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ATLANTA , Dec. 23, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today announced it has received notification (the "Acceptance Letter") from the New York Stock Exchange (the "NYSE") that the NYSE has accepted the Company's previously-submitted plan (the "Plan") to regain compliance with the NYSE's continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual relating to minimum market capitalization and stockholders' equity. In the Acceptance Letter, the NYSE granted the Company an 18-month period from September 12, 2024 (the "Plan Period") to regain compliance with the continued listing standards. As part of the Plan, the Company is required to provide the NYSE quarterly updates regarding its progress towards the goals and initiatives in the Plan. In the Plan, Kore included details regarding previously reported operational restructuring activities, as well as an outlook on the Company's business. The Company expects its common stock will continue to be listed on the NYSE during the Plan Period, subject to the Company adherence to the Plan and compliance with other applicable NYSE continued listing standards. The Company's receipt of such notification from the NYSE does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. Cautionary Note on Forward-Looking Statements This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "guidance," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding expected progress with the Company's compliance plan submitted to the NYSE, expected compliance with continued listing standards of the NYSE and expected continued listing of the Company's common stock on the NYSE. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, including the acquisition of Twilio's IoT business, changes in the assumptions underlying KORE's expectations regarding its future business; our ability to negotiate and sign a definitive contract with a customer in our sales funnel; our ability to realize some or all of estimates relating to customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. KORE Investor Contact: Vik Vijayvergiya Vice President, IR, Corporate Development and Strategy vvijayvergiya@korewireless.com (770) 280-0324 View original content to download multimedia: https://www.prnewswire.com/news-releases/kore-announces-nyse-acceptance-of-plan-to-regain-listing-compliance-302338621.html SOURCE KORE Group Holdings, Inc.Gaetz withdraws as Trump's pick for attorney general, averting confirmation battle in the SenateJPMorgan European Discovery ( LON:JEDT – Get Free Report ) shares shot up 0.3% on Friday . The company traded as high as GBX 441.50 ($5.53) and last traded at GBX 439.50 ($5.51). 374,867 shares traded hands during trading, a decline of 60% from the average session volume of 934,297 shares. The stock had previously closed at GBX 438 ($5.49). JPMorgan European Discovery Stock Performance The company has a market cap of £526.83 million, a PE ratio of 1,690.38 and a beta of 1.24. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.00 and a current ratio of 6.01. The firm’s 50 day moving average is GBX 459.30 and its 200-day moving average is GBX 462.99. Insider Activity at JPMorgan European Discovery In other news, insider James Will acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of GBX 447 ($5.60) per share, for a total transaction of £44,700 ($56,036.10). Insiders own 3.56% of the company’s stock. JPMorgan European Discovery Company Profile JPMorgan European Smaller Companies Trust plc is a closed ended equity mutual fund launched and managed by JPMorgan Funds Limited. The fund is co-managed by JPMorgan Asset Management (UK) Limited. It invests in the public equity markets of Europe, excluding the United Kingdom. The fund seeks to invest in stocks of companies operating across diversified sectors. Read More Receive News & Ratings for JPMorgan European Discovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan European Discovery and related companies with MarketBeat.com's FREE daily email newsletter .
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The O.N. Jonas Foundation announces this year’s Arts-in-Education grant recipients. The foundation oversees two major grant entities: the Seretean Foundation grants for elementary schools and the Lorberbaum Foundation grants for middle and high schools. Teachers in Dalton, Murray County and Whitfield County schools may apply for grants to expand and enhance arts instruction in visual arts, music, theater or dance. Students at Westwood, Valley Point and Chatsworth elementary schools will benefit from this year’s Seretean grants. Megan Walker’s Westwood students will create silhouettes of children at play. Under the direction of Kaylee Fissel, additional barred instruments will be incorporated into Valley Point students’ music education. Sheri Carr’s Chatsworth students will create arts and crafts for a Celebration of Cultural Diversity. The Seretean grants began in 2011. Due to their success in enhancing arts learning in area elementary schools, in 2021 the Lorberbaum Foundation established grants for middle and high school arts. Students at Dalton High School, Northwest Whitfield High School and Murray County High School will benefit from this year’s Lorberbaum grants. The addition of a classroom music technology studio will provide Rodney Gipson’s students at Dalton High with hands-on experience and practical knowledge to prepare them for a career in music production. Josh Ruben’s students at Northwest Whitfield High will produce masque theatre — they will construct masks, research storytelling traditions, write scripts and perform short plays. An additional trailer at Murray County High will provide increased storage capacity for Holly Kinsey’s band students, allowing prop and technology inventory to increase. Submitted by the O.N. Jonas Foundation.
