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Endeavour Silver (EXK) – First Quarter Earnings Exceed Expectations; Project Milestones Draw Near

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Thursday, May 12, 2022

Endeavour Silver (EXK)
First Quarter Earnings Exceed Expectations; Project Milestones Draw Near

Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

First quarter results exceed expectations. Endeavour Silver reported first quarter net earnings of $11.7 million, or $0.07 per share, compared to an adjusted net loss of $4.5 million, or $(0.03) per share during the prior year period. We had forecast net income of $8.4 million, or $0.05 per share. The company generated adjusted EBITDA of $27.1 million compared to $8.3 million during the prior year period and our estimate of $17.1 million. Variances to our estimate included lower direct production costs and $6.6 million of other income, including foreign exchange and investments. Revenue of $57.7 million was modestly ahead of our $57.2 million estimate.

Updating estimates. While we are maintaining our 2022 EPS estimate, we have increased our EBITDA estimate to $67.8 million from $60.6 million. Our revised estimates reflect lower direct production costs and higher depreciation, depletion, and amortization….

This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

InPlay Oil (IPOOF) – Results surpass expectations once again

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Thursday, May 12, 2022

InPlay Oil (IPOOF)
Results surpass expectations once again

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2022-1Q results surpass expectations. Production levels continue to soar as the company executes a robust drilling program. Production was 8,221 boed up 66% and above our 8,000 boed estimate. Realized prices of $97.5 per barrel and $5.18 per thousand cubic feet (mcf) were up sharply from last year but slightly below that in our models. Resulting operating income of $34.1 million and adjusted funds from operations of $29.4 million were in line with expectations.

This is just the beginning for InPlay. The company was very active in the quarter, drilling six wells.  InPlay will continue to be active in the June quarter drilling five wells, three of which should come online in the second quarter. Management indicates a payback of three months for the wells at current prices. At such a rate of return, expanding drilling efforts is an easy decision. Rising costs, including steel and crew costs, have yet to significantly impact well drilling costs but bear watching….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Endeavour Silver Releases 2021 Sustainability Report

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Endeavour Silver Releases 2021 Sustainability Report

Research, News, and Market Data on Endeavour Silver


VANCOUVER, British Columbia, May 12, 2022 (GLOBE NEWSWIRE) —
Endeavour Silver Corp. (“Endeavour” or the “Company”) (TSX: EDR, NYSE:
EXK) today published its 
2021 Sustainability
Report entitled “Bridge to the Future”. The report details the Company’s commitment to transparently disclose its targets and performance, while maintaining industry-leading corporate governance practices, and having a positive environmental and social impact while generating long-term value for all stakeholders.

“Despite the challenges of the persisting COVID-19 pandemic, we are proud of our 2021 performance, surpassing our key sustainability targets and addressing environmental and social issues that matter to our stakeholders,” stated Dan Dickson, CEO of Endeavour Silver. “We recognize that sustainability is imperative for our long-term success, including financial success. This year’s report, ‘Bridge to the Future’ speaks to our ongoing actions to help shape a more inclusive and sustainable tomorrow in which both our business and our stakeholders can prosper.”

The 2021 Sustainability Report and related performance tables are available on Endeavour’s 
website . Additionally, the Company is pleased to share a short video with CEO, Dan Dickson, as he talks about the past year’s achievements and future plans. The Endeavour blog also showcases recent stories of sustainability in action.

Earlier this year, Endeavour released its Sustainability Strategy 2022-2024 to further enhance the Company’s sustainability practices and impacts. Added Mr. Dickson: “Our three-year Sustainability Strategy charts our path to economic and social well-being, as we invest into the next phase of growth for the Company. By setting meaningful targets, we are confident that we will enhance our sustainability practices.”

