Markets
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Comtech Telecom Q3 Revenues Miss Street, Cuts FY Outlook; Shares Down 8%
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
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(RTTNews) – Shares of Comtech Telecommunications Corp. (CMTL) slipped nearly 8% in extended trading hours on Tuesday after the company’s third-quarter revenues fell short of expectations and lowered its full-year sales outlook. Third-quarter net income was $792 thousand or $0.03 per share, compared to net loss of $4.0 million or $0.16 per share last year. Analysts polled by Thomson Reuters expected a loss of $0.01 per share. Sales for the third quarter rose to $139.4 million from $135.1 million last year. Analysts had a consensus revenue estimate of $140.39 million. Looking forward, Comtech expects fiscal 2021 sales to be in a range of $580.0 million to $590.0 million. Previously, the company expected sales of $610.0 million to $620.0 million. The company said it updated its outlook to primarily reflect a change in anticipated revenues in its Government Solutions segment due to the U.S. government’s April 2021 announcement to fully withdraw troops from Afghanistan as well as other program changes. CMTL closed Tuesday’s trading at $25.66, up $0.95 or 3.84%, on the Nasdaq. The stock, however, slipped $2.02 or 7.89%, in the after-hours trade.
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US stocks gain to near-record levels as yields fall to 1-month low
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
Spencer Platt/Getty Images
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HSBC has hired 8 traders for its credit division, including a team lift-out from from Credit Suisse, circling the wagons after a wave of defections
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
HSBC has made a score of hires to bolster its credit division. Remy de la Mauviniere/AP
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Microsoft is dipping its toes back into physical retail, as it plans to quietly restart retail sales at its flagship New York City store
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
Microsoft delivers strong earnings. Cindy Ord/Getty Images
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The 2021 job market is more competitive than any postrecession market in recent memory. Here's how both recruiters and job seekers should handle it.
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
A “help wanted” sign on a window of a restaurant in Miami. Joe Raedle/Getty Images
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Anti-lockdown California café owner is charging customers $5 if they wear masks but says he will donate the money to charity
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
California governor Gavin Newsom Jane Tyska: Digital First Media: East Bay Times via Getty Images
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Twitter taught me, a young Nigerian journalist, that you're never alone. Now the government has banned it, threatening my livelihood.
- June 9, 2021
- Posted by: Stratford Team
- Category: Markets
Twitter played a key role in Nigeria’s #EndSARS protests last year, which called for the abolition of a brutal police unit. Adekunle Ajayi/NurPhoto via Getty Images
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Apple's new software features focus on post-pandemic life. Here's what's getting an update.
- June 8, 2021
- Posted by: Stratford Team
- Category: Markets
Apple kicked off its annual WWDC conference for developers with a keynote address showing off its new software features. Apple
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Investors may be over preparing for rising inflation while a 'transitory tantrum' looms, Morgan Stanley says
- June 8, 2021
- Posted by: Stratford Team
- Category: Markets
Headline consumer price inflation is at its highest in more than 10 years. Richard Drew/Associated Press
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Incyte Says FDA Extends Review Period For Ruxolitinib SNDA – Quick Facts
- June 8, 2021
- Posted by: Stratford Team
- Category: Markets
(RTTNews) – Biopharmaceutical company Incyte Corp. (INCY) announced Tuesday that the U.S. Food and Drug Administration (FDA) has extended the review period for the supplemental New Drug Application (sNDA) for ruxolitinib (Jakafi) for the treatment of adult and pediatric patients 12 years and older with steroid-refractory chronic graft-versus-host disease (GVHD). The Prescription Drug User Fee Act (PDUFA) target action date is now extended by three months to September 22, 2021 to allow time to review additional data submitted by Incyte in response to the FDA’s information request. The sNDA was based on data from REACH3, a Phase 3 randomized, open-label, multicenter study comparing ruxolitinib with best available therapy (BAT) in adult and pediatric patients 12 years and older with steroid-refractory chronic GVHD. Jakafi is marketed by Incyte in the U.S. and by Novartis as Jakavi (ruxolitinib) outside the U.S. Jakafi is a first-in-class JAK1/JAK2 inhibitor approved by the U.S. FDA for the treatment of polycythemia vera (PV) in adults.
