Teleflex Receives Health Canada Approval Of MANTA Vascular Closure Device

Medical technologies firm Teleflex Inc. (TFX) announced Wednesday that it received Health Canada approval for the MANTA Vascular Closure Device, the first commercially available biomechanical vascular closure device designed specifically for large bore femoral arterial access site closure.

This approval marks an important milestone in the regulatory plan to expand the availability of the MANTA Device globally and provides access to another uniquely designed device from Teleflex to Canadian clinicians.

Available in 14 Fr. and 18 Fr., the MANTA Device is indicated for closure of femoral arterial access sites while reducing time to hemostasis following the use of 10-20F devices or sheaths (12-25F OD) in endovascular catheterization procedures.

The SAFE MANTA IDE Clinical Trial, the largest North American prospective multi-center, single-arm trial of a purpose-designed large bore femoral access site closure, demonstrated that the MANTA Device successfully achieves fast reliable biomechanical closure with rapid hemostasis, with all primary and secondary endpoints met.

Magnachip Semiconductor Rally Remains

Magnachip Semiconductor Corp. (MX) shares are up 13 percent on Wednesday morning trade continuing an uptrend since May 12. Today there have been no company-specific news that could influence the stock.

Currently, shares are at $19.65, up 13.39 percent on a volume of 1,286,384. For the 52-week period the shares have traded in a range of $14.66-$26.90 on average volume of 538,126.

Gold Drops Post Aggressive Fed Hints

Gold prices dropped further on Wednesday amidst an aggressive tone by the Fed on inflation control. The Fed Chair Jerome Powell had on Tuesday hinted that the Fed would keep tightening till inflation has been tamed.

U.K.’s inflation rising to a 40-year high and the likely aggressive response by the Bank of England also weighed on market sentiment.

Bond Yields increased across tenors and geographies in response to the developments around inflation and its management, and impacted prices of the non-interest-bearing yellow metal.

The Dollar Index (DXY) however traded between 103.19 and 103.77, much below the 20-year high of 105 touched on May, 13. DXY is currently near 103.53, a 0.16 percent surge over the previous close of 103.34. The drop in the price of the yellow metal is despite the weakness in the Dollar.

Gold Futures for June settlement dropped 8 points to trade at $1,810.75, down 0.45 percent on an overnight basis. Prices oscillated between $1,805.25 and $1,819.19 versus the previous close of $1818.90.

The TJX Companies, Inc. Profit Rises In Q1, but misses estimates

The TJX Companies, Inc. (TJX) revealed earnings for its first quarter that increased from last year but missed the Street estimates.

The company’s earnings totaled $587.47 million, or $0.49 per share. This compares with $533.93 million, or $0.44 per share, in last year’s first quarter.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 13.1% to $11.41 billion from $10.09 billion last year.

The TJX Companies, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $587.47 Mln. vs. $533.93 Mln. last year.
-EPS (Q1): $0.49 vs. $0.44 last year.
-Analyst Estimate: $0.60
-Revenue (Q1): $11.41 Bln vs. $10.09 Bln last year.

-Guidance:
Next quarter EPS guidance: $0.65 to $0.69
Full year EPS guidance: $3.13 to $3.20

Canopy Growth Gets Call Option To Acquire Up To 100% Of Equity Interests In Jetty

Canopy Growth Corp. (WEED.TO,CGC) and Lemurian, Inc. or Jetty, have entered into agreements providing Canopy Growth, by way of a wholly-owned subsidiary, the right to acquire up to 100% of the outstanding capital stock of Jetty, a cannabis brand in California.

The agreements are structured as two separate option agreements whereby Canopy Growth has a call option to acquire Jetty. Canopy Growth will make aggregate upfront payments in the amount of approximately $69 million payable through a combination of cash and Canopy Growth common shares, a majority of which will be Canopy Growth common shares, in exchange for approximately 75% of the equity interests in Jetty.

Upon exercise of the rights to acquire up to 100% of the equity interests in Jetty covered by the first option agreement, Canopy Growth will make an additional payment, also to be satisfied through a combination of cash and Canopy Growth common shares.

Tencent Holdings Limited Q1 Profit Declines

Tencent Holdings Limited (TCTZF.PK) released earnings for first quarter that decreased from last year

The company’s earnings totaled RMB23.413 billion, or RMB2.404 per share. This compares with RMB47.767 billion, or RMB4.917 per share, in last year’s first quarter.

Excluding items, Tencent Holdings Limited reported adjusted earnings of RMB25.5 billion or RMB2.620 per share for the period.

The company’s revenue for the quarter rose 0.1% to RMB135.471 billion from RMB135.303 billion last year.

Tencent Holdings Limited earnings at a glance (GAAP) :

-Earnings (Q1): RMB23.413 Bln. vs. RMB47.767 Bln. last year.
-EPS (Q1): RMB2.404 vs. RMB4.917 last year.
-Revenue (Q1): RMB135.471 Bln vs. RMB135.303 Bln last year.

Keros Therapeutics Stock Slips 9%

Shares of Keros Therapeutics, Inc. (KROS) are slipping nearly 9% on Wednesday morning. The company announced preliminary topline results from its ongoing phase 1 clinical trial evaluating KER-012 in healthy volunteers.

KROS is currently trading at $42.01, down $4.12 or 8.94%, on the Nasdaq. The stock opened its trading at $44.26 after closing Tuesday’s trading at $46.14. The stock has traded between $28.50 and $68.29 in the past 52-week period.

The ongoing trial is designed as a randomized, double-blind, placebo-controlled, two-part trial to assess the safety, tolerability and pharmacokinetics of KER-012.

The company reported that KER-012 was generally well tolerated in Part 1 of this trial at dose levels up to 5 mg/kg, the highest dose level tested, when administered as a single dose. No serious adverse events were reported in Part 1 of this trial. Additionally, the majority of the adverse events that were observed in Part 1 of this trial were mild in severity.