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NIO Limited (NIO) Stakes are High Says Morgan Stanley as It Achieves a Major Milestone

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The Chinese-based EV manufacturer paves the path for a clear future as Wall Street analyst goes bullish on the stock due to better-than-expected Q3 deliveries.  

Shares of the Electric Vehicle maker surged in the premarket today after the company announced a key production milestone. With the future of EV market looking crystal clear, NIO will become one of the leaders of the market. 

Wall Street firm Morgan Stanley has raised its earnings forecasts and price target of the so-called Chinese Tesla. The company has increased its manufacturing power followed by a better-than-expected delivery rate in the previous quarter. 

NIO is rallying today with strong momentum having the highest trading volume of 75 million, at the moment. The stock is trading at its all-time high price as it crossed the $30 mark earlier today. 

As we write this at 11:23 A.M. EDT, NIO was trading at $30.12 soaring by 9.23%. 

The company reported that it completed a 5,000th electric vehicle target for the month as it rolled out the production line at the Hefei manufacturing plant. The reports revolving around local Chinese media outlets highlighted that it is the first time in the firm’s history exceeding 5,000 units per month. 

The company obtained this milestone right after Morgan Stanley updated its latest estimates for NIO. Morgan Stanley analyst, Tim Hsiao commented that NIO is achieving its target quite comprehensively. The pace of NIO’s progress in achieving its strategic and investment ambitions is tracking ahead of the expectations on all fronts. 

Hsiao denoted NIO as “A strong EV leader in the making.” 

Morgan Stanley believes that the Chinese EV market to evolve and face intensifying competition in 2021. Hsiao said:

“We look for Nio to reinforce its pole position through superior volume scale, good spectrum of model/market coverage, self-driving technologies and diversification into power solutions.”

It seems that the analyst anticipates NIO’s sales to record stronger volumes in the next two years. Hsiao has predicted stronger-than-expected demand and a strong backlog for Nio’s EC6 electric coupe SUV, a potential rival to the Model Y.

The analyst kept an overweight rating while raising his price target on NIO stock to $33 from $20.50.

Earlier, JP Morgan’s analyst, Nick Lai reported a new price target for NIO of $40 by June 2021. Nick expects the company to be driven by strong value-to-sales metrics and increasing demand in the EV market. 

Another key point that makes NIO Limited (NIO) go bullish in the near future is the expected debut of a new sedan at NIO Day, which is anticipated to happen in December 2020 or January 2021.

4 Solid Stocks for a Volatile Market

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It was an ugly trading session on Wednesday. Stocks posted their largest losses in months as the S&P sold off for more than 3.5%. The inflated Nasdaq led the losses with a 3.7% tumble, and the DJIA fell 3.4%.

Hopefully, we will see somewhat of a rebound in today’s session. U.S. index futures are up about half a point ahead of the open, and Euro stocks are trending higher midway through the trading session.

Europe is rebounding after yesterday’s bloodbath. The British FTSE 100 is up 0.2% and the Euro Stoxx 600 is up 0.3%

On the Pacific side of town, Asian stocks were mostly down overnight. Hong Kong’s Hang Seng index was the biggest loser with a 0.5% loss, and the Japanese Nikkei 225 rallied 0.4%.

This week’s earnings schedule continues to chug along. Some of the biggest FAANG names are on the docket, as well as several other major S&P 500 stocks.

Shopify [SHOP], Nokia [NOK], Moderna [MRNA], and Spotify [SPOT] before the bell.

Apple [AAPL], Amazon [AMZN], Facebook [FB], and Alphabet [GOOGL] will follow up with their reports after the closing bell.

Pinterest [PINS]

Pinterest blew its Q3 earnings report out of the water and stocks are rallying. The social media firm grew its quarterly revenues at a staggering 58% clip, and it predicts it will grow Q4 revenues at 60% over last year.

We saw a similar move when Snap [SNAP] rallied sharply after releasing its earnings report. It’s obvious that investors are willing to pay a premium for growth. With the FANG stocks trading at historically high valuations, investors are flocking into second-tier social media services like PINS and SNAP.

The blowout quarter drove a 31.8% rally in the after-hours trading session, and the stock is trading actively.

