WTI crude oil continues to trend higher as it bounced off the ascending channel bottom and is breaking past the mid-channel area of interest. This could put it on track towards testing the very top of the channel at $55 per barrel. The 100 SMA crossed below the longer-term 200 SMA, though, indicating that the path of least resistance is to the downside. In other words, resistance is more likely to hold than to break. Then again, the moving averages might simply be oscillating to reflect consolidation action. Stochastic is turning lower to confirm that sellers are regaining control while buyers take a break. RSI is also heading down from the overbought region to signal a return in selling pressure and a possible dip to the channel bottom at $52 per barrel. However, it also looks like price broke past a small bullish pennant continuation signal to confirm that buyers are ready for another leg higher, possibly the same height as the mast. US sanctions on Venezuela due to its political troubles are being seen as the main factor that spurred the price bounce, and the latest API report on private stockpiles is adding more bullish pressure. The agency reported a crude oil inventory build of 2.098 million barrels for the week ending Jan 25, which is lower compared to analysts expectations of a build of 7.97 million barrels. This comes ahead of the EIA report which might also release a smaller than expected build, easing concerns of oversupply in the US. Keep in mind that the OPEC output deal is already in force, which adds further downside pressure on global supply. However, crude oil’s next moves might hinge on overall market sentiment resulting from the FOMC decision and the NFP report later this week. Indications that the Fed would slow down its pace of tightening could further stoke risk taking and crude oil gains.

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WTI crude oil could be in for a big reversal as price forms an inverse head and shoulders on the 4-hour time frame. Price has yet to break past the neckline around the $55 per barrel mark before confirming an uptrend. The 100 SMA has already crossed above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to gain traction than to reverse. Price is also finding support at the 100 SMA dynamic inflection point and might also encounter buyers at the 200 SMA. Stochastic appears to be turning higher without hitting the oversold region, suggesting that buyers are eager to return. RSI has some room to head further south but is also pointing up to signal the presence of bullish momentum. Crude oil is edging slightly higher due to the crisis in Venezuela as this could limit the country’s production and ease global supply. Keep in mind that the OPEC output deal is already in force, which means that fewer barrels than usual are already being pumped to the market. Also, the US government imposed sanctions on Venezuelan state-owned oil firm PDVSA. Data on US stockpiles from the API and EIA would likely determine whether crude oil could go for an upside break and sustain its climb this week. Larger than expected draws could signal that demand is keeping up, thereby boosting prices, while a surprise build could revive oversupply concerns. Overall market sentiment is also in play, with trade tensions resurfacing and weighing on business outlook. In turn, this hurts demand for commodities and drags prices down. Any sign of positive developments between the US and China, however, could revive risk taking and market appetite for crude oil.

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A U.S. federal judge rejected the SEC’s request for more information from Binance.US on Monday. The parties’ legal battle has stuck. The presiding court advised opposing parties to mutually cooperate and progress the case. In its examination of Binance.US, the SEC has pushed for its software acquisition. To verify compliance, the agency demanded specific data and deposed Binance executives. Before the hearing, Binance.US and the SEC argued over the move all week. Judge Faruqui was hesitant to grant the SEC’s request for Binance’s software swiftly. The source advised the SEC to tighten discovery requests and interview more witnesses. The judge seems to prefer a more focused data collection method before giving the SEC full access to Binance’s software. Due to the ongoing regulatory issues, Binance.US has already suffered a lot. As per fresh statistics by Kaiko, Binance.US’s weekly trading volume has shrunk from $5 Billion to only $40 million. On June 5, the SEC sued Binance. The US. The lawsuit addressed Binance.US, Binance Holdings Ltd., and CEO Changpeng “CZ” Zhao. SEC accuses them of selling unregistered securities. According to the SEC, Binance is hard to get. The legal dispute centers on US data. On September 15, the SEC accused Binance.US of non-cooperation. The SEC observed that BAM Trading, Binance.US’s parent business, supplied just 220 documents during discovery. The SEC called numerous files incomprehensible screenshots and documents lacking essential elements such as dates and signatures. According to reports, BAM Trading limited critical witness depositions to four sanctioned personnel. Trending Now: Citigroup Introduces Citi Token Services for Institutional Clients Binance alleges frequent SEC discovery demands create undue hardship. The SEC claimed Binance lacked cooperation despite complying with a consent order for its investigation into unregistered securities operations and other charges. This hearing cost the SEC half of its Binance lawsuit. The judge’s reluctance to grant speedier access to Binance’s software and his need for more explicit discovery requests implies that both sides must clarify and strengthen their claims before advancing. The SEC targets Binance. The US prioritizes security for the exchange of clients’ funds. SEC claimed Binance was thoroughly investigated and must determine if it’s connected to Binance’s international operations. No one knows how the lawsuit will finish. SEC and Binance.US must resolve complicated legal concerns to satisfy all sides, meet regulatory obligations, and safeguard crypto investors.

