Tag: stock market

Shares of Evoke Pharma Inc. soared 38% in premarket trade, after the Food and Drug Administration’s positive assessment of the company’s gastrointestinal disease treatment, Gimoti. The company said the FDA exempted the late-stage product from a Human Factors Validation study that is required prior to the submission of a new drug application. The FDA determined that Evoke had adequately considered the risks associated with the proposed Gimoti nasal spray, and therefore HF Validation as not needed at this time. Evoke said the FDA’s determination helps reduce potential risks and saves additional resources for NDA preparation. “We intend to pursue an NDA submission by the end of the year and plan to update our investors in the near term with more specific timelines on these efforts,” said Chief Executive Dave Gonyer. The stock had run up 60% over the past three months through Tuesday, but was still down 7.5% over the past 12 months, while the S&P 500 has climbed 25% over the past year.

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Shares of Groupon Inc. soared 14% Wednesday after the company reported stronger-than-expected quarterly earnings. The daily-deals site reported a loss of $50.2 million, or 9 cents a share, compared with a loss of $32.6 million, or 8 cents a share, in the year-earlier period. Excluding one-time items, Groupon reported non-GAAP earnings of 7 cents a share, topping the 3-cent profit analysts on average had been expecting, according to FactSet. Revenue rose to $934.9 million from $917.2 million in the year-earlier period, beating the Street’s view of $913 million. Shares of Groupon rocketed 14.3% higher to $4.32 in premarket trade. As of Tuesday’s close, they had been down 6% in the past three months, underperforming the S&P 500 , up more than 7%.

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Shares of Groupon Inc. soared 14% Wednesday after the company reported stronger-than-expected quarterly earnings. The daily-deals site reported a loss of $50.2 million, or 9 cents a share, compared with a loss of $32.6 million, or 8 cents a share, in the year-earlier period. Excluding one-time items, Groupon reported non-GAAP earnings of 7 cents a share, topping the 3-cent profit analysts on average had been expecting, according to FactSet. Revenue rose to $934.9 million from $917.2 million in the year-earlier period, beating the Street’s view of $913 million. Shares of Groupon rocketed 14.3% higher to $4.32 in premarket trade. As of Tuesday’s close, they had been down 6% in the past three months, underperforming the S&P 500 , up more than 7%.

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Shares of SodaStream International Ltd. soared 6.8% in premarket trade Wednesday, after the seller of sparkling water maker beat fourth-quarter profit and sales expectation, boosted by a big jump in sales of sparkling water maker starter kits. Earnings rose nearly six fold to $15.6 million, or 71 cents a share, from $2.8 million, or 13 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 36 cents. Revenue increased 17% to $131.8 million from $112.9 million, beating expectations of $125.5 million, amid 18% growth in Western Europe and 20% growth in the Americas. Sparkling water maker starter kit sales surged 37% to $56.7 million, while consumables sales increased 5% to $74.0 million. “Consumers are responding positively to our messaging around health & wellness, convenience, and the environment and are using SodaStream to produce sparkling water in record numbers,” said Chief Executive Daniel Birnbaum. The stock has run up 37% over the past three months, and nearly quadrupled over the past 12 months, while the S&P 500 has gained 25% over the past year.

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Angie’s List, a provider of reviews, offers and data in more than 700 categories of home-improvement and repairs, said Wednesday it had net income of 48.9 million, or 15 cents a share, in the fourth quarter , down from $14.2 million, or 24 cents a share, in the year-earlier period. Revenue fell to $76.7 million from $86.3 million. the FactSet consensus was for EPS of 8 cents and revenue of $78.0 million. The company had gross member additions of 0.8 million in the quarter and 2.9 million in the year, bringing its total members to 5.1 million by year end. “In 2017, we have three priorities: 1) Build products that increase member engagement, 2) Strengthen the value proposition to our service providers, and 3) Continue to improve our cost structure,” Chief Executive Scott Durchschlag said in a statement. Shares rose 3% in premarket trade, but are down about 34% in the last 12 months, while the S&P 500 has gained 25%.

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Integra LifeSciences Holdings Corp. said Wednesday that it was paying $1.05 billion in cash to buy Johnson & Johnson’s Codman Neurosurgery business. Codman’s devices are focused on hydrocephalus, neurocritical care and operative neurosurgery. Integra expects the deal to add 22 cents to adjusted earnings per share in the first year after closing. Integra said it will finance the purchase with cash on hand, use of its revolving credit facility and new senior secured term loan facility. Shares of Integra and J&J were still inactive in premarket trade. Over teh past three months, Integra’s stock has climbed 8.2%, while J&J’s has been little changed and the S&P 500 has gained 7.2%.

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Fossil Group Inc. shares were downgraded to underperform from market perform at Wells Fargo on concerns about the company’s wearables business going forward. Fossil shares are down 17.1% in Wednesday premarket trading after reporting disappointing earnings results. Among the details analysts highlight are the fourth-quarter sales miss “despite a much-hyped push into wearables (that was three years in the making),” management’s need to reinvest in wearable pricing in order to drive volume, and a plan to relaunch wearables in the third quarter with lower pricing, which will drive down profitability. Analysts anticipate that pricing will be 10% lower. Fossil shares are down 31.4% for the past year while the S&P 500 index is up 25.4% for the same period.

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Billionaire hedge-fund manager David Einhorn’s Greenlight Capital bought U.S. -listed shares of Syngenta , as well as shares of Voya Financial , Mylan Inc. , and Rite Aid Corp. in the fourth quarter, while unloading a stake in fashion company Michael Kors Holdings , according to a Tuesday regulatory filing. Among the fund’s fourth-quarter moves, Greenlight held a new stake of 925,000 shares in Swiss-based seed and agricultural chemical company Syngenta as of Dec. 31, according to filings-tracker Whalewisdom.com. Greenlight also upped its stake in Voya by 14%, or 752,552 shares, to nearly 5.921 million shares, and boosted its take in Rite Aid by more than 7 million shares, or 52%, to 20.463 million shares. The fund dumped its stake 3.07 million share stake in Michael Kors. Greenlight also purchased 25 million General Motors call options, which provide the right but not the obligation to purchase shares at a set price. Greenlight also sold 3.832 million GM shares, reducing its stake by 22%. The fund also added 613,300 shares of Apple Inc. , raising his stake by 11% to more than 5.8 million shares. Large investors are required to disclose their long stock-market holdings as of the end of each quarter.

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Shares of Twitter Inc. edged higher in the extended session Tuesday after Chief Executive Jack Dorsey bought a large chunk of shares. Twitter shares advanced 1.4% to $16.74 after hours, following a gain of 4.5% during the regular session, which put shares at a 1.4% gain year to date. In a filing with the Securities and Exchange Commission late Tuesday, Dorsey disclosed he had purchased 425,998 shares of Twitter at prices ranging from $15.84 to $16.60 a share beginning on Monday. Prior to the filing, Dorsey owned just over 15 million shares, or a 2.1% stake of outstanding shares, according to FactSet data.

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Shares of Fortress Investment Group LLC rallied in the extended session Tuesday after SoftBank Group Corp. said it was acquiring the investment firm for $3.3 billion. Fortress shares jumped 23% to $7.62 after hours. Under the deal, Softbank said each Fortress shareholder will get $8.08 a share. Co-Chairmen Pete Briger and Wes Edens along with Chief Executive Randy Nardone agreed to remain at Fortress, and invest 50% of their after-tax proceeds from the transaction in Fortress-managed funds, SoftBank said. Softbank expects the deal to close in the second half of 2017.

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