Latest News for Evolva Holding Stock (OTC:ELVAF)

Evolva Holding SA research, develops and commercialises high quality ingredients with applications in flavour & fragrancies, health ingredients, health protection and other sectors.

Evolva Holding SA

Everest Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>) reported quarterly earnings of $16.87 per share which beat the analyst consensus estimate of $16.01 by 5.37 percent. The company reported quarterly sales of $4.13 billion which beat the analyst consensus estimate of $3.92 billion by 5.39 percent. This is a 33.32 percent increase over sales of $3.10 billion the same period last year.

Earnings

Earnings Beats

News

Everest Group Q1 2024 Adj EPS $16.87 Beats $16.01 Estimate, Sales $4.13B Beat $3.92B Estimate

WIIM

NXPI

NXP Semiconductors shares are trading higher after the company reported better-than-expected Q1 financial results and issued guidance.

Full Year 2023 Financial Highlights
<ul>
<li>Revenues of RMB1,474 million (US$208 million), representing a 92.3% increase versus 2022.</li>
<li>Gross margin of 28.4%, representing a 32bps increase versus 2022.</li>
<li>Net income of RMB78 million (US$11 million), representing a 115% increase versus 2022.</li>
</ul>

LGCL

Lucas Announces FY23 Revenue $208M, Up 92.3% YoY

Park-Ohio Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PKOH#NASDAQ">PKOH</a>) reported quarterly earnings of $0.85 per share which beat the analyst consensus estimate of $0.79 by 7.59 percent. This is a 18.06 percent increase over earnings of $0.72 per share from the same period last year. The company reported quarterly sales of $417.600 million which missed the analyst consensus estimate of $436.750 million by 4.38 percent. This is a 1.39 percent decrease over sales of $423.500 million the same period last year.

Earnings Misses

PKOH

Park-Ohio Hldgs Q1 2024 Adj EPS $0.85 Beats $0.79 Estimate, Sales $417.600M Miss $436.750M Estimate

Guidance

WELL

Welltower Updates FY24 Normalized FFO From $3.95-$4.10 To $4.02-$4.15 Vs $4.05 Est.

LL Flooring shares are trading higher after the company announced it received a non-binding proposal to acquire all of the outstanding shares of the company for $2.50 per share. The company also announced a cooperation agreement signed with Live Ventures on director nominations.

OpGen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPGN#NASDAQ">OPGN</a>, "OpGen" or "the Company")))) announced today that it entered into an agreement to sell its commercial customer contracts and installed base of Unyvero systems to Camtech Pte Ltd ("Camtech"), a Singaporean family office for $218,000. The transaction follows Camtech's prior acquisition of all of Curetis GmhH's ("Curetis"), the Company's subsidiary, Unyvero assets, rights and businesses, as part of Curetis' insolvency proceedings. &nbsp;
In addition, the Company's subsidiary, Ares Genetics GmbH, sold all of its assets, including the ARESdb database and intellectual property portfolio to bioMerieux S.A., as part of Ares Genetics' insolvency proceedings. Since the sales of both Curetis and Ares Genetics' assets occurred as part of their insolvency proceedings, OpGen did not participate or have any involvement in such transactions.
OpGen plans to work with Camtech and the Curetis team during the upcoming months to transfer and transition its U.S. Unyvero customers and business.&nbsp;OpGen also offered Camtech the opportunity to acquire its remaining inventory of Unyvero systems for up to an additional $176,000. Until such sale for the remaining inventory is completed, OpGen will maintain commercial operations and service support for the Unyvero systems.
The Chairman and CEO of OpGen, David Lazar, commented: "These transactions are consistent with our strategy of preparing OpGen for a potential strategic transaction, including a potential reverse merger of a private company into OpGen. We believe a strategic transaction would be an attractive proposition to OpGen stockholders who could benefit from future value growth."

Asset Sales

OPGN

OpGen Entered Into An Agreement To Sell Its Commercial Customer Contracts And Installed Base Of Unyvero Systems To Camtech Pte Ltd For $218,000

ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) stock was trading higher by more than 4% on Monday after the Scottsdale, Arizona-based company reported <a href="https://www.benzinga.com/news/earnings/24/04/38494497/why-is-on-semiconductor-stock-trading-higher-on-monday">a first-quarter earnings beat</a>.
The company, currently trading at $70.82 a share, delivered a 3.85% surprise on EPS and a 0.70% surprise on revenue.
ON Semiconductor&#8217;s Q1 revenue came in at $1.86 billion. Adjusted EPS was reported as $1.08, driven by stability in traditional industrial segments.
JPMorgan analyst Harlan Sur remains bullish, despite ON Semiconductor&#8217;s navigating a challenging cyclical trough.
Sur&#8217;s price target is $85 for December 2024 and implies a significant upside potential. His bullish outlook is based on the semiconductor company&#8217;s ability to weather the current market challenges and emerge stronger in the second half of the year.
Q2 outlook remains cautious. Revenues are expected to decline 7% Q/Q due to &#8220;broad-based end market weakness and soft China orders post CNY.&#8221; 
But Sur sees this as a temporary setback.
&#8220;After the negative revenue reset, we believe Jun-Qtr represents the cycle bottom for ON,&#8221; anticipating a rebound in the H2 of the year, he said. 
Sur attributes his optimism toward the second half of the year to &#8220;stabilization in its core silicon semiconductor business combined with a stronger 2H silicon carbide business as the EV new model pipeline unfolds (Europe/China OEMs).&#8221;
He also points to the company&#8217;s silicon carbide (SiC) manufacturing ramp as a sign of resilience and long-term growth potential.
Multiple tailwinds for gross margins going forward include:
<ul>
<li>&#8220;unwinding of 100bps of EFK headwinds, </li>
<li>cost savings from prior fab consolidations ($160M), and </li>
<li>manufacturing utilization recovery.&#8221;</li>
</ul>
Overall, Sur&#8217;s confidence in ON Semiconductor&#8217;s future is a testament to the company&#8217;s strategic positioning and execution capabilities, making it a compelling investment opportunity despite near-term headwinds.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38500447/teslas-robotaxi-plans-potential-threat-or-future-partner-for-uber">Tesla&#8217;s Robotaxi Plans &#8211; Potential Threat Or Future Partner For Uber?</a>

Analyst Color

Long Ideas

Analyst Ratings

Tech

Trading Ideas

ON Semiconductor At 'Cyclical Trough' After Q1 Earnings Beat, Analyst Sees 25% Upside

Vicarious Surgical (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBOT#NYSE">RBOT</a>) reported quarterly losses of $(0.09) per share which beat the analyst consensus estimate of $(0.10) by 10 percent. This is a 47.06 percent increase over losses of $(0.17) per share from the same period last year.

RBOT

Vicarious Surgical Q1 2024 Adj EPS $(0.09) Beats $(0.10) Estimate

SMPL

The Simply Good Foods Company Says We Expect OWYN Will Achieve Net Sales Of ~$120M

In a leaked recording that has sparked attention on social media, New Mexico Governor Michelle Lujan Grisham (D) expressed frustration with Alejandro Mayorkas, U.S. Secretary of Homeland Security, over the recent raids on licensed cannabis businesses in the state. 
The recording&#8217;s <a href="https://www.politico.com/news/2024/04/26/new-mexico-governor-cannabis-seizures-recording-00154711">authenticity </a>was verified by POLITICO. Despite Gov Lujan Grisham&#8217;s calls to halt these actions, Secretary Mayorkas&#8217;s response, as captured in the recording, was dismissive: "The secretary said to me, just so you know: ‘Who cares? They make a lot of money,'" she said referring to the secretary's comment about the state's licensed cannabis industry. "I thought that was really inappropriate."
<h3 class="wp-block-heading">Increasing Raids on Licensed Cannabis Businesses</h3>
The cannabis industry in New Mexico is under increasing pressure as US Customs and Border Patrol (CBP) seizures intensify. The <a href="https://www.facebook.com/NMCannaChamber/">New Mexico Cannabis Chamber of Commerce </a>reports that seizures have heavily impacted 15 licensed businesses, with losses amounting to $300,000 in 2024 alone. Despite the legal status of marijuana under New Mexico state law, Border Patrol insists that federal law, which classifies marijuana as illegal, takes precedence. This has led to the CBP producing dozens of detentions among cannabis transporters, which explains the losses, as there is no mechanism available to retrieve the confiscated products or receive compensation for them.
<h3 class="wp-block-heading">State Government To Protect Local Industry</h3>
The <a href="https://www.benzinga.com/markets/cannabis/24/04/38190558/biden-slammed-for-inaction-as-feds-raid-licensed-marijuana-businesses-rep-blumenauer-urges-swift">escalating situation </a>has prompted significant concern among cannabis business managers, urging state intervention. Lujan Grisham, a proponent of legal cannabis, has been vocal about her concerns. According to her spokesperson Michael Coleman, while Secretary Mayorkas has reassured that federal policies regarding legalized cannabis remain unchanged, the state is devising strategies to safeguard its cannabis industry.
<h3 class="wp-block-heading">Political Motives Suspected Behind Raids</h3>
The leaked audio reveals Lujan Grisham&#8217;s questioning the motives behind these consistent raids, suggesting a possible political agenda. The state government is pointing out the fact that no other border state with legal cannabis has faced similar federal actions, describing it as a stark deviation from the federal government&#8217;s previously passive stance on state-legal cannabis activities.
Border Patrol clarified their stance, stating, &#8220;While medical and recreational marijuana may be legal in some U.S. states and Canada, it remains illegal under U.S. federal law. Individuals found violating the Controlled Substances Act may face inadmissibility, seizure, fines, or arrest.&#8221;
<h3 class="wp-block-heading">&#8220;I´m boxed in&#8221;</h3>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">EXCLUSIVE AUDIO <a href="https://t.co/WrRqlc6MQc">pic.twitter.com/WrRqlc6MQc</a>
&mdash; Chaos Coordinator (@idontexistTore) <a href="https://twitter.com/idontexistTore/status/1783651831643574381?ref_src=twsrc%5Etfw">April 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">The recording was first made public by this X account</figcaption></figure>
Lujan Grisham expressed her reluctance but readiness to escalate the matter publicly, indicating she might issue a formal accusation against Secretary Mayorkas for targeting the state&#8217;s legal cannabis operations. &#8220;And I don't want to send that letter, but I'm boxed in,&#8221; she conveyed her constrained position in the recording.
<a href="https://www.benzinga.com/markets/cannabis/24/04/38149326/gop-senator-calls-out-security-threat-at-border-due-to-customs-agencys-cannabis-policies-for-age">This development signals growing tensions between state rights and federal law enforcement concerning the cannabis industry in New Mexico</a>, so stay tuned for updates.

