Briefing.com

Hourly In Play (R)

Updated: 02-Mar-21 06:00 ET

 Today's In Play   
06:01  WIRES On The Wires

  • AppHarvest (APPH) announced that it has purchased the Morehead, Ky. controlled environment agriculture facility and the property on which it is located from Equilibrium, a leading sustainability investment firm, for $125 million. Equilibrium had worked in conjunction with AppHarvest to acquire the property and funded construction of the facility to lease to AppHarvest.
  • Four Corners Property Trust (FCPT) announced the acquisition of a Chili's restaurant property for $3.2 million. The property is located in a strong retail corridor in Georgia and will be occupied under a new triple net lease by a franchisee operator with 20 years of term remaining and with annual rent increases of 1.5%. The transaction was priced at a 6.5% going-in cash capitalization rate, exclusive of transaction costs.
  • Lockheed Martin (LMT) and NEC Corporation have signed a joint collaboration agreement to extend their partnership utilizing NEC's System Invariant Analysis Technology. The companies are also finalizing a licensing agreement with a multi-year option. With a focus on driving speed and efficiency of system diagnostics, this partnership will continue to provide proven artificial intelligence and machine learning capabilities across product lifecycles. This positively impacts design and production phases of spacecraft development, including applications on NASA's Orion vehicle for the Artemis mission.
  • EQT announced that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Dorner to Columbus McKinnon (CMCO) for an Enterprise Value of USD 485 mln. Founded in 1966 and headquartered in Hartland, WI, Dorner is a leading global provider of high precision conveyor solutions for high growth and resilient end markets including e-commerce, life sciences, food & beverage, industrial automation, packaging, and CPG. Dorner supports the quickly evolving automation industry, which is backed by the accelerating adoption of automated solutions. The transaction is subject to customary conditions and approvals and is expected to close in Q2 2021.
  • Amazon Web Services, an Amazon.com company (AMZN), announced the launch of a second full region in Japan, the AWS Asia Pacific (Osaka) Region. The region is an expansion of the existing AWS Osaka Local Region, which opened to select customers in February 2018. The new region consists of three Availability Zones (AZs) and joins the existing 25 Availability Zones in eight AWS Regions across Asia Pacific in Beijing, Hong Kong, Mumbai, Ningxia, Seoul, Singapore, Sydney, and Tokyo.
  • Baker Hughes (BKR) and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker Hughes' Subsea Drilling Systems business with Akastor's wholly owned subsidiary, MHWirth AS. The Company will deliver a global full-service offshore drilling equipment offering that will provide customers with a broad portfolio of products and services.
  • The Australian Taxation Office has issued Rio Tinto (RIO) with amended assessments of A$359.4m (US$279.8m) primary tax and A$47.1m (US$36.7m) of interest. This is in addition to the more than A$8.4bn (US$6.4bn) of Australian income tax paid during the relevant period. The assessments relate to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. This borrowing was repaid in 2018. Borrowing to fund the payment of a dividend is a normal commercial practice. Rio Tinto is confident of its position and will dispute the assessments. In accordance with the usual practice Rio Tinto will pay 50% of the primary tax up-front as part of the objections process.
  • OpenGate Capital, a global private equity firm, announced that it has signed a definitive agreement to acquire the ScioTeq and TREALITY Simulation Visual Systems businesses from TransDigm Group Incorporated (TDG). The acquisition is subject to regulatory approvals and customary closing conditions. Terms of the agreement were not disclosed.
  • Daqo New Energy (DQ) announced that it has signed a three-year high-purity polysilicon supply agreement with Zhonghuan Semiconductor for its solar wafer business. Zhonghuan is a global leading high-quality mono-crystaline solar wafer producer. Under the supply agreement, Daqo New Energy will provide Zhonghuan with high-purity mono-grade polysilicon in a total amount of 41,000 MT over three years from 2021 to 2023. Actual prices will be negotiated by both parties monthly according to market conditions. As part of the supply agreement, Zhonghuan will make an advance payment to Daqo New Energy.
  • eBay Inc. (EBAY) can confirm that the UK Competition and Markets Authority has announced that it considers there are reasonable grounds to believe the remedies presented by eBay and Adevinta address their concerns with respect to the proposed transaction between eBay and Adevinta. The remedies proposed by eBay and Adevinta are the divestment of each company's primary classifieds operations in the UK: Shpock, Gumtree and Motors.co.uk. These remedies have been proposed in response to the competition concerns raised by the CMA on February 16, 2021.
  • Callaway Golf (ELY) officially announced their new Chrome Soft X LS Golf Ball. It promotes low spin for max distance, with Tour level short game control, and expands the popular Chrome Soft Golf Ball lineup.
  • Allot (ALLT) announced that Exetel, Australia's largest independent internet service provider, has launched zero-touch, clientless cybersecurity and content control services for their residential customers, powered by Allot NetworkSecure. Exetel is the first service provider in Australia to launch security services based on Allot solutions.
  • Ambarella (AMBA) announced that Motional, a global leader in driverless technology, has selected Ambarella's CVflow family of AI processors for its driverless vehicles. The processors work with Motional's network of LiDAR, camera, and radar sensors to enable the vehicles' safe operation in diverse and challenging road conditions.
  • Aurora Mobile (JG) announced that it has entered into a strategic partnership with The Trade Desk (TTD). Aurora Mobile and The Trade Desk will jointly provide advertisers with premium big data solutions leveraging Aurora Mobile's powerful artificial intelligence ("AI") and advanced analysis technology, helping advertisers improve the reach, scale and effectiveness of their advertising campaigns.
06:01  LI Li Auto reports February deliveries increased 755% yr/yr (25.86 )

  • Co announced that the Company delivered 2,300 Li ONEs in February 2021, representing a 755.0% year-over-year increase, which took cumulative Li ONE deliveries to 41,276.
06:01  PDD Pinduoduo doubles agricultural GMV to record RMB270 bln in 2020 (186.15 )

  • Co doubled the value of agricultural orders it handled last year, exceeding the company's earlier estimate as the pandemic pushed more people to order food and groceries online.
  • The Nasdaq-listed company recorded more than 270 billion yuan ($42 billion) in agriculture-related GMV in 2020, up from 136 billion yuan in 2019. The firm had said last December it was on track to hit 250 billion yuan in GMV for the category.
  • Sales were helped in part by the pandemic, which pushed more producers to seek alternatives to traditional wholesale channels. Lockdown restrictions pushed consumers to embrace digital offerings.
06:01  ARGX argenx receives acceptance by FDA of BLA filing for Efgartigimod for the treatment of generalized myasthenia gravis (340.53 )

