OBLG

Financial Performance Overview: Oblong, Inc. reported a net loss of $0.9 million for Q4 2024, with total revenue of $0.6 million, down from $0.9 million in Q4 2023. The company maintains a strong financial position with $5.0 million in cash and no debt.

Strategic Growth Plans: The CEO announced plans to explore growth opportunities through mergers, acquisitions, and asset sales to enhance liquidity and focus operations, while the company has regained compliance with Nasdaq listing standards.

Financial Position: Oblong, Inc. reported a strong financial position with $5.6 million in cash and no debt as of September 30, 2024, while also regaining compliance with Nasdaq's listing standards and planning for potential growth through mergers and acquisitions.

Quarterly Performance: The company experienced a decline in total revenue to $0.6 million for Q3 2024 compared to $0.9 million in Q3 2023, resulting in a net loss of $1.0 million, which is slightly higher than the previous year's loss of $0.9 million.

U.S. Stock Market Performance: U.S. stocks saw gains with the Nasdaq Composite up approximately 100 points, while retail sales rose by 0.1% in August, exceeding market expectations.

Sector Movements and Global Markets: Consumer discretionary shares increased by 1.2%, whereas healthcare shares fell by 0.5%. European markets also showed positive trends, while Asian markets had mixed results, with India's trade deficit reaching a ten-month high.

Market Performance: Communications services shares experienced a slight increase of about 0.6% on Friday, but were negatively impacted by significant declines in Oblong (down 21.8%) and Viasat (down 12.8%).

Sector Laggards: The defense and communications services sectors are identified as laggards in the market performance for the day.

Oblong Inc Compliance Update: Oblong Inc's shares surged after the company announced it regained compliance with Nasdaq's minimum bid price requirement, having maintained a stock price above $1.00 for 10 consecutive days.

Future Growth Plans: CEO Peter Holst expressed satisfaction with the compliance outcome and highlighted the company's focus on exploring inorganic growth opportunities, including mergers and acquisitions, to enhance long-term growth and value creation.

Upcoming Stock Splits: Several companies, including BiomX Ltd., ESS Tech, and BYND Cannasoft Enterprises, are set to execute reverse stock splits from August 26 to August 30 to comply with exchange listing requirements and improve share liquidity.

Types of Stock Splits: The article explains the difference between regular stock splits, which increase the number of shares while maintaining market capitalization, and reverse stock splits, which reduce the number of shares but also maintain market cap.

U.S. Stock Market Performance: U.S. stocks declined, with the Nasdaq Composite falling over 1% and notable drops in major indices; Williams-Sonoma shares fell 8% despite beating earnings expectations, while Peloton's shares surged 37% after positive financial results.

Global Economic Indicators: European markets mostly rose, with improvements in PMI readings for the eurozone and France, while Asian markets also closed higher; however, U.S. economic indicators showed mixed results, including a rise in jobless claims and a decline in manufacturing PMI.

U.S. Stock Market Performance: U.S. stocks declined with the Nasdaq Composite down 150 points, while initial jobless claims rose to 232,000, slightly above expectations. Energy shares saw a minor increase, but consumer discretionary stocks fell by 0.8%.

International Market Trends: European shares increased, with notable gains in the eurozone's composite PMI, while Asian markets closed higher overall, despite mixed performances in Japan and China.

U.S. Stock Market Performance: U.S. stocks rose this morning, with the Dow Jones gaining over 100 points, while sectors like information technology saw a 0.7% increase. BJ's Wholesale Club reported strong financial results, exceeding analyst expectations.

Global Market Trends: European shares were up, with notable gains in the eurozone's composite PMI, while Asian markets also closed higher, particularly Japan and Hong Kong. However, U.S. initial jobless claims increased slightly, indicating mixed economic signals.

Reverse Stock Split Announcement: Oblong, Inc. will execute a 1-for-40 reverse stock split effective August 23, 2024, to increase its share price for compliance with Nasdaq listing standards, reducing outstanding shares from approximately 28 million to about 710,000.

Impact on Shareholders: The reverse split will not affect shareholders' ownership percentages, and any fractional shares will be rounded up to the nearest whole share; no action is required from stockholders holding shares in book-entry form.

Keysight Technologies Performance: Keysight Technologies, Inc. shares surged 11.1% in pre-market trading after reporting better-than-expected third-quarter results and projecting fourth-quarter earnings and revenue above estimates.

Stock Movements: Several stocks experienced significant pre-market trading movements, with Revelation Biosciences rising 170.1% and Eyenovia, Inc. falling 34.1% following a proposed public offering.

Oblong's Q2 2024 Results: Oblong (NASDAQ:OBLG) reported a second-quarter earnings per share of -4 cents and revenue of $611,000.

Automated Earnings Coverage: InvestorPlace Earnings utilizes TradeSmith data to automate the reporting of quarterly earnings, providing quick insights on key financial metrics without human intervention.

Core & Main Inc CNM:

• Reported mixed first-quarter financial results, with earnings below market expectations but sales slightly above estimates.
• Shares fell sharply by 11.4% to $49.77 following the announcement.

Other Stocks Moving:

• MicroAlgo Inc MLGO shares surged 284% after announcing a quantum research center partnership.
• Sobr Safe Inc SOBR rose 112% due to new device purchases.
• Annexon, Inc. ANNX climbed 40% following positive Phase 3 trial results.
• Several other companies saw stock price increases ranging from 5.6% to 40%.

Stocks Declining:

• Various companies experienced declines ranging from 5.5% to 66.4%.
• Reasons for drops included missed earnings, downbeat financial results, and general market movements.

Specific Companies Affected:

• Notable decliners include GameStop Corp GME, HDFC Bank Ltd HDB, and CalAmp Corp CAMP.
• Rising stocks included CareCloud Inc CCLD, SkyWest Inc SKYW, and others.

Market Trends:

• Indian stocks like ICICI Bank Ltd IBN and HDFC Bank Ltd HDB fell amid early election results.
• Some companies announced significant deals or partnerships leading to stock surges.

Top Gainers:

• Sharps Technology (STSS) stock surges over 241% on a new purchase agreement.
• Insmed (INSM) shares soar more than 140% due to positive clinical trial results.
• Calliditas Therapeutics (CALT) stock jumps over 70% after responding to a public offer.
• Yoshitsu (TKLF) shares increase by 41% with heavy pre-market trading.
• Oblong (OBLG) stock gains over 31% with strong early morning trading.

Top Losers:

• Marpai (MRAI) stock plunges over 39% ahead of delisting.
• Innovative Eyewear (LUCY) shares dive more than 34% without clear news.
• Paranovus Enter (PAVS) stock drops over 18% despite no news.
• Digital Brands Group (DBGI) shares tumble more than 14% without recent news.
• P3 Health Partners (PIII) stock decreases over 14% after issuing shares and warrants.