Nike shares jumped in after-hours trading on Tuesday after the athletic apparel company posted third quarter fiscal 2023 results that beat expectations on the top and bottom lines.
For the quarter ended February 28, 2023, the company achieved revenue of $12.4 billion, up 14% from $10.9 billion in the year-ago quarter and about $1 billion higher than the Street’s expectation of $11.48 billion.
GameStop Corp (NYSE:GME), the former face of meme stocks, is once again headed in the moon’s general direction after posting fiscal fourth-quarter results that outpaced expectations.
The videogame retailer swung to its first quarterly profit in two years, posting earnings of $0.16 per share in the period ended January 28, compared to a loss of $0.49 per share a year earlier and easily beating Street expectations of a $0.13 per share loss.
First Majestic Silver Corp shares sank 23% to $7.87 on Tuesday after the silver and gold producer with operations in Mexico and the US announced that it is taking action to reduce overall costs by paring investments, as well as temporarily suspending all mining activities and reducing its workforce at the Jerritt Canyon Gold Mine in Nevada, effective immediately.
First Majestic said since acquiring the mine 22 months ago, its efforts to increased underground mining rates in order to sustainably feed the processing plant at a minimum of 3,000 tonnes per day in order to generate free cash flow have failed.
Winnebago Industries (NYSE:WGO) investors along for the ride will be watching for whether the motorhome manufacturer can beat Street expectations once again when it reports fiscal second-quarter earnings before the bell on Wednesday.
The Forest City, Iowa-based company has topped analyst projections on the top and bottom lines for each quarter for the past two years.
Tesla Inc (NASDAQ:TSLA) is now a blue chip stock from a corporate debt perspective after Moody’s Investors Service upgraded the EV maker’s credit rating from junk status to investment-grade quality.
Moody’s analysts upgraded Tesla’s credit rating to Baa3, the first rung on its investment-grade ladder, from Ba1, its top rating for high-yield corporate debt.
Goldman Sachs (NYSE:GS) has slashed its crude oil price forecasts for 2023 and 2024, citing the recent decline in oil prices as banking and recession fears have seen investor flows dry up.
The investment bank now expects oil to average $94 a barrel in the next 12 months and $97 in the second half of 2024, down from its previous forecast of $100.
ION Energy Ltd. (TSX-V:ION, OTCQB:IONGF) told investors that water well drilling at UNWH-03, the third water well at its 100%-owned Urgakh Naran project in Mongolia, has now been completed to a depth of 300 meters (m), with a six-inch tricone bit, four-inch steel slotted pipes and gravel packed.
Updating the market on the progress of the water well drilling, Mongolia's first lithium brine explorer and developer said its team has now deployed the Solinst pumps, bailers and various hydrogeological testing equipment on site, to ensure that brine samples will be collected from the three water wells for analysis in the coming week.
Regional and community banks are increasingly advocating for the Federal Deposit Insurance Corporation (FDIC) to insure all bank deposits in order to prevent bank failures like the ones faced by Silicon Valley Bank and Signature Bank.
The FDIC currently insures up to $250,000 per depositor, leaving higher values vulnerable to bank failure. The SVB crisis led regulators to offer systemic risk exceptions to it and Signature Bank to insure all deposits, even those about the threshold.
Canada's inflation rate cooled to 5.2% in February, the largest deceleration since April 2020, data showed on Tuesday, backing the central bank's plans to hold off on further interest rates hikes.
According to Canada’s national statistics office, the consumer price index in February was up 5.2% compared with a year earlier. The reading stacked up favourably with an annual inflation rate of 5.9% in January and was the lowest annual inflation rate since January 2022 when it was 5.1%.
Adidas is out and Fanatics is in as the official uniform supplier of the National Hockey league starting with the 2024-2025 season.
The NHL and Fanatics signed a 10-year deal, the league announced Tuesday, marking the first time the Fanatics logo will appear on a professional sports uniform.
Algernon Pharmaceuticals Inc announced that it is undertaking a rights offering to raise gross proceeds of approximately $2,416,747.
The Canadian clinical stage pharmaceutical development company said will be offering 9,666,988 rights to holders of its Class A common shares at the close of business on the record date of March 29, 2023, on the basis of one right for each share held, with each right entitling the holder to subscribe for one Algernon Pharmaceuticals unit at the subscription price of $0.25 per unit.
Google has sounded the alarm over potential malware on several apps made by Chinese ecommerce giant Pinduoduo.
