EARNINGS Stocks Update: Joy Global Inc. (NYSE:JOY), Summit Therapeutics plc (NASDAQ:SMMT), WPCS International Incorporated (NASDAQ:WPCS)

Share of Joy Global Inc. (NYSE:JOY) jumped 0.08% and is at $12.16 in the Real-Time trading session. The company opened at $11.91 on Thursday, and is moving between $11.91 – $12.56, through the day.

Joy Global, declares that its board of directors has declared a quarterly dividend in the amount of $0.01 per share to be paid on January 15, 2016 to shareholders of record on December 30, 2015. The reduction in the dividend is being driven by the noteworthy down turn in commodity prices and the resulting impact on the company’s bookings, revenues and cash flows.

Joy Global Inc. is a worldwide leader in mining equipment and services for surface and underground mining.

Summit Therapeutics plc (NASDAQ:SMMT) inclined 2.05% right now and is at $10.97. The 52-week range of the share price is from $8.84 – $14.78. The company has total market capitalization of $134.47 billion.

Summit Therapeutics plc, the drug discovery and development company advancing therapies for Duchenne muscular dystrophy (‘DMD’) and C. difficile infection (‘CDI’), reports its financial results for the third quarter ended 31 October 2015.

Mr Glyn Edwards, Chief Executive Officer of Summit commented: “We have recently declared positive clinical trial results for both our lead programmes in DMD and CDI, enabling us to advance these promising candidates to the next stage of clinical development. In DMD, our lead utrophin modulator, SMT C1100, is poised to enter a Phase 2 proof of concept trial after demonstrating the ability to achieve exposure levels in patients that we believe may be able to sustain utrophin production and result in clinical benefit. Utrophin modulation has noteworthy promise as a disease-modifying therapy for all patients living with DMD.

We also recently stated that in our Phase 2 trial in CDI that ridinilazole (SMT19969) achieved statistical superiority over vancomycin in sustained clinical response in CDI, a noteworthyglobal healthcare threat. Ridinilazole has shown great potential to address recurrent disease, the key clinical issue in the treatment of CDI, and we look forward to evaluating our options for advancing this novel class antibiotic into Phase 3 trials as quickly as possible.�?

Shares of WPCS International Incorporated (NASDAQ:WPCS), lost -3.62%, and is now trading at $1.33. Its overall volume is 27,594.00 million shares right now, and average trading volume of 182,872.00 million.

WPCS International Incorporated, which specializes in contracting services for communications infrastructure, recently declared its fiscal 2016 second quarter and six-month financial results for the period ended October 31, 2015.

Sebastian Giordano, Interim CEO of WPCS, commented, While our Suisun Operations generated operating income of $55,000 and $600,000 for the three months and six months ended October 31, 2015, respectively, the other noteworthy impact items stated this quarter were an $838,000 gain on sale of the China Operations and noncash charges of $783,000 for dividends on preferred stock and $1,518,000 in stock option expense related to issuance of stock options to employees and the Board of Directors.

Financial Results for the Three Months Ended October 31, 2015

Revenue for the three months ended October 31, 2015 reduced $2,266,000, or 37%, to $3,824,000 as contrast to $6,090,000 for the same period in 2014, as one, multi-year, high revenue project was accomplished in the prior fiscal year.

The Companys $2,041,000 loss from ongoing operations for the three months ended October 31, 2015 was comprised of the $55,000 operating income from the Suisun Operations, offset by $2,095,000 of corporate overhead, of which $1,518,000 was attributable to stock compensation expense for stock options issued to employees and the Board of Directors. This contrast to a net operating loss from ongoing operations of $1,882,000 for the same period in 2014.

WPCS has recorded the financial results for its divested auxiliaries as suspended operations. For the three months ended October 31, 2015, WPCS recorded income from suspended operations of about $838,000 due to the gain on the sale of the China Operations. Net loss attributable to common shareholders for the three-month period totaled $1,986,000 due primarily to the $2,041,00 loss from ongoing operations, $783,000 in dividends declared on preferred stock, and which partially was offset by the $838,000 gain on the sale of the China Operations.

DISCLAIMER:

This article is published by www.stocksnewswire.com. The content included in this article is just for informational purposes only. Stocksnewswire.com takes sensible consideration to ensure that the data given in this article is up to date and accurate. The news, prices, opinions, research, analysis, and other information published in this article are obtained from sources believed to be reliable.

Neither Stocksnewswire.com nor any of Stocksnewswire.com partners make any representation or guarantee as to the fulfillment or precision of the information contained in this article.

Investors must consult their own additional due diligence with any potential investment or highlighted company before making any decision on behalf of information offered by Stocksnewswire.com.

Information contained in this article may contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long-term; pricing pressures; etc.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur. 

About Travis Garlick 1801 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.