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Tag: Urban One

  • Urban One (UONE) Stock Surged Before Quarterly Results

    Urban One (UONE) Stock Surged Before Quarterly Results

    The stock value of Urban One, Inc. (NASDAQ: UONE) saw a notable increase of 4.40%, culminating at $4.03 during the most recent trading session. This increase was driven by the excitement around the upcoming announcement of the company’s quarterly financial data.

    In announcing the business’s results for the quarter ending September 30, 2023, Urban One (UONE) reported net sales of around $117.8 million, which is a 2.8% decrease from the same time in 2022. An operational loss of around $56.1 million was revealed in the financial report for the same quarter, which is a significant departure from the operating loss of roughly $18.0 million reported during the same time in 2022.

    The operational income for the broadcast and digital operations division was $43.8 million, which represents a 13.9% decrease from the 2022 equivalent. Comparatively speaking, the net income for the same time in 2022 was roughly $3.5 million, or $0.07 per share (basic), while the net loss for the quarter was approximately $54.4 million, or $1.14 per share (basic). Compared to the nearly $44.3 million reported in the third quarter of 2022, the Adjusted EBITDA for the period was about $34.1 million.

    During the recent Earnings call on December 7th, Urban One acknowledged that the third quarter closely aligned with expectations. The radio markets for UONE sustained softness into the fourth quarter, with projections indicating an estimated 14% overall decline, a 23% downturn in same stations, and a 13% decrease in same stations excluding political advertising.

    The first quarter of radio operations is anticipated to exhibit a low-single-digit decline on a same-station basis. While Reach Media and Digital segments displayed relatively robust performance in Q3, the challenge of subscriber churn persisted in the linear TV business, affecting the entire industry. Urban One anticipates concluding the year in accordance with its earlier guidance for Adjusted EBITDA, ranging between $125 million and $128 million.

  • Stocks to Watch as China Industrial Data Uplifts Markets

    Stocks to Watch as China Industrial Data Uplifts Markets

    It’s a good start to the week for stock markets all across the world. In Europe, the German industrial indices are on the rise, uplifting the rest of the market with them, with the DAX currently up by over 2%. It’s the same scenario in the U.K and France where the FTSE 100 and the CAC 40 are up by 1.5% and 2% respectively.  U.S equities are headed for an equally good day if their pre-market price action is anything to go by.

    At the time of writing, the S&P 500 was up 1.35%, the Dow by 1.34%, and the NASDAQ by 1.68%. The excitement in the market is driven by positive data from China. Chinese data shows that industrial profits remain strong and that they have been on a growth path for four months in a row.

    According to the country’s statistical bureau, industrial profits increased by19.1% in August to 612.81 million yuan, compared to a similar month in 2019. This has created excitement across global markets that the COVID-19 slump in economic activity is not as bad as had been feared. As market optimism rises, stocks that have exciting news are rallying more than the rest of the market. Some of the top performers ahead of markets are as below:

    Piedmont Lithium Limited [NASDAQ: PLL]

    Piedmont Lithium Ltd is a top performer pre-market and is up by over 200%. This follows the company’s announcement that it had signed a lithium ore supply agreement with Tesla. Under the initial 5 year deal, the company will supply a third of the planned 160k tons of spodumene concrete annually from its site in North Carolina. The deal also has a clause for an extension for another 5 years. In a statement, the company stated that the deal was the first step in its supply of lithium in the U.S market. Deliveries are expected to begin in between July 2022 and July 2023.

    Urban One [NASDAQ: UONE]

    While its gains are not that huge, it is still one of the biggest gainers pre-market. This follows news about a pending patent for circle technology. If it continues its current momentum, it stands to be one of the big gainers at the start of the week.

    Oxbridge Re Holdings Limited [NASDAQ: OXBR]

    This is one of the biggest performers pre-market and is up by over 90%. There is no major news about the company, which makes it a momentum-driven move. If markets keep gaining in the day, it could gain big too.