Cannabis

Government

Regulations

Politics

Markets

New Mexico Governor Lujan Grisham Confronts Homeland Security Over Marijuana Raids In Leaked Audio

Welltower (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>) reported quarterly earnings of $1.01 per share which beat the analyst consensus estimate of $0.95 by 6.32 percent. The company reported quarterly sales of $1.859 billion which beat the analyst consensus estimate of $1.806 billion by 2.93 percent. This is a 19.09 percent increase over sales of $1.561 billion the same period last year.

Welltower Q1 2024 FFO $1.01 Beats $0.95 Estimate, Sales $1.859B Beat $1.806B Estimate

Woodward shares are trading higher after the company reported better-than-expected Q2 financial results.

<ul>
<li>Adds a fast-growing, on trend, ready-to-drink protein shake brand to Simply Good Foods' portfolio &nbsp;</li>
<li>A scalable, growth-oriented complementary brand with a large and growing addressable market</li>
<li>OWYN is the leading plant-based, allergen-free RTD protein shake in the marketplace</li>
<li>Management will host a conference call and webcast today at 5:00 p.m. ET</li>
</ul>
DENVER and NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- The Simply Good Foods Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMPL#NASDAQ">SMPL</a>) ("Simply Good Foods," or the "Company"), a developer, marketer and seller of branded nutritional foods and snacking products, and Only What You Need ("OWYN"), a leading plant-based ready-to-drink ("RTD") protein shake brand, today announced that the companies have entered into a definitive agreement under which Simply Good Foods will acquire OWYN for $280 million in cash.
Only What You Need is the fastest growing1 RTD protein shake brand in the market and enhances Simply Good Foods' portfolio with further diversification and provides the Company with a greater presence within the RTD protein shake segment. The addition of OWYN, which Simply Good Foods will acquire from existing investor United Nutritional Brands, an affiliate of Purchase Capital LLC, and other minority investors, builds on Simply Good Foods' leadership position within the nutritional snacking category.
"The acquisition of Only What You Need is strategically compelling as it brings a third, complementary brand to Simply Good Foods and further enhances our presence in the fast-growing RTD shake segment," said Geoff Tanner, President and Chief Executive Officer of Simply Good Foods. "Additionally, OWYN reaches a new, incremental consumer segment which strengthens our category leading presence with retail customers. We are confident our go-to-market capabilities will accelerate profitable growth through accelerated distribution gains, increased household penetration and leveraging our cost-efficient supply chain. We'll also look to leverage the knowledge of our collective R&amp;D teams to continue to enhance core product performance and unlock white-space growth opportunities in other forms. Over the last few years, OWYN's net sales growth rate has been top tier within the nutritional snacking category. In 2024, we expect OWYN will achieve net sales of approximately $120 million.2 They have strong relationships with blue-chip customers in both measured and natural channels and have an impressive, profitable and growing Ecommerce business. Upon the transaction's closing, we look forward to working with Mark Oliveri, President and Chief Executive Officer of OWYN, and his leadership team. As we proceed through integration and become one Company, Mark will continue in his role and lead the OWYN team as we look to grow the brand."
"Since OWYN's launch in 2017, our goal has been to bring truth and transparency to everything we do while providing the best tasting RTD protein shakes in the market," said Mark Oliveri, President and Chief Executive Officer of OWYN. "This transaction is a continuation of our mission as Simply Good Foods is also committed to providing its consumers with quality products focused on high protein, minimal sugars and low levels of net carbohydrates. I'm extremely proud of everything the OWYN team has accomplished in establishing a $120 million2 dollar brand in such a short time," Oliveri concluded.
