UK House Prices Grow Most Since 2004: Nationwide

Pre-market Movers: ACST, TENX, GMTX, EYES…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 4.40 A.M.)

In the Green

Acasti Pharma Inc. (ACST) is up over 27% at $0.69

Tenax Therapeutics Inc. (TENX) is up over 14% at $2.18

SeaChange International Inc. (SEAC) is up over 30% at $1.43

Alzamend Neuro Inc. (ALZN) is up over 8.93% at $9.15

Globalstar Inc. (GSAT) is up over 7.53% at $2.00

In the Red

Gemini Therapeutics Inc. (GMTX) is down over 28% at $6.98.

Second Sight Medical Products, Inc. (EYES) is down over 18% at $5.20

Torchlight Energy Resources, Inc. (TRCH) is down more than 11% at $6.22

Alfi Inc. (ALF) is down over 11% at $14.39

AbCellera Biologics Inc. (ABCL) is down nearly 10% at $19.97.

Dixons Carphone Posts FY Profit

Dixons Carphone plc (DC.L) reported that its profit after tax for the year ended 1 May 2021 was 12?? million pounds or 1.0???? pence per share compared to a loss of 163 million pounds or 14.1 pence per share in the previous year.

“The start of the financial year has seen continued strong trading in all our markets and I’m more confident than ever in our prospects,” said Alex Baldock, Group Chief Executive.

Profit before tax was 33?? million pounds compared to a loss of 140 million pounds in the previous year.

Revenues grew to 10.34 billion pounds from 10.17 billion pound last year.

The company is restarting the payment of dividend to shareholders. It has proposed full year dividend of 3.0 pence per share.

Trader Joe’s Dark Chocolate Almond Butter Cup Recalled

Allentown, Pennsylvania -based Bazzini LLC is recalling certain Trader Joe’s Dark Chocolate Almond Butter Cups as they may contain peanut protein, according to the U.S. Food and Drug Administration.

The recall involves the product in three lot codes, and the sell by date codes are APR 05 2022, APR 06 2022, and APR 07 2022. The affected product comes in a 1.4 ounce package and was distributed across the United States.

The label states that the product “May contain traces of … peanut,”, still the company has removed all potentially affected product from sale following reports of allergic reactions.

The agency noted that people who have an allergy or very severe sensitivity to peanuts may get serious or life-threatening allergic reaction if they consume this product.

The company urged consumers who have these products to return them to the Trader Joe’s location where they were purchased for a full refund.

In similar recalls, Sara Lee Frozen Bakery in May recalled specific lots of select Sara Lee, Chef Pierre and Devonshire pecan pies and Fayetteville, Arkansas -based Natural Way recalled its 16 ounce jars of original almond butter, both for undeclared peanut.

Prineville, Oregon-based Creative Foods Inc. in mid April called back Bueno Coffee Substitute Creamy Hazelnut, which contains undeclared peanut and hazelnut; and Bueno Coffee Substitute Pecan Praline, which contains undeclared peanut and barley that has gluten.

Didi Global Prices IPO Of 317 Mln ADS At $14/Shr; Raises $4.4 Bln

Chinese ride hailing company Didi Global Inc. raised $4.4 billion in its U.S Initial public offering or IPO, Bloomberg reported citing people familiar with the matter.

The company priced the shares at the top of its indicated range and also increased the number of shares sold. The increase reportedly was after the Didi investor order book oversubscribed multiple times.

Didi sold 317 million American Depository Shares or ADS at $14 per share, compared to the planned sale of 288 million shares.

Didi is now valued at about $73 billion on a fully diluted basis, while it will be worth $67.5 billion on a non-diluted basis.

The company is expected to debut on the New York Stock Exchange on June 30.

Civitas Social Housing FY Profit Down

Civitas Social Housing Plc. (CSH.L) reported that its profit for the year ended 31 March 2021 declined to 36.08 million pounds or 5.80 pence per share from 37.73 million pounds or 6.06 pence per share in the previous year.

Annual rental income was 47.8 million pounds, a 4% increase from last year.

The company has raised the dividend target for the coming year to 5.55 pence per share, an increase of 2.7%.

The company has met the stated dividend target of 5.40 pence per share for the year to 31 March 2021 and the Board has set a new dividend target of 5.55 pence per share for the year to 31 March 2022.

UK House Prices Grow Most Since 2004: Nationwide

UK house prices grew at the fastest pace in more than six years in June largely due to the low base of comparison, data from the Nationwide Building Society showed on Tuesday.

House prices grew 13.4 percent on a yearly basis in June, the biggest outturn since November, 2004. Economists had forecast prices to climb 13.7 percent after rising 10.9 percent in May.

While the strength is partly due to base effects, with June last year unusually weak due to the first lockdown, the market continues to show significant momentum, Robert Gardner, Nationwide’s chief economist, said.

Month-on-month, house price growth eased to 0.7 percent in June from 1.7 percent in May. Prices in June were almost 5 percent higher than in March.

Despite house prices rising to new all-time highs, mortgage payment is not high by historic standards, largely because mortgage rates remained close to record lows.

Underlying demand is likely to remain solid in the near term as the economy unlocks, Gardner said. Improving consumer confidence, low borrowing cost combined with the lack of supply on the market suggested further upward pressure on prices.

Nevertheless, underlying demand is likely to soften around the turn of the year if unemployment rises as most analysts expect, as government support schemes wind down, added Gardner.

In the second quarter, there were a considerable pick up in overall house price growth. House prices advanced 3.7 percent sequentially and by 10.3 percent from the last year.