Top Parkland Holder Backs Sunoco Deal, Urges Others to Adhere
The top shareholder in Parkland Corp. said it supports the Canadian fuel distributor's proposed takeover by Sunoco LP, describing the deal as a turning point for the company.
Barbados-based investment firm Simpson Oil Ltd., which holds 19.8% of Parkland's outstanding common shares, said it will vote in favor of the transaction and urged other shareholders to do the same.
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Associated Press
18 minutes ago
- Associated Press
Faruqi & Faruqi Reminds NET Power Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 17, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In NET Power To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in NET Power between June 9, 2023 and March 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 7, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) and reminds investors of the June 17, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (2) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times. On November 14, 2023, during pre-market hours, Net Power issued a press release announcing its third quarter 2023 results and providing a business update. Therein, the Company disclosed that "[d]ue to . . . tightness in the global supply chain, we are incorporating a 12-month cushion into our expected schedule for Project Permian' with Defendants 'now expecting to achieve initial power generation sometime between the second half of 2027 and first half of 2028.' This represented a significant delay from Defendants' initial schedule to have the plant operational by 2026. On this news, Net Power's stock price fell $2.47 per share, or 18.54%, to close at $10.85 per share on November 14, 2023. On March 10, 2025, during pre-market hours, Net Power issued a press release announcing its fourth quarter and full year 2024 results and providing a business update. Therein, Net Power disclosed that it 'now estimates Project Permian's total installed cost to be between $1.7 billion and $2.0 billion"-significantly higher than its last estimate of $1.1 billion-"which is inclusive of non-recurring first-of-a-kind, Project Permian site-specific and owner costs[,]' advising that 'there are a number of site- and region-specific challenges which impact cost.' The Company further advised that Project Permian 'would come online no earlier than 2029[,]' representing a significant delay from its prior timeline of sometime between the second half of 2027 and first half of 2028. In addition, Net Power reported that it ended 2024 'with $533 million in cash, cash equivalents, and investments, down from $580 million last quarter, primarily due to $13 million in operating cash outflows and $29 million in capital expenditures for La Porte upgrades and SN1 development.' On this news, Net Power's stock price fell $2.18 per share, or 31.46%, to close at $4.75 per share on March 10, 2025. Then, on April 15, 2025, Net Power issued a press release announcing that its President and Chief Operating Officer ('COO') and Chief Financial Officer would depart the Company on May 1, 2025, and that the Company had appointed a new COO, effective immediately. On this news, Net Power's stock price fell $0.13 per share, or 5.75%, to close at $2.13 per share on April 16, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding NET Powers' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the NET Power class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit
Yahoo
22 minutes ago
- Yahoo
3 False Alarms That Sent the Stock Market Into a Frenzy (And How To Protect Your Money)
The stock market is often driven by emotion. Information breaks about a company struggling to reach profitability or wider economic news is communicated, and it can send the markets into hysteria. Pair that with social media, and it can cause real problems. Investors choosing to act on such emotion can create a real problem for their portfolios, particularly if the information isn't 100% accurate. Be Aware: Check Out: Protecting assets is essential for Americans as misinformation or lack of clarity rattles markets. Here are three times a false alarm brought turmoil to stocks and how to protect your money in those times. Hysteria in the market doesn't always mean it's a bad day for stocks. News around President Donald Trump's sweeping tariffs is one example. After Trump's Liberation Day for tariffs, the market saw vast losses impacting investors. That was until an inaccurate X post claimed the White House was considering a 90-day pause of tariffs. The news brought jubilee, with markets spiking nearly 10%, or $2.4 trillion in value, according to the Wall Street Journal. Unfortunately, the information was incorrect. The tweet, attributed to Walter Bloomberg, was ultimately deleted. The Wall Street Journal states the source of the information remains uncertain. The rally was brief, with the market closing largely flat for the day, with the S&P 500 up roughly 100 points. Read Next: Artificial intelligence (AI) has taken the markets by storm. Tech stocks, in particular, have benefited from the explosion of AI. When Chinese startup DeepSeek introduced a new, free AI assistant that claims to use significantly less data, the market reacted swiftly. On Jan. 27, investors worldwide unloaded tech stocks out of fear that DeepSeek would quickly amass power. Nvidia led the losers, creating a loss of $593 billion, according to Reuters, which was a record single-day loss in terms of market cap for any listing on Wall Street. Other companies joined in monumental losses, with the Nasdaq closing down over 4% for the day. Things