2022-06-09 11:17:02 Y Alleghany
Berkshire Hathaway
06/09/22 06/0911:17 06/09/2211:17 | Alleghany stockholders approve acquisition by Berkshire HathawayAlleghany Corporation announced that its stockholders voted to approve and adopt the Agreement and Plan of Merger, dated as of March 20, 2022, pursuant to which Alleghany will be acquired by Berkshire Hathaway for $848.02 per share of common stock in cash. During the special meeting of stockholders held today, approximately 84% of Alleghany's outstanding common shares, and more than 98% of the votes cast, voted in favor of the merger proposal. The final voting results at the special meeting will be set forth in a Current Report on Form 8-K to be filed by Alleghany with the U.S. Securities and Exchange Commission. In addition to the approval today by Alleghany stockholders, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired in early May. The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions and regulatory approvals. Alleghany
Berkshire Hathaway
Berkshire Hathaway
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MSC Industrial downgraded to Market Perform from Outperform at William Blair »
21:16 06/29/22 06/2921:16 06/29/2221:16
MSM
MSC Industrial
William Blair analyst… William Blair analyst Ryan Merkel downgraded MSC Industrial to Market Perform from Outperform without a price target following the company's Q3 results. The analyst cites the slowing industrial economy and gross margin concerns the downgrade. ShowHide Related Items >><<
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Salesforce CEO sells $53M in common stock »
20:27 06/29/22 06/2920:27 06/29/2220:27
CRM
Salesforce
In a regulatory filing,… In a regulatory filing, Salesforce disclosed that its co-CEO Marc Benioff sold 302K shares of common stock on June 28th in a total transaction size of $53.0M as part of option exercise. ShowHide Related Items >><<
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Earnings
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Notable companies reporting before tomorrow's open »
20:25 06/29/22 06/2920:25 06/29/2220:25
STZ
Constellation Brands
Constellation Brands; also tag STZ
Walgreens Boots Alliance
Acuity Brands
Notable companies… Notable companies reporting before tomorrow's open, with earnings consensus, include Constellation Brands (STZ), consensus $2.53... Walgreens Boots Alliance (WBA), consensus 92c... Acuity Brands (AYI), consensus $2.96. ShowHide Related Items >><<
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Cathie Wood's ARK Investment bought 1.57M shares of Ginkgo Bioworks today
20:16 06/29/22 06/2920:16 06/29/2220:16
DNA
Ginkgo Bioworks
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Oracle exec sells $48.9M in common stock »
20:06 06/29/22 06/2920:06 06/29/2220:06
ORCL
Oracle
In a regulatory filing,… In a regulatory filing, Oracle disclosed that its Chief Corporate Architect Edward Screven sold 700K shares of common stock on June 28th in a total transaction size of $48.9M as part of option exercise. ShowHide Related Items >><<
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Tesla exec sells $2.62M in common stock »
20:03 06/29/22 06/2920:03 06/29/2220:03
TSLA
Tesla
In a regulatory filing,… In a regulatory filing, Tesla disclosed that its Powertrain SVP Andrew Baglino sold 3.5K shares of common stock on June 27th in a total transaction size of $2.62M as part of option exercize. ShowHide Related Items >><<
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Syndicate
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Aspen Aerogels will not proceed with offering of stock and convertible debt »
19:32 06/29/22 06/2919:32 06/29/2219:32
ASPN
Aspen Aerogels
Aspen Aerogels… Aspen Aerogels "announced that it has decided not to proceed with the concurrent public offerings of its common stock and its green convertible senior notes due 2027 previously announced on June 28, 2022. The decision not to proceed with the concurrent offerings results from an assessment by the Company that current market conditions are not conducive for the offerings on terms that would be in the best interests of Aspen's shareholders. As a result of this decision, no shares of common stock or Notes will be sold pursuant to the concurrent offerings." ShowHide Related Items >><<
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Periodicals
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Unity lays off hundreds of workers, Kotaku reports »
19:19 06/29/22 06/2919:19 06/29/2219:19
U
Unity Software
Unity has recently laid… Unity has recently laid off hundreds of workers, Kotaku's Ari Notis reports, citing multiple sources. The workforce reductions have affected the company's offices worldwide, with "pretty much every corner" of the company taking "some sort of hit," with a particular concentration in the AI and engineering departments, Notis says. Reference Link ShowHide Related Items >><<
