Certain industries have reduced their presence and or reliance on the Chinese market in 2023, but Big Pharma isn’t one of them, according to reporting from the Wall Street Journal.
The company’s aging population, an increasing share of the which is living with a chronic lifestyle disease, makes for an attractive market. China also boasts a wealthier middle class that cares more about health, per reports.
Shares of Applied Digital popped Monday as strong demand for its data center services led to impressive full-year guidance for fiscal 2024.
For the fourth quarter of fiscal 2023, the company posted revenue of $22.04 million, compared to Street expectations of $22.68 million, and a loss of $0.07 per share, compared to expectations of $0.05 loss.
After a third quarter earnings beat driven by the strong performance of its cloud division, investors will be hoping Microsoft can again top expectations when it reports its fourth quarter and full-year fiscal 2023 earnings on Tuesday, July 25.
Analysts, on average, expect the company to report fourth quarter revenue of $55.36 billion and earnings per share (EPS) of $2.54, according to Zacks Consensus Estimate.
Google’s parent company Alphabet is set to kick off Big Tech earnings season when it hands down its latest quarterly earnings on Tuesday, July 25.
Investors will be looking out for any mention of the company’s artificial intelligence (AI) push, specifically how it is integrating AI into its search offering, and the impact of its ongoing cost-cutting measures, which included reducing its headcount by thousands.
Investment bank Goldman Sachs (NYSE:GS) forecasts the Brent crude price will increase from just above $80 per barrel currently to $86 per barrel by year-end, buoyed by record demand in oil markets.
“We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an all-time high,” Goldman’s head of oil research Daan Struyven said in a recent media interview, as reported by CNBC.
Meta Platforms is expected to report its second-quarter earnings results after the closing bell on July 27, when investors will watch for progress on CEO Mark Zuckerberg’s “Year of Efficiency."
The social media titan is expected to post revenue of $31.12 billion, compared to $28.82 billion a year earlier, and earnings of $2.91 per share, compared to $2.47.
Kodiak Sciences shares fell by more than 45% after the biopharmaceutical company announced that it was discontinuing its tarcocimab program for eye disorders.
The company’s decision comes as its Phase 3 studies for its novel antibody biopolymer conjugate tarcocimab tedromer in patients with diabetic macular edema failed to meet their primary efficacy endpoints.
Microsoft Corporation (NASDAQ:MSFT) will report earnings after the bell Tuesday, which analysts at Wedbush say offers “no better barometer” of the cloud and enterprise sector.
In a note to clients, Wedbush reiterated its Outperform rating and $375 price target. Shares of Microsoft were little changed Monday afternoon at $344.02.
It’s a big week for the tech sector as heavyweights including Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOG) and Meta Platforms Inc (NASDAQ:FB), among others, prepare to unveil their second-quarter results.
Following a robust performance in the first half of 2023, analysts at Wedbush believe the Street now needs to see what the “AI Revolution” holds for the sector heading into the remainder of the year and 2024.
Chevron shares added more than 3% after the oil and gas giant released preliminary second quarter results that topped the Street’s expectations.
The company said it made a profit of $6 billion for the quarter, or earnings per share of $3.20.
Depressed copper prices are taking a bite out of small- and mid-cap miners and explorers, according to reports, which in turn has made many such companies prime acquisition targets for bigger players in the sector.
Copper prices peaked in early 2022 but tumbled over the course of the year and still haven’t fully recovered. That has forced some firms to trim their exploration budgets and many others to seek cash infusions from potential buyers.
Cloud DX (TSX-V:CDX, OTCQB:CDXFF) said it expects to double its sales in 2023 over 2022 with 20 new contracts or contract expansions announced so far this year.
The company noted this achievement with its announcement of a contract with a leading network of 12 primary care clinics in Western Canada to provide Cloud DX (TSX-V:CDX, OTCQB:CDXFF)’s Connected Health remote patient monitoring platform in the region.
Worldcoin, a new cryptocurrency token and digital identification project co-founded by OpenAI chief Sam Altman, soared following its launch on Monday.