Ford [F]

Ford has been on a quiet rally over the past two months that has lifted its share price to nearly double its Spring lows.

The rally is continuing today after Ford released its earnings report. The automaker reported rebounding vehicle sales and beat Wall Street expectations for earnings and revenues. Operating profits were nearly three times higher the analyst target.

Value stocks like F are quietly gaining ground while tech and other favored sectors continue to face resistance. We could be seeing a rotation into these value-oriented stocks in anticipation of more uncertainty to come.

F is up 5.0% in the pre-market on news its blowout quarter.

Brinks Co. [BCO] 

Brinks released its Q3 earnings report this morning and it was much better than analysts expected.

The security firm reported an operating loss for the quarter, but it’s adjusted EPS figure topped analyst estimates.Brinks also beat consensus estimates for revenues and reinstated its 2020 guidance.

Investors ate up the blowout report. BCO is taking off in the pre-market with a 20.7% gain.

Inphi Corp. [IPHI]

Inphi released its quarterly earnings report this morning and announced a groundbreaking buy-out proposal from Marvell Technology [MRVL].

Marvell says it will pay $66 cash and 2.323 shares for each outstanding share of IPHI. The board still needs to consider the proposal, and the company said it won’t host a post-earnings conference call so it can weigh the offer.

Meanwhile, IPHI posted strong numbers on its earnings report. The quarter’s record-breaking revenues topped Q3 2019’s totals by 91.8%.

IPHI is trading higher on the strong earnings and buyout rumors. It’s currently 27.9% higher in the pre-market trading session.

Scholar Rock (SRRK) Trades at All-Time High After It Reports Positive SRK-015 Data from TOPAZ Phase 2 

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SRRK reached the all-time high after the close of the market on Tuesday as the stock skyrocketed on positive SRK-015 results. 

Scholar Rock Holding Corporation (SRRK) shares soared above 110% in yesterday’s trading breaking the all-time price mark. The stock surged with a high volume followed by the announcement of positive six-month interim analysis results of SRK-015 from the TOPAZ Phase 2 clinical trial.

Shares of Scholar Rock made a bullish move in the premarket on Tuesday and opened the trading session at $17.25 compared to the previous close of $13.72. The stock kept on rising before it closed the day at an all-time high of $30.02 up by a massive 118.80%. 

As we write this at before hours 7:43 A.M. EDT, SRRK was continuing the bullish momentum trading at $34.55 soaring up to 15%. 

The major reason behind Scholar Rock’s massive push came from its positive results of SRK-015 from the TOPAZ Phase 2 clinical trial. The interim analysis results obtained the primary efficacy endpoint which gained the attention of the market. 

Treating the patients with Type 2 and Type 3 Spinal Muscular Atrophy (SMA) with SRK-015 showed notable improvements in Hammersmith scale scores in all three cohorts at six-months. The company anticipates the top-line data from the 12-month treatment period in 2021. 

The 6-month data obtained ≥1 point improvement in Hammersmith scores among 67% of patients. While 35% of patients in all the three cohorts obtained a ≥3 point increase in Hammersmith scores. The Phase 2 results showed no safety signals from the interim analysis.

From a high-dose of 20 mg/kg) arm across all evaluated time points, the primary endpoint reflected greater, randomized, double-blind cohort; statistical improvements in HFMSE scores. 

The Chief Medical Officer of Scholar Rock, Yung Chyung highlighted that the interim data from the TOPAZ Phase 2 is a great achievement that will help them in engaging with the regulatory authorities for the registrational trial plans. Chyung said:

“This is an exciting and important step towards establishing SRK-015 as the potential first muscle-directed therapy for patients with SMA, while also providing important validation of our scientific approach of targeting the latent forms of growth factors.”

This was the first clinical data showing the potential therapeutic benefits of Scholar Rock’s innovative scientific platform of inhibiting the activation of latent myostatin. This is also the first time the company has tried to target the latent forms of growth factors through its proprietary approach. 

Scholar Rock Holding Corporation (SRRK) is very enthused from its Phase 2 results and is optimistic to report the top-line data of the 12-month study in the next year. The next step for the company is to talk with the regulatory authorities for the registration of SRK-015. 

