Frontier Out, JetBlue In: Spirit Reached US$3.8 Billion New Merger Deal
The bidding war for acquiring Spirit Airlines (NYSE: SAVE) is seemingly headed for its grand finale. Just a day after the airline terminated its long-standing and defended agreement with Frontier Airlines, Inc. (Nasdaq: ULCC), the firm now reached a deal to merge with JetBlue (Nasdaq: JBLU). JetBlue has since been upping its hostile takeover bid […]
Meta Declares Q2 2022 Financials And The Only Thing That Increased Is Expenses
Meta Platforms (Nasdaq: META) reported its first-ever year-on-year revenue decline in Q2 2022. The tech giant recorded US$28.82 billion in quarterly revenue, down from Q2 2021’s US$29.08 billion and also missed the consensus estimate of US$28.93 billion. The declining trend is expected to continue in the third quarter when the firm projects recording US$26 – […]
Canada’s Economy Weakening Amid High Inflation, Rising Rates
Canada’s economy showed signs of losing steam over the past two months, as persistently high inflation and subsequent rising interest rates weigh down on output. Latest data from Statistics Canada shows that GDP growth did not change in May, following a 0.3% increase in the prior month. Although the country’s services-producing industries expanded by 0.4%, […]
Roku Misses Q2 2022 Estimates, Falls 22% (So People Are Checking On Cathie Wood)
Roku Inc (Nasdaq: ROKU) reported its Q2 2022 financial results on Thursday post-closing bell. The firm earned a quarterly revenue of US$764.4 million, up from Q1 2022’s US$733.7 million and Q2 2021’s US$645.1 million. However, this missed the consensus estimate of US$805.7 million for the quarter. Following the release, the firm saw its shares fall as […]
Celsius Belatedly Informed Client Email Addresses Were Compromised Via Vendor Data Breach
As if filing for bankruptcy wasn’t enough to put a stop gap on debacles, Celsius Network informed its clients recently that some email addresses were involved in a data breach connected to one of its vendors. “We are writing to let you know that we were recently informed by ourvendor Customer.io that one of their […]
Amazon Soars 12% As Firm Continues To Record Net Loss In Q2 2022
Amazon.com, Inc. (Nasdaq: AMZN) reported on Thursday post-closing its financial results for Q2 2022. The company recorded US$121.23 billion in net sales, an increase from Q1 2022’s US$116.44 billion and Q2 2021’s US$113.08 billion. The revenue figure also exceeds the upper end of the previously announced guidance of US$116.0 – US$121.0 billion. After the firm […]
Neptune Wellness Elects To Walk From Toronto Stock Exchange Listing
The Toronto Stock Exchange has lost another listing as it continues to struggle to compete with the volume of shares traded on both the New York Stock Exchange as well as the Nasdaq. Neptune Wellness (TSX: NEPT) this morning notified its shareholders that it has sought a voluntary delisting from the exchange. In making the […]
Bidding Wars? UEX Corp Receives Superior Acquisition Offer From Denison Mines
A bidding war appears to be getting underway within the uranium sector. Uranium Energy Corp (NYSE: UEC) late last night revealed it has received notification that a superior offer has been made for the acquisition of UEX Corporation (TSX: UEX), the Canadian-focused exploration firm the company moved to acquire last month. At the time of […]
First Majestic: BMO Cuts Target To $9.50
Last week First Majestic Silver Corp (TSX: FR) announced its second quarter production results. The company announced that it produced 7.7 million silver equivalent ounces, comprised of 2.775 million ounces of silver and 59,391 ounces of gold. Production is up -15% and 28% year over year, respectively, which equates to total production is up 20% […]
Kim Jong Un Bolsters Threat Against the West, Looks to ‘Eliminate’ South Korea
North Korean Leader Kim Jong Un has re-emerged from summer vacation to bolster his threats against South Korea and the US. After remaining out of the pubic eye for almost three weeks, Kim took a break from vacationing at his coastal mansion to once again remind South Korea’s new conservative president Yoon Suk Yeol that […]