The token is listed on a number of cryptocurrency exchanges including Binance, but it is unavailable to trade in the U.S. due to regulatory restrictions.
Avalon GloboCare Corp (NASDAQ:ALBT) announced that Laboratory Services MSO, in which the company holds a 40% interest, has acquired DE Laboratory LLC.
The Houston-based lab expands LSM’s market penetration in Texas and provides a wide range of high-quality testing, including drug testing, genetic testing, urinary testing and COVID-19 PCR testing, according to a statement.
Global Energy Metals said it intends to close its previously announced non-brokered private placement upon TSX Venture Exchange approval for gross proceeds of C$316,561.
The proceeds will be used for project evaluation and for working capital and general corporate purposes, the company said.
TC Energy Corporation told investors it has entered into a deal to monetise a 40% interest in its Columbia Gas Transmission (Columbia Gas) and Columbia Gulf Transmission (Columbia Gulf) systems.
The company announced in a statement that the two units will be held in a new joint venture (JV) partnership with private equity firm Global Infrastructure Partners (GIP), which will pay C$5.2 billion (US$3.9 billion) in cash for the 40% stake.
Aurora Cannabis’ CEO Miguel Martin's annual salary rose about 38% to $6.7 million in the 2023 fiscal year even as the cannabis company’s shares tanked and it deployed cost-cutting measures.
Martin earned a base salary of about $590,500, plus $3.8 million in share-based options and about $1.1 million in option-based awards, according to media reports citing financial filings from the company.
Gamelancer Media Corp. (TSX:GMNG, OTCQB:GAMGF) has finalized a joint venture agreement with women's lifestyle and beauty company 10 PM Curfew, the company announced.
The collaboration is intended to give each company unique access to the other’s audience and inventory.
Johnson & Johnson (NYSE:JNJ) (J&J) has launched a share exchange offer for its former consumer health business Kenvue which completed its initial public offering in May.
Shareholders of J&J can opt to exchange some or all of their shares for Kenvue stock at a 7% discount, subject to certain conditions, the company announced on Monday.
AMC Entertainment Holdings (NYSE:AMC) shares surged by more than in third in Monday pre-market trading after a court rejected a deal that would have converted its preferred equity units (APEs) into common stock through the issue of more shares.
Reuters reported that Delaware Vice Chancellor Morgan Zurn said in the ruling that she cannot approve the deal, which would provide AMC common stockholders with shares worth an estimated $129 million, because it would also settle potential claims by preferred shareholders who were not represented in the lawsuit.
Transition Metals Corp (TSX-V:XTM) told investors it has commenced a comprehensive remote sensing program on its Pike Warden project near Whitehouse in Yukon.
In a statement, the Sudbury, Ontario-based explorer said the program comprises hyperspectral and LiDAR surveys, with PhotoSat carrying out hyperspectral mapping and Pioneer Exploration Consultants conducting a property-wide LiDAR survey, employing state-of-the-art light detection and ranging technology to generate precise three-dimensional elevation maps of the project area, inclusive of orthophotograph.
Electra Battery Materials Corporation (TSX-V:ELBM, NASDAQ:ELBM) said its battery-grade cobalt supply agreement with LG Energy Solution has been extended and expanded from terms initially announced in September 2022.
“LG Energy Solution continues to strengthen its position as a global leader in the electric vehicle supply chain through its investments in Ontario and active collaboration with Canadian companies developing critical minerals and battery materials,” Trent Mell, CEO of Electra, said in a statement.
Los Andes Copper Ltd (TSX-V:LA) said it has entered into a royalty agreement with UK-listed Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) for a total cash consideration of US$20 million.
The royalty is calculated over the sale of all minerals produced from the company's Vizcachitas Project in Chile. Ecora will receive royalty payments calculated as 0.25% Net Smelter Royalty (NSR) on minerals sold on open pit operations and 0.125% NSR on underground operations.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXF) shares shot up by around 20% in Monday morning's early deals as the AIM-quoted firm advanced a partnering process that promises to trigger the development of its Cole Creek property in Wyoming by signing a letter of intent (LOI).
The LOI starts a period of exclusivity with the potential partner, which is not named in the statement, and follows talks under a non-disclosure agreement since October.
Forward Water Technologies Corp said it has issued a total of 410,909 common shares in the capital of the company in settlement of compensation to Agora Internet Relations for certain advertising services provided by Agora to the company over the last six months. Forward Water president and chief executive officer, Howie Honeyman commented: "Agora has demonstrated its value as a partner throughout the past six months. We are thrilled to have their services to further our expansion in the clean technology sector."
Tantalex Lithium Resources Corp said it has completed a second tranche closing of a non-brokered private placement for gross proceeds of $299,999.81. Under the placement, the company has issued 2,727,271 common shares at a price of 11 cents per common share of the corporation. The proceeds of the private placement will be used for general working capital purposes.
OTC Markets Group Inc, the operator of regulated markets for trading 12,000 US and international securities, has announced that Talen Energy Corporation has qualified to trade on the OTCQX Best Market and has today upgraded from the Pink market under the symbol TLNE. The OTCQX Market provides investors with a premium US public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
American Resources Corporation announced that its CEO Mark Jensen and CFO Kirk Taylor along with Advanced Magnet Lab, Inc (AML) executives Mark Senti and Wade Senti will present at the Virtual Investor Spotlight on Advanced Magnet Lab on July 27, 2023, at 11 AM EDT. AML has developed PM-Wire, a unique technology for the design, manufacture and optimized performance of permanent magnets and their end-use applications. Magnets are at the heart of the products and applications essential to modern society. It is the magnets which enable electricity, manufacturing, processing of goods, movement of water, tools for construction and transportation. AML's technology provides significant value propositions for electrical machines, motors, and generators - all driven by magnets. As part of the event, members of the American Resources and Advanced Magnet Lab management teams will discuss their rare earth oxide offtake agreement to provide AML high-purity raw rare earth elemental feedstock for their advanced, domestic magnet production. In addition to the moderated discussion, investors and interested parties will have the opportunity to submit questions live during the event. The company will answer as many questions as possible in the time allowed.
A live video webcast of the presentation will be available on the Events section of the Investors page of the company's website (www.americanresourcescorp.com). A webcast replay will be available two hours following the live presentation and will be accessible for 90 days.
PyroGenesis Canada Inc said it has closed its previously announced ‘best-efforts’ brokered private placement offering of 3,030 unsecured convertible debenture units of the company at a price of C$1,000 per debenture unit, for aggregate gross proceeds of C$3,030,000. In connection with the offering, P. Peter Pascali, president and CEO of PyroGenesis Canada subscribed for C$2,000,000 of convertible debenture units. The company said it intends to use the net proceeds for working capital and general corporate purposes. Each convertible debenture unit will consist of one 10.0% unsecured convertible debenture with a maturity of 36 months from the date of issuance and 1,000 common share purchase warrants. Each warrant shall entitle the holder to acquire one common share at an exercise price of C$1.25 for a period of 24 months following the closing date. The convertible debentures shall bear interest at a rate of 10.0% per annum from the date of issue, payable semi-annually in arrears on the last day of June and December in each year, at the sole discretion of the company.
Electric Metals (USA) Limited (EML) announced that it has elected to accelerate the expiry date of the common share purchase warrants issued on January 5, 2023, to a new expiry date of August 24, 2023. The warrants were issued in connection with a brokered private placement financing of 21,212,000 common shares of EML and 21,212,000 warrants, which closed on January 5, 2023. Any warrants that have not been exercised by 5 PM EDT (Toronto time) on the accelerated expiry date will automatically be cancelled and of no further force or effect. Each warrant entitles the holder to purchase one common share of the company at a price of $0.25. If all warrants issued in the financing are exercised, gross proceeds to the company will total $5,303,000; however, there can be no assurances that all, some, or any, warrants will be exercised prior to the accelerated expiry date.