Day: May 20, 2021

DDD – 3D Systems Corp. Class Action Reminder: Kessler Topaz Meltzer & Check, LLP Reminds Shareholders of Deadline in Securities Fraud Class Action Lawsuit

RADNOR, Pa., May 20, 2021 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors of  3D Systems Corp. (NYSE:  DDD) (“3D Systems”) that a securities fraud class action lawsuit has been filed on behalf of those who purchased or acquired 3D Systems securities between May 6, 2020 and March 1, 2021, inclusive (the “Class Period”).

Deadline Reminder:  Investors who purchased or acquired 3D Systems securities during the Class Period may, no later than June 8, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP:  James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail at [email protected]; or click https://www.ktmc.com/3d-systems-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=3d

3D Systems provides comprehensive 3D printing and digital manufacturing solutions, including 3D printers for plastics and metals, materials, software, on-demand manufacturing services, and digital design tools.

The Class Period commences on May 6, 2020, when after the market closed, 3D Systems filed a Form 10-Q quarterly report for the quarterly period ended March 31, 2020.  As part that filing, certain of the defendants included certifications attesting to, among other things, the accuracy of financial reporting, the disclosure of any material changes to the company’s internal control over financial reporting and the disclosure of all fraud.  Thereafter, 3D Systems filed quarterly reports on August 5, 2020 and November 5, 2020, attesting to the accuracy of the same information.

On March 1, 2021, 3D Systems issued a press release announcing a delay of filing its 10-K Annual Report for the fiscal year ended December 31, 2020. In pertinent part, the press release stated that 3D Systems will delay filing its Annual Report on a Form 10-K and that the delay “is primarily related to the presentation of cash flows associated with the divestiture process for its Cimatron and GibbsCam software businesses.”  Further, 3D Systems stated, “the company will report material weaknesses in internal controls in its fiscal 2020 Annual Report on Form 10-K.”

Following this news, 3D Systems’ stock price fell $7.62 per share, or more than 19.6%, from closing at $38.79 per share on March 1, 2021 to close at $31.17 per share on March 2, 2021.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) 3D Systems lacked proper internal controls over financial reporting; and (2) as a result, 3D Systems’ public statements were materially false and/or misleading at all relevant times.

3D Systems investors may, no later than June 8, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member.  A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE Kessler Topaz Meltzer & Check, LLP

Related Links

http://www.ktmc.com

MCD – McDonald's franchisee fight over tech fees could wind up in court

In this article

Jeff Greenberg | Universal Images Group | Getty Images

At a time when McDonald’s U.S. business continues to outperform, some franchisees are voicing support for a potential legal action against the fast food giant over $70 million in past technology fees.

CNBC has obtained a copy of an internal survey of 225 members of independent franchisee organization, the National Owners Association, which shows nearly 75% of operators polled say they support owner leadership filing an injunction to stop the collection of the fee. Of that group, 17% were undecided and 9% said they did not support the action. NOA has some 1,200 members and McDonald’s has some 2,000 U.S. franchisees.

The results of the NOA survey were first reported by trade publication Restaurant Business. McDonald’s did not immediately respond to request for comment.

KPMG is currently performing an independent audit of the situation and is expected to finish by mid-May.

The fees have been a source of conflict in recent months. In a February email from NOA to its members that was viewed by CNBC, the group’s board said McDonald’s hadn’t proven franchisees owe technology fees of $423 a month on past uncollected dues that amount to $70 million. McDonald’s has agreed to an independent audit in an attempt to resolve the dispute, but has maintained it has “absolute confidence” the fee is owed to the company, according to internal communications viewed by CNBC.

“What we do not do, is allow our suppliers to dictate to us what we owe and what we don’t owe other than on the basis of services rendered. If we find ourselves in this type of relationship, we find a different supplier,” said the February email to owners from the NOA board.

The division goes beyond the technology fee dispute. Some franchisees have also expressed frustration with rising technology fees and the performance of the company’s technology, more boadly.

Separately, the NOA board also notably shared with members a recommendation from advisory firm Glass Lewis that McDonald’s board chairman Enrique Hernandez Jr. and compensation chair Richard Lenny not be reelected at the company’s shareholder meeting, over their handling of the firing and severance for former CEO Steve Easterbrook.

