Full Stock Market News from 2024-11-22 (2024)

Stock Market Financial Results and Updates

Sunlands Technology Group (NYSE: STG) announced its Q3 2024 financial results. Net revenues fell 6.4% year-over-year to RMB491.3 million (US$70 million), with net income down to RMB89.3 million (US$12.7 million) from RMB131.6 million in Q3 2023. The company saw an uptick in new student enrollments from 154,299 to 158,395 year-over-year. It anticipates Q4 2024 net revenues between RMB450-470 million, signifying a year-over-year decline between 13.2%-16.9%. Read More

Qudian Inc. (NYSE: QD) reported strong Q3 2024 financial results with a total revenue increase of 85.9% year-over-year to RMB55.0 million (US$7.8 million). The company shifted from a net loss of RMB181.2 million to a net income of RMB131.9 million (US$18.8 million). The last-mile delivery business, Fast Horse, revenue rose to RMB53.5 million, compared to RMB28.6 million in Q3 2023. Liquidity remains robust with cash holdings at RMB4,847.0 million. Qudian continues its share repurchase efforts, having bought back 12.1 million ADSs. Read More

The Buckle, Inc. (NYSE: BKE) reported Q3 fiscal 2024 results with a net income of $44.2 million, or $0.89 per share. Despite a 3.2% decrease in net sales to $293.6 million, online sales grew by 1.1% reaching $46.6 million. Read More

Worksport (NASDAQ: WKSP) announces a 30% increase in manufacturing workforce to meet growing sales demand. The company aims to double its monthly online sales to $1 million from the current $500,000 reported less than 60 days ago. To support the end-of-year launch of the AL4 tonneau cover, Worksport is adding an evening production shift. The company reported Q3 revenue of $3.12 million, representing a 581% year-over-year increase. Looking ahead, Worksport plans to launch its SOLIS solar cover and COR portable energy system by Q2/Q3 2025, targeting cash flow positivity in 2025. Read More

MOGU Inc. (NYSE: MOGU) reported declining financial results for H1 FY2025. Total revenues decreased by 25.7% to RMB61.9 million (US$8.8 million). The company faced challenges including intense market competition, declining consumer purchasing appetite, and reduced KOL live streaming activity. GMV decreased by 34.3% to RMB1,442 million, while LVB-associated GMV fell by 34.7%. Operating loss improved to RMB41.4 million from RMB52.1 million year-over-year. The company is exploring new business opportunities through partnerships with fashion KOLs from other platforms and brand live-streaming management services. Read More

Trident Digital Tech Holdings (NASDAQ: TDTH) reported its H1 2024 unaudited financial results, showing total revenues of US$378,839, a 21.3% decrease from H1 2023's US$481,165. The company's net loss widened to US$1,927,027 from US$1,861,412 in the previous year, highlighting a strategic shift towards prioritizing Tridentity, their Web 3.0 e-commerce platform. The company completed its IPO in September 2024, offering 1,800,000 ADSs at US$5.00 per ADS. Gross profit margin decreased significantly from 19.0% to 4.9% year-over-year. Read More

Click Holdings (NASDAQ: CLIK), a Hong Kong-based HR solutions provider, reported strong financial results for H1 2024. The company achieved total revenue of $3.2 million, marking a 14.3% increase, and net income of $0.5 million, up 25% from $0.4 million in H1 2023. Revenue breakdown by sector: Professional solution services contributed 31.7% ($1.0M), Nursing solution services 21.3% ($0.7M), and Logistics services 47% ($1.5M). The logistics sector showed remarkable growth of 72.6%, driven by increased demand from a major customer since April 2024. Read More

Strategic Transactions and Investments

Empire Petroleum has amended its Revolver Loan Agreement with Equity Bank, doubling the total principal commitment from $10 million to $20 million through December 29, 2026. This increase provides additional financial resources for North Dakota development initiatives. Read More

Protective Industrial Products (PIP) has announced a definitive agreement to acquire Honeywell's Personal Protective Equipment Business (PPE), including major brands like Fendall, Fibre-Metal, Howard Leight, and others. The acquisition will expand PIP's brand portfolio and geographic reach. Read More

