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BREAKING NEWS: Don Daseke Steps Down As Company’s Restructuring Continues

August 15, 2019 FreightWaves 0

Daseke, Inc. (NASDAQ: DSKE) announced today, August 15, 2019, that its founder, Chairman of the Board and Chief Executive Officer Don Daseke will retire effective immediately. Daseke will continue to serve as a board member under the role of Chairman Emeritus.

The largest flatbed, specialized transportation and logistics company in North America announced that current Chief Operating Officer Chris Easter will act as the interim Chief Executive Officer.

Easter has been Daseke’s COO since January. Prior to joining Daseke earlier this year, Easter served as the Chief Executive Officer of Keen Transport (“a specialized transportation, warehouse, and logistics company focused on serving the industrial equipment market”) for six years. Easter has more than 30 years of operations leadership experience with the U.S. Army, Walmart Inc (NYSE: WMT) and Schneider National Inc.  (NYSE: SNDR).

Board member Brian Bonner will serve as the Executive Chairman. Bonner, formerly Vice President and Chief Information Officer of Texas Instruments (NASDAQ: TXN), has served on Daseke’s board for the last four years. Over his 33-year career with Texas Instruments he held various roles and has held board seats with other organizations.

Bonner said, “Don has been an inspirational force for Daseke since its inception and has led …

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Capital régional et coopératif Desjardins share price continues its uptrend and grows to $16.02

August 15, 2019 PRNewswire 0

$134 million in new commitments for the first six months of 2019, an increase of 23%

Highlights for the six-month period ended June 30, 2019

  • Share price: $16.02, up $0.68 from December 31, 2018
  • Non-annualized return: 4.4%
  • Net earnings: $93.5 million
  • Non-annualized return of Investments impacting the Québec economy portfolio: 4.1%
  • Non-annualized return of Other investments portfolio: 6.6%
  • New amounts committed by CRCD and its partner funds: $134 million in 85 SMEs, cooperatives and funds

MONTRÉAL, Aug. 15, 2019 /CNW Telbec/ – For the first half of the year ended June 30, 2019, Capital régional et coopératif Desjardins (CRCD) announced that its share price increased today to $16.02, a gain of $0.68 compared with December 31, 2018. For the first six months of fiscal 2019, CRCD realized net earnings of $93.5 million for a non-annualized return of 4.4%. As at June 30, 2019, CRCD’s net assets stood at $2,212 million.

These results are attributable, in part, to the profitability of the companies in the Investments impacting the Québec economy portfolio, with a non-annualized return of 4.1%, and in part, to the strong performance of the Other Investments portfolio, which ended the first half of the year with a non-annualized return of 6.6%.

The financial asset management strategy applied for a number of years allows CRCD to leverage the benefits of strong complementarity between these two portfolios. Their combined performance generates a reasonable long-term rate of return for shareholders. …

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A Look At Benzinga Pro’s Most-Searched Tickers For August 15, 2019

August 15, 2019 Sebastian Brown 0

This most-searched list is a feature included in Benzinga Pro’s Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform.

  1. Pivotal Software (NYSE: PVTL) shares were up 65% to $13.68. The company confirmed talks with VMware concerning the potential acquisition of the company for $15 per share in cash.
  2. Akari Therapeutics (NASDAQ: AKTX) shares were down 19% to $2.36.
  3. Arcadia Biosciences (NASDAQ: RKDA) shares were …

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There’s An App For That: Providing Driver Value Alongside Freight Visibility

August 15, 2019 FreightWaves 0

In order for a third-party logistics company (3PL) to compete in today’s market, it must provide start-to-finish visibility for its customers. Companies must also provide that visibility in a way that drivers and carriers are willing to accept, use and hopefully like. 

Georgia-based Syfan Logistics learned first-hand that accomplishing those goals in tandem can feel like an impossible feat. The full-service 3PL specializes in perishables and expedited delivery, making accurate tracking even more important. 

When the company first started testing tracking solutions, it became clear that carrier compliance and overall accuracy were both difficult to accomplish. This was especially true with tracking solutions that did not offer a mobile application for carriers.

“The app-less tracking solutions frequently reported that freight had been delivered when it actually hadn’t,” said Syfan Logistics’ IT Director Diana Bullington. “It left our logistics staff and carrier partners frustrated, and we were unable to provide accurate freight location information to our shippers, which was problematic.”

The company also had trouble getting drivers to use the app-less tracking solutions at all, according to a case study developed by Syfan’s current provider, Trucker Tools. The study attributed this to the fact that app-less solutions do not provide added value for the driver and are often seen as just another distraction.

In 2017, Syfan became an early adopter of the Trucker Tools app. After switching to the app-based solution, Bullington said the company experienced improved visibility and higher driver compliance. 

“The Trucker Tools app helps us to be better for our customers,” Bullington said. “It feeds back into our transportation management system (TMS), so we have immediate visibility.”

Syfan has seen a 50 percent increase in tracking accuracy since introducing the app. The …

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Navios Maritime Acquisition Corporation Announces the Date for the Release Second Quarter 2019 Results, Conference Call and Webcast

August 14, 2019 Globe Newswire 0

MONACO, Aug. 14, 2019 (GLOBE NEWSWIRE) — Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE:NNA) announced today that it will host a conference call on Wednesday, August 21, 2019 at 8:30 am ET, at which time Navios Acquisitions’ senior management will provide highlights and commentary on earnings results for the second quarter and six months ended June 30, 2019.

The Company will announce earnings results for the second quarter and six months ended June 30, 2019, prior to the conference call.

A supplemental slide …

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Domo Announces Timing of its Second Quarter Fiscal 2020 Results Conference Call

August 14, 2019 Globe Newswire 0

SILICON SLOPES, Utah, Aug. 14, 2019 (GLOBE NEWSWIRE) — Domo (NASDAQ:DOMO), provider of the leading cloud-based operating system for business, today announced that results for its second quarter fiscal 2020 (ended July 31, 2019) will be released on …

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LifeVantage Announces Financial Results for the Fourth Fiscal Quarter and Full Fiscal Year 2019

August 14, 2019 Globe Newswire 0

Reports Highest Annual Revenue in Company History

Fiscal 2019 Revenue Increased 11% and Adjusted EBITDA Increased 22%

Exceeds High End of Fiscal 2019 Adjusted EPS Guidance

SALT LAKE CITY, Aug. 14, 2019 (GLOBE NEWSWIRE) — LifeVantage Corporation (NASDAQ:LFVN) today reported financial results for its fourth quarter and full fiscal year ended June 30, 2019.

Fourth Quarter Fiscal 2019 Highlights:

  • Revenue increased 4.0% to $56.2 million year over year;
  • Revenue in the Americas decreased 2.9% year over year, while revenue in Asia/Pacific & Europe increased 24.4% year over year;
  • Active members increased 3.4% to 185,000, including 4.8% growth of independent distributors and a 2.6% increase in active customers, each on a year over year basis;
  • Adjusted EBITDA increased 48.6% to $7.7 million year over year;
  • Earnings per diluted share were $0.26, compared to $0.21 in the prior year period; and
  • Adjusted earnings per diluted share were $0.26, compared to $0.20 in the prior year period.

