Tegna In Talks With Standard General For Potential Sale: Reports

Mueller Water Products Stock Up 3% On Quarterly Results

Shares of Mueller Water Products, Inc. (MWA) are gaining over 3% on Friday morning after its first-quarter profit beat Wall Street estimates.

MWA is currently trading at $13.04, up $0.44 or 3.49%, on the NYSE.

First-quarter profit was $19.4 million or $0.12 per share, up from $16.7 million or $0.11 per share last year. Adjusted earnings for the quarter were 19.8 percent to $21.2 million or $0.13 per share, up from $17.7 million or $0.11 per share in the prior year quarter. Analysts polled by Thomson Reuters estimate earnings of $0.08 per share.

Sales for the period rose 14.7 percent to $272.3 million from $237.4 million last year.

RyanAir blames new Omicron travel rules as cause for company turbulence

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It had only seven million passengers last month compared with 10.2 million in November, just six percent short of pre-pandemic levels.

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The budget carrier said that it operated 46,400-plus flights in January at 79 percent capacity. In January last year, it flew 1.3 million and its flights were 69 percent full.

On Monday Ryanair said that it made an £80million net loss for the three months to December 31, compared with a £267.4million deficit in the same quarter in 2020.

It said that while recent bookings have improved, price cuts maybe needed.

Woman shot dead in Aurora on Friday night in triple shooting.

A woman was shot dead in Aurora on Friday night in a triple shooting and two men were taken to a local hospital.

Officer are at the scene near East 6th Avenue and Olathe Street, according to a police Twitter post at 8:37 p.m.

The men are expected to survive their wounds, according to police. The shooting suspect fled the scene before officers arrived.

 

Carlyle Group Q4 Profit Rises – Quick Facts

Carlyle Group Inc. (CG) reported that its fourth quarter net income attributable to common stockholders rose to $647.6 million or $1.77 per share from $518.8 million or $1.44 per share in the same quarter last year.

Total revenues for the quarter grew to $2.00 billion from $1.51 billion in the previous year.

The company said its board has declared a quarterly dividend of $0.25 per share to holders of record at the close of business on February 15, 2022, payable on February 23, 2022.

Additionally, the Board of Directors approved an increase in the common stock dividend to an annual rate of $1.30 per share ($0.325 per common share on a quarterly basis), which is anticipated to commence for the first quarter 2022 dividend anticipated to be paid in May 2022.

Chicago Business Barometer Unexpectedly Indicates Faster Growth In January

Chicago-area business activity unexpectedly grew at a faster rate in the month of January, according to a report released by MNI Indicators on Monday.

MNI Indicators said its Chicago business barometer rose to 65.2 in January from an upwardly revised 64.3 in December, with a reading above 50 indicating growth.

The increase surprised economists, who had expected the Chicago business barometer to drop to 61.7 from the 63.1 originally reported for the previous month.

The unexpected uptick by the Chicago business barometer was partly due to a notable rebound by the employment index, which jumped to 49.1 in January from 44.5 in December.

On the other hand, the report showed slowdowns in the pace of growth in both production and new orders.

The prices paid index also dropped to an eight-month low, falling just below the high 12-month average of 89.1.

MNI Indicators noted this month’s survey included a question asking firms whether they are seeing any easing in the supply chain blockages, with 59.5 percent saying “no” and 37.8 percent saying “yes” and “somewhat.”

Pre-market Movers: IMPP, PRVB, HOOD, ATIF, WDC…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 07.20 A.M. ET).

In the Green

Imperial Petroleum Inc. (IMPP) is up over 50% at $1.74
Provention Bio, Inc. (PRVB) is up over 13% at $3.85
ATIF Holdings Limited (ATIF) is up over 12% at $4.40
New Concept Energy, Inc. (GBR) is up over 8% at $2.99
Tian Ruixiang Holdings Ltd (TIRX) is up over 7% at $1.20
Spectrum Pharmaceuticals, Inc. (SPPI) is up over 5% at $0.66

In the Red

Robinhood Markets, Inc. (HOOD) is down over 12% at $10.12
Western Digital Corporation (WDC) is down over 10% at $48.26
BT Brands, Inc. (BTBD) is down over 8% at $2.57
Sidus Space, Inc. (SIDU) is down over 7% at $10.00
TechnipFMC plc (FTI) is down over 7% at $6.14
Aptorum Group Limited (APM) is down over 6% at $1.51

MicroStrategy Swings To Q4 Loss

MicroStrategy Incorporated (MSTR) Tuesday reported fourth-quarter net loss of $89.98 million or $8.43 per share, compared to net income of $2.66 million or $0.27 per share last year.

Revenues for the quarter rose to $134.5 million from $131.3 million last year.

Analysts polled by Thomson Reuters expected earnings of $1.49 per share and revenues of $133.2 million for the quarter.

Tegna In Talks With Standard General For Potential Sale: Reports

Television broadcaster Tegna Inc. (TGNA) is in advanced discussions with Standard General, one of its largest shareholders, about a potential buyout at about $24 per share, according to Bloomberg.

Shares of TEGNA rose nearly 7% in regular trading, closing at $21.34.

The deal would be backed by alternative asset manager Apollo Global Management Inc. and is in talks to receive preferred shares in Tegna and won’t have voting rights.

According to the report, a deal for Tegna could be announced in the coming weeks if negotiations are successful.

The offer is the latest in a series of bids to acquire Tegna. The Wall Street Journal last year had reported that media mogul Byron Allen had offered to acquire Tegna for $4.4 billion. Bloomberg reported in September that Standard General and Apollo previously bid for Tegna.