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ZTO Express (Cayman) enjoys strong revenue performance from its express delivery services
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ZTO Express (Cayman) Inc.. (NYSE:ZTO) has surged 41.66% year to date, which means that it is among the few companies that have enjoyed a strong bullish performance so far this year.
ZTO Express has been experiencing an increase in parcel volumes, as well as significantly better performance from its express delivery services division. The company's total revenue was up by 14.7% year over year in Q2 2020 and the better performance is largely attributed to the higher revenues coming from its express delivery services division. The express delivery services revenue has improved by 16.3% on a year-over-year basis courtesy of a 47.9% increase in parcel volume. ZTO Express believes that the parcel volumes will be between 16.2 billion to 17 billion in 2020 which is a higher range than the previous range of 15.9 billion to 16.4 billion.
The company's freight forwarding services generated a 33.4% year-over-year revenue gain inform cross-border demand even with the ongoing COVID-19 concerns.
Ovid Therapeutics announces underwritten offering that aims to raise $50.0 million
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Ovid Therapeutics Inc. (NASDAQ:OVID) has rallied by 40.72% year to date, indicating strong gains so far.
Ovid Therapeutics recently announced an underwritten offering of 6,250,000 common stock, where each stock will be priced at $8.00. The company expects the underwritten offering to generate $50.0 million in gross proceeds. The revenue collected from the offering will be used to fund the advancement of Ovid's clinical development program for OV935 as a potential treatment for developmental and epileptic encephalopathies. Some of the proceeds will also be pumped into the company's OV101 program for Fragile X syndrome and Angelman syndrome. Some of the proceeds will also be used to fund OV101's pre-commercialization activities, while the remaining amount will boost the company's working capital and general purposes.
Akamai Technologies joins the Massachusetts Technology Leadership Council
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Akamai Technologies, Inc.. (NASDAQ:AKAM) has so far gained by 33.86% year to date indicating the stock's strong bullish momentum.
Akamai Technology recently announced that is the latest company to be welcomed into the Massachusetts Technology Leadership Council ("MassTLC") Tech Compact for Social Justice. So far there are about 62 technology companies based in Massachusetts that are part of the council. Akamai Technology vowed to honor a minimum of 3 out of the 12 initiatives that are part of the council's measurable initiatives. This includes a commitment to achieving racial equality in its organizational structure.
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COMTEX_370623061/2700/2020-09-03T06:33:07
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