  • Co announced that the FDA has accepted for review the Biologics License Application (BLA) for intravenous efgartigimod, the company's investigational FcRn antagonist and lead product candidate, for the treatment of generalized myasthenia gravis. The FDA has set a standard 10-month review process with a PDUFA target action date of December 17, 2021.
  • argenx also announced the opening of its pre-approval access program in the U.S., which will allow eligible people living with gMG to receive treatment with efgartigimod. The purpose of the PAA is to open availability of an investigational treatment to people who have a high degree of unmet clinical need with gMG and are not able to participate in a clinical trial.
  • argenx is also on track to submit an application for efgartigimod to Japan's Pharmaceuticals and Medical Devices Agency in the first half of 2021 and the European Medicines Agency in the second half of 2021.
06:01  MASI Masimo receives CE Mark for the Rad-G with Temperature (256.08 )

  • Co announced the CE marking of the Rad-G with Temperature, a rugged handheld device that provides clinically proven SET pulse oximetry, respiration rate from the pleth, and other important parameters alongside clinical-grade, non-contact infrared thermometry. With its long-lasting rechargeable battery, robust rubber casing, light weight, and integrated noninvasive, real-time forehead temperature measurement, Rad-G with Temperature makes it easier for clinicians to quickly assess patients and make informed care decisions anywhere pulse oximetry or vital signs checking is needed in a compact, portable form factor.
06:01  XPEV Xpeng Inc. reports 2,223 vehicles delivered in February (35.50 )

  • XPeng delivered a total of 2,223 Smart EVs in February 2021, consisting of 1,409 P7s, the Company's smart sports sedan, and 814 G3s, its smart compact SUV. Vehicle deliveries in January and February 2021 combined represented a 577% increase year-over-year. Cumulative P7 deliveries reached 20,181 since its launch in the second quarter 2020.
  • February deliveries reflect the anticipated seasonal decline in deliveries due to the slowdown in the week-long Chinese New Year holiday. The Company is witnessing robust customer demand as sales and delivery activities resumed after the holiday.
06:01  JELD JELD-WEN prices secondary offering of 8 mln shares of common stock at $29.25 per share; co intends to repurchase 800,000 of the 8 mln shares (30.60 )

 
06:01  KRTX Karuna Therapeutics prices of 2,083,334 shares of its common stock at $120.00 per share (124.77 )

 
06:01  SITC SITE Centers prices offering of 15 mln shares of common stock at $13.20 per share (13.56 )

 
06:01  WSC WillScot Mobile Mini prices secondary offering of 12,750,000 shares of its common stock at $27.20 per share (27.78 )

 
06:01  DDD 3D Systems misses by $0.01, reports revs in-line (38.79 )

  • Reports Q4 (Dec) earnings of $0.09 per share, $0.01 worse than the S&P Capital IQ Consensus of $0.10; revenues rose 2.7% year/year to $172.7 mln vs the $171.79 mln S&P Capital IQ Consensus.
  • 2021 Gross Profit Margin Outlook - On a non-GAAP basis, the company expects 2021 gross profit margins to be between 40% and 44%, taking into account businesses divested in 2020 and early 2021, as well as the impact of the company's cost savings initiatives.
 Monday After the Close   
19:01  SQ Square announces its industrial bank, Square Financial Services, has begun operations (240.81 +10.62)

  • Co announces its industrial bank, Square Financial Services, has begun operations after completing the charter approval process with the FDIC and the Utah Dept of Financial Institutions.
  • Square Financial Services is an independently governed subsidiary of Square, its primary purpose will be to offer business loan and deposit products, beginning with underwriting and originating business loans for Square Capital's existing lending product.
  • Moving forward, Square Financial Services will be the primary provider of financing for Square sellers across the US.
18:26  TTEC TTEC Holdings beats handily for Q4, guides FY21 above consensus; also to acquire Avtex, a full-service CX technology company, increases dividend by 7.5% (88.67 +4.53)

  • Reports Q4 (Dec) earnings of $1.22 per share, excluding non-recurring items, $0.51 better than the S&P Capital IQ Consensus of $0.71; revenues rose 23.8% year/year to $570.97 mln vs the $509.12 mln S&P Capital IQ Consensus.
  • Co issues upside guidance for FY21, sees EPS of $4.06-4.25, excluding non-recurring items, vs. $3.08 S&P Capital IQ Consensus; sees FY22 revs of $2.147-2.183 bln vs. $1.96 bln S&P Capital IQ Consensus.
  • Co also announces it has agreed to acquire Avtex, a full-service CX technology and solutions leader. The acquisition, once completed, will be immediately accretive and highly complementary to TTEC's well-established CX-as-a-Service (CXaaS) customer experience technology and services platform.
  • Co also declares a cash dividend of $0.43 per share. This semi-annual dividend represents a 7.5%.
17:45  WTRG Essential Utilities files for mixed securities shelf offering, no amount given (43.02 +0.94)

 
17:44  QURE uniQure files for mixed securities shelf offering, no amount given (38.05 +1.35)

 
17:34  EQC Equity Commonwealth CFO Adam Markman resigns, Bill Griffiths will take over as CFO (28.12 -0.10)

  • Co announces that CFO Adam Markman has resigned, effective March 31, 2021. Mr. Markman is leaving to pursue other professional opportunities.
  • Bill Griffiths has been appointed CFO and Treasurer, effective April 1, 2021. Mr. Griffiths has served as Senior VP of Capital Markets since 2014.
17:26  ASLN ASLAN Pharmaceuticals commences public offering of $60.0 mln of its ADSs (5.25 +0.82)

ASLAN expects to use proceeds primarily to fund its planned ASLAN004 Phase 2b dose-range finding trial in moderate-to-severe atopic dermatitis patients. ASLAN is also required to repay $2.25 mln of principal amount plus accrued and unpaid interest under its loan facilities entered into in October and November 2019 with the net proceeds from this offering. The remainder of the net proceeds, if any, will be used to fund new and other ongoing research and development activities, working capital, and other general corporate purposes.
17:25  CDAY Ceridian HCM announces private offering of $500 mln in aggregate principal amount of senior unsecured convertible notes due 2026 (92.92 +3.26)

