23andMe Reaches Agreement for Sale of Business to TTAM Research Institute Following Final Round of Bidding in Court-Approved Sale Process
Globenewswire· 2025-06-13 20:22
Core Viewpoint - 23andMe has entered into a definitive agreement to sell substantially all of its assets to TTAM Research Institute for $305 million, following a competitive bidding process that included Regeneron Pharmaceuticals as a backup bidder [2][3]. Group 1: Transaction Details - The sale includes the Personal Genome Service (PGS), Research Services business lines, and Lemonaid Health business [2]. - The transaction is subject to approval by the U.S. Bankruptcy Court, with a hearing scheduled for June 17, 2025 [7]. - The agreement with TTAM will replace a previously announced acquisition agreement with Regeneron for $256 million [5]. Group 2: Privacy and Consumer Protections - TTAM has committed to comply with 23andMe's privacy policies and applicable laws, ensuring customer data is processed according to existing consents and privacy statements [4]. - Additional consumer protections include honoring customer rights to delete accounts and genetic data, notifying customers before closing, and establishing a Consumer Privacy Advisory Board within 90 days [6]. - TTAM will offer two years of free identity theft monitoring to customers and will continue to allow de-identified data to be used for research [6].
Orezone Announces Results of Meeting of Shareholders
Globenewswire· 2025-06-13 20:18
Core Points - Orezone Gold Corporation held its annual general and special meeting of shareholders on June 12, 2025, where all resolutions were approved with 62.76% of total issued and outstanding shares represented [1] Voting Results - Julian Babarczy received 99.63% approval with 311,422,274 votes for and 1,143,461 against [2] - Joe Conway received 98.53% approval with 307,958,117 votes for and 4,607,618 against [2] - Patrick Downey received 99.74% approval with 311,751,459 votes for and 814,276 against [2] - Rob Doyle received 99.98% approval with 312,507,445 votes for and 58,290 against [2] - Kate Harcourt received 99.93% approval with 312,332,268 votes for and 233,467 against [2] - Sean Harvey received 99.87% approval with 312,155,498 votes for and 410,237 against [2] - Tara Hassan received 99.82% approval with 312,008,591 votes for and 557,144 against [2] Additional Matters - The number of directors was fixed at seven [7] - The stock option plan was reapproved as required by the TSX every three years [7] - Deloitte LLP was appointed as auditors for the fiscal year ending December 31, 2025, with the board authorized to fix their remuneration [7] Company Overview - Orezone Gold Corporation is a West African gold producer focused on mining, developing, and exploring its 90%-owned Bomboré Gold Mine in Burkina Faso [4] - The Bomboré mine achieved commercial production on December 1, 2022, and is now focused on a staged hard rock expansion to increase annual and life-of-mine gold production [4] - The company emphasizes social responsibility and sustainability, led by an experienced team with a proven track record in project construction, operations, financings, capital markets, and M&A [4]
Why Tesla Stock Soared This Week
The Motley Fool· 2025-06-13 20:15
Core Viewpoint - Tesla shares have increased by 10.3% this week, despite a decline in the S&P 500 and Nasdaq Composite, following a de-escalation of tensions between CEO Elon Musk and President Trump [1][2] Group 1: Stock Performance - Tesla stock rose this week, climbing 10.3% as of market close on Friday [1] - The increase occurred while major indices like the S&P 500 and Nasdaq Composite experienced modest declines [1] Group 2: Leadership Dynamics - A public dispute between Musk and Trump escalated but was resolved, leading to a positive impact on Tesla's stock [2] - Musk acknowledged that some of his comments had gone "too far" and issued an apology, contributing to the stock's recovery [2] Group 3: Product Launch Delays - Anticipation for Tesla's robotaxi launch contributed to the stock's rise, although the launch date has been delayed from June 12 to June 22 [3] - Despite the delay, Tesla shares continued to increase on Friday [3] Group 4: Historical Context - Tesla has a history of failing to meet target launch dates for its autonomous driving technology, raising skepticism about its future promises [5] - Musk had previously predicted that there would be 1 million robotaxis on the roads by 2020, which did not materialize [5]
Johnson Controls Announces $9 Billion Increase to Share Repurchase Program
Prnewswire· 2025-06-13 20:15
Core Viewpoint - Johnson Controls International plc has approved a $9 billion share repurchase authorization, which adds to the existing $1.1 billion remaining from a previous authorization [1][2]. Company Overview - Johnson Controls is a global leader in smart, healthy, and sustainable buildings, focusing on transforming environments for living, working, learning, and playing [3][4]. - The company has a history of nearly 140 years of innovation and offers a comprehensive digital offering called OpenBlue, which serves various industries including healthcare, schools, data centers, and manufacturing [4]. Share Repurchase Details - The share repurchase may be executed through various methods such as open market purchases, Rule 10b5-1 plans, tender offers, or accelerated share repurchase programs [2]. - There is no obligation to repurchase a specific amount of shares within a set timeframe, and the timing and amount will depend on market conditions and share price evaluations [2]. - The share repurchase authorization does not have a set expiration date and can be amended or terminated at the company's discretion [2].
