SGMT, CRGY, and SND rally on AI alerts; Arcadium Lithium soars 30% amid Rio Tinto acquisition talks.
Trading Options with AI
October 7, 2024
This week, LevelFields alerts delivered impressive returns. SGMT's breakthrough therapy spurred a 12% gain in one day, with a total rally of over 40% for the week. CRGY was added to the S&P Small Cap 600, driving a 12% gain in a single day. SND announced a $10M buyback, resulting in a 10.5% daily gain, while CIEN's $1B buyback boosted shares by 7.5% in one day.
Arcadium Lithium Plc shares surged over 30% after reports emerged that Rio Tinto is in talks to acquire the company in a deal valued between $4 billion to $6 billion. The ongoing negotiations have yet to result in a final agreement.
Toyota is investing $500 million in Joby Aviation to help launch its U.S. electric air taxi services, expected to begin in 2025. This new investment adds to Toyota's $394 million capital injection in 2020. Joby will use the funds for aircraft certification and commercial production, aiming to expand sustainable air travel globally. Joby surged over 15% this week. This comes as a huge boost as the company reported a revenue of only 28K last quarter.
Spirit Airlines' shares plummeted to a record low after reports emerged that the company is considering Chapter 11 bankruptcy. The budget carrier is facing an October 21 deadline to refinance over $1 billion in debt, following a blocked acquisition by JetBlue and struggles with rising costs, shifting consumer demand, and an engine recall. It probably didn't help that they treat their customers like stray cats, but maybe that was just our experience.
Levi Strauss reported mixed quarterly results, missing revenue expectations, and announced it is considering selling its Dockers brand due to a 15% decline in sales. Despite a 5% gain in Levi’s namesake brand, overall revenue remained flat. Following the announcement, Levi’s stock dropped over 8%. The company also lowered its full-year revenue guidance but maintained its earnings outlook.
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