The Play Store operator alerted the users of multiple Pinduoduo apps and suspended the company’s official app.
Credit Suisse staff have been inundating recruiters with calls seeking out new job opportunities as the embattled bank prepares to be taken over by its rival UBS.
Recruiters from Singapore to Hong Kong and London have been fielding calls in recent days from Credit Suisse staff, according to a Bloomberg report citing people from more than a dozen firms with knowledge of the matter.
Elon Musk is calling for an interest rate hike on — where else — Twitter.
The mercurial CEO replied to a tweet from billionaire Bill Ackman, calling for a rate reduction of 50 basis points.
NV Gold Corporation (TSX-V:NVX, OTC:NVGLF) told investors that a technical update for its 100%-owned Slumber gold project in Nevada’s Humboldt Country has identified an estimated exploration target of 150,000 to 450,000 ounces of gold.
The company noted that the potential ounces at Slumber, which is located 80 kilometers (km) northwest of Winnemucca, and 37 km west of the Sleeper gold deposit, were modelled by geologist Jesse Wellman, with the result that it has successfully delineated a substantial near-surface, oxide gold system at the property.
Analyst at Bank of America Corp (NYSE:BAC) have upgraded their rating and price target on UBS after it was revealed the investment bank would be buying troubled lender Credit Suisse.
The analysts upgraded their price target from ‘Neutral' to ‘Buy’ and upped their price target from 21 CHF to 23 CHF. UBS shares were trading up 8.3% at 18.75 CHF on Tuesday afternoon in Zurich.
Baru Gold Corp. (TSX-V:BARU) said it has closed the second tranche of the $2.25 million financing it announced on February 21, 2023, raising $223,650 by issuing 7,455,000 units.
The total private placement consists of up to 75,000,000 units priced at $0.03 per unit. The proceeds raised will be used for immediate working capital commitments at the Sangihe Gold project.
First Republic Bank shares rocketed on Tuesday after the Wall Street Journal reported that JPMorgan Chase CEO Jamie Dimon is leading discussions with other bank chiefs about a rescue plan for the bank.
Dimon, a veteran of previous banking rescues (Bear Stearns and Washington Mutual in 2008), held talks with the chief executives of other major banks about how to shore up First Republic’s finances.
Numinus Wellness Inc announced that its chief clinical officer Reid Robison has contributed to studies published in four peer-reviewed papers thus far in 2023 with his work in the treatment of mental health disorders including Post-Traumatic Stress Disorder (PTSD), depression and anxiety.
"Dr Reid Robison continues to make key contributions to the study of new and innovative treatments for mental health disorders,” CEO Payton Nyquvest said in a statement. “With his work published in peer-reviewed journals such as the Journal of Psychoactive Drugs, Frontiers in Psychiatry, Brain Sciences and Journal of Psychedelic Studies, our industry is gaining further validation as new treatments are on track to becoming viable healing options for the large patient population in need.”
Torr Metals (TSX-V:TMET) Inc reported promising results and preliminary interpretations from a 6.4-square-kilometer (km2) induced polarization geophysical survey done in late-2022 over the Dalvenie Zone at the company’s Latham project in British Columbia.
The company’s 689 square km Latham project, which lies in the prolific Golden Triangle of northern British Columbia, hosts the Dalvenie Zone. The Dalvine Zone itself is 8 km south of the company's Gnat Pass Copper-Gold Porphyry deposit and is road-accessible by a 2km gravel road from Highway 37.
Gamelancer Media Corp. (CSE:GMNG, OTCQB:GAMGF) told investors that its owned and operated 44-channel network spanning TikTok, Snapchat, and Instagram, has surpassed 38 million followers, a 42% year-over-year increase, and continues to experience meteoric growth at a rate of over 1.5 million new followers every month.
The company noted that the extensive network presents incomparable and unique opportunities for brands, agencies, and creators looking to connect with Gen Z and Millennial audiences, adding that it offers full production services and exclusive access to its extensive under-40 audience.
East Side Games Group (TSX:EAGR, OTCQB:EAGRF) announced that its studio and recent game release Star Trek: Lower Decks – The Badgey Directive, have both been shortlisted for the Mobile Game Awards.
East Side Games has been shortlisted in the Best Developer category of Pocket Gamer's Mobile Game Awards. Star Trek: Lower Decks – The Badgey Directive, which was developed in partnership with Paramount Consumer Products and Mighty Kingdom and released in September, has been shortlisted in the Best Storytelling category.
