Sunday, 25 Jul 2021

New York Manufacturing Index Spikes To Record High In July

Vietnam reports record 3,416 new coronavirus infections on Thursday

FILE PHOTO: Customers pay in a corner shop where a plastic divider is installed as a measure against the spread of the coronavirus disease (COVID-19) at a shop in Hanoi, Vietnam, February 18, 2021. REUTERS/Thanh Hue

HANOI (Reuters) – Vietnam reported 3,416 COVID-19 infections on Thursday, a new record daily increase.

Most of the cases were in Ho Chi Minh City, the country’s business hub.

Cintas Guides FY22 EPS Above Estimates – Quick Facts

While reporting financial results for the fourth quarter on Thursday, Cintas Corp. (CTAS) initiated its earnings and revenue guidance for the full-year 2022.

For fiscal 2022, the company now projects earnings in a range of $10.35 to $10.75 per share on revenues between $7.53 billion and $7.63 billion.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $10.03 per share on revenues of $7.66 billion for the year. Analysts’ estimates typically exclude special items.

IMV Prices 14.3 Mln Units Of Public Offering At $1.75/ Unit

IMV Inc. (IMV), a clinical-stage biopharmaceutical company, on Thursday said it priced its public offering of 14,285,714 units at $1.75, aggregating to $25 million.

Each Unit comprises one common share and three-quarters of one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one common share at a price of US$2.10 per common share, subject to adjustment in certain events, during a period of 60 months following the date of the closing of the Offering.

The Offering is expected to close on or about July 20, 2021 and the listing of the common shares underlying the Units and the Warrants are proposed on the TSX and Nasdaq.

The Corporation intends to use the net proceeds of the Offering to continue the clinical development of maveropepimut-S (DPX-Survivac) in diffuse large B cell lymphoma (DLBCL), breast cancer, ovarian cancer, bladder cancer and microsatellite instability high (MSI-H), start the clinical development of a new product, DPX-SurMAGE, in bladder cancer, continue the development of its proprietary drug delivery platform (DPX) and for general corporate purposes.

Wells Fargo Securities and Cantor are acting as joint book-running managers for the Offering. BTIG is acting as lead manager and iA Private Wealth is acting as co-manager.

Delta Apparel Says Q3 Sales Grew 65%; EPS At $0.90

Delta Apparel, Inc. (DLA), a provider of core activewear and lifestyle apparel products, on Thursday announced preliminary results for the third quarter, expecting net sales of about $118 million, implying 65 percent growth over third quarter of fiscal 2020.

Considering the stronger sales, higher gross margins and continued leverage of general and administrative expenses, the company expects earnings of over $0.90 per share.

The company said its Salt Life Group revenue surged across all sales channels, with the direct-to-consumer sales channel recording growth in excess of 150 percent compared to the third quarter of fiscal 2019. Delta Activewear also outperformed sales expectations, with strong demand from retail license and brand direct customers, it added.

The company continues to expect high demand from large retail and global brand partners within the segment. The third quarter financial results are scheduled to be released on August 5.

On Wednesday, the shares of Delta Apparel closed at $30.15, down $0.23 or 0.76 percent from previous close.

Olink Holding Up 4% After Pricing Public Offering Of ADS

Shares of Swedish proteomics development company Olink Holding AB (OLK) are up 4 percent on Thursday’s trading even as the company announced the pricing of 7.5 Mln American Depositary Shares at $31 per ADS.

The public offering will be sold by certain selling shareholders of the company who will receive all of the net proceeds from the offering and the company will not receive anything. The offering will close on/about July 19.

Currently trading at $34.40, the stock has traded between $25.55 and $42.20 during the past 52 weeks.

Liquid Media Group Up 51%

Liquid Media Group Ltd. (YVR) shares are spiking on Thursday morning trade after the company revealed on July 12 that big data intelligence will empower independent intellectual property creators around the world.

In an interview CEO Ron Thomson has said the company is growing through purposefully acquiring video content and technology businesses in four key areas that support its business model.

The shares of the business solutions company are currently at $2.40, up 51.89 percent from the previous close of $1.58 on a volume of 60,278,614. The shares have traded in a range of $1.31-$7.50 on average volume of 2,178,546.

New York Manufacturing Index Spikes To Record High In July

The Federal Reserve Bank of New York released a report on Thursday showing a substantial acceleration in the pace of growth in New York manufacturing activity in the month of July.

The New York Fed said its general business conditions index soared to 43.0 in July from 17.4 in June, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to inch up to 18.0.

With the much bigger than expected increase, the New York Fed’s general business conditions index reached a new record high.

The spike by the headline index came as the new orders index jumped to 33.2 in July from 16.3 in June, while the shipments index shot up to 43.8 from 14.2.

The employment index also advanced to 20.6 in July from 12.3 in June, indicating strong job growth during the month.

While the report showed the prices received index also climbed to 39.4 in July from 33.3 in June, the prices paid index fell to 76.8 from 79.8. Both price indexes were still at or near record highs

Looking ahead, the New York Fed said firms remained optimistic that conditions would improve over the next six months, although the index for future business conditions slid to 39.5 in July from 47.7 in June.

A separate report released by the Federal Reserve Bank of Philadelphia on Thursday showed a slowdown in the pace of growth in Philadelphia-area manufacturing activity in the month of July.

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