Big 5 Sporting Goods Reported Positive Earnings and ChemoCentryx Faced Heavy Criticism from the FDA 🧫

Table of Contents

Big 5 Sporting Goods Reported Positive Earnings and ChemoCentryx Faced Heavy Criticism from the FDA

Big 5 Sporting Goods  

Big 5 Sporting Goods is a sporting retailer that is based in California. Most of their stores are in the western part of the United States, and they also hold an ecommerce platform to sell goods. Big 5 fell massively during the COVID-19 market crash, but has recovered very nicely, up almost 1600% from its lows.

Big 5 reported earnings on Tuesday after hours, and the results were spectacular. They reported 96 cents per share, absolutely crushing estimates, and same store sales beat the guidance that they placed in the previous quarter. Along with that, Big 5 increased their quarterly dividend by 20 percent to 18 cents per share and offered a special $1 cash dividend for the quarter.

Big 5 closed at $19.07, but jumped to $23.10 after hours in reaction.

ChemoCentryx

ChemoCentryx is a mid-cap biotechnology company that specializes in developing treatments and drugs for autoimmune diseases. As a biotech, they rely heavily on news, and the stock is often very volatile with rapid price movements.

Unfortunately, we saw a movement down today. The FDA, a government organization that approves drugs, questioned the clinical data behind their drug, avacopan, which is a treatment for a rare autoimmune disease. This has left investors believing that the drug would have an uphill battle to get approval, as the FDA was especially critical about this one. However, there are still some positive hopes that the drug can go through.

ChemoCentryx had a rough Tuesday, closing at $26.63, which was 45.45% lower than the previous close.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
The Crude Oil Bust 🛢
28 September, 2023

Surging global crude oil prices, driven by factors like OPEC+ production cuts have pushed U.S. West Texas Intermediate futures to over $95 per barrel.
Metaverse Returns 🤖
28 September, 2023

Meta, led by CEO Mark Zuckerberg, is intensifying its commitment to innovation in the Metaverse through the introduction of the Quest 3 VR headset.

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.