2021 Performance Highlights
(All dollar amounts presented below are in U.S. dollars.)

Increasing Positive Social Impacts for Our People

  • Achieved a 42% reduction in the Reportable Injury Rate (RIR)
  • Provided an average of 44 hours of training to employees and contractors
  • Contributed $302,000 in community donations to help build resilient and thriving communities
  • Launched a company-wide program for mental health, with 50% of employees participating in mental health resources including counselling services

Elevating Environmental Stewardship of Our Planet

  • Reduced absolute greenhouse gas emissions intensity by 12% due to improved operating efficiencies
  • Planted 55,000 trees in reforestation projects to reclaim disturbed ground
  • Recycled 93% of water used in our operations
  • Reduced hazardous waste intensity by 21%

Leading a Healthy, Long Term Business

  • Developed a 3-year Sustainability Strategy that sets priorities and targets in three focus area: people, planet and business
  • 100% of our employees completed training on our Code of Business Conduct & Ethics
  • Spent $165 million on goods and services, 98.8% of which was from within Mexico.
  • Launched the “Endeavour Trust Line” to give stakeholders an online channel for reporting concerns https://edrsilver.com/about-endeavour/ethics-hotline/

The 2021 Sustainability Report is prepared in accordance with the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) framework and the United Nations Sustainable Development Goals (SDGs). A Spanish version of the report will be available online in June 2022.

About Endeavour Silver – Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information
Trish Moran
Interim Head of Investor Relations
Tel: (416) 564-4290
Email: pmoran@edrsilver.com

Website: 
www.edrsilver.com


Cocrystal Pharma (COCP) – Influenza Trial Continues With New Clinical Trials Planned For COVID-19

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Thursday, May 12, 2022

Cocrystal Pharma (COCP)
Influenza Trial Continues With New Clinical Trials Planned For COVID-19

Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Cocrystal Reported 1Q22 With Pipeline Updates.  Cocrystal reported a 1Q22 loss of $4.2 million or $(0.04) per share.  The company reviewed its recent clinical progress, including its ongoing Phase 1 study of CC-42344 in influenza and plans to initiate two Phase 1 studies of CC-45205 in COVID-19.  Cash at the end of 1Q22 was $54.8 million.

Influenza programs.  Cocrystal reported Phase 1 data from the CC-42344, its oral PB2 inhibitor for pandemic and seasonal influenza A.  The first two cohorts of healthy adults receiving escalating doses of 100 mg and 200 mg, reported positive safety and pharmacokinetic data.  This Phase 1 dose escalation trial began in March 2022 in Australia, with additional cohorts continuing enrollment.  Additional data is expected during 2022….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Onconova Therapeutics (ONTX) – Clinical Trials Progressing As Expected As 1Q22 Reported

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Thursday, May 12, 2022

Onconova Therapeutics (ONTX)
Clinical Trials Progressing As Expected As 1Q22 Reported

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation. Onconova’s novel, proprietary multi-kinase inhibitor narazaciclib (formerly ON 123300) is being evaluated in two separate and complementary Phase 1 dose-escalation and expansion studies. These trials are currently underway in the United States and China. Onconova’s product candidate rigosertib is being studied in an investigator-sponsored study program, including in a dose-escalation and expansion Phase 1/2a investigator-sponsored study with oral rigosertib in combination with nivolumab for patients with KRAS+ non-small cell lung cancer.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Onconova Reported 1Q22.  Onconova reported a loss of $4.1 million or $(0.20) per share and gave updates to its clinical trial progress.  The Phase 1 dose escalation trials for narazaciclib in solid organ tumors continue to treat patients.  The trial in China continues to treat its fifth cohort, while the US trial continues to treat its fourth cohort. Rigosertib trials in non-small cell lung cancer and RDEB continue, with a new Phase 2 rigosertib trial in metastatic melanoma expected to begin during 2Q22.

Narazacliclib Data To Be Presented At ASCO.  An abstract on narazaciclib is scheduled for publication at the American Society of Clinical Oncology (ASCO) Annual Meeting, scheduled for June 3 to 7.  We expect the data to include its action on CDK4, CDK6 and inhibition of targets in the pathways of cell proliferation, invasion, metastasis, and drug resistance.  The studies will also show comparisons with the three approved CDK4/6 inhibitor drugs….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Avivagen Announces Approval in China, the World’s Largest Commercial Feed Production Market

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Avivagen Announces Approval in China, the World’s Largest Commercial Feed Production Market

Research, News, and Market Data on Avivagen

Ottawa, ON /Business Wire/ May 12, 2022 /– Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is pleased to announce that Avivagen’s oxidized carotenoid-based feed additive product has received approval for use in China.

