Ola S1 production pushed to late-2022

Splash Beverage Group Soars On Authorization For Pulpoloco Brand In 187 Ralph’s Grocery Stores

Splash Beverage Group, Inc. (SBEV) shares are gaining more than 30 percent on Wednesday morning trade after the company’s Pulpoloco brand received authorization for 187 Ralph’s grocery stores, a division of the Kroger Company.

The shares of the owner of a growing portfolio of alcoholic and non-alcoholic beverage brands are currently at $4.26, up 31.07 percent on a volume of 37,096,973. The shares have traded in a range of $0.99-$8.94 on average volume of 2,888,382.

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Progress Software Corp Q4 Profit Decreases, but beats estimates

Progress Software Corp (PRGS) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company’s bottom line totaled $14.93 million, or $0.33 per share. This compares with $17.66 million, or $0.39 per share, in last year’s fourth quarter.

Excluding items, Progress Software Corp reported adjusted earnings of $41.29 million or $0.92 per share for the period.

Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 11.4% to $143.73 million from $129.06 million last year.

Progress Software Corp earnings at a glance:

-Earnings (Q4): $14.93 Mln. vs. $17.66 Mln. last year.
-EPS (Q4): $0.33 vs. $0.39 last year.
-Analyst Estimates: $0.74
-Revenue (Q4): $143.73 Mln vs. $129.06 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.85
Next quarter revenue guidance: $139 – $142

Lupin ties up with China’s Fancoo Pharma

“Lupin is committed to serving the healthcare needs of the Chinese population by providing high quality products”

Lupin Ltd., a pharmaceutical company, said it has entered into a partnership with Shenzhen Foncoo Pharmaceutical Co. Ltd (Fancoo) of China to market its generic & complex generic medicines in that country.

This is Lupin’s first partnership arrangement in China.

Dr. Fabrice Egros, President, Growth Markets, Lupin said, “Lupin continues to invest in key growth markets. With China’s growing commitment to affordable and accessible healthcare, Lupin is committed to serving the healthcare needs of the Chinese population by providing high quality generic and complex generic products.”

“We are very excited about our partnership with Foncoo. We will continue exploring additional partnership opportunities in China to leverage our global portfolio including complex generics and specialty medicines,” he said.

Peng Yan, General Manager, Foncoo said, “Foncoo’s successful experiences on importing registration and marketing of the generic formulations and Lupin’s strong capability of making high-quality medicines make our perfect match to each other and our collaboration will most likely have a bright future.”

“We expect that the successful launch of our first product in China will come smoothly and soon. We will also continue exploring more opportunities to work with Lupin for providing more and more high-value and complex medicines to the Chinese physicians and patients,” he added.

State Street Projects FY22 Fee Revenue To Rise 3-4% – Quick Facts

State Street Corporation (STT) said it finished 2021 with a strong fourth quarter performance, contributing to a record year for fee revenue. Fourth quarter fee revenue increased 4%, primarily reflecting strong Servicing and Management fees, partially offset by lower FX trading services and Software and processing fees. Net interest income declined 3%, for the quarter. For fiscal 2022, the company estimates fee revenue to increase 3-4%.

Fourth quarter earnings per share ex-notable items was $2.00, up 18%. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $1.88, for the quarter. Analysts’ estimates typically exclude special items.

Net income increased to $697 million from $537 million. Earnings per share was $1.78 compared to $1.39, last year.

Total revenue was $3.1 billion, up 3% ex-notables. Analysts on average had estimated $3.01 billion in revenue. Total fee revenue was $2.51 billion compared to $2.42 billion.

State Street Corporation also announced that Cyrus Taraporevala, president and chief executive officer of State Street Global Advisors, will retire in 2022. Taraporevala will remain in his role through the completion of the search for his successor and transition process.

U.S. Highway 6 in Clear Creek Canyon closed during an emergency response.

U.S. Highway 6 in Clear Creek Canyon closed on Wednesday afternoon as emergency responders perform a technical rescue.

All lanes of the highway are closed at Tunnel One as members of the Golden Fire Department, Arvada Fire Protection District and Alpine rescue work on a technical rescue, the Jefferson County Sheriff’s Office said.

Drivers should seek alternate routes if possible.

Authorities were notified at about 11 a.m. of a man, who was alone, and in need of help. The rescue area is near Secret Falls, a popular ice-climbing spot, according to the sheriff’s office.

Ola S1 production pushed to late-2022

Ola Electric has revealed that production of the base S1 variant of its e-scooter will begin only in late 2022. They claim to have also sent mails to S1 buyers regarding the same. The company has also announced that it will upgrade all S1 customers to a restricted version of the S1 Pro. Customers will then have an option to continue using the scooter in restricted form or unlock the S1 Pro’s additional features and performance for a cost of ₹ 30,000.

The company says that the vast majority of its orders are for the S1 Pro, and therefore it is prioritising S1 Pro production. Until S1 production begins, the company will continue to provide buyers with a restricted S1 Pro.

The S1 gets a 2.98kWh battery pack that offers an ARAI-certified range of 121km, while the S1 Pro houses a 3.97kWh battery pack that promises 181km of ARAI-certified range. There is also a difference in top speed, with the S1 topping out at 90kph and the S1 Pro managing 115kph. Prices for the base variant are pegged at ₹ 99,999, while the Pro version comes in at ₹ 1,29,999 (all-prices, ex-showroom, excluding subsidies).