JetBlue Airways Reaches Deal with Activist Investor Carl Icahn
JetBlue Airways has reached a deal with renowned activist investor Carl Icahn, which includes the appointment of two independent directors. This agreement successfully avoids a potential proxy fight between Icahn and JetBlue. As a result of the news, the airline's shares experienced a 3.7% after-hours increase, reaching $7.22.
Bowman Consulting Group's Preliminary Results Fall Short of Expectations
Bowman Consulting Group, an engineering services firm, announced that its preliminary results indicate net service billings and adjusted Ebitda to be lower than previously anticipated. The company attributes this setback to a larger-than-expected seasonal impact on utilization in December. As a consequence, shares plunged 8.8% after-hours, settling at $33.
Tupperware Brands Enters Forbearance Agreement as Strategic Alternatives are Considered
Tupperware Brands made it known on Friday that it has entered into a forbearance agreement with lenders as it explores potential strategic alternatives. Under this agreement, Tupperware's liquidity requirement has been reduced from $15 million to $10 million, providing the company with greater flexibility. Following the announcement, shares declined by 4.9% after-hours, reaching $1.36.
Analyst comment
JetBlue Airways: Positive news. The deal with Carl Icahn avoids a proxy fight and increases shareholder confidence. Expect JetBlue shares to continue rising.
Bowman Consulting Group: Negative news. Lower-than-expected billings and Ebitda due to seasonal impact. Anticipate a decline in Bowman shares.
Tupperware Brands: Negative news. Seek strategic alternatives with a reduced liquidity requirement. Expects Tupperware shares to decline further.
