Connect with us
  • tg

Stock Markets

Exagen stock touches 52-week high at $2.75 amid market fluctuations

letizo News

Published

on

In a market that has seen its fair share of volatility, Exagen Inc . (NASDAQ:) has managed to carve out a notable milestone, reaching a 52-week high of $2.75. This peak comes amidst a backdrop of cautious investor sentiment, yet it signifies a robust performance for the diagnostics company, which has seen a modest 1-year change in its stock value, appreciating by 1.91%. The achievement of this 52-week high marks a significant point of interest for shareholders and potential investors, as it reflects the company’s resilience and potential for growth in a challenging economic climate.

In other recent news, Exagen Inc. has reported significant financial improvements in the second quarter of 2024. The diagnostics company noted a 53% year-over-year improvement in adjusted EBITDA loss, now at $1.6 million, and a 30% increase in quarterly revenue, totaling $15.1 million. Exagen raised its full-year revenue guidance to at least $57 million and expects an improved adjusted EBITDA loss of less than $12 million.

The company also announced upgrades to its AVISE CTD test, which are expected to drive the company to cash flow positivity within a year of launch. Exagen has signed significant biopharma contracts, with expectations of a meaningful impact on the organization. In addition, the company’s net loss in Q2 2024 was $3 million, a 40% improvement year-over-year.

These recent developments indicate a positive trajectory for Exagen, with plans for product enhancements and increased presence in the rheumatologist market. The company is also working on publishing manuscripts to validate clinical markers and conducting clinical trials for product utility, with results expected in 2025.

InvestingPro Insights

As Exagen Inc. (XGN) hits a new 52-week high, the InvestingPro platform offers some intriguing insights that may be of interest to shareholders and potential investors. The company has experienced a notable return over the last three months, with a 75% price total return, showcasing strong short-term performance. This momentum is further underscored by the fact that the stock’s price is currently at 96.18% of its 52-week high, reinforcing investor confidence in the stock’s recent gains.

InvestingPro Tips suggest that while analysts have revised their earnings upwards for the upcoming period, reflecting optimism about the company’s future performance, they do not anticipate the company to be profitable this year. Additionally, the Relative Strength Index (RSI) indicates that the stock is in overbought territory, which could suggest a potential pullback or consolidation in the near term.

From a financial health perspective, Exagen Inc. operates with a moderate level of debt, and its liquid assets exceed short-term obligations, which is a positive sign for the company’s ability to manage its finances amidst market fluctuations. For those interested in exploring more about Exagen Inc., there are additional InvestingPro Tips available at https://www.investing.com/pro/XGN.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

Palestinians say Israeli strike killed 22 in shelter, army says militants hit

letizo News

Published

on

By Dawoud Abu Alkas and Nidal al-Mughrabi

GAZA/CAIRO (Reuters) -Palestinians said an Israeli strike killed at least 22 people in a school sheltering displaced people in southern Gaza City on Saturday, while the Israeli military said the attack targeted a command centre of militant group Hamas.

The Gaza health ministry said most of those killed were women and children. The Hamas-run government media office said 13 children and six women were among the dead.

The military said it hit a Hamas command centre embedded in the compound that previously served as a school, repeating an accusation that the group uses civilian facilities for military purposes. Hamas denies that.

Reuters footage from the site showed blasted walls, wrecked and burnt furniture, and holes in the ceiling of one room as people tried to salvage what they could of belongings.

“The women and their children were sitting in the playground of the school, the kids were playing, and suddenly two rockets hit them,” said one witness Said Al-Malahi.

Some of the dead were wrapped in blankets and carried away on donkey carts, as ambulances transferred other bodies.

“I couldn’t take it, I did not see a single man that is injured, it was all women and children, let the Arab countries rejoice, let them rejoice and clap for (Israeli Prime Minister Benjamin) Netanyahu and the United States of America,” said another eyewitness, Ahmed Azzam, bitter that regional neighbours were not taking a tougher line against Israel.

MEDICS KILLED

In Rafah, in the southern Gaza Strip, the Gaza health ministry said four health workers were killed by an Israeli strike that hit ministry warehouses. Ambulance crews could not reach the dead or treat the wounded, it added.

In a statement, the Israeli military said forces, operating in Rafah since May, have killed dozens of militants in recent weeks and dismantled military infrastructure and tunnel shafts.

Israel’s demand to keep control of the southern border line between Rafah and Egypt has been a major sticking point in international efforts to conclude a ceasefire deal.

Hamas says it is focused on an agreement to end the war and get Israeli forces out of Gaza, while Israel says the war can only end once Hamas is eradicated. Another sticking point has been the specifics of an exchange of Israeli hostages for Palestinian prisoners held by Israel.

© Reuters. Palestinians inspect a school, which was sheltering displaced people, after it was hit by an Israeli strike, amid the Israel-Hamas conflict, in Gaza City, September 21, 2024. REUTERS/Dawoud Abu Alkas

This war in the decades-old Israeli-Palestinian conflict was triggered on Oct. 7 when Hamas attacked Israel, killing 1,200 people and taking about 250 hostages, according to Israeli tallies.

