CALGARY, Alberta – Total Energy Services Inc. (TSX:TOT) has announced its intention to launch a normal course issuer bid (NCIB), allowing the company to repurchase up to 5% of its outstanding common shares. The buyback program is set to commence on October 21, 2024, and will run until October 20, 2025, through the facilities of the Toronto Stock Exchange and other Canadian alternative trading systems. The company has received approval from the TSX to proceed with the buyback, which is expected to enhance shareholder value by increasing the proportionate equity of remaining shareholders. Total Energy may repurchase up to 1,909,732…
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While not a mind-blowing move, it is good to see that the Culp, Inc. (NYSE:CULP) share price has gained 11% in the last three months. But that doesn’t change the fact that the returns over the last half decade have been disappointing. In fact, the share price has declined rather badly, down some 61% in that time. So we’re hesitant to put much weight behind the short term increase. Of course, this could be the start of a turnaround.With that in mind, it’s worth seeing if the company’s underlying fundamentals have been the driver of long term performance, or if…
General Motors has retained its top position in the US automotive market for the first nine months, surpassing Toyota by a significant margin of over 220,000 vehicles. Despite a commendable 6.2% increase in sales compared to the previous year, Toyota has been unable to catch up to GM’s dominance. One of the driving forces behind Toyota’s success has been the unwavering popularity of its mid-size sedan, the Camry. With an all-new generation, the Camry has consistently attracted a large customer base. However, the RAV4, the pioneer of compact crossover SUVs, has also defied expectations by maintaining its strong appeal. Toyota…
US dairy group Shamrock Farms is investing in one of its production facilities to meet “growing national demand”.The project at Shamrock Farms’ milk manufacturing facility in Augusta County, Virginia will see the company add a new production filling line and cold-storage space at the site.Phoenix-based Shamrock Farms is investing $59m in the plans, which are scheduled to be completed in 2028. It will receive a $900,000 in state-government grants.Shamrock Farms’ products are available in all 50 states through retailers and quick-service restaurants. Its retail customers include Kroger, Publix and Dollar General.Besides Virginia, the family-owned company operates production facilities in Arizona.…
Shelby American has recently revealed its latest creations, the V6-powered Ford F-150 Raptor and the V8-powered Raptor R. These high performance pickup trucks are set to make their public debut at the upcoming Barrett-Jackson event in Scottsdale, Arizona. The F-150 Raptor, in particular, has been transformed into a formidable beast with over 900 horsepower. Shelby American has been known for its ability to take Ford models and turn them into ferocious machines, and the 2024 Shelby Baja Raptor is no exception. This latest iteration of the F-150 Raptor is designed to dominate both on and off-road, with its aggressive styling…
Image source: Getty Images The FTSE 100 rose nearly 1% yesterday (16 October), finishing the day at 8,329 points. This came after monthly inflation in the UK fell below 2% for the first time since 2021. The expectation is that interest rates will now head lower. Consequently, the index is a whisker away from reaching a new all-time record. To achieve this, it’d need to surpass the 8,445 figure set in May. Admittedly, that seems like tortoise stuff compared to the racing hare that’s the S&P 500. The US blue-chip index is up 22.5% since the start of January and…
(Reuters) – US chip stocks rose before the bell on Thursday after industry bellwether TSMC’s (TSM, 2330.TW) strong sales forecast fanned investor optimism about demand for processors used to power artificial intelligence applications.Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, raised its expectation for annual revenue growth and said sales from AI chips would account for mid-teen percentage of its full-year revenue.The forecast from the leading producer of advanced AI chips reinforced investor confidence in the outlook for chipmakers whose market values have skyrocketed over the past two years due to a surge in chip spending by Big Tech.US-listed…
The Hyundai Ioniq 6, a sleek electric sedan, has encountered a significant drop in sales in recent months, prompting the Korean automaker to consider a mid cycle refresh. Production of the current model began just over two years ago, and with the updated design now in development, Hyundai hopes to revitalize interest in this electric vehicle. Spy photos suggest that the 2026 Ioniq 6 will feature a more conventional and appealing exterior, with revised front and rear bumpers and lighting signatures. While the profile remains largely unchanged, the interior may receive minor tweaks. Hyundai Ioniq 6 Faces Sales Decline, New…
Travelers Insurance offices in New York City.Adam Jeffery | CNBCTravelers Companies’ third-quarter profit beat Wall Street expectations as higher underwriting gains and investment income more than offset steep catastrophe losses, sending shares of the insurer up nearly 7%.Individuals and businesses are spending more on insurance, allowing insurers to attract and retain clients despite higher prices for some policies such as auto and property.Core income of Travelers, often seen as a sector bellwether as it typically reports results before peers, jumped nearly three-fold to $1.22 billion, or $5.24 per share, in the three months ended Sept. 30. Analysts polled by LSEG…
On Thursday, B.Riley upgraded Alcoa Corp (NYSE: NYSE:) stock from Neutral to Buy, raising the price target from $41 to $50. The decision follows Alcoa’s successful implementation of profitability savings programs and the advantageous high alumina prices. The company’s third-quarter results showcased an adjusted EBITDA of $455 million, surpassing both B.Riley’s projection of $383 million and the FactSet consensus of $386 million. The firm has also revised its forecast for Alcoa’s 2025 adjusted EBITDA, increasing the estimate from $1,764 million to $2,412 million. This revision suggests a 2025 free cash flow to equity (FCFE) of $983 million, which would represent…