HomeNewsMarket Highlights: Here are the key moments from yesterday

Market Highlights: Here are the key moments from yesterday

  • Victoria’s Secret stock spiked 3% following share repurchase announcement.
  • FuelCell Energy posted a loss for their fourth quarter.
  • NV5 is expected to acquire Optimal energy with a close date before 31st December.

Victoria’s Secret shares a $250 million buyback plan on Wednesday

Victoria’s Secret & Co (NYSE:VSCO) got a sudden 3% rise in their shares after they announced their buyback plan of $250 million. The company also supports its fiscal fourth-quarter outlook which was issued in line. The fiscal Q4 earnings per share expected by the company is in the range of $2.35 – $2.65.

FuelCell has reported a loss of $24.98 million in their last quarter

FuelCell Energy, Inc, (NASDAQ:FCEL), the fuel company reported its fourth quarter loss, showing higher expenses. They had a loss of $24.98 million or $0.07 per share for the fourth quarter in the month of October. Exactly last year, they had the loss of $19.65 million or $0.08 per share. The company’s fiscal moved from $22.55 million against $17.12 million reported for the three-month period to October 2020.

NV5 is expected to acquire Optical Energy  

NV5 Global, Inc. (NASDAQ: NVEE), is an energy consultancy company focused on energy consultancy which mainly focuses on energy-efficiency, demand management, and renewable energy. The company is expected to acquire Optimal energy by 31st December. Dickerson Wright, PE, Chairman and CEO of NV5 told that the company’s energy efficiency and clean energy business has driven strong organic growth, and Optimal is the fourth acquisition they had made in that sector.

Sonoco recycling acquires Western North Carolina-based American Recycling

Sonoco Products Company (NYSE:SON), reveals that its subsidiary, Sonoco Recycling has acquired American Recycling. The Western North Carolina-based is expected to have an annual sales of $9 million 2021 with a processing capacity of 30,000 tons. The General Manager of Sonoco Recycling says that the acquisition provides Sonoco’s mill operations with a stable, lower-cost supply of recovered fiber with the opportunity to grow volumes in the region.  

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