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RLX Technology Q2 Adj. Net Income To Co. Rises

Games Workshop Q1 Earnings Decline, But Sales Rise

Games Workshop Group Plc (GAW.L), a British maker of war games, said in trading update on Wednesday that earnings for the first quarter declined. However, sales improved from last year.

For the three-month period to August 28, the company has posted a pre-tax profit of around 39 million pounds, compared with 45 million pounds a year ago.

Core revenue was at circa 106 million pounds, higher than last year’s 98 million pounds.

The Nottingham headquartered firm added that its trading for the period was in line with its expectations.

Games Workshop has also declared a dividend of 30 pence per share, to be paid on November 4, for shareholders of record on September 30.

Schneider Electric Reaches Agreement To Acquire 100% Ownership Of AVEVA

The boards of Schneider Electric and Bidco and the AVEVA Independent Committee have reached agreement on the terms of a recommended cash acquisition by which the entire issued and to be issued share capital of AVEVA will be acquired by Bidco, an indirect subsidiary of Schneider Electric SE. The deal excludes AVEVA Shares held by Samos, an indirect wholly owned subsidiary of Schneider Electric.

AVEVA shareholders will be entitled to receive: for each AVEVA Share: 3,100 pence in cash. The deal values the entire issued and to be issued share capital of AVEVA at approximately 9.48 billion pounds, implying an enterprise value of 10.15 billion pounds.

Any interim dividend of up to 13 pence per AVEVA share which is declared by the board of AVEVA and paid in respect of the six-month period ending 30 September 2022 will be paid to AVEVA Shareholders without any reduction in the consideration.

Opinion | Can Republicans Tax the Rich?

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Germany Nationalizes Gas Giant Uniper

German energy major Uniper SE (UNPRF.PK), said on Wednesday that the German Government has acquired its shares held by Fortum Oyj, a Finnish energy company, for 1.70 euros per share, to own around 99 percent stake in the company.

Post acquisition, the credit line provided by Fortum, which includes a 4 billion euros shareholder loan, and 4 billion euros guarantee line, will be replaced by the Government.

In addition, a capital increase of 8 billion euros at an issue price of 1.70 euros per share has been planned. The shares issued as part of the capital increase will be subscribed by the Federal Government.

The state-owned lender KfW has agreed to pump necessary financing to Uniper based on its liquidity needs.

The moves, jointly decided by the Federal Government, Uniper, and Fortum have allowed an amendment to the package announced on July 22, to ensure the long-term stabilization of Uniper in the wake of persisting crisis in the global energy market.

Klaus-Dieter Maubach, CEO of Uniper, said: “Today’s agreement provides clarity on the ownership structure… This secures the energy supply for companies, municipal utilities, and consumers. The amendment of the stabilization package announced in July was necessary against the backdrop of the further intensification of the energy crisis.”

Pre-market Movers: DWIN, SES, KSPN, NRBO, EPM…

The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.15 A.M. ET).

In the Green

Delwinds Insurance Acquisition Corp. (DWIN) is up over 17% at $10.15
SES AI Corporation (SES) is up over 13% at $5.98
NeuroBo Pharmaceuticals, Inc. (NRBO) is up over 11% at $33.40
Evolution Petroleum Corporation (EPM) is up over 11% at $7.54
8×8, Inc. (EGHT) is up over 10% at $4.96
MAG Silver Corp. (MAG) is up over 8% at $13.78
AMTD Digital Inc. (HKD) is up over 6% at $48.90
Graphex Group Limited (GRFX) is up over 6% at $2.14
Energy Vault Holdings, Inc. (NRGV) is up over 5% at $4.43

In the Red

Kaspien Holdings Inc. (KSPN) is down over 12% at $2.51
POINT Biopharma Global Inc. (PNT) is down over 8% at $9.28
Infobird Co., Ltd (IFBD) is down over 7% at $2.28
PaxMedica, Inc. (PXMD) is down over 6% at $3.95
Comera Life Sciences Holdings, Inc. (CMRA) is down over 6% at $3.60
Organovo Holdings, Inc. (ONVO) is down over 6% at $2.27

‘Meet Cute’ Review: Live. Date. Repeat.

This time-loop rom-com takes another swing at the tried-and-true “Groundhog Day” premise.

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RLX Technology Q2 Adj. Net Income To Co. Rises

RLX Technology Inc. (RLX) reported second quarter non-GAAP net income per ADS of RMB 0.492, compared to RMB 0.467, prior year. Non-GAAP net income to company was RMB 654.2 million, compared with RMB 651.8 million, last year.

GAAP net income was RMB 441.6 million, compared with RMB 824.3 million, previous year. GAAP net income per ADS was RMB 0.347 compared to RMB 0.591.

Net revenues were RMB 2.23 billion, compared with RMB 2.54 billion, a year ago. The company said the decrease was primarily due to the suspension of store expansions and new product launches during the transition period to comply with regulatory requirements.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.