“Core to our success to date has been the strong inroads we’ve made across key Asian feed markets, and we’re thrilled to now have regulatory approval to bring OxC-betaTM to feed producers and commercial operations across China,” says Kym Anthony, Chief Executive Officer, Avivagen. “Having direct access to the world’s largest feed market at a time of continued growth has the potential to be transformative for Avivagen and help drive greater adoption and growth in Asia and worldwide.”

The approval comes as a result of Avivagen working closely with COFCO Biotech, a state-owned multi-billion-dollar company, and follows successful trials across numerous species.

China was ranked as the number one feed-producing country in the world in the 2022 Alltech Agri-Food Outlook, producing 261.4mmt in 2021. The country also experienced the largest increase in feed production by tonnage during the year, as the country’s feed industry continues to consolidate and modernize . The country has been a leader in efforts to reduce antibiotic use with livestock nationwide, in an effort to reduce antimicrobial-resistance in the region.

About Avivagen
Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

About OxC-beta™
Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about ?-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, Vietnam and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking
Statements
This
news release includes certain forward-looking statements that are based upon
the current expectations of management. Forward-looking statements involve
risks and uncertainties associated with the business of Avivagen Inc. and the
environment in which the business operates. Any statements contained herein
that are not statements of historical facts may be deemed to be
forward-looking, including those identified by the expressions “aim”,
“anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”,
“if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”,
“potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and
similar expressions.

Statements set out in
this news release relating to the potential impacts on Avivagen from this
regulatory approval, future growth and prospects for Avivagen and the
possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds
as growth promoters are forward-looking statements. These forward-looking
statements are subject to a number of risks and uncertainties that could cause
actual results or events to differ materially from current expectations. For
instance, Avivagen’s products may not gain market acceptance or regulatory
approval in new jurisdictions or for new applications and may not be widely
accepted as a replacement for antibiotics as growth promoters in livestock
feeds due to many factors, many of which are outside of Avivagen’s control.
Readers are referred to the risk factors associated with the business of
Avivagen set out in Avivagen’s most recent management’s discussion and analysis
of financial condition available at www.SEDAR.com. Except as required by law,
Avivagen assumes no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those reflected in the
forward-looking statements.

Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.

For more information:
Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Phone: 416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Head Office Phone: 613-949-8164

Website: www.avivagen.com
Copyright © 2022 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

Release – Voyager Digital Rolls Out 1-1 Live Messaging Support For Customers

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Voyager Digital Rolls Out 1-1 Live Messaging Support For Customers

Research, News, and Market Data on Voyager Digital

Company continues to rapidly expand its personalized customer
support capabilities as well as multimedia information and education, building
on its “Crypto for All” initiative

NEW YORK, May 12, 2022 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), one of the fastest-growing consumer cryptocurrency platforms in the United States, today announced it is currently rolling out Live Messaging Support for Voyager customers, available through Voyager’s award-winning mobile app, from 8am – 8pm Eastern time, Monday through Friday.

“Voyager support is now as easy as a text with one of our expert team members,” said Steve Ehrlich, Voyager’s CEO and co-founder. “To keep pace with customer growth over the past 12 months, we have dramatically increased our highly-trained customer support team, adding specialists across the United States. Today, we are adding industry-leading tools and capabilities to connect this expertise with customers through a new, dynamic channel that continues our laser-focus on building a world-class, customer-first organization centered on digital assets.”

To access the new Live Messaging Support feature that provides text communication through the Voyager app with an expert support team member, customers can:

  • Go to the Voyager mobile app and tap on the “Accounts” symbol on the far right of the lower navigation bar.
  • Scroll to the “Help” section, then tap the “?” icon in the purple bubble in the lower right corner.

This will initiate a chat session with VAL, Voyager’s virtual assistant, that will either answer a customer’s question immediately, route directly to Live Messaging Support, or request that a ticket be submitted for more detailed analysis. Voyager’s Live Messaging Support seamlessly initiates a conversation with one of our team members, during available hours, starting a text thread that is accessible at the customer’s convenience.

Voyager plans to expand on this capability by providing live, text-based support through additional channels in the future. 

In addition to introducing Live Messaging Support, Voyager is expanding customer information and communication through a series of video conversations between Stephen Ehrlich and leading voices in the financial and crypto world, as well as high-profile Voyager customers. The company is also piloting a video component to its weekly Market Roundup. These videos can be viewed on
Voyager’s YouTube channel.