 
17:24  SCANX Notable earnings/guidance movers: ZM +8.4%, AMRC +6.6%, HLIO +5.8% on upside; FGEN -17.3%, AI -11.6%, INSG -6.9%, INO -6.6%, MELI -6.1%, SWCH -5.6% on downside

  • Earnings/guidance gainers: ZM +8.4%, AMRC +6.6%, HLIO +5.8%, CLOV +2.1%, RPAY +1.6%, DDD +1.3%
  • Earnings/guidance losers: FGEN -17.3%, AI -11.6%, INSG -6.9%, INO -6.6%, MELI -6.1%, SWCH -5.6%, NIO -4.1%, SRPT -4.1%, RGNX -3.8%, OSUR -2.4%, APPF -2.2%
17:23  ACN Accenture announces acquisition of Australia-based GRA; terms not disclosed (258.16 +7.26)

Accenture has acquired Australia-based supply chain and logistics consulting firm GRA. The firm specializes in end-to-end supply chain and logistics strategies and operations, working with some of Australia's leading organizations in areas such as government, aerospace & defense, and consumer goods to turn their supply chains into engines for growth.
17:21  SP SP Plus to provide parking management and shuttle operations at St. Louis Lambert Intl Airport (34.16 +1.01)

 
17:20  UFPI UFP Industries subsidiary acquires assets of J.C. Gilmore; terms not disclosed (63.15 +2.15)

UFP Industries announced that one of its wholly owned subsidiaries, The UBEECO Group, has acquired the assets of J.C. Gilmore Pty. Gilmores is a distributor in the industrial and construction industries of packaging tapes, stretch films, packaging equipment, strapping, construction protection products, and other items, with 2020 sales of $15 mln AUD. This transaction adds a wide portfolio of protective packaging to the industrial packaging products offered by UBEECO and its sister company, Integra Packaging, and expands the companies' customer base throughout Australia.
17:17  SLF Sun Life appoints Manjit Singh as CFO, effective March 29 (48.72 +0.66)

Sun Life announced the appointment of Manjit Singh as EVP and Chief Financial Officer, reporting to Kevin Strain, President and incoming CEO, Sun Life, effective March 29. He joins Sun Life from a major Canadian bank, where he was most recently EVP of Finance.
17:12  TCBK TriCo Bancshares increases quarterly cash dividend to $0.25/share from $0.22/share; authorizes 2.0 mln common share repurchase program (44.52 +1.45)

 
17:12  GSX GSX Techedu says its internal review did not uncover evidence that would have a material impact on financial statements (105.05 +2.19)

  • Co provides an update on the status of its internal review. As previously disclosed, following the publication of a number of short-seller reports, the co engaged third-party professional advisers to conduct an independent review into these reports' key allegations.
  • The Internal Review is now substantially complete. The Internal Review did not uncover evidence that would have a material impact on GSX's previously reported financial statements. Co intends to continue to cooperate with the SEC in connection with the ongoing SEC investigation, as previously disclosed.
17:11  APA Apache and APA Corporation complete new holding company structure (19.52 -0.21)

Apache and APA Corporation today announced completion of the previously announced holding company structure, making APA the parent holding company of Apache. APA replaces Apache as the public company trading on the Nasdaq stock market under the ticker symbol "APA." Apache now operates as a wholly-owned subsidiary of APA.
17:08  M Macy's announces planned departure of Chief Operations Officer John Harper, effective August 1 (15.32 +0.11)

  • Macy's today announced changes to its senior leadership team. Aligned with the company's recently updated Polaris growth strategy, these changes to increase agility and efficiencies include:
    • John Harper, chief operations officer, will depart the company effective August 1, 2021. Subsequently, the role of chief operations officer will be eliminated. With the elimination of the COO role, Marc Mastronardi, chief stores officer, and Dennis Mullahy, chief supply chain officer, will report to Jeff Gennette, chairman and CEO.
    • Laura Miller has been appointed chief information officer, effective March 15. Most recently, she served as chief information officer of InterContinental Hotel Group (IHG). Ms. Miller succeeds chief technology officer Naveen Krishna, who is leaving the company.
    • Marla Beck, Bluemercury's CEO and co-founder, will leave the company this summer. Macy's has commenced a search for a new chief executive officer.
17:05  NIO NIO misses by $0.55, reports revs in-line; guides Q1 revs above estimate (49.76 +3.98)

  • Reports Q4 (Dec) loss of RMB 0.93 per share, RMB 0.55 worse than the two analyst estimate of (RMB 0.38); revenues rose 133.2% year/year to RMB 6.64 bln vs the RMB 6.71 bln S&P Capital IQ Consensus.
  • Deliveries of vehicles were 17,353 in the fourth quarter of 2020, including 4,873 ES8s, 7,574 ES6s and 4,906 EC6s, compared with 8,224 in the fourth quarter of 2019 and 12,206 vehicles delivered in the third quarter of 2020.
  • Vehicle margin ii was 17.2% in the fourth quarter of 2020, compared with negative 6.0% in the fourth quarter of 2019 and 14.5% in the third quarter of 2020.
  • Co issues upside guidance for Q1, sees Q1 revs of RMB7,382.3-RMB7557.2 vs. RMB 4.67 bln single analyst estimate. Expects deliveries of the vehicles to be between 20,000 and 20,500 vehicles, representing an increase of approximately 421% to 434% from the same quarter of 2020, and an increase of approximately 15% to 18% from the fourth quarter of 2020.
17:03  MS Morgan Stanley files for 2,318,696 share common stock offering by selling shareholders (79.09 +2.36)

 
17:01  RDHL RedHill Biopharma has entered into an underwriting agreement with H.C. Wainwright & Co., under which the underwriter has agreed to purchase on a firm commitment basis 1,250,000 American Depositary Shares of the Company, at a price to the public of $8.00 per ADS (9.23 -0.27)

  • Each ADS represents ten ordinary shares, par value NIS 0.01 per share, of the Company. The closing of the offering is expected to occur on or about March 4, 2021.
  • The gross proceeds to RedHill, before deducting underwriting discounts and commissions and offering expenses and assuming no exercise of the underwriter's option to purchase additional ADSs, are expected to be $10 mln. The Company intends to use the net proceeds from this offering to fund its clinical development programs, commercialization activities and for acquisitions and general corporate purposes.
16:59  NTAP NetApp files for mixed securities shelf offering, no amount given (65.23 +2.63)