* All year over year growth rates compare the fourth quarter of fiscal 2019 to the fourth quarter of fiscal 2018.

Fiscal Year 2019 Highlights:

  • Revenue increased 11.2% to $226.0 million;
  • Revenue in the Americas increased 7.7% and revenue in Asia/Pacific & Europe increased 21.6%;
  • Adjusted EBITDA increased 22.4% to $18.2 million;
  • Earnings per diluted share were $0.50, compared to $0.41 in fiscal 2018;
  • Adjusted earnings per diluted share were $0.59, compared to $0.51 in fiscal 2018; and
  • Repurchased 389,000, or $4.7 million, of common shares, and paid down $4.0 million of long-term debt, reflecting strong cash flow from operations of $17.8 million.

*All growth rates compare fiscal 2019 to fiscal 2018.

“We are proud to report a strong finish to fiscal 2019, generating the highest annual revenue in the Company’s history while exceeding our fiscal 2019 adjusted EPS guidance,” stated LifeVantage President and Chief Executive Officer, Darren Jensen. “We continue to see positive trends in our active member counts, reflecting successful execution of each of our 2019 strategic initiatives. We have also expanded our geographic footprint and enhanced our innovative product offering. Looking to fiscal 2020, we remain focused on the key drivers of our continued growth, while embracing new initiatives with the intent to expand these drivers and capitalize on the ever growing global consumer interest in improving health and enhancing lifestyles. Our key initiatives for 2020 include growing our biohacking subscriptions, attracting and creating influencers to expand reach, simplifying the business building opportunity at LifeVantage and building a solid foundation for future growth. I am confident that the future remains bright for LifeVantage and I look forward to executing on our plans for fiscal 2020 and beyond.”

Fourth Quarter Fiscal 2019 Results

For the fourth fiscal quarter ended June 30, 2019, the Company reported revenue of $56.2 million, an increase of 4.0% as compared to $54.0 million in the fourth quarter of fiscal 2018. Revenue in the Americas for the fourth quarter decreased 2.9% compared to the fourth quarter of fiscal 2018 and revenue in the Asia/Pacific & Europe region increased 24.4% compared to the fourth quarter of fiscal 2018. Revenue for the fourth quarter of fiscal 2019 was negatively impacted $0.4 million, or 0.7%, by foreign currency fluctuations associated with revenue generated in international markets when compared to the fourth quarter of fiscal 2018.

Gross profit for the fourth quarter of fiscal 2019 was $46.5 million, or 82.7% of revenue, compared to $46.0 million, or 85.1% of revenue, for the same period in fiscal 2018. The decrease in gross margin was largely driven by a benefit of $0.9 million in the fourth quarter of fiscal 2018 due to a change in accrued import estimates. Normalized for this change, adjusted non-GAAP gross profit was comparable to the prior year period.

Commissions and incentives expense for the fourth quarter of fiscal 2019 was $25.5 million, or 45.3% of revenue, compared to $27.1 million, or 50.1% of revenue, for the same period in fiscal 2018. The year over year decrease reflects the timing of accruals for incentive and promotional programs.

Selling, general and administrative expense (SG&A) for the fourth quarter of fiscal 2019 was $15.3 million, or 27.3% of revenue, compared to $14.6 million, or 27.0% of revenue, for the same period in fiscal 2018. Adjusted for other nonrecurring legal and accounting expenses of $0.1 million and class-action lawsuit expenses of $37,000, adjusted non-GAAP SG&A expenses for the fourth quarter of fiscal 2019 were $15.2 million or 27.1% of revenue. Adjusted for class-action lawsuit expenses of $0.3 million, executive severance, recruiting and transition expenses of $0.3 million and benefits from insurance reimbursements of $0.4 million, adjusted non-GAAP SG&A expenses for the fourth quarter of fiscal 2018 were $14.4 million or 26.6% of revenue. The modest year over year increase in non-GAAP SG&A was primarily due to increased expenses associated with stock and other employee incentive compensation programs, which increased as a result of improved revenue performance and increases in the Company’s share price as compared to the prior year period.

Operating income for the fourth quarter of fiscal 2019 was $5.7 million, compared to $4.3 million for the fourth quarter of fiscal 2018. Accounting for the non-GAAP adjustments noted previously, adjusted non-GAAP operating income for the fourth quarter of fiscal 2019 was $5.8 million, compared to $3.7 million for the fourth quarter of fiscal 2018.

Adjusted EBITDA increased 48.6% to $7.7 million for the fourth quarter of fiscal 2019, compared to $5.2 million for the comparable period in fiscal 2018.

Net income for the fourth quarter of fiscal 2019 was $3.9 million, or $0.26 per diluted share. This compares to net income for the fourth quarter of fiscal 2018 of $3.0 million, or $0.21 per diluted share. Accounting for the non-GAAP adjustments noted previously, and tax impacts of these adjustments of $27,000, adjusted non-GAAP net income for the fourth quarter of fiscal 2019 increased 41.6% to $4.0 million, or $0.26 per diluted share. Accounting for the non-GAAP adjustments noted previously, and tax impacts of these adjustments of $0.2 million as well as tax expense of $0.3 million associated with the revaluation of deferred tax assets associated with the 2017 tax reform, adjusted non-GAAP net income for the fourth quarter of fiscal 2018 was $2.8 million, or $0.20 per diluted share.

Fiscal 2019 Full Year Results

For the fiscal year ended June 30, 2019, the Company reported net revenue of $226.0 million, an increase of 11.2% compared to $203.2 million for fiscal 2018. In fiscal 2019, revenue in the Americas increased 7.7% and revenue in Asia/Pacific & Europe increased 21.6%. Revenue for fiscal 2019 was negatively impacted $1.6 million, or 0.8%, by foreign currency fluctuations associated with revenue generated in international markets.

Gross profit during fiscal 2019 was $188.0 million, or 83.2% of revenue, compared to $168.4 million, or 82.9% of revenue, for fiscal 2018. The increase in gross margin was primarily due to benefits of a price increase during the second half of fiscal 2018, decreased inventory obsolescence and handling costs, partially offset by changes to our geographic and product sales mix related to the revenue growth and product expansion outside of the United States. Fiscal 2018 gross profit benefited by $0.9 million due to a change in accrued import estimates. Adjusted non-GAAP gross profit for fiscal 2018 was $167.5 million, or 82.4%.

Commissions and incentives expense for fiscal 2019 was $108.6 million, or 48.1% of revenue, compared to $98.2 million, or 48.3% of revenue, for fiscal 2018. Commissions and incentives expense, as a percentage of revenue, remained consistent on a comparative basis.

