Thursday, 2 Feb 2023

LightInTheBox Posts Narrower Loss In Q3; Revenues Up 22.6%

Devro Plc 4-month Revenue Up 10% At Constant Currency – Quick Facts

Devro plc (DVO.L) said the Group traded strongly in the period 30 June to 31 October 2022 with reported revenue growth of 16% or up 10% at constant currency compared to the prior year period. The Group said constant currency revenue growth was driven by higher pricing, successful recovery of inflation, as well as good volume increases led by its mature markets. Operating margins were up on the prior year and well ahead of those achieved in the first half.

The Group said its current trading and the full year outlook are slightly ahead of the Board’s expectations.

Gold Edges Lower After Recent Gains

Gold prices edged lower in European trade on Friday after three consecutive sessions of gains.

Gold slipped 0.3 percent to $1,750.30 per ounce, while U.S. gold futures were up 0.3 percent at $1,750.75.

The dollar index held near three-month lows against a basket of major rivals, helping cap bullion’s downside.

The dollar is also on course for a weekly decline on hopes for slower interest-rate hikes in the United States.

The yield on the benchmark 10-year Treasury note eased by two basis points to 3.6887 percent as investors continued to absorb the Federal Reserve’s November meeting minutes published earlier in the week.

The minutes reinforced investor expectations of less aggressive interest rate hikes by the Federal Reserve in its upcoming meetings.

Elsewhere, the ECB’s October meeting minutes suggested the central bank might ‘pause’ monetary tightening if there was a prolonged and deep recession.

U.S. markets will close early today as trading resumes after a holiday on Thursday for Thanksgiving.

Pre-market Movers: PXMD, SCLX, ISEE, GTHX, STKH…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.30 A.M. ET).

In the Green

PaxMedica, Inc. (PXMD) is up over 50% at $2.33
IVERIC bio, Inc. (ISEE) is up over 21% at $21.00
Steakholder Foods Ltd. (STKH) is up over 20% at $2.54
StoneCo Ltd. (STNE) is up over 18% at $11.71
Ross Stores, Inc. (ROST) is up over 17% at $114.99
Korea Electric Power Corporation (KEP) is up over 17% at $8.59
Clearfield, Inc. (CLFD) is up over 13% at $106
Palo Alto Networks, Inc. (PANW) is up over 8% at $169.60
The Gap, Inc. (GPS) is up over 7% at $13.66
TPG RE Finance Trust, Inc. (TRTX) is up over 7% at $7.47
PagSeguro Digital Ltd. (PAGS) is up over 6% at $12.31
Terran Orbital Corporation (LLAP) is up over 6% at $2.84

In the Red

Scilex Holding Company (SCLX) is down over 30% at $6.50
G1 Therapeutics, Inc. (GTHX) is down over 21% at $6.69
RAPT Therapeutics, Inc. (RAPT) is down over 10% at $19.06
Farfetch Limited (FTCH) is down over 10% at $8.14
Tian Ruixiang Holdings Ltd (TIRX) is down over 9% at $2.37
Coeptis Therapeutics Holdings, Inc. (COEP) is down over 9% at $2.03
Williams-Sonoma, Inc. (WSM) is down over 7% at $120.98
Perfect Corp. (PERF) is down over 5% at $9.41
Cryo-Cell International, Inc. (CCEL) is down over 5% at $4.61

Oil Gains As Dollar Weakens On Dovish Fed

Oil prices rose sharply on Friday as the dollar continued to weaken, making it cheaper for non-dollar holders to buy greenback-priced commodities.

Supply-side risks also offered some support amid wrangling over Russian oil price cap and an impending EU ban on Russian oi.

Benchmark Brent crude futures rallied 1.4 percent to $86.54 a barrel, while WTI crude futures were up 2 percent at $79.47.

The U.S. dollar hovered near a three-month low and was headed for a weekly loss on hopes for slower interest-rate hikes in the United States.

European diplomats remained undecided about the level of a price cap on Russian oil despite the looming December 5th deadline. The EU plans to ban purchases of the country’s oil products from Feb. 5.

Amid talk of split over the deal to cap prices for Russian seaborne oil, Ukraine’s President Volodymyr Zelenskiy today called on European Union governments to remain united against Russia’s war and to severely limit the price for Russian oil.

“There is no split, there is no schism among Europeans, and we have to preserve this. This is our mission number one this year,” Zelenskiy said in an address via a live video link to a conference in Lithuania.

Earlier, media reports suggested that the G-7 countries were planning to impose a cap on Russian seaborne oil of $65-$70 a barrel.

Blue Hat Concludes Shengruihao Technology Acquisition

Blue Hat Interactive Entertainment Technology (BHAT), a Chinese firm, said on Friday that its unit Fujian Blue Hat Group Co. Ltd., has completed the acquisition of Xiamen Shengruihao Technology Co., Ltd., a provider of product supply chain and integrated enterprise services.

It was on August this year that Blue Hat announced the deal.

Chen Xiaodong, CEO of Blue Hat, said: “…The turnover of Shengruihao is $45 million over six months. With the addition of Shengruihao, we estimate that it will create $45-$70 million of annual revenue for the company in the future. I believe that Shengruihao’s outstanding achievements in commodity supply chain services can become a catalyst for Blue Hat’s future growth…”

LightInTheBox Posts Narrower Loss In Q3; Revenues Up 22.6%

LightInTheBox Holding Co. Ltd. (LITB) reported a third-quarter net loss of $0.4 million, compared with a loss of $6.1 million, prior year. The company posted breakeven per ADS, compared with a net loss per ADS of $0.05. Adjusted EBITDA was $0.4 million, compared with a loss of $5.1 million.

Total revenues increased by 22.6% year-over-year to $121.0 million from $98.7 million, prior year. Sales from apparel increased by 60.8% to $99.6 million.

As of September 30, 2022, the company had cash and cash equivalents and restricted cash of $57.0 million.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

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