Barnes & Noble Education [BNED] - Last Close: $1.72
Barnes & Noble Education is up after a strong earnings report.
The college bookstore operator released its fiscal Q3 2023 earnings report on Thursday evening, and the results surprised analysts.
Barnes & Noble Education reported a loss of $(0.48) per share, missing the Street's estimate of a $(0.07) per share loss by a wide margin.
However, the company's top-line sales figure came in at $447.1 million and easily beat analysts' $397.1 million estimate.
The company also announced its entrance into a sixth amendment to its credit agreement & a first amendment to its term loan credit agreement.
BNED is up 19.1% in today's premarket.
My Take: BNED's big earnings miss is a little disconcerting, especially considering their revenues were much stronger than expected. Share prices recently fell below a positive trend line that had been intact since December. Maybe this rally can help it straighten the ship.
Molecular Templates [MTEM] - Last Close: $0.47
A key drug approval is boosting shares of Molecular Temple.
Late Thursday, the clinical-stage biopharma firm announced the FDA had approved its new drug application for MT-8421 in certain tumor patients.
The approval clears the way for clinical testing of MT-8421 ETB program targeting CTLA-4 in patients with relapsed or refractory solid tumors.
In its press release, Molecular Templates also said it plans to launch a first-in-human Phase 1 study of the drug by mid-2023.
MTEM is one of this morning's top stocks with a 31.9% gain on active premarket trading volume.
My Take: MTEM could be worth watching in the coming weeks. It's been trading sideways since the beginning of February, and MT-8421's continued clinical development could provide several opportunities for additional catalysts.
Bird Global [BRDS] - Last Close: $0.18
Bird Global is pushing higher on an earnings beat.
The tiny micro-mobility company reported its Q4 & full-year 2022 results early this morning, and the market likes what it sees.
Bird Global reported quarterly sales of $69.70 million and beat the consensus estimate of $53.38 million by 30.5%.
The company's full-year revenues grew 28% compared to last year, but it reported a substantial operating loss of $(1.21) per share.
BRDS is up 28.6% on active trading volume in the wake of the strong earnings report.
My Take: This was a nice pop for this tiny stock, but I am not exactly sold on this company's long-term outlook. It's nowhere near profitable, and the micro-mobility business is struggling as a whole.