____________________________________ 1Source: Total MULO Dollar Sales for the 52 Week Period Ending March 24, 2024 2Estimated twelve months ending December 31, 2024
"We're excited that OWYN will become part of Simply Good Foods," said Nicholas J. Singer, Founder and Managing Partner of Purchase Capital. "This transaction will enable OWYN to leverage Simply Good Foods' sales, marketing and go-to-market capabilities and positions the brand to reach the next level of growth."
Compelling Strategic and Financial Benefits
Adds Attractive High Protein RTD Shake Brand with a Differentiated Position
<ul>
<li>A uniquely positioned brand in the fast-growing high protein RTD segment of the Nutritional Snacking category</li>
<li>Distinctive brand with a highly engaged, passionate core consumer and, increasingly, mainstream appeal</li>
<li>Great tasting, plant-based and allergen-free credentials that address a growing consumer need &nbsp;</li>
</ul>
Growth-oriented, Scalable Brand that is Complementary to Simply Good Foods
<ul>
<li>Enhances portfolio with further diversification and provides the Company with increased presence in the RTD shake segment</li>
<li>Targets a complementary incremental consumer to existing business</li>
<li>Similarities in go-to-market model should result in improved operating efficiencies, enhanced brand awareness and increased distribution</li>
<li>Opportunity for product enhancements and form innovation leveraging collective R&amp;D capabilities</li>
<li>The transaction delivers on key growth criteria with significant cost synergies, driven by G&amp;A and supply chain efficiencies &nbsp;</li>
</ul>
Financial Overview, Terms and Financing The strategic acquisition of OWYN, which is expected to achieve net sales of approximately $120 million2 provides Simply Good Foods with additional scale and is complementary to the Company's long-term algorithm. In the short term, the Company expects the contribution of OWYN to be below the Company margins as the Company invests in the business and achieves synergies through integration. The transaction is expected to be approximately neutral to Adjusted Diluted Earnings Per Share3 in the year subsequent to closing, excluding one-time integration expenses and costs to achieve synergies.
Under the terms of the agreement, the $280 million purchase price will be paid in cash and represents a purchase price multiple of approximately 2.3x3 estimated net sales and 13.3x2 estimated Adjusted EBITDA,3 including run-rate synergies.
Simply Good Foods intends to finance the transaction by using approximately $50 million of cash on its balance sheet as well as committed financing from Barclays and Deutsche Bank. Projected trailing twelve-month Net Debt to Adjusted EBITDA3 leverage is expected to be about 1.5x, or less, at closing.
The transaction has been approved with unanimous support by the Board of Directors of Simply Good Foods and by the governing bodies of OWYN and is expected to close by the end of fiscal year 2024, subject to satisfaction of customary closing conditions and receipt of regulatory clearance.

The Simply Good Foods Company To Acquire Only What You Need (OWYN) For $280M In Cash

Morgan Stanley Capital Protected Notes for S&P 500 Index

Morphosys Group Ag Anticipates Close Of Proposed Acquisition By Novartis In H1 2024, Submit A New Drug Application For Pelabresib In Combination With Ruxolitinib In Myelofibrosis To FDA And Marketing Authorization Application To European Medicines Agency In H2 2024.

Brixmor Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRX#NYSE">BRX</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.51 by 5.88 percent. The company reported quarterly sales of $320.241 million which beat the analyst consensus estimate of $314.470 million by 1.84 percent. This is a 2.82 percent increase over sales of $311.444 million the same period last year.

Brixmor Property Group Q1 2024 FFO $0.54 Beats $0.51 Estimate, Sales $320.241M Beat $314.470M Estimate

MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) reported its first-quarter financial results after the bell Monday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38501850/microstrategy-announces-first-quarter-2024-financial-results-now-holds-214-400-btc">look at the details.&nbsp;</a>
The Details:
MicroStrategy reported quarterly non-GAAP losses of $8.26 per share. Quarterly sales came in at $115.2 million which missed the analyst consensus estimate of $121.725 million by 5.36% and represents a 5.51% decrease year-over-year. The company now holds 214,400 bitcoins. 
As of March 31, 2024, the carrying value of MicroStrategy&#8217;s digital assets (comprised of approximately 214,278 bitcoins) was $5.074 billion, which reflects cumulative impairment losses of $2.461 billion since acquisition and an average carrying amount per bitcoin of approximately $23,680. The original cost basis and market value of the company&#8217;s bitcoin were $7.535 billion and $15.220 billion, respectively, which reflects an average cost per bitcoin of approximately $35,164 and a market price per bitcoin of $71,028.14, respectively. 
&#8220;As the world&#8217;s first Bitcoin Development Company, MicroStrategy is committed to the continued development of the bitcoin network through our activities in the financial markets, advocacy and technology innovation,&#8221; said Andrew Kang, CFO of MicroStrategy. 
&#8220;It is through our unique bitcoin strategy and solid track record as an operating company that we now hold 214,400 bitcoins at an average purchase price of $35,180 per bitcoin. In the first quarter, our subscription services revenues and subscription billings both grew again at double-digit growth rates reflecting the continued successful transition of our software business to a cloud-native platform. We are very pleased with the continued global adoption of our cloud platform,&#8221; Kang added. 
Related News: <a href="https://www.benzinga.com/news/24/04/38499888/whats-going-on-with-super-micro-computer-stock-ahead-of-earnings">What&#8217;s Going On With Super Micro Computer Stock Ahead Of Earnings?</a>
MSTR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, MicroStrategy shares are down 2.78% after-hours at $1,257.00 at the time of publication Monday.
Image:&nbsp;Master Tux from Pixabay

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Movers

MSTR

MicroStrategy Reports Q1 Results, Company Holds 214,400 Bitcoins

Jeff Cote to Retire as CEO and President; Martha Sullivan Appointed Interim President and CEO
Phillip Eyler Appointed to Board of Directors
Board Forms CEO Search Committee to Identify Permanent CEO
Enters into Cooperation and Information Sharing Agreements with Elliott
Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) today announced that Jeff Cote, Chief Executive Officer and President of Sensata Technologies, has informed the Board of Directors of his intention to retire as CEO and President and step down as a member of the Sensata Board, effective April 30, 2024. The Board of Directors has appointed Martha Sullivan as Interim President and CEO and has established a CEO Search Committee to identify a new permanent CEO.
CEO Transition
Regarding Jeff Cote's decision to retire, Sensata Chairman Andrew C. Teich said, "Sensata is a strong, profitable business that is well-positioned for a bright future in an increasingly electrified world. The Board is grateful for Jeff's dedication and leadership in positioning the Company to benefit from these opportunities, and we wish him the best in his retirement."
"I am proud of the progress we have made in helping our customers solve their most challenging engineering and operational issues," said Cote. "I want to thank our customers, employees, and our shareholders. It was an honor to work alongside Team Sensata as we strove every day to create capabilities that helped transform our end-markets, and position Sensata as a trusted partner."
Regarding Martha Sullivan's appointment as Interim President and CEO, Teich added, "Martha's previous experience as Sensata's CEO and service as a Board member makes her ideally qualified to assume the Interim CEO role. We are confident that under her leadership, Sensata's talented team will continue to deliver for our customers and our shareholders as we work to identify and hire our next CEO."
"It is a privilege to lead Sensata and work alongside our incredibly talented team once again," said Sullivan. "I am committed to a smooth transition and nurturing the momentum underway as we continue to deliver trusted sensor-rich solutions to our customers."
The CEO Search Committee is initially comprised of current Sensata Board directors, Andrew Teich, Martha Sullivan, and John Mirshekari. The Committee will undertake the search with the assistance of a leading executive search firm.

Management

Sensata Technologies Announces Jeff Cote To Retire As CEO And President; Martha Sullivan Appointed Interim President And CEO; Enters Into Cooperation And Information Sharing Agreements With Elliott

Schmidt will succeed Jerald K. Dittmer who has announced his resignation from the position of Chief Executive Officer effective June 30, 2024, and retirement from Flexsteel on December 31, 2024.

FLXS

Flexsteel Industries Appoints Derek P. Schmidt As President And CEO, Effective July 1, 2024

Pathfinder Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBHC#NASDAQ">PBHC</a>) reported quarterly earnings of $0.34 per share. This is a 20.93 percent decrease over earnings of $0.43 per share from the same period last year.

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Latest News for Evolva Holding Stock (OTC:ELVAF)

Thursday, April 23, 2015