FTSE 100 Live 25 June: Index lags as US stocks bounce, Babcock lifts guidance
US markets closed higher for a second session in a row last night, led by a 1.4% rise for the Nasdaq after oil's price fall boosted the interest rate outlook.
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Straits Times
29 minutes ago
- Straits Times
Singapore shares rise, tracking regional gains; STI up 0.6%
The optimism here sent the benchmark STI up 0.6 per cent or 21.68 points to 3,925.98 with gainers easily outpacing losers 333 to 170 on robust trade of 1.5 billion securities worth $1.5 billion. PHOTO: ST FILE SINGAPORE – The stability of the cease-fire between Israel and Iran has plenty of sceptics but there were enough true believers across major regional markets to drive shares higher on June 25. The optimism here sent the benchmark Straits Times Index (STI) up 0.6 per cent or 21.68 points to 3,925.98 with gainers easily outpacing losers 333 to 170 on robust trade of 1.5 billion securities worth $1.5 billion. Wall Street set the direction of travel overnight, where stocks put on gains after the cease-fire seemed to hold firm. The tech-focused Nasdaq led the way, surging 1.4 per cent, while the Dow Industrials rose 1.2 per cent and the S&P 500 advanced 1.1 per cent and is now within touching distance of the record close recorded in February. Oil prices went the other way, falling 6 per cent, and are now below the level when fighting began earlier this month. Regional bourses mostly followed in similar fashion. Japan's Nikkei 225 was up 0.4 per cent, the Hang Seng in Hong Kong gained 1.2 per cent and South Korea's Kospi rose 0.2 per cent. Australian stocks swung between gains and losses throughout the day and ended virtually flat. Mr Nigel Green, chief executive of global financial advisory company deVere Group, noted that global markets were 'dangerously relaxed' over the wider global risk of the conflict between Iran and Israel. For instance, equity markets are not showing the 'defensive rotation' expected of investors when there are many risk indicators. He called on investors to adjust their allocations to provide more downside protection and global diversification. Meanwhile, the STI's top gainer was the Singapore Exchange, which climbed 3.7 per cent to $14.41, while the losers were led by Yangzijiang Shipbuilding, down 1.4 per cent to $2.19. CapitaLand Integrated Commercial Trust was the most actively traded blue-chip counter by volume, with 90.5 million units changing hands. The units closed at $2.15, up 0.5 per cent. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Miami Herald
40 minutes ago
- Miami Herald
Greenlane Announces Board's Approval of Reverse Stock Split Ratio
BOCA RATON, FL / ACCESS Newswire / June 24, 2025 / Greenlane Holdings, Inc. (NASDAQ:GNLN) ("Greenlane"), a global seller of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that it will effect a one-for-seven hundred fifty reverse stock split (the "Reverse Split") of its Class A common stock, par value $0.01 per share (the "Class A common stock"), that will become effective on June 26, 2025 at 5:00 P.M. Eastern Time, after the closing of trading on The Nasdaq Capital Market ("Nasdaq"). Greenlane has requested that Greenlane's Class A common stock begin trading on June 27, 2025, on a post-Reverse Split basis on the Nasdaq under the existing symbol "GNLN." The Reverse Split is primarily intended to bring Greenlane into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq. The new CUSIP number for the Class A common stock following the Reverse Split will be 395330509. At Greenlane's special meeting of stockholders on June 16, 2025 (the "Special Meeting"), Greenlane's stockholders approved the proposal to authorize Greenlane's board of directors (the "Board"), in its sole and absolute discretion, to file a certificate of amendment (the "Amendment") to Greenlane's amended and restated certificate of incorporation to effect the Reverse Split at a ratio to be determined by the Board, ranging from one-for-two hundred fifty to one-for-seven hundred fifty. On June 12, 2025, the Board approved the Reverse Split at a ratio of one-for-seven hundred fifty and the Amendment has been filed with the Secretary of State of the State of Delaware, which will become effective on June 26, 2025, at 5:00 P.M. Eastern Time, before the opening of trading on the Nasdaq. The Reverse Split will affect all issued and outstanding shares of Class A common Stock. All outstanding options, restricted stock awards, warrants and other securities entitling their holders to purchase or otherwise receive shares of Class A common stock will be adjusted as a result of the Reverse Split, as required by the terms of each security. The number of shares available to be awarded under Greenlane's Third Amended and Restated 2019 Equity Incentive Plan, will also be appropriately