Tuesday, 6 Dec 2022

Pre-market Movers: GNFT, ABEO, SPRB, IO, CERN…

Karmas Far Recalls Infant Bath Seats

Ontario, California-based Karmas Far Inc. is recalling about 900 units of infant bath seats due to drowning risk, the U.S. Consumer Product Safety Commission said.

The recall involves Karmas Far’s infant bath seats sold and marketed as a 2-in-1 or 3-in-1 booster seat for eating, bathing, and sitting up. The plastic bath seats with a removable tray were sold in yellow, orange, and white color schemes.

The affected bath seats were manufactured in China and sold online at Walmart, Amazon, Ebay, Wish and Bosonshop from August 2017 through October 2021 for between $35 and $75.

According to the agency, the bath seats fail to meet the federal safety standard for infant bath seats, including requirements for stability and leg openings. They can tip over while in use, posing a drowning hazard to babies.

However, the company has not received any reports of incidents or injuries related to the recalled products to date.

Consumers are asked to immediately stop using these infant bath seats and contact Karmas Far to receive a full refund for the purchase price.

In similar recalls in August, nearly 120 bath seats for babies that were imported by Frieyss and sold on Amazon.com have been recalled due to a risk of drowning.

Further, citing the drowning risk, Salt Lake City, Utah-based Huish Outdoors in September called back Oceanic Adult Dry Top Snorkels sold exclusively at Costco.

Gold climbs ₹ 398; silver zooms ₹ 1,033 on global cues

Gold price in the national capital on Friday rallied by ₹ 398 to ₹ 47,762 per 10 gram reflecting gains in precious metal prices in the international market, according to HDFC Securities.

In the previous trade, the yellow metal settled at ₹ 47,364 per 10 gram.

Silver also gained ₹ 1,033 to ₹ 61,147 per kg from ₹ 60,114 per kg in the previous trade.

In the international market, gold was trading with gains at $ 1,808 per ounce and silver was flat at $ 22.62 per ounce.

"Gold prices traded higher with spot gold prices at COMEX trading over half a per cent up at $ 1,808 per ounce on Friday. Gold prices rallied supported by weaker dollar and plunge in U.S. bond yields," HDFC Securities, Senior Analyst (Commodities), Tapan Patel said.

Here comes the Benelli TRK 251

Benelli has launched its quarter-litre adventure tourer, the TRK 251, at ₹ 2.51 lakh (ex-showroom, Delhi). In the BS4 era, Benelli offered a number of 250cc models, but ever since the BS6 emission norms kicked in, the company’s smallest bike for the Indian market has been the 374cc Imperiale 400. Now, the quarter-litre offerings are making a comeback, beginning with the TRK 251 adventure.

It is powered by a liquid-cooled single-cylinder 249cc engine, the same motor in the Leoncino 250 that was previously offered in India. Output figures stand at 25.8hp and 21.1Nm, which is slightly lower than its direct rival, the KTM 250 Adventure, which offers 29.9hp and 24Nm. The Austrian is also more affordable at ₹ 2.30 lakh (ex-showroom, Delhi).

Holding the little TRK together is a steel trellis frame, suspended on a USD fork and monoshock. While it is marketed as an adventure tourer, its ground clearance stands at only 170mm, which is similar to a Yamaha R15 V4. What will help it tour is its large 18-litre fuel tank, which when combined with the 250cc motor, should offer tremendous range.

With 17-inch alloy wheels at both ends, the TRK’s road-focus is clear and it rolls on very street-oriented Metzeler Sportec tyres. On the features front, it gets an LED headlight, fully digital instrumentation and dual-channel ABS.

Winnebago Industries Q1 Adj. Profit Rises

Winnebago Industries, Inc. (WGO) reported first-quarter adjusted profit per share of $3.51 compared to $1.78, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $2.25, for the quarter. Analysts’ estimates typically exclude special items.

Net profit was $99.6 million or $2.90 per share compared to $57.4 million or $1.70 per share, last year.

Revenue increased to $1.2 billion from $0.8 billion, a year ago. Analysts on average had estimated $1.01 billion in revenue. Revenues excluding the recently acquired Barletta business were $1.1 billion, an organic growth rate of 37.5% driven by continued strong consumer demand and pricing increases.

Shares of Winnebago Industries were up 5% in pre-market trade on Friday.

Merck: CHMP Adopts Positive Opinion For KEYTRUDA As Monotherapy For Adjuvant Treatment Of RCC

Merck (MRK) announced the CHMP of the European Medicines Agency has adopted a positive opinion recommending approval of KEYTRUDA, the company’s anti-PD-1 therapy, as monotherapy for the adjuvant treatment of adults with renal cell carcinoma at increased risk of recurrence following nephrectomy, or following nephrectomy and resection of metastatic lesions. The positive opinion is based on results from the pivotal phase 3 KEYNOTE-564 trial.

The CHMP’s recommendation will now be reviewed by the European Commission, and a final decision is anticipated in the first quarter of 2022.

Pre-market Movers: GNFT, ABEO, SPRB, IO, CERN…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.10 A.M. ET).

In the Green

Genfit SA (GNFT) is up over 44% at $4.80
Spruce Biosciences, Inc. (SPRB) is up over 20% at $2.99
Cerner Corporation (CERN) is up over 18% at $94.30
Moxian (BVI) Inc (MOXC) is up over 15% at $4.86
Adagio Therapeutics, Inc. (ADGI) is up over 11% at $15.78
E-Home Household Service Holdings Limited (EJH) is up over 9% at $1.80
Kiora Pharmaceuticals, Inc. (KPRX) is up over 9% at $0.95
ObsEva SA (OBSV) is up over 6% at $2.34

In the Red

Abeona Therapeutics Inc. (ABEO) is down over 25% at $0.37
ION Geophysical Corporation (IO) is down over 19% at $1.11
Rivian Automotive, Inc. (RIVN) is down over 9% at $99.03
UP Fintech Holding Limited (TIGR) is down over 9% at $4.39
Huadi International Group Co., Ltd. (HUDI) is down over 8% at $26.93
Jupai Holdings Limited (JP) is down over 8% at $0.96
Futu Holdings Limited (FUTU) is down over 7% at $34.43
Kaixin Auto Holdings (KXIN) is down over 5% at $1.60

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