Global Airlines Expresses Faded Hopes on COVID-19 Recovery, Cuts the Coronvirus Recovery Forecast

Global airlines revised the coronvirus recovery forecast saying that the return of passenger traffic to pre-crisis levels would happen until 2024, a year longer than what it had expected before. International Air Transport Association (IATA) provided the update on negative impact of pandemic on air travel pointing a  slow control of COVID-19 in US and developing countries, and a fainted outlook for corporate travel.

According to IATA, near-term prospects are still blur as travel barriers yet exist to a signifianct extent and some markets are facing new restrictions, which pushed the organization to cut its forecast on 2020 passenger numbers to the 55% decline, which is 9% points more than the 46% predicted in April. The passenger numbers for June showed 86.5% decline compared to same period of 2019 and slightly better than the 91% decline in May.

IATA Chief Economist Brian Pearce commented, “The second half of this year will see a slower recovery than we’d hoped.” Mr. Brian also shed ligth on the uncertainty created after the surprise move by UK for the arrivals from Spain saying, “That is clearly going to be an issue with the recovery.”

United States and developing countries contribute 40% to global air travel, the countries facing increased number of coronavirus cases which also lowered the recovery prospects. Business travel can show a slump in future as well compared to pre-pandemic levels as coporates are increasing the use of video-conferences that became norm amid lockdowns.

Tesla notes it took government assistance to reduce impact of coronavirus shutdowns

Tesla Inc received payroll related benefits from the government in the first half of the year to help bring down the impact of the COVID-19 lockdown on its business, the electric carmaker revealed in its regulatory filing.

The electric car maker noted in its regulatory filing, “As part of various governmental responses to the pandemic granted to companies globally, we received certain payroll related benefits which helped to reduce the impact of the COVID-19 pandemic on our financial results.”

Tesla’s U.S. manufacuring factory in California was remained closed for about six weeks of the second quarter. Tesla had a initial standoff with local authorities on shutting down of its the only U.S. car manufacturing factory.

However, Tesla didn’t disclose about the type of assitance that it received and from which country. While U.S. Small Business Administration issued forgivable pandemic related loans to millions of companies but Tesla and its subsidiary company SolarCity were not seen in the list.

Tesla’s Billionaire Chief Executive Officer Elon Musk has already commented against further provision of Government Aid along with cutting the costs by companies saying that the benefits of the govt assitances had “offset almost all of its costs” that were confronted on shutdown of factories amid the pandemic.

The billionaire CEO also tweeted few days back on another U.S. government stimulus package that it “is not in the interests of the people.” While the second massive pandemic relief package is being debeted by U.S. Republicans and Democrats. The aid packages are purposed to bolster the US economy and help many Americans who have suffered the consequcnes in the shape of job loss or cut of incentives amid the pandemic.

Notable News Spotlight: eHealth (NASDAQ:EHTH)

eHealth (NASDAQ:EHTH) changed -0.75% to recent value of $114. The stock transacted 948661 shares during most recent day however it has an average volume of 669.88K shares. It spotted trading -25.09% off 52-week high price. On the other end, the stock has been noted 116.28% away from the low price over the last 52-weeks.

On July 23, 2020, eHealth (NASDAQ:EHTH) a leading private online health insurance marketplace, revealed its financial results for the second quarter ended June 30, 2020.

Scott Flanders, chief executive officer of eHealth stated, eHealth delivered another quarter of strong revenue and Medicare enrollment growth. The number of second quarter Medicare approved members grew ahead of our expectations driven by favorable market dynamics, growth in online enrollments and an increase in agent productivity compared to a year ago.  Importantly, this enrollment growth was achieved while also reducing our total acquisition costs per approved Medicare member allowing us to once again exceed our internal forecast for revenue and earnings. Based on the strength of our business and reflecting the capital raise we completed in March, we are increasing our financial guidance for the full year ending 2020.

GAAP — Second Quarter of 2020 Results

Revenue — Revenue for the second quarter of 2020 totaled $88.8 million, a 35% increase compared to $65.8 million for the second quarter of 2019. Commission revenue for the second quarter of 2020 totaled $80.8 million, a 33% increase compared to $60.6 million for the second quarter of 2019. Other revenue for the second quarter of 2020 was $8.0 million, a 55% increase compared to $5.2 million for the second quarter of 2019.