4 Active Stocks for Wednesday

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Stocks closed lower again yesterday as virus fears and political uncertainty continued to weigh on the market.

The Dow was the day’s biggest loser with a 0.8% drop,and the S&P 500 fell 0.3%. The tech-heavy Nasdaq managed to close the day with a 0.6% gain.

Batten down the hatches because all signals indicate we’re headed for a major sell-off today. U.S. index futures are trading sharply lower than yesterday’s close.

Asian stocks made modest moves overnight. The Japanese Nikkei 225 slid 0.3%, and the Shanghai Composite fell 0.5%.

The markets already look bad in Europe. The German Dax is down 3.0% mid-way through the trading session, and the Eurozone Stoxx 600 is down 2.0%.

Meanwhile, a big week for earnings is in full swing. Today, we’ll hear from:

Boeing [BA], UPS [UPS], General Electric [GE], and Sony [SNE] before the bell.

Visa [V], Gilead Sciences [GILD], Pinterest [PINS], and eBay [EBAY] will follow up with their reports after the closing bell.

General Electric [GE]

GE made a surprise profit in the third quarter and beat analyst estimates for earnings and revenues. The firm’s Q3 adjusted earnings were down from last year, but it was a much better quarter than the Street expected.

GE’s adjusted EPS of $0.06 was down from $0.15 in Q3 2019, but analysts were forecasting a $0.03 per share loss. Q3 revenues of $19.42 billion also topped the Street’s $18.94 billion target.

CEO Larry Culp said he expects the company to be cash-flow positive by 2021.

The market looks like a bloodbath today, but GE is one of the few bright spots. The stock is trading actively, and shares are up 3.7% ahead of the open.

Socket Mobile [SCKT]

Apple made Socket Mobile investors very happy today. Socket announced that its mobile card reader has passed Apple’s wallet certification process. Now, Socket’s S550 card readers can accept Apple Pay.

It’s a major step forward for this tiny company. The deal makes its card readers just became more desirable and customer-friendly. Plus, an endorsement from such a prominent company will help Socket establish more credibility in the payment-processing market.

Shares of SCKT are active on the news and the stock is up 48.6% in the pre-market.

Miragen [MGEN]

This tiny biotech firm just made a big move and biotech bulls are stampeding into the stock.

Miragen made a deal to acquire privately-held Viridian Therapeutics in a stock-for-stock transaction. The firm also have access to Viridian’s drug pipeline, which includes a highly-touted treatment for thyroid eye disease (TED).

Miragen also announced that it will conduct a secondary offering to private equity investors in order to raise $91 million to fund clinical trails. The company believes the cash stockpile will allow it to push multiple compounds through Phase-2 proof of concept studies in TED and expand its orphan disease pipeling.

Go big or go home. Miragen pulled out all the stops to make this deal happen, and so far it’s a hit with investors. MGEN is trading actively and it’s up a whopping 132.7% in the pre-bell trading session.

Civeo [CVEO]

Civeo released its third-quarter earnings report this morning, and investors liked what they saw. The company, which provides hospitality services for the natural resources industry, had a great quarter. It was so good that the firm raised its full year forecast for revenues and EBITDA.

The firm swung to a surprise profit of $0.03 per share in the third quarter, well ahead of the Street’s expectation of a $0.05 per share loss. All and all, the company brought in $142.9 million in revenue during the third quarter.

The upbeat report was Civeo’s second consecutive earnings beat, and investors are digging the surprise profit. CVEO is up 16.6% in the pre-market.

Document Security Systems [DSS] Stock Surged 70% on Monday After DSS Reported Record $5.4M Net Income in Q3

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DSS closed as the second highest traded stock in yesterday’s market with its shares soaring up to 70% followed by record third quarter net income. 

Document Security Systems, Inc. (DSS) made a notable move in the trading session on Monday surging as high as 70%. The stock price soared after the company reported record third quarter results for the period ended on Sept. 30, 2020.

Shares of Document Security escalated in the premarket yesterday before it opened the trading session at $5.54 compared to the previous close of $4.04. DSS Stock kept the bullish momentum in the open market closing the day at $6.82 up by 68.81%, adding +$2.78 to the shares price. 

