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Tag: US

  • Beasley Broadcast Group (NASDAQ: BBGI) Announces Operating Results

    Beasley Broadcast Group, Inc. (NASDAQ: BBGI) shares traded up 75.00% in the pre-market trading session after the company revealed operating results for three and nine-month periods ended on 30 September 2020. The company has reported net revenue of $49.6 for the period of three months ended September 2020, as compared to the net revenue of $66.1 in the same period ended September 30, 2019.

    Beasley has recorded net revenue of $137.7 for the period of nine months ended September 30, 2020, as compared to the $189.5 net revenue of nine months period ended September 30, 2019. The decrease in the revenue showed the impact of the COVID-19 pandemic as the commercial advertising reduced due to the pandemic.

    The Broadcasting company has revealed that its operating income in the third quarter of 2020 was $0.8 compared to an operating income of $9.4 million in the third quarter of 2019. Additionally, its operating income during the nine months period ended September 30, 2020, was (23.9) as compared to the operating income of 26.9 during the nine months period ended September 30, 2020.

    Beasley Broadcast Group, Inc has experienced a net loss of $2.7 million, or $0.08 per diluted share, in the three months ended September 30, 2020, as compared to a net income of $3.0 million, or $0.11 per diluted share, in the three months ended September 30, 2019. The loss which the company reported is because of the coronavirus pandemic.

    The company has recorded a decline in Station Operating Income. It has revealed that its net income in three months period ended on September 30, 2020, was $8.1 as compared to the SOI of $16.7 in the three months period ended on September 30, 2019. Additionally, its SOI for nine months period ended on September 30, 2020, was $3.8 as compared to the same period of 2019 which has an SOI of $44.8.

    CEO Caroline Beasley anticipates that the company will experience strong recovery in the continued third period of 2020. The company has taken necessary steps such as reduction of the station, furloughs, headcount reductions. etc to reduce the impact of coronavirus pandemic.

    Beasley Broadcast Group, Inc. (NASDAQ: BBGI) shares were trading up 58.87% at $1.98 at the time of writing on Tuesday. Beasley Broadcast Group, Inc. (BBGI) share price went from a low point around $1.15 to briefly over $5.15 in the past 52 weeks.  BBGI market cap has remained high, hitting $35.56 million at the time of writing.

  • TG Therapeutics (NASDAQ: TGTX) Ublituximab Receives Fast Track Designation In US

    TG Therapeutics (NASDAQ: TGTX) Ublituximab Receives Fast Track Designation In US

    TG Therapeutics, Inc. (NASDAQ: TGTX) has announced Wednesday that it has received the Fast Track Designation for its ublituximab/umbralisib combo for the treatment of adult patients with chronic lymphocytic leukemia (CLL) from the FDA.

    Fast Track is basically the program developed to speed up the review of drugs that treat serious diseases and address unmet medical needs. Filling an unmet medical need is to provide the treatment for those diseases for which no medical treatment is available earlier or offering a medical treatment that may be better than available therapy.

    TG Therapeutics, Inc. (NASDAQ: TGTX) shares were trading up 0.31% at $28.75 at the time of writing on Wednesday. TG Therapeutics, Inc. share price went from a low point around $5.38 to briefly over $31.97 in the past 52 weeks, though shares have since pulled back to $28.75. TGTX market cap has remained high, hitting $334.37M at the time of writing.

    The application of Fast Track designation is based on the data from UNITY-CLL Phase 3 study. The company has announced earlier in UNITY-CLL Phase 3 data that the treatment has shown a positive result. This Fast Track Designation is very important for the company. UNITY-CLL Phase 3 is the study to analyze the combination of ublituximab and umbralisib. Ublituximab is a glycoengineered anti-CD20 monoclonal antibody, and umbralisib is a dual inhibitor of PI3K-delta and CK1-epsilon.

    Chronic lymphocytic leukemia (CLL) is a serious issue in the current period as more than 20,000 new cases have been reported alone in the US. After initial treatment, its symptoms disappear for a period of time but the disease is considered incurable. People need additional treatment after the return of the malignant cells.

  • Sunworks (NASDAQ: SUNW) Stock Is Soaring Today. Here’s Why

    Sunworks (NASDAQ: SUNW) Stock Is Soaring Today. Here’s Why

    Sunworks, Inc. (NASDAQ: SUNW) has shown strong performance on Wednesday session as its stock soared 45%. The strong performance of Sunworks highlighted the positive sentiments by investors after the company disclosed that it has received $10 million of new commercial and agriculture projects in the third quarter. This is the strongest quarterly booking activity of the company since the start of the COVID-19 pandemic in early 2020.

