U.S. To Establish Embassies In Kiribati And Tonga

ManpowerGroup Q2 Profit Rises 10%; Guides Q3 EPS

While reporting financial results for the second quarter on Tuesday, workforce solutions provider ManpowerGroup, Inc. (MAN) said it expects earnings for the third quarter to be in the range of $2.19 to $2.27, which includes an estimated unfavorable currency impact of $0.29.

The guidance also excludes expected integration costs ranging from $4 million to $6 million.

For the second quarter, the company reported net earnings of $122.2 million or $2.29 per share, higher than $111.6 million or $2.02 per share in the prior-year quarter. Excluding integration costs, adjusted earnings for the quarter were $2.33 per share.

Revenues for the quarter grew 3.8 percent to $5.07 billion from $5.28 billion in the same quarter last year. Revenues were up 5.7 percent in constant currency.

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Pre-market Movers: CVM, SRGA, USEA, WETG, NRGV…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.45 A.M. ET).

In the Green

CEL-SCI Corporation (CVM) is up over 44% at $4.83
Surgalign Holdings, Inc. (SRGA) is up over 22% at $3.69
United Maritime Corporation (USEA) is up over 21% at $3.04
Energy Vault Holdings, Inc. (NRGV) is up over 15% at $7.88
Archer Aviation Inc. (ACHR) is up over 15% at $3.75
Gorilla Technology Group Inc. (GRRR) is up over 12% at $22
Mynaric AG (MYNA) is up over 12% at $9.73
Femasys Inc. (FEMY) is up over 9% at $2.25
Silvergate Capital Corporation (SI) is up over 7% at $70
Cinemark Holdings, Inc. (CNK) is up over 5% at $17.53

In the Red

WeTrade Group, Inc. (WETG) is down over 16% at $10.00
Tempest Therapeutics, Inc. (TPST) is down over 11% at $2.25
Invitae Corporation (NVTA) is down over 9% at $2.42
Freshworks Inc. (FRSH) is down over 8% at $11.55
Vertical Aerospace Ltd. (EVTL) is down over 8% at $4.77
International Business Machines Corporation (IBM) is down over 6% at $129.80
Zhong Yang Financial Group Limited (TOP) is down over 6% at $26.98
Greenwich LifeSciences, Inc. (GLSI) is down over 6% at $8.17

Lockheed Martin Corp. Q2 Profit Decreases, misses estimates

Lockheed Martin Corp. (LMT) reported a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company’s bottom line came in at $309 million, or $1.16 per share. This compares with $1.82 billion, or $6.52 per share, in last year’s second quarter.

Excluding items, Lockheed Martin Corp. reported adjusted earnings of $1.69 billion or $6.32 per share for the period.

Analysts on average had expected the company to earn $6.39 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 9.3% to $15.45 billion from $17.03 billion last year.

Lockheed Martin Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $309 Mln. vs. $1.82 Bln. last year.
-EPS (Q2): $1.16 vs. $6.52 last year.
-Analyst Estimates: $6.39
-Revenue (Q2): $15.45 Bln vs. $17.03 Bln last year.

Full year EPS guidance: $21.55
Full year revenue guidance: $65,250 Mln

Godspeed Capital Management LP Proposes To Acquire Hill International

Godspeed Capital Management LP has proposed the Board of Directors of Hill International, Inc. (HIL) to acquire the company for $1.85 per share in cash. Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm.

“At this time, we are interested in a consensual transaction in which the parties enter into a short exclusivity period during which time we can finalize our confirmatory due diligence and negotiate the definitive agreements,” Godspeed stated.

Godspeed Capital expects to have a fully executed, underwritten financing commitment prior to execution of the definitive merger agreement. The merger agreement would not include a financing or due diligence condition.

‘Desus & Mero’ Late-Night Show Ends After Four Seasons

Showtime said that the Bronx-bred hosts were “pursuing separate creative endeavors” after the duo collaborated on television shows, podcasts and a book.

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By Amanda Holpuch

West Fraser Timber Surge Continues

West Fraser Timber Co. Ltd. (WFG) shares are surging more than 22 percent on Tuesday morning continuing a rally. The share started to surge yesterday on Reuters report of acquisition interest from U.K.-based wood panel manufacturer CVC Capital and Kronospan Ltd.

Currently, shares are at $97.81, up 17.51 percent from the previous close of $83.24 on a volume of 1,496,598. For the 52-week period, the shares have traded in a range of $65.77-$102.64 on average volume of 428,742.

Squarespace Slips 10%

Squarespace, Inc. (SQSP) shares are sliding more than 10 percent on Tuesday morning trade, continuing a bearish trend for more than a week. There were no corporate announcements on the day to influence the stock movement.

Currently, shares are at $19.08, down 10.51 percent from the previous close of $21.32 on a volume of 284,367. The shares have traded in a range of $14.43-$59.37 on average volume of 680,406.

U.S. To Establish Embassies In Kiribati And Tonga

The Biden Administration has announced plans to establish new U.S. Embassies in the tiny Pacific island nations of Kiribati and Tonga.

This will be part of a series of commitments that Vice President Kamala Harris is set to announce while virtually participating in the Pacific Islands Forum leaders’ meeting Tuesday to strengthen U.S. partnership with the Pacific Islands.

The United States will commence discussions with Kiribati and Tonga about Washington’s interest in establishing U.S. embassies in those countries, the White House said. This will be subject to congressional notification.

The United States is on track to reopen its embassy in Solomon Islands, another Pacific nation.

Tuesday, Harris will announce that the United States is prepared to request from the Congress $60 million per year for the next ten years in connection with a new Economic Assistance Agreement with the Forum Fisheries Agency.

The Biden Administration will appoint the First-Ever U.S. Envoy to the Pacific Islands Forum, and publish the first-ever U.S. strategy on the Pacific Islands.

U.S. Peace Corps volunteers will soon return to Fiji, Tonga, Samoa, and Vanuatu, and will work with the region to explore program expansion to additional Pacific Island countries.

Harris will announce that USAID is taking steps to re-establish a United States Agency for International Development (USAID) Regional Mission for the Pacific in Suva, Fiji.