Pre-market Movers: MTC, SI, FNKO, OKTA, AEHR…

Advanced Semiconductor Engineering February Revenue Falls

Advanced Semiconductor Engineering, Inc. (ASX), a Taiwanese semiconductor firm, on Thursday, reported a decline in revenue for the month of February 2023.

For the month of February, the company registered a revenue of $1.327 billion, lesser than $1.579 billion, posted for the same period of the previous year.

For the month of January 2023, the Group had reported revenue of $1.477 billion.

For the month of February, revenues from ATM assembly, testing, and material business declined to $769 million from last year’s $937 million.

For the month of January, ASX recorded revenues of $798 million from ATM assembly, testing, and material business.

Enel To Sell Romanian Business To Public Power Corp. For EUR 1.260 Bln

Enel S.p.A. (ENLAY.PK,EN),an Italian energy firm, said on Thursday that it has inked a deal with Greek company Public Power Corporation S.A. or PPC, to sell its all equity stakes in Romania, for around 1.260 billion euros, equivalent to an enterprise value of about 1.900 billion euros.

The transaction aims to reposition Enel on higher-growth countries where it has an integrated presence, namely Italy, Spain, the U.S., Brazil, Chile, and Colombia, the company said.

For 2022-23, the transaction is expected to have a negative impact on Enel’s net income amounting to around 1.4 billion euros, of which around 0.6 billion euros related to the release of the foreign exchange reserve to be booked in 2023.

In addition, the acquirer noted that the transaction is set to bear no impact on its ordinary economic results.

Spain Unemployment Increases Marginally In February

Joblessness in Spain increased marginally in February, suggesting a stable trend in the labor market, the labor ministry said Thursday.

The number of people out of work increased by 2,618, or 0.1 percent, in February from the previous month.

Nonetheless, unemployment totaled 2.91 million in February, the lowest for the month since 2008.

Registered unemployment decreased by 3,868 in the service sector and by 2,399 in industry. In construction, unemployment was down 2,392. Meanwhile, unemployment increased by 1,138 in agriculture.

Compared to February 2022, overall unemployment declined by 200,669 or 6.45 percent.

The youth unemployment increased by 11,862 or 5.83 percent in February from the previous month.

The number of youth registered as unemployed in February totaled 215,366, which was the lowest ever in the month of February.

Flash Purchasing Managers’ survey from S&P Global, released Wednesday, showed a recovery in Spain’s manufacturing activity with the upturns in production and employment. The manufacturing Purchasing Managers’ Index rose to 50.7 in February from 48.4 in January.

As part of expansionary plans, manufacturers added to their workforce for the first time since June last year. Moreover, the rate of job creation was the fastest in almost a year.

Man With Explosive Device In Baggage Arrested At Pennsylvania Airport

FBI agents have arrested a man after an explosive device was found in his baggage before boarding a plane at a Pennsylvania airport.

The device was detected during the routine screening of checked bag of Mark Muffley at Lehigh Valley International Airport Monday. He was bound for Orlando, Florida, according to the Transportation Security Administration.

The suitcase triggered an alarm when it entered the baggage screening unit, and in subsequent inspection, the TSA officer located an item inside the suitcase that appeared to be a live explosive device.

As a precautionary measure, the immediate area of the airport was evacuated and the FBI was notified. FBI and local law enforcement bomb technicians confirmed that the item was an explosive device.

A 3-inch device hidden in the lining of the suspect’s rolling suitcase was found to contain fuses and explosive powder.

Muffley was asked to report over the airport loud speaker, but was seen leaving the airport by that time.

FBI agents traced Muffley’s home in Lansford, Pennsylvania, and arrested him on Tuesday.

The incident occurred on Monday, but TSA and FBI reported it a couple of days later.

The 40-year-old man, who was charged with possession of an explosive in an airport and possessing or attempting to place an explosive or incendiary device on an aircraft, will reportedly appear in court on Thursday.

Pre-market Movers: MTC, SI, FNKO, OKTA, AEHR…

The following are some of the stocks making big moves in Thursday’s pre-market trading (as of 07.15 A.M. ET).

In the Green

MMTec, Inc. (MTC) is up over 39% at $2.21.
Okta, Inc. (OKTA) is up over 16% at $83.08.
Chicken Soup for the Soul Entertainment, Inc. (CSSE) is up over 16% at $4.78.
Incannex Healthcare Limited (IXHL) is up over 16% at $2.90.
Salesforce, Inc. (CRM) is up over 15% at $192.62.
Focus Universal Inc. (FCUV) is up over 13% at $5.56.
CRH plc (CRH) is up over 9% at $51.73.
Veeva Systems Inc. (VEEV) is up over 6% at $177.00.
American Eagle Outfitters, Inc. (AEO) is up over 6% at $15.02.

In the Red

Silvergate Capital Corporation (SI) is down over 31% at $9.24.
Funko, Inc. (FNKO) is down over 25% at $7.99.
Aehr Test Systems (AEHR) is down over 16% at $30.15.
Lionheart III Corp (LION) is down over 15% at $9.95.
Wolfspeed, Inc. (WOLF) is down over 13% at $65.00.
Pure Storage, Inc. (PSTG) is down over 11% at $25.44.
MP Materials Corp. (MP) is down over 10% at $32.07.
Hayward Holdings, Inc. (HAYW) is down over 10% at $10.90.
Cytokinetics, Incorporated (CYTK) is down over 9% at $39.10.
Box, Inc. (BOX) is down over 9% at $30.25.
OKYO Pharma Limited (OKYO) is down over 6% at $2.08.