Ford Motor Co Q1 Earnings Summary

Avadel Pharma Gains 8% As FDA Clears Lumryz To Treat EDS

Shares of Avadel Pharmaceuticals plc (AVDL) are gaining over 8% on Tuesday morning after the company received FDA’s clearance for Lumryz to treat excessive daytime sleepiness.

AVDL is currently trading at $12.69, up $0.96 or 8.18%, on the Nasdaq. The stock opened its trading at $11.75 after closing Monday’s trading at $11.73. The stock has traded between $1.05 and $13.09 in the past 52-week period.

Avadel Pharmaceuticals announced that the U.S. Food & Drug Administration has granted final approval to Lumryz, an extended-release formulation of sodium oxybate indicated to be taken once at bedtime for the treatment of cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy.

With final approval, Lumryz becomes the first and only FDA approved once-at-bedtime oxybate for people living with narcolepsy. Lumryz was additionally granted Orphan Drug Exclusivity by the FDA.

“Today’s landmark approval and receipt of Orphan Drug Exclusivity represents a major milestone for both Avadel and people living with narcolepsy. As we have heard from key stakeholders, previously approved narcolepsy therapies have the potential to disrupt sleep by either causing insomnia or through forced awakening during the middle of the night for their crucial second dose. LUMRYZ can now offer people with narcolepsy the opportunity for an uninterrupted night sleep while receiving the full benefit of their prescribed treatment in one single bedtime dose that addresses their symptoms of narcolepsy,” said Greg Divis, Chief Executive Officer of Avadel.

STAG Industrial Climbs 4% On Addition To S&P Midcap 400 By May 4

STAG Industrial, Inc. (STAG) shares are gaining more than 4 percent on Tuesday morning trade after the company is set to replace Axon Enterprise in the S&P Midcap 400, prior to the opening of trading on May 4.

Currently, shares of the real estate investment trust are at $35.29, up 4.84 percent from the previous close of $33.65 on a volume of 3,064,407.

Markets Sink on Fears About Banks and Weaker Economic Outlook

The relative calm that met the collapse of First Republic Bank on Monday was shattered on Tuesday, with broad-based declines across industries.

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S&P 500

SI-BONE Stock Up 8% On Quarterly Results

Shares of SI-BONE, Inc. (SIBN) are gaining 8% on Tuesday morning after the company reported first-quarter results.

SIBN is currently trading at $24.40, up $1.80 or 7.94%, on the Nasdaq. The stock opened its trading at $25.00 after closing Monday’s trading at $22.60. The stock has traded between $11.14 and $27.24 in the past 52-week period.

Worldwide revenue was $32.7 million in the first quarter, a 46% increase from $22.4 million last year. U.S. revenue surged 50%, while international revenues were up 9%.

Net loss for the quarter were $11.1 million or $0.32 per share for the first quarter, as compared to a net loss of $17.4 million or $0.52 per share last year. Analysts polled by Thomson Reuters expected a loss of $0.41 per share.

Looking forward, SI-BONE updated its 2023 worldwide revenue guidance to be in the range of $128 million to $131 million, implying growth of around 20% to 23%.

Rockies fan survey: What are your thoughts on attending games at Coors Field?

The Rockies are off to one of the worst starts in franchise history and attendance at Coors Field is slipping. Through April, average attendance was 28,034 after 13 home games, ranking 16th in Major League Baseball. After 13 home games last season, the Rockies were averaging 33,227 fans per game.

With a fifth consecutive losing season looking likely, The Denver Post is seeking input from fans for their views about attending Rockies games at Coors Field:

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Tiny Love Stories: ‘Crying in the Driveway’

Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.

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European Economic News Preview: German GfK Consumer Confidence Due

Consumer confidence from Germany and France are the top economic news due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the market research group GfK is scheduled to issue Germany’s consumer confidence survey results for May. The confidence index is forecast to improve to -27.9 from -29.5 in April.

In the meantime, foreign trade and unemployment figures are due from Sweden.

At 2.45 am ET, consumer sentiment data is due from France. The confidence index is seen unchanged at 81 in April.

At 3.30 am ET, Sweden’s central bank announces its monetary policy decision. The bank is expected to raise its benchmark rate by 50 basis points to 3.50 percent.

At 4.30 am ET, the Office for National Statistics publishes UK labor productivity for the fourth quarter.

At 6.00 am ET, the Confederation of British Industry is slated to issue monthly Distributive Trades survey results for April. The retail sales balance is forecast to rise to 9.0 percent from 1.0 percent in March.

Ford Motor Co Q1 Earnings Summary

Below are the earnings highlights for Ford Motor Co (F):

Earnings: $1.8 billion in Q1 vs. -$3.1 billion in the same period last year.
EPS: $0.44 in Q1 vs. -$0.78 in the same period last year.
Excluding items, Ford Motor Co reported adjusted earnings of $2.5 billion or $0.63 per share for the period.

Analysts projected $0.41 per share
Revenue: $41.5 billion in Q1 vs. $34.5 billion in the same period last year.