IDT Corp Stock Price, News & Analysis

National Retail Solutions and Bringg are set to present at Home Delivery World 2022 on August 31, focusing on enhancing last-mile delivery accessibility. The presentation will be led by Elie Y. Katz, CEO of National Retail Solutions, and Daniela Perlmutter, SVP of Bringg. They aim to discuss industry strategies for expanding participation in last-mile delivery logistics. National Retail Solutions supports over 19,000 independent retailers, while Bringg optimizes logistics operations for enterprises globally.

IDT Corporation (NYSE: IDT) announced that the Federal Communications Commission’s Enforcement Bureau has completed its review regarding the renewal of spectrum licenses from IDT’s 2013 spinoff of Straight Path Communications. The Bureau does not plan to take further action, which IDT welcomes following their cooperation during the review process. This resolution allows IDT to focus on its core fintech and communication services without the uncertainty of ongoing regulatory scrutiny.

NRSInsights reported strong retail performance in July 2022, showing a 9.2% increase in same-store sales year-over-year, and a 6.5% increase from June 2022. Year-to-date sales rose 8.6% compared to the prior year. The increase in sales was driven by high demand for non-alcoholic beverages and beer. NRS operates over 16,000 POS terminals across the U.S., processing $11.5 billion in sales within the last year. The data indicates that inflationary pressures remain moderate in comparison to broader retail trends.

net2phone, a prominent cloud communications provider, has entered a strategic partnership with UPSTACK, enhancing the way businesses source digital infrastructure solutions. This collaboration allows UPSTACK’s network of advisors to offer net2phone’s cloud communication services to their clients. The partnership emphasizes net2phone's dedication to channel partners, offering comprehensive support and incentives. With advanced integrations for applications like Microsoft Teams and Salesforce, net2phone aims to equip businesses with cutting-edge communication solutions.

Newark, NJ, June 16, 2022 – net2phone has announced a partnership with TeleBermuda International Limited (TBi) to offer unified communications-as-a-service (UCaaS) solutions to TBi’s business customers in Bermuda. The collaboration aims to deliver co-branded UCaaS offerings that provide features such as unlimited domestic and international calling, video conferencing, and SMS capabilities. TBi President Lee Greene emphasized the partnership's potential for providing cost-effective solutions for Bermuda businesses. The announcement showcases net2phone's strategy to enhance its market presence through local partnerships.

IDT Corporation (NYSE: IDT) reported its 3Q22 results, revealing a 12.2% decrease in consolidated revenue to $328 million. Key revenue highlights include National Retail Solutions (NRS) recurring revenue, which surged 101.9% to $10 million, and net2phone subscription revenue increasing 42% to $14.2 million. However, net income dropped to $4.8 million, down from $36.3 million in 3Q21, translating to an EPS of $0.18, compared to $1.39 a year earlier. Despite challenges, Adjusted EBITDA remained stable at $18 million.

Alta Fox Capital Management, a significant shareholder of Hasbro (NASDAQ: HAS), is advocating for board changes at the upcoming Annual Meeting, highlighting the need for improved capital allocation and governance. In a recent letter, Alta Fox noted the independent advisory firm ISS recommends a 'WITHHOLD' vote on long-serving director Edward M. Philip, citing concerns over financial performance and disclosures. Alta Fox is now focused on electing Marcelo Fischer, a capital allocation expert, to replace Philip, aiming to address long-standing issues and enhance shareholder value.

Alta Fox Capital Management urges shareholders of Hasbro (NASDAQ: HAS) to vote for its three independent nominees for the Board of Directors, citing chronic underperformance by existing members. Alta Fox, holding 2.6% of Hasbro's shares, targets the removal of long-tenured directors, claiming they have overseen significant market share losses and inadequate capital allocation strategies. The firm believes that electing new members will enhance governance and accountability. The annual meeting is scheduled for June 8, 2022, where shareholders can vote via the GOLD Proxy Card.