Franklin Electric Announces Repurchase of Company Shares
Globenewswire· 2025-06-13 20:15
Core Points - Franklin Electric Co., Inc. has successfully completed a stock purchase transaction involving 1,200,000 shares at a price of $86.78 per share, reflecting the volume-weighted average price over the preceding five trading days [1] - The transaction was made to provide liquidity for the estate of Patricia Schaefer, who recently passed away, and demonstrates the company's confidence in its financial health and future prospects [2] - The Board of Directors has approved an increase in the company's share repurchase authorization by 1,200,000 shares, allowing for a total of 1,126,635 shares to be repurchased post-transaction [2] Company Overview - Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy, serving various sectors including residential, commercial, agricultural, industrial, municipal, and fueling applications [3] - The company has received recognition in multiple categories, including Newsweek's lists of America's Most Responsible Companies 2024 and Greenest Companies 2025, as well as being named one of the Best Places to Work in Indiana 2024 [3]
Target Announces Voting Results from 2025 Annual Meeting of Shareholders
Prnewswire· 2025-06-13 20:15
Core Points - Target Corporation held its 2025 Annual Meeting of Shareholders on June 11, 2025, where all 12 board nominees were elected, the appointment of the independent accounting firm was ratified, and the executive compensation proposal was approved [1][2] - A total of 391,209,355 shares were voted, representing approximately 86.1% of Target's outstanding shares [2] Voting Results Summary - **Board Nominees Election**: All nominees were elected with the following support percentages: - David P. Abney: 99.3% For - Douglas M. Baker, Jr.: 97.0% For - George S. Barrett: 96.8% For - Gail K. Boudreaux: 99.2% For - Brian C. Cornell: 91.0% For - Robert L. Edwards: 99.0% For - Donald R. Knauss: 98.8% For - Christine A. Leahy: 96.4% For - Monica C. Lozano: 96.3% For - Grace Puma: 99.4% For - Derica W. Rice: 96.3% For - Dmitri L. Stockton: 95.5% For [2] - **Appointment of Independent Accounting Firm**: Ernst & Young LLP was ratified with 93.3% For, 6.4% Against, and 0.3% Abstain [2] - **Executive Compensation Approval**: The "Say on Pay" proposal received 92.2% For and 7.8% Against [2] - **Shareholder Proposal Rejection**: A proposal for a report on affirmative action initiatives was not approved, with only 7.1% For and 91.5% Against [2] Company Overview - Target Corporation, based in Minneapolis, operates nearly 2,000 stores and Target.com, aiming to help families discover the joy of everyday life [3] - Since 1946, the company has contributed 5% of its profit to communities, amounting to millions of dollars weekly [3]
Ready Capital Corporation Declares First Quarter 2025 Dividends
Globenewswire· 2025-06-13 20:10
NEW YORK, June 13, 2025 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE:RC) (the “Company”) announced that its Board of Directors declared a quarterly cash dividend of $0.125 per share of common stock and Operating Partnership unit for the quarter ended June 30, 2025. This dividend is payable on July 31, 2025, to shareholders of record as of the close of business on June 30, 2025. Additionally, the Company announced that its Board of Directors declared quarterly cash dividends on its 6.25% Series C Cumu ...
Why NuScale Power Stock Soared This Week
The Motley Fool· 2025-06-13 20:09
Shares of NuScale Power (SMR -3.89%) soared again this week, up 12.9% as of market close on Friday, June 13, according to data from S&P Global Market Intelligence. The nuclear energy start-up now has a market cap of $11 billion and zero revenue, with the stock up 364% in the last 12 months. Traders are getting optimistic on this group of stocks because of press releases and executive orders from the President of the United States.Here's why NuScale Power stock was soaring yet again this week.Riding high on ...
3 Steel Stocks To Get You Through The Market's Troubles
Benzinga· 2025-06-13 20:07
Industry Overview - The S&P Steel Index is experiencing growth in 2025, driven by tariff leverage, strong balance sheets, and high returns on capital [1] - As of June 12, the S&P Steel Sub-Industry Index has increased by 8.40% year to date, indicating stabilization in the US steel sector [1] - President Trump's decision to double US steel import tariffs from 25% to 50% on June 4, 2025, is a significant factor contributing to this growth [1][2] Tariff Impact - The announcement of the tariff increase led to immediate gains in steel stocks, with Cleveland-Cliffs rising 26% in one day, while Steel Dynamics and Nucor saw increases of 10-11% [2] - Benchmark steel prices rose from $725 per metric ton before the tariff announcement to $875 per metric ton currently, effectively raising the price floor for domestic steel [2] Market Dynamics - The steel industry's rally is attributed to both short-term catalysts and long-term structural forces, including federal spending on infrastructure and reshoring efforts [3] - Supply chain restocking, recovery in the auto sector, and disciplined capital returns from leading companies like Nucor and Steel Dynamics contribute to a more stable sector profile [3] Construction and Demand - Domestic construction activity is robust, particularly in commercial construction, which supports demand for structural steel despite higher interest rates [7] - Key steel-consuming industries, such as automotive and machinery manufacturing, are showing resilience, while renewable energy infrastructure expansion creates new demand for steel [7] Company Highlights - Nucor, trading at $121 per share with a 1.82% dividend yield, is noted for its industry-leading margins and strong balance sheet, despite recent volatility due to tariff negotiations [9] - Steel Dynamics, priced at $133 per share with a 1.50% dividend yield, has shown a 16.7% increase year to date and is recognized for its operational efficiency and low production costs [10][11] - ArcelorMittal, trading at $30 per share with a 1.55% dividend yield, has seen a 30.6% increase year to date and is expected to benefit from strategic acquisitions and joint ventures [12][13] Investment Considerations - Investors are advised to focus on companies with high-margin, value-added products and sustainable dividend growth rather than chasing commodity pricing volatility [14] - Strong fundamentals, including cost-efficient production, strong returns on capital, and quality net margins, are essential for evaluating steel stocks [16]
SPDR ICE Preferred Securities ETF's Portfolio Review
Seeking Alpha· 2025-06-13 20:05
we discuss ideas like this as they happen in more detail. All active investors are welcome to join on a free trial and ask any question in our chat room full of sophisticated traders and investors.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alph ...