Stock Alert: Regis Tanks 12% On Quarterly Results
Shares of Regis Corporation (RGS) are currently slipping over 12% on Monday morning after its second-quarter loss were wider than Wall Street estimates.
RGS is currently trading at $7.94, down $1.14 or 12.56% on the NYSE.
Regis reported second-quarter loss from continuing operations of $73.7 million or $2.05 per share, wider than last year’s loss of $5.3 million or $0.14 per share.
Adjusted loss for the quarter were $1.01 per share, compared to adjusted earnings of $0.62 per share last year.
Revenues for the quarter plunged 75.8% to $60.1 million from $248.2 million last year.
Analysts polled by Thomson Reuters expected loss of $0.66 per share on revenues of $51.15 million.
‘Hotel Rwanda’ Hero, a Critic of President, Held in Terror Probe
Rwandan police detained Paul Rusesabagina, a former hotel manager who sheltered hundreds of people during the 1994 genocide and whose story was later adopted by Hollywood, on terrorism allegations.
Rusesabagina, portrayed as a hero in the Oscar-nominated 2004 movie ‘Hotel Rwanda’, was shown to the media in handcuffs at the headquarters of the Rwanda Investigations Bureau on Monday. It wasn’t disclosed how Rusesabagina, who lives in Belgium, was arrested.
The 66-year-old has been an outspoken critic of President Paul Kagame for several years and is a key member of the opposition Rwanda Movement for Democratic Change, which has an armed wing that engaged in a gunfight with government troops in 2018.
The investigations bureau said in statement he is suspected to be “the founder, leader, sponsor and member of violent, armed, extremist terror outfits.”
Kagame has often warned his critics that those who “betray” the country will be dealt with, and the country’s intelligence network has been accused by international human-rights groups of abducting and killing former allies in Rwanda and abroad. The government has rejected the allegations.
Stock Alert: Akcea Therapeutics Soars 60%
Shares of Akcea Therapeutics, Inc. (AKCA) surged 60% on Monday after Ionis Pharmaceuticals agreed to buy remaining stake in Akcea for $500 million..
AKCA is currently trading at $18.25, up $6.87 or 60.37%, on the Nasdaq.
Ionis will buy the remaining stake in Akcea, about 24%, for $18.15 per share in cash. The deal has received approval from both the Ionis and Akcea Boards of Directors. The deal is expected to close in the fourth quarter.
AMC sells foreign movie theaters for $77M amid COVID-19 crush
AMC Entertainment, the largest movie theater chain in the US, is selling off nine cinemas in the Baltic region as the coronavirus crushes sales.
The company on Monday announced that it has signed a deal to sell nine venues across Latvia, Lithuania and Estonia, to Up Invest, owners of a Baltic cinema group, for $77 million. AMC acquired the nine theaters in 2017 for $929 million from Nordic Cinema Group.
AMC closed all 600 of its national locations on March 17, and while it has slowly reopened some locations in the US and abroad, demand remains down as the virus rages on.
AMC president and Chief Executive Adam Aron touted the Baltic deal before turning to the current state of its business.
“We continue to be encouraged by attendance levels at theaters that have reopened in Europe, where essentially all theaters are open, and in the U.S., where almost 300 theaters are currently open for business,” he said. AMC has roughly 400 theaters internationally.
Last month, in order to thwart bankruptcy woes, AMC restructured about $2.6 billion of its debt and it received about $300 million in new cash. In the second quarter, AMC Entertainment lost $561.2 million, as revenues tumbled 98.8 percent to $18.9 million, from a year ago. The company said the half a billion loss marked its worse quarter in its 100-year history.
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Cycling: Ewan claims Tour de France stage three, Alaphilippe retains overall lead
SISTERON (REUTERS) – Asutralian Caleb Ewan won the third stage of the Tour de France, a 198-km hilly ride along the Alpine foothills on Monday (Aug 31).
Ireland’s Sam Bennett was second.
France’s Julian Alaphilippe retained the overall leader’s yellow jersey.
Tuesday’s fourth stage is a 160.5km effort from Sisteron to Orcieres-Merlette for the first summit finish of the race.
Stock Alert: Catalent Shares Up Over 3% On Upbeat Q4
Shares of Catalent Inc. (CTLT), which have been trading in the range of $31.04 – $91.95 for the past one year, are trading closer to its 52-week high of $91.95. CTLT is currently trading at $90.51, up $2.85 or 3.26% in regular trading session.
The company reported fourth-quarter net income of $134.8 million or $0.85 per share compared to $65.7 million or $0.44 per share last year.
Fourth-quarter adjusted net income was $154.4 million or $0.90 per share compared to $102.9 million or $0.70 per share reported a year ago.
Fourth quarter 2020 net revenue of $947.6 million increased 31% as reported, or 32% in constant currency, from the $725.7 million reported for the fourth quarter a year ago, partially driven by the acquisitions of the cell and gene therapy businesses as well as the acquisition of Bristol-Myers Squibb’s biologics, sterile, and oral solid dose product manufacturing and packaging facility in Anagni, Italy, and was partially offset by the divestiture of a manufacturing facility located in Braeside, Australia.
Analysts polled by Thomson Reuters expected earnings of $0.79 per share on revenue of $895.51 million for the quarter. Analysts’ estimate typically exclude certain special items.
For fiscal 2021, the company expects adjusted net income in the range of $390 million – $435 million, representing year-on-year growth of 11% – 24%; and net revenue in the range of $3.45 billion – $3.60 billion, representing year-on-year growth of 12% – 16%.
Twelve Wall Street analysts have a consensus revenue estimate of $3.36 billion for fiscal 2021.