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Zymeworks Inc (NYSE: ZYME) stock rose 11.36% on Jan 20th, 2020 (Source: Google finance) and continued its bullish momentum by rising  by over 1 % on Jan 21st, 2020 (as of 12:13 pm GMT-5; Source: Google finance) . The company has recently highlighted its key accomplishments in 2019 and updated its corporate priorities. Zymeworks has also announced multiple clinical program advances for its lead candidates, ZW25 and ZW49. Zymeworks has started a Phase 2 clinical trial that evaluates ZW25 in combination with Ibrance (palbociclib), which is an oral CDK4/6 inhibitor, and the hormone therapy fulvestrant with the goal of providing a chemotherapy-free treatment option to people with advanced HER2-positive, hormone receptor-positive breast cancer. Zymeworks has signed a clinical collaboration with Pfizer to advance the study. Further, ZW25 has now achieved two additional regulatory milestones, which is recently being granted Fast Track and Orphan Drug Designations by the FDA in refractory biliary tract cancer (BTC). These were ZW25’s second Fast Track and third Orphan Drug Designations. ZW25 already obtanined a Fast Track Designation for 1st line gastroesophageal adenocarcinoma (GEA), and Orphan Drug Designations for GEA and ovarian cancer. An interim update from the ongoing ZW49 Phase 1 dose-escalation study shows that there have been no dose-limiting toxicities observed and the maximum tolerated dose has not been reached. With over ten patients treated, the majority of treatment-related adverse events have been grade 1 or 2, and were reversible and manageable on an outpatient basis. The preliminary results from these initial dose cohorts include anti-tumor activity. Meanwhile, W49 has entered Phase 1 Clinical Testing for HER2-Expressing Cancers and is currently being evaluated. ZW49 is a HER2-targeted bispecific antibody-drug conjugate (ADC) that uses the unique geometry and antibody framework of ZW25, and is armed with Zymeworks’ proprietary ZymeLink cytotoxin. This design results in enhanced internalization and delivery of the cytotoxin to cancer cells. On the other hand, the company for the quarter ended September 30, 2019 has reported the revenue of $7.9 million as compared to $2.1 million in the same period of 2018. Revenue for the third quarter of 2019 includes $7.5 million recognized upon Celgene’s exercise of its commercial license option and $0.4 million in research and support payments from our partners. Revenue in the same period in 2018 was mainly due to a $2.0 million development milestone upon Lilly’s submission of an IND application under a licensing agreement with Lilly. The net loss for the quarter ended September 30, 2019, was $30.5 million as compared to $18.8 million in the same period of 2018. This was mainly due to an increase in research and development expenses associated with our lead therapeutic candidates and other programs.  

