===Fermi America (FRMI): ex-CEO & co-founder Toby Neugebauer is terminated

 

May 18: 

• Fermi says ex-CEO Toby Neugebauer was terminated for cause over alleged misconduct, value-destructive sale plans
• Fermi filed a preliminary consent revocation statement with the SEC opposing Neugebauer’s bid to call a special meeting.

May 19: Toby Neugebauer, co-founder and largest shareholder of Fermi Inc., issued a letter to the owners of the Company

• "We need the opportunity to determine the future of Fermi ourselves, rather than having major decisions dictated by a small committee within a Board that has never answered to shareholders. The stakes are too high, and the opportunity too urgent, for directors who have never faced a shareholder vote to control the outcome."
• Neugebauer reiterates belief that Fermi's current cost of capital requires a dual-path process that must include a full-market-value sale or strategic partnership in order to maximize shareholder value.
• Given the Company's multiple legal tactics to suppress shareholder votes, Mr. Neugebauer announced that he plans to pause his solicitation of shareholders at the Special Meeting of Shareholders that he called for May 29, 2026, and will instead proceed with his solicitation to call a Special Meeting of Shareholders that he intends to hold on or around June 30, 2026.

===Healthpeak Properties (DOC) reported earnings on Tue 5 May 26 (a/h)

 

Healthpeak Properties beats by $0.02, beats on revs; guides FY26 FFO in-line

• Reports Q1 (Mar) funds from operations of $0.45 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.43; revenues rose 7.1% year/year to $752.9 mln vs the $694.59 mln FactSet Consensus.
• In March 2026, Janus Living, Inc. (JAN) completed its initial public offering at the high-end of the valuation range, generating approximately $880 million of net proceeds in an oversubscribed and upsized offering, to pursue accretive acquisition and investment opportunities.
• JAN reported post-IPO net loss of $(0.05) per share, first quarter net income of $0.13 per share and first quarter FFO as Adjusted of $0.23 per share.
• Co issues in-line guidance for FY26, sees FFO of $1.71-$1.75, excluding non-recurring items, vs. $1.73 FactSet Consensus.

===Global Business Travel Group (GBTG) to be acquired by Long Lake Management in $6.3B deal

 

American Express Global Business Travel is being acquired by Long Lake Management for $9.50 per share in an all-cash transaction valued at approximately $6.3 billion.

• Under the terms of the agreement, Amex GBT shareholders will receive $9.50 per share in cash, which represents a 60.2% premium to Amex GBT's closing stock price on May 1, 2026, the last full trading day prior to the transaction announcement, and a premium of approximately 65.1% over the volume weighted average price of Amex GBT's stock for the 30 days ending May 1, 2026.
• Transaction negotiations were led by a Special Committee of the Amex GBT Board of Directors, composed entirely of independent and disinterested directors. Following the unanimous recommendation of the Special Committee, the Amex GBT Board of Directors approved the merger agreement with Long Lake.
• The transaction is expected to close in the second half of 2026, subject to the satisfaction of customary closing conditions, including approval by Amex GBT's stockholders and receipt of requisite regulatory clearances. Upon completion of the transaction, Amex GBT's common stock will no longer be publicly listed, and Amex GBT will become a privately held company.
• The consummation of the merger is not subject to any financing condition. Long Lake intends to have discussions with certain significant stockholders of the Company relating to a potential rollover of a portion of their Amex GBT shares, which discussions have been authorized by the Special Committee, and may enter into rollover agreements with one or more of those parties in advance of the transaction closing.
• American Express (AXP), Expedia (EXPE), Qatar Investment Authority and BlackRock (BLK), collectively representing 69% of GBT's shares, have entered into voting agreements in support of the transaction.

Global Business Travel Group beats by $0.06, beats on revs; also to be acquired

• Reports Q1 (Mar) earnings of $0.10 per share, $0.06 better than the FactSet Consensus of $0.04; revenues rose 35.3% year/year to $840 mln vs the $815.97 mln FactSet Consensus.
• Note: American Express Global Business Travel, which is operated by Global Business Travel Group (GBTG), a software and services company for travel, expense and meetings & events, today announced that it has entered into a definitive agreement to be acquired by Long Lake Management for $9.50 per share in an all-cash transaction valued at approximately $6.3 billion.

Earnings this week : May 4 - 8, 26 (wk 19)

Monday (May 4) 

• Morning:  AXSM CNA CCOI WGS HESM KRYS NSSC NCLH PNW RLJ MZTI TWST TSN
• Afternoon: ADUS ADTN AEIS ALSN AMRC AESI BMRN BCC BWXT CRBG CRGY FANG DORM DUOL EQH EVER FN FLY GBDC IAC ICHR IIPR INVX INSP JBTM LSCC MATX MSA NHI NMFC NJR OGS ON OSIS OTTR PLTR PSKY PAY PINS POWL RBA SONO TNC BWIN TDW RIG TVTX VVX VAL VRTX VNOM VNO VOYG WMB

Tuesday (May 5) 

