Simpsons Q2 Earnings Rises, But Misses Estimates

Apple Unveils Third-Gen AirPods

Tech giant Apple Inc. (AAPL) Monday unveiled its long-awaited third-gen AirPods, featuring spatial audio as well as a new contoured design.

Priced at $179, the third-generation AirPods will be available to preorder today and will go on sale next week.

The new AirPods are resistant to sweat and water, as it has an IPX4 rating for both the earbuds and the charging case. It features a force sensor for easy and intuitive control of music and phone calls. Apple has also improved AirPods’ battery life, which now enables users to listen to music for up to six hours and up to 30 hours of total listening time with the charging case.

“AirPods forever changed wireless headphones with their groundbreaking design, incredible sound, and magical experience,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing. “We are excited to introduce the next generation of AirPods, featuring unrivaled sound through Adaptive EQ and spatial audio with dynamic head tracking, along with seamless interaction between Apple devices — making the world’s best-selling headphones even better.”

Apple also introduced HomePod mini in three bold new colors, yellow, orange, and blue. HomePod mini will be available in these new colors, along with white and space gray, with color-matched details throughout, including the tinted touch surface, mesh fabric, volume icons, and woven power cable, starting in November for just $99.

Veganz Sets IPO Price Range – Quick Facts

Veganz Group AG has set the price range for planned IPO at 85.00 euros to 110.00 euros per offered share. Upon full placement of all 547,120 offered shares, this corresponds to a total volume of the IPO between 46.5 million euros and 60.2 million euros. The anticipated gross proceeds is between 33.0 million euros and 42.8 million euros for the company. The offer period is expected to begin on 27 October 2021 and expected to end on 3 November 2021.

The final offer price and the final number of shares to be sold in the IPO will be
determined in a bookbuilding process and will be set on or about 3 November 2021, the company noted.

Pre-market Movers: KAVL, ETTX, DRMA, DBGI, VALN…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 05.50 A.M. EDT).

In the Green

Kaival Brands Innovations Group, Inc. (KAVL) is up over 26% at $2.04

Entasis Therapeutics Holdings Inc. (ETTX) is up over 23% at $3.84

Dermata Therapeutics, Inc. (DRMA) is up over 12% at $4.95

Digital Brands Group, Inc. (DBGI) is up over 11% at $3.49

AgEagle Aerial Systems, Inc. (UAVS) is up over 11% at $3.08

Venus Concept Inc. (VERO) is up over 9% at $2.18

Greenpro Capital Corp. (GRNQ) is up over 8% at $1.08

Celsion Corporation (CLSN) is up over 7% at $1.07

IonQ, Inc. (IONQ) is up over 5% at $11.31

Frontline Ltd. (FRO) is up over 5% at $9.73

InMed Pharmaceuticals Inc. (INM) is up over 5% at $1.61

In the Red

Valneva SE (VALN) is down over 8% at $35.90

ION Geophysical Corporation (IO) is down over 4% at $2.09

Opinion | Cori Bush and AOC Are Right About Jan. 6 and 1866

By Jamelle Bouie

Opinion Columnist

Eli Lilly And Co. Profit Drops In Q3

Eli Lilly And Co. (LLY) announced earnings for third quarter that dropped from the same period last year.

The company’s earnings came in at $1.11 billion, or $1.22 per share. This compares with $1.21 billion, or $1.33 per share, in last year’s third quarter.

Excluding items, Eli Lilly And Co. reported adjusted earnings of $1.76 billion or $1.94 per share for the period.

The company’s revenue for the quarter rose 17.9% to $6.77 billion from $5.74 billion last year.

Eli Lilly And Co. earnings at a glance:

-Earnings (Q3): $1.76 Bln. vs. $1.29 Bln. last year.
-EPS (Q3): $1.94 vs. $1.41 last year.
-Revenue (Q3): $6.77 Bln vs. $5.74 Bln last year.

Full year EPS guidance: $7.95 to $8.05
Full year revenue guidance: $27.2 to $27.6 Bln

Chesapeake Energy Shares Gain 7%

Shares of Chesapeake Energy Corporation (CHK) are gaining over 7% on Monday morning despite no stock-specific news statement from the company.

Meanwhile, oil prices continued its rally and hit multi-year high on Monday amid continuing expectations of supply tightening and signs of solid fuel demand in the United States and elsewhere in the world.

Chesapeake Energy engages in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids (NGL) from underground reservoirs in the United States.

CHK is currently trading at $66.45, up $4.38 or 7.06%, on the Nasdaq. The stock has traded between $40.00 and $68.37 in the past 52 weeks period.

Simpsons Q2 Earnings Rises, But Misses Estimates

California-based constructions company Simpson Manufacturing Co., Inc. (SSD), reported better earnings year-over-year in the third quarter, however, fell short of Street estimates.

Simpson reported a net income of $73.78 million or $1.70 earnings per share compared to $67.05 million or $1.54 earnings per share last year. On average, four analysts polled by Thomson Reuters forecast earnings of $1.77 per share for the quarter.

The revenue reported by the company also increased 9% to $396.70 million from $364.30 million. The analysts expected revenue of $447.79 million for the quarter.

The board of directors of the company announced a cash dividend of $0.25 per share on January 27 to investors on record on January 6.

Karen Colonias, president and CEO of the company, said, “During the third quarter, we experienced lighter sales volumes in North America in the distribution channels we serve. We believe our customers are adopting a more cautious stance in regard to their inventory levels given tightening labor and supply chain conditions and the potential impact on the building industry. Sales volumes also reflected an as expected decline year-over-year in our home center channel related to the load-in of our products at Lowe’s during the third quarter of 2020 following their return as a home center customer.”