Compass Minerals Intl Inc (CMP) shares surged on Tuesday after the company announced preliminary third-quarter revenue exceeding estimates. The Salt and Plant Nutrition segments showed strong performance, driving the positive results. The company is also actively addressing past accounting issues and has revised its full-year revenue outlook.
L3Harris Technologies has secured a five-year, $587.4 million contract from the U.S. Navy to provide advanced jamming pods for its EA-18G Growler aircraft. These pods, known as the Next Generation Jammer-Low Band (NGJ-LB), are designed to modernize the Navy’s electronic warfare capabilities and replace its outdated jamming systems. The NGJ-LB system offers significant advantages, including enhanced jamming capabilities, modular architecture for seamless updates, and increased target engagement potential.
Lightspeed Commerce (LSPD) is poised for strong revenue growth, driven by healthy transaction-based revenue and a reacceleration in subscription-based revenue, according to Benchmark analyst Mark Palmer. Palmer initiated coverage of Lightspeed with a Buy rating and a $20 price target, highlighting the company’s renewed focus on driving subscription-based sales and attracting high-value merchants.
Clearmind Medicine has filed a patent for a new combination therapy for addiction, involving Ibogaine and Palmitoylethanolamide (PEA). The therapy, developed in collaboration with SciSparc, aims to improve the safety and efficacy of Ibogaine-based treatments for opioid, cocaine, and other substance use disorders.
BofA Securities analyst Justin Post remains bullish on Amazon, maintaining a Buy rating with a price target of $210. Post’s optimism stems from CEO Andy Jassy’s restructuring efforts, aimed at streamlining operations and driving cost savings. This includes a strategic partnership with Intel to develop custom AI chips for Amazon Web Services (AWS), which is expected to capture significant market share in the burgeoning AI market. The analyst also sees opportunities for Amazon to increase efficiency through a reduction in management layers and a return to the office.
The global green mining market is expected to reach $16.9 billion by 2029, driven by increasing demand for sustainable practices. This growth is fueled by factors like environmental regulations, community engagement, and advancements in technology, creating a shift towards eco-friendly mining operations.
George McFaden, a top mortgage professional with Guaranteed Rate Affinity, has launched his own team to better serve clients in the competitive San Francisco Bay Area. Leveraging Guaranteed Rate Affinity’s advanced fintech solutions, the George McFaden Team will offer faster pre-approvals, appraisals, and closings, providing a seamless and efficient mortgage experience.
Steel Dynamics, Inc. (STLD) has announced its earnings guidance for the third quarter of 2024, projecting earnings per share in the range of $1.94 to $1.98. This represents a decline from the company’s second-quarter earnings and third-quarter 2023 results. The decline is primarily attributed to reduced pricing in the flat rolled steel operations.
Shares of Hewlett Packard Enterprise (HPE) surged on Tuesday after Bank of America Securities upgraded the company’s rating to Buy, citing cost cuts, Juniper-related synergies, and AI opportunities. Analyst Wamsi Mohan highlighted the company’s strategic shift towards networking, driven by the Juniper acquisition, and its potential to capitalize on AI advancements in the sector.
US stocks traded higher on Tuesday, driven by gains in the consumer discretionary sector. The Dow Jones Industrial Average gained over 100 points, while the NASDAQ and S&P 500 also recorded positive gains. Meanwhile, European shares climbed, while Asian markets closed mixed.