DSS remained one of the highly traded stock with the investors going bullish as the company reported Q3 earnings per share of $0.70, surpassing Wall Street’s earnings per share estimate of $0.12. The trading volume of DSS was maximum at 120 million, just below the highest traded stock SNAP.

This third quarter was truly a transformational quarter for the company as they obtained a record net income of $5.4 million or $1.20 per share, up from a net loss of $1.2 million from the same period last year. The increase in net income during Q3 primarily reflect DDS’s unrealized gains on its marketable securities of $7.8 million. 

The other factor that helped the net income to grow was the continuing operations and shareholder equity increasing approximately five-fold (496%) to $73.3 million.

The Chief Operating Officer of DSS, Frank D. Heuszel said:

“We also demonstrated our vision of sharing the economic benefits of our success with our shareholders in the third quarter, after completing the acquisition of Impact BioMedical, by declaring a special share dividend. With multiple multi-million-dollar contract wins, game-changing research and development collaborations and partnerships, and a track record of execution, I believe we are well positioned to accelerate growth in the quarters ahead.”

The company made impressive growth during the third quarter placing it in a strong position to create better opportunities for the future. The BioMedical acquisition will turn out to be a long-term success for DSS as they are highly focused on its development. 

The revenue for the third quarter raised 59% to $4.2 million compared to $2.6 million in the same quarter of 2019. While the products segment recorded $3 million in revenues, up 40% from $2.1 million in the prior year period. 

All in all, the third quarter was very fruitful for the company reporting record increases in financial results and also making strong progress on the business front. 

Document Security Systems, Inc. (DSS) is looking to execute its new business model. The shareholders are happy with the company’s quarterly performance increasing their equity by almost 496% as they stand by the company’s new plan.

Watch These Four Value Stocks In Pre Market

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Stocks had their worst session in over a month yesterday as rising case counts led investors to fear another lockdown could be in the cards.

The Dow was the day’s biggest loser with a 2.3% drop, while the Nasdaq fell 1.6% and the S&P 500 tumbled 1.9%.

Asian stocks were mixed in their overnight session. The Nikkei 225 was flat, and the Hang Seng Composite fell 0.5%.

In Europe, stocks are relatively calm and trading close to flat. The Eurozone Stoxx 600 is up 0.4%.

U.S. index futures are currently trading higher, indicating a potential rebound in today’s session. DJIA and S&P 500 contracts are currently trading about 0.4% higher.

Today’s earnings docket includes:

Pfizer [PFE], 3M [MMM], Raytheon Technologies [RTX], and Caterpillar [CAT] before the bell.

Microsoft [MSFT], Advanced Micro Devices [AMD], and FireEye [FEYE]

Here are this morning’s most active stocks:

Xilinx Inc. [XLNX]

A few weeks ago we reported a rumor that AMD was eyeing Xilinx for a possible acquisition. This morning, the rumor came to fruition. AMD acquired Xilinx in a $35 billion all-stock deal. The deal greatly strengthens AMD’s data center chip portfolio and will help the firm advance in its battle with Intel [INTC]. The deal is expected to close at the end of 2021.

Xilinx is up 10.0% in the pre-market on active volume and leads the S&P 500.

Harley Davidson [HOG]

Harley reported its quarterly earnings report this morning, and the company reported its best third-quarter net income since 2015. The firm also reported significant progress towards its five-year strategic plan to deliver profitable growth and shareholder value.

The motorcycle maker reported a 10% sales drop, but profitability improved significantly as the company refocused its efforts on a narrower set of markets under the new CEO. Harley also beat consensus estimates for revenues and earnings.

The company’s slimmed down approach should help it cut the fat and maintain growth. HOG is up 7.6% this morning.

SPI Energy [SPI]

SPI Energy’s board voted to approve a plan to spin-off the company’s Solar Juice unit by way of an initial public offering. The company will retain its controlling ownership stake in Solar Juice after the spin-off.

“Solar Juice is a leader in [the] Asia-Pacific market, and we believe we can unlock greater value of this business through a successful spinoff,” SPI Energy Chairman & Chief Executive Xiaofeng Peng said.

