Jumia Technologies (NYSE:JMIA) shares rose 20% on Tuesday, after Benchmark started coverage with a Buy rating and said the company is well positioned to capture the unmet pend-up demand in the African market. Benchmark said as a leading African ecommerce platform, the company is poised to benefit from a demographicContinue Reading
Mullen Automotive (NASDAQ:MULN) on Tuesday said that its subsidiary Bollinger Motors has reached an agreement to sell five all-electric Class 4 Bollinger B4 commercial trucks to Spencer Manufacturing. The company added that the vehicle order is valued at about $825K. Spencer Manufacturing will take possession of the vehicles after BollingerContinue Reading
Rafe Swan/Cultura via Getty Images Raymond James upgraded Principal Financial (NASDAQ:PFG) to Strong Buy from Market Perform as it sees opportunities for revenue and cash flow generation to accelerate. “Revenue growth could accelerate from solid 4-6% annual gains today, as PFG becomes a one-stop shop for business solutions with emphasisContinue Reading
sharrocks/iStock Unreleased via Getty Images UBS said PNC Financial (NYSE:PNC) appears better positioned to benefit from an improvement in demand, as it awaits the return to broader loan growth during the second half of the year. The brokerage upgraded PNC to Buy from Neutral on Monday and set a PTContinue Reading
Holly Guerrio/iStock Editorial via Getty Images Cinemark (NYSE:CNK) was upgraded by B. Riley to “Buy” from “Neutral,” with ratings firm expecting an upside for the shares of the movie theater chain versus its industry peers. B. Riley acknowledged that while most of the group has lagged during 2024, it “underestimatedContinue Reading
SimonSkafar/iStock via Getty Images Third time’s the charm. London-listed soft drinks maker Britvic (OTCQX:BTVCY) has agreed to a takeover by Danish brewer Carlsberg (OTCPK:CABGY), creating a beverage giant “with a strong platform for continued success.” The move will help Carlsberg (OTCPK:CABGY) diversify outside of the beer market, with an expansionContinue Reading
As the four-year, post-COVID replacement cycle nears and as industry trends paint an upbeat outlook to the consumer electronics segment, Best Buy’s (NYSE:BBY) stock price could surpass $95 as a return to positive comparable sales fueled by the offering of AI-enabled PCs will likely act as a catalyst for shares.Continue Reading
RapidEye SNDL (NASDAQ:SNDL) has decided to acquire Indiva Limited (OTCPK:NDVAF), a leading Canadian producer of cannabis edibles that is currently undergoing a court-cleared process to structure its business under bankruptcy protection. Late Friday, SNDL announced a purchase agreement with the London, Ontario-headquartered firm under which it will purchase “all ofContinue Reading
miroslav_1/iStock via Getty Images Boardwalk Real Estate Investment Trust (TSX:BEI.UN:CA) (OTCPK:BOWFF) said on Friday that the Canadian residential REIT is set to acquire Elbow 5 Eight, a 255-suite, newly built wood frame community in central Calgary’s Windsor Park for C$93M. The consideration equates to ~C$365,000 per suite and a capContinue Reading
anyaberkut/iStock via Getty Images Buyout shops KKR & Co. (KKR) and Francisco Partners are competing to acquire education software provider Instructure (NYSE:INST). The private equity firms are through to the final round of bidding and are preparing binding offers for next week, according to a Reuters report on Wednesday, whichContinue Reading
