Latest news with #PurpleInnovation
Yahoo
28-06-2025
- Business
- Yahoo
Two Workers for SEC's EDGAR System Charged With Insider Trading
(Bloomberg) -- Two men who worked for the Securities and Exchange Commission's EDGAR public filing system were charged with insider trading after allegedly pocketing $1 million by stealing non-public information obtained through their jobs. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged in a federal complaint with obtaining material, non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work at EDGAR, according to Brooklyn US Attorney Joseph Nocella. Prosecutors say that between March and June 2025 the pair engaged in a scheme to obtain information about these companies, which announced they had entered into merger agreements or partnerships 'that resulted in significant increases in the share price of each company's stock.' Chen, 31, and Zhen, 29, purchased shares in the companies before the announcements, 'and sold those shares at a significant profit immediately after the announcement,' according to a complaint filed in federal court in Brooklyn. 'In total, Chen and Zhen have made a profit of more than $1 million from their trading.' Agents with the Federal Bureau of Investigation arrested Chen and Zhen Friday night at John F. Kennedy International Airport as they were planning to board a flight to Hong Kong, said John Marzulli, a spokesman for Nocella. Chen worked as an EDGAR operator and assistant manager while Zhen worked as an EDGAR operator and typeset manager, prosecutors said. The two had access to the company announcements before they were filed. Both men are charged with securities fraud, which carries a prison term of as long as 25 years, prosecutors said. Chen and Zhen made their initial court appearances in federal court in Brooklyn on Saturday before US Magistrate Judge Vera Scanlon, who ordered them held without bail. Chris Wright, a lawyer for Zhen, and Charles Millioen, a lawyer for Chen, didn't immediately return email messages seeking comment about their clients. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
28-06-2025
- Business
- Yahoo
Two Workers for SEC's EDGAR System Charged With Insider Trading
(Bloomberg) -- Two men who worked for the Securities and Exchange Commission's EDGAR public filing system were charged with insider trading after allegedly pocketing $1 million by stealing non-public information obtained through their jobs. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged in a federal complaint with obtaining material, non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work at EDGAR, according to Brooklyn US Attorney Joseph Nocella. Prosecutors say that between March and June 2025 the pair engaged in a scheme to obtain information about these companies, which announced they had entered into merger agreements or partnerships 'that resulted in significant increases in the share price of each company's stock.' Chen, 31, and Zhen, 29, purchased shares in the companies before the announcements, 'and sold those shares at a significant profit immediately after the announcement,' according to a complaint filed in federal court in Brooklyn. 'In total, Chen and Zhen have made a profit of more than $1 million from their trading.' Agents with the Federal Bureau of Investigation arrested Chen and Zhen Friday night at John F. Kennedy International Airport as they were planning to board a flight to Hong Kong, said John Marzulli, a spokesman for Nocella. Chen worked as an EDGAR operator and assistant manager while Zhen worked as an EDGAR operator and typeset manager, prosecutors said. The two had access to the company announcements before they were filed. Both men are charged with securities fraud, which carries a prison term of as long as 25 years, prosecutors said. Chen and Zhen made their initial court appearances in federal court in Brooklyn on Saturday before US Magistrate Judge Vera Scanlon, who ordered them held without bail. Chris Wright, a lawyer for Zhen, and Charles Millioen, a lawyer for Chen, didn't immediately return email messages seeking comment about their clients. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Bloomberg
28-06-2025
- Business
- Bloomberg
Two Workers for SEC's EDGAR System Charged with Insider Trading
Two men who worked for the Securities and Exchange Commission 's EDGAR public filing system were charged with insider trading after allegedly pocketing $1 million by stealing non-public information obtained through their jobs. Justin Chen and Jun Zhen, both of Brooklyn, New York, were charged in a federal complaint with obtaining material, non-public information about companies like Purple Innovation Inc., Ondas Holdings Inc., SigmaTron International Inc., and Signing Day Sports Inc. through their work at EDGAR, according to Brooklyn US Attorney Joseph Nocella.
