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Redwood Trust Reports Q3 Preliminary Results; Stock Up 5%

Shares of Redwood Trust, Inc. (RWT) gained ove 5% in extended hours on Thursday after the company announced preliminary results for the third quarter.

The company estimates that at September 30, 2022, GAAP book value per share was in a range of $10.15 to $10.25, a 4.9% to 5.8% decrease from $10.78 at June 30, 2022

The company said it maintained robust balance sheet with unrestricted cash of $297 million and unencumbered assets of approximately $500 million at September 30, 2022

RWT closed Thursday’s trading at $6.07, up $0.13 or 2.19%, on the NYSE. The stock further gained $0.33 or 5.44%, in the after-hours trading.

Opinion | This Is What Happens When Race Is Everything

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The Art of Dividing Up a Marriage

It’s impossible to know how you will feel in the aftermath of divorce until you’re experiencing it.

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TomTom Posts Narrower Loss In Q3; Revenue Up 7%

TomTom (TMOAF.PK) said it recorded better-than-expected revenue in the third quarter, driven by Location Technology business. For full year 2022, the Group projects revenue, both on group level as well as for Location Technology, to outperform initial guidance.

“Macroeconomic uncertainties and inflationary pressures have an impact on global car production as well as our cost levels. For 2023, we reiterate our revenue guidance, but lower the free cash flow guidance to break-even,” said Taco Titulaer, CFO.

Net result was a loss of 17.5 million euros compared to a loss of 20.8 million euros, prior year. Loss per share was 0.14 euros compared to a loss of 0.16 euros. Revenue for the third quarter was 136 million euros, an increase of 7% year on year.

For fiscal 2022, the Group expects revenue in a range of 505 million euros to 520 million euros. For fiscal 2023, the Group now expects revenue in a range of 500 million euros to 550 million euros.

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Mondi Plc Q3 Underlying EBITDA From Cont. Ops. Excl. Russian Operations Up 55%

Mondi plc (MNDI.L) reported that its third quarter underlying EBITDA from continuing operations excluding Russian operations was 450 million euros, up 55% from last year. The Group noted that higher average selling prices and overall volume growth more than offset significant cost pressures.

Mondi plc said its 1 billion euros expansionary capital investment programme is progressing well, and expects these projects to deliver mid-teen returns when in full operation.

Looking forward, the Group is confident that it will continue to demonstrate resilience and deliver a year of good progress.

Viasat, Inmarsat To Co-operate With CMA’s Phase 2 Probe Into Proposed Merger

Viasat Inc. (VSAT), a communications firm, and Inmarsat, a provider of mobile satellite communications services, said on Friday that they look forward to work with the UK’s Competition and Markets Authority or CMA and narrate the benefits of their proposed merger.

The companies’ statement follows the market regulator’s announcement on Friday that it will refer the transaction to a Phase 2 probe.

“Viasat and Inmarsat remain confident that the transaction will increase the availability of more affordable, faster, and more reliable IFC globally to operators, airlines, and passengers. While the market is still nascent, existing providers Panasonic and Intelsat combined represent more than 75% of the long-haul IFC market,” both parties said in a statement.

The proposed transaction has already obtained several major regulatory approvals.

In November 2021, Viasat agreed to acquire Inmarsat in a deal valued at $7.3 billion, comprised of $850.0 million in cash, approximately 46.36 million shares of Viasat common stock valued at $3.1 billion, and the assumption of $3.4 billion of net debt.

Pre-market Movers: ATXI, NVIV, PRTC, IVA, ARBK…

The following are some of the stocks making big moves in Friday’s pre-market trading (as of 06.30 A.M. ET).

In the Green

InVivo Therapeutics Holdings Corp. (NVIV) is up over 23% at $9.84
Inventiva S.A. (IVA) is up over 15% at $4.80
Aehr Test Systems (AEHR) is up over 13% at $15.79
DexCom, Inc. (DXCM) is up over 7% at $102.34
Credit Suisse Group AG (CS) is up over 7% at $4.61
BRC Inc. (BRCC) is up over 6% at $7.20
IDT Corporation (IDT) is up over 5% at $29.55

In the Red

Avenue Therapeutics, Inc. (ATXI) is down over 54% at $2.86
PureTech Health plc (PRTC) is down over 18% at $25.41
Argo Blockchain plc (ARBK) is down over 14% at $3.55
Atlis Motor Vehicles, Inc. (AMV) is down over 6% at $22.86
Lantheus Holdings, Inc. (LNTH) is down over 5% at $70.79
Advanced Micro Devices, Inc. (AMD) is down over 5% at $63.95
Dingdong (Cayman) Limited (DDL) is down over 5% at $3.61

Opinion | This Is How to Put the Supreme Court in Its Place

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