SG&A for fiscal 2019 was $69.6 million, or 30.8% of revenue, compared to $59.8 million, or 29.4% of revenue, for fiscal 2018. Adjusted for class-action lawsuit expenses of $0.6 million and nonrecurring legal and accounting expenses of $0.5 million, partially offset by a benefit associated with executive severance of $0.1 million, adjusted non-GAAP SG&A for fiscal 2019 was $68.5 million, or 30.3% of revenue. Adjusted for class-action lawsuit expenses of $0.7 million, executive severance, recruiting and transition expenses of $0.6 million, nonrecurring legal and accounting expenses of $0.1 million and benefits from insurance reimbursements received of $0.4 million, adjusted non-GAAP SG&A for fiscal 2018 was $59.0 million, or 29.0% of revenue. The $9.6 million year over year increase in non-GAAP SG&A was primarily due to increased expenses associated with stock and other employee incentive compensation programs, which increased as a result of improved revenue performance and increases in the Company’s share price as compared to the prior year period, costs associated with higher staffing levels added in late fiscal 2018, and due to increased expenses associated with Global Convention, Japan Convention and a Japan Elite Academy.

Operating income during fiscal 2019 was $9.8 million, compared to $10.3 million for fiscal 2018. Accounting for non-GAAP adjustments noted previously, adjusted non-GAAP operating income for fiscal 2019 was $10.8 million compared to $10.3 million for fiscal 2018.

Adjusted EBITDA increased 22.4% to $18.2 million for fiscal 2019, compared to $14.9 million for fiscal 2018.

Net income during fiscal 2019 was $7.4 million, or $0.50 per diluted share, compared to $5.8 million, or $0.41 per diluted share for fiscal 2018. Accounting for the non-GAAP adjustments noted previously, and tax benefits of these adjustments of $0.4 million, adjusted non-GAAP net income for fiscal 2019 increased 23.6% to $8.9 million, or $0.59 per diluted share. Accounting for the non-GAAP adjustments noted previously, and tax impacts of these adjustments of $42,000, as well as tax expense of $1.5 million associated with the revaluation of deferred tax assets associated with the 2017 tax reform, adjusted non-GAAP net income for fiscal 2018 was $7.2 million, or $0.51 per diluted share.

Balance Sheet & Liquidity

The Company generated $17.8 million of cash from operations during fiscal 2019 compared to $13.3 million in the comparable period of fiscal 2018. The Company’s cash and cash equivalents at June 30, 2019 were $18.8 million, compared to $16.7 million at June 30, 2018. Total debt at June 30, 2019 was $1.5 million, compared to $5.4 million at June 30, 2018. During fiscal 2019, the Company repurchased $4.7 million of common shares under its share repurchase authorization.

Fiscal Year 2020 Guidance

The Company expects to generate revenue in the range of $235 million to $245 million in fiscal year 2020 and adjusted EBITDA of $20 million to $22 million, with adjusted earnings per share in the range of $0.62 to $0.71, which assumes a full year tax rate in the range of 19% to 22%. The Company’s adjusted non-GAAP EBITDA and adjusted non-GAAP earnings per diluted share guidance excludes any non-operating or non-recurring expenses that may materialize during fiscal 2020. The Company is not providing GAAP earnings per diluted share guidance for fiscal 2020 due to the potential occurrence of one or more non-operating, one-time expenses, which the Company does not believe it can reliably predict.

Conference Call Information

The Company will hold an investor conference call today at 2:30 p.m. MDT (4:30 p.m. EDT). Investors interested in participating in the live call can dial (800) 289-0438 from the U.S. International callers can dial (323) 794-2423. A telephone replay will be available approximately two hours after the call concludes and will be available through Wednesday, August 21, 2019, by dialing (844) 512-2921 from the U.S. and entering confirmation code 4077209, or (412) 317-6671 from international locations, and entering confirmation code 4077209.

There will also be a simultaneous, live webcast available on the Investor Relations section of the Company’s web site at https://lifevantage.gcs-web.com/events-and-presentations. The webcast will be archived for approximately 30 days.

About LifeVantage Corporation

LifeVantage Corporation (NASDAQ:LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The Company engages in the identification, research, development and distribution of advanced nutrigenomic dietary supplements and skin and hair care products, including its Protandim® product line, LifeVantage® Omega+ and ProBio dietary supplements, the TrueScience® line of Nrf2-infused skin and hair care products, Petandim™ for Dogs, Axio® Smart Energy Drink mixes, and the PhysIQ™ Smart Weight Management System. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com.

Forward Looking Statements

This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as “believe”, “hopes”, “intends”, “estimates”, “expects”, “projects”, “plans”, “anticipates”, “look forward to”, “goal”, “may be”, and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding the benefits of our key initiatives, future growth and expected financial performance. Such forward-looking statements are not guarantees of performance and the Company’s actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company’s current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company’s actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, those discussed in greater detail in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Report on Form 10-Q under the caption “Risk Factors,” and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by …

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Matrix Service Company Sets Date to Discuss Results for the Fourth Quarter and Fiscal Year Ended June 30, 2019

August 14, 2019 Globe Newswire 0

TULSA, Okla., Aug. 14, 2019 (GLOBE NEWSWIRE) — Matrix Service Company (NASDAQ:MTRX) will announce results for the Fourth quarter and Fiscal Year Ended June 30, 2019, and provide guidance for Fiscal 2020 on Wednesday, August 28, 2019 after the market closes.  The release will be followed by a conference call on Thursday, August 29, 2019 at 10:30 a.m. Eastern time /09:30 a.m. Central time.

Earnings Conference Call instructions

Matrix Service Company will host a conference call with John R. Hewitt, President and CEO and Kevin S. Cavanah, Vice President and CFO at 10:30 a.m. Eastern Time / 09:30 a.m. Central Time on August 29, 2019.  The call will be simultaneously broadcast live over the Internet, which can be accessed at the Company’s website at www.matrixservicecompany.com on the Investors Relations page under Events & Presentations.  Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast.  The conference …

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Sportsman’s Warehouse Holdings, Inc. Announces Second Quarter Fiscal 2019 Earnings Conference Call

August 14, 2019 Globe Newswire 0

MIDVALE, Utah, Aug. 14, 2019 (GLOBE NEWSWIRE) — Sportsman’s Warehouse Holdings, Inc. (“Sportsman’s” or the “Company”) (NASDAQ:SPWH) today announced that it will hold its quarterly conference call to discuss second quarter fiscal 2019 financial results on Wednesday, August 28, 2019 at 4:30 p.m. Eastern Time.

The conference call will be …

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Chicken Soup for the Soul Entertainment Reports Record Q2 2019 Revenue of $12.2 Million

August 14, 2019 Globe Newswire 0

     Contribution of Crackle Plus for Approximately Half of the Quarter Drives Record Revenue, Increases in Ads Served, and Accelerating Advertising Rates

Pro Forma 2018 Annual Net Revenue of $92.6 Million for Combined Entity

COS COB, Conn., Aug. 14, 2019 (GLOBE NEWSWIRE) — Chicken Soup for the Soul Entertainment, Inc. (CSS Entertainment) (NASDAQ:CSSE), a growing media company building online video-on-demand (VOD) networks that provide video content for all screens, today announced its financial results for the second quarter ended June 30, 2019.

