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Leslie’s Chapter 11 Restructuring Targets 90% Debt Reduction and $150 Million in New Capital
The pool and spa retailer has entered a lender-backed restructuring that would cut about $685 million of funded debt, bring in new financing and shift majority ownership to existing lenders. Key Investor Takeaways Why LESL Stock Is in Focus Leslie’s has initiated a prearranged Chapter 11 restructuring designed to reduce its debt burden, secure additional…
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CoreWeave Launches Partner Network for AI Cloud Integrations
CoreWeave Inc. (NASDAQ:CRWV) announced the launch of the CoreWeave Partner Network, bringing together technology partners whose integrations have been tested on the CoreWeave Cloud platform under production conditions. The network was unveiled at Fully Connected, CoreWeave’s AI cloud conference, which attracted more than 4,500 attendees. CoreWeave said the programme consolidates existing collaborations with companies including…
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Sagimet Biosciences Shares Rise 12% After Denifanstat Phase 3 Acne Trial Data
Sagimet Biosciences Inc Series A (NASDAQ:SGMT) shares rose more than 12% in pre-market trading on Wednesday following the release of 52-week results from license partner Ascletis’ Phase 3 open-label extension trial evaluating denifanstat in patients with moderate to severe acne. The trial reported a 57% treatment success rate after 52 weeks of denifanstat treatment, alongside…
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Synopsys and Amazon Sign Multi-Year Silicon IP Agreement Valued at More Than $1 Billion
Synopsys, Inc. (NASDAQ:SNPS) announced a multi-year agreement with Amazon (NASDAQ:AMZN) valued at more than $1 billion, covering silicon intellectual property and engineering software for Amazon’s custom chip development. Under the agreement, Amazon will become the lead customer for Synopsys’ application-optimized silicon IP business. The arrangement expands a collaboration between the companies that has lasted for…
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Rafael Holdings Shares Fall 25% After Trappsol Cyclo Phase 3 Trial Misses Primary Endpoint
Rafael Holdings Inc Class B (NYSE:RFL) shares fell 25% in pre-market trading on Wednesday after the company’s Phase 3 TransportNPC trial of Trappsol Cyclo in patients with Niemann-Pick Disease Type C (NPC) failed to meet its primary endpoint. The study enrolled 94 patients and evaluated the change from baseline in the 4-domain NPC Clinical Severity…
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Mattel Shares Fall 3% as Roger Lynch Is Named CEO to Succeed Ynon Kreiz
Mattel Inc (NASDAQ:MAT) shares fell 3% in pre-market trading on Wednesday after the toy company announced that Chief Executive Officer Ynon Kreiz will step down to take a senior leadership position at another publicly traded company. Mattel appointed long-standing board member and Independent Lead Director Roger Lynch as Chairman and Chief Executive Officer. Lynch currently…
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Oracle Shares Fall 1.8% After Report Flags Potential Wisconsin AI Data Centre Delays
Oracle Corp. (NYSE:ORCL) shares fell 1.8% on Wednesday after infrastructure data provider Aterio reported that the company’s planned artificial intelligence data centre campus in Wisconsin could face delays related to its connection to the regional electricity grid. The reported delays have not been confirmed by Oracle. The company did not immediately respond to requests for…
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U.S. Private-Sector Employment Rises by 90,000 in September, Above Forecast
U.S. private-sector employment increased by more than expected in September, according to data released by payroll processor ADP on Wednesday. Private employers added 90,000 jobs during the month, exceeding economists’ forecast for an increase of 70,000. The latest figures also showed an acceleration in job creation compared with August. August Employment Growth Revised Lower ADP…
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U.S. GDP Growth Reaches 2.2%, Above 1.5% Forecast
The U.S. economy expanded at an annualised rate of 2.2% in the latest GDP estimate, exceeding economists’ forecast for growth of 1.5%. The latest figure was also slightly higher than the 2.1% growth recorded in the previous estimate, providing an updated measure of economic activity in the United States. Gross domestic product measures the inflation-adjusted…
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U.S. Core PCE Inflation Rises 0.2% in August, Below Forecast
U.S. core personal consumption expenditures inflation increased 0.2% month on month in August, coming in below economists’ expectations for a 0.3% rise. Data from the Bureau of Economic Analysis showed the core PCE price index, which excludes food and energy, accelerated from a 0.1% monthly increase in July. The latest reading provides another measure of…