Gapping down
In reaction to earnings/guidance:
ASUR -16.3%, NVT -6.1%, DBRG -6%, TDS -5.7%, BJRI -5.6%, AMCR -4.5% (also to sell its 50% interest in Bericap North America for $122 mln; also raises dividend), GTLS -3.7%, FOXF -3.4%, ESNT -3.3%, RMAX -3%, CUBI -2.7%, KWR -2.7%, EMN -2.5%, EGO -2.2%, IR -2%, AAPL -1.8% (also files debt securities shelf offering for an undisclosed amount), SM -1.6%, CTRA -1.5%, RGA -1.5%, ZYME -1.5%, AMED -1.4%, CAR -1.3%, TNC -1.2% (also increases dividend), LNT -1.1% (also expects to increase dividend in FY25), VIAV -1.1%
Other news:
EPIX -70% (Announces Termination of Phase 2 Study Evaluating Masofaniten Combined with Enzalutamide in Patients with Metastatic Castration-Resistant Prostate Cancer)
LXRX -34.4% (FDA panel votes 11-3 against benefits for LXRX's Sotagliflozin)
ARBE -19.2% (stock offering)
ASPI -9.3% (stock offering)
MYO -3% (MyoPro to be provided to patients covered by private insurance)
BWMN -1.6% (to acquire Exeltech)
PTON -1.2% (MEC and PTON resolve litigation)
Gapping up
In reaction to earnings/guidance:
TEAM +20.8% (also authorizes new $1.5 bln share repurchase program), PRLB +18.8%, CDXC +17.5%, HALO +12%, W +11.7%, MTZ +9%, WAT +8.6%, MD +8.4%, GDYN +7.5%, AMZN +7.2%, UNF +7.1% (also to delay 10-K), INTC +5.9%, DORM +5.2% (also authorizes new $500 mln share repurchase program), FUBO +5.1%, CHTR +5%, CON +4.5%, TREE +4.3%, MGA +3.9%, TILE +3.9%, ICFI +3.8%, CUBE +3.6%, USM +3.4%, ACCO +3.1%, LOCO +3.1%, SEM +3% (also authorizes new $1 bln share repurchase program), SPNT +3%, SON +2.7%, CAH +2.7%, MERC +2.6%, NMR +2.5%, CVX +2.1%, XOM +1.9%, LMAT +1.8%, TXNM +1.8%, SKYW +1.7%, CNO +1.6%, VICI +1.1%
Other news:
GSAT +64.8% (enters into a material definitive agreement)
EOSE +8.7% (achieves all four of the second performance milestones)
CDZI +8.6% (enters into LoI with infrastructure fund)
KRMD +6.5% (presents data)
ABT +5.3% (cleared of liability in latest preterm formula case, according to Reuters)
BRLS +5.3% (expands US Walmart distribution)
CACI +5% (awarded $226 mln task order from US Southern Command)
WMPN +3.7% (Mid Penn Bancorp (MPB) to acquire WMPN in an all-stock transaction valued at approximately $127 million)
ZK +3.3% (October deliveries)
RILY +2.7% (provides update on wealth management business)
BA +2.3% (Boeing union is endorsing and recommending the latest IAM/Boeing Contract Proposal; vote will take place Monday)
SUPN +2.1% (announces data in a poster presentation)
EE +2.1% (increases dividend)
TTEC +1.9% (retains legal and financial advisors)
WCC +1.6% (to acquire Ascent)
TSM +1.3% (will receive ASML (ASML) chip machines by the end of the year, according to Digitimes)
Gapping up
In reaction to earnings/guidance:
TEAM +20.8% (also authorizes new $1.5 bln share repurchase program), PRLB +18.8%, CDXC +17.5%, HALO +12%, W +11.7%, MTZ +9%, WAT +8.6%, MD +8.4%, GDYN +7.5%, AMZN +7.2%, UNF +7.1% (also to delay 10-K), INTC +5.9%, DORM +5.2% (also authorizes new $500 mln share repurchase program), FUBO +5.1%, CHTR +5%, CON +4.5%, TREE +4.3%, MGA +3.9%, TILE +3.9%, ICFI +3.8%, CUBE +3.6%, USM +3.4%, ACCO +3.1%, LOCO +3.1%, SEM +3% (also authorizes new $1 bln share repurchase program), SPNT +3%, SON +2.7%, CAH +2.7%, MERC +2.6%, NMR +2.5%, CVX +2.1%, XOM +1.9%, LMAT +1.8%, TXNM +1.8%, SKYW +1.7%, CNO +1.6%, VICI +1.1%
Globalstar enters into a material definitive agreement
- As previously disclosed, Globalstar, Inc. is party to a terms agreement with its customer, Apple Inc. (AAPL), which Terms Agreement contains terms and conditions governing the development, launch and operation of Satellite Services.
