Pre-market Movers: FRZA, SVFD, MEGL, HALL, TGA…

Babylon Issues Statement On M&A Speculation

Responding to the M&A speculations, Babylon Holdings Limited (BBLN) said it is taking active steps to maximize shareholder value and to improve shareholder base and capital structure, as discussed by Ali Parsa, CEO, in the second quarter earnings call. Babylon said it will continue to take further steps and consider opportunities to maximize value for shareholders.

The company stated that its focus will remain on delivering on its promise, maintaining quality and moving closer to profitability. The company believes the stock price will reflect these efforts over time.

World Wrestling Entertainment Q2 Profit Rises; Ups Outlook – Update

(Adds Outlook)

World Wrestling Entertainment Inc (WWE) reported a profit for its second quarter that increased from the same period last year

The company’s bottom line totaled $49 million, or $0.58 per share. This compares with $29.2 million, or $0.34 per share, in last year’s second quarter.

The company’s revenue for the quarter rose 23.6% to $328.2M from $265.6M last year.

Outlook:

The company lifted its full-year earnings outlook. For the fiscal 2022, WWE now expects its adjusted OIBDA to be in the range of $370 million to $385 million, versus its previous expectation of $360 million to $375 million.  

For the third-quarter, the company initiated guidance for its adjusted OIBDA of $70 million – $80 million.

World Wrestling Entertainment Inc earnings at a glance (GAAP) :

-Earnings (Q2): $49 Mln. vs. $29.2 Mln. last year.
-EPS (Q2): $0.58 vs. $0.34 last year.
-Revenue (Q2): $328.2M vs. $265.6M last year.

U.S. Housing Market Index Unexpectedly Drops To Two-Year Low In August

A report released by the National Association of Home Builders on Monday unexpectedly showed a continued deterioration in U.S. homebuilder confidence in the month of August.

The report showed the NAHB/Wells Fargo Housing Market Index dropped to 49 in August from 55 in July. Economists had expected the index to come in unchanged.

With the unexpected decrease, the housing market index fell below the key break-even measure of 50 for the first time since May 2020.

“Tighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession,” said NAHB Chief Economist Robert Dietz. “The total volume of single-family starts will post a decline in 2022, the first such decrease since 2011.”

He added, “However, as signs grow that the rate of inflation is near peaking, long-term interest rates have stabilized, which will provide some stability for the demand-side of the market in the coming months.”

The unexpected decrease by the headline index came as the current sales conditions index tumbled to 57 in August from 64 in July.

The traffic of prospective buyers index also slumped to 32 in August from 37 in July, while the sales expectations in the next six months index dipped to 47 from 49.

On Tuesday, the Commerce Department is scheduled to release a separate report on new residential construction in the month of July.

SIGNA Sports Posts Wider Loss In Q3

SIGNA Sports United N.V. (SSU) reported a third quarter net loss of 52 million euros compared to a loss of 13 million euros, previous year. Adjusted EBITDA was negative at 13 million euros, for the quarter, due to lower gross profit and inflationary pressures across cost lines in the current environment.

Net revenue was 324 million euros, up 29.2% year-over-year. On the pro forma basis, net revenue declined 14%, for the quarter.

For fiscal 2022, the company now anticipates, net revenue at 1.15 billion euros to 1.20 billion euros.

Alex Johnstone, CFO, said, “The company is well capitalized to make targeted investments in our logistics and technology platform, to deliver synergy and return to run-rate adjusted EBITDA profitability from the second half of our fiscal year 2023.”

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

Lumentum Q4 Adj. Profit Rises

Lumentum Holdings Inc. (LITE) reported fourth quarter non-GAAP net income per share of $1.47 compared to $1.06, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.33, for the quarter. Analysts’ estimates typically exclude special items.

GAAP net income attributable to common stockholders was $34.7 million, or $0.49 per share compared to $21.5 million, or $0.28 per share, last year.

Net revenue was $422.1 million, compared to $392.1 million, previous year. Analysts on average had estimated $417.15 million in revenue.

For the first quarter, the company expects: net revenue in the range of $490 million to $520 million; and non-GAAP earnings per share of $1.45 to $1.70.

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

Pre-market Movers: FRZA, SVFD, MEGL, HALL, TGA…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.45 A.M. ET).

In the Green

Forza X1, Inc. (FRZA) is up over 34% at $8.15
Magic Empire Global Limited (MEGL) is up over 28% at $22.70
TransGlobe Energy Corporation (TGA) is up over 20% at $3.96
ACV Auctions Inc. (ACVA) is up over 15% at $9.94
CN Energy Group. Inc. (CNEY) is up over 15% at $2.26
Mainz Biomed B.V. (MYNZ) is up over 13% at $10.57
Treasure Global Inc. (TGL) is up over 12% at $8.13
Energy Services of America Corporation (ESOA) is up over 11% at $2.67
Nu Holdings Ltd. (NU) is up over 10% at $5.16

In the Red

Save Foods, Inc. (SVFD) Is down over 34% at $3.11
Hallmark Financial Services, Inc. (HALL) is down over 26% at $1.82
Tremor International Ltd (TRMR) is down over 17% at $8.60
GAN Limited (GAN) is down over 15% at $3.67
Albireo Pharma, Inc. (ALBO) is down over 14% at $21.27
urban-gro, Inc. (UGRO) is down over 12% at $5.50
AmpliTech Group, Inc. (AMPG) is down over 11% at $2.45
Compass, Inc. (COMP) is down over 10% at $4.17
Bloom Energy Corporation (BE) is down over 7% at $28.03
ZipRecruiter, Inc. (ZIP) is down over 6% at $19.67
Sunlight Financial Holdings Inc. (SUNL) is down over 6% at $4.15
D-Wave Quantum Inc. (QBTS) is down over 5% at $10.11