adjusted. Following the Reverse Split, the par value of the Class A common stock will remain unchanged at $0.01 per share. The Reverse Split will not change the authorized number of shares of Class A common stock or preferred stock. No fractional shares of Class A Common Stock shall be issued as a result of the Reverse Split, and stockholders who otherwise would be entitled to receive fractional shares of New Class A Common Stock shall be entitled to receive the number of shares of New Class A Common Stock rounded up to the next whole number. The Reverse Split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in Greenlane's equity (other than as a result of the rounding of fractional shares, as set forth above). The Reverse Split will reduce the number of shares of Class A common stock issued and outstanding from approximately 1,039,735,642 million to approximately 1,386,314. About Greenlane Holdings, Inc. Founded in 2005, Greenlane is a premier global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform. We proudly offer our own diverse brand portfolio including Higher Standards and Groove, and our exclusively licensed Marley Natural and branded products. We also offer a carefully curated set of third-party products such as DaVinci Vaporizers, Storz & Bickel, Eyce, Pax, VIBES, and CCELL through our direct sales channels and our proprietary, owned and operated e-commerce platforms which include and For additional information, please visit: Forward Looking Statements Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, among others, statements relating to: the current and future performance of the Company's business, the Company's ability to satisfy the various rules and requirements imposed by The Nasdaq Stock Market, unforeseen technical issues that could result in Greenlane's Class A common stock not trading on The Nasdaq Stock Market on a post-Reverse Stock split basis on June 27, 2025 as expected and the Company's financial outlook and expectations. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2024, the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, and the Company's other filings with the SEC, which are accessible on the SEC's website at Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Greenlane on the date hereof. Greenlane undertakes no duty to update this information unless required by law. Investor Contact: IR@ or TraDigital IRKevin McGrath+1-646-418-7002kevin@ SOURCE: Greenlane Holdings, Inc.
Yahoo
40 minutes ago
- Yahoo
US stock futures subdued as Middle East tensions cool; Powell in focus
(Reuters) -U.S. stock futures were subdued on Wednesday, after the Nasdaq 100 closed at a record high a day earlier on Israel and Iran signaling their air war had ended, and as investors awaited more comments from Federal Reserve Chair Jerome Powell. All three major indexes gained more than 1% on Tuesday and the benchmark S&P 500 index was less than 1% below its all-time peak, as the de-escalation in Middle East hostilities supported risk sentiment. "Turning back to yesterday's market moves, the key reason the market rallied so much was because lower oil prices (and hence lower inflation) are keeping the prospect of rate cuts in play this year," Jim Reid, global head of macro and thematic research at Deutsche Bank, said in a note. In the second day of Powell's congressional testimony, scheduled at 10:00 a.m. ET, investors will look out for any hints on the central bank's monetary policy path. This comes a day after Powell emphasized the Fed's wait-and-watch approach to interest rates as tariff-led price pressures kick in. However, he also said a lower-than-expected inflation reading or weakness in the labor market would push the central bank to cut sooner. Money market moves show traders are pricing in about 60 basis points of rate cuts by the end of 2025, with a 71% chance of a 25-bps rate cut in September, according to CME Group's FedWatch tool. At 05:32 a.m. ET, Dow E-minis were down 13 points, or 0.03%, S&P 500 E-minis were up 1 points, or 0.02%. Nasdaq 100 E-minis were up 19.75 points, or 0.09%. Shares of delivery giant FedEx fell 5.5% in premarket trade after the company forecast quarterly profit below estimates as tariff weighed on global demand. Investors will also focus on the Commerce Department's final take on first-quarter GDP due on Thursday, and Friday's Personal Consumption Expenditures (PCE) report that will help ascertain the economic effects of President Donald Trump's tariffs that have kept global markets on edge since the start of the year. Micron Technology shares edged up 0.6% ahead of the chipmaker's quarterly results due after the closing bell. U.S.-listed shares of cybersecurity firm Blackberry jumped after the company raised its annual revenue forecast citing steady demand amid growing online crimes. 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
