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Aeva Technologies Launches $100 Million Follow-on Public Offering, Shares Fall After-Hours

Aeva Technologies (AEVA) said late Wednesday it launched a follow-on public offering of $100 million of its common stock.Underwriters will have a 30-day option to buy up to an additional $15 million of the company's shares, according to a statement.The company said it intends to use the net proceeds for general corporate purposes, including meeting commercial interest in AI infrastructure and Co-Packaged Optics, along with demand for its existing applications.Shares fell more than 9% in after-hours trading.

$AEVA

Wire26d ago

Stoneridge Names Scott Humphrey as CFO

Stoneridge (SRI) said late Wednesday it has appointed Scott Humphrey as chief financial officer and treasurer, starting June 8.From 2020 to 2023, Humphrey served as CFO and treasurer of Fox Factory (FOXF), a regulatory filing shows. From 2023 until joining the company, Humphrey was not employed as he focused on personal matters and professional development, Stoneridge said in the filing.Bob Hartman, who has served as interim CFO since April 1, will continue in his role as chief accounting officer, Stoneridge added.

$FOXF$SRI

Wire26d ago

W. R. Berkley Declares Special Dividend, Raises Share Repurchase Authorization

W. R. Berkley (WRB) said Wednesday its board has increased the share repurchase authorization back to its prior level of 25 million shares of common stock.Repurchases may be made in the open market or in privately negotiated transactions, the company said.The company declared a special cash dividend on its common stock of $0.50 per share and also increased its regular quarterly dividend to $0.10 from $0.09, both payable July 2 to stockholders of record on June 23.

$WRB

Wire26d ago

Intrepid Potash Boosts Share Repurchase Program

Intrepid Potash (IPI) said late Wednesday its board authorized the increase of its existing share repurchase program to $50 million from $35 million initially.The buyback boost is part of the company's capital allocation strategy, according to a statement.The original authorization has approximately $13 million remaining, the company said.

$IPI

Wire26d ago

C3.ai Fiscal Q4 Adjusted Loss Widens, Revenue Falls; Q1 Guidance Set

C3.ai (AI) reported Wednesday fiscal Q4 adjusted loss of $0.33 per diluted share, compared with a loss of $0.16 a year earlier.Analysts polled by FactSet expected loss of $0.37.Revenue for the quarter ended April 30 was $51.6 million, down from $108.7 million a year ago. Analysts expected $51.6 million.For fiscal Q1, the company expects revenue of $50 million to $54 million. Analysts expect $51.7 million.The company expects fiscal 2027 revenue of $210 million to $240 million. Analysts expect $224.7 million.

$AI

Wire26d ago

PVH Fiscal Q1 Non-GAAP Earnings Fall, Revenue Rises; Shares Slump After Hours

PVH (PVH) reported fiscal Q1 non-GAAP net income late Wednesday of $2.01 per diluted share, down from $2.30 a year earlier.Analysts polled by FactSet expected $1.82.Revenue in the three months ended May 3 rose to $2.03 billion from $1.98 billion a year earlier.Analysts expected $2 billion.The company affirmed full-year non-GAAP EPS guidance of $11.80 to $12.10 and expects flat revenue compared with the prior forecast of a slight increase. Analysts expect EPS of $12.10 on revenue of $9.02 billion.PVH shares slumped 13% in after-hours trading.

$PVH

Wire26d ago

Five Below Fiscal Q1 Adjusted Earnings, Revenue Rise; Shares Fall After Hours

Five Below (FIVE) reported fiscal Q1 adjusted earnings late Wednesday of $2.22 per diluted share, up from $0.86 a year earlier.Analysts polled by FactSet expected $1.77.Revenue in the three months ended May 2 rose to $1.29 billion from $970.5 million a year earlier.Analysts expected $1.23 billion.The company expects fiscal Q2 adjusted EPS of $1.17 to $1.29 on revenue of $1.18 billion to $1.2 billion. Analysts expect EPS of $1.13 on revenue of $1.15 billion.The company raised fiscal 2026 guidance to adjusted EPS of $8.65 to $9.05 on revenue of $5.4 billion to $5.48 billion. The prior forecast was EPS of $7.74 to $8.25 on revenue of $5.2 billion to $5.3 billion.Analysts expect EPS of $8.34 on revenue of $5.37 billion.Five Below shares fell 6.2% in after-hours trading.

$FIVE

Wire26d ago

3D Systems Launches Offering of Common Shares

3D Systems (DDD) said late Wednesday it launched a public offering of $40 million of its common shares.The company will grant the underwriters an overallotment option to buy up to an additional 15% of the shares offered, according to a statement.

