Engage Mobility Surges 40% After It Announced Impending Launch Of Its "Super App"

Shares of micro-cap company Engage Mobility, Inc. (ENGA) are surging over 40% on Thursday morning after the company announced the impending launch of its long awaited “Super App” Bebuzee, which the company claims will compete with YouTube, WhatsApp, Instagram, TikTok, Netflix, Twitter, and Zillow.

ENGA is currently trading at $1.49, up $0.44 or 41.9048%, on the Nasdaq.

Joseph Onyero, CEO and founder of the company said: “Bebuzee will be the only app of its kind in Europe and North America… it will be an “app for everything”. Our one app isn’t just one app, it can actually be called a “Super App” because under its roof, it duplicates or supplants all the components of a wide array of most of the popular apps around the globe. Our app puts all these trend setting apps in one place… in the palm of our users hands: YouTube, WhatsApp, Instagram, TikTok, Netflix, Twitter, Zillow, Medium and more.”

Canaan Continues To Decline

Canaan Inc. (CAN) shares are sliding more than 17 percent on Thursday morning trade, continuing a down-trend since April 4. There were no corporate announcements on the day to influence the stock movement today.

Currently, shares are at $4.97, down 18.43 percent from the previous close of $6.09 on a volume of 6,999,943. The shares have traded in a range of $3.10-$19.73 on average volume of 5,188,691 for the last 52 weeks.

PriceSmart Q2 Profit Rises

Warehouse club operator PriceSmart, Inc. (PSMT) Thursday reported second-quarter net income of $31.5 million or $1.03 per share, up from $28.2 million or $0.92 per share last year.

Revenues for the second quarter increased 10.8% to $1.04 billion from $937.6 million last year.

For the second quarter, net merchandise sales increased 12.6% to $1.01 billion from $898.4 million last year. The company had 49 warehouse clubs in operation as of February 28, 2022 compared to 47 warehouse clubs in operation as of February 28, 2021.

Commenting on the results, CEO Sherry Bahrambeygui said, “The favorable results for the quarter were driven by net merchandise sales growth of 12.6% and comparable net merchandise sales growth of 10.3% as compared to the same period last year. Our 12-month trailing membership renewal rate was a record 89.8%, and our membership base has grown to its all-time high.”

Bestar Recalls 180,000 Wall Beds After One Women Dies

Over 180,000 Bestar wall beds sold across the U.S. and Canada have been recalled after one person got killed and another 68 people got injured.

According to the U.S. Consumer Product Safety Commission, the recalled Bestar wall beds can detach from the wall and fall onto those nearby, posing serious impact and crush hazard.

The recall involves the Nebula, PUR, Versatile, Edge, Cielo, Audrea, Lumina, Orion and Novello Full and Queen Wall Beds. The beds were sold online at Wayfair.com, Costco.com, Cymax.com and Amazon.com. The beds were sold from June 2014 through March 2022 for between $1,650 and $2,200.

In July 2018, a 79-year-old woman died after a Bestar wall bed fell on her, injuring her spine. Bestar has received reports of 60 additional incidents resulting in bruising and other injuries from the wall beds detaching and hitting consumers.

The company has asked customers to immediately stop using the recalled wall beds and consult the communication they received from Bestar. Consumers who are uncertain whether their wall bed needs to be reinstalled are entitled to a free inspection.

If the bed requires reinstallation, consumers are advised to use a professional installer. Bestar will reimburse consumers for the reinstallation cost and expects that cost to range from $170 – $207 for Above Top Shelf wall beds or $338 – $414 for Below Top Shelf wall beds.

European Economics Preview: Germany Industrial Production Data Due

Industrial production from Germany and house prices from the UK are due Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis releases Germany’s industrial production data for February. Economists forecast output to fall 0.2 percent on a monthly basis, in contrast to the 2.7 percent increase posted in January.

In the meantime, UK Halifax house price data is due for March. House prices had climbed 10.8 percent annually in February.

Also, industrial production data from Norway is due at 2.00 am ET.

At 5.00 am ET, Eurostat releases eurozone retail sales data for February. Sales are expected to grow at a faster pace of 0.6 percent on month after rising 0.2 percent in January.

At 6.00 am ET, consumer price data is due from Ireland.

At 7.30 am ET, the European Central Bank publishes the account of the monetary policy meeting of the Governing Council held on March 9 and 10.

‘Star Trek: Picard’ Recap: This Is a Musical Now

An uneven episode leaves more questions than answers about the direction of the season.

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Origin Agritech Rises 13% On New Purchase Agreements

Shares of agriculture technology company Origin Agritech Ltd (SEED) are rising 13 percent on Thursday’s trading after the company announced that it has signed purchase agreements to sell two feedstock companies a total 50,000 metric tons of its nutritionally enhanced corn.

Origin Agritech’s nutritionally enhanced corn brings down the need for expensive additives such as soybean meal for feedstock companies, and thus doubles their margins.

Currently at $8.30, the stock has traded between $4.21 and $17.54 during the past 52 weeks.