SkyWater Technology Stock Jumps 25% On Quarterly Results

Shares of SkyWater Technology, Inc. (SKYT) are gaining over 25% on Tuesday morning after the company reported third-quarter results.

SKYT is currently trading at $10.85, up $2.21 or 25.55%, on the Nasdaq. The stock opened its trading at $9.56 after closing Monday’s trading at $8.64.

Third-quarter net loss was $6.9 million or $0.17 per share, compared to net loss of $13.9 million or $0.36 per share last year. Adjusted loss per share for the quarter was $0.13, compared to a loss of $0.29 per share last year. Analysts expected a loss of $0.25 per share.

Revenue for the quarter was $52.3 million, up from $35.0 million last year.

Breaking: Binance Enters Agreement to Acquire FTX

• In a recent tweet, Binance’s CEO announced the exchange has entered a non-binding LOI intending to fully acquire competitor exchange FTX to help cover the “liquidity crunch.”
• This news comes after concerns raised by Binance and its announcement of selling FTT tokens based on “recent revelations” that had come to light.
• While Binance had never revealed what the revelations were, the exchange’s move put massive pressure on FTT and led to the crypto community questioning FTX’s liquidity, with many fearing a bank run.
• Yesterday, FTX’s CEO had tweeted that the exchange was “fine“. Earlier today however, it was reported that FTX appeared to have paused on-chain withdrawals.

This article originally appeared on The Tokenist

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Sabra Health Care REIT Down 10% On Q3 Loss

Shares of Sabra Health Care REIT, Inc. (SBRA) are sliding 10 percent on Tuesday’s trading after the company turned to loss in the third quarter. Revenues also came in below the Street expectations.

The company posted net loss of $50.1 million or $0.22 per share in the third quarter, compared to net income of $10.2 million or $0.05 per share in the same period last year.

Funds from Operations during the third quarter came in at $64.4 million or $0.28 per share, higher than $60.0 million or $0.27 per share in the year-ago quarter.

Total revenues climbed to $140.8 million from $128.6 million last year.

On average, 6 analysts polled by Thomson Reuters expected the company to post income of $0.17 per share on revenues of $156.4 million for the quarter.

Currently at $12.26, the stock has traded between $11.44 and $16.60 during the past 52 weeks.

Three-Year Note Auction Attracts Above Average Demand

The Treasury Department kicked off this week’s series of announcement of the results of its long-term securities auctions on Tuesday, revealing this month’s auction of $40 billion worth of three-year notes attracted above average demand.

The three-year note auction drew a high yield of 4.605 percent and a bid-to-cover ratio of 2.57

Last month, the Treasury also sold $40 billion worth of three-year notes, drawing a high yield of 4.318 percent and a bid-to-cover ratio of 2.57.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous three-year note auctions had an average bid-to-cover ratio of 2.48.

The Treasury is due to announce the results of this month’s auctions of $35 billion worth of ten-year notes and $21 billion worth of thirty-year bonds on Wednesday and Thursday, respectively.

Gold Futures Settle Sharply Higher As Dollar Sheds Ground

Gold futures settled higher on Tuesday as the dollar shed ground and bond yields dropped with investors looking ahead to U.S. inflation data, due later in the week.

The dollar index dropped to 109.35 this afternoon and despite recovering to 109.57, is down as much as 0.5% from the previous close.

Gold futures for December ended higher by $35.50 or about 2.1% at $1,716.00 an ounce.

Silver futures for December ended up $0.583 or about 2.8% at $21.502 an ounce, while Silver futures for December settled at $3.6285 per pound, gaining $0.0790.

Investors awaited the results of the U.S. midterm elections. Republicans are expected to take control of the House and possibly the Senate.

Investors also look ahead to U.S. consumer price inflation, as the data could have a significant impact on the outlook for interest rates.

Economists expect a modest slowdown in the annual rate of consumer price growth, which could add to optimism about a slowdown in the pace of rate hikes.

Tesla Recalls 40,000 Model S And X Vehicles Over Potential Loss Of Power Steering Assist

Tesla Inc. (TSLA) is voluntarily recalling over 40,000 2017-2021 Model S and Model X vehicles as they could experience a loss of power steering assist.

According to a filing with the National Highway Traffic Safety Administration, the recall requires a software update that will be made available to customers over the air.

According to the statement, a firmware release changed calibration values for the electronic power assist steering (EPAS) system. In rare cases on certain 2017-2021 Model S and Model X vehicles, the updated calibration values may result in reduced or lost power steering assist due to forces from external road dynamics (i.e., pot holes or bumps) being inadvertently classified as unexpected steering assist torque.

“Reduced or lost power steering assist does not affect steering control, but could require greater steering effort from the driver, particularly at low speeds,” the statement says.

An estimated 1% of recalled vehicles have the defect, according to the release.

Tesla said that that as of November 1, 97% of the recalled vehicles have installed a new update that addresses the issue, and no further action is necessary from those owners.

As of November 1, 2022, Tesla identified 314 vehicle alerts for this condition among U.S. vehicles that are related to or may be related to this condition. Tesla is not aware of any injuries or deaths related to this condition.