Stock Markets

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Nextracker

Published

4 days ago

January 4, 2025

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Nextracker To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $75,000 in Nextracker between February 1, 2024 and August 1, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – January 3, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Nextracker Inc. (“Nextracker” or the “Company”) (NASDAQ: NXT) and reminds investors of the February 25, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the impact of project delays on Nextracker’s business, financial results, and prospects was far more severe than represented to investors; (2) permitting and interconnection delays had materially impaired Nextracker’s ability to convert backlog into revenue at historical conversion rates; (3) Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants; (4) Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and (5) consequently, defendants lacked a reasonable basis for their positive statements about Nextracker’s business, financial results, and prospects.

The Nextracker class action lawsuit further alleges that on August 1, 2024 Nextracker revealed that its revenue had declined sequentially, from $737 million in the fourth fiscal quarter of 2024 to $720 million during the first fiscal quarter of 2025. Similarly, Nextracker’s GAAP gross profit had declined sequentially from $340 million in the fourth fiscal quarter of 2024 to $237 million during the first fiscal quarter of 2025. Notably, Nextracker did not raise guidance for the first time since it became a public company, implying a slowdown in growth for the remainder of the year.

On this news, the price of Nextracker stock fell approximately 15% over two trading days.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information Nextracker’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235895

Stock Markets

Isabella Bank CEO Jerome Schwind buys shares for $400

Published

15 hours ago

January 7, 2025

Jerome E. Schwind, President and CEO of Isabella Bank Corp (OTC:ISBA), recently purchased shares in the company. According to a filing with the Securities and Exchange Commission, Schwind acquired 16.2009 shares of common stock on January 2, 2025, at a price of $24.69 per share, amounting to a total transaction value of approximately $400. The purchase comes as the stock trades near its 52-week high of $26.23, with the company maintaining a solid 4.31% dividend yield and a modest P/E ratio of 13.6. InvestingPro analysis suggests the stock is slightly undervalued at current levels. This purchase increased Schwind’s direct ownership to 28,481.732 shares, which includes shares acquired through quarterly dividend reinvestment. The company has maintained dividend payments for 17 consecutive years, demonstrating strong shareholder commitment. InvestingPro subscribers can access 6 additional key insights about Isabella Bank Corp’s financial health and growth prospects.

In other recent news, Isabella Bank Corp has been in the spotlight due to a range of developments. Piper Sandler has raised the price target for the bank’s shares to $24.00 from $22.00, maintaining a Neutral rating. This decision came after a review of the bank’s third-quarter performance, which showed a 3% pre-provision net revenue (PPNR) upside, driven by net interest margin (NIM) expansion. The bank also experienced strong organic balance sheet growth.

Furthermore, Isabella Bank disclosed a potential loss of approximately $1.6 million due to negative balances in deposit accounts associated with a single customer. The total exposure to this customer, which includes loans and lines of credit secured by various assets, amounts to $4.0 million. The bank is currently assessing the potential credit losses.

In terms of earnings projections, Piper Sandler raised its earnings per share (EPS) estimates for the fourth quarter of 2024 and the full year 2025 to $0.49 and $2.40, respectively. The firm also established an EPS estimate of $2.70 for the year 2026. Lastly, Isabella Bank declared a third-quarter cash dividend of $0.28 per common share, reflecting its commitment to enhancing shareholder value.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

Isabella bank’s CFO William Schaefer buys shares worth $3,999

Published

15 hours ago

January 7, 2025

William M. Schaefer, the Chief Financial Officer of Isabella Bank Corp (OTC:ISBA), recently acquired additional shares of the company. According to a recent SEC filing, Schaefer purchased 162 shares of Isabella Bank common stock on January 2, 2025, at a price of $24.69 per share. The stock, currently trading near its 52-week high of $26.23, has shown impressive momentum with a 40% gain over the past six months. InvestingPro analysis suggests the stock is currently undervalued. This transaction amounted to a total value of $3,999. Following this acquisition, Schaefer’s direct ownership in the bank increased to 6,005 shares. It is noted that this includes shares acquired through quarterly dividend reinvestment. The bank maintains a notable 4.31% dividend yield and has consistently paid dividends for 17 consecutive years, according to InvestingPro data.

In other recent news, Isabella Bank Corp has been the subject of several significant developments. Piper Sandler has raised the price target for Isabella Bank shares to $24, maintaining a Neutral rating. This adjustment comes after an analysis of the bank’s third-quarter performance, which showed a 3% pre-provision net revenue (PPNR) upside driven by net interest margin (NIM) expansion. The firm also revised its earnings per share (EPS) estimates for the fourth quarter of 2024 and the full year 2025 to $0.49 and $2.40, respectively, based on higher net interest income (NII) assumptions.

On another note, Isabella Bank faces a potential loss of approximately $1.6 million due to negative balances in deposit accounts associated with a single customer, with the total exposure to this customer amounting to $4.0 million. The bank is currently assessing the potential credit losses. Despite this, Piper Sandler maintained a Neutral rating on the bank’s shares.

Additionally, the bank declared a third-quarter cash dividend of $0.28 per common share, reflecting its commitment to enhancing shareholder value. Piper Sandler highlighted the bank’s attractive 5.6% dividend yield, surpassing the peer average of 3.2%. These recent developments provide insights into the bank’s financial performance and future expectations as per analysts’ projections.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

CME Group Inc. Announces Fourth-Quarter and Year-End 2024 Earnings Release, Conference Call

Published

15 hours ago

January 7, 2025

CHICAGO, Jan. 6, 2025 /PRNewswire/ — CME Group Inc. (NASDAQ:) will announce earnings for the fourth quarter and full year of 2024 before the markets open on Wednesday, February 12, 2025. Written highlights for the quarter will be posted on the company’s website at 6:00 a.m. Central Time, the same time it provides its earnings press release. The company will also hold an investor conference call that day at 7:30 a.m. Central Time, at which time company executives will take analysts’ questions.

A live audio Webcast of the conference call will be available on the Investor Relations section of the company’s website. Following the conference call, an archived recording will be available at the same site. Those wishing to listen to the live conference via telephone should dial 877-918-3040 if calling from within the United States, or +1 312-470-7282 if calling from outside the United States, at least 10 minutes before the call begins. The participant passcode for both telephone numbers is 1944793.

As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data “ empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The is a product of S&P Dow Jones Indices LLC (“S&P DJI”). “S&P ®”, “S&P 500 ®”, “SPY ®”, “SPX ®”, US 500 and The 500 are trademarks of Standard & Poor’s Financial Services LLC; Dow Jones ®, DJIA ® and are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.