Tag: brokerswatch

United States Steel Corp. X, -1.30% shares rose about 1% in premarket trades, rebounding from an 8.6% loss in the previous session. The company said Thursday it expects third-quarter adjusted earnings of $1.90 a share to $1.95 a share. Analysts surveyed by FactSet currently expect earnings of $2.09 a share. “We expect to deliver a […]

Lavoro Ltd., a Brazil-based agricultural inputs retailer, will go public in the U.S. after agreeing to be acquired by special purpose acquisition company (SPAC) TPB Acquisition Corp. TPBA, +0.82% in a deal with an implied enterprise value of $1.2 billion. The deal it expected to close in the fourth quarter of 2022, with the new […]

Republic First Bancorp Inc. FRBK, +8.49% jumped 8% in premarket trades Thursday after the company said it’s initiating a strategic review in the wake of “inquiries by multiple parties expressing interest in one or more potential strategic transactions with the company. Republic First said it set up a strategic review committee to review the recent […]

Merrion Investment Management Co. said Thursday it opposes the proposed $8.4 billion buyout deal for Avalara Inc. AVLR, +0.06% at $93.50 a share. Merrio, which owns 31,925 shares of Avalara with a value of about $3 million, said the Aug. 8 deal is not necessary because the company “is perfectly capable of remaining independent and […]

Shares of Steel Dynamics Inc. STLD, +1.95% bounced 4.6% in premarket trading Thursday, after the steel producer and metals recycler provided a third-quarter profit outlook that was above expectations, citing “historically strong” steel operations. The upbeat outlook comes a day after the stock tumbled 9.0%, after fellow steel producer Nucor Corp. NUE, -2.63% issued a […]

Marqeta Inc. MQ, +5.34% announced Thursday that it has received board approval to buy back up to $100 million of its Class A shares. “The share repurchase program demonstrates the confidence our board and management team have in the strength of our business and future growth prospects,” Jason Gardner, the company’s chief executive, said in […]

Insurer Allstate Corp. ALL, +1.31% said Thursday it is planning “significant” rate actions in the second half of the year for car insurance as it struggles with inflationary pressures. In a regulatory filing, the company said it implemented rate increases of 14.5% across 8 regions in August, resulting in a premium impact of 3.2%. “We […]

Pfizer Inc. PFE, -0.09% on Thursday announced positive results from a late-stage trial of a meningococcal vaccine candidate called MenABCWY in adolescents and said it will submit an application for approval to the U.S. Food and Drug Administration in the fourth quarter. Meningococcal disease is a relatively rare but serious illness caused by a bacteria […]

Shares of Southwest Airlines Co. LUV, +1.44% rose 0.5% in premarket trading Thursday, after the air carrier said it was seeing “strong” revenue trends for the third quarter, boosted by better-than-anticipated leisure travel and “strong travel demand” for the Labor Day holiday weekend. The company revised its third-quarter revenue guidance to 9% to 11% growth […]

Ares Management Corp. ARES, +0.91% said Thursday it has gathered $3.7 billion of capital to invest exclusively in sports leagues and teams and sports-related franchises, as well as media and entertainment companies. The first Ares Sports, Media and Entertainment Finance (SME) fund is comprised of nearly $2.2 billion in equity commitments. Including anticipated leverage and […]