Friday, 1 Mar 2024

Gold Edges Higher As Investors Await Powel's Speech

GSK Plc Reports 100% Vaccine Efficacy From Post-license Phase IV Trial Of Shingrix In China

GSK plc (GSK,GSK.L) reported positive results from the efficacy trial of Shingrix in China. The results come from the post-license phase IV trial, which evaluated the efficacy and safety of Recombinant Zoster Vaccine in preventing shingles in adults aged 50 and over. The trial included almost 6,000 participants. No cases of shingles were reported among the participants who received RZV, compared to 31 cases in the placebo arm, the Group said.

RZV was first licensed for use in China in 2019 for the prevention of herpes zoster. The post-licence trial was undertaken to fulfil the requirement of regulatory authorities to evaluate the vaccine efficacy and safety of two doses of RZV for the prevention of shingles.

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Tracsis Sees Growth In FY23 Adj. EBITDA, Revenues

Transport technology provider Tracsis plc (TRCS.L), in its trading update on Wednesday, said that fiscal 2023 trading is in line with the company’s expectations.

For the year, adjusted EBITDA is expected to be around 16 million pounds. It was 14.2 million pounds for the same period last year.

Group revenue is expected to have increased by around 19 percent to more than 81.5 million pounds from 68.7 million pounds last year.

The company recorded strong growth in both divisions of Rail Technology and Services as well as data, analytics, consultancy and events.

Looking ahead, Tracsis said, “As a Group we expect the weighting of growth to be in the second half of the next financial year as we continue to grow our pipeline and deliver a large orderbook of work.”

The company is scheduled to release its full-year results on November 15.

Currently, shares of Tracsis are trading at 790 pence on the London Stock Exchange.

ATRenew Inc. Q2 Earnings Summary

Below are the earnings highlights for ATRenew Inc. (RERE):

Earnings: -RMB64.841 million in Q2 vs. -RMB125.250 million in the same period last year.
EPS: -RMB0.40 in Q2 vs. -RMB0.78 in the same period last year.
Excluding items, ATRenew Inc. reported adjusted earnings of RMB36.4 million or RMB0.22 per share for the period.

Revenue: RMB2.963 billion in Q2 vs. RMB2.145 billion in the same period last year.

-Guidance:
Next quarter revenue guidance: RMB3.150-RMB3.250Bln

Full Truck Alliance Q2 Net Income Rises; Net Revenues Up 23.5%

Full Truck Alliance Co. Ltd. (YMM) reported second-quarter net income of RMB 609.0 million compared to RMB 12.7 million, prior year. Net income per ADS was RMB 0.57, compared to RMB 0.01. Non-GAAP adjusted net income was RMB 722.7 million, an increase of 170.8% from last year. Non-GAAP adjusted net income per ADS was RMB 0.68, compared to RMB 0.25.

Total net revenues in the second quarter were RMB 2.06 billion, an increase of 23.5% from a year ago, primarily attributable to an increase in revenues from freight matching services. Average shipper MAUs was 2.00 million, an increase of 30.5% from 1.53 million in the same period of 2022.

The company expects total net revenues to be between RMB 2.16 billion and RMB 2.20 billion for the third quarter, representing a year-over-year growth rate of approximately 19.2% to 21.6%.

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Analog Devices Q3 Profit Increases, but misses estimates

Analog Devices (ADI) revealed earnings for its third quarter that increased from last year but missed the Street estimates.

The company’s bottom line came in at $877.02 million, or $1.74 per share. This compares with $748.99 million, or $1.44 per share, in last year’s third quarter.

Excluding items, Analog Devices reported adjusted earnings of $2.49 per share for the period.

Analysts on average had expected the company to earn $2.52 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 1.0% to $3.08 billion from $3.11 billion last year.

Analog Devices earnings at a glance (GAAP) :

-Earnings (Q3): $877.02 Mln. vs. $748.99 Mln. last year.
-EPS (Q3): $1.74 vs. $1.44 last year.
-Analyst Estimate: $2.52
-Revenue (Q3): $3.08 Bln vs. $3.11 Bln last year.

-Guidance:
Next quarter EPS guidance: $1.90 – $2.10
Next quarter revenue guidance: $2.60 – $2.80 Bln

Gold Edges Higher As Investors Await Powel's Speech

Gold prices inched higher on Wednesday, the dollar traded mixed against rivals and bond yields retreated as traders looked ahead to the Jackson Hole symposium at the end of the week.

Spot gold rose 0.3 percent to $1,903.62 per barrel, while U.S. gold futures were up 0.3 percent at $1,932.40.

The economic symposium in Jackson Hole, Wyoming, later this week will feature meetings by global central bank leaders as well as a speech by Federal Reserve Chair Jerome Powell, with traders hoping for some clarity on the Fed’s plans to keep inflation on a downward path.

Gold prices also drew some support from signs of weakening global growth following weak business activity reports from Asia, Europe and the U.K.

Data showed Japan’s factory activity shrank in August and Australia’s business activity contracted at the fastest pace in 19 months.

Elsewhere, Eurozone business activity contracted further in August as the region’s downturn spread further from manufacturing to services, according to PMI survey data published earlier today.

The S&P Global composite index flash reading fell to 47.0 from 48.6 in July, hitting its lowest since November 2020.

The U.K. manufacturing PMI fell from 45.3 to 41.5 in August, hitting a 39-month low, while the services PMI fell from 51.5 to 48.7, touching a 7-month low.

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