Nexstar To Acquire 75% Ownership Interest In The CW Network

Nexstar Media Group, Inc. (NXST) has agreed to acquire a 75 percent ownership interest in The CW Network, LLC. Warner Bros. Discovery (WBD) and Paramount Global (PARA,PARAA), the current co-owners of The CW, will each retain a 12.5 percent ownership interest in The CW and will continue to produce original, scripted content for the Network. Mark Pedowitz will continue to serve as The CW’s Chairman and CEO.

George Cheeks, President & CEO of CBS, said: “Together, with our partners at Warner Bros. and The CW, we have created a welcome home for content that has resonated with viewers on the network and on platforms around the world. This new ownership structure enables us to partner with Nexstar and Warner Bros. Discovery on the next chapter of
The CW while re-deploying capital to other content platforms at Paramount.”

IDEAYA Biosciences Falls On Wider Loss In Q2

Shares of IDEAYA Biosciences, Inc. (IDYA) are losing more than 35 percent on Monday morning trade after reporting loss for the second quarter, wider than the prior year.

The company reported quarterly loss of $22.06 million, wider than $16.11 million in the prior year. Revenues for the quarter was $5.85 million, lower than $11.36 million last year.

Currently, shares are at $10.70, down 31.63 percent from the previous close of $15.65 on a volume of 324,889. The shares have traded in a range of $8.14-$28.00 on average volume of 265,469.

TherapeuticsMD Stock Jumps 22% On Quarterly Results

Shares of TherapeuticsMD, Inc. (TXMD) are currently gaining over 22% after the healthcare company reported its second-quarter results.

TXMD is currently trading at $11.27, up $2.06 or 22.38%, on the Nasdaq. The stock opened its trading at $10.50 after closing Friday’s trading at $9.21. The stock has traded between $1.99 and $43.50 in the past 52-week period.

TherapeuticsMD’s second-quarter profit was $112.28 million or $12.39 per share, compared to net loss of $42.65 million or $5.41 per share a year ago. Revenues grew to $28.56 million from last year’s $23.00 million.

Hugh O’Dowd, CEO of TherapeuticsMD, said, “”We saw solid revenue growth during the quarter, with an increase of 24% over the prior year period, while also experiencing a 21% decrease in operating expenses. The U.S. Food and Drug Administration’s recent approval of our supplemental new drug application for ANNOVERA has significantly enhanced our ability to meet demand for the product.”

Weber Gains On Reduced Loss In Q3

Weber Inc. (WEBR) shares are gaining more than 10 percent on Monday morning trade after the company reported third-quarter loss, lower than the prior-year loss.

The barbecue brand’s quarterly loss was $7.49 million or $0.41 per share, compared to $17.83 million last year.

Currently, shares are at $7.63, up 10.26 percent from the previous close of $6.92 on a volume of 478,679.

New York Manufacturing Index Unexpectedly Indicates Contraction In August

New York manufacturing activity has unexpectedly seen a substantial contraction in the month of August, according to a report released by the Federal Reserve Bank of New York on Monday.

The New York Fed said its general business conditions index plummeted to a negative 31.3 in August from a positive 11.1 in July, with a negative reading indicating a contraction in regional manufacturing activity.

Economists had expected the index to show a much more modest decrease to a positive 8.5.

The unexpected contraction in regional manufacturing activity came as the new orders plunged to a negative 29.6 in August from a positive 6.2 in July, while the shipments index dove to a negative 24.1 from a positive 25.3.

The report showed the number of employees index also fell to 7.4 in August from 18.0 in July, although a positive reading still indicates job growth.

The prices paid index also dropped to 55.5 in August from 64.3 in July, while the prices received index inched up to 32.7 from 31.3.

Looking ahead, the New York Fed said firms did not expect much improvement in business conditions over the next six months, although the index for future business conditions rose to a positive 2.1 in August from a negative 6.2 in July.

Turquoise Hill Resources Down After Rejecting $2.7 Bln Buyout Offer From Rio Tinto

Shares of Turquoise Hill Resources Ltd. (TRQ) are declining more than 11 percent on Monday morning trade after rejecting a buyout offer from Rio Tinto worth $2.7 billion. Rio owns 51 percent of Turquoise Hill.

The copper mine giant said Rio’s offer does not fairly reflect the fundamental and long-term strategic value of the company.

Currently, shares are at $23.12, down 11.92 percent from the previous close of $26.25 on a volume of 3,786,755.

Anghami Preliminary H1 Revenue Up 29%

Anghami Inc. (ANGH) reported that its preliminary first half total revenue grew 29% year-over-year to $21.1 million. Excluding the foreign currency effects and applying constant exchange rates year-over-year, revenue would have increased by more than 50%, the company noted.

The number of monthly paying subscribers increased 41% year-over-year. The growth was
primarily due to higher conversion rates of advertising-supported users to paying subscribers, as well as a higher number of active users, which increased 46% year-over-year to 19.5 million users, resulting in increased advertising and subscription revenues.

Eddy Maroun, Co-founder, and CEO of Anghami, said, “The first half results should lead to a record year for Anghami in 2022.”

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Shares of Anghami were up 8% in pre-market trade on Monday.