 
16:51  FGEN FibroGen and AstraZeneca (AZN) regulatory update on roxadustat; FDA to hold advisory committee meeting to review NDA (50.53 +0.50)

  • FibroGen and its partner, AstraZeneca today announced that the Cardiovascular and Renal Drugs Advisory Committee of the FDA will hold an advisory committee (AdCom) meeting to review the new drug application for roxadustat in the US. The companies have not received a confirmed AdCom meeting date from the FDA.
  • "While disappointed with the news today, FibroGen and AstraZeneca are committed to working with the FDA to bring roxadustat to patients with anemia of CKD in the U.S. as soon as possible," said Enrique Conterno, CEO, FibroGen. "We continue to be confident in the efficacy and safety profile of this potential new medicine based on positive results from a global Phase 3 program encompassing more than 8,000 patients."
16:50  AMK AssetMark to acquire Voyant for $145 mln in cash and stock transaction (24.85 +1.22)

  • AssetMark announced that it will acquire Voyant, a leading global provider of SaaS-based financial planning and client digital engagement solutions. Voyant serves more than 20,000 advisors across financial institutions and small advisor firms in the United Kingdom, Canada, Ireland, and the US.
  • The acquisition of Voyant is expected to be immediately accretive to AssetMark's adjusted EPS in 2021 and beyond. The acquisition also provides revenue diversification as Voyant subscription-based revenue is not market or interest rate sensitive.
  • AssetMark will acquire Voyant for $145 mln in a cash and stock transaction. The deal is funded with $120 mln in cash and $25 mln in AssetMark stock. The transaction is expected to close in mid-2021.
16:49  GMDA Gamida Cell files for 6,334,455 share common stock offering by selling shareholders (9.83 +0.47)

 
16:47  KNL Knoll files for 10,680,358 share common stock offering by selling shareholder (16.98 +0.67)

 
16:44  ORA Ormat Tech says "comments in short seller report are inaccurate, false and misleading" (84.67 -1.00)

"Hindenburg's claims are inaccurate and filled with innuendo in an attempt to mislead investors about Ormat. We have been providing clean renewable energy in Kenya, Honduras and Guatemala for many years, supporting local communities. Our facilities are financed by numerous leading multinational banks, which conduct extensive due diligence on the Company and its operations prior to entering into lending agreements. We are committed to conducting all of our business according to the highest ethical standards, and we have clear policies in place to ensure our people and our partners act accordingly and consistent with all applicable laws and regulations."
16:44  BCRX BioCryst Pharma files for mixed securities shelf offering, no amount given (11.98 +1.20)

 
16:44  HLNE Hamilton Lane announces public offering of 1,453,110 shares of Class A common stock by Hamilton Lane and selling stockholders (91.90 +2.50)

Hamilton Lane intends to use the proceeds from the sale of its shares to settle in cash exchanges of membership units in Hamilton Lane Advisors held by certain of its members. Hamilton Lane will not receive any proceeds from the sale of shares by the selling stockholders.
16:43  SLQT SelectQuote announces the commencement of a proposed registered secondary public offering of 10,600,000 shares of common stock by certain stockholders of the Company, including entities associated with Brookside Equity Partners LLC and other stockholders of the Company (32.22 +1.72)

SelectQuote is not selling any shares of common stock and will not receive any proceeds from the proposed offering. The proposed offering will not change the number of shares of common stock that are currently outstanding.
16:41  IGT Intl Game Tech. PLC and Scientific Games (SGMS) announce cross-licensing agreement for cashless gaming intellectual property (18.75 +0.46)

International Game Technology PLC and Scientific Games have signed a cross-licensing agreement for patents related to cashless slot gaming technologies. Under the agreement, Scientific Games and IGT will be able to offer patented cashless gaming technologies from the companies' combined portfolios of casino management systems solutions to the US gaming industry. Financial terms of the agreement have not been disclosed.
16:39  EDIT Editas Medicine files for mixed securities shelf offering, no amount given (46.89 +3.03)

 
16:39  PSN Parsons awarded Air Force contract with shared value of $2 bln (35.33 -0.41)

Parsons was awarded an indefinite-delivery, indefinite-quantity multiple award task order contract by the U.S. Air Force Civil Engineer Center for architecture engineering capabilities, including design, construction management, and the restoration and modernization of Air Force Bases worldwide. The potential 10-year contract has a five-year base period and an option for an additional five years, worth a shared value of $2 bln across awardees.
16:37  ROKU Roku and Nielsen (NLSN) announce strategic alliance; Roku to acquire Nielsen's Advanced Video Advertising business (420.31 +24.83)

  • Roku has entered into an agreement to acquire Nielsen's Advanced Video Advertising  business, which includes Nielsen's video automatic content recognition and dynamic ad insertion technologies. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.
  • In addition, Nielsen and Roku will enter into a strategic partnership to integrate complementary Nielsen ad and content measurement products into the Roku platform and further advance Nielsen ONE, the company's cross-media measurement solution. The two companies will enter into a long-term commercial agreement to leverage Total Ad Ratings on the Roku platform. Specifically, Roku's media sales and ad-buying platform, OneView, will natively integrate Nielsen "always on" Digital Ad Ratings for advertisers. Roku will also enable publishers to implement Nielsen Digital Content Ratings.
16:37  WSC WillScot Mobile Mini launches secondary offering of 10.75 mln common shares by selling stockholder (27.78 +0.05)

The shares are being offered by the company's principal shareholder, Sapphire Holding S. r.l., an entity controlled by TDR Capital. The company is not offering any shares in the offering and will not receive any of the proceeds.
16:37  IBP Installed Building Products announces the acquisition of I.W. International Insulation doing business as Intermountain West Insulation; financial details not disclosed (115.06 +5.70)

Acquisition adds approximately $34.4 mln of annual revenue.
16:37  PACW PacWest Bancorp files for mixed securities shelf offering, no amount given (37.78 +1.54)

 
16:36  SHW Sherwin-Williams COO/President David B. Sewell to resign effective as of the close of business on March 12 to become chief executive officer of another company outside of the coatings industry (693.84 +13.50)

Mr. Sewell's Chief Operating Officer role will not be filled immediately. Mr. Morikis will serve as President in addition to his current role and assume Mr. Sewell's primary duties and responsibilities.
16:35  PRU Prudential files for mixed securities shelf offering, no amount given (88.69 +1.98)

 
16:35  EAF GrafTech International announces secondary offering of 30.0 mln common shares by selling stockholder (12.44 +0.61)