Israel’s subsequent assault on the enclave has killed more than 41,000 Palestinians, according to the local health ministry, and displaced nearly the entire 2.3 million-strong population.

(Reporting and writing by Nidal al-Mughrabi; Additional reporting by Dawoud Abu Alkas in Gaza, Adam Makary in Cairo and Ali Sawafta in Ramallah; Editing by Andrew Heavens and Andrew Cawthorne)

Continue Reading

Stock Markets

Trump to visit North Carolina as scandal swirls around Republican ally

letizo News

Published

on

By James Oliphant

(Reuters) – Republican presidential candidate Donald Trump will not be joined by his party’s embattled pick for North Carolina governor when he visits the critical electoral state on Saturday, the Trump campaign said.

Trump previously endorsed Mark Robinson, who was the subject of an explosive CNN report this week that he once called himself a Black Nazi and proposed bringing back slavery in comments posted on a pornography website. 

Robinson, the state’s lieutenant governor, denied the allegations and has said he will remain in the governor’s race. His campaign could not be reached for comment.

Some Republicans fear his candidacy in one of the country’s highest-profile down-ballot races this year could damage Trump’s chances in the battleground state, where polls show Trump essentially tied with Democratic rival Kamala Harris ahead of the Nov. 5 election.

Ahead of Trump’s afternoon rally in Wilmington, North Carolina on Saturday, the Democratic National Committee launched new advertising across the cities of Raleigh, Charlotte and Greensboro tying the former president to Robinson. 

The billboard ads show a photo of the two men together, along with direct quotes from Trump previously calling Robinson an “outstanding person” and an “incredible gentleman.” 

The Harris campaign also began running a TV ad in the state on Friday featuring Trump’s past praise for Robinson.  

In March, Trump called Robinson “Martin Luther King on steroids” after Robinson delivered remarks in Greensboro, and Robinson appeared at a Trump event as recently as last month. Robinson would be the state’s first Black governor if elected.  

Robinson has a history of inflammatory rhetoric, at times referring to Muslims as “invaders” and calling gay and transgender people “filth.” He has made comments denying the Holocaust. 

Trump has yet to address the latest allegations against Robinson. One Trump adviser, who asked not to be named, said Trump should stay silent and not fan the controversy.

“Ignore it, and let it die,” the adviser said.

Trump’s campaign did not respond to a request for comment.

Harris’ campaign and its allies have made a significant investment in North Carolina, including two stops by the vice president last week. A Democratic presidential candidate has not won the state since 2008, but voters elected Democrat Roy Cooper as governor in 2016 and 2020. 

Robinson had been trailing his opponent, Democrat Josh Stein, even before the CNN report, suggesting that he could be a drag on Trump’s chances in the state if some disaffected Republicans stay home on Election Day or defect to Harris. 

Chris Cooper, a professor of political science at Western Carolina University, said in a state that Trump won by just 1.3 percentage points in 2020, the Robinson scandal could damage Republicans’ chances up and down the ballot in November, including Trump’s. 

“If some people feel that the Republican brand is stained enough that they’d rather stay home, then that’s going to matter,” Cooper said. “It doesn’t take a big difference to flip the state.”

© Reuters. A Secret Service officer stands next to bulletproof glass on a stand from which Republican presidential nominee and former U.S. President Donald Trump will hold his campaign rally in Wilmington, North Carolina, U.S., September 21, 2024.  REUTERS/Carlos Barria

Thom Tillis, a Republican U.S. senator from North Carolina, responded to the allegations against Robinson by telling voters on X that “we must focus on the races we can win,” citing the presidential contest but omitting the gubernatorial vote.

“If Harris takes NC, she takes the White House,” Tillis wrote. “We can’t let that happen.” 

Continue Reading

Stock Markets

GM to begin laying off about 1,700 workers at Kansas plant, WARN notice shows

letizo News

Published

on

(Reuters) – General Motors (NYSE:) will begin laying off 1,695 workers at its Fairfax Assembly plant in Kansas, the company said in a Worker Adjustment and Retraining Notification (WARN) notice earlier this week.

The first of two rounds of layoffs will begin Nov. 18 and will include the temporary layoff of 686 full-time workers and the termination of 250 temporary employees, Automotive News reported on Saturday citing a company filing to the state of Kansas.

Starting Jan. 12, 759 full-time workers will be temporarily laid off, the report added.

GM did not immediately respond to a Reuters request for comment on the details of the latest layoffs.

© Reuters. FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. .  REUTERS/Rebecca Cook/File Photo

Earlier in May, GM had said that it would pause production of the Cadillac XT4 after January 2025 in Kansas, resulting in layoffs of production employees until production resumes in late 2025 for both the Bolt EV and XT4 on the same assembly line.

The company had also said in August that it was laying off more than 1,000 salaried employees at its software and service units worldwide.

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved