Optical Cable (OCC) Stock

Regenerative medicine company Orthocell Ltd (ASX:OCC, OTC:ORHHF) has appointed Device Technologies Asia (DVT Asia) as the exclusive distributor for its market-leading nerve repair device, Remplir™, in Singapore. This marks the first major international expansion of Remplir outside Australia and New Zealand, where the device has seen rapid adoption and sales growth since its launch. It’s also on the back of Remplir’s recent regulatory approval by Singapore’s Health Sciences Authority, which opens the door for first sales in the first quarter of 2025. The company is committed to accelerating revenue generation in high-potential markets while establishing Remplir as a leading solution in the US$3.5 billion global nerve repair market. Orthocell CEO and MD Paul Anderson said: “Device Technologies Asia is a leading supplier of innovative medical solutions to hospitals and healthcare professionals throughout Singapore and South East Asia. “We are delighted to extend our very successful distribution partnership with Device Technologies in Australia and New Zealand into Singapore. “They have a proven track record in successfully driving the market entry of high-quality products with specialist capabilities and resources, and in the marketing, promotion and distribution of Remplir™. “We are very much looking forward to working with DVT Asia to establish Remplir as the highest quality nerve repair device in Singapore. We expect revenue growth and surgeon adoption of Remplir to accelerate from market launch in Q1 CY25.” Singapore’s status as a strategic hub for advanced medical treatments and a regulatory gateway to ASEAN markets makes it a critical milestone in Orthocell’s global growth strategy. DVT Asia will leverage its strong local presence and established relationships with plastic reconstructive and orthopaedic surgeons to drive market penetration, supported by targeted promotional efforts and medical education initiatives. Orthocell is well-funded for this expansion, with around A$35 million in cash and no debt. The company is also progressing regulatory efforts in other key markets, including the United States, Canada, Europe and additional ASEAN countries. Results from its US market authorisation study and a 510(K) submission are on track for Q4 CY24, with FDA approval expected in early 2025. DTA managing director Nat McLay said: “I am extremely excited to partner with Orthocell to bring their Australian Made range of peripheral nerve repair devices to plastic and orthopaedic surgeons in Singapore. “At Device Technologies Asia we believe in investing in innovative technologies as part of a holistic portfolio that provides value to our customers and benefits their patients. “We look forward to working with the team at Orthocell to improve patient outcomes across the plastic reconstructive and orthopaedic industry.” Dell Technologies Inc (NASDAQ:DELL) posted strong third-quarter earnings driven by record AI server demand, though revenue fell short of Wall Street expectations, sending shares down 5% in postmarket trading. Revenue for the quarter ended November 1 rose 10% year-over-year to $24.4 billion, missing estimates of $24.7 billion. However, net income climbed 13% to $1.13 billion, and operating income increased 12% to $1.67 billion. Earnings per share (EPS) of $2.15 exceeded forecasts of $2.05. CEO Jeff Clarke highlighted AI growth, stating, “Interest in our portfolio is at an all-time high, driving record AI server orders demand of $3.6 billion in Q3 and a pipeline that grew more than 50%, with growth across all customer types.” Dell’s Infrastructure Solutions Group (ISG) led growth with revenue up 34% to $11.4 billion, including a 58% surge in servers and networking sales. Storage revenue rose 4%. The Client Solutions Group (CSG) saw revenue slip 1% to $12.1 billion, as consumer sales dropped 18%, partially offset by 3% growth in commercial sales. Gross margin fell to 21.8% from 23.1% a year earlier, while operating margin edged up to 6.8%. Dell ended the quarter with $6.6 billion in cash and repurchased $429 million in shares. AI demand remained a highlight, with Dell reporting a record $3.6 billion in orders and over 50% pipeline growth. Despite the earnings beat, investor concerns over the revenue miss and weak consumer demand weighed on shares, which are up 86% year-to-date.

Senator Warren insists U.S. regulators to impose growth cap on C, citing its persisting regulatory issues and claiming that the bank has become too big to manage.

Shares of Wells Fargo & Co (NYSE: WFC) dipped following news of an enforcement action by the Office of the Comptroller of the Currency (OCC), citing the bank's insufficient anti-money laundering efforts. Despite this, Jim Cramer views the pullback as an opportunity to buy a quality stock at a discount.

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today issued the following statement regarding a formal agreement between Wells Fargo Bank, N.A. and the Office of the Comptroller of the Currency (OCC) related to the bank's anti-money laundering (AML) and sanctions risk management practices. The agreement's requirements include enhancements to AML and sanctions risk management practices, obtaining the OCC's acceptance of the bank's program for assessing the AML and sanction.