Cabral Gold Inc (TSX-V:CBR) said it has closed its previously announced, non-brokered private placement, which was oversubscribed by $790,000, raising gross proceeds of $2.79 million by issuing 27.9 million company units at a price of $0.10 per unit.
The junior resource firm said it intends to use the net proceeds from the offering for payment of outstanding debts, possibly including amounts due to management of the company, general working capital purposes, and, if the proceeds of the placement are sufficient, exploration and development activities.
PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) has received an order from the US Navy’s shipbuilder, Newport News Shipbuilding, for three waste-destructing plasma torches, the company announced.
The three plasma torches ordered are for the USS Gerald R Ford aircraft carrier, considered the largest warship ever built and valued at roughly $13 billion. The torches will be used in PyroGenesis’ proprietary Plasma Arc Waste Destruction System (PAWDS) that the company previously built and delivered to the US Navy.
Global Energy Metals Corp (TSX-V:GEMC) (GEMC) has said its strategic partner, Metal Bank Ltd (MBK), has released a JORC 2012 Mineral Resource Estimate (MRE) update for the Millennium copper-cobalt-gold (Cu-Co-Au) project, in which it GEMC holds a 49% carried interest.
Located in approximately 35 kilometres (km) WNW (WestNorthWest) of Cloncurry in North Queensland, Australia, the MRE indicates that Millennium has 8.4 million tonnes (Mt) of resources at 0.09% Co, 0.29% Cu and 0.12 grams per ton (g/t) Au for a 1.23% CuEq.
Sidus Space Inc (NASDAQ:SIDU) has announced an agreement with SatLab to implement its second-generation automated identification system (AIS) technology into the company’s LizzieSat satellite constellation.
The company explained that AIS technology uses sophisticated systems on board marine vessels to identify and track ships to prevent collisions and protect life at sea. Integrating this technology into its satellites will enable more accurate vessel tracking and monitoring while providing valuable information about ship movements in real-time, it added.
JPMorgan Chase & Co (NYSE:JPM) and Deutsche Bank AG (NYSE:DB) must face lawsuits alleging that they knowingly enabled Jeffrey Epstein’s sex trafficking, a US judge has ruled.
The decision handed down by US District Judge Jed Rakoff in New York on Monday could expose the two banks to further financial and reputational damage for their relationships with client Epstein.
ACME Lithium Inc. (CSE:ACME, OTCQB:ACLHF) revealed that it has expanded its lithium project by staking 63 new claims (FLV 3 claims) encompassing around 1,295 acres (524.07 hectares) contiguous to the south and east of the company's Fish Lake Valley project in Esmeralda County, Nevada.
With the additional ground, ACME's total number of claims in the area have increased to 207 totaling approximately 4,002 acres. The Carson City, Nevada-based mineral exploration company said that the claims are pending final approval from the Bureau of Land Management (BLM).
Fobi AI Inc (TSX-V:FOBI, OTCQB:FOBIF) revealed that it has been granted a US patent for its IoT (Internet of Things) hardware.
In a statement, Rob Anson, CEO of Fobi, commented: “We have developed extremely valuable tech and continue to work hard to protect that technology and keep the product moat that we have created as visionaries and early movers.
CULT Food Science Corp (CSE:CULT, OTCQB:CULTF) has announced the closing of a non-brokered private placement led by international family offices under which the company issued 13,495,700 units at a price of $0.10 per unit for aggregate gross proceeds of $1,349,570.
Each unit is comprised of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at an exercise price of $0.20 for a period of two years from the date of issuance.
Avicanna Inc (TSX:AVCN, OTCQX:AVCNF) said it has closed a non-brokered private placement offering of 3,096,230 units at a price of $0.40 each for aggregate gross proceeds of approximately $1.24 million.
The company intends to use the proceeds from the offering for general working capital purposes, general and administrative expenses, expenditures related to production and manufacturing, and research and clinical development.
Terran Orbital (NYSE:LLAP) has reported record revenues for its 2022 financial year as it delivered a record 19 satellites, including 10 for the Transport Layer of the Space Development Agency (SDA).
Releasing results for the three and 12 months ended December 31, 2022, the company also highlighted a $100 million investment from Lockheed Martin and an extended Strategic Cooperation Agreement to 2035.