About Voyager Digital Ltd.

Voyager Digital Ltd.’s (TSX: 
VOYG) (OTCQX: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost-efficiency to the marketplace. Voyager offers a secure way to trade over 100 different crypto assets using its easy-to-use mobile application. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

The TSX has not approved
or disapproved of the information contained herein.

Press Contacts

Voyager Digital, Ltd.
Voyager Public Relations Team
pr@investvoyager.com

SOURCE Voyager Digital (Canada) Ltd.

Bowlero (BOWL) – Scores Another Big Quarter

Posted on by Admin

Thursday, May 12, 2022

Bowlero (BOWL)
Scores Another Big Quarter

Bowlero Corp. is the worldwide leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Impressive Q3 results. The company reported fiscal Q3 revenue of $257.8 million, an increase of 130% from the year earlier quarter and a solid 8.3% above our estimate of $238.1 million. Adj. EBITDA was even more impressive at $108.4 million, a 296% increase from the year earlier quarter and a whopping 36.3% higher than our estimate of $79.5 million.

Eased COVID restrictions. Management noted that the strong quarter was boosted by the easing of COVID restrictions in many regions and as the Covid Omicron variant faded. This allowed retail revenue to increase and event revenue to significantly improve. This was evident by a 133% increase in Food & Beverage in the quarter. Notably, revenue was up 25.8% compared with pre-pandemic performance and up 12.2% compared with pre-pandemic on a same-store basis.  

…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Kelly Reports First-Quarter 2022 Earnings

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Kelly Reports First-Quarter 2022 Earnings

Research, News, and Market Data on Kelly

  • Q1 revenue up 7.5%; 9.0% in constant currency
  • Q1 operating earnings of $23.4 million; up 121% from a year ago
  • Q1 loss per share of $1.23 down from a year ago on a non-cash loss on Persol Holdings investment
  • Adjusted EPS of $0.46 in Q1; up from $0.12 a year ago
  • Created $235M of liquidity by ending the cross-ownership between Kelly and Persol Holdings and reducing our ownership interest in PersolKelly, the companies’ joint venture in the APAC region
  • Completed the first quarter acquisition of RocketPower to strengthen our RPO practice and acquired Pediatric Therapeutic Services in May to extend our leading position in K-12 education

TROY, Mich., May 12, 2022 /PRNewswire/ — Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced results for the first quarter of 2022.

Peter Quigley, president and chief executive officer, announced revenue for the first quarter of 2022 totaled $1.3 billion, a 7.5% increase, or 9.0% in constant currency, compared to the corresponding quarter of 2021. Revenue improved year-over-year in the quarter reflecting increased customer demand compared to the COVID-19-impacted prior year period, as well as the impact of the Q2 2021 acquisition of Softworld.

Earnings from operations in the first quarter of 2022 totaled $23.4 million, compared to $10.6 million reported in the first quarter of 2021. Earnings improved as a result of revenue growth combined with structural improvement in gross profit rate and expense leverage.

The loss per share in the first quarter of 2022 was $1.23 compared to diluted earnings per share of $0.64 in the first quarter of 2021. Included in the loss per share in the first quarter of 2022 is a loss, net of tax, on Kelly’s investment in Persol Holdings common stock of $1.26 per share compared to a gain, net of tax, of $0.52 per share in the first quarter of 2021. In addition, the loss per share in the first quarter of 2022 includes a $0.43 loss per share on non-cash foreign currency matters, net of tax, related to the dissolution of our Japanese subsidiary following the sale of the Persol Holding common shares. On an adjusted basis, earnings per share were $0.46 in the first quarter of 2022 compared to $0.12 in the corresponding quarter of 2021.

“Kelly’s first quarter performance proves that our growth strategy is paying off,” said Quigley. “We achieved significant year-over-year improvement in revenue; our GP rate reached its highest level in 25 years; and we more than doubled earnings from operations. At the same time, we’re acting quickly to redeploy capital and accelerate inorganic growth. Our acquisitions of RocketPower in March and Pediatric Therapeutic Services in May both expand Kelly’s presence in high-growth, high-margin specialties, and offer significant opportunities for top-line synergies moving forward.”  

