Economy

Rambus Meets non-GAAP EPS

Rambus Meets non-GAAP EPS

Rambus (RMBS) said Monday that under ASC 606, it recorded a first-quarter non-GAAP net loss of $11.3 million, or a loss of $0.10 per share. However, under the previous ASC 605 standard, the company would have posted a non-GAAP net income of $24.0 million, or $0.21 per share, which would […]

TESSCO Technologies Drops 2.5% After Q4 EPS Misses Estimates

TESSCO Technologies Drops 2.5% After Q4 EPS Misses Estimates

TESSCO Technologies (TESS) slipped 2.5% after the company said Q4 ended April 1 rose 21% to $148.9 million from the year-ago period and it earned $0.07 per share, up from a dime loss last year. The CapIQ mean was for a normalized EPS of $0.35 and GAAP EPS of $0.20. […]

Plantronics Tops Street View, Fiscal Q4 Revenue Up 3.4% YOY

Plantronics Tops Street View, Fiscal Q4 Revenue Up 3.4% YOY

Plantronics (PLT) on Tuesday reported fiscal Q4 revenue of $216.1 million, up 3.4% from $209.0 million in the year-ago quarter and above its guidance range of $205 million to $215 million. Analysts polled by Capital IQ were expecting revenue of $208.49 million, Net income for the quarter ended March 31 […]

Cellect Biotechnology Completes Proof-of-Concept Testing in Stem Cells Production

Cellect Biotechnology Completes Proof-of-Concept Testing in Stem Cells Production

Cellect Biotechnology (APOP) said Monday it has successfully completed the proof of concept testing of its first in type new product prototype, ApoTainer using Cellect’s FasL-coated magnetic beads for efficacy and scalability of stem cell based products’ manufacturing. ApoTainer-based blood stem cell transplantation is being designed to result in improved […]

Rolls-Royce to Divest German Unit for $859.8 M to US Aerospace Supplier Woodward

Rolls-Royce to Divest German Unit for $859.8 M to US Aerospace Supplier Woodward

British engine manufacturer Rolls-Royce (RR.L) has agreed to sell its Stuttgart, Germany based fuel-injection technology business L’Orange to Woodward (WWD), a service provider to the aerospace and industrial markets, for 700 million euros ($859.8 million). The iconic UK company said in a statement that Rolls-Royce Power Systems, the parent company […]

AveXis Price Target Raised to $218/Share From $140 by Chardan Capital Markets

AveXis Price Target Raised to $218/Share From $140 by Chardan Capital Markets

AveXis (AVXS) received an adjusted price target at Chardan Capital Markets on Monday to $218 per share from $140, after the biotechnology company’s official announcement that it will be acquired by pharmaceutical firm Novartis for $8.7 billion or $218 per share. The deal is expected to complete by mid-2018. The […]

Magellan Midstream Partners Upgraded by RBC to Outperform From Sector Perform

Magellan Midstream Partners Upgraded by RBC to Outperform From Sector Perform

Magellan Midstream Partners (MMP) received an investment-rating upgrade Monday to outperform from sector perform from RBC Capital Markets, which said it believes a recent selloff in the units of the petroleum-products pipeline company was overdone. RBC kept its price target on the units at $79 per unit. The units closed […]

The9 Receives Notice of Deficiency from Nasdaq

The9 Receives Notice of Deficiency from Nasdaq

The9 (NCTY) said early Monday it received a notification letter from the Nasdaq Stock Market. dated April 4 which indicated it no longer meets the continued listing requirement of minimum market value of listed securities for the exchange. The market value of the company’s securities listed on Nasdaq or the […]

Novartis Buys Gene Therapy Specialist AveXis for $8.7 Bn

Novartis Buys Gene Therapy Specialist AveXis for $8.7 Bn

Swiss pharmaceutical company Novartis (NVS) said on Monday that it plans to acquire AveXis (AVXS), a US gene therapy specialist with a spinal muscular atrophy treatment which is seen to have “multi-billion dollar peak sales potential”. Basel-headquartered Novartis has agreed to take over AveXis for $218 per share in a […]

Kinder Morgan Halts Spending on Trans Mountain Expansion Project

Kinder Morgan Halts Spending on Trans Mountain Expansion Project

Kinder Morgan (KMI) said Sunday that it is suspending all non-essential activities and related spending on its Trans Mountain Expansion project in Canada. The energy infrastructure company said it will not commit further resources under the current circumstances of the project, including the continued opposition to the project by the […]