These 3 Stocks Popped on a Red Day


 
 
03:09 11/10/2017

Despite reporting a first quarter loss, shares of Immunomedics, Inc. IMMU  are up 18 percent today. The company reported a loss of $118.7 million in its fiscal first quarter. On a per-share basis, the New Jersey based company said it had a loss of 97 cents. Losses, adjusted for non-recurring costs, were 16 cents per share.

The biopharmaceutical company posted revenue of $690,500 in the period. Its adjusted revenue was $690,000. Immunomedics shares have nearly tripled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.44, more than quadrupling in the last 12 months



China based Orient Paper, Inc.ONP  shares are up 66 percent today after reporting financial Revenue decreased by 10.6% to $33.5 million, primarily attributable to a decrease in overall sales volume and partially offset by an increase in blended average selling prices ("ASPs") particularly for regular CMP and Light-Weight CMP that increased by 59.4% and 47.9%, respectively.

The decrease in sales volume was primarily due to the continued government-mandated restriction on production in compliance with environmental regulation and due to our replacement of outdated paper facilities.

Gross profit decreased by 1.5% to $7.2 million. Gross margin increased by 2.0 percentage points to 21.6%. The increase in gross margin was primarily related to CMP as a result of significant increase in ASP. Net income was $1.6 million, or $0.07 per diluted share, compared to $3.0 million, or $0.14 per diluted share, for the same period of last year.



Third quarter profits pops shares of Avid Technology, Inc. AVID  27 percent after reporting third-quarter net income of $72,000 and revenue of $105.3 million in the period. For the current quarter ending in December, Avid said it expects revenue in the range of $103 million to $113 million.


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