    The company revealed that the orders come from 19 existing and new customers and it includes the installation of more than 4.4 million megawatts. California based company has unveiled that the new projects it has received in the third-quarter comprised 3.2 million for modular-home sites in Northern and Southern California. Agriculture projects consist of $1.8 million for a follow-on project from a large customer and $1.4 million from a new customer.

    For the follow-on sale of Cibao Meat Products in the Northeast the total amount is $700,000. It will include the building of 154kW a parking canopy that will include 8 EV charging stations. Sunworks Chairman Chuck Cargile revealed that much of the company’s agriculture, commercial and industrial sales activities were halted due to the ongoing pandemic.

    But in the third quarter, the company’s team worked hard and assured its investors that this is the right time to invest in solar and get benefits from the incentives currently offered. The company disclosed that the huge volume of sales in the third quarter was booked in the last week of September. Sunworks is positive that its strong performance will continue in the fourth quarter as the company has received two major projects in the first week of October.

    The company’s Chairman revealed that the strong performance of the company has shown that the demands for its solar solutions specifically among agriculture and commercial customers will continue to increase in the future.

    Sunworks, Inc. (NASDAQ: SUNW) shares were trading up 45.00% at $4.06 at the time of writing on Wednesday Sunworks, Inc. share price went from a low point around $0.29 to briefly over $8.50 in the past 52 weeks. SUNW market cap has remained high, hitting $66.87 million at the time of writing. Looking at its liquidity, it has a current ratio of 1.30.

     

  • Devon Energy (NYSE: DVN) Announces Merger Agreement With WPX Energy

    Devon Energy (NYSE: DVN) Announces Merger Agreement With WPX Energy

    Devon Energy Corporation (NYSE: DVN) started Monday’s session with a strong performance as its stock price rally by more than 5%. The company’s strong performance has highlighted the positive sentiments of investors after the company has announced that it is planning to buy WPX Energy Inc. for $2.56 billion as it is trying to boost its presence in the Delaware portion of the prolific shale field.

    The merged company which will be named Devon Energy will get benefits from improved scale, enhanced margins, higher free cash flow, and the financial strength to speed up the return of cash to shareholders through an industry-first “fixed plus variable” dividend strategy. The transaction is anticipated to close in the first quarter of 2021. Both the company’s boards of directors have unanimously approved the decisions.

    As per the agreement, all the shareholders of WPX will get the equal exchange ratio of 0.5165 shares of Devon common stock for each share of WPX common stock owned. After the execution of transactions, WPX shareholders will own 43 percent of the combined company on a fully diluted basis while Devon shareholders will own approximately 57 percent of the combined company.

    Devon Energy Corporation (NYSE: DVN) shares were trading up 5.27% at $9.29 at the time of writing on Monday. Devon Energy Corporation (DVN) share price went from a low point around $4.60 to briefly over $26.42 in the past 52 weeks, though shares have since pulled back to $9.29. It has moved up 101.75% from its 52-weeks low and moved down -64.86% from its 52-weeks high. Devon Energy Corporation’s market cap has remained high, hitting $3.43 billion at the time of writing.

    The merger agreement will speed up Devon’s transition to a business model that prioritizes free cash flow generation overproduction growth. The merger agreement will maintain a strong balance sheet and liquidity of the company. This agreement will create one of the largest oil producers in the US and it also increases the scale and diversification.

  • TikTok Owner ByteDance Decides To Spend Billions In Singapore Amid US Ban Orders

    ByteDance, a Chinese multinational company, and owner of video-sharing app TikTok is currently striving to establish its foothold in Singapore as the company is planning to expand its business in Asia. ByteDance is planning to spend several billion dollars and has decided to add hundreds of jobs in the coming three years.

    Sources disclosed that the company also has applied for a license to run a digital bank. The investment decision came soon after the ByteDance is forced to sell its TikTok operations in the US or it will get banned. President Donald Trump said on Thursday that he will not extend the fast-approaching deadline he set for ByteDance to sell its TikTok Operations or have it banned.

    Earlier in July, Trump announced that he will ban TikTok operations in the US. He declared in an executive order that there is valid evidence that ByteDance might take actions that are dangerous for the national security of the US. ByteDance is also planning to establish a data center in Singapore. People familiar with the matter disclosed that the operations of ByteDance Inc, in Singapore, include TikTok and Lark, an enterprise software business.

    The Beijing-based company is continuously striving to establish its business deeper into Asia after facing difficulties in India, the US, and the UK. In India, TikTok is among the hundred Chinese-made apps that are banned in India for security reasons. In the US, TikTok has already received the deadline to sell its operations, or otherwise, it will be banned.

    UK government has imposed restrictions on the activities of TikTok. PM Boris’s chief of staff Eddie Lister has earlier revealed by conducting a review that TikTok doesn’t cause a big security threat but may still ask the government to stops the company from moving users’ data out of the country.

    ByteDance has recently announced 200 new jobs in Singapore for positions in everything from payments to e-commerce and data privacy. Singapore is a highly attractive place for the tech firm and many companies are looking forward to work from there to address the Southeast Asian markets needs.

     

  • LMP Automotive (NASDAQ: LMPX) To Acquire Two Dealerships

    LMP Automotive (NASDAQ: LMPX) To Acquire Two Dealerships

    LMP Automotive Holdings Inc. (NASDAQ: LMPX) disclosed it has acquired two dealerships including two new vehicle franchises and 58 acres of facility and property in Florida. LMP Automotive which based on the ‘Buy, Subscribe, Sell and Repeat business model aimed to expand its free delivery radius and reduce cost.

    After buying two additional KIA vehicle franchises, the total of contracted vehicle franchises of LMP Automotive Holdings reached 13 this quarter including 1 Toyota, 3 KIA, 2 Chevrolet, 1 Subaru, 2 GMC, 1 Cadillac, 1 Hyundai, and 2 Buick dealerships.

    LMP Automotive Holdings Inc has almost 4,000 vehicles available for customers in 2021. LMP Automotive is currently planning to acquire 30 to 40 more dealerships in 2021. LMPX’s main aim is to add $5 to $7per share in additional net income. This decision helps LMP Automotive to increase its inventory in online stores.

    Share of LMP Holdings Inc (NASDAQ: LMPX) soared 31.69% as it gained +4.25 on Friday. It had reported a trading volume of 1.6 million as compared to the average volume of 248.05K. In the past 52-weeks of trading, this company’s stock fluctuated between the low of $3.38 and a high of $49.30.

    It had moved up 438.41% from its 52-weeks low and moved down -64.18% from its 52-weeks low. Looking at its profitability, it has a return on investment of -22.20%. LMP Automotive market capitalization remained high, hitting 132.08 million at the time of writing.

    The new franchises addition anticipated adding approximately $210 million in annual revenue, $7.1 million in income, and $0.64 per share in 2021. LMP Automotive has earlier announced its Q2 results. It has reported a 44% increase in its revenue and its Gross Profit rose 85% to $1.5 million. LMP Automotive showed the strongest performance in the Q2.

  • AMC Entertainment (NYSE:AMC) Soars After Announcing Re-Opening Plan

    AMC Entertainment (NYSE:AMC) Soars After Announcing Re-Opening Plan

    Shares of AMC Entertainment Holdings, Inc. (NYSE: AMC) has jumped higher after it has announced its plan to open its theatres by the weekend. AMC will resume operations in California theatre for the first time on Friday, the company disclosed.

    The announcement of positive vaccine developments and decreased new cases has caused an increase in the group in recent weeks. The decision of opening 140 theatres by Saturday, bringing a total of 70% of its movie theatres in the US back into operation.

    AMC Entertainment Holdings shares were trading up 15.98% as it gained +0.97 on Wednesday. It has opened at $7.01 and has a closing price of $7.04. Its share price went from a low point around $1.95 to briefly over $12.13 in the past 52 weeks. It has a day low and high range of $6.46 and $7.71, respectively.

    AMC market cap has remained high, hitting $796.51 million at the time of writing. It has moved up 261.03% from its 52-weeks low and moved down -41.96% from its 52-weeks high. AMC had reported a trading volume of 43.06 million as compared to the average volume of 7.55 million.

    If we look at its profitability, it has a return on assets (ROA) of -22.79%, and return on investment (ROI) of 2.60%. AMC’s Gross Margin is 64.50%, Profit Margin is -75.30%, and an Operating Margin is -64.30%. Continuing to look at its liquidity, it has a current ratio of 0.40. Similarly, its quick ratio is also 0.40.

    The re-opening decision came after Warner Bros. announced the plan to release its oft-delayed Christopher Nolan thriller ‘Tenet’ in U.S. theaters on Thursday.

    As the COVID-19 pandemic continued to rise the movie theatres all around the nations were closed in mid-march. As the cases are decreasing continuously the theatres are now planning to resume operations.