Shares of Navitas Semiconductor Corporation experienced a dramatic surge, skyrocketing by up to 24.6% before solidifying at a 20.4% increase. The spike in Navitas’ stock comes amidst significant geopolitical developments impacting the semiconductor industry. Government Action Boosts Semiconductor Industry On Monday, the Biden administration launched an investigation focused on China’s semiconductor companies, specifically those using silicon carbide (SiC) and gallium nitride (GaN) materials. These types of chips are vital to various sectors, including automotive, industrial, and medical, despite being less advanced than AI chips. With Navitas being a producer of these very chips, the market responded favorably to the new developments, propelling its stock to unexpected heights. Navitas Outshines Peers Amid Market Rally While the geopolitical news positively impacted the broader semiconductor market, Navitas stood out with more significant gains. As a smaller entity in a volatile industry, Navitas has recently been hit hard, losing over 50% of its value earlier in the year due to downturns in key markets like industrial and automotive. The noteworthy bump in Navitas’ stock could also be attributed to the high short interest, intensifying the rally as investors rushed to cover their positions. Looking Ahead: The Risks vs. Rewards Despite today’s impressive rally, Navitas remains a speculative choice. Challenges such as lack of profitability and sector volatility contribute to its risky profile. Additionally, the company’s ties with Chinese tech firms might pose a threat if trade tensions escalate. For those cautious about risk, alternative investments in the semiconductor sector might offer a more stable path to potential average-long-term gains compared to Navitas’ volatile journey. The Semiconductor Stock Surge: The Navitas Phenomenon Innovations in Semiconductor Materials Drive Industry Forward The semiconductor industry is seeing a transformation with the increasing focus on innovative materials like silicon carbide (SiC) and gallium nitride (GaN). These materials offer unique benefits over traditional silicon, particularly in applications demanding high efficiency and performance, such as electric vehicles and renewable energy systems. Navitas Semiconductor Corporation, a key player in this space, stands out due to its advanced GaN solutions, which are pivotal in creating more efficient power electronics. Geopolitical Factors Influencing Market Dynamics The recent U.S. government investigation targeting Chinese semiconductor companies highlights the critical role geopolitics plays in shaping the semiconductor market. While the initiative seeks to secure U.S. interests and improve domestic technological capabilities, it also opens up new opportunities for companies like Navitas that specialize in non-traditional semiconductor materials. The investigation stirs interest in alternative suppliers and developers that can fulfill the growing demand without geopolitical constraints. Assessing Navitas: Pros and Cons The recent surge in Navitas’ stock underscores both optimism and caution in investment circles. Investors are drawn to its pioneering role in the GaN industry; however, they must weigh the prospects against its speculative nature. Pros: – Emergence as a leader in GaN technology – Increasing demand for SiC and GaN in fast-growing sectors – Potential benefits from geopolitical shifts Cons: – Ongoing challenges with profitability – High-sector volatility – Potential risks from international trade issues Trends and Predictions for Navitas and the Market As the industry leans more towards sustainability and efficient energy solutions, the demand for GaN and SiC is expected to climb. Navitas might see sustained interest as global efforts aim to reduce carbon footprints and enhance energy efficiency. However, the potential for trade restrictions looms large over the semiconductor landscape, necessitating a cautious approach. Exploring Alternative Investments Investors interested in the semiconductor sector but wary of volatility may look into well-established companies that offer more stability. These alternatives might not have the explosive growth potential of Navitas but promise gradual and consistent returns over the long term. For more insight into the latest developments and trends in the semiconductor industry, visit the Navitas Semiconductor website.Natixis Advisors LLC increased its stake in shares of Generac Holdings Inc. ( NYSE:GNRC – Free Report ) by 36.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,813 shares of the technology company’s stock after acquiring an additional 5,286 shares during the period. Natixis Advisors LLC’s holdings in Generac were worth $3,148,000 as of its most recent SEC filing. Several other institutional investors have also added to or reduced their stakes in the stock. Nicollet Investment Management Inc. raised its stake in shares of Generac by 1.1% in the 3rd quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock valued at $1,250,000 after purchasing an additional 82 shares during the period. Empirical Finance LLC grew its holdings in shares of Generac by 4.1% during the third quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock worth $268,000 after buying an additional 66 shares in the last quarter. CIBC Asset Management Inc boosted its position in Generac by 7.4% during the 3rd quarter. CIBC Asset Management Inc now owns 8,401 shares of the technology company’s stock worth $1,335,000 after acquiring an additional 579 shares during the last quarter. ING Groep NV bought a new position in shares of Generac during the 3rd quarter worth approximately $442,000. Finally, Huntington National Bank raised its holdings in shares of Generac by 1,145.7% in the third quarter. Huntington National Bank now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 401 shares during the last quarter. 84.04% of the stock is owned by institutional investors. Insiders Place Their Bets In related news, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website . Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This represents a 22.89 % decrease in their position. The disclosure for this sale can be found here . Insiders have sold 42,268 shares of company stock valued at $7,584,853 in the last ninety days. 2.90% of the stock is currently owned by insiders. Generac Stock Performance Generac ( NYSE:GNRC – Get Free Report ) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. As a group, equities research analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year. Analyst Upgrades and Downgrades Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Northland Securities raised their price target on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Roth Mkm upped their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group lifted their price objective on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler lifted their target price on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.58. Read Our Latest Report on GNRC Generac Company Profile ( Free Report ) Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products. Featured Articles Want to see what other hedge funds are holding GNRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Generac Holdings Inc. ( NYSE:GNRC – Free Report ). Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter .
