After-Market :E2open, WD-14 gains/ VOXX Falls Stocks July 10th

After-market active stocks

Gainers

• E2open (NYSE:ETWO) increased by 6% and announced Q1 EPS of $0.05, which was in line with analyst expectations. Compared to the average expectation of $173.04M for the quarter, actual revenue was $160.1M.
• WD-40 Company (NASDAQ:WDFC) 4% HIGHER; The EPS for the third quarter of the WD-40 Company (NASDAQ:WDFC) came in at $1.34, $0.12 more than the $1.22 average forecast. Contrary to the average forecast of $138.4M, the actual revenue for the quarter was $141.7M. For the fiscal year 2023, the business reiterated the following guidance:
• Payoneer Global Inc (NASDAQ:PAYO) increased by 2% after announcing a plan to cut about 9% of its current total employment from its workforce.
• Dominion Energy Inc (NYSE:D) 1% HIGHER; The facility is currently operated by Berkshire Hathaway (NYSE:BRKa) Energy, which also owns a 100% general partner interest and a 25% limited partner interest. Dominion Energy Inc. (NYSE:D) 1% HIGHER announced that it has completed a thorough and competitive sale process and executed a definitive agreement to sell its 50% noncontrolling limited partner interest in Cove Point LNG, LP.

Losers

• VOXX International Corporation (NASDAQ:VOXX) 16% LOWER; VOXX International Corporation (NASDAQ:VOXX) posted Q1 EPS of ($0.45), $0.41 below the analyst estimate of ($0.04), a 16% lower figure than expected. The actual revenue for the quarter was $111.93 million as opposed to the consensus forecast of $125.38 million.
• Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), which reported a 9% LOWER share price, stated that it planned to offer and sell $150 million worth of its common stock.
• PriceSmart (NASDAQ:PSMT) 5% LOWER;; PriceSmart (NASDAQ:PSMT) posted Q3 EPS of $1.02, $0.17 higher than the analyst expectation of $0.85, and is currently trading 5% LOWER. Contrary to the average forecast of $1.1 billion, the quarter’s revenue actually came in at $1.1 billion. plans to buy back $75 million worth of stock.
• CalAmp Corp (NASDAQ:CAMP) decreased by 3%; its Q1 EPS of ($0.11) was $0.15 below the $0.04 analyst forecast. Compared to the average expectation of $75.13M for the quarter, actual revenue was $70.9M. Contrary to the consensus estimate of $77.138M, Calamp Corp. anticipates Q2 2024 revenue of $67-73M.

MARKET MOVERS 

MIDDAY MOVERS

GAINERS

• Icahn Enterprises (NASDAQ:IEP) stock rose 20%; After the Wall Street Journal reported that banks and famed investor Carl Icahn had concluded modified loan arrangements that freed Icahn’s personal loans from the market price of Icahn Enterprises, months after short-seller Hindenburg raised margin call worries, Icahn Enterprises’ (NASDAQ:IEP) shares increased 20%.
• The shares of Helen of Troy (NASDAQ:HELE) increased 17% after the consumer products store exceeded forecasts for profit and sales in the first quarter, despite a decline in discretionary spending.
• Fisker (NYSE:FSR) stock rose 5.9%; The stock of electric vehicle manufacturer Fisker (NYSE:FSR) climbed 5.9% after the company disclosed a $340 million offering of convertible notes that could be expanded to $680 million.
• Meta Platforms (NASDAQ:META) stock rose 0.4%; After reaching 100 million subscribers, Meta Platforms’ (NASDAQ:META) Threads online social media site saw a 0.4% increase in stock price, possibly posing a threat to Twitter’s popularity.Citigroup (NYSE:C) stock rose 0.4%; Ahead of Friday’s quarterly results reporting, the shares of Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), and JPMorgan Chase (NYSE:JPM) all experienced slight price increases.

Losers

FMC (NYSE:FMC) stock fell 10%; After cutting its revenue forecast and citing “abrupt and unprecedented” volume decreases, FMC (NYSE:FMC) stock dropped 10%.

Major Deals

Cronos attracting suitors

On Thursday, Canadian cannabis company Cronos (TSX:CRON) (NASDAQ:CRON), in which Altria (NYSE:MO) owns 41%, said it received “a number of unsolicited indications of interest from third parties, each regarding a potential transaction involving Cronos and the third party.” The business said it is “initial stages” of assessing these.

New York-traded Cronos shares fluctuated on the news before rising 6.9% to $2.01 on Friday. Toronto stocks rose at week’s end.

Brookfield buys American Equity Investment Life for $4.3 billion.

To grow its insurance operation, private capital manager Brookfield agreed to buy American Equity Investment Life (NYSE:AEL) for $55 per share, or $4.3 billion, on Wednesday.

Brookfield Reinsurance (NYSE:BNRE), Brookfield’s listed insurance affiliate, will acquire AEL’s remaining interest in the cash-and-stock transaction. The price is 35% over AEL’s June 23 closing share price.

AEL allowed Brookfield to increase its 20% share last week, according to a regulatory filing.

After a series of deals, Iowa-based AEL, which manages over $70B in assets, was one of the last significant independent fixed index annuity writers. AEL rejected bids from Elliott Management-backed Prosperity Life and Apollo’s Athene and MassMutual.

CorEvitas joins Thermo Fisher Scientific.

Thermo Fisher Scientific (NYSE:TMO) will pay $912.5 million in cash for CorEvitas, which provides real-world data to improve decision-making and reduce drug development time and cost.

Monster Beverage bought Bang Energy.

Monster Beverage (NASDAQ:MNST) acquired Bang Energy from Vital Pharmaceuticals for $362 million.

Bang Energy declared Chapter 11 bankruptcy in October 2022. Bankruptcy court clearance is required.

Earnings Calendar

MONDAY JULY 10

WD-40 Company (WDFC) and PriceSmart Inc. (PSMT)

Tuesday JULY 11