European Economics Preview: Germany Foreign Trade, Unemployment Data Due
Omeros Receives FDA Decision On Narsoplimab
Omeros Corp. (OMER) Tuesday said it received a decision from FDA on a formal dispute resolution request for Narsoplimab.
The decision proposes the resubmission of the narsoplimab biologics license application or BLA including a comparison of the existing response data from the completed pivotal trial. The specific approach to resubmission and its details would be determined through discussion with the review division, the company noted.
Omeros requested FDA’s review division in June for the issuance of a complete response letter concerning the biologics license application for narsoplimab in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy.
Kohl's CEO Michelle Gass to step down
US retailers to see ‘very dismal’ 2023, small businesses ‘crushed’: Salvatore Stile
Alba Wheels Up International founder Salvatore Stile says importers and retailers are predicting a supply chain ‘decline coming about.’
Kohl’s announced Tuesday that CEO Michelle Gass will step down next month.
Effective Dec. 2, Tom Kingsbury will serve as interim CEO, replacing Gass who has "accepted another opportunity," the company said.
Gass joined the retailer in 2013.
Kohl's said Kingsbury will lead the company until it finds a permanent successor for Gass.
"Tom is highly regarded and perfectly equipped to take the role of Interim CEO," Board Chair Peter Boneparth said in a statement.
This is a developing story. Check back for updates.
GrowGeneration Soars 36% On Higher FY22 Outlook
Shares of organic garden centers chain GrowGeneration Corp. (GRWG) are climbing 36 percent on Tuesday’s trading after the company lifted its revenue outlook for fiscal 2022, above estimates.
The company now expects 2022 revenue to be between $270 and $280 million, which is higher than the earlier projection of between $250 million and $275 million. On average, 8 analysts projected by Thomson Reuters expect the company to post revenue of $260.8 million for the year ahead.
Adjusted EBITDA guidance is updated to be between a loss of $10 million to $13 million, an improvement from the previous range of a loss of $12 million to $15 million.
Currently at $4.5200, the stock has traded between $2.9200 and $25.8000 during the past 52 weeks.
DigitalOcean Slides 10% As Q4 Outlook Below Estimates
DigitalOcean Holdings, Inc. (DOCN) shares are sliding more than 10 percent on Tuesday morning trade after the company’s revenue outlook for the fourth quarter came in below estimates.
The company expects fourth-quarter adjusted earnings per share in a range of $0.18-$0.19. On average, 11 analysts polled by Thomson Reuters are looking for $0.25 per share. Analysts estimates usually exclude special items. Revenue for the fourth quarter is expected to be in the range of $160-$162 million. Analysts projects $162.97 million.
Five9 Spikes After Reporting Revenue Growth In Q3
Shares of Five9, Inc. (FIVN) are gaining more than 16 percent on Tuesday morning trade after the company reported an increase in third-quarter revenue, compared to the prior year.
Revenue for the third quarter increased to $198.34 million from $154.33 million last year.
For the fourth quarter, the company expects adjusted net income per share in the range of $0.40 to $0.42. Revenue is expected to be in the range of $204.0 to $205.0 million.
For the full year, the company projects adjusted earnings per share in the range of $1.35 to $1.37. Revenue is projected to be in the range of $774.5 to $775.5 million.
Currently, shares are at $53.92, up 14.53 percent from the previous close of $47.00 on a volume of 3,684,499.
Two hospitalized in ‘serious’ six-car crash Monday night near Longmont
Two people were hospitalized in a serious car crash south of Longmont on Colo. 52, Mountain View Fire Rescue reported about 6:50 p.m. Monday night.
Six cars were involved in the crash between U.S. 287 and County Line Road.
Two people were taken by ambulance to local hospitals.
European Economics Preview: Germany Foreign Trade, Unemployment Data Due
Foreign trade, unemployment and final manufacturing Purchasing Managers’ survey results from Germany are due on Wednesday, headlining a busy day for the European economic news.
At 3.00 am ET, Destatis is scheduled to issue Germany’s foreign trade and unemployment figures for September. Exports are forecast to grow 0.1 percent on month, slower than the 1.6 percent increase in August. Imports are expected to fall 0.4 percent.
At 4.00 am ET, manufacturing PMI survey results are due from Poland and Hungary.
At 4.15 am ET, Spain’s manufacturing PMI survey data is due. The index is forecast to fall to 47.5 in October from 49.0 in the previous month.
At 4.45 am ET, S&P Global publishes Italy’s manufacturing PMI survey results. Economists expect the index to ease to 46.9 in October from 48.3 a month ago.
At 4.50 am ET, final factory PMI survey results are due from France. The score is seen at 47.4 in October, unchanged from flash estimate, and down from 47.7 in September.
At 4.55 am ET, the Federal Labor Agency publishes Germany’s unemployment data for October. The jobless rate is forecast to remain unchanged at 5.5 percent. Also, S&P Global releases final manufacturing PMI. Germany’s final PMI is expected to match the flash estimate of 45.7.
At 5.00 am ET, Eurozone final PMI survey data is due. Economists expect the index to fall to 46.6 in October, in line with flash estimate, from 48.4 in September.
