ADVFN US – Market Content Editor
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Snap Shares Gain After Company Sets Up Standalone Unit for AR Glasses
Snap Inc. (NYSE:SNAP) shares climbed about 4% on Wednesday after the social media group said it has formed a separate subsidiary focused on launching its upcoming augmented reality glasses, Specs. The newly created unit, Specs Inc., is intended to give Snap’s smart eyewear division greater autonomy, a structure likened by Bloomberg News to how Waymo…
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5E Advanced Materials Shares Slide After $30 Million Equity Offering Plan
Shares of 5E Advanced Materials Inc. (NASDAQ:FEAM) plunged 17.3% in premarket trading on Wednesday after the company disclosed plans to raise up to $30 million through a public offering of common stock. The specialty materials group has filed offering documents based on an indicative price of $3.44 per share, which reflects the most recent closing…
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CoStar Shares Advance After Company Pushes Back on Third Point Letter
CoStar Group (NASDAQ:CSGP) shares rose 2.7% after the real estate data and marketplace company responded publicly to criticism from activist investor Third Point LLC, reaffirming its strategy and outlining steps aimed at driving long-term profitable growth. The company rejected Third Point’s call to exit Homes.com, saying that such a move would weaken its competitive position.…
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Altimmune Shares Slide After $75 Million Registered Direct Offering
Altimmune Inc. (NASDAQ:ALT) shares dropped 6.2% in premarket trading on Wednesday after the biopharmaceutical company unveiled plans for a $75 million registered direct equity offering. The late-stage clinical developer said it will issue 17,045,454 shares of common stock, or pre-funded warrants in place of shares, to a new institutional investor. The transaction is expected to…
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Itron Shares Climb as Company Expands AI Partnership With Microsoft
Itron, Inc. (NASDAQ:ITRI) shares rose about 5% after the company said it is strengthening its strategic collaboration with Microsoft, deepening its focus on artificial intelligence solutions for utility providers. The energy and water management specialist announced the launch of the Itron Intelligent Edge Operating System (IEOS) Connector for Microsoft 365 Copilot. The new tool will…
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Progressive Posts Strong Q4 Profit as Premium Growth Drives Results
Progressive Corp (NYSE:PGR) reported a sharp increase in profit for the December quarter, supported by solid premium growth and improved underwriting performance as demand for auto insurance remained strong. The insurer said net income for the quarter climbed to $2.95 billion, with earnings per share reaching $5.02. Shares were slightly higher ahead of the U.S.…
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Ondas Shares Gain After American Robotics Drone Clears Federal Procurement Hurdle
Ondas Holdings Inc. (NASDAQ:ONDS) shares rose around 2% on Wednesday after the company said its American Robotics Optimus drone has been cleared for streamlined federal purchasing following its addition to the Defense Contract Management Agency (DCMA) Blue UAS Cleared List. The inclusion confirms that the Optimus platform meets U.S. government requirements around cybersecurity, supply-chain security…
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AeroVironment Shares Edge Higher After $75 Million U.S. Air Force Award
AeroVironment (NASDAQ:AVAV) shares gained about 2% on Wednesday after the company said its UES division had won a $75 million task order from the U.S. Air Force to support work on advanced biotechnology and smart materials. The five-year award falls under the Functional Responsive Experimentation for Systems and Humans (FRESH) program and is aimed at…
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Sleep Number Shares Climb as Travis Kelce Joins as Investor and Brand Partner
Shares of Sleep Number (NASDAQ:SNBR) rose about 4% on Wednesday after the mattress maker announced a new partnership that includes an equity investment from NFL star Travis Kelce. Under the agreement, the Kansas City Chiefs tight end will become one of Sleep Number’s largest shareholders, holding a stake of less than 5%, according to a…
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Wix Shares Jump After Board Approves $2 Billion Buyback Plan
Shares of Wix.com Ltd (NASDAQ:WIX) jumped about 9% on Wednesday after the company unveiled a sizable $2 billion share repurchase program approved by its board. The authorization covers a two-year period spanning fiscal 2026 and 2027 and gives Wix flexibility to buy back ordinary shares and/or convertible notes. Repurchases may be carried out through a…