Tuesday, 4 Oct 2022

Artivion Falls After Stopping Proact Xa Clinical Trial

TUESDAY MORNING Q4 Loss Widens

TUESDAY MORNING Corporation (TUEM) released Loss for its fourth quarter that increased from the same period last year

The company’s earnings came in at -$28.143 million, or -$0.33 per share. This compares with -$18.862 million, or -$0.29 per share, in last year’s fourth quarter.

The company’s revenue for the quarter fell 8.7% to $161.934 million from $177.274 million last year.

For the first quarter, the firm expects comparable store sales to fall 10-12 percent when compared with the first quarter of 2022. Adjusted EBITDA loss is expected to be in the range of $21 million – $24 million.

For the fiscal 2023, Tuesday Morning projects comparable store sales to be flat to negative 3 percent when compared with 2022. Excluding items, EBITDA loss is projected to be in the range of $18 million – $23 million.

TUESDAY MORNING CORP/DE earnings at a glance (GAAP) :

-Earnings (Q4): -$28.143 Mln. vs. -$18.862 Mln. last year.
-EPS (Q4): -$0.33 vs. -$0.29 last year.
-Revenue (Q4): $161.934 M vs. $177.274 M last year.

US, Japan, S Korea Warn Of ‘strong And Resolute Response’ To N Korea Nuclear Test

Japan, the United States and South Korea have warned that if North Korea conducts any nuclear test, it would be met with a strong and resolute response from the international community.

In a meeting on the margins of the United Nations General Assembly in New York City, the foreign ministers of the three allied nations expressed serious concern about the reclusive Communist country’s adoption of a new law on nuclear policy, declaring it to be a nuclear weapons state. The legislation also authorizes the launch of pre-emptive nuclear strikes.

U.S. Secretary of State Antony Blinken, Japanese Foreign Minister Hayashi Yoshimasa and South Korean Minister of Foreign Affairs Park Jin underscored the importance of working together to address North Korea’s destabilizing behavior and advance its shared goal of achieving the complete denuclearization of the Korean Peninsula.

They condemned the North’s numerous ballistic missile launches this year, each of which violated multiple UN Security Council resolutions and posed a serious threat to the region.

Secretary Blinken reaffirmed the U.S. steadfast commitments to the defense of South Korea and Japan.

The Foreign Ministers urged Pyongyang to return to the negotiations table.

They also reaffirmed the importance of achieving an immediate resolution of the abductions issue.

Japan To Ease Restrictions On Foreign Tourists’ Entry From Oct. 11

Japan decided to ease restrictions imposed on foreign tourists’ entry into the country more than two years ago due to the spread of Covid.

On the same day, Japan will remove the current daily cap of 50,000 foreign visitors allowed to visit the country, aimed to revive its ailing economy.

Speaking on the sidelines of the U.N. General Assembly, Japanese Prime Minister Fumio Kishida said individual tourists will be able to visit the country without a visa, and will no longer need to go through a travel agency, from October 11.

“Japan will relax border control measures to be on par with the US,” Kishida told reporters.

In order to boost the influx of foreign tourists, Japan had allowed visitors from 68 countries and regions, including the United States, to stay in the country for not more than 90 days without a visa.

An average of more than 2 million tourists visited Japan per month during pre-pandemic years, but the numbers fell sharply after the lockdowns were lifted, the Japan National Tourism Organization’s data shows.

Jungheinrich Updates FY Outlook

Jungheinrich said that it now expects group revenue for fiscal year 2022 to be between 4.6 billion euros and 4.8 billion euros compared to the prior outlook of slightly above the previous year’s 4.2 billion euros.

The company now expects incoming orders to be between 4.6 billion euros and 4.9 billion euros for 2022. Previously it was expected slightly below the previous year’s 4.9 billion euros.

The company now projects annual earnings before interest and income taxes (EBIT) will come to between 340 million euros and 380 million euros compared to the prior outlook of significantly lower than the previous year’s 360 million euros.

MV Oil Trust Stock Slides 12%

MV Oil Trust (MVO) shares are declining more than 12 percent on Friday morning trade in tandem with the general market trend on the day.

Currently, shares are at $11.86, down 12.73 percent from the previous close of $13.59 on a volume of 213,137.

HHG Capital Climbs On Amendment To Extend Business Combination With American Stock Transfer Co.

HHG Capital Corp. (HHGC) shares are gaining more than 8 percent on Friday morning trade after the company revealed an amendment to the investment management trust agreement with American Stock Transfer & Trust Company.

Pursuant to the amendment, the Company has the right to extend the time to complete a business combination by one month to September 23, 2023. The amendment was approved by its shareholders on September 19.

Currently, shares are at $11.07, up 8.04 percent from the previous close of $10.25 on a volume of 1,361,074.

Artivion Falls After Stopping Proact Xa Clinical Trial

Shares of Artivion, Inc. (AORT) are tumbling more than 19 percent on Friday morning trade after the cardiac and vascular surgery company announced that it has stopped the PROACT Xa clinical trial based on the recommendation of the independent Data and Safety Monitoring Board of the trial due to lack of evidence. The study was evaluating the use of Apixaban in patients treated with mechanical aortic valves.

Currently, shares are at $14.92, down 19 percent from the previous close of $18.50 on a volume of 392,788.

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