Predictmedix Inc. (CSE:PMED, OTCQB:PMEDF) announced that the US Patent Office has granted the company a patent (United States Patent Application Number: 16/892,369) for its artificial intelligence (AI)-powered technology for the non-invasive detection of impairment caused by alcohol and/or cannabis.
The patented technology uses multispectral imaging and speech analysis to identify and extract features from an individual, allowing the technology to determine whether the individual is exhibiting signs associated with impairment. The technology is part of the company's Fit for Duty screening solutions, which provide contactless and bias-free screening for impairment, extreme fatigue, and infectious diseases.
PowerTap Hydrogen Capital Corp. (NEO:MOVE.AQN, OTC:MOTNF), which is focused on installing hydrogen production and dispensing fueling infrastructure in the US together, has provided an update on its activities and those of its subsidiary PowerTap Hydrogen Fueling Corp.
In conjunction with the efforts of its technology partner T2M Global to validate PowerTap’s Gen3 Modular Hydrogen Production and Dispensing Units (MHPDU) technology and provide final engineering toward deployment of the units, the company said it is exploring implementing digital twins for each MHPDU deployment “to considerably enhance remote monitoring and testing capabilities further advancing PowerTap at the leading edge of hydrogen fuel station technology”.
Victory Battery Metals Corp (CSE:VR, OTC:VRCFF) said it has started its second phase drilling program on its Smokey Lithium Property in Nevada, with completion anticipated within a 2-to-3-week period depending on weather conditions.
Victory's second phase 3-hole drill program includes high-quality drill targets, seeking to extend strong lithium mineralization intersected previously on hole 09, which ended in significant, claystone-hosted, lithium mineralization at 417 feet.
Kodiak Copper Corp. (TSX-V:KDK) has said it is mobilizing staff to the MPD copper-gold porphyry project in Southern British Columbia to start the 2023 Exploration Program on its 100% owned project.
In a statement, Claudia Tornquist, president and CEO of Kodiak commented: "I am looking forward to embarking on another significant drill and exploration program in 2023 to further unlock the potential of the large, multi-centered porphyry system at MPD.
Looking Glass Labs (LGL) said it has entered into a letter of intent (LOI) to sell the GenX smart contract and all associated intellectual property to GenZeroes Productions Inc.
The company explained that GenZeroes Productions owns and produced a live-action series consisting of live-action episodes and comics in the science fiction genre, with lore that includes references to the GenX collection — a collection of robot characters created by artists.
Empower Clinics Inc. (CSE:EPW, OTCQB:EPWCF) said it has commenced a process to explore and evaluate strategic options to enhance and preserve shareholder value with the engagement of Haywood Securities Inc as the company's strategic financial advisor.
"Maximizing shareholder value is a priority and to that end, throughout late 2022 and during Q1 2023, Empower has been aggressively cutting costs and focusing its business lines and initiatives with the goal of accelerating our timeline to achieving profitability,” said Steven McAuley, chairman & CEO of Empower in a statement.
Nevada Copper Corp (TSX:NCU, OTC:NEVDF), the owner of the Pumpkin Hollow copper project in Nevada which has substantial reserves and resources including copper, gold and silver, said it has filed its financial statements for the year ended December 31, 2022.
“We continue to make excellent progress on the construction projects that are required ahead of stope mining and milling activities at Pumpkin Hollow. The vent shaft stripping and excavation for the ore handling system are well underway,” Randy Buffington, Nevada Copper president & CEO said in a statement.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) - formally Nextech AR Solutions Corp - said it has filed its second in a series of patents for converting 2D photos to 3D models.
This second patent builds on the company’s previously filed patents. Earlier this month, a patent was filed titled 'Generative AI for 3D Model Creation from 2D Photos using Stable Diffusion with Deformable Template Conditioning', and late last year the company filed a patent for creating complex 3D models by parts.
Prospector Metals Corp. (TSX-V:PPP, OTCQX:ETHOF) said it has increased the size of its previously announced non-brokered private placement of flow-through (FT) units to now raise aggregate gross proceeds of up to $1.145 million, up from an initial $1.00 million, as a result of demand.
The offering will still consist of Ontario charity flow-through (FT) units offered at a price of 28 cents per charity FT unit and Ontario flow-through (FT) units offered at a price of 21 cents per Ontario FT unit. Each charity FT unit and Ontario FT unit will be comprised of one flow-through common share and one-half of one non-flow-through common share purchase warrant. Each warrant will be exercisable at a price of $0.30 into one common share for a period of two years from the date of issuance.