Second Quarter 2019 and Recent Business Highlights
(Results reflect Crackle Plus joint venture closed on May 14, 2019)

  • Total revenue of $12.2 million
  • Net loss of $5.9 million; $5.1 million before preferred dividends
  • Adjusted EBITDA of $1.3 million
  • Crackle Plus streaming video joint venture launched
  • Release of The Man Who Killed Don Quixote, a much anticipated film directed by Terry Gilliam
  • Began production on Season 2 of Chicken Soup for the Soul’s Animal Tales

Total revenue for the quarter ended June 30, 2019 was $12.2 million compared to $3.1 million in the year-ago period. The year-over-year increase reflects 45 days of Crackle contribution.

  • Online networks, which includes Crackle, Popcornflix and Pivotshare, generated $10 million in revenue
  • Television and film distribution generated $2.0 million in revenue
  • Television and short-form video production generated $0.2 million in revenue

“In the second quarter total revenue was a record $12.2 million, reflecting only 45 days of our ownership of Crackle. Our increased scale is driving advertiser interest,” said William J. Rouhana Jr., chairman and chief executive officer of CSS Entertainment. “Our ads served on our owned-and-operated networks increased to 681 million in the second quarter, up from 33 million in the year ago quarter, validating the consolidation strategy. Crackle’s eCPM rate is 27% higher than Popcornflix’s and we expect to increase our ad rates across all of our online networks over time as we close the gap between Popcornflix and Crackle.  These results underscore our excitement for this joint venture.”
             
Gross profit for the quarter ended June 30, 2019 was $3.6 million, or 30% of total revenue, compared to $1.2 million, or 39% of total revenue for the year-ago period. The reduction in the percentage of gross profit was a result of an increase in online networks revenue which has a lower gross profit percentage.  

Operating loss for the quarter ended June 30, 2019 was $3.0 million compared to an operating loss of $1.6 million for the year-ago period. The quarterly operating loss reflects certain non-cash or one-time expenses including $0.7 million in non-cash amortization, $1.2 million of transitional expenses related to the Crackle Plus joint venture, and $1.6 million in film library amortization. If such expenses were excluded from SG&A or cost of revenue, the Company would have reported quarterly operating income of $0.5 million.  

Net loss was $5.9 million, or $0.49 per share, compared to a net loss of $1.7 million, or $0.14 per share in the prior-year second quarter. Excluding preferred dividends, the net loss in the second quarter of 2019 would have been $5.1 million, or approximately $0.42 per share, compared to a net loss of $1.7 million, or $0.14 per share last year.

Adjusted EBITDA for the quarter ended June 30, 2019 was $1.3 million compared to $0.2 million in the same period last year.

As of June 30, 2019, the company had $5.2 million of cash and cash equivalents compared to $7.2 million as of December 31, 2018, and outstanding debt of $7.1 million as of June 30, 2019 compared to $7.6 million as of December 31, 2018.

Crackle Plus Pro Forma Financial Information

CSS Entertainment completed the joint venture launching Crackle Plus on May 14, 2019 (Closing Date). Under generally accepted accounting principles (GAAP), Crackle’s financial results are only included in the combined company’s reported financial results from the Closing Date forward and are not reflected in the combined company’s reported financial results for any periods prior to the Closing Date.

In this release, to supplement and aid in an understanding of the combined company’s reported financial results, CSS Entertainment is also providing certain GAAP-based and non-GAAP pro forma financial information of the combined company that includes Crackle’s financial results for the relevant periods prior to the Closing Date, as if the acquisition occurred on January 1, 2018. See “Use of Non-GAAP Measures and Supplementary Information” below and the accompanying financial schedules for more information, including descriptions of any such pro forma measures that may be non-GAAP measures and reconciliations of those non-GAAP measures to their most directly comparable GAAP measures. Please refer to the Company’s recently filed Amendment No. 1 to the Current Report on Form 8-K/A filed with the Securities and Exchange Commission on July 30, 2019 for further details on pro forma results disclosed herein.

“This was an incredibly productive and busy quarter as we completed the joint venture creating Crackle Plus,” said Mr. Rouhana. “We are now one of the largest ad-supported networks in the industry and have solidified our position as a leader in the high-growth, advertising-supported VOD (AVOD) business. Before we entered into the joint venture agreement, we had identified a number of synergistic opportunities and cost reduction targets, which enabled a smooth integration. As a result, and as detailed in the recently filed Form 8-K/A, we have streamlined the organization, eliminating approximately $65.3 million in total annualized costs on an estimated pro forma combined 2018 net revenue of $92.6 million.”

“The four key areas we identified to reduce costs and improve margins were in technology, marketing, content and SG&A,” continued Mr. Rouhana. “Estimated pro forma reductions of $29.6 million in Cost of Goods Sold (COGS) were primarily due to consolidating technology costs onto a shared platform and replacing fixed fee content agreements with revenue sharing agreements. On the SG&A front, duplicative roles in the operations teams were eliminated, and we streamlined allocated corporate overhead expenses. Our marketing spend was also significantly reduced by excluding certain marketing agreements from transferred assets and using our owned-and-operated networks and brand related social media. These measures resulted in estimated pro forma S&GA annual cost reductions of $35.6 million and $25.3 million in annual pro forma adjusted EBITDA.”

“Now that Crackle is fully integrated, we intend to focus on further acquisitions of online networks, adding to our ad partner network, and growing our film distribution activity,” said Mr. Rouhana. “We also plan to grow our television and short-form video production platform while reducing the risk capital allocated to these projects. We anticipate our proprietary content production contributing more significantly to revenue next year, demonstrating the potential synergies in our business.”

For a discussion of the financial measures presented herein which are not calculated or presented in accordance with U.S. generally accepted accounting principles (“GAAP”), see “Note Regarding Use of Non-GAAP Financial Measures” below and the schedules to this press release for additional information and reconciliations of non-GAAP financial measures.

The company presents non-GAAP measures such as Adjusted EBITDA and Pro Forma Adjusted EBITDA to assist in an analysis of its business. These non-GAAP measures should not be considered an alternative to GAAP measures as an indicator of the Company’s operating performance.

Conference Call Information

  • Date, Time: Wednesday, August 14, 2019, 4:30 p.m. ET.
  • Toll-free: (833) 832-5128
  • International: (484) 747-6583
  • Conference ID: 2279818
  • A live webcast is available at http://ir.cssentertainment.com/ under the “News & Events” tab

Conference Call Replay Information

  • Toll-free: (855) 859-2056
  • International: (404) 537-3406
  • Reference ID: 2279818

ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT

Chicken Soup for the Soul Entertainment, Inc. is a growing media company building and acquiring streaming VOD networks that provide content for all screens. CSS Entertainment has a majority stake in Crackle Plus, a joint venture with Sony Pictures Television, which owns and operates a variety of ad-supported and subscription-based VOD networks including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. CSS Entertainment also acquires and distributes video content through its Screen Media subsidiary and produces long- and short-form content through its Chicken Soup for the Soul Originals division and through APlus.com. Chicken Soup for the Soul Entertainment is a subsidiary of Chicken Soup for the Soul, LLC, which publishes the famous book series and produces super-premium pet food under the Chicken Soup for the Soul brand name.