Kelly also reported that on May 10, its board of directors declared an increased dividend of $0.075 per share.  The dividend is payable June 9, 2022, to shareholders of record as of the close of business on May 26, 2022 and represents a 50% increase.  Commenting on the dividend increase, Quigley said, “We are pleased that our improving operating results and strategic progress have given us the ability to return our dividend back to pre-pandemic levels and enhance shareholder value.”

In conjunction with its first-quarter earnings release, Kelly has published a financial presentation on the Investor Relations page of its public website and will host a conference call at 9 a.m. ET on May 12 to review the results and answer questions. The call may be accessed in one of the following ways:

Via the Internet:  

Kellyservices.com

Via the Telephone  

(877) 692-8955 (toll free) or (234) 720-6979 (caller paid)  
Enter access code 5728672  
After the prompt, please enter “#”

A recording of the conference call will be available after 2:30 p.m. ET on May 12, 2022, at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 6759661#. The recording will also be available at kellyservices.com during this period.

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These factors include, but are not limited to, changing market and economic conditions, the impact of the novel coronavirus (COVID-19) outbreak, competitive market pressures including pricing and technology introductions and disruptions, disruption in the labor market and weakened demand for human capital resulting from technological advances, competition law risks, the impact of changes in laws and regulations (including federal, state and international tax laws), unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, or the risk of additional tax liabilities in excess of our estimates, our ability to achieve our business strategy, our ability to successfully develop new service offerings, material changes in demand from or loss of large corporate customers as well as changes in their buying practices, risks particular to doing business with government or government contractors, the risk of damage to our brand, our exposure to risks associated with services outside traditional staffing, including business process outsourcing, services of licensed professionals and services connecting talent to independent work, our increasing dependency on third parties for the execution of critical functions, our ability to effectively implement and manage our information technology strategy, the risks associated with past and future acquisitions, including risk of related impairment of goodwill and intangible assets, risks associated with conducting business in foreign countries, including foreign currency fluctuations, risks associated with violations of anti-corruption, trade protection and other laws and regulations, availability of qualified full-time employees, availability of temporary workers with appropriate skills required by customers, liabilities for employment-related claims and losses, including class action lawsuits and collective actions, our ability to sustain critical business applications through our key data centers, risks arising from failure to preserve the privacy of information entrusted to us or to meet our obligations under global privacy laws, the risk of cyberattacks or other breaches of network or information technology security, our ability to realize value from our tax credit and net operating loss carryforwards, our ability to maintain specified financial covenants in our bank facilities to continue to access credit markets, and other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any forward-looking statements contained herein, and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ more than 350,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.

MEDIA CONTACT:

 

 

ANALYST CONTACT:

Jane Stehney

 

 

James Polehna

(248) 765-6864

 

 

(248) 244-4586

stehnja@kellyservices.com

 

 

james.polehna@kellyservices.com

 

https://kellyservices.gcs-web.com/news-releases/news-release-details/kelly-reports-first-quarter-2022-earnings

 

What is a Small-Cap Stock (In 500 Words or Less)

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Small-Cap Stocks and How They’re Different

Shares of public companies with a total market capitalization between $300 million to $2 billion are categorized as small-cap.

Market capitalization is determined by taking a stock’s share price and multiplying it by all of the outstanding shares. If the product comes to between $300 million and $2 billion, it fits the definition of small-cap.

Example

ABC Company Share Price: $4.25

Shares Outstanding: 400 Million

Market Capitalization: $4.25 x 400,00,00 =

$1.7 Billion

The above example shows ABC Company trading at $4.25 per share. There are $400 million shares outstanding – by multiplying $4.25 by 400 million, it reveals the company has a market cap of $1.7 billion –  $1.7 billion is between $200 million and $2 billion, so it is categorized as a small-cap company.

Market-cap data is available for small-cap stocks on Channelchek and other websites that provide investor information on companies.

Why is it Important?

Investors generally view stocks in three size categories: large, mid, and small-cap. Some even add two other categories they call microcap and megacap.

Knowing a company’s size, measured by market capitalization, is useful information for investors, here’s why:

Small-cap companies can exist in any industry. The difference between the smaller company and those with larger capitalization in the same business is that smaller companies have an increased potential for growth. Smaller companies are also more prone to being acquired. A company that gets acquired usually does at a share price above market levels.  