The NOA board did not provide its own voting proposals, but a source familiar with franchisee leadership said the sharing of the report was “unprecedented.” All directors were re-elected at the meeting Thursday, despite campaigns to oust the two directors over Easterbrook’s severance.

Easterbrook was terminated in November 2019 for having a relationship with an employee in violation of company policies. The company is now suing to claw back his package, alleging that he lied about having other relationships with employees.

BEEM – Beam Global Schedules Fiscal First Quarter 2021 Financial Results Conference Call for May 24, 2021 at 4:30 p.m. ET

SAN DIEGO, May 20, 2021 (GLOBE NEWSWIRE) — Beam Global, (Nasdaq: BEEM, BEEMW), (the “Company”), the leading provider of innovative sustainable technology for electric vehicle (EV) charging, outdoor media and energy security, announced that the Fiscal First Quarter 2021 financial results will take place on Monday May 24, 2021 after market close. Management will host a conference call at 4:30 p.m. ET to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

Conference call details:

Date:   May 24, 2021
Time:   4:30 p.m. Eastern/1:30 p.m. Pacific
Toll-Free Dial-In Number:   +1-844-739-3880
International Dial-In Number:   +1-412-317-5716

Pre-register for the call through this link: https://dpregister.com/sreg/10156949/e8d906c5f6

All callers should pre-register for the call through the link above. Please dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the Beam Global call.

A webcast archive is available for 3 months following the call at the following URL: https://services.choruscall.com/mediaframe/webcast.html?webcastid=dmWfd6VU

About Beam Global
Beam Global is a CleanTech leader that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.

The Company develops, patents, designs, engineers and manufactures unique and advanced renewably energized products that save customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the Company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly Envision Solar, EVSI, EVSIW). For more information visit https://BeamForAll.com/, LinkedIn, YouTube and Twitter.

Media Contact:
Next PR
Press@BeamForAll.com
+1-813-526-1195

Investor Relations:
Kathy McDermott
IR@BeamForAll.com
+1-858-295-7661

KOD – Kodiak Sciences to Present at Upcoming Conferences

PALO ALTO, Calif., May 20, 2021 /PRNewswire/ — Kodiak Sciences Inc. (Nasdaq: KOD), a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases, today announced that management will present at the following upcoming virtual investor conferences:

  • Jefferies Virtual Healthcare Conference on Thursday, June 3 at 1:00 p.m. Pacific Time (4:00 p.m. Eastern Time)
  • Goldman Sachs 42nd Annual Global Healthcare Conference on Tuesday, June 8 at 1:40 p.m. Pacific Time (4:40 p.m. Eastern Time)

A live webcast of both presentations will be available on the “Events and Presentations” section of Kodiak’s website at http://ir.kodiak.com/ and will remain available for replay for a limited time following the events.

About Kodiak Sciences Inc.

Kodiak (Nasdaq: KOD) is a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases. Founded in 2009, we are focused on bringing new science to the design and manufacture of next generation retinal medicines to prevent and treat the leading causes of blindness globally. Our ABC Platform™ uses molecular engineering to merge the fields of antibody-based and chemistry-based therapies and is at the core of Kodiak’s discovery engine. Kodiak’s lead product candidate, KSI-301, is a novel anti-VEGF antibody biopolymer conjugate being developed for the treatment of retinal vascular diseases including age-related macular degeneration, the leading cause of blindness in elderly patients in the developed world, and diabetic eye diseases, the leading cause of blindness in working-age patients in the developed world. Kodiak has leveraged its ABC Platform to build a pipeline of product candidates in various stages of development including KSI-501, our bispecific anti-IL-6/VEGF biopolymer conjugate for the treatment of neovascular retinal diseases with an inflammatory component, and we are expanding our early research pipeline to include ABC Platform based triplet inhibitors for multifactorial retinal diseases such as dry AMD and glaucoma. Kodiak is based in Palo Alto, CA. For more information, please visit www.kodiak.com.

Kodiak®, Kodiak Sciences®, ABC™, ABC Platform™ and the Kodiak logo are registered trademarks or trademarks of Kodiak Sciences Inc. in various global jurisdictions.

SOURCE Kodiak Sciences Inc.