SPI Energy is up 37.8% ahead of the open.

1847 Goedeker Inc. [GOED]

1847 Goedeker announced a plan to acquire Appliances Connection, a leading retailer of household appliances. The acquisition would add $300 M in annual revenues to 1847’s brand portfolio, and 1847 forecasts its combined brands will generate a total of $400 M in annual revenues in 2021.

The Household Appliances acquisition will create one of the largest online retailers of appliances in the U.S, and it accelerates 1847’s efforts to grow its direct-to-consumer appliance sales business.

The market likes the deal. GOED is up 78.6% in the pre-market.

Zedge, Inc. (ZDGE) Stock Trades on Year High After Announcing Astonishing Fourth Quarter Results

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ZDGE Stock delivers record cash flow from operations during Fiscal 2020. 

The leading content distribution platform Zedge, Inc. (ZDGE) recently reported its fourth quarter and full fiscal year 2020 results. The company recorded strong financial growth during the fourth quarter and over the fiscal year 2020.

Shares of Zedge surged as high as 47% in the premarket on Friday followed by the Q4 report which was published on Thursday evening. ZDGE opened the trading session today with a bullish momentum at $3.08 compared to the previous close of $1.57 on Thursday. 

Currently, the shares price of Zedge are trading at its highest since December 2018. As we write this at 1:50 P.M. EDT, ZDGE was trading at $2.41 soaring by 52.54%. 

The company reported its Q4 revenue of $2.7 million in comparison with last year’s Q4 revenue of $2 million, a 39.2% incline. The net income was $0.5 million compared to a net loss of $1.2 million in 2019. 

The major factor in pushing Zedge’s quarterly and yearly performance was its increasing paid subscriber base, which remained the highlight for the company.

Zedge reported its paid subscription revenue of $0.6 million compared to $0.1 million in 2019, a whopping 378% growth. While the total number of paid subscriber base increased by 227%, almost 26.3% more from the prior quarter. 

The Chief Operating Officer of the company, Jonathan Reich mentioned that Zedge finished the year on a high note with vitalizing momentum going into the next fiscal year. Reich added:

“Our fourth quarter paid subscriber count continued to grow at an impressive pace and contributed to a 50% year-over-year increase in average revenue per monthly active user or ARPMAU. We were also encouraged to see the gross transaction value or GTV, for our Zedge Premium marketplace return to double-digit growth after a temporary pandemic-related slowdown last quarter.”

Zedge has invested in product development improving its Ad optimization, and strong paid subscription growth. The company implemented the cost reduction policy helping it to generate positive EPS in the fourth quarter of 2020. 

One of the major goals of the company was to achieve positive cash flow during the fourth quarter, and Zedge topped this by generating positive cash flow in all four quarters of fiscal 2020. 

The cash flow from operations during the fourth quarter was $0.5 million versus ($0.4) million in the same period last year. The company delivered record cash flow during fiscal 2020 with $2.1 million compared to $0.1 million in 2019. 

Moving forward into fiscal 2021, Zedge is targeting revenue growth of over 20%. The momentum has continued into the first quarter of this year and the company sees the opportunity of further diversifying its existing revenue streams in the future, said Reich.

4 Most Notable Stocks to Watch Today

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Stocks slid last week as rising coronavirus cases and political uncertainty continued to weigh on investor sentiment.

U.S. cases of COVID-19 surged to 84,000 per day towards the end of last week, fueling concerns of a potential second wave of lockdowns. The numbers calmed slightly since then, but many regions are reporting higher average daily counts.

However, it’s worth noting that the higher figures could be partly driven by expanded testing programs because fatality and hospitalization rates are significantly lower than they were earlier in the year. Testing is more widely available, so more people with less-severe and asymptomatic cases are taking tests. This is one possible explanation for rising cases and lower fatality rates.

Stimulus negotiations continue to be a major issue for the market. However, Election Day is next Tuesday, and it’s unlikely an agreement will be reached before then. Both side are playing the political game, but you can rest assured it’s over until at least November 3.

Asian stocks were mixed in the overnight trading session. The Japanese Nikkei 225 was flat, and China’s Shanghai Composite was down 0.8%.

