Winnebago Industries Q3 Net Profit Halves, But Adj. EPS Tops Estimates

Recreation vehicles maker Winnebago Industries, Inc. (WGO) reported on Wednesday that third-quarter net income plunged to $59.1 million or $1.71 per share from $117.2 million or $3.57 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $2.13 per share, compared to $4.13 per share in the year-ago quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.83 per share for the quarter. Analysts’ estimates typically exclude special items.

Revenues for the quarter declined 38.2 percent to $900.8 million from $1.46 billion in the same quarter last year. Analysts estimated revenues of $961.04 million for the quarter.

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

Pre-market Movers: VCIG, DTI, PCT, KWE, AULT…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.15 A.M. ET).

In the Green

PureCycle Technologies, Inc. (PCT) is up over 15% at $9.17.
KWESST Micro Systems Inc. (KWE) is up over 14% at $3.79.
Ault Alliance, Inc. (AULT) is up over 13% at $9.99.
Greenpro Capital Corp. (GRNQ) is up over 7% at $2.10.
Exact Sciences Corporation (EXAS) is up over 6% at $100.53.
Arbor Realty Trust, Inc. (ABR) is up over 5% at $14.16.

In the Red

VCI Global Limited (VCIG) is down over 18% at $5.94.
Drilling Tools International Holdings Inc (DTI) is down over 17% at $4.17.
Dynagas LNG Partners LP (DLNG) is down over 12% at $2.46.
JX Luxventure Limited (JXJT) is down over 11% at $2.50.
Cabaletta Bio, Inc. (CABA) is down over 7% at $11.48.
Youdao, Inc. (DAO) is down over 6% at $4.52.

CNN Plans Another July 4th Concert Special: Demi Lovato, Post Malone And Sheryl Crow Among Lineup Of Performers

CNN is planning another Independence Day special, The Fourth In America, that will include performances from Post Malone, Demi Lovato, Zac Brown Band and Leon Bridges.

Dana Bash, Boris Sanchez, Victor Blackwell and Cari Champion will host the special, which also will include Sheryl Crow, Darius Rucker, Alanis Morrisette, Duran Duran, Flo Rida, Smash Mouth and The Plain White Ts.

This will be the fourth year that the network has scheduled a Fourth of July special, following CNN’s long running tradition of New Year’s Eve coverage from Times Square.

The special also will include a performance by the United States Air Force Band, as well as fireworks shows from around the county, including Washington, D.C.

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Winnebago Slips Over 6% In Pre-market As Q3 Profit Plunges

Shares of recreation vehicles maker, Winnebago Industries, Inc. (WGO), are trading down on Wednesday morning after it posted a decline in earnings and revenue for the third-quarter.

WGO was trading down by 6.51 percent at $60 per share in the pre-market trading on the New York Stock Exchange.

The company’s third-quarter net income plunged to $59.1 million or $1.71 per share from $117.2 million or $3.57 per share in the prior-year quarter.

Revenues for the quarter declined 38.2 percent to $900.8 million from $1.46 billion in the same quarter last year.

DiaMedica Therapeutics Says FDA Lifts Clinical Hold On DM199 Phase 2/3 Trial For Ischemic Stroke

Biopharmaceutical company DiaMedica Therapeutics Inc. (DMAC) announced Wednesday that the U.S. Food and Drug Administration (FDA) has removed the clinical hold placed on the investigational new drug application for its ReMEDy2 phase 2/3 clinical trial studying DM199 in the treatment of acute ischemic stroke (AIS).

The company said preparations are underway to resume the ReMEDy2 trial as soon as possible.

The ReMEDy2 trial is an adaptive design, randomized, double-blind, placebo-controlled trial studying the use of the Company’s product candidate, DM199, to treat acute ischemic stroke (AIS) patients.

The trial is intended to enroll approximately 350 patients at 75 sites in the United States. Patients enrolled in the trial will be treated for three weeks with either DM199 or placebo, beginning within 24 hours of the onset of AIS symptoms, with the final follow-up at 90 days.

For More Such Health News, visit rttnews.com

Patterson Up Over 11% In Pre-market As Q4 Results Beat View; Annul Outlook Above Estimates

Shares of Patterson Companies, Inc. (PDCO) were gaining over 11 percent on Wednesday morning after the company posted a rise in earnings and revenue for the fourth-quarter and initiated full year 2024 outlook, above analysts’ estimates.

PDCO was trading up by 11.82 percent at $31.60 per share in the pre-market trading on the Nasdaq.

For the final-quarter, the healthcare company posted a net income of $74.97 million or $0.77 per share, compared with $63.88 million or $0.65 per share a year ago.

Excluding items, PDCO reported earnings of $82.40 million or $0.84 per share for the period. On average, 12 analysts, polled by Thomson Reuters had expected the company to record income per share of $0.70. Analysts’ estimated typically exclude special items.

Revenue for the quarter rose by 4.9 percent to $1.72 billion from $1.64 billion of previous year.

For full year 2024, PDCO expects net income per share of $2.14 – $2.24. Excluding items, Patterson projects income per share of $2.45 – $2.55, above analysts’ estimate of $2.34.