Renewable energy stocks in India have witnessed a significant surge in the past year, with some companies reporting gains of over 450%. Government support, a shift towards clean energy, and strong power demand are driving the growth in this sector.
Results for: Business
Zoned Properties (OTCQB:ZDPY), a real estate development firm, has announced plans to implement a stock repurchase program worth up to $1 million. The program has been approved by the company’s board and allows for the repurchase of shares in the open market, private transactions, or other means at prevailing market prices. Zoned Properties intends to utilize its existing cash on hand and projected future free cash flow to fund the repurchases.
Sasol (SSL) shares plunged 11.7% pre-market after the company reported a 9% decline in production volumes in its Secunda operations during the March quarter due to operational challenges. As a result, Sasol revised its production estimates for FY 2024 to 6.9M-7.1M metric tons, down from its previous guidance of 7M-7.3M tons. Despite the production setback, Sasol noted a 4% rise in overall sales volumes but a 20% drop in chemical prices, leading to a 17% revenue decline in its chemicals business. The company anticipates ongoing macroeconomic uncertainty and geopolitical risks to impact its performance in the current quarter.
Tesla announced plans to cut 400 jobs at its German gigafactory near Berlin. The company cited a weakened electric car sales market and intends to implement the cuts through a voluntary program. Tesla’s Gruenheide site currently employs over 12,000 staff, and the carmaker had previously parted ways with around 300 temporary workers as part of plans for global cuts of around 10%. The move comes ahead of Tesla’s first-quarter results announcement later on Tuesday, with investors anticipating the group’s lowest gross profit margin in more than six years due to declining demand for electric vehicles.
Several notable insider trades occurred on Monday, despite the overall positive performance of U.S. stocks. These transactions provide insights into the perspectives of company insiders and can signal potential investment opportunities. Below are details of these insider purchases:
Lockheed Martin (LMT) reported strong first-quarter results, with earnings per share (EPS) and sales exceeding Wall Street estimates. Adjusted EPS came in at $6.33, ahead of the $5.86 consensus estimate, while sales reached $17.2 billion, surpassing the $16 billion expectation. This performance was driven by growth across its business units, including jets, missiles, helicopters, and space exploration.
Collier Homes, a prominent Western Australian residential builder established in 1959, has announced its liquidation following over six decades of operations. The decision comes amidst challenging market conditions, including supply chain disruptions, construction delays, and rising labor costs.
Ford Motor Co. (F) shares rose Tuesday after General Motors Co. (GM) raised its outlook for 2024. GM’s strong earnings report and increased guidance fueled optimism for Ford’s upcoming financial release. GM’s sales and earnings surpassed expectations, prompting a revision of its adjusted earnings guidance to a range of $9 to $10 per share and free cash flow guidance to a range of $8.5 billion to $10.5 billion. Ford is scheduled to report its first-quarter results on Wednesday, with analysts anticipating earnings of 42 cents per share on revenue of $40.137 billion.
Pineapple Energy (PEGY) has announced plans to regain compliance with Nasdaq’s listing requirements by July 24, 2024. The company’s shares have been trading below $0.10, violating the exchange’s minimum bid rule. To meet the requirement, Pineapple Energy plans to implement a reverse stock split before the deadline. The company will seek shareholder approval for the split at its annual meeting on July 1 and aims to enact it by July 11. PEGY stock has surged 43.7% following the announcement, with high trading volume. If the reverse stock split is approved and implemented, Pineapple Energy should be able to trade above $1 per share and regain compliance before the cutoff date.
Demat accounts have revolutionized stock market investing, but it’s crucial to be aware of the associated charges. This guide provides a comprehensive overview of various demat account charges, their types, and how to monitor them effectively. Understanding these expenses is essential for managing investments efficiently and making informed decisions.