==Block (XYZ) reported earnings on Thur 20 Feb 25 (a/h)

Fintech company Block (SQ) has been trading under a new ticker on the New York Stock Exchange starting Jan. 21: XYZ. 

The company, led by Twitter co-founder Jack Dorsey, has had a history of rebranding itself. In December 2021, the company rebranded and changed its name from Square to Block. 

• Sector: Technology
• Industry: Software - Infrastructure
• HQ: Oakland, California
• https://www.block.xyz

 

EARNINGS MISS: XYZ announced quarterly EPS of $0.71, missing expectations by 18.79%.

The financial services company fell short of net revenue ($6.03 billion vs. the $6.28 billion expected) and adjusted earnings ($0.71 vs. the $0.89 expected). The company, led by chairman and CEO Jack Dorsey, managed to beat on adjusted EBITDA, reporting $757 million (vs. the $741.6 million expected).

===NextEra Energy Partners (NEP) is changing its name to XPLR Infrastructure (XIFR)

 

NextEra Energy Partners is changing its name to XPLR Infrastructure, effective today and will begin trading under the new ticker symbol, XIFR, on the New York Stock Exchange on Tuesday, Feb. 3

• Until Feb. 3, the company will continue to trade on the NYSE under its current ticker symbol, NEP.
• In addition to its new name and ticker symbol, XPLR Infrastructure will have a new logo and new website, www.XPLRInfrastructure.com.

Florida-based NextEra Energy Partners is a limited partnership formed by NextEra Energy Inc (NYSE:NEE) that is active in acquiring, managing and owning contracted clean energy projects. It owns interests in wind, solar and battery storage projects in the US, as well as natural gas infrastructure assets in Pennsylvania. As of September 30, 2024, NextEra Energy Partners’s generation portfolio had gross capacity of 13,585 MW and net capacity of 10,112 MW.

==Overstock.com (OSTK) changed its corporate name to Beyond (BYON) on November 6, 2023

• Overstock.com, Inc. changed its corporate name to Beyond, Inc. on November 6, 2023. The company also changed its ticker symbol from OSTK to BYON and moved its stock listing from the Nasdaq Global Market to the New York Stock Exchange. 
• In June 2023, The New York Times reported that Overstock was considering renaming its business entirely in a move to reflect its updated business model. The company was founded 1999 as a liquidator, but has since transformed itself into an online retailer of furniture and home items.
• https://beyond.com/

WisdomTree transfers listing to NYSE, trades under WT ticker

•  Changes name ‘WisdomTree Investments, Inc.’ to simply ‘WisdomTree, Inc.’ and a change in its ticker symbol to ‘WT’ from ‘WETF’ to become effective Monday November 7, 2022. 
• Changes name ‘WisdomTree Investments, Inc.’ to simply ‘WisdomTree, Inc.’ and a change in its ticker symbol to ‘WT’ from ‘WETF’ to become effective on Monday November 7, 2022. 
  

NortonLifeLock (NLOK) to change its name to Gen Digital (GEN)

NortonLifeLock unveiled its new company name Gen Digital (pending Nasdaq: GEN) following the completed merger of NortonLifeLock and Avast.

 

Seagen (SGEN) to be acquired by Merck (MRK)?

 The Wall Street Journal reported the $40 billion deal for Seagen Inc. is unlikely to be finalized ahead of the pharmaceutical giant’s earnings later this month, though the talks remain on track, according to people familiar with the matter.

• Seagen helped pioneer a class of drugs known as antibody drug conjugates. The therapies take advantage of the honing abilities of antibody drugs to deliver a potent toxin to a specific tumor target.
• As soon as this month, a study evaluating Seagen’s Padcev as a first-line treatment for bladder cancer could produce data. The study is examining Padcev’s use alone and in combination with Keytruda, according to analysts.
• Longtime CEO Clay Siegall, who co-founded the company more than 24 years ago, resigned in May in the wake of allegations of domestic abuse.
  

Oct 8, 2020 :  Seattle Genetics shortened its name to Seagen, dropping local connection as it goes global. The name reflects the company's growth over 23 years from a Seattle-based biotech to an organization with three cancer fighting drugs on the market.

  

May 16, 2022 — Clay Siegall spent 33 hours in jail and was charged with fourth degree misdemeanor assault. 

Seagen CEO and co-founder Clay Siegall, 61, built the Seattle-area biotech into one of the most successful in the world.   A proxy filing also revealed Siegall to be one of the highest-paid executives in the industry, making $18.9 million in 2021.

 

Seagen has gained FDA approvals for four of its cancer treatments. Last year, the company reported $1.6 billion in revenue.
 