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Earnings
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Kewaunee Scientific reports Q4 EPS (13c) vs. ($1.08) last year »
19:15 06/29/22 06/2919:15 06/29/2219:15
KEQU
Kewaunee Scientific
Reports Q4 revenue $49.7M… Reports Q4 revenue $49.7M vs. $38.7M last year. CEO Thomas D. Hull says: "Kewaunee delivered strong financial results during the fourth quarter of fiscal year 2022, responding to accelerating demand as construction activity continued to recover from COVID-19 lows. Demand in the international markets remains strong, with an increasing rate of activity being felt in the ASEAN and Middle East markets, complementing what continues to be a strong Indian market. Demand across the United States was especially strong in the fourth quarter, with all our major geographies being extremely active. Profitability improved domestically during the fourth quarter based on higher manufacturing volumes as we continue to restore production capacity that was reduced due to the COVID-19 pandemic. Further, actions taken during the year to align pricing on new orders with rapidly inflating raw material inputs substantially mitigated the cost/price mismatch that we experienced during the previous four quarters. I am proud of how our Kewaunee Associates continue to work to serve our customers, overcoming numerous headwinds due to a historically tight labor market as well as managing through persistent supply chain challenges." ShowHide Related Items >><<
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Periodicals
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BP to help with U.S. staff travel costs for health services, Bloomberg says »
19:09 06/29/22 06/2919:09 06/29/2219:09
BP
BP
BP will help with travel… BP will help with travel expenses for U.S. workers who can't readily access health services, Bloomberg's Kevin Crowley reports. The move comes after the U.S. Supreme Court removed the constitutional right to abortion last Friday, Crowley notes. "We believe that all of our US employees are entitled to consistent and safe access to the benefits already covered by our health care plans," BP said in an emailed statement. "That's why BP has decided to assist with travel expenses for covered health care services that cannot be obtained near where an employee lives." Reference Link ShowHide Related Items >><<
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MediciNova announces extension of BARDA contract for MN-166 »
19:01 06/29/22 06/2919:01 06/29/2219:01
MNOV
MediciNova
MediciNova… MediciNova "announced a modification to its contract with the Biomedical Advanced Research and Development Authority part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services, to repurpose MN-166, or ibudilast, as a potential medical countermeasure against chlorine gas-induced lung damage such as acute respiratory distress syndrome and acute lung injury. The contract was amended to extend the period of performance until March 2023." ShowHide Related Items >><<
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Great Panther Mining enters into agreement to sell four mine projects in Mexico »
18:52 06/29/22 06/2918:52 06/29/2218:52
GPL
Great Panther Mining
Great Panther Mining has… Great Panther Mining has entered into a Share Purchase Agreement with Guanajuato Silver Company to sell 100% of the company's Mexican subsidiary Minera Mexicana El Rosario - MMR -, which holds the Guanajuato Mine Complex - GMC -, the Topia mine, and the El Horcon and Santa Rosa projects, all located in Mexico. GSilver will purchase MMR for a total upfront consideration of $14.7M plus up to $2M in additional payments, payable as follows: $8M cash payable on closing; a total of 25,787,200 common shares of GSilver valued at approximately $6.7M based on current trading prices; $500K upon producing 2.5 million ounces of silver from the GMC and Topia; $750K upon the price of silver closing at or above $27.50 per ounce over a 30-day period in the two years following the agreement; $750K upon the price of silver closing at or above $30.00 per ounce over a 30-day period in the two years following the agreement. In conjunction with closing, MMR will repay the balance outstanding of the Samsung lead concentrate prepayment facility, and accordingly Samsung will release the pledge of MMR shares associated with this facility. Closing of the agreement, expected in Q3, is subject to satisfaction of certain conditions including receipt of all requisite third-party and regulatory approvals. ShowHide Related Items >><<
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On The Fly
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Fly Intel: After-Hours Movers »
18:48 06/29/22 06/2918:48 06/29/2218:48
POWW
AMMO
MillerKnoll
Franklin Covey
Avid Bioservices
Adagene
Avadel Pharmaceuticals
Figs
SGH
Duck Creek Technologies
Culp, Inc.
