Fly Intel: After-Hours Movers » 19:0906/3006/30/20
FDX, CDMO, TTOO, AKRO, DKNG, SCS, DENN, GSX
Check out this evening's…
Avid Bioservices reports Q4 EPS (11c), consensus (16) » 16:0906/3006/30/20
Reports Q4 revenue…
Reports Q4 revenue $12.6M, consensus $8.5M. As of April 30, 2020, revenue backlog was $65 million, an increase of 12% compared to $58 million at the end of the third quarter of fiscal 2020, and an increase of 41% compared to $46 million at the end of last fiscal year. The company expects to recognize the majority of this backlog during fiscal 2021.
Avid Bioservices options imply 50.7% move in share price post-earnings » 15:3406/3006/30/20
Pre-earnings options volume in Avid Bioservices is 9.8x normal with calls leading puts 8:5. Implied volatility suggests the market is anticipating a move near 50.7%, or $3.35, after results are released. Median move over the past eight quarters is 19.8%.
|Over a week ago|
Avid Bioservices appoints Nicholas Green as president, CEO » 08:0606/2306/23/20
Avid Bioservices announced that Nicholas Green has been appointed president and CEO, as well as a member of the company's board of directors, effective July 30, 2020. He will succeed Rick Hancock who has served as interim president and CEO since May 2019. Mr. Hancock will continue to serve on Avid's board of directors. Green most recently served as president and CEO of Therapure Biopharma, a Canada-based biopharmaceutical company which includes Therapure Biomanufacturing.
|Over a month ago|
Avid Bioservices, Aragen Bioscience enter agreement for integrated solution » 08:5505/0605/06/20
Avid Bioservices and…
Avid Bioservices and Aragen Bioscience announced a co-marketing agreement that will provide clients an integrated "sequence-to-manufacturing" service. Under terms of the non-exclusive agreement, the companies will offer customers Aragen's cell line development expertise integrated with Avid's upstream and downstream process development and analytical services to drive efficiencies and reduce overall timelines for delivering CGMP bulk drug substances.
|Over a quarter ago|
Fly Intel: Wall Street's top stories for Wednesday » 16:4003/1103/11/20
PEP, MNST, KO, DXC, BA, ACDVF, ADDYY, TMUS, S, EBAY, VIR, MNK, MTDR, CDMO
After seeing a bounce…
Fly Intel: Wall Street's top stories at midday » 12:4303/1103/11/20
PEP, MNST, KO, DXC, BA, NKE, ADDYY, VIR, CLDR, MTDR, CDMO
After seeing a bounce…
Fly Intel: After Hours Movers » 18:3703/1003/10/20
HEAR, CLDR, APTO, DXC, CDMO, CLNE, VSLR, KFY, CTRE, HLT
UP AFTER EARNINGS: Turtle…
UP AFTER EARNINGS: Turtle Beach (HEAR) up 12.3%... Cloudera (CLDR) up 11.7%... Aptos Biosciences (APTO) up 5.2%. ALSO HIGHER: DXC Technology (DXC) up 16.9% after selling HHS business for $5B. DOWN AFTER EARNINGS: Avid Bioservices (CDMO) down 21.5%... Clean Energy (CLNE) down 14.4%... Vivint Solar (VSLR) down 6.4%... Korn Ferry (KFY) down 2.8%. ALSO LOWER: CareTrust REIT (CTRE) down 6.1% after mixed shelf offering... Hilton (HLT) down 2.4% after withdrawing guidance due to coronavirus. Movers as of 18:15ET.
Avid Bioservices reports Q3 EPS (6c), consensus (4c) » 16:1203/1003/10/20
Reports Q3 revenue…
Reports Q3 revenue $13.6M, consensus $15.42M. "During the third quarter of 2020, Avid strengthened both its project pipeline and backlog, and the fundamentals of the business remained strong," said Rick Hancock, interim president and chief executive officer of Avid. "However, the company faced production challenges during the period related to a problem with a specific piece of equipment which resulted in the termination of in-process manufacturing runs, and the postponement of several other manufacturing runs scheduled to commence during the third quarter. Though we are now implementing the necessary corrections, the temporary production interruption resulted in lower revenue and profits for the third quarter, and we expect it to also impact revenues and profits for the fourth quarter of fiscal 2020. For this reason, we are adjusting our revenue guidance for fiscal 2020 to $55 - $59 million versus our prior guidance of $64 - $67 million. It is our expectation that this problem will be behind us soon, and as such, we anticipate that the impact will be contained to fiscal 2020.
Avid Bioservices appoints Timothy Compton as CCO » 08:0901/0801/08/20
Avid Bioservices (CDMO)…
Avid Bioservices (CDMO) announced the appointment of Timothy Compton as chief commercial officer. In his new role, he will be responsible for driving the continued growth of Avid's CDMO business, including the ongoing expansion of the company's commercial and clinical client base. Compton is replacing Tracy Kinjerski, who has left the company to pursue other opportunities. Compton most recently served as senior director of sales and business development for Cambrex Corporation (CBM).