
United-Guardian: Q1 Earnings Snapshot
The Hauppauge, New York-based company said it had profit of 12 cents per share.
The cosmetic ingredients maker posted revenue of $2.5 million in the period.
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12 minutes ago
- Yahoo
Why Oklo Stock Jumped 9.2% Today
Key Points Monday's earnings report showed slightly improved losses year over year, but investors wanted more clarity in its development timeline. The Department of Energy named Oklo as one of 11 companies that could deploy advanced nuclear reactors by as early as the middle of 2026. Oklo is a promising nuclear start-up, but many challenges remain in its quest to bring small modular reactors (SMRs) to market. 10 stocks we like better than Oklo › Shares of Oklo (NYSE: OKLO) jumped on Tuesday, finishing the day up 9.2%. The spike came as the S&P 500 and Nasdaq Composite gained 1.1% and 1.3%, respectively. Oklo stock started the day down, having dropped in aftermarket trading following Monday's release of its latest quarterly earnings. However, news that the Department of Energy (DOE) has tapped the nuclear energy start-up for a key federal program led to a sharp reversal and the day's gain. DOE calls on Oklo Late Monday, Oklo released its second-quarter results showing a net loss of $24.7 million or $0.18 per share for the pre-revenue start-up. Although this was an improvement year over year and in line with expectations, investors were frustrated by the lack of clarity in its development timeline. That frustration was quickly overshadowed, however, when the Department of Energy announced a new initiative exploring the deployment of advanced nuclear reactors at U.S. national laboratories with the goal of having at least three operational by mid-2026. Oklo was one of 11 companies selected. That target is, however, much more aggressive than Oklo's own stated timeline for full commercial operations by late 2027 to early 2028. Investors seemed to believe this could mean that Oklo's true commercial timeline is faster than previously stated. Still early days for this nuclear contender Despite today's optimism and the validation of being selected by the DOE, OKLO is still a company developing new technology. It's a long road to full commercial operations, and many hurdles lie ahead. That being said, Oklo is well funded and has key connections to the artificial intelligence (AI) industry -- OpenAI's Sam Altman is a major backer. For investors with a high risk tolerance interested in alternative nuclear investments, Oklo is a good pick. Should you buy stock in Oklo right now? Before you buy stock in Oklo, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Oklo wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 11, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Oklo Stock Jumped 9.2% Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


UPI
14 minutes ago
- UPI
Ex-Blueacorn exec admits to COVID-era small business loan scheme
Aug. 12 (UPI) -- An ex-financial executive is likely to spend years behind bars over wire fraud charges in an alleged pandemic-era financial scheme to defraud the federal government's small business loan program. The U.S. Department of Justice said Monday that Nathan Reis, now of Rio Grande in Puerto Rico by way of Arizona, pleaded guilty in Texas to one count of conspiracy to commit wire fraud for his role as company chief at Scottsdale-based lender Blueacorn. The plea was tied to attempts to fraudulently obtain relief money via the U.S. Small Business Administration's Paycheck Protection Program during the COVID-19 pandemic. "This defendant had the opportunity to help small businesses overcome tremendous financial hardships during a time of national crisis but instead exploited the system to line his own pockets with taxpayer money," Nancy E. Larson, the acting U.S. attorney for the northern district in Texas, said in a statement. Reis, 47, created the venture in 2020 with his wife, Stephanie Hockridge, a former KNXV television anchor in Phoenix, purportedly to help small businesses and owners to obtain the federal government's PPP loans. "Blueacorn connects technology and financial expertise to help small businesses, independent contractors, self-employed individuals, and gig workers with their financial needs," the company's website reads. In June, Hockridge was found guilty of conspiracy but acquitted on multiple counts of wire fraud. His guilty plea was filed after an initial plea of not guilty. The SBA's Paycheck Protection Program was part of the 2020 CARES Act singed by then-U.S. President Donald Trump during the virus outbreak in his first term. It was targeted to infuse money into small businesses to bankroll payroll and other business-related expenses. According to court documents, Reis conspired with business associates to "submit false and fraudulent PPP loan applications." It included "fabricating documents that falsified income and payroll figures in order to receive loan funds for which they were not eligible." Federal officials contend that Blueacorn was the vehicle through which Reis and co-conspirators submitted an undisclosed number of fraudulent PPP loan applications that, according to the Justice Department, "they knew contained materially false information to make more money." "Reis and others fabricated documents, including tax documents and bank statements," the deparment added. "As part of the conspiracy, Reis and his co-conspirators charged borrower's fees based on a percentage of the funds received." The SBA's well-intended PPP opened the door to waves of other similar acts of fraud. "During a national emergency, this defendant exploited a taxpayer-funded program that individuals and small businesses desperately needed to survive," acting Assistant U.S. Attorney General Matthew Galeotti in DOJ's criminal division, said in a release. The fraud section at Justice has seized nearly $80 million and prosecuted more than 200 defendants in over 130 separate PPP-related criminal cases. In January, seven people were charged by a federal grand jury in a multi-state conspiracy that defrauded more than a half-billion dollars in over 8,000 bogus pandemic-era tax returns. "Reis and others exploited a program meant to keep small businesses afloat during the pandemic," stated Assistant Director Jose A. Perez of the FBI's Criminal Investigative Division. Any individual with info on COVID-related fraud attempts may contact the department. Reis is schedule for sentencing November 21. He faces a max penalty of 20 years in prison contingent upon sentencing guidelines by a federal judge, and $250,000 in fines.


New York Times
14 minutes ago
- New York Times
Court Ruling Casts Doubt on New York's Cannabis Licensing Process
A federal appeals court on Tuesday ruled that certain criteria used to award licenses to open cannabis businesses in New York are very likely unconstitutional. The state prioritizes people who were convicted of marijuana offenses under its past laws, and those who have lived in neighborhoods where marijuana arrests were highest. But in a 2-1 decision, judges on the Court of Appeals for the Second Circuit in Manhattan said that the criteria, which excluded people with federal or out-of-state marijuana convictions from receiving priority, appeared to violate constitutional doctrine barring states from favoring their own residents over people from other states. The decision may lead to New York having to revise the order in which it considers thousands of pending applications for business licenses. At a public meeting in July, regulators said there were nearly 4,700 applications awaiting consideration, more than half of them for recreational dispensaries. But the biggest impact, legal observers said, is likely to be in other states that use similar criteria. The plaintiffs have filed lawsuits in a handful of states, including California, Washington, Maryland and Rhode Island. This is a developing story and will be updated.