Natura & Co SA [NTCO] - Last Close: $65.96
Natura just landed a big deal to sell a major asset.
The cosmetics company has agreed to sell its Aesop unit to French skincare giant L'Oreal Co. [LRLCY] in a $2.525 billion deal.
Natura acquired the Aesop brand in 2012, and the business generated $537 million in sales in fiscal 2022.
The transaction is expected to close in Q3 of 2023.
Natura said it will use the cash injection to strengthen its balance sheet and free up resources to focus on "strategic priorities."
NTCO is one of today's top stocks with a 13.3% gain.
My Take: The market seems to like this deal. If NTCO can close above $6, it could find new support at that level.
Butterfly Network [BFLY] - Last Close: $1.87
A recent announcement is lifting shares of Butterfly network.
The ultrasound manufacturer said late Monday that the U.S. FDA had approved its AI-enable Auto B-line Counter for use in evaluating adults with lung issues.
The company said its Auto B-line Counter "leverages deep learning technology to produce a B-line count from just a six second ultrasound clip."
Butterfly Network said it expects to launch the technology in the U.S. early this summer.
BFLY is up 24.0% on active trade volume in light of the news.
My Take: There's not much to write home about when you look at BFLY's chart, but this approval could give it the foothold it needs to reverse course. Volume has spiked over the past few session, a potential signal that a big move is coming.
Rubicon Technologies [RBT] - Last Close: $0.5967
Rubicon Technologies is rallying in today's premarket.
Shares of the digital marketplace firm fell 9.0% on Monday after the company announced it had received a non-compliance notice from the NYSE.
Rubicon became non-compliant after its share prices fell below the NYSE's $1 minimum bid requirement for 30 consecutive days.
The stock set a new 52-week low on the news.
However, the company has committed to resolving the issue within the six-month grace period, and shares are rebounding in today's premarket.
RBT is currently one of this morning's top premarket stocks with a 24.0% gain.
My Take: I'm not very confident in the staying power of this rally. Look for trade opportunities elsewhere.
AMC Entertainment Pref Shares [APE] - Last Close: $1.48
AMC Entertainment is making headlines again.
The meme stock movie company has been drawing flack for its issuance of preferred shares designated with ticker symbol APE.
After a long legal dispute, the company has finally agreed to settle the matter.
AMC Entertainment recently stated it has agreed to settle litigation and move forward with converting its preferred shares into common stock.
APE is rallying on the news. Shares are up 22.9% on active trading volume.
My Take: I am not sure what the exchange rate will be for APE, but there could be an opportunity to get into shares of AMC for below the market price.
