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Target Corp – The company reported digital comparable sales in the second quarter rose 10%, compared to a 195% rise in the same, pandemic affected period a year earlier. Overall comparable sales rose only 8.9% after five straight quarters of double-digit increases, however, TGT forecast high single-digit. The company reported profits of $3.64 per share vs estimated results in the range of $3.11 to $4.10 per share, with a forecasted mean of $3.49 per share. The company reported revenue of $25.16 billion, which is in line with the estimated revenue.
Tilray Inc – Set to open up more than 5% after the company announced it would buy convertible debt of struggling U.S. rival MedMen Enterprises Inc for about $166 mln in a deal with partners, giving it a pathway to enter the United States. By buying convertible debt and warrants – which can be changed into shares later – TLRY gets the option to take a “significant equity position in MedMen… following U.S. cannabis legalization”
DiDi Global Inc – Back on watch after an official from China’s Ministry of Transport said a cap will be placed on percentage that ride-hailing platforms can take from drivers’ fees. The company’s shares are down 40% from their $14 IPO price on concerns over Beijing’s widening crackdown days after its hotly anticipated U.S. market debut in June.
Krispy Kreme Inc – Reported earnings for the first time as a public company aftermarket yesterday, DNUT forecast stronger annual revenue after beating second-quarter estimates on Tuesday, betting on its online business, drive-thru and new menu items to soften any hit from the COVID-19 Delta variant. Net revenue rose 42.6% to $349.2 million in the second quarter ended July 4 versus estimates of $333.4 million. Excluding items, it earned 13 cents per share, a cent below expectations.
Lowe’s Companies Inc – Forecast full-year sales above estimates on Wednesday, as higher spending on big-ticket items offset some of the slowdown in demand from the company’s core do-it-yourself (DIY) customers has it’s shares higher this morning, posted net earnings that rose to $3.02 billion, or $4.25 per share from $2.83 billion, or $3.74 per share, a year earlier. Net sales fell to $27.57 billion from $27.30 billion, beating estimates of $26.85 billion. Same-store-sales fell less than expected.
Vaccine Stocks – Higher as a group this morning ahead of an expected announcement by the White House calling for a booster shot for Americans already fully vaccinated against Covid-19. MRNA, BNTX, PFE, AZN
Virpax Pharmaceuticals – The pain drug developer shares jumped to a record aftermarket. The company said the U.S. FDA has indicated that co can pursue approval of its product MMS019 as a non-prescription drug to be used an intranasal protective to reduce spread of viruses. Company said it has engaged contract researcher Syneos Health to assist with clinical trials.
TD Holdings Inc – The China-based commodities trading company’s shares are set to open at their highest level in a month after it reported Q2 net income of $357,856 attributable to shareholders, compared to $5.5 mln loss a year earlier. Revenue also jumped, helped by higher sales of commodity products.
PharmaCyte Biotech – Nano-cap biotech, recent up-listing to the Nasdaq, 1.5m free float, no significant news here.