European markets are mostly in the red mid-way through the trading session. The German DAX is the biggest loser with a 2.2% slide, and the Stoxx 600 is up 0.6%.

Today’s earnings docket includes:

Hasbro [HAS], SAP [SAP], and Otis Worldwide [OTIS] before the bell.

Twilio [TWLO], NXP Semiconductors [NXPI], and Boyd Gaming [BYD]

Muscle Maker Inc. [GRIL]

Muscle Maker added one of its franchise locations in Manhattan to its corporate umbrella. The new, corporate-owned restaurant is located in the Chelsea neighborhood on 7th ave, between 14th and 15th street. The location has some of the highest sales volume of any Muscle Maker location, and it brought in more than $1.1 million in sales in 2019.

The restaurant will also serve as a ghost kitchen for Muscle Makers’ other brands, and the company says it plans to add healthier beers and wines to its menu in the future. It’s also planning to combat slowed, pandemic-era growth by placing new locations in nontraditional locations like military bases and college campuses.

GRIL is one of this morning’s most active stocks and it’s up 54.9% on news of the deal.

Lianluo Smart Ltd. [LLIT]

Lianluo Smart Limited announced Friday it will merge with privately-held Newegg Inc, an eCommerce marketplace focused primarily on technology and electronics. Newegg’s stockholders will become the majority owners of Lianluo and its subsidiaries. However, Lianluo will sell its Linluo Connection Medical Weable Device Technology Co. to another Chinese company.

“Over the course of nearly two decades, Newegg built a highly reputable and widely recognized name in the tech-focused ecommerce market. As we prepare to become a publicly traded company, we are well positioned to build on this foundation to take Newegg to the next level,” said Anthony Chow, Global CEO of Newegg.

LLIT is up 59.6% on news of the acquisition and the stock is active in the extended-hours trading session.

Titan Pharmaceuticals [TTNP]

Shares of Titan are rallying today after the company announced a debt settlement agreement with two of its creditors. The firm will pay $1.6 million in case to settle outstanding debts with Molteni and Horizon. Titan will also transfer “certain probuphine assets” to Molteni under the terms of the deal.

The payments will clear a $5.2 million outstanding debt form Titan’s books. Upon closing, Titan will have no liens on its business or its intellectual property.

Shares are rallying on the news. TTNP is up 38.9% on active pre-market trading volume.

Mid-Con Energy Partners LP [MCEP]

Mid-Con will enter into a strategic merger with Contango Oil & Gas. Mid-Con shareholders will receive 1.75 shares of Contango stock for every Mid-Con share they own. The exchange rate implies the new, combined business will have an enterprise value of $400 million, and Contango shareholders will own about 87% of the company.

Controlling shareholders have voted to confirm the agreement on both sides, so the deal is expected to close pending regulatory approval. The oil & gas industry is having major issues right now, and size equals security in this asset-intensive industry. The merger should help the company weather the economic storm more effectively.

MCEP is up 14.9% on the news and the stock is active in the pre-market.

Zedge, Inc. (ZDGE) Stock Trades on Year High After Announcing Astonishing Fourth Quarter Results

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The company delivers record cash flow from operations during Fiscal 2020. 

The leading content distribution platform Zedge, Inc. (ZDGE) recently reported its fourth quarter and full fiscal year 2020 results. The company recorded strong financial growth during the fourth quarter and over the fiscal year 2020.

Shares of Zedge surged as high as 47% in the premarket on Friday followed by the Q4 report which was published on Thursday evening. ZDGE opened the trading session today with a bullish momentum at $3.08 compared to the previous close of $1.57 on Thursday. 

Currently, the shares price of Zedge are trading at its highest since December 2018. As we write this at 1:50 P.M. EDT, ZDGE was trading at $2.41 soaring by 52.54%. 

The company reported its Q4 revenue of $2.7 million in comparison with last year’s Q4 revenue of $2 million, a 39.2% incline. The net income was $0.5 million compared to a net loss of $1.2 million in 2019. 

The major factor in pushing Zedge’s quarterly and yearly performance was its increasing paid subscriber base, which remained the highlight for the company.

