Thursday, 7 Dec 2023

Li-Cycle Slides 42% On Suspending Its Rochester Hub Project

Citizens Financial Services Q3 EPS Declines

Citizens Financial Services, Inc. (CZFS), parent company of First Citizens Community Bank, announced Monday that net income for the third quarter was $7.55 million or $1.61 per share, compared to $7.54 million or $1.88 per share in the prior-year quarter.

Net interest income for the quarter grew to $21.93 million from $18.12 million, and non-interest income was $3.80 million, up from $2.69 million last year.
For more earnings news, earnings calendar, and earnings for stocks, visit

Revolution Medicines Falls On RMC-6236's Lower Response In Lung, Pancreatic Cancer Patients

Revolution Medicines, Inc. (RVMD) shares are falling more than 42 percent on Monday morning trade after the clinical-stage oncology company reported test results of RMC – 6236 where the response rate was lower in pancreatic and lung cancer patients.

The response for the treatment of lung cancer was 37.5 percent, and excluding unconfirmed responses, the response rate was only 30 percent.

In pancreatic cancer patients, the response rate was less than 10 percent.

RMC-6236 is a RASMULTI(ON) inhibitor and is intended for patients with previously treated non-small cell lung cancer and pancreatic ductal adenocarcinoma.

Currently shares are at $15.93, down 42.80 percent from the previous close of $27.97 on a volume of 5,896,427.

Northwest Bancshares Q3 Profit Increases – Quick Facts

Northwest Bancshares Inc. (NWBI) reported third quarter net income of $39.2 million, or $0.31 per share, an increase from $37.3 million or $0.29 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share for the third quarter. Analysts’ estimates typically exclude special items.

Net interest income decreased by $4.4 million or 3.9% to $108.4 million from last year. This decrease in net interest income resulted primarily from a $37.4 million increase in interest expense as result of increases in both the average balance and average cost of interest-bearing liabilities.

Noninterest income increased by $4.1 million, or 15.2%, to $30.9 million from the prior year.

The company declared a quarterly cash dividend of $0.20 per share payable on November 14, 2023 to shareholders of record as of November 2, 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit

Ultra Clean Expects Q3 Earnings To Fall; Stock Down In Pre-market

Ultra Clean Holdings, Inc. (UCTT), a supplier of critical subsystems, components and parts, on Monday said that it expects third quarter preliminary net income to fall and total revenue to be at or above the midpoint of the guided range.

Quarterly net loss per share is now expected to be around $0.32. The company had reported earnings of $0.21 per share for the same period, last year

On exceptional items basis, the net income per share is now expected to be around $0.04.

On average, three analysts polled by Thomson Reuters expect earnings of $0.15 per share for the year. Analysts’ estimates typically exclude special items.

Previously, on July 27 the company had announced that it expected net loss per share to be between $0.19 and $0.04 and adjusted net income per share to be between $0.08 and $0.28.

The shortfall is attributed to an abrupt decline in services business volume, reduced efficiencies, and an unfavorable mix of product revenue.

The company had also announced that it expected third quarter revenue in the range of $405.0 million to $455.0 million previously.

Total Revenue was $635.0 million for the third quarter of the prior year.

In pre-market activity, Ultra Clean shares are trading at $23.64, down 4.52% on Nasdaq.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic sentiment from Germany are the top economic news due on Tuesday.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK labor market statistics. The jobless rate is seen unchanged at 4.3 percent in three months to August. At the same time, average earnings growth including bonus are forecast to grow at a slower pace of 8.3 percent after an increase of 8.5 percent in three months to July.

At 5.00 am ET, Germany’s ZEW economic confidence survey data is due. The confidence index is forecast to improve to -9.3 in October from -11.4 in September.

At 7.50 am ET, European Central Bank’s supervisory board member Kerstin af Jochnick is set to speak at a conference in Berlin.

AMN To Acquire MSDR

AMN Healthcare Services, Inc. (AMN) on Monday announced an agreement to acquire MSDR for $300 million.

This acquisition is anticipated to enhance AMN Healthcare’s potential locum tenens revenue.

The company expects the deal to be modestly accretive to adjusted earnings per share in the first twelve months.

The transaction is funded through available cash and loans from the revolving credit facility, with the anticipated closing in the fourth quarter of 2023.

MSDR which serves healthcare systems across the U.S., consists of two healthcare staffing companies that specialize in locum tenens and advanced practices, Medical Search International (MSI) and DRW Healthcare Staffing (DRW).

Li-Cycle Slides 42% On Suspending Its Rochester Hub Project

Shares of Li-Cycle Holdings Corp. (LICY) are sliding further by 42% on Monday after the company announced that it would suspend construction work on its Rochester Hub project.

LICY is trading on the New York Stock Exchange at $1.30, down 42.51% or $0.96 per share. It has traded between $1.15 and $6.58 in the past 52-week period.

As a result of the increase in construction costs, the Company anticipates that the total cost for the project’s current scope will exceed its previously announced guidance.

In light of these changes, the Board has decided to suspend construction on the Rochester hub, pending a project review, including an assessment of the next phase of the project scope and budget including construction strategy.

Related Posts