Giants’ 10th straight loss showed once again that they need a young QBEAST RUTHERFORD, N.J. (AP) — If the Giants' franchise-record 10th straight loss proved anything, it's that New York could use a young franchise quarterback. Rookie Michael Penix Jr. showed what a young QB can do on Sunday against the Giants, who need to learn from it. The No. 8 overall pick in the draft, Penix played a nearly flawless game in his first career start to help the Falcons thrash the woeful Giants 34-7 in their best performance in weeks. The Giants gambled in 2019 that Daniel Jones would be their franchise QB and it really never panned out. The one exception was the 2022 season, when the No. 6 overall pick had a career year and led New York to a 9-7-1 record and a playoff berth in the first season after Joe Schoen was hired as general manager and Brian Daboll was named coach. The Giants even won a playoff game. With the release of Jones last month, the Giants (2-13) are now a team without a quarterback who can perform at the level required of an NFL starter. Tommy DeVito and Drew Lock have split the last four starts but neither has provided much of a spark for the league's worst offense. Lock handed the Falcons the game with two interceptions that were returned for touchdowns. To turn things around next season, the Giants must find a quarterback. “I’d say it’s very important,” Daboll said Monday. New York is going to have a high pick in the draft in Green Bay, Wisconsin, in late April. It could even be the No. 1 overall selection. Choosing the right quarterback is going to be hard. There isn't a can't-miss choice in 2025 draft and forcing one early would be a mistake. Unless the Giants are convinced that Cam Ward, Shedeur Sanders, Jalen Milroe or someone else is the next franchise player, they have have so many needs that it would be better to wheel and deal and fill as many holes as possible. Even if the Giants take a quarterback in the second round, there's bound to be someone available who has a chance to be better than what they have now. What’s working The calendar. The season ends in less than two weeks. What needs help The franchise is in disarray, and a shakeup appears likely. Daboll's future as the coach is not bright, considering the current skid and two straight losing seasons. Schoen has to share the blame and so do co-owners John Mara and Steve Tisch, who hired the GM and coach. Stock up LB Darius Muasau. The sixth-round draft pick out of UCLA has started the last three games since Bobby Okereke (back) was hurt and eventually put on injured reserve last week. Muasau had 11 tackles Sunday along with a quarterback hit and a tackle for a loss. He made the defensive calls after LB Micah McFadden left with a neck injury. Stock down Lock. In his starts, Lock has had three interceptions returned for touchdowns. He also lost a fumble on a strip-sack at Atlanta. Lock sustained a shoulder injury during the game and had an MRI on Monday. Injuries Besides Lock and McFadden, S Jason Pinnock (eye) also left the game. C John Michael Schmitz and RB Tyrone Tracy were evaluated for ankle injuries on Monday. Key number 1 — Thanks to the Raiders' victory over the Jaguars, the Giants will have the No. 1 overall pick in the draft with two more losses. Next steps For the ninth and final time, the Giants will try to find a way to win at MetLife Stadium. New York is 0-8 heading into Sunday's game against the Indianapolis Colts. Its only other winless season at home was in 1974 when New York played at the Yale Bowl in New Haven, Connecticut, while Giants Stadium was being built. ___ AP NFL: https://apnews.com/hub/nfl Tom Canavan, The Associated Press
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