Lexicon Pharmaceuticals (NASDAQ: LXRX) announced a strategic restructuring to eliminate its commercial operations and focus on clinical development. The company will reduce its workforce by approximately 60% and expects to cut 2025 operating costs by $100 million. Read More

Community Health Systems (NYSE: CYH) has announced a definitive agreement to sell ShorePoint Health facilities in Florida to AdventHealth for $265 million in cash, subject to adjustments. The sale includes ShorePoint Health Port Charlotte and related ancillary businesses. The transaction is expected to close in Q1 2025, pending regulatory approvals and closing conditions. Read More

NovaBay Pharmaceuticals (NYSE American: NBY) announced the adjournment of its Special Meeting of Stockholders from November 22 to December 18, 2024, due to insufficient votes for two critical proposals, including the sale of Avenova and the company's liquidation. The Board supports both proposals, which are also recommended by ISS. Read More

Rezolve Ai (NASDAQ: RZLV) has secured strategic reseller partnerships with Microsoft and Google. Microsoft has committed $130 million for go-to-market activities, while Google Cloud will distribute Rezolve's Brain Suite globally. The partnerships provide access to billions of consumers and millions of businesses worldwide. Read More

Administration and Regulatory Developments

TechPrecision Corporation (NASDAQ: TPCS) received a notice from Nasdaq regarding non-compliance with listing rules due to delayed filing of its Q2 Form 10-Q. The company has until January 21, 2025 to submit a compliance plan, with a possible extension. The delay stems from challenges integrating financial reporting systems. Read More

Evolv Technology (NASDAQ: EVLV) has received a delinquency notification from Nasdaq for failing to timely file its Q3 2024 Quarterly Report. The delay is due to an internal investigation into sales practices, affecting revenue reports. Evolv plans to file the report as soon as possible while continuing Nasdaq listing compliance. Read More

Stran & Company (NASDAQ: SWAG) received a notification from Nasdaq for failing to file their Q3 2024 report on time, following previous report delays. The company must submit an updated compliance plan by December 6, 2024. The notification doesn't immediately affect STRAN's Nasdaq listing, but compliance with listing requirements remains uncertain. Read More

Golden Minerals (NYSE-A: AUMN) has completed the sale of its Yoquivo gold-silver project in Chihuahua State, Mexico to Advance Metals (ASX: AVM). The total transaction value is US$570,000 plus VAT, paid in cash through three installments: an initial US$20,000 for due diligence, followed by two payments of US$275,000 each. The transfer of the Yoquivo concessions will be finalized once AVM establishes its Mexican subsidiary. Read More

Ocean Biomedical (NASDAQ: OCEA) received a notice from Nasdaq on November 18, 2024, regarding non-compliance with listing rules due to failure to file its Q3 2024 Form 10-Q. This follows previous delays in filing its 2023 10-K and Q1/Q2 2024 10-Qs. While there's no immediate effect on stock listing, the company's securities are subject to delisting. A Nasdaq Hearings Panel will review the case on December 16, 2024. The company plans to file all delinquent reports as soon as possible. Read More

Quanterix (NASDAQ: QTRX) received a notice from Nasdaq on November 21, 2024, regarding non-compliance with listing rules due to delayed filing of its Q3 2024 Form 10-Q. The company has until January 20, 2025, to submit a compliance plan. The delay is attributed to the need to restate financial statements from 2022-2023 and multiple quarterly periods through Q2 2024. The notice does not immediately affect QTRX's Nasdaq listing, and the company expects to complete all required filings by end of 2024. Read More

Silexion Therapeutics (NASDAQ: SLXN) announced a 1-for-9 reverse share split of its ordinary shares, effective after market close on November 27, 2024, to maintain Nasdaq listing compliance. Read More