Another possible benefit is small companies usually have a more focused business line which allows investors the ability to fine-tune their concentration. To understand this, take a small one-product company that gets FDA approval for the only drug it has been working on for years. Its share price would likely skyrocket. If a large-cap company like Johnson and Johnson got approval for a drug that is just as effective, the impact on J&J’s earnings would not be as impactful for the stock price.

This is because the larger J&J also sells many other products. The stock price of the small company typically would show a much greater impact. This is true of growth, earnings, profit, and market-cap which is watered down when you’re larger.

There are unique risks to small-cap companies as well. Take the company I just mentioned that has just one drug that received FDA approval. What if the drug was turned down? They don’t have other products they can sell to offset costs.

 Most larger company stocks were at one time small-cap stocks.

Performance

Small-cap stocks can also experience larger than average price swings. But, if you’re a long-term investor, it may be worth it.

In the past 20 years, the S&P SmallCap 600 index, a leading benchmark for small-cap stocks, has outperformed the S&P indexes for large- and mid-caps on an average yearly basis. During that period, the S&P’s benchmark small-cap index returned an average of *8.3% annually, compared to 8% and 6.3% from its mid- and large-cap indexes.

Because of their size, small-cap stocks have different risks and rewards for investors when compared to their larger counterparts.

Paul Hoffman

Managing Editor, Channelchek

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Are Stablecoin Markets Signaling a Crypto Crisis?

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Image Credit: QuoteInspector.com  (Flickr)


Will the Current Stablecoin Situation Hasten Regulation and Oversight?

A move toward regulating digital currencies is gaining momentum in the U.S., and elsewhere – stablecoins could be the first cryptocurrency to be handed a rulebook. The variety of Stablecoin that is designed with algorithms to provide one-for-one parity with the U.S. dollar value, are finding it difficult or impossible to remain pegged to the fiat currency. The strong onset of negative sentiment in the crypto markets has already caused some of these less speculative cryptocurrencies to “break-the buck.”  True oversight may be in the best interest of preserving these new asset types, but the loss of autonomy may undermine their purpose and popularity.

The Current Concern

The attraction of stablecoins is they are designed to maintain a fixed value yet still allow for payments without getting the banking system involved. The larger stablecoins, Tether (USDT-USD) and USD Coin (USDC), have maintained their dollar pegs. But another once rising star the “algorithmic” stablecoin called TerraUSD (UST) crashed as low as $0.23 on the dollar this past week. The current price (May 12) is approximately $0.46. The decline in value of UST-USD caused $10 billion in the stablecoin to evaporate. A related crypto token called Luna (LUNA) or Terra Luna caused even greater losses. Terra Luna is down 99.6% today. This is contributing to the selloff crypto speculators are seeing in other digital currencies such as Bitcoin (BTC).

Some are likening the Terra collapse to the “Lehman Brothers moment,” referring to the surprise collapse of the once investment bank. Lehman woke markets up as to the severity of the 2008 financial crisis. The domino effect spurred by its wake-up call signaled the beginning of the awareness to problems the banking system was dealing with.

Is it a Crisis?

Is this a crypto or stablecoin crisis? The Terra losses may be an isolated event that is confined to tokens that either have a different mathematical basis or are especially vulnerable to market volatility. But it highlights risks that have always been inherent in these assets and may indicate a need to evolve with or without the help of regulatory guidance and oversight. The usefulness of stablecoins is diminished if they become one of the more controversial types of traded tokens and payment methods.

Stablecoins are already causing concern among regulators and bankers because, among other things, the money supply is impacted by privately issued digital money. A run on a stablecoin could, in theory, lead to heavy selling in assets held in reserves, such as short-term commercial debt or other cash equivalents. There has also been concern since their growth in popularity that stablecoins are substitutes for Federal Reserve Notes. The problem could be that they bypass the system that measures capital flows in global transactions and other cross-border exchanges. This was recently highlighted as both Russia and Ukraine were able to get around any attempts to shut down exchanges of currency, of the crypto variety, into or moving outside the countries.

Regulation

U.S. Regulators and lawmakers have expressed other concerns related to protecting users of any type of non-regulated token. One is about the liquidity and quality of issuers’ reserve assets. Banks are structured and have oversight to make sure they can meet redemption requests. This is why we don’t have concerns about a run on banks any longer. Panic redemptions of stablecoins or other tokens could have the same economic unsettling impact as a run on banks.  