Note Regarding Use of Non-GAAP Financial Measures

The company’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). It uses a non-GAAP financial measure to evaluate its results of operations and as a supplemental indicator of operating performance. The non-GAAP financial measure that is used is Adjusted EBITDA. Adjusted EBITDA (as defined below) is considered a non-GAAP financial measure as defined by Regulation G promulgated by the SEC under the Securities Act of 1933, as amended. Management believes this non-GAAP financial measure enhances the understanding of the company’s historical and current financial results and enables the board of directors and management to analyze and evaluate financial and strategic planning decisions that will directly affect operating decisions and investments. The presentation of Adjusted EBITDA should not be construed as an inference that future results will be unaffected by unusual or non-recurring items or by non-cash items. This non-GAAP financial measure should be considered in addition to, rather than as a substitute for, the company’s actual operating results included in its condensed consolidated financial statements.

“Adjusted EBITDA” means earnings before interest, taxes, depreciation, amortization and non-cash share-based compensation expense, and also includes the gain on bargain purchase of subsidiary and adjustments for other identified charges such as costs incurred to form the company and to prepare for the offering of its Class A common stock to the public, prior to its IPO. Identified charges also include the cost of maintaining a board of directors prior to being a publicly traded company. As the IPO has been completed, director fees will be deducted from Adjusted EBITDA going forward. Adjusted EBITDA is not an earnings measure recognized by GAAP and does not have a standardized meaning prescribed by GAAP; accordingly, Adjusted EBITDA may not be comparable to similar measures presented by other companies. Management believes Adjusted EBITDA to be a meaningful indicator of the company’s performance that provides useful information to investors regarding its financial condition and results of operations. The most comparable GAAP measure is operating income.

A reconciliation of net loss to Adjusted EBITDA is provided in the company’s Quarterly Report on Form 10-Q for the three months ended June 30, 2019 under “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Reconciliation of Unaudited Historical Results to Adjusted EBITDA.”

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks (including those set forth in the Annual Report on Form 10-K, filed with the Securities and Exchange Commission on April 1, 2019, as amended April 30, 2019 and June 4, 2019) and uncertainties which could cause actual results to differ from the forward-looking statements. The company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Investors should realize that if our underlying assumptions for the projections contained herein prove inaccurate or that known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections.

INVESTOR RELATIONS
James Carbonara
Hayden IR
james@haydenir.com
(646) 755-7412

MEDIA CONTACT
Kate Barrette
RooneyPartners LLC
kbarrette@rooneyco.com
(212) 223-0561 

Tables Follow

   
  Chicken Soup for the Soul Entertainment, Inc.
   Pro Forma Condensed Consolidated Combined Statement of Operations
  For the Year Ended December 31, 2018 
  (audited) 
   
   
    CSS       Pro Forma   Pro Forma
      Entertainment   Crackle U.S. (1)   Adjustments   Combined
            Revenue, net     26,859,519       65,784,308           92,643,827  
  Cost of revenue      12,345,590       65,558,710       (29,629,305 )     48,274,995  
            Gross profit     14,513,929       225,598       29,629,305       44,368,832  
  Operating expenses:                
    Selling, general and administrative      10,745,235       44,357,633       (35,943,445 )     19,159,423  
    Management and license fees      2,666,907       –        6,578,431       9,245,338  
            Total operating expenses     13,412,142       44,357,633       (29,365,014 )     28,404,761  
  Operating (loss) / income before Amortization     1,101,787       (44,132,035 )     58,994,320       15,964,071  
    Amortization      326,988       –        4,194,952       4,521,940  
  Operating (loss) / income     774,799       (44,132,035 )     54,799,367       11,442,131  
  Interest income      39,058       –            39,058  
  Interest expense      (388,036 )     –        –        (388,036 )
  Acquisition-related costs     (396,793 )     –        –        (396,793 )
  Goodwill impairment expense         (8,800,000 )     –        (8,800,000 )
  Income / (loss) before income taxes and preferred dividends      29,028       (52,932,035 )     54,799,367       1,896,360  
  Provision for (benefit from) income taxes     874,000       –        (363,310 )     510,690  
  Net (loss) / income before noncontrolling interests and preferred dividends     (844,972 )     (52,932,035 )     55,162,678       1,385,671  
  Net (Loss) / income attributable to noncontrolling interests             38,100       38,100  
  Net (loss) / income attributable to Chicken Soup for the Soul Entertainment, Inc.     (844,972 )     (52,932,035 )     55,124,577       1,347,570  
  Preferred dividends      1,112,910       –        –        1,112,910  
  Net (loss) / income available to common Stockholders $   (1,957,882 )     (52,932,035 )     55,124,577       234,660  
  Net (loss) / income per common share:                
  Basic and diluted  $   (0.16 )             0.02  
  Weighted average number of common shares outstanding:                
  Basic and diluted      11,944,528    

Full story available on Benzinga.com

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HUYA’s Q2 Earnings Outlook

August 13, 2019 Benzinga Newsdesk 0

HUYA (NYSE: HUYA) announces its next round of earnings this Tuesday, August 13. Here is Benzinga’s everything-that-matters guide for the Q2 earnings announcement.

Earnings and Revenue

Analysts predict HUYA will report earnings of 8 cents per share on revenue of $256.14 million.

The Wall Street consensus estimate for earnings would represent a 33.33% increase for the …

Full story available on Benzinga.com

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Earnings Outlook For DASAN Zhone Solutions

August 13, 2019 Benzinga Newsdesk 0

On Tuesday, August 13, DASAN Zhone Solutions (NASDAQ: DZSI) will release its latest earnings report. Decipher the announcement with Benzinga’s help.

Earnings and Revenue

DASAN Zhone Solutions EPS will likely be near 6 cents while revenue will be around $84.10 million, according to analysts.

DASAN Zhone Solutions reported a per-share profit of 8 cents when it published results during the same quarter last year. Sales in that period totaled $76.26 million. If …

Full story available on Benzinga.com

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Earnings Preview For CDK Global

August 13, 2019 Benzinga Newsdesk 0

Don’t be caught off-guard: CDK Global (NASDAQ: CDK) releases its next round of earnings this Tuesday, August 13. Want to skip the homework and get all the facts in one place? We thought so. Here is your everything-that-matters guide for Tuesday’s Q4 earnings announcement after the bell.

Earnings and Revenue

Analysts predict CDK Global will report earnings of 92 cents per share on revenue of $585.20 million.

