Author: Multibagger News

Optical Cable Corporation (NASDAQ:OCC), a manufacturer of a range of fiber optic and data communication cabling and connectivity solutions, has entered into an agreement with North Mill Capital LLC, extending its credit facility until July 24, 2027. This extension adds two years to the existing agreement, which was set to expire in 2025. The modification, dated June 27, 2024, amends the Loan and Security Agreement originally executed on July 24, 2020, and subsequently modified on July 5, 2022. The agreement increases the Eligible Inventory maximum and modifies some other terms and conditions. Under the new terms, the credit facility remains…

(Multibagger) – Amazon (NASDAQ:) founder and executive chair Jeff Bezos is planning to sell almost $5 billion worth of shares in the e-commerce giant, a regulatory filing showed, after its stock hit a record high. The proposed sale of 25 million shares was disclosed in a notice filed after market hours on Tuesday. The stock had hit an all-time high of $200.43 during the session. It has jumped more than 30% so far this year, outpacing the 4% gain in the index. After the sale plan, Bezos would own about 912 million Amazon shares, or 8.8% of the outstanding stock.…

By Huw Jones LONDON (Multibagger) -Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday, a year later than originally indicated. “These disclosures aim to enhance information availability and support market discipline,” the Basel Committee on Banking Supervision said in a statement. The committee, made up of banking regulators from the world’s main economies who commit to applying agreed standards, discussed the prudential or impact on capital of tokenised deposits and stablecoins, a cryptocurrency backed by an asset such as the dollar. Based on current market developments, risks…

According to a report from the New York Times, US President Joe Biden is “seriously considering withdrawing” from the presidential election race. The publication reported Wednesday that Biden told a key ally that he is aware he may not be able to salvage his candidacy if he is unable to convince the public that he is up for the job over the next few days. It follows a disastrous performance from the president in last week’s first presidential debate against presumptive Republican nominee, Donald Trump. The NYT said Biden’s ally emphasized that Biden is still “deeply in the fight for re-election.”…

On Wednesday, Morgan Stanley reiterated its Overweight rating on shares of Constellation Brands (NYSE:), with a steady price target of $305.00. The firm anticipates a favorable reaction in the stock market due to the company’s beer segment outperforming the tempered expectations and delivering robust margins and corporate earnings per share (EPS), despite ongoing challenges in the wine and spirits business. Constellation Brands reported a 6.4% increase in beer depletions for the first quarter, surpassing the revised forecast range of 5-6% and the initial consensus of over 7%. This performance comes after recent scanner data indicated a potential slowdown, although the…

The first presidential debate sparked strong reactions, and Evercore analysts have been closely monitoring the responses from pundits, the press, President Biden’s campaign, senior Democrats loyal to Biden, financial support trends, and particularly the polls. After assessing these factors for the past two days, Evercore now believes there is a chance of more than 60% that President Joe Biden may withdraw from the race in the near future. Although pundits and the press remain highly critical of the President, significant attention has been drawn to statements from staunch allies like Pelosi and Clyburn, who publicly acknowledged on Tuesday that there…

FRANKFURT (Multibagger) – Solid container shipping demand has driven up freight rates over the past two months, Hapag-Lloyd chief executive (DE:) Rolf Habben Jansen said in a call with reporters on Wednesday. Attacks on vessels by Yemen-based Houthi militants have led shipping firms to avoid the Red Sea that connects with the Suez Canal and instead use a longer route around southern Africa, a situation whose end was hard to predict, he said. “We have seen solid demand, particularly since May 1, that meets with limited availability, also because of the Red Sea situation, that’s why spot rates are going…

BERLIN (Multibagger) – A solid rise in business activity in June ended a positive second quarter for the German service sector, albeit with the rate of expansion easing slightly, a survey showed on Wednesday. The HCOB final services Purchasing Managers’ Index eased to 53.1 in June from to 54.2 in May, slightly below a preliminary flash estimate of 53.5 but above the 50.0 mark that separates growth from contraction for a fourth straight month. Growth in new business and employment also slowed, while firms’ expectations for the coming year slipped to a five-month low, the survey showed. “The services sector…

WASHINGTON (Multibagger) -U.S. President Joe Biden has told an ally that he knows he may not be able to salvage his candidacy if he cannot convince the public in the coming days that he is up for the job after his debate performance last week, the New York Times reported on Wednesday. After the report was published, White House spokesperson Andrew Bates wrote on social media: “This claim is absolutely false”. The Times quoted the ally as saying that Biden “knows if he has two more events like that, we’re in a different place” by the end of the weekend.…

WASHINGTON – CLEAR (NYSE: YOU), an authorized provider for TSA PreCheck® enrollments, has broadened its service reach by inaugurating six additional enrollment centers across various U.S. airports. These new facilities are part of the company’s strategy to enhance customer convenience by offering more locations and extended operating hours for those seeking to enroll or renew their membership in the Trusted Traveler program. The expansion brings the total number of CLEAR’s TSA PreCheck enrollment locations to 33 nationwide. The latest airports to feature these services include Boise Airport (BOI), Dallas Love Field Airport (DAL), Chicago Midway International Airport (MDW), Ontario International…