Stock Alert: Glaukos Rises 13%; To Be Added To S&P SmallCap 600

Shares of ophthalmic medical technology company Glaukos Corporation (GKOS) are climbing more than 13% Tuesday morning and is currently trading at $40.49. The stock has traded in the range of $35.69- $84.65 in the past one year.

The company is going to be added to the S&P SmallCap 600 effective prior to the open of trading on Friday, March 13. It will replace AK Steel Holding which agreed to be acquired by Cleveland-Cliffs.

The company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Health Care Equipment Sub-Industry index.

For inclusion in the index, a stock must have a market capitalization in the range of $600 million to $2.4 billion. Glaukos has a market cap of about $1.749 billion.

Tekashi 6ix9ine’s prison release date set for August

Tekashi 6ix9ine will be released from prison in August.

The Gummo rapper was sentenced to two years in prison plus five years of supervised probation on federal racketeering charges on Dec. 18, 2019 in Manhattan federal court.

Stock Alert: China Online Education Climbs 13%

Shares of online education platform China Online Education Group (COE) are up more than 13% Tuesday morning after reporting upbeat fourth-quarter results.

The stock is currently at $33.78. It has traded in the range of $3.68- $37.19 in the last 52-weeks.

The company has reported breakeven for the first time in a quarter with net income of RMB1.5 million ($0.2 million) or $0.01 per ADR in the fourth quarter compared with net loss of RMB14 million in the same quarter a year ago. Excluding items, earnings of $0.04 beat the average estimate of analysts at $0.08 loss per share.

Revenue for the quarter increased 33.5% year-over-year to $57.2 million.

For the first quarter, the company expects revenue growth of 39.3% to 40.9%.

“…As school campuses have remained closed, hundreds of millions of students and teachers have turned to online platforms in an effort to maintain educational continuity….We are confident we can leverage our powerful online platform and our expertise in English language learning to make the high quality education resources available to more people,” said Mr. Jack Jiajia Huang, Founder, Chairman and Chief Executive Officer of China Online Education Group.

Soccer-Germany v Italy friendly to take place behind closed doors -DFB

BERLIN, March 10 (Reuters) – The March 31 friendly international between Germany and Italy in Nuremberg will take place behind closed doors due to the outbreak of the coronavirus, Germany’s Football Association (DFB) said on Tuesday.

The virus has already had an impact in German football with several Bundesliga games to be played hind closed doors. (Reporting by Thomas Seythal, Writing by Karolos Grohmann, Editing by Mark Heinrich)

Jet Airways’ creditors to meet on March 12

Jet Airways stopped flying in April 2019 after it ran out of cash

The committee of creditors (CoC) of grounded Jet Airways will meet on March 12, according to a regulatory filing.

The meeting has been scheduled as the revised deadline for submission of bids for the airline, which is undergoing an insolvency process, ended on Tuesday.

It could not be immediately ascertained whether any bids have been received.

Also read | 1,100 Jet Airways pilots decide not to fly from April 15: National Aviator’s Guild

The ninth meeting of the CoC is scheduled to be held on March 12, the regulatory filing on Tuesday said.

Last month, the deadline for submission of bids was extended to March 10.

Jet Airways stopped flying in April 2019 after it ran out of cash. It owes more than ₹8,000 crore to banks.

Stock Alert: Magnachip Up 10% After Raising Revenue Outlook

Shares of Magnachip Semiconductor Corp. (MX) are currently up 10% on Tuesday morning, after the company raised its revenue guidance.

A maker of analog and mixed-signal semiconductor platform solutions, MagnaChip increased its revenue view to $187 million to $197 million from previous guidance of $180 million to $195 million.

CEO YJ Kim said, “Our updated guidance range is based upon the best available current estimates and excludes any new and unanticipated potential negative impact from the effects of the coronavirus. We anticipate gross profit margin to be in the range of 23% to 25%.”

MX is currently trading at $10.10, up $0.93 or 10.15%, on the NYSE. The stock is down 13% year-to-date.

Can I Do This? What’s Allowed and What’s Not in ‘Lockdown Italy’

Italy and its 60.4 million inhabitants are in near-total lockdown. But what does that actually mean?

As news of the government’s decision to expand strict containment rules to the entire country spread on Monday evening, Italians began wondering how their lives would change. Is it okay to go to work ? What about visiting elderly relatives and walking the dog?

People took to social media to share their interpretations, ask questions or just vent about an escalation of restrictions that has no recent precedent in the Western world. To answer the most frequent queries, the government published a handy guide. 

Lebanon 2019 budget deficit at 11.4% -information minister

BEIRUT, March 10 (Reuters) – Lebanon Information Minister Manal Abdel Samad said on Tuesday the country’s budget deficit for 2019 was 11.4% of GDP.

Lebanese officials had projected a budget deficit for 2019 of less than 9% of GDP but later said the figure would likely end up higher because of the country’s deep economic crisis.