Elevai Labs Inc. (NASDAQ: ELAB) has withdrawn its previously announced exchange offer that would have allowed holders to exchange up to 15,000,000 shares of Common Stock for an equal number of newly issued Series B Preferred Stock due to logistical issues. Additionally, Elevai announced a 1-for-200 reverse stock split effective November 27, 2024, to maintain Nasdaq listing compliance. The split aims to meet Nasdaq's minimum bid price requirement of $1.00 per share. After the split, approximately 3.07 million shares will be outstanding. Read More

IMAC Holdings (NASDAQ: BACK) has received a deficiency notification from Nasdaq due to its failure to timely file its Q3 2024 Form 10-Q. The company now has until January 21, 2024, to submit a compliance plan. If Nasdaq accepts the plan, IMAC may receive up to 180 calendar days (until May 19, 2025) to regain compliance. Read More

Healthcare and Pharmaceutical Highlights

BioXcel Therapeutics (NASDAQ: BTAI) has announced the pricing of a $7.0 million public offering, consisting of shares and warrants. The offering is expected to close around November 25, 2024. Read More

Johnson & Johnson (NYSE: JNJ) has submitted a supplemental Biologics License Application (sBLA) to the FDA for a subcutaneous induction regimen of TREMFYA® to treat adults with ulcerative colitis (UC). Read More

Merck (MRK) gained approval from China’s NMPA for WELIREG® (belzutifan) to treat certain VHL disease-associated tumors. This approval is based on positive trial results demonstrating significant response rates. Read More

GE HealthCare (NYSE: GEHC) has enhanced its OEC 3D mobile CBCT C-arm portfolio with new features for endoscopic bronchoscopy procedures. The innovations aim to streamline workflow and improve visualization of airways during bronchoscopy procedures. Read More

Organogenesis Holdings (Nasdaq: ORGO) plans to expand its manufacturing capacity with a 122,000-square foot biomanufacturing facility in Rhode Island. Focused on Advanced Wound Care and Surgical and Sports Medicine markets, this expansion supports the company's growth strategy. Read More

Corporate Growth and Innovation

OutKick, a sports platform owned by FOX, reported remarkable growth for October 2024. With 8.6 million desktop and mobile unique visitors, it saw a 61% increase monthly and 44% annually. Multiplatform views climbed to 31 million, with social actions and video views growing significantly thanks to coverage of major sports events and discussions on controversial topics. Read More

Cineverse (NASDAQ: CNVS) added new streaming channels on Google TV Freeplay, including popular such as 'Dog Whisperer With Cesar Millan' and 'The Bob Ross Channel'. The channels offer various content without subscription or app installation, supporting an ad-funded model while expanding viewership and content accessibility. Read More

Expedia Group (NASDAQ: EXPE) rolled out its largest travel sale of the year with significant discounts on hotels, car rentals, and vacation stays across platforms Expedia, Hotels.com, and Vrbo. Valid for travel through December 15, 2025, the sale targets travelers looking to capitalize on seasonal deals. Read More

AAON announced a restructuring of its executive leadership to support strategic growth and capitalize on market demands. Stephen Wakefield and Matt Shaub will lead AAON and BASX products, respectively, aiming to drive expansion with the new Memphis facility. Read More

Jiuzi Holdings (NASDAQ: JZXN) terminated acquisition negotiations with Shenzhen Maigesong Electric Technology to focus on future growth. Despite the termination, the experience informed Jiuzi's strategy in the renewable energy sector and franchising business in China. Read More

Aerospace and Defense Developments

Gulfstream Aerospace, part of General Dynamics, won a $991 million logistics support contract from the U.S. Air Force. Covering C-20 and C-37 fleets, this seven-year contract also includes support for the Navy, Marine Corps, Army, and Coast Guard, solidifying its role in defense logistics and fleet management. Read More

Chesapeake Utilities (NYSE: CPK) has established an at-the-market equity offering program to sell up to $100 million worth of common stock shares. The company has partnered with multiple sales agents, including RBC Capital Markets, Barclays Capital, and others, to facilitate the offerings through the New York Stock Exchange. The proceeds will be used for general corporate purposes, including capital expenditures, debt repayment, acquisitions, subsidiary investments, and working capital. Read More