Category: Latest News
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Seagate Technology Hits Record High, Driven by Bullish Analyst Sentiment and Solid Growth Outlook
Seagate Technology (NASDAQ:STX) shares surged to a historic high of $132.24, marking a milestone for the data storage leader. With a year-to-date gain of 53%, the company’s market capitalization now approaches $28 billion, underscoring growing investor confidence and favorable market dynamics. Over the last 12 months, Seagate stock has climbed 24.29%, bolstered by a 36%…
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Red Cat Shares Slide After Announcing $46.75M Stock Offering
Shares of Red Cat Holdings Inc. (NASDAQ:RCAT) dropped 18.4% on Monday after the drone technology company revealed plans to raise nearly $47 million through a direct offering of its common stock. According to the announcement, Red Cat has entered into agreements with institutional investors to sell 6,448,276 shares. The transaction, expected to close around June…
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Enphase Energy Shares Slide to 52-Week Low Amid Sector Headwinds
Enphase Energy Inc. (NASDAQ:ENPH) hit a new 52-week low of $36.15, underscoring ongoing weakness in the renewable energy space. The stock, which now carries a market capitalization of approximately $6.03 billion and a beta of 1.7, continues to exhibit elevated volatility. The milestone reflects a sharp downturn for the solar technology company, which has seen…
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iPower Stock Surges on Pivot to Bitcoin and Blockchain Services
Shares of iPower Inc. (NASDAQ:IPW) jumped 9.3% following the company’s announcement of a significant strategic transformation aimed at aligning its business with the fast-growing world of digital assets. The tech-focused eCommerce and supply chain firm revealed that it will begin accumulating Bitcoin as part of a newly adopted treasury strategy. Approved by the board, the…
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JetBlue Shares Drop as CEO Flags More Cost Cuts and Flight Reductions
JetBlue Airways (NASDAQ:JBLU) saw its stock decline by 5% on Tuesday after a leaked internal memo revealed that CEO Joanna Geraghty warned employees of further cost-cutting steps amid persistent weakness in travel demand. In a staff message dated Monday and reviewed by CNBC, Geraghty acknowledged that the airline continues to operate using borrowed funds and…
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Wells Fargo Predicts Tesla’s Free Cash Flow to Decline, Deliveries to Drop 20% Year-on-Year
Tesla is showing signs of weakening fundamentals, with Wells Fargo analysts projecting that the company’s free cash flow (FCF) could turn negative for the first time since 2018. In a note released Tuesday, the analysts maintained their Underweight rating on Tesla stock and a price target of $120. The report highlighted expectations for a significant…
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U.S. Retail Sales Down More Than Expected In May
The Commerce Department released a report on Tuesday showing U.S. retail sales decreased by more than expected in the month of May. The report said retail sales slid by 0.9 percent in May after edging down by a revised 0.1 percent in April. Economists had expected retail sales to decline by 0.6 percent compared to…
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Dow Jones, S&P, Nasdaq, Renewed Israel-Iran Concerns May Lead To Pullback On Wall Street
The major U.S. index futures on the Dow Jones, S&P and Nasdaq are currently pointing to a lower open on Tuesday, with stocks likely to move back to the downside following the rebound seen in the previous session. Traders may look to cash in on yesterday’s strong gains amid renewed concerns about the ongoing clash…
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Redwire Shares Drop Sharply Following Pricing of Enlarged Public Offering
Redwire Corp (NYSE:RDW) saw its stock decline 17.5% after the aerospace and defense tech firm announced pricing for its upsized common stock offering at $16.75 per share. The company plans to issue 15.5 million shares, aiming to raise roughly $260 million in gross proceeds. Additionally, underwriters have been granted a 30-day option to buy up…
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Fold Holdings Shares Rise After Securing $250 Million Equity Facility for Bitcoin Expansion
Fold Holdings, Inc. (NASDAQ:FLD) saw its stock spike as much as 21% before settling up 4%, after announcing a major equity facility aimed at bolstering its bitcoin reserves. The company, which positions itself as the first publicly listed financial services provider focused on bitcoin, has arranged a $250 million equity purchase facility to support its…