Delcath Systems Posts Narrower Loss In Q3 – Quick Facts
Delcath Systems, Inc. (DCTH) reported a third quarter net loss of $5.0 million, compared to a net loss of $7.5 million, a year ago. Loss per share was $1.16 compared to a loss of $73.82.
Third quarter product revenue was approximately $340 thousand, compared to $216 thousand, last year, from sales of CHEMOSAT procedures in Europe.
Gerard Michel, CEO of Delcath, said: “2021 will represent an inflection point for the company as we execute on four key priorities including compiling the HEPZATO KIT NDA, preparing for commercialization, raising awareness with investors and expanding the development of HEPZATO into additional areas of high unmet need.”
Brookfield Asset Management Q3 FFO Rises – Quick Facts
Brookfield Asset Management Inc. (BAM, BAM_A.TO) reported third quarter net income per share of $0.10 compared to $0.61, a year ago. FFO per Brookfield share increased to $0.65 from $0.54. Third quarter revenues were $16.25 billion compared to $17.87 billion, previous year.
On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.47, for the quarter. Analysts’ estimates typically exclude special items.
The Board declared a quarterly dividend of $0.12 per share, payable on December 31, 2020 to shareholders of record as at the close of business on November 30, 2020.
Indonesia Slips Into Recession In Q3
Amid the coronavirus pandemic, Indonesia’s economy slipped into a recession for the first time since the Asian financial crisis in 1998, data released by the statistics bureau revealed Thursday.
Gross domestic product fell 3.49 percent on a yearly basis in the third quarter after shrinking 5.32 percent in the second quarter. Economists had forecast an annual decline of 3 percent.
Technical recession is defined as two consecutive quarters of negative growth in real GDP.
On a quarterly basis, the economy expanded 5.05 percent, which was slower than economists’ expectations of 5.34 percent.
The expenditure-side breakdown showed that government spending grew 9.8 percent annually. Meanwhile, household spending was down 4.04 percent and investment plunged 6.5 percent.
Exports were down 10.8 percent and imports declined sharply by 21.9 percent.
The recovery should continue over the coming months, but it is likely to be slow and fitful as the pandemic is far from being under control, Gareth Leather, an economist at Capital Economics, said.
Fiscal and monetary policy is also likely to remain supportive, Leather said. The economist expects the central bank to ease monetary policy provided there are no further sudden sharp falls in the rupiah.
The bank had reduced the key interest rate four times this year to support the economy.
Leoni Posts Narrower Loss In Q3 – Quick Facts
Leoni (LEOGN) reported a third quarter net loss of 52 million euros compared to a loss of 88 million euros, previous year. Loss per share was 1.60 euros compared to a loss of 2.69 euros. EBIT result before exceptional items as well as before VALUE 21 costs was a loss of 8 million euros compared to a loss of 15 million euros. Third quarter sales were 1.06 billion euros, down 7.9% from previous year.
“At the end of the third quarter, we had already, significantly sooner than originally planned, implemented ample measures to meet our VALUE 21 gross cost savings target of 500 million euros from 2022,” said Aldo Kamper, CEO of Leoni AG.
European Economics Preview: Eurozone Final PMI Data Due
Final Purchasing Managers’ survey results from euro area and other major European economies are due on Wednesday, headlining a light day for the European economic news.
At 3.00 am ET, Spain’s unemployment data is due for October. The number of registered unemployed decreased by 26,329 or 0.69 percent in September.
At 3.15 am ET, IHS Markit is slated to issue Spain services PMI data. The services index is seen falling to 40.0 in October from 42.4 in September.
At 3.45 am ET, Italy’s services PMI data is due. Economists forecast the services PMI to drop to 47.0 in October from 48.8 a month ago.
Thereafter, final PMI survey results are due from France and Germany at 3.50 am and 3.55 am ET, respectively.
At 4.00 am ET, Eurozone final PMI survey data is due. According to flash estimate, the composite output index fell to a four-month low of 49.4 in October from 50.4 in September.
Half an hour later, IHS Markit releases UK final CIPS composite PMI data. The final reading is seen at 52.9 in October, unchanged from flash estimate.
At 5.00 am ET, Eurozone producer price figures are due. Economists forecast the producer prices to fall 2.4 percent on year in September, following a 2.5 percent decrease in August.
Herald morning quiz: November 13
Test your brains with the Herald's morning quiz. Be sure to check back on nzherald.co.nz at 3pm for the afternoon quiz.
Stock Alert: Penumbra Down 5% Despite Partnership With RapidAI
Shares of healthcare company Penumbra, Inc. (PEN) are losing more than 5 percent or $13.46 in Tuesday’s morning trade at $229.00.
Tuesday, Penumbra said it has formed a new partnership with RapidAI to develop solutions to enable faster clinical decision-making for pulmonary embolism or PE diagnosis and procedures. RapidAI offers a data-driven artificial intelligence or AI platform that empowers clinicians to make faster, more accurate diagnostic and treatment decisions for stroke and aneurysm patients.
Penumbra said it will work with RapidAI to develop several clinical and communications modules for pulmonary embolism, which is a deadly condition involving blood clots in the lungs. The modules are intended to streamline triage and decision-making by processing CT scans and delivering clear, easy-to-interpret CT images directly to the physician.
U.S. stocks are mixed on Tuesday as traders continued to cycle out of tech stocks that benefited from the coronavirus pandemic and into cyclical stocks that struggled. The shift comes as upbeat news about a coronavirus vaccine being developed by Pfizer and BioNTech generated optimism business may return to normal next year.
Penumbra has traded in a range of $121.80 to $277.00 in the past 52 weeks.