Stock Alert: Weibo Shares Down Despite Better-Than-Expected Q1 Results

Shares of Weibo Corp. (WB) are currently trading at $46.67, down $1.24 or 2.60%, with trading volume of over 649K versus an average volume of 1.52 million shares. The stock has been trading in the range of $28.93 – $63.55 for the past one year.

The company reported Q1 GAAP net income attributable to Weibo’s shareholders of $49.8 million or $0.22 per share compared to $52.1 million or $0.23 per share a year ago. On a non-GAAP basis, net income increased to $130.7 million or $0.57 per share from $67.4 million or $0.30 per share last year.

Net revenues for the quarter amounted to $458.9 million, 42% higher than the previous year’s revenue of $323.4 million. On average, 9 analysts polled by Thomson Reuters expected earnings of $0.47 per share on revenue of $429.84 million for the quarter. Analysts’ estimate typically exclude certain special items.

Looking ahead, the company expects second-quarter net revenues to increase by 25% – 30% year-over-year on a constant currency basis. Wall Street analysts estimate sales growth of 24.10% for the second quarter.

Etherium Price Crosses $3000 For The First Time

Etherium, the second-largest cryptocurrency by market capitalization, reached an all time record price breaking the $3000 barrier Monday.

The token, transacted on the ethereum blockchain, rose as high as $3,188 in the UK morning trading session.

Ether is trading at $3120 while writing this report, with a gain of 6.63 percent over the last 24 hours.

Its current market capitalization is $360 billion and global trade volume is $35 billion, according to Coinmarketcap.

Ethereum started an upward trend last week boosted by a report that the European Investment Bank (EIB) plans to issue a two-year 100-million-euro digital bond on the Ethereum blockchain network.

The dream run started on April 26, and the second most popular cryptocurrency added its weight by around $1000, or nearly 50 percent.

A section of investors tout Ether as one of the key players in a decentralized financial system in the future.

Meanwhile, the most popular virtual currency Bitcoin hovered around $58,000 on Monday, showing signs of approaching the next level of resistance of $60,000.

The leading cryptocurrency is trading at $57782 as of this writing, with a gain of 1.34 percent over the last 24 hours. BTC improved by more than $4000 within a week.

Its current market capitalization is $1.079 trillion, according to Coinmarketcap.

PolarityTE : Diabetic Foot Ulcer Trial Meets Primary And Secondary Endpoint

PolarityTE Inc. (PTE) said that a multi-center randomized controlled trial evaluating treatment of Diabetic Foot Ulcers with SkinTE plus standard of care compared to standard of care alone met the primary endpoint of wound closure at 12 weeks and secondary endpoint of Percent Area Reduction or PAR at 12 weeks.

The company said 100 patients were evaluated across 13 sites with 50 patients receiving SkinTE plus standard of care and 50 patients receiving standard of care alone.

The company noted that 70% of patients receiving SkinTE plus standard of care had wound closure at 12 weeks versus 34% of patients receiving standard of care alone.

PolarityTE said percent area reduction at 12 weeks was significantly greater for the SkinTE plus standard of care treatment group (84.4%) vs standard of care alone (53.5%).

U.S. Construction Spending Inches Up Much Less Than Expected In March

With a jump in spending on residential construction partly offset by decreases in spending on non-residential construction and public construction, the Commerce Department released a report on Monday showing U.S. construction spending rose by much less than expected in the month of March.

The report said construction spending inched up by 0.2 percent to an annual rate of $1.513 trillion in March after falling by 0.6 percent to a revised rate of $1.510 trillion in February.

Economists had expected construction spending to spike by 2.0 percent compared to the 0.8 percent drop originally reported for the previous month.

The uptick in construction spending came as spending on residential construction surged up by 1.7 percent to an annual rate of $725.2 billion.

On the other hand, the report showed spending on non-residential construction slid by 0.9 percent to an annual rate of $444.0 billion.

Spending on public construction also tumbled by 1.5 percent to an annual rate of $343.9 billion, reflecting steep drops in spending on both educational and highway construction.

Compared to the same month a year ago, total construction spending in March was up by 5.3 percent.

The Best Camping in the Overberg, Cederberg and Garden Route

Sunset on the Langeberg is one of the most beautiful sights in South Africa, and Oewerzicht is a wonderful place to enjoy it. Apart from the stunning scenery, there’s also fishing and canoeing in the Riviersonderend River which gurgles right past the campground, plus hiking and mountain biking through the surrounding farmland. Beautiful, green lawns flow into the Breede River at Eureka Farm’s River Goose Campsite. Spend your day’s canoeing or tubing in the warm river water, or pop down the road to one of the many wine farms for a tasting.

Allergan Aesthetics To Buy Soliton For $22.60/Share In Cash – Quick Facts

Allergan Aesthetics, an AbbVie company (ABBV) and Soliton (SOLY) announced Monday a definitive agreement under which Allergan Aesthetics will acquire Soliton and Resonic, its Rapid Acoustic Pulse device which recently received U.S. Food and Drug Administration (FDA) 510(k) clearance and is a non-invasive treatment for the short-term improvement in the appearance of cellulite.

Resonic has also received FDA 510(k) clearance for use in conjunction with laser for tattoo removal and has demonstrated clinical results in fibrotic scars.

The acquisition of Soliton expands and complements Allergan Aesthetics’ Body Contouring treatment portfolio which includes CoolSculpting Elite.

The novel platform technology uses non-invasive rapid, high-frequency sound waves to disrupt targeted cellular structures and connective tissue, physically impacting the fibrous septae beneath the skin that contribute to the dimpled appearance of cellulite.

Under the terms of the transaction, Allergan Aesthetics will pay $22.60 per share in cash for each outstanding share of Soliton. Soliton’s enterprise value for the transaction is approximately $550 million and was approved by the Boards of Directors of both companies.

The transaction is subject to customary closing conditions, including clearance by the U.S. antitrust authorities under the Hart-Scott-Rodino Act and approval of Soliton’s shareholders.