ReneSola Announces Acquisition Of Emeren – Quick Facts

ReneSola Ltd (SOL) announced the acquisition of Emeren Limited, a United Kingdom-based utility-scale solar power and battery projects developer in Europe. Emeren has been a strategic partner of Renesola Power to co-develop ground-mounted solar and storage projects in Italy since 2021. Emeren has over 2.5 GW of pipeline under development including over 2 GW of solar projects and over 500 MW of storage projects.

Yumin Liu, ReneSola Power CEO, said, “The timing of this acquisition is excellent as it increases our project pipeline in Europe at a time when solar power purchase agreement prices have increased dramatically due to a supply shortage and favorable regulatory conditions. The acquisition is expected to generate healthy EBITDA immediately.”

Pre-market Movers: VOXR, MDIA, DFLI, MPTI, NMRD…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.00 A.M. ET).

In the Green

Vox Royalty Corp. Common Stock (VOXR) is up over 53% at $4.15
MediaCo Holding Inc. (MDIA) is up over 33% at $2.18
Chardan NexTech Acquisition 2 Corp. (DFLI) is up over 17% at $15.43
1847 Holdings LLC (EFSH) is up over 5% at $1.90

In the Red

M-tron Industries, Inc. (MPTI) is down over 15% at $13.15
Nemaura Medical Inc. (NMRD) is down over 15% at $2.63
Argo Blockchain plc (ARBK) is down over 13% at $2.12
Silo Pharma, Inc. (SILO) is down over 12% at $5.03
ExlService Holdings, Inc. (EXLS) is down over 7% at $143.72
Leggett & Platt, Incorporated (LEG) is down over 7% at $31.99
Indonesia Energy Corporation Limited (INDO) is down over 5% at $6.73

Pre-market Movers: FNGR, AERC, FAZE, ARC, ADEA…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.30 A.M. ET).

In the Green

FingerMotion, Inc. (FNGR) is up over 36% at $8.87
AeroClean Technologies, Inc. (AERC) is up over 36% at $4.37
ARC Document Solutions, Inc. (ARC) is up over 23% at $2.84
Adeia Inc (ADEA) is up over 18% at $8.50
Kiora Pharmaceuticals, Inc. (KPRX) is up over 12% at $7.99
Rubicon Technologies, Inc. (RBT) is up over 11% at $2.18
PIMCO Corporate & Income Strategy Fund (PCN) is up over 7% at $13.09
FinVolution Group (FINV) is up over 7% at $4.70
Sachem Capital Corp. (SACH) is up over 7% at $3.70

In the Red

FaZe Holdings Inc. (FAZE) is down over 24% at $6.12
Atlis Motor Vehicles, Inc. (AMV) is down over 9% at $16.68
Theratechnologies Inc. (THTX) is down over 8% at $2.10

Oil Extends Losses As Demand Concerns Weigh

Oil prices extended losses on Tuesday, after having fallen nearly 2 percent in the previous session.

Benchmark Brent crude futures fell 2.1 percent to $94.17 a barrel, while WTI crude futures were down 2.4 percent at $88.98.

Investors fretted about a further hit to demand in China, as COVID infections ticked up ahead of 20th Party Congress and authorities vowed to stock to the zero-COVID policy.

World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva both warned of recession risks, raising concerns over global demand.

Fears of further monetary policy tightening also weighed after Chicago Fed president Charles Evans said there is a strong consensus at the Federal Reserve to raise the target policy rate to around 4.5 percent by February and hold it there for most of 2023.

Separately, Fed Vice Chair Lael Brainard laid out a case for exercising caution, saying that previous rate increases were starting to slow the economy and the full brunt of tighter policy would not be felt for months to come.

Perficient Buys Ameex Technologies

Perficient, Inc. (PRFT), a digital consultancy, said on Tuesday that it has acquired Ameex Technologies Corp. for an undisclosed sum.

Ameex, with more than 400 professionals and around $19 million revenue, is based in Schaumburg, IL, with offshore operations in southern Indian city of Chennai.

With the acquisition, Ameex CEO and Cofounder Damodaran Venkatesan and CTO and Cofounder Ranga Srinivasan join Perficient in key leadership roles.

Perficient expects that the acquisition will boost its global delivery capabilities and capacity with enhanced agile software design, development, testing and support for customers, reducing costs and accelerating innovation.

American Airlines Now Sees Q3 Total Revenue Higher Than Prior Guidance – Quick Facts

American Airlines Group Inc. (AAL) said, during the third quarter, the company flew 68.6 billion total available seat miles, down 9.6% versus the third quarter of 2019, compared to its prior guidance of down 8% to 10%. The company expects third-quarter total revenue to be up approximately 13% versus the third quarter of 2019, which is higher than its prior guidance of up 10% to 12%. American Airlines expects to report a pre-tax margin excluding net special items of approximately 4.5% in the third quarter, higher than the previous guidance of 2% to 4%. The company expects to report an operating margin of approximately 7% in the quarter.

American Airlines expects pretax income excluding net special items of $606 million, for the third quarter. Total revenue is expected to be $13.46 billion.

The company expects to end the third quarter with approximately $14.3 billion in total available liquidity.

Shares of American Airlines Group are up 5% in pre-market trade on Tuesday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Orthofix Medical Q3 Preliminary Net Sales Rise, Above View; Stock Up In Pre-Market

Orthofix Medical Inc. (OFIX), a medical device and biologics company, said in a preliminary report on Tuesday that its third-quarter sales increased on strong performance in Global Orthopedics, Biologics, and Bone Growth Therapies divisions.

The net sales were above the analysts expectations for the period.

For the September quarter, the healthcare firm reported net sales of $114 million, higher than $112 million registered a year ago.

Analysts, on average, polled by Thomson Reuters expected the firm to report sales of $111.2 million for the quarter.

For the six-month period to September 30, the Texas-headquartered company generated net sales of $339 million, versus $339 million during the same period of 2021.

OFIX is trading up by 1.41 percent at $18.66 per share in pre-market on the Nasdaq.