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Zuora Inc (NYSE: ZUO) stock fell over 1.3% on December 6th, 2019 but recovered over 1.1% on December 9th, 2019 (as of 11:33:24; Source: Google finance). The company posted decent results for the third quarter of FY 20. The company has reported the Non-GAAP net loss of $6.5 million, compared to a non-GAAP net loss of $9.5 million in the third quarter of fiscal 2019. The customers with ACV equal to or more than $100,000 was 586, which is a growth of 16% year-over-year. The company has generated Net cash provided by operating activities of $3.5 million, compared to net cash used in operating activities of $6.4 million in the third quarter of fiscal 2019. Free cash flow was negative $5.1 million compared to negative $10.3 million in the third quarter of fiscal 2019. Cash and cash equivalents and short-term investments stood at $170.4 million as of October 31, 2019. ZUO in the third quarter of FY 20 has reported the adjusted loss per share of 6 cents, beating the analysts’ estimates for the adjusted loss per share of 9 cents, according to Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 17 percent to $71.82 million in the third quarter of FY 20, beating the analysts’ estimates for revenue by 2.60%. For the fourth quarter 2020, the company expects the total revenue to be in the range of $71-72.5M with a loss per share is expected to be in the range of $0.11-0.09. Subscription revenue is expected to be in the range of $54.0M – $55.0M for the fourth quarter. Non-GAAP loss from operations is expected to be in the range of $(11.0M) – $(10.0M) for the fourth quarter. For the fourth quarter 2020, the company expects the Non-GAAP net loss per share to be in the range of $(0.11) – $(0.09). For FY20, the company expects the total revenue to be in the range of $206-207M with a loss per share is expected to be in the range of $0.37-0.35. Subscription revenue is expected to be in the range of $206.0M – $207.0M for the FY 20. Non-GAAP loss from operations is expected to be in the range of $(40.8M) – $(39.8M) for the fourth quarter The current consensus EPS estimate is -$0.10 on $71.90 million in revenues for the coming quarter and -$0.39 on $275.90 million in revenues for the current fiscal year.

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Zuora Inc (NYSE: ZUO) stock rose over 21% on June 1st, 2018 (as of 1 Jun, 1:27 PM GMT-4; Source: Google finance) post posting a solid first quarter of 2019 quarter performance For the first quarter of 2019, the group’s Subscription revenue surged 39% on a yoy basis to $36.1 million, boosted by solid demand for their flagship products. Subscription revenue comprised 78% of  the total revenue during the quarter. The Total revenue rose 60% on a year-over-year basis to $51.7 million. Their core billing transaction volume continued to grow during the quarter which reached $7.2 billion. The group expanded their footprint through platform upgrades, cross sells, and up sells of add-on products. The net dollar base retention rate reached 112% during the first quarter rising 2% as compared to Q4 2018. Customers with ACV greater or equal to 100k rose from 415, as at the end of Q4 2018 to 441 during the first quarter driven by their customer segment on the back of the ongoing demand from larger enterprises in addition to smaller current customers rising their ACV. These 441 customers represent over 80% of their total ACV as of April 30, 2018. Subscription revenue rose 39% yoy to $36.1 million while maintained the same robust growth rate as the prior quarter of Q4. The overall revenue rose 60% yoy to $51.7 million. Professional services rose 149% yoy to $15.6 million during the quarter against pcp boosted by contributions from the RevPro product which was not in their earlier year comparison. Professional services revenues were driven by the new business of one or both of their flagship products. Professional services revenue comprised $1.4 million from the current ASC 605 customers upgrading to the ASC 606. The group is not expecting similar contributions in future quarters as the financial impact from the current customers upgrading their ASC 605 implementation to ASC 606 continues to fall off. Non-GAAP subscription gross margin reached 76% while non-GAAP total gross margin reached 54%. The non-GAAP subscription gross margin includes the impact from a better investment in infrastructure to support their growth.