Revenue from our Medicare segment was $80.4 million for the second quarter of 2020, a 54% increase compared to $52.3 million for the second quarter of 2019. Revenue from our Individual, Family and Small Business segment was $8.4 million for the second quarter of 2020, a 38% decrease compared to $13.5 million for the second quarter of 2019.

EHTH has a gross margin of 99.30% and an operating margin of 16.80% while its profit margin remained 13.90% for the last 12 months. Its earnings per share (EPS) expected to touch remained -7.90% for this year while earning per share for the next 5-years is expected to reach at 13.28%.

The company has 24.72M of outstanding shares and 24.54M shares were floated in the market. According to the most recent quarter its current ratio was 8.3 that represents company’s ability to meet its current financial obligations. The price moved ahead of 7.95% from the mean of 20 days, 0.63% from mean of 50 days SMA and performed 9.76% from mean of 200 days price. Company’s performance for the week was 8.25%, 3.04% for month and YTD performance remained 18.65%.

Keep Your Eyes on Stock News: First Financial Bancorp. (NASDAQ:FFBC)

First Financial Bancorp. (NASDAQ:FFBC) stock identified change of 31.21% away from 52-week low price and recently located move of -45.74% off 52-week high price. It has market worth of $1.44B and dividend yield of 6.47%. FFBC stock has been recorded 6.21% away from 50 day moving average and -26.38% away from 200 day moving average. Moving closer, we can see that shares have been trading 7.28% off 20-day moving average.

  • Earnings per diluted share of $0.38; $0.40 on an adjusted (1) basis
  • Return on average assets of 0.96%; 1.00% as adjusted (1)
  • 5% efficiency ratio; 56.1% as adjusted (1)
  • Record core fee income driven by $16.7 million of mortgage banking income
  • $20.2 million total provision for credit losses

On July 23, 2020, First Financial Bancorp. (NASDAQ:FFBC) reported financial results for the three and six months ended June 30, 2020.

For the three months ended June 30, 2020, the Company reported net income of $37.4 million, or $0.38 per diluted common share.  These results compare to net income of $28.6 million, or $0.29 per diluted common share, for the first quarter of 2020 and $52.7 million, or $0.53 per diluted common share, for the second quarter of 2019.  For the six months ended June 30, 2020, First Financial had earnings per diluted common share of $0.67 compared to $1.00 for the same period in 2019.

Return on average assets for the second quarter of 2020 was 0.96% while return on average tangible common equity was 12.90%.  These compare to returns on average assets of 0.79% and 1.50%, and returns on average tangible common equity of 9.71% and 17.33%, in the first quarter of 2020 and the second quarter of 2019, respectively.

The Financial sector company, First Financial Bancorp. noticed change of 2.60% to $14.21 along volume of 336162 shares in recent session compared to an average volume of 614.56K shares. The stock observed return of 1.94% in 5 days trading activity. The stock was at 5.85% over one month performance. FFBC’s shares are at 5.89% for the quarter and driving a -43.52% return over the course of the past year and is now at -44.14% since this point in 2018.

The average volatility for the week at 4.47% and for month was at 5.14%. There are 97.74M shares outstanding and 95.84M shares are floated in market. Right now the stock beta is 1.21.

RoodMicrotec N.V. Issues an unaudited interim report and half year results for 2020

RoodMicrotec N.V. has issued an interim report and the half year results for the financial period ending 30th June 2020. The semiconductors supply services company reported the total income of EUR 5.4 million for the first half of 2020, a 16% decrease compared to the first half year of 2019.

The company says total income during the first half year was impacted by the COVID-19 pandemic. The income is also 20% less than what the company provided in the outlook for the first half of 2020 presented in its fourth quarter of 2019. The second quarter of 2020 was most impacted by the pandemic which created the uncertainty in the market, resulting to a depressive short-term demand from the customers. There was postponement of deliveries but no cancellation was seen. While the new orders diminished or the customers also postponed the orders because of uncertain situation created by the COVID-19.

The company saw a significant decline in the net results during the first half of the year. It reported net results of EUR -0.7 million with a EUR 0.4 million decrease as compared to first half of 2019. However, the decline in the cost of raw materials amid Pandemic along with cost control measures helped the company to reduce the overall costs during the first half of 2020.

