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Stock Guruâs fundamental ideas and daily newsletter remains one of the best at delivering information in financial markets, and strategic methods to assist you on your future investments.
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Now for a weekend roundup for this Saturday and what looks hot heading into next week.
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Market News
The uncertainty over the tax reform weighs on the market, but technically the market was prone for a pause as investor sentiment has been very optimistic for quite some time,â said Bruce Bittles, chief investment strategist at Robert W Baird.
âThe S&P isnât much lower than where it was last Friday, I wouldnât expect a major surprise to the downside as long as the interest rates in the long end of the curve behave.â
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Here are 3 Stocks that Popped on a red day, yesterday.
Despite reporting a first quarter loss, shares of Immunomedics, Inc. IMMU wereup 18 percent yesterday. The company reported a loss of $118.7 million in its fiscal first quarter. On a per-share basis, the New Jersey based company said it had a loss of 97 cents. Losses, adjusted for non-recurring costs, were 16 cents per share.
The biopharmaceutical company posted revenue of $690,500 in the period. Its adjusted revenue was $690,000. Immunomedics shares have nearly tripled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.44, more than quadrupling in the last 12 months
China based Orient Paper, Inc.ONP reached a gain of 66 percent yesterday after reporting financial Revenue decreased by 10.6% to $33.5 million, primarily attributable to a decrease in overall sales volume and partially offset by an increase in blended average selling prices ("ASPs") particularly for regular CMP and Light-Weight CMP that increased by 59.4% and 47.9%, respectively.
The decrease in sales volume was primarily due to the continued government-mandated restriction on production in compliance with environmental regulation and due to our replacement of outdated paper facilities.
Gross profit decreased by 1.5% to $7.2 million. Gross margin increased by 2.0 percentage points to 21.6%. The increase in gross margin was primarily related to CMP as a result of significant increase in ASP. Net income was $1.6 million, or $0.07 per diluted share, compared to $3.0 million, or $0.14 per diluted share, for the same period of last year.
Third quarter profits pops shares of Avid Technology, Inc. AVID 27 percent after reporting third-quarter net income of $72,000 and revenue of $105.3 million in the period. For the current quarter ending in December, Avid said it expects revenue in the range of $103 million to $113 million.
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Burger, fries and marijuana? Drive-thru opens at Las Vegas pot shop
Getting weed is now as easy as getting a cheeseburger and fries, thanks to a new drive-thru window installed at NuWu Cannabis Marketplace near downtown Las Vegas.
The recently-opened marijuana megastore opened its recreational marijuana drive-thru to the public Friday.
The converted, $30,000 bank vault window is outfitted with bulletproof glass.
The idea behind the drive-thru window wasnât simply about getting as many customers through the cash register as possible. The customers were asking for it.
But as with all recreational marijuana shops, there are strict rules for the drive-thru.
Every person in the car must be 21 and will have their IDs checked.
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Electronic Arts to Acquire Respawn Entertainment
Electronic Arts Inc. EA announced an agreement to acquire Respawn Entertainment, LLC, a leading independent game development studio and creators of AAA shooter and action games that include the critically-acclaimed Titanfall franchise.
Respawn brings to EA all of its leadership and studio talent that was behind Titanfall and Titanfall 2, two of the most highly-rated shooter titles in the last five years.
The acquisition builds on a successful publishing partnership between Respawn and EA with multiple projects currently in development that include a new title in the Titanfall franchise, a game set in the Star Wars universe and a VR gaming experience.
Under the agreement, EA will pay $151 million in cash, and up to $164 million in long-term equity in the form of restricted stock units to employees, which will vest over four years.
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North America & China Boost Adidas Third Quarter Sales
Adidas released its Q3 2017 earnings on Thursday, reporting sales growth of 9% and profit growth of more than 33%. Quarterly revenue of 5.67 billion euros was a miss compared to analyst expectations of 5.86 billion euros, which caused the stock to drop.
Adidas ADDYY brand sales rose 31% in the U.S. in the third quarter, and 17% globally (tempered by a drop in Russia, where competitors Nike and Under Armour are also seeing declines due to store closures and bad sentiment there).
The other big positives: Adidas brand grew 29% in China, and Adidas Group confirmed its full-year outlook for 2017, which it raised in July to sales growth of 17% to 19% and profit growth of 26% to 28%.
E-commerce revenue grew 39% in the quarter. As brick-and-mortar stores struggle, e-commerce has been a hit for Adidas since Adidas-lovers canât always find the products in stores anymore.
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