$DDD

Wire26d ago

CrowdStrike Fiscal Q1 Adjusted Earnings, Revenue Rise; Q2 Guidance Set

CrowdStrike (CRWD) reported fiscal Q1 adjusted earnings late Wednesday of $1.10 per diluted share, up from $0.73 a year earlier.Analysts polled by FactSet expected $1.07.Revenue for the three months ended April 30 was $1.39 billion, up from $1.10 billion a year earlier.Analysts surveyed by FactSet expected $1.36 billion.For fiscal Q2, the company expects adjusted EPS of $1.16 to $1.17 on revenue of $1.436 billion to $1.442 billion. Analysts expect EPS of $1.16 on revenue of $1.43 billion.For the full-year fiscal 2027, the company now expects adjusted EPS of $4.88 to $4.96 on revenue of $5.91 billion to $5.96 billion. It earlier expected adjusted EPS of $4.78 to $4.90 on revenue of $5.87 billion to $5.93 billion.Analysts expect EPS of $4.87 on revenue of $5.90 billion.CrowdStrike also said its board has declared a four-for-one split of its Class A common stock in the form of a stock dividend.

$CRWD

Wire26d ago

Top Cryptocurrencies Fall; Bitcoin Drops Below $66,000

Top cryptocurrencies fell Wednesday, with Bitcoin (BTC-USD) dropping below $66,000.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell almost 2.6% in the past 24 hours. The Nasdaq 100 fell 0.2%, the S&P 500 decreased 0.7%, and the Dow Jones Industrial Average was down 1%.Bitcoin dropped 2.7% to $65,290, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume dropped 2% to $48.59 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, fell 5.7% to $1,799.XRP (XRP-USD) declined 1.6%, BNB (BNB-USD) fell 5.6%, and Solana (SOL-USD) shed 4.7%. Dogecoin (DOGE-USD) dropped 2.4%, and Cardano (ADA-USD) lost 5%.The total market value of the cryptocurrency industry fell 1.7% in the past 24 hours to $2.28 trillion, with trading volume rising 7% to $125.53 billion.Price: $65210.61, Change: $-1457.00, Percent Change: -2.19%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD

Wire26d ago

Medtronic Q4 Organic Revenue Beat Driven by Cardiovascular, Medical Surgical Strength, Truist Says

Medtronic (MDT) reported fiscal Q4 organic revenue growth ahead of expectations amid strength in its Cardiovascular and Medical Surgical businesses, Truist Securities said in a note Wednesday.The brokerage said Medtronic posted 6.5% organic revenue growth excluding Diabetes and Other that topped consensus estimates. Cardiovascular and Medical Surgical revenue exceeded expectations.Truist noted that gross margin and operating margin were below expectations and elevated selling, general and administrative expenses weighed on profitability. Adjusted earnings per share of $1.55 exceeded estimates by $0.01 due to foreign exchange and non-operating items, according to the note.The brokerage said Medtronic's fiscal 2027 guidance for 6.75% to 7.25% organic revenue growth is broadly in line with expectations after adjusting for the benefit of an extra selling week.Guidance includes contributions from the Diabetes business, incorporates about $250 million of tariff-related costs, and does not assume any benefit from share repurchases related to the planned Diabetes spin-off.Truist maintained its hold rating and $95 price target on Medtronic.Shares of Medtronic were up 5.5% in Wednesday trading.Price: $77.79, Change: $+4.04, Percent Change: +5.48%

$MDT

Wire26d ago

Market Chatter: Adobe Considers Two Internal Candidates, Explores AI Outsiders for CEO Position

Adobe (ADBE) is eyeing two internal candidates and has also tapped a well-known search firm to find external candidates with experience in artificial intelligence products, as it looks to find a new chief executive, Bloomberg reported Wednesday, citing people with knowledge of the process.David Wadhwani and Anil Chakravarthy, the heads of Adobe's two main businesses, are the company's leading internal candidates for the CEO position, the report said, adding that Adobe has also hired Heidrick & Struggles International to find an AI-friendly executive.Additionally, Adobe had talks with Microsoft (MSFT) executive vice president Charles Lamanna for the role, but the process didn't continue, the media outlet reported, citing another person familiar with the process.Adobe didn't immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $255.88, Change: $-6.23, Percent Change: -2.38%

$ADBE$MSFT

Wire26d ago

Acadia Healthcare Shares Rise After Upgrade From Jefferies

Acadia Healthcare's (ACHC) shares were up more than 5% in Wednesday trading after Jefferies upgraded the company's stock to buy from hold and raised its price target to $30 from $24.50.Trading volume stood at over 1.4 million shares against a daily average of roughly 3 million.Price: $25.71, Change: $+1.29, Percent Change: +5.26%