Yahoo
07-05-2025
- Business
- Yahoo
Purple (NASDAQ:PRPL) Reports Q1 In Line With Expectations, Stock Jumps 20.3%
Bedding and comfort retailer Purple (NASDAQ:PRPL) met Wall Street's revenue expectations in Q1 CY2025, but sales fell by 13.2% year on year to $104.2 million. The company's full-year revenue guidance of $475 million at the midpoint came in 0.7% above analysts' estimates. Its non-GAAP loss of $0.11 per share was 23.3% above analysts' consensus estimates. Is now the time to buy Purple? Find out in our full research report. Purple (PRPL) Q1 CY2025 Highlights: Revenue: $104.2 million vs analyst estimates of $104.5 million (13.2% year-on-year decline, in line) Adjusted EPS: -$0.11 vs analyst estimates of -$0.14 (23.3% beat) Adjusted EBITDA: -$4.73 million vs analyst estimates of -$7.59 million (-4.5% margin, 37.7% beat) The company reconfirmed its revenue guidance for the full year of $475 million at the midpoint Adjusted EBITDA guidance for the full year of $5 million at the midpoint, well above expectations Operating Margin: -13.9%, up from -19.3% in the same quarter last year Free Cash Flow was -$25.31 million compared to -$19.85 million in the same quarter last year Market Capitalization: $71.8 million "Our first quarter performance reflects continued progress against our strategic priorities to stabilize and strengthen the business, and position Purple for long-term success," said Rob DeMartini, CEO of Purple Innovation. Company Overview Founded by two brothers, Purple (NASDAQ:PRPL) creates sleep and home comfort products such as mattresses, pillows, and bedding accessories. Sales Growth A company's long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Unfortunately, Purple struggled to consistently increase demand as its $472 million of sales for the trailing 12 months was close to its revenue five years ago. This wasn't a great result and is a sign of poor business quality. Purple Quarterly Revenue Long-term growth is the most important, but within consumer discretionary, product cycles are short and revenue can be hit-driven due to rapidly changing trends and consumer preferences. Purple's recent performance shows its demand remained suppressed as its revenue has declined by 6.3% annually over the last two years. Purple Year-On-Year Revenue Growth This quarter, Purple reported a rather uninspiring 13.2% year-on-year revenue decline to $104.2 million of revenue, in line with Wall Street's estimates. Looking ahead, sell-side analysts expect revenue to grow 1.5% over the next 12 months. Although this projection implies its newer products and services will catalyze better top-line performance, it is still below the sector average.
Yahoo
14-03-2025
- Business
- Yahoo
Purple Innovation Soars 38% as Company Announces Strategic Review
Purple Innovation (PRPL, Financials) surged 38.1% to $0.92 as of 2:45 p.m. GMT-4 on Friday after the company announced a review of strategic alternatives following inbound expressions of interest. Warning! GuruFocus has detected 5 Warning Signs with PRPL. To maximize shareholder value, the board is debating a possible sale, merger, or other financial direction by Gary T. DiCamillo (chair), D. Scott Peterson, and Claudia Hollingsworth, a special committee of independent directors will monitor the assessment. Jefferies LLC has been hired by the corporation as a process financial DiCamillo said the review returns to positive adjusted EBITDA and cash flow after Purple's exceptional fourth-quarter 2024 financial performance, which was marked by A major component in improving the company's financial situation, he also mentioned its enlarged credit facility, which grew by $19 million to reach $80 million overall. Purple, well-known for its GelFlex Grid mattress technology, said it has not set a schedule for finishing the evaluation and has not decided on a possible purchase either. Apart from really required upgrades, the corporation does not want to provide any more with Purple's fourth-quarter financial results, which revealed an earnings-per-share loss of $0.07, surpassing estimates by $0.01, the news came with Missing projections by $93,910, revenue for the quarter dropped 11.6% year-over-year to $128.98 markets its goods online and via 58 company-owned shops as well as 3,000 retail outlets throughout the country. This article first appeared on GuruFocus.