• Morning: AHCO ADM AGCO ALKS AEP BUD APTV ATKR AVA BALL BRBR BNTX CCJ CIFR CIGI CMI DOCN DFIN DUK DD ETN ECVT EMBC ENR ET NPO EVGO XPRO FWRG FISV FTRE FDP FUBO IT GFS GPK HOG HSIC HII IDXX INGR IART IPGP IQV KBR KKR KNF LCII LDOS DRS LTH MPC VAC MFA MPLX OCSL OCUL OIS OPLN PYPL MD PFE PTLO PCOR PEG RGEN RVTY RYTM ROK STNG SHLS SHOP SHC SWX SUN SHO SGRY TRI BLD TDG ULS WAT WEC WLK
• Afternoon:  ADPT AMD AGBK ATEC AEE ANDE ANGI AROC RCUS ANET AIZ ALAB ATRC BBAI BJRI BL BFAM BV BMBL CBT CRC CE LEU CC CHRD CRK CTVA COTY CPNG CACC CYTK DAVE DVA XRAY DVN DHT DEI EA EMR ACT EOG ECG EXEL FLYW FRSH GXO DOC HL HTGC HNGE HURN INTA IPAR IFF JKHY JXN J JAZZ JOBY KVYO LMAT LNWO LMB LYV LOGI LCID LUMN LITE MTW MQ MBC MTCH MRCY MNTN MWA MYGN NSA NVTS NBIX OXY ONTO PAAS PARR PFSI PBI PRIM PRU QRVO QLYS QDEL RPD RVLV SDGR WTTR TSLX SWKS SOLV MSTR SMCI SUPN TALO TEM TDC TX TTAM TMDX RARE UPST VECO VCYT VGNT VOYA VSEC WOLF WK

Wednesday (May 6) 

• Morning:  GOLF ADNT AMCR APO AZTA TECH BCRX BLMN BWA BCO BRKR CDW COR CLH YOU CRTO CVS DLX DIN EPC ELAN UUUU ESTA EXC FLEX FRPT GEO GPN HNI INMD CART PODD ITT JJSF JCI KMT KHC KD LINE LFUS LIVN LPX MDGL MRX MAR MDLN MRP NYT NICE NI NVAX NRG OSCR OC PFGC PRGO RXRX QSR REYN SN SEDG SOLS SR SHOO TBLA TIC TKR TRMB UBER UTHR UTZ DIS XPEL
• Afternoon:  ACAD ACVA ADMA ALB AOSL AMH AWR AMPL APA APP ARM ARRY ATO AUGO AXON BTG BBSI BLLN BKH BLBD OTF WHD CF CPK CHYM CRUS CDE CGNX COHR CMP CXW CXT CW DGII DASH DV BROS ECPG NVST EPR EQX LIFE ES EVTC EE FSLY FNF FLNC FLUT FTNT GNK GT GRDN HRB HP HLF HPK HMN HST HLI IBTA NGVT IONQ KMPR KNTK KTOS KLIC LB LZ LFMD LTC MAC MGNI MGY MNKD MTDR MET MIAX MIRM MKSI MEG MUR NATL NRDS NWN NTR ORA PLMR PTRN PAYC PRI PTC QGEN RDN RYN O RRX RELY RVMD ROOT RGLD RXST SRPT SVV SEZL SITM SKWD SM SMA SNAP RGR SLF RUN SYM TS TKO TROX TPC USPH UGI VRRM VCTR VIR WBD WTS WES WHR ZG

Thursday (May 7) 

• Morning: AAON ACIW ACMR ALGM COLD APPN ARW ASPN AVNT BCE BDX BSY CNQ CG CARS CRL LNG COLL CNR CWK DDOG ENOV EPAM ESAB ESPR WTRG EVRG EVH FA GATX GENI ROCK GOGO GWW GTN GPRE HAE HRMY HTZ HIMX HWM NSIT INSM IBP INSW KVUE KRP KTB DNUT LAMR LNTH LEG LFST LGND LNC LOAR MTSI MMI MKTX MCFT MMS MCD MDU TIGO NABL EYE VYX NTCT NXST NOMD PGY PZZA PAYO PTON PLNT PLTK PRMB PRVA RDWR RES RXO SCSC SRRK SRE SHAK FOUR FUN SGI SPB STVN SSYS TPR TFX TGLS TREX TRIP TPB U USFD VVV VCEL VERX VTRS VITL VNT WD WRBY XMTR XIFR ZTS
• Afternoon:  TXG AFRM ABNB AKAM ALRM AHR AMN AAOI ARLO ARWR AORT AGO ASTH AVPT ACLS BBDC BILL XYZ CARG CAI CENX CLNE CWAN CWEN NET COIN ED CON CRWV CPAY CRSR CVSA CRNX DIOD DKNG DBX DXC ESE EVCM EXPE FIGS FBIN FWRD FOXF FIP GEN G GILD GMED GDRX GRND GH HHH HUBS ICFI ICUI INDI INOD IOSP IREN FROG LYFT MBUU MCK MELI MTD MCHP MSI MP NWSA LASR SMR OLN OMDA OFRM OTEX OPEN OUT PAR PCTY PBA PRDO POST POWI PGNY PTCT QNST RCAT RGA RSG RNG RKT RKLB SONY SOUN SARO SG SYNA TNDM TXRH REAL TTD TOST UPWK WMG WPM WSC WYNN XPOF YELP ZD ZYME

Friday (May 8) 

• Morning:  AQN AMR AMCX ANIP CLMT ROAD DCH EMBJ ENB ESNT FIS FLR FTS TILE KOP OSK PAA PPL STWD SLVM WEN
• Afternoon: None