Stocks In The News: IOVA, ULTA, NIO
2:56 pm Friday, May 27th, 2022
Iovance Therapeutics (NASDAQ:IOVA) stock is falling hard on Friday following the release of clinical trial data for its melanoma treatment. According to the company, the results were positive with it seeing an objective response rate (ORR) of 29%. However, it looks like investors aren’t as impressed with that result as shares of IOVA are taking a beating today. Iovance Therapeutics notes that it plans to reveal more details about the study in the second half of the year. It’s also expecting to submit a BLA for the treatment in August 2022.
Ulta Beauty (NASDAQ:ULTA) stock is gaining on Friday after the cosmetics retailer released a strong earnings report for the first quarter of 2022. The most recent Ulta Beauty report includes diluted earnings per share of $6.30. That’s a massive beat compared to the $4.49 per share that Wall Street was expecting for the quarter. It’s also a major increase year-over-year compared to $4.10. In addition to that, the retailer also reported a revenue of $2.35 billion. That’s another solid beat compared to the $2.12 billion that analysts were looking for this period. Plus, it’s a 21% increase from the $1.94 billion reported in the first quarter of 2021.
Shares of Nio (NYSE:NIO) are in the green this morning after Chinese media firm Yicai reported that the company is recruiting people within the U.S. for manufacturing-related positions. The job postings state that candidates must have 10 years of experience or more with blueprint planning. Candidates must also have 10 years of experience in the design of original equipment manufacturers (OEMs). As a result of the job postings, speculation is circulating that Nio plans on building a manufacturing facility in the U.S. The electric vehicle (EV) company already has a research and development (R&D) center in San Jose, California. When asked by Yicai, Nio responded that it had no comment on the matter.