An affiliate of Brookfield Asset Management (BAM) and Brookfield Business Partners (BBU), members of the Brookfield consortium that has an existing ownership interest in GrafTech, intends to offer 30,000,000 shares of GrafTech common stock in a secondary offering. The selling stockholder will receive all of the net proceeds from the offering. GrafTech is not offering any shares of common stock in the offering.
16:34  AMBC Ambac beats by $0.80, net investment income increased 43% (17.39 +0.44)

  • Reports Q4 (Dec) earnings of $0.08 per share, $0.80 better than the single analyst estimate of ($0.72).
  • Net investment income increased 43% to $53 mln.
  • Adjusted Book Value per Share increased $0.61 to $20.05 from September 30, 2020 to December 31, 2020.
16:32  KR Kroger announces the retirement of Mike Donnelly, executive vice president and COO, effective later this spring (32.89 +0.68)

A succession plan will be announced at a later date.
16:32  COO Cooper acquires Safe Obstetric Systems in cash transaction (390.85 +4.72)

  • CooperCompanies announced that CooperSurgical has acquired Safe Obstetric Systems, a privately held manufacturer of the medical device, Fetal Pillow. This FDA approved product is used to elevate the fetal head during a fully dilated cesarean section making the delivery easier and less traumatic for the mother and baby.
  • The acquisition price is approx. 37.5 mln in cash plus a contingent payment up to 10.0 mln based on future revenue growth. Fetal Pillow generated revenues of approx. 3.5 mln in calendar 2020. The acquisition is expected to be roughly neutral to Cooper's non-GAAP EPS in fiscal 2021.
16:29  CORT Corcept Therapeutics announces that Atabak Mokari has joined the company as Chief Financial Officer (25.46 +0.31)

  • Charles Robb, who has been Corcept's CFO since September 2011, has assumed the role of Chief Business Officer.
  • From 2018 to 2020, Atabak Mokari was Chief Financial Officer and Vice President of Corporate Development at Bellicum Pharmaceuticals, Inc.
16:27  CMCO Columbus McKinnon agrees to acquire Dorner Manufacturing for $485 mln in cash (52.26 +1.92)

  • Columbus McKinnon has executed a definitive agreement to acquire Dorner Manufacturing, an automation solutions company providing unique, patented technologies in the design, application, manufacturing and integration of high-precision conveying systems, from global private markets firm EQT.
  • Dorner creates a growth catalyst for Columbus McKinnon and provides diversification into attractive end-markets. A market leader in the nearly $5 bln global specialty conveyor market, Dorner has a proven track record of growth achieving 12% compound annual growth rate over the last five years and outpacing industry growth rates of approx. 6% to 8%.
  • The cash transaction valued at $485 mln is expected to close early in the company's first quarter of fiscal 2022. The purchase price represents 15.5x fiscal 2021 expected Adjusted EBITDA, or approx. 13.5x after year-two synergies.
16:25  MRK Merck announces that the company is voluntarily withdrawing the U.S. indication for KEYTRUDA for the treatment of patients with metastatic small cell lung cancer with disease progression on or after platinum-based chemotherapy and at least one other prior line of therapy (72.38 -0.24)

  • The withdrawal of this indication was done in consultation with the U.S. Food and Drug Administration, and Merck is working to complete this process over the coming weeks. This decision does not affect other indications for KEYTRUDA, Merck's anti-PD-1 therapy.
  • Merck's consultation with the FDA on this withdrawal is part of an industry-wide evaluation of indications based on accelerated approvals that have not yet met their post-marketing requirements. Merck is notifying health care professionals about this withdrawal. Patients being treated with KEYTRUDA for their metastatic SCLC should discuss their care with their health care provider.
16:24  OOMA Ooma beats by $0.02, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY22 EPS below consensus, revs above consensus (16.28 +0.48)

  • Reports Q4 (Jan) earnings of $0.12 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.10; revenues rose 8.9% year/year to $44.26 mln vs the $43.29 mln S&P Capital IQ Consensus.
  • Co issues guidance for Q1, sees EPS of $0.07-0.10, excluding non-recurring items, vs. $0.08 S&P Capital IQ Consensus; sees Q1 revs of $44.0-44.8 mln vs. $43.21 mln S&P Capital IQ Consensus.
  • Co issues mixed guidance for FY22, sees EPS of $0.26-0.34, excluding non-recurring items, vs. $0.39 S&P Capital IQ Consensus; sees FY22 revs of $182.5-185.5 mln vs. $181.47 mln S&P Capital IQ Consensus.
16:21  INO Inovio Pharma beats by $0.08, beats on revs (11.60 +0.50)

  • Reports Q4 (Dec) loss of $0.14 per share, $0.08 better than the S&P Capital IQ Consensus of ($0.22); revenues rose 1907.2% year/year to $5.6 mln vs the $1.22 mln S&P Capital IQ Consensus.
    • As of December 31, 2020, cash and cash equivalents and short-term investments were $411.6 million compared to $89.5 million as of December 31, 2019.
16:21  BYND Beyond Meat announces private offering of $750.0 mln aggregate principal amount of convertible senior notes due 2027 (147.11 +1.63)

Beyond Meat intends to use a portion of the net proceeds from the offering to fund the cost of entering into certain capped call transactions. Beyond Meat intends to use the remainder of the net proceeds for general corporate purposes and working capital.
16:21  MBI MBIA misses by $0.24 (7.63 +0.33)

  • Reports Q4 (Dec) loss of $0.74 per share, excluding non-recurring items, $0.24 worse than the two analyst estimate of ($0.50).
16:19  EPAY Bottomline Tech announces that Bruce Bowden has joined the company as Chief Financial Officer (44.40 -0.48)

  • Following a previously-announced transition, Bowden will assume full responsibilities of the role on March 12.
  • Bowden joins Bottomline from Interactions, an artificial intelligence and the development of intelligent virtual assistants that combine AI and human understanding to improve how businesses and consumers communicate. As its Chief Financial Officer, Bowden increased operational efficiency to accelerate growth and implemented multiple projects to improve top- and bottom-line performance.
16:19  WRAPX Closing Stock Market Summary

The S&P 500 rallied 2.4% on Monday, as investors indiscriminately bought last week's dip amid a host of positive-sounding developments. The Nasdaq Composite (+3.0%) and Russell 2000 (+3.4%) rose at least 3.0%, while the Dow Jones Industrial Average (+2.0%) followed behind with a 2.0% gain.