In the same quarter …

Full story available on Benzinga.com

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Earnings Preview For Boxlight

August 13, 2019 Benzinga Newsdesk 0

Boxlight (NASDAQ: BOXL) unveils its next round of earnings this Tuesday, August 13. Here is Benzinga’s everything-that-matters guide for the earnings announcement.

Earnings and Revenue

Boxlight EPS is expected to be around a loss of 14 cents, according to sell-side analysts. Sales will likely be near $11.72 million.

In the same quarter last year, Boxlight reported a loss per share …

Full story available on Benzinga.com

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Fed Chief Judge Orders Recast of Trial Judges in Deadlocked SEC Case

August 13, 2019 Globe Newswire 0

CAMDEN, N.J., Aug. 12, 2019 (GLOBE NEWSWIRE) — Last Thursday, upon the federal chief of justice in the New Jersey District ordering a recall and reassignment of two federal judges in a civil lawsuit for securities fraud claims filed by the Securities and  Exchange Commission, trial court proceedings continued after a three-year deadlock and dormant status of the civil suit filed by SEC New York Division (in the New Jersey District of The Third  Circuit), that was initially part of a parallel action with the Department of Justice in New Jersey, who filed criminal charges against lobbyist Cary Peterson for the securities fraud and false certification allegations four days before the SEC filed a civil lawsuit against him and a public shell company he had been in the process of buying, for the same allegations as the attorney general.

SEC V. RVPLUS INC.TEXT ORDER FOR RECUSAL AND REASSIGNMENT OF JUDGES
Copyright Info: New World Order Politics (with podcast host David Delivera)

On or about June 12, 2019, political activist (now political prisoner), Cary Lee Peterson successfully filed and was granted ‘extraordinary  (interlocutory) relief from an emergency cross-attack motion called a prerogative writ, in efforts to jostle the Third Circuit Court of Appeals to enjoin the six-month deadlock status of appeal proceedings for his release while awaiting appeal decision and reversal of his criminal judgment of conviction from the U.S. District Court in Trenton, New Jersey.

In accordance to rules of judicial comity, Peterson’s special (prerogative) writ granted by U.S. Circuit Court Judge Restrepo, theoretically would be extended to related cases in a lower court, which resulted in the federal chief judge in New Jersey to recuse and reassign two judges originally assigned to SEC v. RVPlus, Inc. (civil case) back in 2016.

Hence, the text order by Chief Justice Freda L. Wolfson’s ‘text order reassigning judges’ recasted U.S. District Court Judge William H. Walls and Magistrate Cathy L. Waldorf shortly after Peterson filed the Bernie Sanders Gotcha Evidence, in June,  to compel the court to acknowledge the primary cause of the SEC case and the criminal parallel action launched by [then] U.S. Attorney Paul J. Fishman, who President Donald J. Trump and the U.S. Supreme Court asked to resign, after the  2017 presidential inauguration. Thereafter, Fishman returned to work in the private sector, as a legal partner at Kaye and Scholer law firm, who also employs (private) attorney associate, Ari B. Fontecchio, who Fishman hired as a (543) ‘special’ trial prosecutor in Peterson’s criminal case a month before he was succeeded by (interim) Acting U.S. Attorney William E. Fitzpatrick on January 2017.

Prior to Chief Judge Wolfson’s reassignment order, Peterson filed a legal brief confronting the district court judges’ disability, non-direction, and judicial conduct and discretion in bad faith, that resulted in several uncontested motions docket that were filed by Peterson as far back as the end of last year through the present.

Peterson had reiterated pleadings that the SEC civil complaint had sufficient grounds for dismissal due to lack of jurisdiction or venue, failed or improper service of process, and collateral estoppel- being that the SEC previously entered a stipulation agreement following …

Full story available on Benzinga.com

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Medical Solutions to Acquire C&A Industries, Inc.

August 12, 2019 Globe Newswire 0

Omaha, Nebraska, Aug. 12, 2019 (GLOBE NEWSWIRE) —

Medical Solutions, one of the nation’s largest healthcare staffing companies, today announced a definitive agreement to acquire C&A Industries, Inc., one of the most respected, family-owned staffing and recruitment firms in the country. Based in Omaha, Neb., C&A Industries is the parent company to a portfolio of workforce solutions firms including Aureus Group®, Aureus Medical Group®, AurStaff®, Celebrity Staff™, and FocusOne Solutions®, along with non-staffing affiliates, AurTravel® and AurHomes®. As part of the transaction, C&A Industries will continue to operate out of its existing headquarters in Omaha. The transaction is subject to customary closing conditions, including regulatory clearance, and is expected to close by the end of the third quarter of 2019. Additional terms of the transaction were not disclosed.

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Medical Solutions offers a range of dynamic staffing solutions aimed to address hospitals’ specific and ever-changing needs. The company connects more than 2,200 healthcare facilities across the country with highly skilled and qualified healthcare professionals. It also operates as a managed service provider (MSP), helping to streamline and simplify workforce operations by exclusively managing a hospital’s entire contingent labor staffing process.

“We’re thrilled by the opportunity to combine two industry leaders to create the premier U.S. healthcare staffing company based in Omaha,” said Craig Meier, CEO of Medical Solutions. “We are very excited to carry on the legacy and tradition of what C&A Industries has built over the past 50 years. Our businesses share a like-minded foundation and unwavering commitment to creating exceptional experiences for our employees and clients, and we look forward to strengthening this foundation together.”

“C&A Industries represents my life’s work and entrepreneurial vision that began just over 50 years ago. Looking back at our accomplishments and milestones, our steady expansion, and our strength in the most challenging of economic climates, we have led the way and remained at the forefront of our industry,” …

Full story available on Benzinga.com

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Commentary: The Logistics Of A College Football Game

August 12, 2019 FreightWaves 0

FreightWaves features Market Voices – a forum for voices with unique knowledge of numerous transportation/logistics/supply chain sectors, as well as other critical expertise.

For most of America, the excitement is building. Fall football camps have opened up and the  season is right around the corner. As the players and coaches prepare for battle and the rest of us plan our seasons carefully around our favorite teams, I wanted to offer a glimpse into the thoughtful planning and logistics that goes into pulling off a college football game.

The college football game day supply chain is as robust as it is complicated. Many suppliers, transportation modes and stakeholders are involved. Like many transportation projects, there are some products and stakeholders that matter more than others. Let’s walk through the entire process from origin to destination and examine the steps required to pull off some of the greatest sporting events in the world.

One of the football equipment trucks of the University of Arizona Wildcats.
Photo credit: boards.sportslogos.net

Origin

In preparation for a Saturday game, the players on the away team must first pack their own items for safe transport beginning on Wednesday night after practice. Players place their own pads into travel bags, the coaches pack their own clothes, shoes and sideline items into their bags while the training staff gathers and packs the necessary first aid, nutrition and safety supplies.  

