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Chevron rally leaves limited upside after strong start to year
Shares of Chevron (NYSE:CVX) are up roughly 16% so far this year, driven largely by optimism around Venezuela and firmer oil prices rather than any meaningful shift in the company’s core fundamentals. Against that backdrop, HSBC downgraded Chevron to Hold from Buy, arguing that the recent rally has already captured much of the company’s strengths…
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Ondas shares gain after company agrees to acquire Rotron Aero
Shares of Ondas Inc. (NASDAQ:ONDS) rose about 2.8% on Monday after the company announced a definitive agreement to acquire Rotron Aero, a UK-based specialist in unmanned aerial systems and autonomous platforms. The acquisition is expected to enhance Ondas’ capabilities in defense and security markets by adding long-range unmanned aerial vehicles, autonomous strike platforms, and advanced…
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MoonLake shares jump after FDA Fast Track nod for PPP therapy
Shares of MoonLake Immunotherapeutics (NASDAQ:MLTX) climbed about 6.5% in premarket trading on Monday after the company said the U.S. Food and Drug Administration has granted Fast Track designation to sonelokimab (SLK) for the treatment of moderate-to-severe palmoplantar pustulosis (PPP). The Fast Track decision follows encouraging data from the Phase 2 LEDA study and comes alongside…
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iPower divests subsidiary for $2.3 million in bid to streamline costs
iPower Inc. (NASDAQ:IPW) said it has sold its subsidiary Global Product Marketing Inc. for roughly $2.3 million, a move aimed at lowering operating expenses as part of a broader restructuring effort. The company said the sale removes a significant cost burden tied to its online sales operations, while allowing iPower to keep control of its…
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Snowflake shares edge higher on $200 million OpenAI collaboration
Shares of Snowflake (NYSE:SNOW) rose about 2% on Monday after the AI Data Cloud group announced a $200 million, multi-year partnership with OpenAI aimed at bringing advanced AI model capabilities directly to enterprise customers. The agreement centers on co-innovation and joint go-to-market initiatives designed to accelerate the rollout of AI agents across global organizations. As…
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60 Degrees Pharmaceuticals shares slide after unveiling GoodRx collaboration
Shares of 60 Degrees Pharmaceuticals Inc (NASDAQ:SXTP) fell about 16.9% in premarket trading on Monday after the company announced a new partnership with GoodRx (NASDAQ:GDRX) aimed at expanding access to its malaria prevention treatment, ARAKODA. The deal will allow eligible consumers to receive discounts of up to 30% on ARAKODA (tafenoquine), which is currently the…
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VSE Corp shares ease as company launches $1 billion capital raise tied to acquisition
Shares of VSE Corp (NASDAQ:VSEC) slipped about 1.2% in light premarket trading on Monday to around $215.99 after the company unveiled plans to raise $1 billion in new capital to support a major acquisition. The Florida-based aviation services group said it is launching public offerings totaling $1 billion, made up of $650 million in common…
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Fusemachines shares skyrocket after announcing AI partnership with IBM-focused firm
Shares of Fusemachines Inc. (NASDAQ:FUSE) jumped more than 65% in premarket trading on Monday after the company revealed a strategic collaboration with ModulAIre, an IBM Platinum Partner, aimed at delivering enterprise-grade AI solutions within IBM-based technology environments. Under the agreement, Fusemachines’ AI Studio platform will be incorporated into ModulAIre’s broader AI and data offering. The…
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Hain Celestial shares surge after agreeing $115 million divestment of snacks unit
Shares of Hain Celestial (NASDAQ:HAIN) jumped roughly 12% to about $1.36 in premarket trading on Monday after the company said it will sell its North American snacks business. The organic and natural foods group has agreed to sell the unit to Snackruptors, a family-owned Canadian snacks producer, for $115 million in cash. Hain Celestial expects…
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Polestar shares advance on $400 million equity financing
Shares of Polestar Automotive Holding UK Plc (NASDAQ:PSNY) rose about 4.1% in premarket trading on Monday after the company disclosed a $400 million equity investment from two large financial institutions. The Swedish EV maker said the capital will be provided by Feathertop Funding Limited, a special purpose vehicle consolidated to Sumitomo Mitsui Banking Corporation and…