All 11 S&P 500 sectors contributed to the steady advance, eight of which advanced more than 2.0%. The information technology (+3.2%) and financials (+3.1%) sectors finished as influential leaders, while the real estate sector (+0.2%) underperformed with a modest gain after a strong start.  

From a news perspective, sentiment was boosted after the FDA authorized Johnson & Johnson's (JNJ 159.32, +0.86, +0.5%) COVID-19 vaccine for emergency use, the House passed the $1.9 trillion stimulus bill (handing it over to the Senate), manufacturing PMIs for February out of the U.S., Europe, and Japan exceeded expectations, and Warren Buffett reminded investors to "never bet against America" in his annual shareholder letter. 

Specifying the U.S. data, the ISM Manufacturing Index for February jumped to 60.8% (Briefing.com consensus 58.8%) from 58.7% in January, matching the August 2018 reading as the highest since May 2004. It's also worth noting that February was the ninth straight month of expansionary activity (above 50.0%).

Other supporting factors included a calmer Treasury market, first-of-the-month inflows, and a fear of missing on further gains. The latter was likely exacerbated by the recognition that the S&P 500 bounced so strongly off its 50-day moving average (3813) after closing just above it last Friday, which ended on a disappointing note. 

In corporate news, United Airlines (UAL 53.31, +0.63, +1.2%) reportedly ordered 25 additional 737 MAX planes from Boeing (BA 224.39, +12.38, +5.8%), Exxon Mobil (XOM 56.40, +2.03, +3.7%) named two new board members, and Royal Caribbean (RCL 91.31, -1.96, -2.1%) priced a common stock offering at $91 per share. 

The 2-yr yield decreased two basis points to 0.12%, and the 10-yr yield decreased one basis point to 1.45%. The U.S. Dollar Index increased 0.2% to 91.04. WTI crude futures decreased 1.5%, or $0.91, to $60.54/bbl ahead of an OPEC+ meeting later this week. 

Reviewing Monday's economic data:

  • The ISM Manufacturing Index for February jumped to 60.8% (Briefing.com consensus 58.8%) from 58.7% in January, matching the August 2018 reading as the highest since May 2004. The dividing line between expansion and contraction is 50.0%. February marked the ninth straight month the ISM Manufacturing Index has been above 50.0%.
    • The key takeaway from the report is the recognition that all 18 industries reported paying higher prices for raw materials in February. That contributed to the Prices Index hitting its highest level since May 2008 and should continue to fuel concerns about potential pass-through pressures to end users.
  • Total construction spending increased 1.7% m/m in January (Briefing.com consensus 0.6%) after increasing an upwardly revised 1.1% (from 1.0%) in December. Total private construction spending rose 1.7% m/m and total public construction spending increased 1.7%.
    • The key takeaway from the report is that the strength was driven by gains in both private and public construction spending.
  • The February IHS Markit Manufacturing PMI increased to 58.6 from 58.5 in January.

Looking ahead to Tuesday, investors will receive the ISM Non-Manufacturing Index for February, the ADP Employment Change report for February, the final IHS Markit Services PMI for February, the Fed's Beige Book for March, and the weekly MBA Mortgage Applications Index. 

  • Russell 2000 +15.2% YTD
  • Nasdaq Composite +5.4% YTD
  • S&P 500 +3.9% YTD
  • Dow Jones Industrial Average +3.0% YTD
16:19  OSUR OraSure misses by $0.03, beats on revs; guides Q1 revs above consensus (11.06 +0.46)

  • Reports Q4 (Dec) earnings of $0.03 per share, $0.03 worse than the S&P Capital IQ Consensus of $0.06; revenues rose 26.6% year/year to $62.9 mln vs the $57.3 mln S&P Capital IQ Consensus.
    • Revs increase primarily as a result of strong sales of molecular sample collection kits for COVID-19 testing and increased international sales of the Company's HIV Self-Test partially offset by declines in revenues of other product lines largely due to the impact of COVID-19.
  • Co issues upside guidance for Q1, sees Q1 revs of $55-60 mln vs. $51.23 mln S&P Capital IQ Consensus.
16:18  TMDX TransMedics Group announces scheduling of FDA Advisory Committee meeting for OCS Heart System (36.22 +0.33)

TransMedics Group today announced that the FDA's Office of Health Technology 2 (Cardiovascular Devices) has communicated its intent to hold a Circulatory Systems Device Advisory Panel meeting on April 6 to review TransMedics' premarket approval application for the OCS Heart System.
16:14  JELD JELD-WEN announces secondary public offering of 7.0 mln common shares by selling shareholders (30.60 +0.95)

Selling shareholders include Onex Corporation and certain investment funds managed by Onex Partners Manager LP and its affiliates. The company is not selling any shares in this offering and will not receive any proceeds from the sale of shares by the selling shareholders in this offering.
16:14  MORF Morphic announces a proposed underwritten public offering in which it intends to offer and sell $200.0 mln of shares of its common stock (84.85 +48.69)

Morphic intends to use the net proceeds from the proposed offering, together with our existing cash, cash equivalents and marketable securities, to fund research, clinical and process development and manufacturing of Morphic's product candidates, including MORF-057 and other programs generated from Morphic's MInT Platform, working capital, capital expenditures and other general corporate purposes.
16:13  SILK Silk Road Medical misses by $0.22, misses on revs; guides FY21 revs in-line (55.30 +0.53)

  • Reports Q4 (Dec) loss of $0.49 per share, $0.22 worse than the S&P Capital IQ Consensus of ($0.27); revenues rose 13.4% year/year to $21.1 mln vs the $21.35 mln S&P Capital IQ Consensus.
  • Co issues in-line guidance for FY21, sees FY21 revs of $102-$108 mln vs. $107.30 mln S&P Capital IQ Consensus.
  • Cash, cash equivalents, and short-term investments were $147.5 million as of December 31, 2020.
16:12  COHU Cohu has commenced an underwritten public offering of 4,500,000 shares of its common stock (45.99 +2.54)

Cohu intends to use the anticipated net proceeds of this proposed offering to repay outstanding principal on its term loan facility and for general corporate purposes, including to fund future growth initiatives.
16:12  EQC Equity Commonwealth authorizes repurchase of an additional $150 mln of its outstanding common shares (28.12 -0.09)

 
16:11  RPAY Repay Holdings beats by $0.06, beats on revs; guides FY21 revs in-line (22.63 +0.83)