“For the equipment team, it comes down to having a solid checklist and making sure that we have back ups for the back ups. We need to make sure we have multiples of any and all equipment a player or coach would need. If they need to bring it, they can forget it and it’s up to us to make sure we have the team covered in any situation, so they can focus on the game,” said Jonathon Hankinson, Football Equipment Manager at San Jose State University in California. “Every game someone forgets their leg or thigh pads, but we need to be prepared to replace a helmet or set of shoulder pads too, which we’ve had to do before. Even still, we regularly find that there is something that someone needs that we haven’t thought about before.  In that case, we add it to the checklist for future games.”

A truck that moves the equipment of the Middle Tennessee State University Blue …

Full story available on Benzinga.com

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Deliveroo Is Leaving The German Last-Mile Food Delivery Market

August 12, 2019 FreightWaves 0

On-demand food delivery startup Deliveroo has announced that it is leaving the German market, citing difficulties in maintaining the level of customer service that it offers across several other markets that it operates in. The U.K.-based startup explained that it regrets the move and claims that it was not an easy decision to make. 

“At Deliveroo we’re on a mission to create the very best food delivery service in the world, and at the heart of this is offering a service that works brilliantly for our customers, riders and restaurants,” it said in an email sent out to its users. “Where we cannot do this to the level that we expect and you deserve, we won’t operate. Therefore, Deliveroo’s focus will now be on growing our operations in other markets around the world.”

However, the writing has been on the wall for a while now. Deliveroo had struggled to grow its market capitalization in Germany, against severe competition within the food delivery space. The company closed down services in several smaller markets across Germany in 2018, then promised to focus on …

Full story available on Benzinga.com

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JD.com’s Earnings Preview

August 12, 2019 Benzinga Newsdesk 0

On Tuesday, Aug. 13, JD.com (NASDAQ: JD) will release its latest earnings report. Benzinga’s report can help you figure out the ins and outs of the earnings release.

Earnings And Revenue

Analysts covering JD.com modeled for quarterly EPS of 7 cents on revenue of $20.89 billion.

In the same quarter last year, JD.com announced EPS of 5 cents on revenue of $18.48 billion. If the company …

Full story available on Benzinga.com

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LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In 3M Company To Contact The Firm

August 12, 2019 Globe Newswire 0

NEW YORK, Aug. 12, 2019 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in 3M Company (“3M” or the “Company”) (NYSE:MMM) of the September 27, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in 3M stock or options between February 9, 2017 and May 28, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/MMMThere is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased 3M securities between February 9, 2017 and May 28, 2019 (the “Class Period”).  The case, Heavy & General Laborers’ Locals 472 & 172 Welfare Fund V. 3M Company, No. 2:19-cv-15982 was filed on July 29, 2019, and has been assigned to Judge Claire C. Cecchi.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by issuing false and misleading statements to conceal the truth …

Full story available on Benzinga.com

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Earnings Outlook For Advance Auto Parts

August 12, 2019 Benzinga Newsdesk 0

On Tuesday, August 13, Advance Auto Parts, Inc. (NYSE: AAP) will release its latest earnings report. Benzinga’s report can help you figure out the ins and outs of the earnings release.

Earnings And Revenue

Wall Street analysts see Advance Auto Parts reporting earnings of $2.21 per share on sales of $2.36 billion.

In the same quarter last year, Advance Auto Parts announced EPS of $1.97 on revenue of $2.33 billion. If the company were to match …

Full story available on Benzinga.com

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Mid-Afternoon Market Update: Dow Falls Over 350 Points; Cellect Biotechnology Shares Surge

August 12, 2019 Lisa Levin 0

Toward the end of trading Monday, the Dow traded down 1.33% to 25,936.98 while the NASDAQ fell 1.22% to 7,861.77. The S&P also fell, dropping 1.22% to 2,883.07.

Leading and Lagging Sectors
Real estate shares slipped by just 0.3% on Monday. Meanwhi…

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NETFLIX INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $500,000 Investing In Netflix, Inc. To Contact The Firm

August 12, 2019 Globe Newswire 0

NEW YORK, Aug. 12, 2019 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Netflix, Inc. (“Netflix” or the “Company”)(NASDAQ:NFLX).

If you invested in Netflix stock or options and would like to discuss your legal rights, click here:

Full story available on Benzinga.com

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LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Reckitt Benckiser Group plc To Contact The Firm

August 12, 2019 Globe Newswire 0

NEW YORK, Aug. 12, 2019 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Reckitt Benckiser Group plc (“Reckitt” or the “Company”)(OTC:RBGLY) of the September 13, 2019 deadline…

The post LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Reckitt Benckiser Group plc To Contact The Firm appeared first on Wolfe’s Blog.

LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Ideanomics, Inc. To Contact The Firm

August 12, 2019 Globe Newswire 0

NEW YORK, Aug. 12, 2019 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ideanomics, Inc. (“Ideanomics” or the “Company”) (NASDAQ:IDEX) of the September 17, 2019 deadline to seek the role of …

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IES HONORS HEALTHE’S SUNTRAC™ ECOSYSTEM IN ITS 2019 PROGRESS REPORT

August 12, 2019 Globe Newswire 0

Cocoa Beach, FL, Aug. 12, 2019 (GLOBE NEWSWIRE) — In its 2019 Progress Report, the Illuminating Engineering Society (IES) recognizes Healthe’s SunTrac™ Ecosystem as a significant advancement of lighting technology.  SunTrac brings the healthy, dynamic spectrum of the sun indoors by automatically adjusting its True Circadian™ spectrum and intensity throughout the day. The wavelengths of light produced use Healthe’s proprietary technology to go beyond color temperature – they target the body’s peak circadian sensitivity and are delivered based on the time of the day to promote a healthy circadian rhythm and sleep/wake cycle. 

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The SunTrac™ Ecosystem brings simplicity and convenience to biological lighting. Advanced technology in familiar and convenient form factors combine our popular sleep-enhancing GoodNight® spectrum and our GoodDay® energy-enhancing spectrum, easily replacing traditional lighting with healthy circadian lighting. Now you …

Full story available on Benzinga.com

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INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Reckitt Benckiser Group plc and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

August 12, 2019 Globe Newswire 0

LOS ANGELES, Aug. 12, 2019 (GLOBE NEWSWIRE) — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Reckitt Benckiser Group plc (“Reckitt” or “the Company”) (OTC: RBGLY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s American Depository Shares (“ADSs”) between July 28, 2014 and April 9, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before September 13, 2019.          

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law …

Full story available on Benzinga.com

The post INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Reckitt Benckiser Group plc and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm appeared first on Wolfe’s Blog.

Cellect Shares Rally After Lead Stem Cell Program Receives Clearance For Midstage Study

August 12, 2019 Shanthi Rexaline 0

The thinly traded nano-cap penny stock CELLECT BIOTECH/S ADR (NASDAQ: APOP) was soaring Monday.
What Happened
Israel-based Cellect, a developer of stem cell production technology, announced Monday that the Data and Safety Monitoring Board r…

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INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Intelligent Systems Corporation and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

August 12, 2019 Globe Newswire 0

LOS ANGELES, Aug. 12, 2019 (GLOBE NEWSWIRE) — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Intelligent Systems Corporation (“Intelligent Systems” or “the Company”) (NYSE: INS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between January 23, 2019 and May 29, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before September 9, 2019.   