However, RoodMicrotec reported a positive cash flow of EUR 0.8 million from operating activities during the first six months of 2020 while the net cash flow of EUR -0.2 million on early 2020investments it achieved in a new test machine.

RoodMicrotec CEO Martin Sallenhag said, “It has been a tough first half year of 2020 but thanks to the dedication of our employees and the good relationships with our customers and suppliers we have been able to limit the effects of COVID-19. We are well prepared for the expected up-swing even though it is impossible to know exactly when this will happen. The current cash situation and the possibility to run short-time work enables us to continue to serve our customers at an outstanding level.”

Tanzanian Gold Involves in Financing Activities for the Expansion of Buckreef Plant

Tanzanian Gold Corp. is looking to expand its Buckreef Plant oxide mining and processing operation as it has announced the signing of a flexible financing agreement with institutional investors Riverfort Global Opportunities PLC. and YA II PN, Ltd for attaining unsecured convertible debentures of up to US$14 million. While it has also strengthened its balance sheet by converting outstanding gold loans and convertible loans of US$8.4 million into common shares.

The company will utilize the net proceeds from the Financing for a significant expansion of the Buckreef Project. While it will use the proceeds also for the advancement of a Feasibility Study for the larger sulphide mining complex, the continuation of multiple drilling programs, and general corporate purposes.

The new financing activities will help the mining company to empower shareholder value as the Company moves in to new phases of building a substantial mine at the Buckreef Project. It will support the expansion of production and helping it becoming a cash flow positive.

Subject to regulatory approval, Tanzanian Gold has plans to expand the oxide processing plant to the range of 40 tonnes per hour. Tanzanian Gold will provide details of the plant expansion in near future. The Financing will be held in multiple tranches while the company has made the information about the terms and conditions in its EDGAR filings.

Tanzanian Gold Executive Chairman Mr. James E. Sinclair said, “The past 18 months of work from a talented team at Buckreef and our entire organization represent an incredible period of progress and value creation for our Company. We have dramatically grown our resource base at very low cost, increased the scale and scope of what we now feel will be the next major mine in Tanzania, and have begun to unlock the tremendous blue-sky potential that exists with our continuing exploration and development programs. Critically, we have now become a gold producer.”

Dominic Thiem Defends Novak Djokovic After Controversial Adria Tour

World Number 3, Dominic Thiem has spoken in favor of Novak Djokovic and said that all the criticism of Djokovic for the controversial Adria Tour was unfair.

A number of stars, including World Number 1, Novack Djokovic tested positive for Coronavirus competing in the controversial tournament.

Dominic Thiem said, “It was unfair to him because he didn’t break any law and he didn’t force us.”

“He didn’t force any player to come there. He didn’t force any player to interact with the fans.It was our own decision. The whole event was for a very good cause as well,” he added.

“It was obviously a mistake from everybody but it’s a long time ago now really and everybody who got positive there is healthy again, which is a very good sign as well,” he said.

“In reality, we saw happy fans, we saw happy kids and then we kind of forgot to keep the distance, to not take pictures, to not hug the kids and it was a mistake. Everybody regrets it, of course, but I think, at the same time, it’s fine now,” he continued.

“If it’s going to happen, I’m very sure that it’s safe and that I’m also going to play because I guess it’s time that the normal tour is coming back,” Austrian added.

“What I said is that there are guys on the Future Tour who are not living professionally,” he said.

“That’s what I said. And there are guys who don’t deserve the support and I’m never going to change my opinion.”

“There are many, many guys who deserve it and that’s my opinion. But, well, the media back then put it wrong and I hope that I can put it a little bit in the right place now.”

Stern Warning Issued To Fans During The Presentation Of Historic Trophy

The Manager Jurgen Klopp is the happiest man in the world after his team managed to bring the historic trophy to their native land. All the fans of Liverpool wanted to come out on the streets and roads, but they’ve been warned that they should stay at homes during the Trophy’s presentation on Wednesday.

But, fans had ignored the warnings and they gathered outside the stadium at Anfield in which Liverpool defeated the other side to be crowned for English Champion.

Assistant chief constable Natalie Perischine from Merseyside Police, “On this occasion, the best seat in the house is in your living room.”

“There is simply no benefit to going to the ground and we as a city cannot afford for people to gather in large numbers. We are all still in unprecedented times due to the Covid-19 pandemic and the last thing anyone wants is a resurgence of cases in Merseyside, with every life lost a tragedy.” He added.