  • Reports Q4 (Dec) earnings of $0.17 per share, excluding non-recurring items, $0.06 better than the S&P Capital IQ Consensus of $0.11; revenues rose 23.2% year/year to $41.44 mln vs the $38.72 mln S&P Capital IQ Consensus.
    • Card payment volume was $4.0 billion, an increase of 16% over the fourth quarter of 2019.
  • Co issues in-line guidance for FY21, sees FY21 revs of $178-188 mln vs. $185.66 mln S&P Capital IQ Consensus.
    • Also sees Card Payment Volume of $17.5-18.0 bln, gross profit of $134-140 mln, and adj. EBITDA between $75-80 mln.
16:11  SRPT Sarepta Therapeutics misses by $0.38, reports revs in-line (87.03 -0.03)

  • Reports Q4 (Dec) loss of $1.84 per share, $0.38 worse than the S&P Capital IQ Consensus of ($1.46); revenues rose 45.0% year/year to $145.1 mln vs the $145.54 mln S&P Capital IQ Consensus.
  • The company had approximately $1.9 billion in cash, cash equivalents and investments as of December 31, 2020, compared to $1.1 billion as of December 31, 2019.
  • "... We are on track to report data from the 30 mg/kg arm of the MOMENTUM trial in the second quarter. Additionally, later this month at the 2021 MDA Clinical and Scientific Conference, we will present the data for SRP-9001-102 Part 1 and new long-term functional data from study SRP-9003-101, our gene therapy in development for limb-girdle muscular dystrophy type 2E."
16:10  HLIO Helios Technologies beats by $0.19, beats on revs; guides FY21 EPS above consensus, revs above consensus (67.39 +1.99)

  • Reports Q4 (Dec) earnings of $0.60 per share, excluding non-recurring items, $0.19 better than the S&P Capital IQ Consensus of $0.41; revenues rose 20.4% year/year to $151.6 mln vs the $140.52 mln S&P Capital IQ Consensus.
    • Sales reflected improving demand across all markets, in particular agriculture and marine, and the Balboa acquisition, which contributed $26.1 million in the fourth quarter.
  • Co issues upside guidance for FY21, sees EPS of $2.75-3.10, excluding non-recurring items, vs. $2.54 S&P Capital IQ Consensus; sees FY21 revs of $675-705 mln vs. $666.23 mln S&P Capital IQ Consensus.
16:10  HSKA Heska Corp commences public offering of $150 mln of shares of its common stock (201.39 +12.99)

Heska intends to use the net proceeds from the offering for general corporate purposes, including working capital, further development and potential commercialization of current and future product initiatives, collaborations, and capital expenditures.
16:10  ZM Zoom Video beats by $0.43, beats on revs; guides Q1 EPS above consensus, revs above consensus; guides FY22 EPS above consensus, revs above consensus (409.66 +36.05)

  • Reports Q4 (Jan) earnings of $1.22 per share, excluding non-recurring items, $0.43 better than the S&P Capital IQ Consensus of $0.79; revenues rose 368.8% year/year to $882.49 mln vs the $810.97 mln S&P Capital IQ Consensus.
  • Co issues upside guidance for Q1 (Apr), sees EPS of $0.95-0.97, excluding non-recurring items, vs. $0.70 S&P Capital IQ Consensus; sees Q1 revs of $900-905 mln vs. $835.35 mln S&P Capital IQ Consensus.
  • Co issues upside guidance for FY22, sees EPS of $3.59-3.65, excluding non-recurring items, vs. $2.96 S&P Capital IQ Consensus; sees FY22 revs of $3.76-3.78 bln vs. $3.5 bln S&P Capital IQ Consensus.
16:09  FRC First Republic Bank announces public offering of 1.5 mln common shares (172.52 +7.77)

First Republic intends to use proceeds for general corporate purposes, which may include funding loans or purchasing investment securities for its portfolio.
16:09  POOL Pool announces that Mark W. Joslin will retire as Senior Vice President, Chief Financial Officer and Treasurer in 2021 (334.20 -0.57)

The Board of Directors has appointed Melanie Housey Hart to be the company's next CFO. Mrs. Hart currently serves as the company's Vice President, Corporate Controller and Chief Accounting Officer. Mr. Joslin will continue in his role until later this year in order to ensure a successful transition.
16:09  RGNX REGENXBIO misses by $1.13, misses on revs (42.43 +1.52)

  • Reports Q4 (Dec) loss of $1.24 per share, $1.13 worse than the S&P Capital IQ Consensus of ($0.11); revenues rose 81.4% year/year to $21.4 mln vs the $61.57 mln S&P Capital IQ Consensus.
  • Based on its current operating plan, REGENXBIO expects its balance in cash, cash equivalents and marketable securities of $522.5 million as of December 31, 2020, as well as the $230.3 million of gross proceeds received from its public offering of common stock completed in January 2021, to fund its operations, including the completion of its internal manufacturing capabilities and clinical advancement of its product candidates, into the second half of 2023.
16:08  IPAR Inter Parfums beats by $0.03, beats on revs; raise FY21 EPS, revs outlook; reinstates dividend policy (75.22 +2.05)

  • Reports Q4 (Dec) earnings of $0.47 per share, $0.03 better than the S&P Capital IQ Consensus of $0.44; revenues rose 3.5% year/year to $184.04 mln vs the $148 mln S&P Capital IQ Consensus.
  • Co issues upside guidance for FY21, sees EPS of $1.40-1.45 (from $1.20-1.25) vs. $1.31 S&P Capital IQ Consensus; sees FY21 revs of $650-660 mln (from $610-625 mln) vs. $638.78 mln S&P Capital IQ Consensus.
  • IPAR also reinstated its quarterly dividend policy; $0.25 per share quarterly dividend payment is payable on March 31, 2021 to shareholders of record on March 15, 2021.
16:08  SITC SITE Centers commences public offering of 15.0 mln common shares (13.56 +0.22)

SITE Centers intends to use proceeds to redeem the depositary shares representing its outstanding 6.250% Class K Cumulative Redeemable Preferred Shares, without par value, which have an aggregate liquidation preference of $150.0 mln. Any remaining proceeds will be used for general corporate purposes.
16:07  SWCH Switch reports EPS in-line, misses on revs; guides FY21 revs below consensus (17.70 +0.36)

