On Wednesday, U.S. stocks are slumping for a second successive session, after shareholders reviewed a private-sector jobs report released ahead of the opening bell.
The Automatic Data Processing, Inc. report showed the private sector added 212,000 jobs in February, slightly below expectations.
Following stocks are gaining momentum during the recent trade: InfoSonics Corporation (NASDAQ:IFON), PhotoMedex Inc (NASDAQ:PHMD), Coronado Biosciences Inc (NASDAQ:CNDO), Wayfair Inc (NYSE:W)
Details are depicted as follows:
InfoSonics Corporation (NASDAQ:IFON)’s shares picked up 59.88%, and is now trading at $2.75.
InfoSonics Corporation, the provider of verykool® wireless handset solutions and tablets, recently declared results for its fourth quarter and year ended December 31, 2014.
InfoSonics stated net sales for the 2014 fourth quarter of $17.9 million, which represented a $6.1 million, or 51%, raise from $11.9 million for the fourth quarter of 2013. The Corporation stated noteworthy sales growth to customers in Mexico, Peru and the U.S. Unit shipments during the quarter declined by 4% contrast to the preceding year, but the average selling price per unit rose 57%. Net sales for the year ended December 31, 2014 were $48.1 million, which represented a $10.2 million, or 27%, raise over $37.9 million for the 2013 year.
Gross profit in the fourth quarter of 2014 was $3.0 million, a 48% raise contrast to $2.0 million for the comparable period in 2013. The gross profit margin as a percent of sales in the fourth quarter of 2014 declined to 16.5% contrast to 16.9% for the comparable period in 2013. The margin reduction resulted from costs in the quarter associated with the conclusion of projects for internally designed products and related terminations with contract manufacturers, in addition to a higher level of inventory reserves. Gross profit for the year ended December 31, 2014 was $8.3 million, which represented a $1.3 million, or 19%, raise from $6.9 million for the 2013 year.
Operating expenses in the fourth quarter of 2014 were $2.1 million, an raise of $284,000, or 15%, contrast to $1.9 million in the 2013 fourth quarter. This reflects a $422,000, or 26%, raise in SG&A expenses and a $138,000, or 64%, decrease in R&D expenses. The higher SG&A expenses comprise raised personnel, marketing and insurance costs, while the decrease in R&D expenses reflects the wind-down of the Corporation’s China-based development team. Total operating expenses as a percent of sales in the fourth quarter declined from 15.6% in the 2013 fourth quarter to 11.9% in the 2014 fourth quarter. For the year ended December 31, 2014, total operating expenses were $8.0 million, which represented a $120,000, or 1%, decrease from $8.1 million for the 2013 year. As a percent of sales, operating expenses declined from 21.3% in 2013 to 16.6% in 2014.
Net revenue for the fourth quarter of 2014 was $730,000, $0.05 per share, contrast to net revenue of $125,000, $0.01 per share, in the fourth quarter of 2013. Net revenue for the year ended December 31, 2014 was $261,000, $0.02 per share, contrast to a net loss of $597,000, $0.04 per share, in the 2013 year.
At December 31, 2014, the Corporation had $1.5 million in cash, $15.9 million of net working capital and $2.7 million of outstanding bank debt.
InfoSonics is a San Diego-based manufacturer and provider of wireless handsets, tablets and related products to carriers, distributors and consumers in the United States and Latin America under the verykool® brand.
PhotoMedex Inc (NASDAQ:PHMD), raised 31.15%, and is now trading at $2.35. The stock has the beta value of 0.38, and its volatility for the week is 8.61%, while for the month it is 9.35%. The company has the market capitalization of $43.43M. The mean recommendation of analysts for this stock is 2.70.(where 1=Buy, 5=Sale).
PhotoMedex, Inc., a skin health corporation, provides integrated disease administration and aesthetic solutions to dermatologists, professional aestheticians, and consumers in North America, the Asia Pacific, Europe, and South America.
Coronado Biosciences Inc (NASDAQ:CNDO), enhanced 19.29%, and is now trading at $3.34, hitting new 52-week high of $3.73.
Coronado Biosciences, Inc., (CNDO) declared the formation of a new partner corporation, Checkpoint Therapeutics, Inc., to develop a portfolio of fully human immuno-oncology targeted antibodies generated in the laboratory of Dr. Wayne Marasco, MD, PhD, a Professor in the Department of Cancer Immunology and AIDS at Dana-Farber Cancer Institute (Dana-Farber). Dr. Marasco will chair the Scientific Advisory Board of the Corporation. Under the terms of the contract, Checkpoint will pay Dana-Farber an up-front licensing fee in addition to development and sales-based milestone payments and royalties on net sales.
The portfolio of antibodies licensed from Dana-Farber comprises antibodies targeting PD-L1, GITR and CAIX. Checkpoint plans to develop these novel immuno-oncology and checkpoint inhibitor antibodies on their own and in combination with each other, as data suggests that combinations of these targets can work synergistically together. Clinical trials are predictable to start in the second half of next year.
In connection with the license contract with Dana-Farber, Checkpoint Therapeutics reached a partnership contract with TG Therapeutics, Inc. (TGTX) to develop and commercialize the Anti-PD-L1 and Anti-GITR antibody research programs in the field of hematological malignancies. Checkpoint retains the right to develop and commercialize these antibodies in solid tumors. Both programs are presently in pre-clinical development. Under the terms of the contract, TG Therapeutics will pay Checkpoint an up-front licensing fee in addition to make development and sales-based milestone payments and will pay a tiered single digit royalty on net sales.
Coronado Biosciences is a biopharmaceutical corporation dedicated to investing in, acquiring, developing and commercializing novel pharmaceutical products. The Corporation’s portfolio comprises novel immunotherapy agents for the treatment of autoimmune diseases and cancer.
Wayfair Inc (NYSE:W), rose 15.64%, and is now trading at $29.20.
Today, Wayfair Inc. (NYSE:W), one of the world’s largest online destinations for home furnishings and décor, stated financial results for its fourth quarter and full fiscal year ended December 31, 2014.
Fourth Quarter 2014 Financial Highlights:
- Net proceed raised to $408.6 million, up 38.4% year over year
- Direct Retail proceed, compriseing of sales generated primarily through the sites of Wayfair’s five brands, raised to $346.7 million, up 55.2 % year over year
- Gross profit was $98.4 million or 24.1% of proceed, contrast to 23.9% of proceed in the same quarter last year
- Adjusted EBITDA was $(7.2) million
- GAAP basic and diluted net loss per share was $0.73
- Non GAAP diluted net loss per share was $0.18
- Non GAAP free cash flow was $50.8 million
- At the end of the Fourth Quarter, cash, cash equivalents, and short-term investments totaled $415.9 million.
Full Year 2014 Financial Highlights:
- Net proceed raised to $1.3 billion, up 44.0% year over year,
- Direct Retail proceed raised to $1.1 billion, up 63.6% year over year,
- Adjusted EBITDA was $(62.5) million,
- Non GAAP diluted net loss per share was $1.02 for the year,
- Non GAAP free cash flow for the year was $(41.9) million.
Wayfair Inc. offers an extensive selection of home furnishings and décor across all styles and price points. Wayfair is headquartered in Boston, Massachusetts, with additional locations in New York, Ogden, Utah, Hebron, Kentucky, Galway, Ireland, London, Berlin and Sydney.