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) is excited to be advancing exploration offshore South Africa, chief operating officer Colin Kinley said in a statement, as the Block 3B/4B venture partners applied for environmental authorisation.
Alongside operating Africa Oil and its other partners, Eco is seeking to drill at least one well with another "contingent" well also pencilled in (albeit, they say potentially up to five further wells could be drilled) within the exploration block.
Galantas Gold Corp (AIM:GAL, TSX-V:GAL, OTCQX:GALKF) has increased the size of its previously announced non-brokered private placement to just over 7.6mln units at a price of C$0.36 per unit to raise approximately C$2.75mln.
Each unit will consist of one share and one warrant exercisable at C$0.55 per share.
NEXE Innovations Inc has said it intends to amend the terms of an aggregate of 8,625,000 outstanding common share purchase warrants issued in connection with a bought deal public offering that closed on April 9, 2021, which will reduce the exercise price from $2.50 to $0.65 per share and extend the expiry date by one year to April 9, 2024. The company said it believes that the repricing of the warrants increases the likelihood that shareholder value will be maintained should warrant holders choose to exercise their warrants at the reduced exercise price. In addition to being beneficial to shareholders, the company believes that these amendments to the warrants, which are currently "out of the money" by a significant margin and are expected to expire within a month hereof without ever being exercised, present only potential upside to holders of the warrants at no additional cost to such holders. While the company currently has sufficient capital to execute its business plan with working capital of $26,574,980 and cash and GICs on hand of $21,703,818 as of November 30, 2022, it believes that the proposed amendments are consistent with prudent financial planning in light of volatile and unpredictable capital markets. The company holds its cash positions with two of the five largest Canadian banks. The opportunity to extend warrants by one year will provide the company with an additional safeguard as production is expected to start shortly and the company is expecting co-packing and private label contracts to fill its capacity. NEXE is focused on commissioning its commercial operations. The warrants will also be amended to include a mandatory acceleration provision as required under the policies of the TSX Venture Exchange (TSXV). The terms of the warrants will remain otherwise unchanged.
Tiziana Life Sciences Ltd said it has been notified that Gabriele Cerrone, its chairman and acting chief executive officer, purchased 7,500 common shares of the company at $0.79 per share, bringing his total holding to 38,693,237 common shares.
Wishpond Technologies Ltd has announced that it will be hosting its inaugural Virtual Investor Day event on Tuesday, April 4, 2023 at 10.00am PT (1.00pm ET). Wishpond's senior management team will be presenting an overview of the company's business along with updates from business unit leaders, acquisition strategy, and future outlook. In addition, Lloyed Lobo, director of Wishpond and a renowned speaker and marketing technology visionary, will provide a presentation on the current trends in digital marketing. Registrants will also be able to view a product demo of Wishpond's recently launched next generation marketing technology platform, Propel IQ, as well as a showcase of Wishpond's new Artificial Intelligence (AI) powered Landing Page Builder. Registration is via the following link: https://investor.wishpond.com/investor-day-march-2023/
BioVie Inc has announced that data from its Phase 2 Parkinson’s Disease (PD) trial will be presented at the International Conference on Alzheimer’s and Parkinson’s Diseases and Related Neurological Disorders (AD/PD 2023), to be held March 28 – April 1, 2023 in Gothenburg, Sweden. Data from the company’s Phase 2 Trial evaluating NE3107 in Parkinson’s Disease will be presented orally during the symposium Advances in PD and LDB Diagnosis and Drug Development (ID#124). A poster presentation on the pharmacokinetic profile of NE3107 will also be given. Both the oral presentation and poster will be available virtually throughout the event. Details for the presentations are as follows:
Oral Presentation
Title - Safety, Tolerability, and Efficacy of NE3107 From A Phase 2, Double-Blind, Placebo-Controlled Study In Levodopa/Carbidopa-Treated Patients with Parkinson's Disease
Date/Time - Saturday, April 1, 4:00pm Local Time (Hall F1+F2+F3)
Presenter - Christopher Reading, PhD;
Poster Presentation
Title - Effect of NE3107 on the Pharmacokinetics Profile of Carbidopa/Levodopa in Patients with Parkinson’s Disease: A Phase 2, Double-Blind, Placebo-Controlled Study
Authors: Clarence Ahlem; Christopher Reading, PhD; Joseph Djan; Joseph Palumbo, MD