Daily Stock Reporter is issuing a report on four stocks to watch. DryShips Inc. (NASDAQ:DRYS), Kandi Technologies Group Inc (NASDAQ:KNDI), Xinyuan Real Estate Co., Ltd. (ADR) (NYSE:XIN), and India Globalization Capital, Inc. (NYSEMKT:IGC) have been added to our watchlist today. Continue reading to find out why. – To get daily alerts on top stocks on the OTCQB, OTCQX, Nasdaq, NYSE, and OTCBB, subscribe to our newsletter at DailyStockReporter.com.
DryShips Inc. (NASDAQ:DRYS) reported fourth quarter revenue results last week. For the fourth quarter of 2015, the Company reported a net loss of $527.6 million, or $0.79 basic and diluted loss per share. On March 3, 2016, the Company received notice of termination from Petroleo Brasileiro S.A. of the contract for the oil spill recovery vessel Vega Juniz effective as of March 9, 2016. The contract of the Vega Juniz was expiring on April 25, 2017 and this termination represents a loss in contracted EBITDA of approximately $2.8 million for the balance of 2016. Despite these results, shares of DRYS have rallied on Monday (3/14) from an opening price of $2.12 to highs of $2.775 before noon. This move represented an increase by more than 30% and volume is nearly that of Friday’s (3/11) volume. Difference being that price movement is much more positive than negative.
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Kandi Technologies Group Inc (NASDAQ:KNDI) announced its financial results for the fourth quarter and year ended December 31, 2015, this morning. Results include total revenues growing 11.2% to $58.8 million for the fourth quarter of 2015, from $52.9 million for the same period of 2014. Electric Vehicle parts sales increased also increased. This jump was equal to 51.6% and $57.5 million for the fourth quarter of 2015, compared with $37.9 million in the same period of 2014. Shares of KNDI moved up 15% from its Friday (3/11) close of $7.75 to highs on Monday of $8.95. Volume has more than doubled from last week’s activity. Kandi has established itself as one of China’s leading manufacturers of pure electric vehicle products (through its joint venture), EV parts and off-road vehicles.
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Xinyuan Real Estate Co., Ltd. (ADR) (NYSE:XIN) also recently reported earnings this month. The company recorded a total fourth quarter revenue increase of 13.9% to US$413.6 million from $362.9 million in the fourth quarter of 2014 and increased 33.9% from US$309.0 million in the third quarter of 2015. Furthermore, contract sales increased 42.6% to US$574.2 million from US$402.6 million in the fourth quarter of 2014 and increased 85.4% from US$309.7 million in the third quarter of 2015. Since last week the stock has climbed from a close of $4 to high on Monday (3/14) of $4.22 with volume climbing at an even higher rate as compared to Friday.
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Eanings Review: Rambus Inc. (NASDAQ:RMBS), Revlon Inc (NYSE:REV)
Revlon Inc(NYSE:REV) +2.5% after-hours after announcing that President and CEO Fabian Garcia is stepping down “to pursue other opportunities,” and Executive Vice Chair Paul Meister will oversee operations on an interim basis.
REV also says it expects Q4 revenues of $785M, below $801M from the year-earlier quarter but ahead of analyst consensus estimate of $743M, and a $60M-$80M net loss for the quarter due to a charge related to the recent tax law changes.
REV expects Q4 adjusted EBITDA of $110M-$115M vs. $115M analyst consensus.
CFO Chris Peterson also denies rumors that the company is considering a material asset transfer that would shield assets from lenders.
Rambus Inc.(NASDAQ:RMBS) shares are down 5.5% aftermarket following Q4 results that beat revenue estimates and met on EPS. In-line Q1 guidance (under ASC 605 accounting change) has revenue from $94M to $100M (consensus: $100.38M) and EPS from $0.17 to $0.23 (consensus: $0.18).
Revenue breakdown: Royalties, $77.9M (+10% Y/Y); Product, $8.5M (-27%); Contract and other revenue, $15.5M (+2%); Licensing billings, $76.6M (+18%).Key metrics: Non-GAAP operating margin, 31%; total operating expenses, $67.5M; cash and equivalents, $172.2M; cash flow from operations, $33.3M.
ADTRAN, Inc. (NASDAQ:ADTN) Hits New Lows After Issuing disappointing Earnings Forecast
ADTRAN, Inc.(NASDAQ:ADTN) slumped to a 52-week low after forecasting below consensus guidance for Q4, revising its revenue estimate downward to $125M from $155M-$165M earlier and seeing EPS of ~$0.01; analysts had expected EPS of ~$0.14 and revenue of $161.2M.
ADTN also projects Q1 to come in at roughly the same as Q4, misses analyst consensus of $167.5M.
CEO Tom Stanton says Q4 results have been hurt by a merger-related review, which ADTN expects to be completed in 60-90 days, and slowdown in the spending at a domestic Tier 1 customer.
MKM Partners analyst Michael Genovese believes the customer is CenturyLink (CTL -2%), which accounted for 24% of ADTN’s total sales in 2016.
The analyst thinks the weakness should prove temporary, adding that ADTN’s performance likely will accelerate into 2019 as the company stands to benefit from 5G spending; MKM trims its ADTN target price to $25 from $27 but keeps its Buy rating.
Big IPO Coming: Celator Pharmaceuticals Inc(NASDAQ:CPXX), Moleculin Biotech’s (MBRX)
Today at 10am Eastern, Moleculin Biotech ticker symbol MBRX will debut on the Nasdaq stock exchange and is being considered as one of the most highly anticipated IPO’s of 2016 by the street. The excitement and anticipation is arising from many experts saying that Moleculin Biotech’s (MBRX) drug annamycin is far superior to Celator Pharmaceuticals Inc(NASDAQ:CPXX) drug daunorubicin.
CPXX which has been bought out by Jazz Pharmaceuticals plc – Ordinary Shares(NASDAQ:JAZZ) for $1.5 Billion Dollars last week, share price ran from $1.6 to $31 in 2 months. Moleculin Biotech’s share structure is a 1.5m public float Priced at $6.