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Defense stocks rally after AeroVironment delivers record quarterly performance (UMAC)
Sector advances as AeroVironment beats expectations Shares of Unusual Machines (AMEX:UMAC), Kratos Defense & Security (NASDAQ:KTOS) and Vishay Precision Group (NYSE:VPG) moved higher on Tuesday as investors reacted to stronger-than-expected results from industry peer AeroVironment (NASDAQ:AVAV). Kratos Defense & Security gained 8%, while Vishay Precision Group advanced 5%. The broader rally followed a 32% jump…
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QXO shares rise after TopBuild merger election results released (QXO)
Most TopBuild shareholders opt for cash component QXO, Inc. (NYSE:QXO) shares climbed 8% on Tuesday after the company announced the preliminary election results for shareholders of TopBuild Corp. (NYSE:BLD) ahead of the completion of their merger. The companies said shareholders representing approximately 91.0% of TopBuild’s outstanding shares elected to receive the cash consideration available under…
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Semiconductor stocks climb to record 19.7% of the S&P 500 as AI rally reshapes the index
Chipmakers reach unprecedented share of the benchmark Semiconductor companies now account for a record 19.7% of the S&P 500, almost four times their weighting of around 5% in June 2020, according to Citadel Securities strategist Scott Rubner. The sector’s influence has grown well beyond previous market peaks. Before the dotcom crash, semiconductor stocks represented just…
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Guardian Metal Advances Toward Becoming a Key U.S. Tungsten Producer Following Strong Pilot Mountain PFS
Guardian Metal Resources (AMEX:GMTL), (USOTC: GMTLF), (LSE:GMET) has reached an important development milestone with the release of the Pre-Feasibility Study (PFS) for its Pilot Mountain Tungsten Project in Nevada. The results reinforce the project’s potential to become a significant domestic source of tungsten at a time when the United States is seeking to strengthen critical…
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Sinda completes $213 million NYSE IPO to support Mexican silver projects (SIND)
Silver explorer begins trading on the NYSE Sinda Ltd. (NYSE:SIND), a silver exploration and development company focused on Mexico, has completed its initial public offering, raising approximately $213 million in gross proceeds before underwriting discounts, commissions and other offering-related expenses. The company sold 17,750,000 common shares at a public offering price of $12.00 each. Its…
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Logitech shares fall after Bank of America cuts rating and lowers price target (LOGI)
BofA sees weaker demand ahead for consumer peripherals Bank of America has downgraded Logitech (NASDAQ:LOGI) to Underperform from Neutral while reducing its price target by 18% to CHF70/$86 from CHF85/$108, citing expectations that demand for the company’s products will weaken significantly over the next 12 to 18 months as higher hardware prices weigh on consumer…
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Idaho Copper files for NYSE American listing alongside proposed public offering (ECO)
Planned move to a national exchange Idaho Copper Corporation (USOTC:COPR) has submitted an application to list its common stock on the NYSE American exchange under the ticker symbol COPR, marking a planned transition from the OTC Pink Limited Market. The company also announced plans for a firm commitment public offering involving 2,793,300 common shares at…
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Jeep to expand European range to six models by 2030 with China-built SUV (STLAM)
Stellantis (NYSE:STLA) plans to significantly broaden Jeep’s European portfolio by the end of the decade, with the brand targeting a six-model lineup by 2030. The expansion will include a new large SUV developed with Chinese partner Dongfeng, alongside two additional compact SUVs, as the automaker strengthens its electrified offering across Europe. Electrification remains central to…
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Oil prices ease as prospects for U.S.-Iran talks reduce supply fears
Oil prices edged lower on Tuesday as investors assessed the possibility of renewed diplomatic talks between the United States and Iran while continuing to monitor supply risks following the latest military tensions between the two countries. At 04:56 ET (08:56 GMT), Brent crude futures, the international benchmark, fell 0.6% to US$72.69 a barrel, while West…
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Gold set for steepest quarterly decline since 2013 as rate expectations weigh
Gold prices remained under pressure on Tuesday and were heading for their largest quarterly decline in more than a decade, as persistent inflation concerns and expectations of further interest rate increases continued to reduce demand for the precious metal. Spot gold edged up 0.1% to US$4,197.54 an ounce at 05:48 ET (09:48 GMT), while gold…