Afternoon Movers: EDS, AMR, USG Wednesday, October 21, 4:06 PM ET
On Wednesday afternoon acquisition company 2020 ChinaCap Acquirco completed the acquisition of the outstanding shares of Windrace International, a branded sportswear company in China. The company merged into its wholly-owned subsidiary incorporated in the British Virgin Islands, Exceed Company (EDS), which will be the company's name going forward. In addition to becoming the first Chinese sportswear brand to be listed in the U.S., the deal provides capital for distribution network growth, and for new product innovation. Shares of Exceed were trading 26% higher on Wednesday afternoon.
And among Wednesday afternoon's big losers, AMR Corporation (NYSE:AMR), the parent company of American Airlines, was trading 11% lower after posting a net loss of 359 million dollars, or a dollar 26 per share for the third quarter. Excluding non-recurring charges, AMR would have lost 93 cents per share. CEO Gerard Arpey cited a difficult revenue environment driven by the weakened global economy, as contributing to the loss.
And USG Corporation (NYSE:USG) -- parent of United States Gypsum Company, USG Interiors, and L&W Supply Corporation -- reported a net loss of 96 cents per share as weak market conditions continued to negatively impact revenues, which plunged over 31% year over year. USG said the near term outlook will for its business remain challenging. USG shares were down sharply in Wednesday afternoon trading, off over 8%.
Orchestra BioMed Holdings is Now Oversold (OBIO) Friday, April 26, 4:33 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Noah Holdings (NOAH) Shares Cross Above 200 DMA Friday, April 26, 4:10 PM ET, by Market News Video Staff In trading on Friday, shares of Noah Holdings Ltd (NOAH) crossed above their 200 day ...
Shares of SHM Now Oversold Friday, April 26, 4:10 PM ET, by Market News Video Staff In trading on Friday, shares of the SPDR Nuveen Bloomberg Short Term Municipal Bond ETF ...
PAG Crosses Above Key Moving Average Level Friday, April 26, 4:09 PM ET, by Market News Video Staff In trading on Friday, shares of Penske Automotive Group Inc (PAG) crossed above their 200 ...
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
X
Wait! Don't leave yet.
Want to receive our latest research absolutely free?
⤹
Click the button below for your complimentary copy of Your Early Retirement Portfolio: Dividends Up to 8.7%—Every Month—Forever.
You'll discover the details on 4 stocks and funds that pay you massive dividends as high as 8.7%.