Despite a Herculean effort by clothing and apparel retailers to forge ahead into 2014, the persistently sluggish retail marketplace is holding many of them back.
dELiA*s Inc. (NASDAQ:DLIA) is one such company.
The retailer that focuses on clothing for teenage girls share volume soared on Feb. 21, 2014, with 2,831,891 shares changing hands, more than three times its three-month average volume of 874,516
Disappointing Fourth Quarter
The surge in volume comes only a few days after the retailer for teenage girls released its disappointing preliminary fourth quarter fiscal 2013 results, which were not good.
Total revenue decreased 34.2% to $35.4 million as compared to $53.7 million in the fourth quarter of fiscal 2012. Revenue from the retail segment decreased 33.0% to $22.0 million, including a comparable store sales decrease of 26.9%. Revenue from the direct segment decreased 36.0% to $13.4 million.
- Consolidated gross margin is expected to be between 7.0% and 8.0% compared to 29.6% in the prior year quarter.
- Loss from continuing operations is expected to be between $17.0 million and $18.0 million. This does not include any potential non-cash impairment charges.
- Total net inventories were $19.6 million at year end compared to $24.8 million at the end of the prior year.
- Additionally, the dELiA*s ended the 2013 fiscal year with $3.2 million of cash and cash equivalents and $14.5 million in borrowings under its revolving credit facility.
A Positive Spin
“We remain in the early stages of our turnaround and we believe the headwinds that continue to pressure the retail industry hampered our progress in the fourth quarter,” dELiA*s CEO Tracy Gardner said, in a written statement.
On Feb. 21, the share price of DLIA closed at 76 cents, up 6 cents from previous day‘s share price of 70 cents.
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Acquisition of 4-Antibody Completed
In the biotechnology sector, Agenus Inc. (NASDAQ: AGEN) stock volume also skyrocketed on Feb. 21, with 2,555,405 shares changing hands, more than three times its three-month average volume of 733,785 shares.
This recent uptick in volume and share price appears to be connected to the Lexington, Mass.-based biopharmaceutical company’s recent announcement that it has completed the previously announced acquisition of 4-Antibody AG, a private European-based biopharmaceutical company.
The acquisition includes the Retrocyte Display(R) technology platform which enables rapid discovery and optimization of fully human antibodies against a wide array of molecular targets.
For the past three years, 4-Antibody has been applying Retrocyte Display to create therapeutic antibodies to six key checkpoint targets that regulate immune response to cancers and other diseases. The company has multiple preclinical immune CPM programs in development.
In this transaction, Agenus acquired all outstanding stock of 4-Antibody for approximately 3.3 million shares of Agenus common stock, plus additional contingent payments, payable in cash or Agenus common stock, that may exceed $40 million based on the combined company achieving certain milestones.
Agenus intends to continue 4-Antibody's operations in Basel, Switzerland and Jena, Germany, and to retain the 4-Antibody management team as part of the combined company. In addition, Shahzad Malik, M.D., General Partner at Advent Venture Partners, 4-Antibody's largest investor, has been appointed to Agenus' Board of Directors upon the closing.
Shareholders are still reacting positively to this latest move.
On Feb. 21, the share price of AGEN closed at $3.88, up 25 cents from previous day‘s share price of $3.63.
Find out what could be the best investor’s move when it comes to AGEN by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Adding Two Dry-Bulk Ships to Fleet
Meanwhile, Greek shipping company NewLead Holdings Ltd.’s (NASDAQ: NEWL) stock volume rallied Feb. 21, with a robust volume of 1,921,768 shares, significantly higher than its three-month average of 1,210,405 shares.
The uptick appears to be tied to the recent positive news that NewLead receive financing for adding two new dry-bulk ships to its fleet.
According to its release, the company signed a term sheet with a leading financial institution to provide 75% debt financing for two eco-type 31,800 dwt, 2012-built Handysize vessels for a total of $37.0 million. The two vessels are expected to be delivered to NewLead's fleet within the next three months.
“We are pleased to achieve the next milestone in the transformation of NewLead. We are focused on developing scale in our fleet. The financing deal announced today illustrates third party belief in our company.” NewLead’s Chairman and CEO Michael Zolotas stated, in a written statement.
On Feb. 21, the share price of NEWL closed at 69 cents, unchanged from previous day‘s share price.
Find out what could be the best investor’s move when it comes to NEWL by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Finally, Opexa Therapeutics Inc. (NASDAQ: OPXA) stock volume also shot through the roof Feb 21, with 1,807,107 shares changing hands, more than three times its three-month average volume of 537,349 shares.
There has been no news on the biopharmaceutical company that develops personalized cellular therapies to treat multiple sclerosis based on its proprietary T-cell technology.
On Feb. 21, the share price of OPXA closed at $1.76, up 6 cents from previous day‘s share price of $1.70.
Find out what could be the best investor’s move when it comes to OPXA by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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