Advanced Health Up 36% On Deal With Changlin Network Technology
Shares of Advanced Health Intelligence Ltd. (AHI) are up 36% on Wednesday after the company announced that it has executed a binding exclusive, perpetual license with Shanghai-based Changlin Network Technology Ltd.
AHI is trading on the Nasdaq at $4.21, up 36.56% or $1.12 per share. It has traded between $0.64 and $15.52 in the past 52-week period.
The license agreement includes an upfront payment of USD$10 million to AHI. The company is also set to receive an annual license fee of $5 million and a 25% revenue share of gross sales.
Changlin is set to issue an initial 50% holding to AHI, furthermore, it is targeting an IPO in 2024, in such an event, AHI will maintain up to 25%, but not less than 20%, of its common shareholding in Changlin at the IPO.
Camping World Holdings Stock Down 13% On Q2 Results
Shares of Camping World Holdings, Inc. (CWH) are falling 13.72 percent Wednesday morning after reporting lower second-quarter results compared to the previous year.
Camping World Holdings is currently trading at $26.98, down $4.29 or 13.72 percent. The stock opened its trading at $26.34 after closing Tuesday’s trading at $31.27. The stock has traded between $18.69 and $33.99 in the past 52-week period.
The company reported a profit of $28.7 million, or $0.64 per share for the second quarter, lower than $84.3 million, or $2.01 per share in the comparable quarter last year.
Excluding one-time items, the company reported earnings of $32.8 million or $0.73 per share. The analyst estimates were $0.78 per share.
Revenue in the quarter was $1.9 billion, compared with $2.1 billion last year, a decrease of 9.5 percent year over year.
Ardelyx Q2 Loss Narrows
Biopharmaceutical company Ardelyx, Inc. (ARDX), on Wednesday reported narrower loss for the second-quarter that beat Street’s view. For the first time, the company also provided guidance on IBSRELA net sales revenue.
The company reported a loss of $17.1 million, or $0.08 per share, compared to net loss of $26.9 million, or $0.19 per share in 2022 year over year.
Seven analysts polled by Thomson-Reuters expected the company to report loss of $0.11 per share for the quarter.
Revenue was $22.3 million in the second-quarter compared to $2.5 million in 2022 year over year.
Looking forward to the full fiscal of 2023, the company announced its revenue outlook for IBSRELA to be between $72 million and $77 million.
Ardelyx is currently trading up $0.05 or 1.43% at $3.89 in its regular trading session.
T Stamp Gains 75% On New Patent Issuance
Shares of T Stamp Inc. (IDAI) are gaining over 75% on Wednesday after the company announced that it has received a new patent issuance for AI-powered technology from the US Patent and Trademark Office; entitled “Systems and Methods for Privacy-Secured Biometric Identification and Verification” Patent # 11,711,216.
IDAI is trading on the Nasdaq at $2.54, up 75.35% or $1.09 per share. It has traded between $0.77 and $9.85 in the past 52-week period.
SolarEdge Technologies Stock Slips 18% On Q3 Revenue Outlook
Shares of SolarEdge Technologies, Inc. (SEDG) are slipping over 18% on Wednesday morning after the company issued a weak revenue outlook for the third quarter.
SEDG is currently trading at $194.23, down $45.24 or 18.89%, on the Nasdaq. The stock opened its trading at $204.45 after closing Tuesday’s trading at $239.47. The stock has traded between $190.15 and $345.80 in the past 52-week period.
Looking forward to the third quarter, revenues to be within the range of $880 million to $920 million. Analysts currently estimate revenues of $1.05 billion.
For the second-quarter net income was $119.5 million or $2.03 per share, up from $15.1 million or $0.26 per share last year.
Adjusted profit was $157.4 million or $2.62 per share, up from $56.7 million or $0.95 per share last year. Analysts estimated revenues of $2.52 per share for the quarter.
The company reported record revenues of $991.3 million, up 36% from $727.8 million in the same quarter last year.
Penske Automotive Group Gains 8%
Penske Automotive Group, Inc. (PAG) shares are progressing more than 8 percent on Wednesday morning trade as the stock is set to replace Univar Solutions Inc. in the S&P MidCap 400 on August 4.
Currently, shares are at $175.74, up 8.07 percent from the previous close of $162.61 on a volume of 641,589.
Colliers Up 5% On Reaffirming FY Outlook
Shares of Colliers International Group Inc. (CIGI) are up 5% on Wednesday after the company reaffirmed its revenue outlook for the full year, despite its second-quarter earnings and revenue missing Street view.
CIGI is trading on the Nasdaq at $106.26, up 5.41% or $5.46 per share. It has traded between $84.16 and $133.03 in the past 52-week period.
The company has reaffirmed its previous revenue outlook of $4.4 billion – $4.6 billion.
The company reported a net loss of $6.85 million or $0.16 per share for the quarter, a decrease from last year’s profit of $30.36 million or $0.67 per share.
On an adjusted basis, it reported earnings of $1.31 per share, compared to the earnings of $1.84 per share the prior year. It missed the average estimate of analysts polled by Thomson Reuters of $1.39 per share.
Revenue increased to $1.08 billion from $1.13 billion the previous year. It missed the consensus estimate of $1.09 billion.
Freshworks Stock Rises 21% On Narrower Q2 Loss
Shares of Freshworks Inc. (FRSH) are rising 22 percent on Wednesday after reporting a narrower loss in the second quarter.
Freshworks is currently trading at $21.75, up $3.51 or 19.24 percent. The stock opened its trading at $21.56 after closing Tuesday’s trading at $18.24. The stock has traded between $11.92 and $23.09 in the past 52-week period.
The company reported a loss of $35.6 million, or $0.12 per share for the second quarter, lower than $69.7 million, or $0.24 per share in the comparable quarter last year.
Excluding one-time items, the company reported earnings of $19.8 million or $0.07 per share. The analyst estimates were $0.02 per share.
Revenue in the quarter was $145 million, compared with $121.4 million last year.