Rollover crash closes 32nd and Federal in Highland, Denver police say
A rollover crash has closed the intersection of 32nd Avenue and North Federal Boulevard near North High School.
No serious injuries were reported in the crash, the Denver Police Department said in a 7:53 a.m. tweet.
The closure is a couple blocks from Denver North High School and in between Highland and West Highland neighborhoods.
Alternate routes are advised, police said.
Mesa Laboratories Inc. Q3 Earnings Summary
Below are the earnings highlights for Mesa Laboratories Inc. (MLAB):
Earnings: $0.451 million in Q3 vs. -$2.060 million in the same period last year.
EPS: $0.08 in Q3 vs. -$0.39 in the same period last year.
Analysts projected $0.14 per share
Revenue: $54.287 million in Q3 vs. $54.696 million in the same period last year.
Children's Place Shares Slip 10% On Outlook Cut
Shares of Children’s Place, Inc. (PLCE) are slipping over 10% on Monday morning after the children’s apparel retailer lowered its outlook for the fourth quarter.
PLCE is currently trading at $41.90, down $4.76 or 10.21%, on the Nasdaq. The stock opened its trading at $46.29 after closing previous day’s trading at $46.66. The stock has traded between $29.20 and $74.10 in the 52-week period.
Children’s Place now expects fourth-quarter loss of $4.24 to $4.63 per share and adjusted loss of $4.02 to $4.41 per share. Previously, the company expected adjusted earnings of $0.50 to $0.75 per share.
Analysts polled by Thomson Reuters expect earnings of $0.55 per share for the quarter.
According to the company, the loss was primarily due to a deterioration in gross margin for reasons not expected when we provided prior guidance, particularly a macro-economic environment in the fourth quarter that proved to be far more challenging for its core customers than it originally anticipated.
Sales for the quarter are now expected to be between about $454 million to $456 million, down from prior guidance of $460 million at the low end. Analysts expect the company to report sales of $467.82 million for the quarter.
Life Storage Climbs On Acquisition Offer From Public Storage
Life Storage, Inc. (LSI) shares are gaining more than 10 percent on Monday morning trade after the company confirmed an unsolicited all-stock acquisition proposal from Public Storage (PSA). The self-storage properties provider said the offer for 0.4192 shares of Public Storage common stock for each outstanding Life Storage share.
Life Storage said its board will carefully review the proposal and determine the course of action and advised its shareholders to take no action at this time.
Currently, shares are at $122.00, up 10.33 percent from the previous close of $110.58 on a volume of 375,389.
ON Semiconductor Guides Q1 Well Below Estimates; Approves $3 Bln Share Buyback – Update
While reporting financial results for the fourth quarter on Monday, ON Semiconductor Corp. (ON) provided earnings and revenue guidance for the first quarter of fiscal 2023.
For the first quarter, the company projects earnings in a range of $0.99 to $1.11 per share and adjusted earnings in a range of $1.02 to $1.14 per share on revenues between $1.87 billion and $1.97 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.27 per share on revenues of $2.08 billion for the quarter. Analysts’ estimates typically exclude special items.
The company also announced that its Board of Directors has approved a new share repurchase program with authorization to repurchase up to $3 billion of shares of the company’s common stock through December 31, 2025.
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Timken Slides After Q4 Revenue Misses Estimates
Timken Co. (TKR) shares are declining more than 7 percent on Monday morning trade after the company’s fourth quarter revenues missed estimates.
The company reported quarterly revenue of $1.08 billion, up from $1.01 billion in the prior year. Wall Street analysts were looking for revenue of $1.09 billion.
Currently, shares are at $80.67, down 7.03 percent from the previous close of $86.77 on a volume of 292,034.
Omeros Gains 32% As It Receives $200 Mln Milestone Payment
Shares of Omeros Corporation (OMER) are gaining over 32% on Monday morning after the company said it received $200 million milestone payment from Rayner Surgical.
OMER is currently trading at $4.1000, up $1.0100 or 32.6861%, on the Nasdaq, on a huge volume of 7.2 million shares, above average volume of 0.5 million. The stock opened its trading at $4.1000 after closing previous day’s trading at $3.0900. The stock hast traded between $1.7400 and $7.7500 in the past 52-week period.
Omeros announced that Rayner Surgical paid the $200 million milestone payment related to the sale of Omeros’s ophthalmology product Omidria to Rayner in December 2021.
Rayner will continue to pay Omeros royalties on both U.S. and ex-U.S. net sales of Omidria.
Secoo Holding Spikes
Shares of online-offline boutique lifestyle platform Secoo Holding Ltd. (SECO) are surging more than 155 percent on Monday morning after the company said it will conduct in-depth research and expansion on AIGC and ChatGPT-related technologies for achieving conversion rate in luxury e-commerce operation model.
Currently, shares are at $4.33, up 155 percent from the previous close of $1.70 on a volume of 48,520,241.
RH Slips 7% On Outlook
Shares of RH (RH) are slipping over 7% on Monday morning after the company said it now expects full-year 2022 revenue growth at the lower end of its range.
RH is currently trading at $319.08, down $24.54 or 7.14%, on the NYSE. The stock opened its trading at $325.39 after closing previous day’s trading at $343.62. The stock has traded between $207.37 and $441.67 in the past 52-week period.
RH now expects 2022 revenue growth at the lower end of the prior range of -3.5% -4.5% and adjusted operating margin toward the higher end of the prior range of 21.5% to 22.0%.
The company also disclosed an accounting error in its financial reports for first quarter, second quarter and third quarter of the full year 2022.