares of Socket Mobile, Inc. (NASDAQ: SCKT) went up 158.90% during the pre-market trading session of Friday. Its trading volume boomed to 16.23 million shares, which is enough to excite its stock ahead of the open. The computer Hardware company has reported that its third-quarter profit more than quadrupled, although the company revealed that the results weren’t complete and dependant on goodwill impairment.

    Socket Mobile has reported a revenue of $4.1 million in the third quarter of 2020, recording a 17% decline in the revenue as compared to the revenue of $5.0 million for the same quarter a year ago. It has shared a Net income* of $424,000*, or $0.07* per share in the third quarter of 2020 as compared to the net income of $94,000 in the third quarter of 2019.

    The company has disclosed that its revenue for the nine months ended September 30, 2020, was $11 million. It has recorded a decline of 24.7 percent in revenue for the third quarter of 2020 as compared to the $14.7 million in the same period a year earlier. SCKT has recorded the net loss for the nine months ended September 3, 2020, was $434,000*.

    Socket Mobile has announced that its auditor did not complete the annual review process related to the goodwill impairment. It has revealed that all the numbers that would be negatively affected by adjustment goodwill are asterisked. The review of goodwill impairment got delay because of uncertainties prevailing due to the ongoing pandemic.  It will soon release the complete results in Form 10-Q for Q3 after completing the review of goodwill.

    Socket Mobile, Inc. (NASDAQ: SCKT) shares were trading up 1332.88% at $3.360 during the pre-market trading session of Friday. Socket Mobile, Inc. (SCKT) share price went from a low point around $0.76 to briefly over $4.15 in the past 52 weeks. It has moved up 92.11% from its 52-weeks low and moved down -64.82% from its 52-weeks low. SCKT market cap has remained high, hitting $8.86 million at the time of writing.

    Socket Mobile revealed that it has recorded the Gross margin on revenue for the three-month of 55.3% and the Gross margin on revenue for the nine-month period completed on September 30, 2020, was 53%.  It has revealed that the future will remain uncertain due to the coronavirus pandemic.

    But its Q3 results and strong balance sheet will help the company to remain in a good position even in this pandemic.  President and CEO Kevin Mills announced that the company will release the complete results in the Form 10-Q that will be filed on or around November 13, 2020.

  • ASML Holding (NASDAQ: ASML) Announces 2020 Q3 Results

    ASML Holding (NASDAQ: ASML) Announces 2020 Q3 Results

    ASML Holding N.V. (NASDAQ: ASML) has revealed today the financial results of 2020 Q3. The semiconductor company has reported the net sales of €4.0 billion, a net income of €1.1 billion, and a Gross Margin of 46.5%. ASML Holding has disclosed that its net booking for the third quarter of 2020 was €2.9 billion. The company reported that it has experienced positive growth in the third quarter of 2020.

    The semiconductor company has projected the double-digit growth for next year on strong end-demand for electronic devices.  In the third quarter of 2019, ASML posted a net profit of 627 million euros and sales of 3 billion euros. If we look at its main customers we see big names including Samsung Electronics Co Ltd., Intel Corporation, and Taiwan Semiconductor Manufacturing Co Ltd.

    The company has also shared the products and business highlights. It has reported that its DUV lithography business, has been recognized as the first TWINSCAN NXT:2050i in Q3, which shipped in early Q4. Furthermore, it revealed that in its EUV business, the vast majority of the TWINSCAN NXE:3400B systems in the field has now been upgraded with productivity packages.

    ASML Holding N.V. (NASDAQ: ASML) shares were trading up 1.53% at $405.15 during the trading session of  Tuesday. ASML Holding N.V. (ASML)share price went from a low point around $191.25 to briefly over $402.86 in the past 52 weeks, though shares have since pulled back to $405.15. It has moved up 111.84% and 0.57% from its 52-weeks low and high, respectively. ASML market cap has remained high, hitting $167.99 billion at the time of writing.

    ASML’s CEO has provided the outlook for 2021. CEO reports that the company foresees fourth-quarter revenue of between €3.6 billion and €3.8 billion with a gross margin of around 50%. It is expecting its R&D costs of €550 million and SG&A costs of €140 million. The company outlook for the full year 2020 is therefore confirmed. The projected annualized effective tax rate is around 14% for 2020. ASML revealed that it is anticipating the ‘low double-digit growth’ in 2021 because of the uncertainties prevailing due to the ongoing pandemic.