Siegall has been the company’s CEO since he co-founded the company, then called Seattle Genetics, in 1998. The company’s first oncology drug, Adcetris, was approved in 2011, and it now has four commercial products and employs 2,800 people in the Seattle area, Canada, Switzerland, and Europe. New plans are also in place to build a 270,000 square foot manufacturing facility north of Seattle. Seagen’s market value is $20 billion and it reported $1.6 billion in revenue last year.

 

Siegall, 61, is alleged to have pushed his 46-year-old wife, Nellie, to the floor and dragged her causing bruises and abrasions.

 

 Clay and Nellie Siegall

• April 23, 2022 : Clay Siegall is arrested and taken to jail in Snohomish County, Washington.
• Seagen CEO's arrest came during a hazy night of booze, sex and alleged violence
• When police arrived at the home sometime near 4 a.m., Nellie Siegall, Siegall’s wife of nearly three years, was at the front door naked and intoxicated, according to the report, with abrasions on her forehead and knees. Clay Siegall was described as “intoxicated” and “assaultive” as he denied the abuse.
• A summary of jail calls between Siegall and his wife shows that a day after the arrest, Siegall “thanked her for the possibility that he may get fired and that she may have ruined his career.” Siegall was released on April 24.
  
• April 28: Clay Siegall filed for divorce from his wife, Nellie.
• May 15: Seagen CEO and co-founder Clay Siegall resigned from Seagen.  Seagen has named its chief medical officer, Roger Dansey, M.D., to take over as interim CEO.
  

Arch Resources (ARCH) reported earnings on Tue 23 Oct 2018 (b/o)

• The company was formerly known as Arch Coal, Inc. and changed its name to Arch Resources, Inc. in May 2020. Arch Resources, Inc. was incorporated in 1969 and is headquartered in St. Louis, Missouri.
• Arch Resources is the second-largest supplier of coal in the United States, behind Peabody Energy. 
• ACI -->  ARCH:  In January 2016, Arch Coal (ACI) filed for chapter 11 bankruptcy protection. 
• The company won a court approval allowing them to erase almost $5 billion in debt and left bankruptcy with $300 million in cash.  
• Arch Coal resumed trading on the New York Stock Exchange under the ticker ARCH on October 5, 2016. 

 

 

 

 

 

 

 

• Reports Q1 (Mar) earnings of $12.89 per share, $1.21 better than the S&P Capital IQ Consensus of $11.68; revenues rose 142.8% year/year to $867.9 mln vs the $725.33 mln S&P Capital IQ Consensus.
• Announces a quarterly dividend of $135.3 million, or $8.11 per share

ViacomCBS (VIAC) changes corporate name to Paramount Global (PARA)

• ViacomCBS will change its corporate name to Paramount as of Feb. 16, calling the move an effort to adopt “an iconic global name” to reflect the conglomerate’s increasingly worldwide focus.
• The company’s shares will trade on the NASDAQ index under the ticker symbol PARA (for Class B common shares), PARAA (for Class A common), and PARAP (for Class A preferred).
• ViacomCBS is doubling down on its nascent streaming strategy, with plans to steer more content and investment toward Paramount+ and a new reporting structure and corporate brand to emphasize that focus.

 

 

CBS is a foundational name in broadcasting — the Columbia Broadcasting System launch dates back to 1927 and the early days of commercial radio. The Eye name will endure on the broadcast network and other existing assets.

The moniker makeover was announced Tuesday by ViacomCBS chair Shari Redstone and president-CEO Bob Bakish in a memo to staffers. 

“As Paramount, our name will reflect who we are, what we aspire to be, and all that we stand for. It will help advance our strategy of harnessing all our strength and breadth in building the businesses of tomorrow. And it will capture the collective power of our global assets, from our amazing brands—CBS, Showtime, MTV, Comedy Central, BET, Nickelodeon, Smithsonian, Paramount Pictures, Paramount+, Pluto TV and more— to our global reach and our diverse audiences. All of which adds up to Paramount being the pre-eminent home to, and producers of, the world’s greatest content,” Redstone and Bakish wrote.

Square (SQ) to change its name to Block, ticker symbol will remain same for now

• Co announces that it is changing its name to Block. The Square name has become synonymous with the co's Seller business, which provides an integrated ecosystem of commerce solutions.
• The change to Block acknowledges the company's growth. Since its start in 2009, the company has added Cash App, TIDAL, and TBD54566975 as businesses, and the name change creates room for further growth.
• The legal name "Square, Inc." is expected to be legally changed to "Block, Inc." on or about December 10. The ticker symbol "SQ" will not change at this time.