Tether considered the preferred stablecoin is still not transparent about its holdings. The company, based in the British Virgin Islands, issues a quarterly “assurance opinion” on its reserves from a Cayman Islands auditor. It shows more than 80% of its reserves were held in Treasurys, cash, certificates of deposit, and money-market funds at the end of December. Details about other holdings are barely defined. This includes $4.1 billion in “secured loans”; $3.6 billion in “corporate bonds, funds, and precious metals”; and $5 billion in “other investments,” including “digital tokens.”

To date, Tether has never refused a redemption.

The White House, for its part, wants coin issuers under federal supervision, potentially even carrying FDIC deposit insurance. Biden called on Congress to pass supervisory rules for stablecoins in a recent executive order.

Congress is also working on a variety of rules for stablecoins; a draft bill in the Senate would establish a process for banks and credit unions to issue stablecoins, among other measures.

Another concern of the house-of-cards variety is that crypto exchanges hold large amounts of Tether for market-making and trading liquidity. If Tether were to stop trading 1:1 with the U.S. Dollar, it could impact other crypto trading, which could impact crypto brokerages.

Take-Away

The future of independent stablecoins and other cryptocurrencies may hinge on what is occurring in these markets now. Stablecoins are now widely used as de facto dollars for cryptocurrency exchange. Tether, which has not shown signs of problems is widely used. So while stablecoins are only 12% of the cryptocurrency market, the trading volume is high.

Algorithmic-based coins now appear to be more vulnerable than those backed by assets such as Treasuries, CDs and cash equivalents. Those that are least transparent could also be valuable, but they will for now be considered riskier.

Paul Hoffman

Managing Editor, Channelchek

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PDS Biotechnology Corp (PDSB) – Clinical Progress Continues As 1Q22 Results Were Within Expectations

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Thursday, May 12, 2022

PDS Biotechnology Corp (PDSB)
Clinical Progress Continues As 1Q22 Results Were Within Expectations

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer and infectious disease immunotherapies based on the Company’s proprietary Versamune® and Infectimune™ T-cell activating technology platforms. Our Versamune®-based products have demonstrated the potential to overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. The Company’s pipeline products address various cancers including HPV16-associated cancers (anal, cervical, head and neck, penile, vaginal, vulvar) and breast, colon, lung, prostate and ovarian cancers.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

PDS Biotechnology Reported 1Q22.  PDS Biotechnology reported a loss of $8.5 million or $(0.32) per share for 1Q22, consistent with our expectations.  The company also gave updates on its clinical trials and pipeline products, and has two  upcoming poster presentations scheduled to provide clinical data updates from PDS0101 trials in trials for HPV-associated cancers.  Cash on hand at the end of the quarter was $58.9 million.

PDS0101 Has Four Trials For HPV-Associated Cancer.    The lead product is PDS0101, a cancer therapy that uses the Versamune technology to deliver the HPV16 antigen. There are four trials in progress that test the drug in HPV-associated cancers found in any tissue or location, and at different stages of disease, and in combination with other drugs. Two clinical updates are scheduled for the American Society of Clinical Oncology (ASCO) from June 3-7….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Vectrus (VEC) – Solid First Quarter Results Set the Table for 2022

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Thursday, May 12, 2022

Vectrus (VEC)
Solid First Quarter Results Set the Table for 2022

For more than 70 years, Vectrus has provided critical mission support for our customers’ toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it’s base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 8,100 employees spanning 205 locations in 28 countries. In 2021, Vectrus generated sales of $1.8 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q22 Results. Revenue of $456.5 million was up 5.2% y-o-y and above our $427 million estimate, with the revenue beat due to the pull forward of some business. Adjusted EBITDA margin of 4% continued to be impacted by the phase-in of new awards and pass through content. Adjusted EPS in the quarter was $1.01 versus $1.20. We had estimated $0.77.

Kwajalein. Vectrus was able to transition to full operational control of Kwajalein a full six weeks from original expectations. Not only did this add to first quarter results, but several of the functions being provided are additive to the Company’s core O&M offerings and will provide a path to pursue adjacent and expanded opportunities with clients in the future.…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.