RH
Williams-Sonoma
National Beverage
Cytokinetics
Angion Biomedica
Check out this evening's… ShowHide Related Items >><<
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Spirit Airlines intends to open, immediately adjourn Special Meeting of holders »
18:28 06/29/22 06/2918:28 06/29/2218:28
SAVE
Spirit Airlines
Frontier Group
JetBlue
Spirit Airlines (SAVE)… Spirit Airlines (SAVE) announced that it intends to open and immediately adjourn its Special Meeting of Stockholders relating to the proposed merger agreement with Frontier Group Holdings (ULCC), parent company of Frontier Airlines, to allow the Spirit Board of Directors to continue discussions with Frontier and JetBlue Airways (JBLU) and to continue to solicit proxies from its stockholders with respect to the Special Meeting. There will be no voting or other matters conducted at the meeting on June 30, and the company intends to reconvene the Special Meeting on July 8 at 11:00am ET. ShowHide Related Items >><<
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Periodicals
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Amazon moves to restrict LGBTQ-related products in UAE, NY Times says »
18:27 06/29/22 06/2918:27 06/29/2218:27
AMZN
Amazon.com
Amazon began restricting… Amazon began restricting items and search results related to LGBTQ people and issues on its platform in the United Arab Emirates this week following pressure from the country's government, the New York Times' Karen Weise reports, citing company documents. The Emirate government gave the ecommerce giant until Friday to cooperate under threat of penalties, though it is not clear what those penalties would be, the author says, noting that homosexuality is criminalized in the Emirates. Reference Link ShowHide Related Items >><<
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DOJ sues to block Booz Allen's proposed acquisition of EverWatch »
18:18 06/29/22 06/2918:18 06/29/2218:18
BAH
Booz Allen
The U.S. Department of… The U.S. Department of Justice filed a civil antitrust lawsuit to block Booz Allen Hamilton Holding Corporation's proposed acquisition of EverWatch Corp., a subsidiary of EC Defense Holdings LLC. The complaint, filed in the U.S. District Court for the District of Maryland, alleges that the merger agreement threatens imminent competition for a government contract to provide operational modeling and simulation services to the National Security Agency. Unless enjoined, the transaction would eliminate competition for this defense contract, leaving NSA to face a monopoly bidder. "Booz Allen's agreement to acquire EverWatch imperils competition in a market that is vital to our national security," said Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division. "Both the acquisition agreement and the underlying transaction violate federal antitrust law." ShowHide Related Items >><<
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Royalty Pharma director sells $1.27M in common stock »
18:15 06/29/22 06/2918:15 06/29/2218:15
RPRX
Royalty Pharma
In a regulatory filing,… In a regulatory filing, Royalty Pharma disclosed that its director Rory Riggs sold 30K shares of common stock on June 29th in a total transaction size of $1.27M. ShowHide Related Items >><<
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Snow Lake Resources receives shareholder meeting requisition »
18:09 06/29/22 06/2918:09 06/29/2218:09
LITM
Snow Lake Resources
Snow Lake Resources Ltd.,… Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd., announced that it has been provided with a shareholder meeting requisition notice dated June 8, 2022 from a number of registered shareholders holding, collectively as a group, approximately 5.4%of the issued and outstanding shares in the company. The group includes individuals and entities associated with Avrohom Mordechai Kimelman, of St Kilda East, Victoria, Australia, a former director of the company and former CEO and Director of Quantum Resources, which later changed its name to Nova Minerals Limited. The Requisition requests that the directors of the company call a meeting of the shareholders of the company for the purpose of (a) removing all of the directors of the company; (b) fixing the number of directors at six for the ensuing year; and (c) electing six nominee directors of the Kimelman Group. The company has reviewed the Requisition with its professional advisors and announces today that its Board of Directors has called a special meeting of shareholders to be held in conjunction with its annual meeting of shareholders on or about the 15th day of December, 2022 to consider the matters, among other business, raised by the Requisition. Shareholders will receive formal notice of the meeting and an information circular in sufficient time to consider all matters. In the meantime, there is currently no need for shareholders to take any action. ShowHide Related Items >><<
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Periodicals
