Pre-market Movers: DC, GTIM, BBAI, RKLY, MLTX…

TIP To Buy Ryder’s Trailer Leasing And Maintenance Business

Netherlands-based privately held TIP Trailer Services, a portfolio company of I Squared Capital and provider of trailer leasing, rental, maintenance and repair services across Europe and Canada, on Wednesday signed a deal to acquire the trailer leasing and maintenance business of U.S.-headquartered Ryder Ltd. Ryder Ltd. (R)

Ryder is a provider of commercial vehicle rental, contract hire, maintenance, and dedicated delivery solutions in the U.K.

Financial details of the deal are not disclosed. The completion of the transaction is expected to take place in June.

The deal would also guarantee a successful future for the mobile maintenance services part of Ryder’s business and continuity with no disruption to customers, business partners or employees.

“A significant portion of the Ryder Ltd mobile maintenance services employee base are mobile technicians which will be a great addition to TIP’s maintenance and repair business,” TIP said.

Shares of Ryder System closed Tuesday’s trading at $63.02, up $0.03 or 0.05 percent from the previous close.

Hyundai Motor to begin electric vehicles production in U.S

FILE PHOTO: An employee sits in front of the logo of Hyundai Motor Co. at its dealership in Seoul, South Korea, October 22, 2015. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – Hyundai Motor Co plans to add electric vehicles (EV) in its Montgomery assembly line in the United States, marking the South Korean automaker’s first EV production in the country, Hyundai Motor Manufacturing Alabama said on Tuesday.

Hyundai said it plans to invest $300 million to build the Electrified Genesis GV 70 and hybrid version of the Santa Fe at its U.S. manufacturing center.

Tesco FY Adj. Operating Profit Rises; Revenue Up 6.0%

Tesco PLC (TSCO.L,TSCDY.PK) said its fiscal 2021/22 Group adjusted operating profit grew by 58.9% at constant rates, reflecting the strong sales performance across the retail businesses, a reduction in COVID-19 related costs and a return to profitability in Tesco Bank. Group sales increased by 3.0% at constant rates, with growth across all regions. Revenue increased by 6.4% at constant rates including fuel sales growth of 48.1%.

Fiscal year adjusted operating profit increased to 2.82 billion pounds from 1.79 billion pounds, last year. Total retail adjusted operating profit was 2.65 billion pounds, an increase of 35.8% at constant rates. Adjusted earnings per share increased to 21.86 pence from 11.58 pence.

Profit before tax increased to 2.03 billion pounds from 636 million pounds, previous year. Earnings per share from continuing operations was 19.64 pence compared to 5.58 pence.

Revenue (exc. VAT, inc. fuel) was 61.3 billion pounds, an increase of 6.0% from last year. Group sales (exc. VAT, exc. fuel) was 54.77 billion pounds compared to 53.44 billion pounds.

The Group’s guidance for the 2022/23 financial year is for retail adjusted operating profit of between 2.4 billion pounds and 2.6 billion pounds.

The Group proposed to pay a final dividend of 7.70 pence per ordinary share, taking the full-year dividend to 10.90 pence per ordinary share. The final dividend is up 19.1% from last year. The final dividend will be paid on 24 June 2022 to shareholders who are on the register of members at close of business on 20 May 2022.

PZ Cussons Posts Q3 Like-For-Like Revenue Growth Of 8.5%

PZ Cussons Plc (PZC.L), a British maker of personal healthcare products, in a trading update on Wednesday reported a rise in like-for-like sales for the third quarter, backed by price/mix contribution of over 8 percent.

For the third quarter ended in February, the firm reported a revenue of 146.3 million pounds, a 8.5 percent increase on a like-for-like basis, compared with the same period a year ago.

For the year to date period, like-for-like revenue grew by 1.3 percent, and declined by 5.5 percent on a reported basis.

The company said its reported revenue growth of 0.7 percent for the three-month period primarily reflects an adverse FX headwind related to the general strengthening of Sterling as well as the disposal of five:am, completed last year.

Looking ahead, the company said its outlook for the fiscal 2022 remains intact and it continues to expect to deliver a growth in like-for-like revenue and adjusted PBT within the range of current expectations.

Jonathan Myers, CEO said: “Our strategy is working, with revenue momentum from our Must Win Brands improving, and up 12.6% compared to before the pandemic. We also have a stronger portfolio following the disposal of non-core assets and the recent acquisition of Childs Farm.”

Stephen Colbert Scoffs at John Eastman’s Obsession With the Election

“Our ex-president isn’t allowed a do-over just because he didn’t like the result the first time. That’s how you get an Eric,” Colbert joked.

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By Trish Bendix

Pre-market Movers: DC, GTIM, BBAI, RKLY, MLTX…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 06.50 A.M. ET).

In the Green

Dakota Gold Corp (DC) is up over 76% at $12.21
Good Times Restaurants Inc. (GTIM) is up over 23% at $4.35
BigBear.ai Holdings, Inc. (BBAI) is up over 17% at $12.14
Rockley Photonics Holdings Limited (RKLY) is up over 15% at $5.00
MoonLake Immunotherapeutics AG (MLTX) is up over 12% at $14.89
Array Technologies, Inc. (ARRY) is up over 12% at $11.88
BARK, Inc. (BARK) is up over 12% at $4.19
BRC Inc. (BRCC) is up over 11% at $26.99
Gogo Inc. (GOGO) is up over 11% at $21.36
REE Automotive Ltd. (REE) is up over 6% at $2.12

In the Red

Anghami Inc. (ANGH) is down over 11% at $11.87
Forge Global Holdings, Inc. (FRGE) is down over 8% at $24.07
Aurora Innovation, Inc. (AUR) is down over 5% at $6.11
Cano Health, Inc. (CANO) is down over 5% at $5.97