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Movers before opening: FedEx plunges into warning, applies optoelectronics to asset sale

Movers before opening: FedEx plunges into warning, applies optoelectronics to asset sale

Stock drives before opening:

Applied Optoelectronics (NASDAQ:) 27% higher; Today announced that it has entered into a definitive agreement (the Agreement) with Yuhan Optoelectronic Technology (Shanghai) Co., Ltd. (the buyer or Yuhan) to sell manufacturing facilities located in the People’s Republic of China and certain related assets to the transceiver business and multi-channel optical sub-assembly products for the Internet data center, telecom, and FTTH markets at a purchase price of $150 million, minus the holding amount. The company expects the transaction to be completed in 2023 and is subject to usual closing conditions and regulatory approvals.

FedEx Corporation (NYSE:) 22% less; Cautious for the first quarter and the pull of guidance for the year. They see first-quarter non-GAAP earnings per share of $3.44, down from $4.37 last year and well below the consensus of $5.14.

NCR Corp (NYSE:) 19% less; It announced that its board of directors had unanimously approved a plan to separate NCR into two independent publicly traded companies — one focused on digital commerce and the other on ATMs. The sale of the whole company cannot be completed due to the financing market.

during Huntsman Corporation (NYSE:) 7% less Earnings conference call, the company provided revised guidance for the third quarter of EBITDA of between $310 million and $355 million, excluding textile effects. The company now expects third-quarter adjusted EBITDA from continuing operations to be between $260 million and $280 million. As previously announced, Huntsman will begin reporting Textile Effects as discontinued operations following the announced agreement to sell the division to Archroma, a portfolio company of SK Capital Partners.

United Parcel Service Inc (NYSE:) 6% less; It falls after the FedEx earnings warning.

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General Electric Company (NYSE:) 5% less; Discuss ongoing supply chain issues at today’s conference.

Uber (NYSE:) 5% less; A computer network was hacked Thursday, cutting many internal communications and engineering systems offline, according to an overnight report from The New York Times.

Pegasystems (NASDAQ:) 4% less; Appian (NASDAQ 🙂 announced today that the Fairfax County Circuit Court, Virginia, has awarded it $2.036 billion in damages from Pegasystems for misappropriation of trade secrets.

Core & Main Inc (NYSE 🙂 4% less; Announced the launch of a guaranteed secondary public offering of 10,000,000 shares of Class A stock by some selling shareholders.

Bowlero Corp (NYSE:) 3% higher; It reported $267.7 million versus the consensus estimate of $195.2 million.

Amazon.com, Inc. (NASDAQ 🙂 2% less; It falls on a FedEx warning.

Schulz Technologies Group Inc (NASDAQ:) 2% higher; Coin upgrades from market to outperform with a price target of $37.50 (from $29.00).

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