Zedge reported its paid subscription revenue of $0.6 million compared to $0.1 million in 2019, a whopping 378% growth. While the total number of paid subscriber base increased by 227%, almost 26.3% more from the prior quarter. 

The Chief Operating Officer of the company, Jonathan Reich mentioned that Zedge finished the year on a high note with vitalizing momentum going into the next fiscal year. Reich added:

“Our fourth quarter paid subscriber count continued to grow at an impressive pace and contributed to a 50% year-over-year increase in average revenue per monthly active user or ARPMAU. We were also encouraged to see the gross transaction value or GTV, for our Zedge Premium marketplace return to double-digit growth after a temporary pandemic-related slowdown last quarter.”

Zedge has invested in product development improving its Ad optimization, and strong paid subscription growth. The company implemented the cost reduction policy helping it to generate positive EPS in the fourth quarter of 2020. 

One of the major goals of the company was to achieve positive cash flow during the fourth quarter, and Zedge topped this by generating positive cash flow in all four quarters of fiscal 2020. 

The cash flow from operations during the fourth quarter was $0.5 million versus ($0.4) million in the same period last year. The company delivered record cash flow during fiscal 2020 with $2.1 million compared to $0.1 million in 2019. 

Moving forward into fiscal 2021, Zedge is targeting revenue growth of over 20%. The momentum has continued into the first quarter of this year and the company sees the opportunity of further diversifying its existing revenue streams in the future, said Reich.

GE Healthcare Signs Largest Ever Single-order Ultrasound Deal in the U.S. Worth $11 Million

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GE stock is pushing up after its subsidiary takes a massive ultrasound order from St. Luke’s University Health Network, where GE Healthcare will install 76 ultrasound systems in 2020.

The subsidiary of General Electric Company (GE), GE Healthcare recently announced that it has signed its largest ever deal in the U.S. with St. Luke’s University Health Network. GE Healthcare will install its ultrasound technology and IT workflow solutions system-wide at St. Luke, bring $11 million to the company.

GE Healthcare will install 76 ultrasound systems that will deploy an AI-powered technology. The company will continue developing modern devices upgrading with time over the next four years to maintain the latest technology for the healthcare system.

St. Luke has ordered the latest ultrasound system based on AI-technology to tackle the complexities and pressure on the system that occurred from exponential growth following expansion and several acquisitions over the last few years. The healthcare system of St. Luke’s will standardize care and provide advanced level technology to its ultrasound users in the Vascular, Echocardiography, and Radiology departments across its 12 hospitals.  

The President and Chief Operating Officer of GE Healthcare, U.S. and Canada, Everett Cunningham commented that working with St. Luke will be an honor for the company in enhancing its mission to provide quality patient care, consistent and clinical results for the people of New Jersey and Pennsylvania. 

Talking about the impact of GE Healthcare’s ultrasound system at St. Luke, Cunningham added:

“St. Luke’s will immediately enhance their staff and patient experience and enable cost savings. This upgrade arrangement over the next four years means they can maintain their fleet with the latest technology developments.”

Among the following deal, St. Luke’s will acquire GE Healthcare’s Vivid E95 for Echocardiography, and LOGIQ E10 for General Imaging. Both of these will connect to Viewpoint 6, GE Healthcare’s post-processing system and automated reporting, and Vscan Extend, a handheld ultrasound device to be used for Cardiology. 

GE Healthcare equipment’s will support St. Luke in providing a better and faster image quality, allowing swift treatment and diagnoses. The Viewpoint 6 system will also help St. Luke’s in saving $300,000 per year in radiologist efficiency gains.

The Network Chairman and Senior Vice President, Department of Radiology at St. Luke’s, Dr. Hal L. Folander said:

“Through our partnership with GE Healthcare, we will maintain this state-of-the-art technology for years to come.”

Market Overview

The recent deal of General Electric’s subsidiary helped the stock to surge in yesterday’s trading session with the stock closing the day at $7.72 up by 5.46% on Thursday. 

General Electric Company (GE) began trading on a positive side during the premarket today spiking up to 2.33%. As we write this at 11:19 A.M. EDT, GE was trading at $7.73 up by 0.13%.