PagSeguro Digital Stock Slips 15% On Quarterly Results

Shares of Brazilian fin-tech company PagSeguro Digital Ltd. (PAGS) are slipping over 15% on Thursday morning after the company reported its first-quarter results.

PAGS is currently trading at $14.59, down $2.61 or 15.17%, on the Nasdaq. The stock opened its trading at $16.36 after closing Wednesday’s trading at $17.20. The stock has traded between $9.53 and $61.65 in the past 52-week period.

Revenues for the quarter rose 66% to R$3.427 billion from R$2.067 billion. Net income for the quarter was R$350 million or R$1.0504 per share, up from R$271 million or R$0.8212 per share last year. Adjusted profit was R$371 million or R$1.1145 per share, up from R$327 million or R$1.0787 per share last year.

US, South Korean Fighter Jets Fly Over Yellow Sea In Show Of Force

As part of a joint US-South Korea military exercise, 20 warplanes flew over the Yellow Sea on Tuesday.

It was yet another show of strength by the allies in the wake of North Korea’s missile provocation.

The combined air power demonstration involved 16 South Korean F-35A, F-15K and FK-16 fighters and four American F-16 fighter jets, the South Korean Joint Chiefs of Staff (JCS) said.

“South Korea and the US have demonstrated their strong ability and will to strike quickly and accurately against any North Korean provocations by demonstrating their combined defense capabilities and posture through this combined air force demonstration flight,” JCS added.

The South Korean military, in close coordination with its U.S. counterparts, is maintaining a firm readiness posture, according to the press release issued by South Korea’s Defense Ministry.

The International Atomic Energy Agency (IAEA) on Monday expressed concern that Pyongyang suspectedly opened an access way to its underground nuclear weapons testing site.

The joint military muscle-flexing came a day after the United States and South Korea fired eight ballistic missiles into the East Sea in response to North Korea’s missile launches Sunday.

It was an apparent reaction to South Korea-United States joint naval exercise last week, led by a nuclear-powered U.S. aircraft carrier.

Electrolux Recalls 367,500 Refrigerators Due To Choking Hazard

Swedish home appliance maker Electrolux has recalled about 367,500 Frigidaire and Electrolux refrigerators due to choking hazard from ice maker.

The company has recalled Frigidaire and Electrolux branded side-by-side, top freezer and multi-door refrigerators because the ice level detector arm in the ice maker can break into pieces and fall into the ice bucket, posing a choking hazard.

Electrolux said it has received 185 reports of the ice level detectors breaking, including one report of gum lacerations.

The recall involves 13 models of Frigidaire refrigerators and one Electrolux model refrigerator. The model number and serial number ranges can be found on CPSC website. The refrigerators all feature an ice maker and come in stainless steel, white and black. The refrigerators range from 23 to 36 inches wide.

The company has asked its customers to stop using the recalled refrigerator ice makers, empty the ice bucket and contact Electrolux to schedule a technician to replace the ice maker with one that has a polypropylene ice level detector, free of charge.

The recalled product was sold at Lowe’s, Home Depot and appliance stores nationwide and online at Frigidaire.com from April 2020 through March 2022 for between $1,200 and $4,300.

Mission Produce Climbs On Higher Q2 Revenues

Mission Produce, Inc. (AVO) shares are up more than 10 percent on Thursday morning trade after the company reported 18 percent increase in second-quarter revenue, compared to the prior year. The growth was driven by a 44 percent increase in average per-unit avocado sales prices.

The company reported sales of $278.1 million, up from $234.7 million in the previous year.

Looking ahead, the Company believes that the pricing environment should begin to rationalize during the fiscal third quarter.

Currently, shares are at $15.36, up 10.34 percent from the previous close of $13.92 on a volume of 217,427. For the 52-week period, the shares have traded in a range of $11.04-$22.93 on average volume of 151,222.

Biden To Travel To Europe On June 25 For G7, NATO Summits

President Joe Biden will travel to Europe later this month to attend two important global summits.

He will be in Schloss Elmau in southern Germany on June 25 to attend the G7 Leaders’ Summit.

“The G7 leaders will discuss a range of the most pressing global issues, including the G7’s unwavering support for a democratic, sovereign, and prosperous Ukraine, economic and democratic resilience, tackling the climate crisis, development infrastructure, global health security, and the food and energy crisis caused by Russia’s war of aggression,” the White House said in a press release detailing the President’s tour itinerary.

On June 28, Biden will travel to Spain’s capital Madrid for the 2022 NATO Summit. Allied leaders will endorse a new Strategic Concept to guide NATO’s transformation over the next decade, according to the White House. It includes strengthening deterrence and defense, building resilience against transnational threats such as cyber and climate, and deepening partnerships with democratic partners in Europe and Asia in order to strengthen the rules-based international order.

For Summertime Mocktails That Shine, Look to Tea

With its tannic qualities and endless applications, tea can add much-appreciated complexity to nonalcoholic drinks.

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By Rebekah Peppler