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VW CFO tells Reuters EV battery production presents EU challenge »
17:51 06/29/22 06/2917:51 06/29/2217:51
VWAGY
Volkswagen
Volkswagen CFO Arno… Volkswagen CFO Arno Antlitz told Reuters in an interview at the Reuters Automotive Europe conference that the EU deal to phase out combustion engine cars in just over 12 years presents a challenge, but a greater obstacle will be producing enough batteries to power electric vehicles required as a result. "It's a challenging goal. We think it's doable," Antlitz said. "The most challenging topic is not ramping up the car plants. The most challenging topic will be ramping up the battery supply chain." Reference Link ShowHide Related Items >><<
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Recommendations
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Patterson Companies price target raised to $42 from $41 at Piper Sandler »
17:48 06/29/22 06/2917:48 06/29/2217:48
PDCO
Patterson Companies
Piper Sandler analyst… Piper Sandler analyst Jason Bednar raised the firm's price target on Patterson Companies to $42 from $41 and keeps an Overweight rating on the shares. The analyst said that the company reported a "clean" earnings beat for Q4, with further margin upside appearing to be "likely." Bednar added that the ever-growing track record of consistent execution against company objectives is what keeps him positive on the stock and a buyer of shares even after today's "nice" move higher. ShowHide Related Items >><<
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Periodicals
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Nexstar near to closing deal to acquire majority control of CW Network, WSJ says »
17:40 06/29/22 06/2917:40 06/29/2217:40
NXST
Nexstar
Warner Bros. Discovery
Paramount
Local television stations… Local television stations owner Nexstar Media Group (NXST) is nearing in on an agreement to gain majority control of the CW Network from Warner Bros. Discovery (WBD) and Paramount Global (PARA ), said people familiar with the matter, according to Joe Flint of the Wall Street Journal. "Under the terms being discussed, Nexstar would acquire 75% of the CW, a broadcast network aimed primarily at teens and young adults, with Paramount and Warner Bros. Discovery each retaining 12.5% stakes," added the WSJ, citing its sources. Reference Link ShowHide Related Items >><<
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Initiation
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DA Davidson starts Amkor Technology at Buy amid industry strength, capacity ramp »
17:25 06/29/22 06/2917:25 06/29/2217:25
AMKR
Amkor Technology
DA Davidson analyst… DA Davidson analyst Thomas Diffely initiated coverage of Amkor Technology with a Buy rating and $30 price target. The company is the only major OSAT with scale that is not based in China and Taiwan, the analyst tells investors in a research note. Diffely adds that he is positive on the projected industry strength with robust wafer fab equipment and ramping capacities in Advanced Packaging. The analyst further note that Amkor Technology shares are trading at an "attractive" valuation of 6.4-times his 2022 EPS estimate. ShowHide Related Items >><<
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General Dynamics awarded $320.33M Army contract modification »
17:22 06/29/22 06/2917:22 06/29/2217:22
GD
General Dynamics
General Dynamics was… General Dynamics was awarded a $320.33M modification to a contract for low-rate initial production and system technical services for the Mobile Protected Firepower. Work has an estimated completion date of October 24, 2024. FY22 research, development, test and evaluation, Army funds in the amount of $31.31M were obligated at the time of the award. U.S. Army Contracting Command is the contracting activity. ShowHide Related Items >><<
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Syndicate
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Symbotic files to sell 554.98M shares of Class A common stock for holders
17:21 06/29/22 06/2917:21 06/29/2217:21
SYM
Symbotic
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Rocket Lab's Lunar Photon spacecraft completes third orbit raising maneuver »
17:17 06/29/22 06/2917:17 06/29/2217:17
RKLB
Rocket Lab
Rocket Lab… Rocket Lab "announced its Lunar Photon spacecraft has successfully completed the third of seven planned orbit raising maneuvers, bringing the CAPSTONE spacecraft closer to the Moon. The orbit raising maneuvers come after Rocket Lab successfully launched CAPSTONE to an initial parking orbit on June 28 with an Electron rocket from Launch Complex 1 in New Zealand. With Electron's role in the mission now complete, Lunar Photon has taken over the reins, providing power, communications and in-space transportation to CAPSTONE for the next five-day mission phase." ShowHide Related Items >><<
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