aren't as bleak for Nvidia today, with the stock trading at roughly the same price it did at the beginning of 2025. The Nikkei in Japan is a leading stock exchange worldwide. It experienced tumult in August 2024 over fears related to issues with Yen carry trade. Fear spiked that investors would need to sell holdings to cover losses tied to their yen trades. The result was a loss not seen since 1987, with the Nikkei falling 12% on Aug. 5, 2024, according to Reuters. The S&P 500 followed, losing 8% in a two-day period. Thankfully, the loss was short-lived, as Reuters notes that the S&P 500 recovered its losses within two weeks, and the Nikkei followed suit in a month. Protecting assets can be a challenge for many Americans during false alarms in the stock market. Selling stocks is an understandable knee-jerk reaction. Such action can easily derail years of planning, especially if it's on the heels of fake headlines. Diversifying your portfolio weekly and rebalancing it regularly are good ways to safeguard assets. Volatility in the market is normal, but proper due diligence is crucial before making rash decisions that could result in significant losses. If you have a financial advisor, consider speaking with them to verify you're on target with your investment plan. Social media and potentially false headlines can drive emotion. Before making fearful decisions, do research to verify validity before taking action that could lead to needlessly painful losses. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 7 Things You'll Be Happy You Downsized in Retirement Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck This article originally appeared on 3 False Alarms That Sent the Stock Market Into a Frenzy (And How To Protect Your Money) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
US housing market now has 500K more sellers than buyers — and it's leading to a shift in the balance of power
The tables are turning in the U.S. housing market, and this time, buyers are calling the shots. There are an estimated 1.9 million homes for sale across the country, but only about 1.5 million active homebuyers. That leaves a gap of nearly 500,000 — the largest on record, according to Redfin. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) 'The balance of power in the U.S. housing market has shifted toward buyers, but a lot of sellers have yet to see or accept the writing on the wall,' said Redfin Senior Economist Asad Khan. 'Many are still holding out hope that their home is the exception and will fetch top dollar.' U.S. home prices were still up 3.9% year over year in February — a slight dip from January's 4.1% gain — but a growing supply of homes and easing mortgage rates are cooling the market, according to the S&P CoreLogic Case-Shiller Home Price Index. That's left some sellers — especially those who bought at the peak — trying to recoup their investment just as buyer demand starts to slow. With listings rising and buyers getting more selective, the big question is: Is now the best time to sell? Redfin economists expect home prices to dip by about 1% by the end of 2025. Demand is already down. Sales of existing homes fell 1.1% year over year in April, hitting a six-month low. Buying a home remains a major financial leap. With economic uncertainty fueled by tariffs, layoffs and shifting federal policies, many would-be buyers are hitting pause on one of life's biggest purchases. Sellers are already feeling the sting. Take a single-family home in Sonoma, California: once listed for over $3.5 million during the pandemic boom, the 3-bedroom, 4-bathroom property eventually sold for $1.86 million — nearly half its original price. The home saw several price cuts before it sold in April for 6.8% below its most recent $1.995 million asking price, according to Zillow, as reported by Newsweek. That sale reflects how far the market has come from its 2021 peak. Back then, rock-bottom mortgage rates and limited inventory fueled bidding wars and drove up prices. But now, things look different. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it If you're thinking about selling, don't wait too long. Listing sooner could help you avoid chasing a cooling market. And if your home's already listed and not getting much attention, it may be time to switch gears — whether that means adjusting your asking price or making small, high-impact upgrades to help it stand out. Many homeowners are still pricing based on what they paid during the market's pandemic-era peak, not what today's market will bear. 'A lot of the people selling right now bought in 2021 or 2022, when home prices were near their height,' said Corey Stambaugh, a Redfin Premier agent in North Carolina. 'Even though we advise them to list at today's market value, a lot of them decide to list high to recoup their money.' But overpricing your home isn't just wishful thinking — it can be a costly mistake. Properties that sit too long tend to raise red flags to buyers, giving them more leverage to negotiate. For buyers, the market is starting to tilt in your favor, but that doesn't mean you shouldn't go in unprepared. Getting pre-approved can make you a stronger buyer and help you stay realistic about what you can actually afford. When you're ready to make an offer, negotiate like your rent just went up. You might be able to ask for repairs, appliances or even that oddly charming mid-century credenza in the living room. Whether you're buying or selling, the key is knowing when to move — and not being afraid to play a little hardball when the timing's finally on your side. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
