Thursday, 1 Jun 2023

Braze Climbs 17% On Narrower Q4 Net Loss, Acquisition Of North Star

Chicago Business Barometer Unexpectedly Inches Higher In March

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity unexpectedly increased in the month of March.

The report said the Chicago business barometer inched up to 43.8 in March from 43.6 in February, although a reading below 50 still indicates a contraction. Economists had expected the index to edge down to 43.4.

The unexpected uptick by the headline index partly reflected a rebound by the production index, which rose by 2.6 points in March after tumbling by 10.2 points in February.

MNI Indicators said the employment index also increased by 5.4 points, moving to similar levels seen in both December and January.

The report also said the inventories index jumped by 13.6 points in March, re-entering expansive territory and returning to November levels.

Meanwhile, the new orders edged down by 1.0 points, with some firms seeing a small pick-up whilst others noted a slowdown due to clients’ inflated orders over earlier months.

The supplier deliveries index slumped by 9.3 points during the month, falling below 50 for the first time since June 2016, as some respondents found substantial improvements in deliveries as supply chain pressures ease further.

On the inflation front, the prices paid index edged up by 0.3 points after a substantial February deceleration, with just below half of respondents continuing to see prices increase in March.

Chicken Soup for the Soul Entertainment, Inc. Q4 Loss increases, misses estimates

Chicken Soup for the Soul Entertainment, Inc. (CSSE) reported Loss for its fourth quarter that increased from the same period last year and missed the Street estimates.

The company’s earnings totaled -$56.319 million, or -$2.70 per share. This compares with -$22.405 million, or -$1.38 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn -$1.17 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 215.8% to $113.574 million from $35.966 million last year.

Chicken Soup for the Soul Entertainment, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): -$56.319 Mln. vs. -$22.405 Mln. last year.
-EPS (Q4): -$2.70 vs. -$1.38 last year.
-Analyst Estimate: -$1.17
-Revenue (Q4): $113.574 Mln vs. $35.966 Mln last year.

SYLA Technologies Prices IPO Of 1.88 Mln ADSs At US$8.00/ADS

SYLA Technologies Co. Ltd., operator of the largest membership real estate crowd-funding platform in Japan, Rimawari-kun, said that it has priced its initial public offering of about 1.88 million American Depositary Shares or “ADSs” at a price of US$8.00 per ADS.

Each 100 ADSs represent one common share of SYLA. The ADSs are expected to begin trading on the Nasdaq Capital Market on March 31, 2023, under the symbol “SYT.”

The company expects gross proceeds before deducting underwriting discounts and commissions and other offering expenses to be US$15 million. The closing of the offering is expected to occur on April 4, 2023.

SYLA is scheduled to ring the Nasdaq opening bell on April 10, 2023 after the date of the official trading of its ADSs.

In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 281,250 ADSs at the public offering price per ADS, less underwriting discounts and commissions to cover over-allotments, if any.

The company noted that it plans to use the net proceeds from this offering for working capital and general corporate purposes.

GigaMedia Ltd. Q4 Earnings Summary

Below are the earnings highlights for GigaMedia Ltd. (GIGM):

Earnings: $0.040 million in Q4 vs. -$0.986 million in the same period last year.
EPS: $0.00 in Q4 vs. -$0.09 in the same period last year.
Revenue: $1.102 million in Q4 vs. $1.257 million in the same period last year.

Kloeckner Board Recommends Not To Accept Public Takeover Offer By SWOCTEM

The Management Board and the Supervisory Board of Kloeckner & Co SE (KCO) recommended shareholders not to accept the voluntary public takeover offer by SWOCTEM GmbH. The Management Board and the Supervisory Board have independently concluded that the amount of the offer price of 9.75 euros in cash per Klöckner & Co share is not adequate.

SWOCTEM GmbH has stated that it intends to increase its existing shareholding in Kloeckner & Co SE to above 30% to obtain more flexibility for future share purchases.

Denver police seek help in homicide of Patrick Lane

Denver police on Friday appealed for public help solving a homicide after they found a 54-year-old man dead in his apartment.

Police found the body of Patrick Lane in his apartment at 3440 Park Avenue West on Tuesday, according to a Denver Police Department post on Twitter.

The police announced they are seeking any information about this homicide or about Lane, directing calls to an anonymous tip line at 720-913-7867.


Braze Climbs 17% On Narrower Q4 Net Loss, Acquisition Of North Star

Braze, Inc. (BRZE) shares are gaining more than 17 percent on Friday morning trade after the company announced a narrower net loss on a surge in revenue for the fourth quarter. Further, the company announced a definitive agreement to acquire North Star, its exclusive reseller in Australia and New Zealand.

Fourth quarter net loss was $33.45, narrower than net loss of $42.94 million in the prior year.

Revenue for the quarter grew 40 percent to $98.67 million from $70.43 million a year ago.

The North Star transaction is expected to provide Braze with a direct market presence in the region, along with local market expertise from the North Star team.

Currently, shares are at $37.17, up 17.63 percent from the previous close of $31.60 on a volume of 315,941.

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