- Extended MSS Network
- On October 29, 2024, the Company and Customer agreed to make certain amendments to the Services Agreements and entered into other related agreements for Globalstar to deliver expanded services to Customer over a new mobile satellite services network, including a new satellite constellation, expanded ground infrastructure, and increased global MSS licensing. The Extended MSS Network will be owned by Globalstar Licensee, LLC, together with its subsidiaries, and operated by the Company.
- The Company will retain control of the board of managers of the Globalstar SPE and continue to operate and maintain the assets owned by and licenses granted to the Globalstar SPE. Globalstar will retain 100% of all terrestrial, MSS and other revenue and will continue to allocate 85% of its network capacity to render the Satellite Services to Customer across existing and new satellites as well as use the remaining capacity to service its other MSS customers.
Early premarket gappers
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Gapping up:
- PRLB +20.6%, TEAM +20.1%, CDXC +17.5%, HALO +14.7%, WMPN +12.2%, CDZI +8.6%, GDYN +7.5%, UNF +7.1%, AMZN +6.1%, INTC +5.9%, BRLS +5.3%, DORM +5.2%, EOSE +5.1%, CACI +5%, ABT +4.8%, TREE +4.7%, CON +4.5%, MTZ +4.2%, ZK +4.1%, MGA +3.9%, TILE +3.9%, ICFI +3.8%, CUBE +3.6%, LOCO +3.1%, SEM +3%, SPNT +3%, SON +2.7%, MERC +2.6%, NMR +2.5%, SKYW +2.3%, SUPN +2.1%, EE +2.1%, KRMD +2.1%, LXRX +2.1%, BA +2.1%, CVX +2.1%, CTRA +2%, ACCO +1.6%, CNO +1.6%, AES +1.2%, WCC +0.9%
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Gapping down:
- EPIX -64.8%, ARBE -18.7%, FOXF -7.9%, ASUR -6.8%, BJRI -5.6%, ASPI -5.2%, MYO -3%, BWMN -3%, RMAX -3%, CUBI -2.7%, KWR -2.7%, AMCR -2.3%, EGO -2.2%, SM -1.6%, RGA -1.5%, ZYME -1.5%, NIO -1.4%, COHU -1.3%, COF -1.2%, CAR -1.2%, TNC -1.2%, WAT -1.2%, CCCC -1.1%, LNT -1.1%, VIAV -1.1%, AAPL -1%, IR -1%
Boohoo Names Dan Finley as CEO, Defying Frasers’ Bid to Install Mike Ashley
Frasers—which has a 27% stake in Boohoo—requested Ashley’s appointment last week
Boohoo named Dan Finley as its next chief executive officer, spurning major shareholder Frasers’ attempts to install its owner Mike Ashley at the helm.
Last week, FTSE 100-listed sports and fashion retailer Frasers—which has a 27% stake in Boohoo—issued a request to appoint Ashley as CEO of Boohoo and Mike Lennon as a director, urging shareholders to vote for the move.
The proposal followed Boohoo’s announcement on Oct. 18 that CEO John Lyttle was planning to step down and that its board was starting a strategic business review in a bid boost shareholder value.
Boohoo said later that it had received the proposals from Frasers and was reviewing them, while asking shareholders to take no action.
The London-listed group—which includes brands such as department stores Debenhams and Karen Millen in its portfolio—said Friday that current Lyttle will remain available to ensure continuity through the change of leadership and a smooth transition.
Finley joined Boohoo as CEO of Debenhams in January 2022, following the 55 million-pound ($70.9 million) acquisition of the brand from administration.
Frasers didn’t immediately comment when approached by Dow Jones Newswires.
In morning trading, London-listed shares were in Boohoo were up 4.6% at 30.98 pence. Year-to-date, shares have fallen 25%.