FINWIRES · TerminalLIVE
FINWIRES

Genco Shipping & Trading Urges Shareholders to Reject Diana Shipping's Takeover Proposal

By

Genco Shipping & Trading (GNK) said Friday it urged shareholders to reject Diana Shipping's (DSX) attempt to acquire the company on the cheap with an inadequately priced tender offer at $24.80 per share and a proxy fight to replace the Genco board with its nominees.

Genco said Diana's offer is at a discount to its liquidation value, but the board is open to meeting again if Diana submits a revised proposal reflecting the company's value.

The company also urged stockholders to vote "withhold" on Diana's nominees, according to a statement.

Diana Shipping did not immediately respond to a request for a comment from.

Price: $24.91, Change: $+0.82, Percent Change: +3.40%

Related Articles

Wire

Ainsworth Game Technology Chair Resigns; Shares Hit Over Eight-Year High

Ainsworth Game Technology (ASX:AGI) said that Non-Executive Chair Danny Gladstone has resigned with immediate effect following recent media reports concerning personal payments made to him more than eight years ago, according to a Friday filing with the Australian bourse.Gladstone said his resignation was intended to serve the company's best interests by allowing it to move beyond the distraction and focus on its strategic priorities, per the filing.Graeme Campbell has been appointed chair of the board, the filing added.The company's shares rose around 10% in recent Friday trade and earlier hit their highest level since April 2018.

$ASX:AGI
Wire

Wealthfront Fiscal Q1 Earnings Fall, Revenue Rises

Wealthfront (WLTH) reported fiscal Q1 earnings late Thursday of $0.07 per diluted share, down from $0.18 a year earlier.Analysts polled by FactSet expected EPS of $0.12.Revenue for the quarter ended April 30 was $90.5 million, up from $84.5 million a year earlier.Analysts expected $91.8 million.Shares of Wealthfront were down roughly 9% in after-hours activity.

$WLTH
Wire

Samsara Fiscal Q1 Non-GAAP Earnings, Revenue Rise; Shares Fall After Hours

Samsara (IOT) reported fiscal Q1 non-GAAP earnings late Thursday of $0.17 per diluted share, up from $0.11 a year earlier.Analysts polled by FactSet expected $0.13.Revenue in the three months ended May 2 rose to $478.8 million from $366.9 million a year earlier.Analysts expected $455.2 million.Samsara expects Q2 adjusted EPS of $0.15 to $0.16 on revenue of $482 million to $484 million.Analysts project EPS of $0.15 on revenue of $480.1 million.The company expects full-year adjusted EPS of $0.70 to $0.72 on revenue of $2.005 billion to $2.03 billion. Analysts project EPS of $0.68 on revenue of $1.97 billion.Samsara shares fell 3.2% in after-hours trading.

$IOT