Jordan Henderson said, “It’s gutting for all of us that our fans are not with us in person, but we can still make this one of the most enjoyable shared experiences we’ve ever had if we want it to be.”

“If anyone reads this column or these words prior to the evening of the match, I cannot say clearly enough it is critically important you stay away from Anfield and enjoy celebrating with us in your own way, at home.”

Jurgen Klopp said, “Again, I promise we will have this party, which everybody deserves, at an appropriate time — pretty much the first possibility we will use to do exactly what everybody deserves,” added Klopp.

“But we can do it only if everybody behaves appropriately. That’s how it is,” Klopp concluded.

Earnings News Alert: Lazydays Holdings (NASDAQ:LAZY)

Lazydays Holdings (NASDAQ:LAZY) stock identified change of 583.87% away from 52-week low price and recently located move of 5.26% off 52-week high price. It has market worth of $76.21M. LAZY stock has been recorded 65.89% away from 50 day moving average and 135.58% away from 200 day moving average. Moving closer, we can see that shares have been trading 29.94% off 20-day moving average.

On July 13, 2020, Lazydays Holdings (NASDAQCM:LAZY) provided preliminary results for the quarter ending June 30, 2020. Given the unique business environment created by the COVID-19 pandemic the Company believes it is helpful to provide preliminary results, including a month-by-month breakout of preliminary key financial measures for the quarter. It is important to note that these results are preliminary, have not been subjected to a quarterly review and should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarter ending June 30, 2020, which the Company expects to file in early August 2020. Preliminary Revenue for the quarter is $214 million and net income $7 million. Preliminary key metrics by month are provided below, as well as a reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to net income.

April 2020 Preliminary Results

  • RV unit sales decreased 11% to 636 units versus 711 units in April 2019
  • Total Revenue decreased 30% to $41 million compared to $59 million in April 2019
  • Adjusted EBITDA, decreased 88% to $0.5 million versus $3.9 million in April 2019
  • In April, most states were still under shelter in place orders, which the Company believes significantly impacted customer demand.

May 2020 Preliminary Results

  • RV unit sales increased 55% to 1,175 units versus 759 units in May 2019
  • Total Revenue increased 38% to $83 million compared to $60 million in May 2019
  • Adjusted EBITDA increased 98% to $7.0 million versus $3.6 million in May 2019

June 2020 Preliminary Results

  • RV unit sales increased 81% to 1,124 units versus 622 units in June 2019
  • Total Revenue increased 82% to $90 million compared to $50 million in June 2019
  • Adjusted EBITDA increased 212% to $7.6 million versus $2.4 million in June 2019

The Consumer Cyclical sector company, Lazydays Holdings noticed change of 6.43% to $10.6 along volume of 400615 shares in recent session compared to an average volume of 55.88K shares. The stock observed return of 21.98% in 5 days trading activity. The stock was at 41.33% over one month performance. LAZY’s shares are at 345.38% for the quarter and driving a 105.60% return over the course of the past year and is now at 158.54% since this point in 2018.

The average volatility for the week at 11.57% and for month was at 8.63%. There are 9.76M shares outstanding and 8.25M shares are floated in market.

Total Energy Services Inc. Announces the Schedule for financial results of Second Quarter and Conference Call

Total Energy Services Inc. has announced to release the financial results for the quarter ended June 30, 2020 on August 12th, 2020. The company also intends to host a conference call and webcast following the announcement of financial results. Company issue the financial results before the conference call.

Total Energy Services Conference Call will be hosted by the Total Energy’s management including Daniel Halyk, Company’s President and CEO on August 12th, 2020 at 9:00 a.m. (Mountain Time). Shareholders and other interested people will be able to access the call via (800) 319-4610 or (416) 915-3239. Company broadcast conference call in a live webcast which will be accessible on company’s website at www.totalenergy.ca by going through the option “Webcasts”.

The company will also make the archived version available on Total Energy’s website shortly after the live webcast. Interested persons would also be able to access the recording of the conference call until September 12, 2020 via the number (855) 669-9658, and passcode 4849.

Total Energy provides services of drilling contracts, rentals and transportation, well servicing and compression and process equipment and service to oil and natural gas producers operating in North America, Australia and other international markets. It is headquartered in Calgary, Alberta.