Gerresheimer Q2 Profit Down, Revenues Up; Confirms FY22 View; Sees Growth In Medium Term

Gerresheimer AG (GRRMF.PK), a maker of medical packaging products, reported Wednesday that second-quarter net income attributable to shareholders declined to 25.16 million euros from last year’s 28.13 million euros.

Earnings per share were 0.80 euro, down from 0.90 euro a year ago.

Adjusted net income was 43.4 million euros or 1.34 euros per share, compared to 40.8 million euros or 1.28 euros per share last year.

Adjusted EBITDA grew 10 percent from last year to 90.1 million euros.

Revenues increased 18 percent to 444.62 million euros from 377 million euros a year ago. Organic revenue growth was 13 percent.

Looking ahead for fiscal 2022, the company said it is firmly on track to deliver double digit revenue growth with high single-digit growth in adjusted EBITDA and adjusted earnings per share.

Organic revenue growth for the year would be at least 10 percent.

For the medium term, the company expects high single-digit organic revenue growth, 23 percent -25 percent organic adjusted EBITDA margin, and adjusted earnings per share growth of at least 10 percent p.a.

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Clarkson Plc Sees Rise In H1 Earnings, FY22 Results Above View

Clarkson Plc (CKN.L), a provider of shipping services, said on Wednesday that it expects a rise in earnings for the first half, amidst strong performance across all divisions, mainly Broking division.

For the six-month period to June 30, the company expects to post its underlying profit before tax at 42 million pounds, compared with 27.5 million pounds, posted a year ago.

The British firm has also noted that it is confident with the business performance and expects fiscal 2022 results to beat its previous projections.

CSL Extends Postponement Of Settlement Of Vifor Pharma’s Acquisition Offer

CSL Limited (CSL), an Australian bio-tech firm focused on biotherapies and influenza vaccines, said on Wednesday that its arm CSL Behring AG has further postponed the settlement of acquisition offer for Vifor Pharma AG, a Swiss expert in iron deficiency and nephrology.

With this move, the postponement of settlement has been further extended until September 30 as the offer condition of the offer prospectus is not expected to be fulfilled by July 22, the original date of expiration.

CSL Behring’s intentions include a move to delist and an action filed with the Commercial Court of St. Gallen requesting the cancellation of the remaining publicly held Vifor Shares.

On January 18, the Australian firm had published an offer prospectus to buy all shares of Vifor at CHF 0.01 per share.

However, in March, CSL Behring declared a postponement of the settlement of the offer for a period of up to four months until July 22.

Pre-market Movers: KRNT, GATO, BGXX, BHIL, SANA…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 06.50 A.M. ET).

In the Green

Gatos Silver, Inc. (GATO) is up over 23% at $3.25
Bright Green Corporation (BGXX) is up over 18% at $2.57
Odyssey Marine Exploration, Inc. (OMEX) is up over 13% at $3.93
JE Cleantech Holdings Limited (JCSE) is up over 9% at $13.53
Kazia Therapeutics Limited (KZIA) is up over 7% at $4.49
Trinity Industries, Inc. (TRN) is up over 5% at $24.45

In the Red

Kornit Digital Ltd. (KRNT) is down over 24% at $23.88
Benson Hill, Inc. (BHIL) is down over 16% at $2.41
Sana Biotechnology, Inc. (SANA) is down over 15% at $6.32
Rocky Mountain Chocolate Factory, Inc. (RMCF) is down over 11% at $6.00
RADA Electronic Industries Ltd. (RADA) is down over 10% at $8.09
Dada Nexus Limited (DADA) is down over 8% at $8.62
DoorDash, Inc. (DASH) is down over 5% at $70.79

Enjoy Life Recalls Select Bakery Products

Enjoy Life Natural Brands LLC is recalling a limited quantity of a select baked snacks products due to the potential presence of foreign material, such as hard plastic pieces, the U.S. Food and Drug Administration said.

The recall involves Enjoy Life – Soft Baked Cookies – Snickerdoodle, Chocolate Chip, Double Chocolate Brownie, Sunseed Butter Chocolate Chip, Monster, and Amazon Variety Pack; Chewy Bars – Sunseed Crunch and Caramel Blondie; Soft Baked Fruit & Oat Breakfast Ovals – Apple Cinnamon, Chocolate Chip Banana, and Berry Medley; and Brownie Bites – Rich Chocolate and Salted Caramel.

The recall is limited exclusively to the Enjoy Life products with various UPC and Best By Dates. The affected products were sold in retail stores and online in the United States and Canada.

No other Enjoy Life Foods products are affected by the recall.

The recall was initiated following an internal quality assurance surveillance. The company has not received any reports of injury or illness related to these products to date.

Consumers are urged to discard any product, but keep any available packaging and contact the company for a refund.

For More Such Health News, visit rttnews.com

Oil Edges Higher After Heavy Selloff

Oil prices edged higher on Wednesday after seeing heavy losses in the previous session on concerns about a global economic slowdown and growing COVID-19 cases in China.

The upside, however, remained capped ahead of a highly anticipated U.S. inflation report due later in the day.

Economists forecast headline inflation accelerated to 8.8 percent year-on-year in June, marking a 40-year high.

Benchmark Brent crude futures rose 0.6 percent to $100.09 a barrel in European trade while WTI crude futures were up 0.7 percent at $96.52.

Both contracts plunged over 7 percent on Tuesday to end below $100 a barrel for the first time since April.

Traders await the latest U.S. supply report from the Energy Information Administration after industry data showed a large inventory build.

The American Petroleum Institute reported late Tuesday that U.S. crude stocks rose by about 4.8 million barrels for the week ended July 8, exacerbating fears of a wobble in oil demand.

Gasoline inventories rose by 2.9 million barrels and distillate stocks rose by 3.3 million barrels, the report showed.

Joe Biden will make his first visit as U.S. president to Saudi Arabia on Friday, where he will seek to persuade Riyadh to pump more oil to bring down prices.