$ACHC

Wire26d ago

ProAssurance Shares Rise After Saying It Expects Doctors Company Merger to Close by June 30

ProAssurance (PRA) shares were up 1.9% in Wednesday afternoon trading, a day after the company said it continues to expect its merger with The Doctors Company to close by June 30, as the transaction awaits final regulatory approval in California.The timing of the California review remains uncertain and is outside its control, ProAssurance said in a late Tuesday filing.As of Tuesday, The Doctors Company had received final approval from insurance regulators in Alabama, the District of Columbia, Illinois, Missouri, Pennsylvania, Texas and Vermont, according to the filing.ProAssurance said it also secured approvals from Lloyd's of London and the Cayman Islands Monetary Authority for certain subsidiaries involved in the transaction.Price: $24.45, Change: $+0.47, Percent Change: +1.94%

$PRA

Wire26d ago

Thermo Fisher Scientific Shares Fall After HSBC Downgrade

Thermo Fisher Scientific (TMO) shares fall 1.6% in Wednesday trading after HSBC downgraded the stock to hold from buy and lowered its price target to $540 From $670.Trading volume stood at about 1 million shares against daily average of 2.3 million.Price: $474.42, Change: $-7.66, Percent Change: -1.59%

$TMO

Wire26d ago

Market Chatter: JinkoSolar Plans to Enter Data Center Business

JinkoSolar (JKS) will enter the data center business, supplying power directly from its plants to meet the growing demand from the spread of artificial intelligence, Nikkei Asia reported Wednesday.In April, the local government and Jinko Power Technology planned to build a 24.5 billion yuan ($3.6 billion) data center in the desert city of Zhongwei, according to the report.Construction of the 1 gigawatt data center, spanning over 530,000 square meters, is set to begin this year, with completion forecasted by 2028, the report added.JinkoSolar did not immediately respond to a request for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $22.59, Change: $-0.13, Percent Change: -0.59%

$JKS

Wire26d ago

Rio Tinto Shares Fall After RBC Downgrade

Rio Tinto (RIO) shares were down over 3% in Wednesday trading after RBC Capital Markets downgraded the stock to underperform from sector perform.Trading volume stood at more than 1.9 million shares, compared with a daily average of close to 2.8 million.Price: $108.09, Change: $-3.59, Percent Change: -3.21%

$RIO

Wire26d ago

Nu Holdings Shares Fall After Susquehanna Downgrade

Nu Holdings (NU) shares fall 4% in Wednesday trading after Susquehanna downgraded the stock to neutral from positive and lowered its price target to $13 from $18.Trading volume stood at more than 80.6 million shares against daily average of about 52.5 million.Price: $11.46, Change: $-0.47, Percent Change: -3.94%

$NU

Wire26d ago

Top Midday Decliners

Cognyte Software (CGNT) shares sank 22% after the company reported a year-over-year slump in fiscal Q1 non-GAAP earnings on Wednesday, taking the shine out of sales growth.More than 2.26 million shares of the company traded intraday compared with a daily average of about 579,000.CID HoldCo (DAIC), which does business as Dot Ai, is exploring a range of strategic alternatives, including, but not limited to, a sale of the company, a merger or other business combination, a strategic partnership or joint venture, licensing arrangements, or a liquidation and dissolution.Shares slumped 17% as intraday trading volume increased to over 351,000 from a daily average of about 93,000.Susquehanna adjusted its price target for Global Payments (GPN) shares to $111 from $119 while maintaining its positive rating.Shares of Global Payments traded 8% lower, with intraday trading volume rising to over 7.68 million from a daily average of roughly 3.32 million.Price: $68.01, Change: $-6.02, Percent Change: -8.13%

$CGNT$DAIC$GPN

Wire26d ago

Novartis Says Cosentyx Shows Sustained Remission in Phase 3 Trial

Novartis (NVS) said Wednesday new Cosentyx data from a late-stage trial in polymyalgia rheumatica showed a statistically significant, clinically meaningful difference in sustained remission rates against placebo and significant steroid sparing.The effect of Cosentyx treatment was sustained through week 52, the company said, adding that the trial met all primary and secondary endpoints, and no new safety signals were identified.Novartis said it has submitted Cosentyx for regulatory review in the US, EU, and Japan, with other filings expected to follow throughout 2026, it added.Separately, Novartis Canada said it has reached an agreement with the pan-Canadian Pharmaceutical Alliance for the public reimbursement of Scemblix for adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in the chronic phase.Price: $143.53, Change: $+0.05, Percent Change: +0.03%

$NVS

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