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Zuora Inc (NYSE: ZUO) stock fell over 10.2% on 22nd March 2019 (as of 10:26 am GMT-4; Source: Google finance) after the company reported a fourth-quarter loss of $20.7 million, compared with a loss of $13.8 million in the year-ago period. Net cash used in operating activities was $7.0 million, compared to net cash used in operating activities of $6.9 million in the fourth quarter of fiscal 2018. Free cash flow was negative $9.8 million compared to negative $9.1 million in the fourth quarter of fiscal 2018. Cash and cash equivalents, restricted cash and short-term investments were $177.9 million as of January 31, 2019. ZUO in the fourth quarter of FY 19 has reported the adjusted loss per share of 11 cents, beating the analysts’ estimates for the adjusted loss per share of 11 cents. The company had reported the adjusted revenue growth of 29 percent to $64.1 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $62.8 million. Subscription revenue was $46.7 million, an increase of 35% year-over-year. Additionally, ZUO has signed more than 30 new deals over $250,000 in the past year, up nearly 50% from the prior year. In Q4, transaction volume through the billing system grew 56% to $10.8 billion. Customers with ACV equal to or greater than $100,000 was 526, which represents 27% year-over-year growth. Dollar-based retention rate was 112%, compared to 110% in the prior year. Meanwhile, ZUO has provided an outlook using both old accounting rules and new accounting rules, maintaining that the Wall Street consensus was using the old rules for estimates. Under the old rules, Zuora expects a loss of 13 cents to 12 cents a share on revenue of $65 million to $66 million for the fiscal first quarter, and a loss of 44 cents to 40 cents a share on revenue of $293 million to $297.5 million for the year. Analysts surveyed by FactSet expect a loss of 13 cents a share on revenue of $66 million for the first quarter, and a loss of 46 cents on revenue of $294.2 million for the year. Under the new rules, Zuora said it expects a loss of 14 cents to 13 cents a share on revenue of $63.5 million to $64.5 million for the fiscal first quarter, and a loss of 44 cents to 40 cents a share on revenue of $289 million to $293.5 million for the year.  

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Zuora Inc (NYSE: ZUO) stock fell over 15.3% on 31st August, 2018 (as of  11:26 AM GMT-4; Source: Google finance) on disappointing results . The company has posted the GAAP net loss of $19.6 million, compared to a net loss of $14.8 million in the second quarter of fiscal 2018. Net cash used in operating activities was $2.4 million, compared to $8.7 million in the second quarter of fiscal 2018. Free cash flow was negative $7.3 million compared to negative $9.6 million in the second quarter of fiscal 2018. Cash and cash equivalents and restricted cash were $185.8 million as of July 31, 2018. ZUO in the second quarter of FY 19 has reported the adjusted loss per share of 13 cents, beating the analysts’ estimates for the adjusted loss per share of 16 cents. The company had reported the adjusted revenue growth of 47 percent to $57.8 million in the second quarter of FY 19, beating the analysts’ estimates for revenue of $54.12 million. Moreover, the customers with ACV equal to or greater than $100,000 was 474, representing 28% year-over-year growth. This also represents 7% quarter-over-quarter growth in such customers, and a net add of 33 of such customers. The dollar-based retention rate remained at 112% driven by strong upsell activity. Customer usage of Zuora solutions grew, with $7.5 billion in transaction volume through Zuora’s billing platform during the second quarter, an increase of 41% year-over-year. The company announced the Spring ’18 collection of product updates, including the new subscription Order Management – a Zuora Central Platform upgrade – and the general availability of Zuora Collect. Further, the company kicked off the Subscribed conference series in San Francisco in June, with events scheduled in the third quarter in Melbourne, Sydney, Paris, London and New York, bringing together hundreds of companies around the world seeking to thrive amidst what we see as the most disruptive business-model shift in a century. For the third quarter 2019, the company expects the total revenue to be in the range of $58.3 to $59.3 million. Subscription revenue is expected to be in the range of $42.0 to $42.5 million. Non-GAAP loss from operations to be in the range of $13.5 to $12.5 million For the full fiscal 2019, the ZUO expects the total revenue to be in the range of $227.0 to $230.0 million. Subscription revenue to be in the range of $163.0 to $164.5 million and Non-GAAP loss from operations to be in the range of $52.0 to $50.0 million

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