Related Links

http://www.kodiak.com

AINV – Apollo Investment (AINV) Misses Q4 Earnings and Revenue Estimates

Apollo Investment (AINV Free Report) came out with quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -4.88%. A quarter ago, it was expected that this investment company would post earnings of $0.39 per share when it actually produced earnings of $0.43, delivering a surprise of 10.26%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Apollo Investment, which belongs to the Zacks Financial – SBIC & Commercial Industry industry, posted revenues of $50.83 million for the quarter ended March 2021, missing the Zacks Consensus Estimate by 3.27%. This compares to year-ago revenues of $71.6 million. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Apollo Investment shares have added about 37.3% since the beginning of the year versus the S&P 500’s gain of 9.6%.

What’s Next for Apollo Investment?

While Apollo Investment has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Apollo Investment was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.40 on $52.28 million in revenues for the coming quarter and $1.54 on $213.12 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial – SBIC & Commercial Industry is currently in the bottom 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

AMAT – Applied Materials (AMAT) Q2 Earnings and Revenues Beat Estimates

Applied Materials (AMAT Free Report) came out with quarterly earnings of $1.63 per share, beating the Zacks Consensus Estimate of $1.51 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 7.95%. A quarter ago, it was expected that this maker of chipmaking equipment would post earnings of $1.27 per share when it actually produced earnings of $1.39, delivering a surprise of 9.45%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Applied Materials, which belongs to the Zacks Semiconductor Equipment – Wafer Fabrication industry, posted revenues of $5.58 billion for the quarter ended April 2021, surpassing the Zacks Consensus Estimate by 3.52%. This compares to year-ago revenues of $3.96 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Applied Materials shares have added about 44.6% since the beginning of the year versus the S&P 500’s gain of 9.6%.

What’s Next for Applied Materials?

While Applied Materials has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Applied Materials was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.57 on $5.55 billion in revenues for the coming quarter and $6 on $21.76 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Semiconductor Equipment – Wafer Fabrication is currently in the top 11% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

BJ – BJ's Wholesale Club (BJ) Q1 Earnings and Revenues Beat Estimates

BJ’s Wholesale Club (BJ Free Report) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 26.32%. A quarter ago, it was expected that this wholesale membership warehouse operator would post earnings of $0.66 per share when it actually produced earnings of $0.70, delivering a surprise of 6.06%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

BJ’s, which belongs to the Zacks Consumer Services – Miscellaneous industry, posted revenues of $3.87 billion for the quarter ended April 2021, surpassing the Zacks Consensus Estimate by 3.62%. This compares to year-ago revenues of $3.8 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

BJ’s shares have added about 30.3% since the beginning of the year versus the S&P 500’s gain of 9.6%.

What’s Next for BJ’s?

While BJ’s has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for BJ’s was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.69 on $3.83 billion in revenues for the coming quarter and $2.65 on $15.14 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Consumer Services – Miscellaneous is currently in the top 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

BRC – Brady (BRC) Q3 Earnings and Revenues Surpass Estimates

Brady (BRC Free Report) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 2.90%. A quarter ago, it was expected that this identification and security products maker would post earnings of $0.61 per share when it actually produced earnings of $0.59, delivering a surprise of -3.28%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Brady, which belongs to the Zacks Security and Safety Services industry, posted revenues of $295.5 million for the quarter ended April 2021, surpassing the Zacks Consensus Estimate by 3.69%. This compares to year-ago revenues of $265.94 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Brady shares have added about 4.1% since the beginning of the year versus the S&P 500’s gain of 9.6%.

What’s Next for Brady?

While Brady has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Brady was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.69 on $287.8 million in revenues for the coming quarter and $2.60 on $1.12 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Security and Safety Services is currently in the bottom 18% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

DECK – Deckers (DECK) Beats Q4 Earnings and Revenue Estimates

Deckers (DECK Free Report) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 103.45%. A quarter ago, it was expected that this maker of Ugg footwear would post earnings of $7.01 per share when it actually produced earnings of $8.99, delivering a surprise of 28.25%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Deckers, which belongs to the Zacks Shoes and Retail Apparel industry, posted revenues of $561.19 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 28.11%. This compares to year-ago revenues of $374.91 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Deckers shares have added about 12.7% since the beginning of the year versus the S&P 500’s gain of 9.6%.

What’s Next for Deckers?

While Deckers has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Deckers was favorable. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.21 on $352 million in revenues for the coming quarter and $14.34 on $2.7 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Shoes and Retail Apparel is currently in the top 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.