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian …

Full story available on Benzinga.com

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Government of Canada invests in cutting-edge tools for universities

August 12, 2019 Globe Newswire 0

EDMONTON, Alberta, Aug. 12, 2019 (GLOBE NEWSWIRE) — Researchers across the country need the best labs and tools to spark discoveries that lead to healthy communities, clean air and water, new job opportunities and a prosperous future. That’s why the Honourable Kirsty Duncan, Minister of Science and Sport, today announced more than $61 million for state-of-the-art research labs and equipment through the Canada Foundation for Innovation’s (CFI) John R. Evans Leaders Fund (JELF). This investment will support 261 projects at 40 universities across Canada.

The Fund helps exceptional university scientists conduct leading-edge research by giving them the tools and equipment they need to become leaders in their field. The University of Alberta is receiving more than $2.2 million for 10 research infrastructure projects that will, among other things, ensure food safety, improve end-of-life care for patients, reclaim mining sites and reduce air pollution.

This investment will also help support Dr. Sandra Davidge, a pioneer in cardiovascular health in women and children at the University of Alberta. She is receiving funding for specialized imaging equipment that will enable her and her team to understand the link between low oxygen flow to an unborn baby and the risk of cardiovascular disease later in life. The team’s work will help create early interventions that will allow these babies to grow into heart-healthy adults. This is just one example of how new investments in research infrastructure trigger innovations that affect the lives of everyday Canadians.  

While in Edmonton, Minister Duncan also signed the Dimensions Charter with the University of Alberta. …

Full story available on Benzinga.com

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INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Helius Medical Technologies, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

August 12, 2019 Globe Newswire 0

LOS ANGELES, Aug. 12, 2019 (GLOBE NEWSWIRE) — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Helius Medical Technologies, Inc. (“Helius” or “the Company”) (NASDAQ: HSDT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares between November 9, 2017 and April 10, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before September 9, 2019.

If you are a shareholder who suffered a loss, click here to participate.

We also …

Full story available on Benzinga.com

The post INVESTOR ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Helius Medical Technologies, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm appeared first on Wolfe’s Blog.

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The Week Ahead In Biotech: Vanda Awaits FDA Decision, BioVie Plans IPO

August 11, 2019 Shanthi Rexaline 0

Biotech stocks came under pressure this week along with the broader market amid an earnings spate. The biggest news break was an FDA probe into data integrity issues with Novartis AG (NYSE: NVS)’s regulatory submission for its recently approved gene therapy Zolgensma.

The following are key biotech catalysts for the unfolding week.

Conferences

2nd International Conference on Cardiovascular Diseases and Therapeutics: Aug. 12-13 in Amsterdam, Netherlands

International Conference on Tuberculosis and Respiratory Diseases: Aug. 12-13 in London

Wedbush PacGrow Healthcare Conference: Aug. 13-14 in New York City

PDUFA Dates

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) awaits an FDA decision on its sNDA for Hetlioz, with the D-date fixed for Friday, Aug. 16. Hetlioz is being evaluated for jet lag disorder. Hetlioz received its first approval in January 2014 for non-24-hour sleep-wake disorder in blind people. 

KemPharm Inc (NASDAQ: KMPH) is expected to submit its NDA for KP415, which is being evaluated for …

Full story available on Benzinga.com

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Some Good News For The Russia ETF

August 11, 2019 ETF Professor 0

The VanEck Vectors Russia ETF (NYSE: RSX), the largest Russia exchange traded fund trading in New York, slipped 1.37% Friday, extending its month-to-date decline to over 6%.

Late in the day, some positive news for RSX emerged.

What Happened

On Friday, Fitch Ratings boosted its rating on Russia’s long-term issuer default rating from BBB- to BBB with a stable outlook. While RSX has recently struggled against the backdrop of declining oil prices, the Fitch upgrade brings a measure of confidence for Russian assets, which are typically more volatile than the broader emerging markets complex.

“Russia has entrenched a credible and consistent policy framework that will deliver improved macroeconomic stability, reduce the impact of oil price volatility on the economy and support increased resilience …

Full story available on Benzinga.com

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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of 3M Company – MMM

August 10, 2019 Globe Newswire 0

NEW YORK, Aug. 10, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of 3M Company (“3M” or the “Company”) (NYSE:MMM). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-4…

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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of 3M Company – MMM

August 10, 2019 Globe Newswire 0

NEW YORK, Aug. 10, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of 3M Company (“3M” or the “Company”) (NYSE:MMM). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-4…

The post SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of 3M Company – MMM appeared first on Wolfe’s Blog.

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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Aclaris Therapeutics, Inc. – ACRS

August 10, 2019 Globe Newswire 0

NEW YORK, Aug. 10, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Aclaris Therapeutics, Inc. (“Aclaris” or the “Company”) (NASDAQ:ACRS). Such investors are advised to contact Robert S. Willoughby at rswillou…

The post SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Aclaris Therapeutics, Inc. – ACRS appeared first on Wolfe’s Blog.

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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Realogy Holdings Corporation – RLGY

August 10, 2019 Globe Newswire 0

NEW YORK, Aug. 10, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Realogy Holdings Corporation  (“Realogy” or the “Company”) (NYSE:RLGY).   Such investors are advised to contact Robert S. Willoughby at rswil…

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Havertys Announces Third Quarter Increased Cash Dividend and New Authorization Under Stock Repurchase Program

August 9, 2019 Globe Newswire 0

ATLANTA, Aug. 09, 2019 (GLOBE NEWSWIRE) — HAVERTYS (NYSE:HVT) announced today that, on August 9, 2019, its board of directors approved an increase in its quarterly dividend. The board raised the dividend on the company’s common stock 11% from $0.18 per share to $0.20 per share. The quarterly dividend for the company’s Class A common stock was also increased from $0.17 per share to $0.19 per share. The dividend is payable on September 11, 2019 to stockholders of record at the close of business on …

Full story available on Benzinga.com

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Havertys Announces Third Quarter Increased Cash Dividend and New Authorization Under Stock Repurchase Program

August 9, 2019 Globe Newswire 0

ATLANTA, Aug. 09, 2019 (GLOBE NEWSWIRE) — HAVERTYS (NYSE:HVT) announced today that, on August 9, 2019, its board of directors approved an increase in its quarterly dividend. The board raised the dividend on the company’s common stock 11% from $0.18 per share to $0.20 per share. The quarterly dividend for the company’s Class A common stock was also increased from $0.17 per share to $0.19 per share. The dividend is payable on September 11, 2019 to stockholders of record at the close of business on …

Full story available on Benzinga.com

The post Havertys Announces Third Quarter Increased Cash Dividend and New Authorization Under Stock Repurchase Program appeared first on Wolfe’s Blog.