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AMC Entertainment – The cinema operator beat second-quarter revenue estimates on Monday, lifted by millions of moviegoers at its theaters catching up on in-person entertainment in a post-pandemic economy. Revenue at the company, at the center of a boom in small-time investing this year, rose to $444.7 million in the quarter up from $18.9 million a year earlier. Analysts on average had expected revenue of $382.1 million. EPS was a loss of $0.71/share vs. a loss of $5.38 per share, a year earlier.
Fisker Inc – The EV startup’s shares shot up 10.7% late yesterday after report said Morgan Stanley has resumed coverage with an “overweight” rating. MS analyst Adam Jonas sets PT of $40 following the company’s Q2 report, naming the company as potentially “one of the only EV-related startups to actually launch on time” with its Ocean model. Also expects the company can “ramp efficaciously in late 2022 at a time when demand for EVs exceeds supply”
SmileDirectClub Inc – The dental products maker is trading sharply lower premarket after its quarterly report missed expectations, the company posted Q2 rev of $174 mln shy of $198.5 mln consensus and loss/shr of 14 cents wider than 9 cents loss estimate. The company also cut its FY forecast.
Tesla Inc – Announced it sold 32,968 China-made vehicles in July, including 24,347 for export, the China Passenger Car Association said local sales of China-made vehicles plunged 69% to 8,621 cars from 28,138 in June. Tesla’s sales in the first month of each quarter are usually lower than the following two months. The company, which makes Model 3 sedans and Model Y sport-utility vehicles in Shanghai, sold 33,155 China-made vehicles in June.
3D Systems Corp – The 3D printer maker shares are higher premarket – set for second straight session of gains after it reported a 44.1% jump in Q2 revenue of $162.6 mln from a year earlier vs analysts’ avg. estimate of $143.3 mln in its latest earnings report. The comipany swung to an adj. EPS of $0.12 from a loss of $0.13/share a year earlier; analysts were expecting a profit of $0.05/share in Q2. To grapple with the impact of the pandemic, DDD has been divesting non-core assets to make its business more nimble. In Q2, co announced agreements to sell its remaining non-core assets; the transactions are expected to complete in Q3.
Moderna Inc – Trading higher premarket for the fourth time in the last five sessions, if current gains hold the company will start the day with a $200b market cap surpassing Merck & Co Inc. MRNA announced new plans to build a vaccine plant in Canada with federal cash. The stock was up 20% yesterday after Australian and Swiss approvals for its covid-19 vaccine.
Kaixin Auto Holdings – Released further details to plans announced last week for the company to enter the smaller size electric vehicle (EV) market in China. Kaixin’s new energy vehicle unit has launched development plans focused on smaller EV models in the subcompact and minicompact categories. To speed up the process, the Company has discussed mergers and acquisitions with a number of electric car manufacturers. Kaixin will disclose the results in a timely manner.
Arcturus Therapeutics Holdings – Shares of the drug developer are up sharply after it announced its COVID-19 vaccine has been selected by a “global entity” to study in a multi-national phase 3 trial. Neither timeline, nor trial partner name were disclosed.
Lightening eMotors Inc – Micro-cap EV startup sharply higher after announcing a new multiyear agreement for up to $850M in zero-emission bus technology plus charging products and services.
Dynatronics Corp – Micro-cap medical equipment maker trading higher after reporting preliminary fourth quarter fiscal year 2021 Net Sales ahead of expectations.
IMV Inc – A clinical-stage biopharmaceutical company pioneering a novel class of immunotherapies against difficult-to-treat cancers, today announced positive, final topline results of the DeCidE1 Phase 2 clinical trial evaluating maveropepimut-S (MVP-S, formerly known as DPX-Survivac) in subjects with advanced recurrent ovarian cancer.