  • Reports Q4 (Dec) earnings of $0.05 per share, in-line with the S&P Capital IQ Consensus of $0.05; revenues rose 6.0% year/year to $127.75 mln vs the $131.36 mln S&P Capital IQ Consensus.
    • Capital expenditures for the fourth quarter totaled $97.9 million, including maintenance capital expenditures of $3.4 million, or 2.7% of total revenue.
  • Co issues downside guidance for FY21, sees FY21 revs of $540-555 mln vs. $572.59 mln S&P Capital IQ Consensus.
    • Adjusted EBITDA of $268.3 million, compared to $231.1 million in 2019, an increase of 16%.
    • Adjusted EBITDA in the range of $278 million to $290 million and Capital expenditures, excluding land acquisitions, in the range of $330 million to $370 million.
    • "Switch expects its 2021 revenue growth to be weighted toward the second half of the year. Switch's 2021 growth outlook includes the delay in construction permits and zoning approvals that occurred during 2020 as a result of COVID-19, pushing out the completion of certain construction projects by three to six months. Importantly, due to many of the recent multi-megawatt installation commencement dates being pushed out by clients due to their COVID-19 travel restrictions, a significant amount of space and power is being reserved for ramps as reflected in Switch's record backlog, which reduces the remaining quantity of sellable capacity in 2021. This is also due to the expected timing of backlog revenue contribution and customer revenue reductions, in addition to the realization of $4.8 million in non-recurring fiber revenue in the first half of 2020."
16:07  CDLX Cardlytics commences public offering of $500 mln of shares of common stock (141.28 +8.85)

 
16:06  HAE Haemonetics announces offering of $425.0 mln aggregate principal amount of Convertible Senior Notes due 2026 (129.40 +2.90)

Haemonetics intends to use a portion of the net proceeds to fund the cost of entering into certain capped call transactions and intends to use the remainder of the net proceeds to reduce the amount of indebtedness pursuant to Haemonetics' existing credit facility, working capital, and other general corporate purposes.
16:06  JBT JBT Corp acquires AutoCoding Systems Ltd for ~$17 mln (150.54 +2.97)

  • AutoCoding extends JBT's capabilities in packaging line equipment and associated devices, including coding and label inspection and verification. The company is headquartered near Runcorn, U.K., with additional operations in the U.S. and Australia, and generates approximately $7 mln in annual revenue.
  • The purchase price was approximately $17 million, before customary post-closing adjustments. After transaction-related costs and purchase price accounting associated with the acquisition, the transaction is expected to "negatively" impact GAAP earnings per share by approximately $0.01 to $0.02 in 2021.
16:06  INSG Inseego misses by $0.07, beats on revs (15.03 +0.44)

  • Reports Q4 (Dec) loss of $0.07 per share, $0.07 worse than the S&P Capital IQ Consensus of ($0.00); revenues rose 64.6% year/year to $86.1 mln vs the $83.8 mln S&P Capital IQ Consensus.
  • Year-end cash balance of $40.0 million in the quarter with zero bank debt.
  • "In 2021, we're focused on bringing new 5G solutions to carrier customers globally, expanding into the enterprise market and driving growth of our cloud SaaS business."
16:05  INO Inovio Pharma announces "positive" results from Phase 3 REVEAL 1 trial (11.60 +0.50)

  • INOVIO announced that it met primary and secondary endpoints among all evaluable subjects for the REVEAL 1 trial. This trial is one of two ongoing Phase 3 trials (REVEAL 1 and REVEAL 2) evaluating the safety, tolerability and efficacy of VGX-3100 to treat HPV-16/18-associated cervical high-grade squamous intraepithelial lesions (HSIL) using the company's proprietary CELLECTRA 5PSP device.
  • The trial protocol-defined modified intention to treat population (N=193) includes all subjects with endpoint data. For the primary endpoint of histopathological regression of HSIL combined with virologic clearance of HPV-16 and/or HPV-18 at week 36, the percentage of responders was 23.7% (31/131) in the treatment group, versus 11.3% (7/62) in the placebo group (p=0.022; 12.4% difference in percentage, 95%CI: 0.4,22.5), thus achieving statistical significance.
    • All secondary efficacy endpoints were achieved. These endpoints were: a) regression of cervical HSIL to normal tissue combined with HPV-16/18 viral clearance, b) regression of cervical HSIL alone, c) regression of cervical HSIL to normal tissue, and d) HPV-16/18 viral clearance alone.
  • The trial protocol-defined intention to treat (ITT) population (N=201) includes all randomized subjects regardless of availability of endpoint data and defines those without endpoint data as non-responders. There were eight such subjects (seven in the treatment group, one in the placebo group). Including subjects with missing endpoint data, the percentage of subjects meeting the primary endpoint was 22.5% (31/138) in the treatment group, vs 11.1% (7/63) in the placebo group (p=0.029; 11.4% difference in percentage, 95%CI: -0.4,21.2), which was not statistically significant.
    • All secondary endpoints were achieved except for regression of cervical HSIL alone (12.8% difference in percentage, 95%CI: -0.6,24.5).
  • There were no treatment-related serious adverse events and most adverse events were self-resolving and were considered to be mild to moderate, consistent with earlier clinical trials.
16:04  MELI MercadoLibre misses by $1.16, beats on revs (1713.28 +75.17)

  • Reports Q4 (Dec) loss of $1.02 per share, $1.16 worse than the S&P Capital IQ Consensus of $0.14; revenues rose 96.9% year/year to $1.33 bln vs the $1.23 bln S&P Capital IQ Consensus.
    • Unique active users grew by 71.3% year-over-year, reaching 74.0 million.
    • Gross merchandise volume ("GMV") grew to $6.6 billion, representing an increase of 69.6% in USD and 109.7% on an FX neutral basis.
    • Total operating expenses were $514.2 million, an increase of 36% year-over-year in USD. As a percentage of revenues, operating expenses were 38.7%, compared to 55.9% during the fourth quarter of 2019.
    • "We incurred $31.6 million in financial expenses this quarter, mostly attributable to financial loans entered into 2020, mainly in Brazil and Argentina. We also incurred interest expenses from our trusts related to the factoring of our credit card receivables in Argentina."
16:02  FGEN FibroGen misses by $0.45, misses on revs (50.32 +0.29)

  • Reports Q4 (Dec) loss of $0.64 per share, $0.45 worse than the S&P Capital IQ Consensus of ($0.19); revenues rose 712.5% year/year to $65 mln vs the $100.82 mln S&P Capital IQ Consensus.

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