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Gates Industrial Corp. Posts Revenue Of $576.5 Million In Q2 2020
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Gates Industrial Corp PLC (NYSE:GTES) Insider transaction over a period of six months increased by 385.70%, this indicates a bullish trend. The company has reported Q2 2020 results in which net loss was $22.4 million or $0.08 per share after delivering a profit of $21.5 million or $0.07 per share in the same quarter a year ago. Adjusted net income came in at $9.4 million or $0.03 per share. Revenue in the quarter was 576.5 million compared to Q2 2019 when the company had sales of $809.9 million.
Adjusted EBITDA contracted by 600 basis points to $83.2 million from $165.4 million in Q2 2019. Total cash at the end of the quarter was $639.7 million.
Parsons Corp Completes All Requirements for Salt Waste Facility
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Parsons Corp. (NASDAQ:PSN) is also indicating a bullish trend and insider transaction over a period of six months has increased by 373.96%. The company has announced that it has completed the necessary requirements to commence radioactive waste treatment at the Department of Energy's Salt Waste Processing Facility in Aiken. The facility built will be the first of the kind and will be processing saltwater at a faster rate of 8X compared to the current processing rate.
The company reported strong Q2 2020 results in which revenue was $979 million with net income dropping 42% to around $23 million. Cash flow from operations was $88 million with adjusted EBITDA increasing 20$ to around $91 million.
Fate Therapeutics Appoint Edward Dulac As CFO
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Also, another bullish looking stock is Fate Therapeutics Inc (NASDAQ:FATE) which has seen insider transactions over a period of six months increased by 360.70%. The company has appointed Edward Dulac as the CFO of the company and he will join the company from Celgene Corporation where he was VP Business Development & Strategy. He will bring huge biopharmaceutical experience to the company has been in various roles for over 20 years in business development, finance, and product portfolio strategy.
In the second quarter, the company reported revenue of $5.5 million which was mainly from collaborations with Ono Pharmaceuticals and Janssen. At the end of the quarter cash and investments were $533.4 million.
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COMTEX_370546363/2700/2020-09-02T06:22:58
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