 

Chipmaker Cree (CREE) changes name to Wolfspeed, strikes deal with GM on battery tech

• Cree Inc shares previously traded on the Nasdaq Global Select Market, and newly renamed North Carolina-based Wolfspeed now will trade on the New York Stock Exchange under the ticker "WOLF."

 

Wolfspeed makes chips out of silicon carbide, which is more energy efficient than standard silicon for tasks such as transmitting power from an electric car's batteries to the motors that turn the wheels. That helps boost the vehicle's range. Tesla Inc was an early adopter of the chips, and other vehicle makers are following suit.

But silicon carbide chips are difficult to make because the raw crystalline material has to be grown in special furnaces and processed into chips differently from standard silicon.

Wolfspeed has worked with silicon carbide for 30 years. In addition to making its own silicon carbide chips, Wolfspeed makes about 60% of the world's raw silicon carbide material and supplies it to some of its competitors such as Infineon Technologies, STMicroelectronics and On Semiconductor.

L Brands (LB) will separate the Victoria's Secret business into an independent, publicly traded company; change its name to Bath & Body Works

• The name change is expected to become effective on August 2 and trade under the new ticker on August 3, 2021.
  • Bath & Body Works will trade under the symbol BBWI.
• The Victoria's Secret business will be named Victoria's Secret & Co. and will include brands Victoria's Secret Lingerie, PINK and Victoria's Secret Beauty.
  • Victoria's Secret's will trade on the New York Stock Exchange under the symbol VSCO.

Plantronics, Inc. (PLT) (Poly) reported earnings on Thur 13 May 21 (a/h)

Mar 28, 2022: Poly was acquired by HP in an all-cash deal worth $3.3 billion including debt. 

 

** charts before earnings **

 

** charts after earnings **

 

Poly to change ticker symbol to "POLY", effective May 24

• Poly announced that its ticker symbol on the NYSE will change to "POLY" at the open of market trading on May 24. Poly, formerly Plantronics and Polycom, has traded under the ticker "PLT" since Plantronics' initial public offering in 1994.

Poly beats by $0.30, beats on revs; guides Q1 EPS below consensus, revs below consensus

Reports Q4 (Mar) earnings of $1.23 per share, excluding non-recurring items, $0.30 better than the S&P Capital IQ Consensus of $0.93; revenues rose 16.9% year/year to $478 mln vs the $454.93 mln S&P Capital IQ Consensus.

The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain. End market demand remains strong for Video and Headsets, while Voice demand is recovering. However, the Company's ability to execute on this demand is subject to availability of certain components. Absent supply shortages, we believe demand would support sequential revenue growth off the March quarter. 

Co issues downside guidance for Q1, sees EPS of $0.35-0.55, excluding non-recurring items, vs. $0.79 S&P Capital IQ Consensus; Based on current supply and expected availability of specific components, the Company expects Q1 revs of $410-430 mln vs. $438.76 mln S&P Capital IQ Consensus.

Natl Oilwell Varco (NOV) to change its corporate name to NOV Inc. on Jan 1, 2021

Co announces plans to change its corporate name to "NOV Inc.", effective January 1, 2021. The ticker symbol, "NOV", will remain unchanged.

"The corporate name change reflects the Company's broadening mission within energy to continue to drive economic efficiency and safety, as we have done for decades within traditional oil and gas."

-=American Outdoor Brands (AOBC) to change name to Smith & Wesson Brands; to trade under ticker symbol "SWBI"

• Smith & Wesson Brands (SWBI)
• American Outdoor Brands (AOUT)

The decision to split off the firearm business was partly motivated by a changing political climate.


American Outdoor Brands to change name to Smith & Wesson Brands, effective June 1; to trade under ticker symbol "SWBI"

American Outdoor Brands will change its name to Smith & Wesson Brands, effective June 1.

• The name change reflects the company's preparation for the previously announced spin-off of its outdoor products and accessories business as a tax-free stock distribution to its stockholders in late summer 2020, a transaction that would create two independent, publicly traded companies: Smith & Wesson Brands (which would encompass the firearm business) and American Outdoor Brands (which would encompass the outdoor products and accessories business).

The company's common shares will continue to be listed for trading on the Nasdaq Global Select exchange under the new ticker symbol "SWBI" beginning at the market opening on Monday, June 1.

-=Royal Bank of Scotland Group (RBS) to be renamed as NatWest Group (NWG)

Royal Bank of Scotland Group PLC said Friday that it intends to rename itself as NatWest Group and reduce the size of its investment-banking business, as it reported an increased profit for the fourth quarter of 2019.

The majority-state-owned bank RBS said too much of its potential value is locked in business lines and business models that are “too complex and generating too little return” and it will reduce the size of its NatWest Markets investment-banking business by around a half.

NatWest Markets core income fell to 177 million pounds ($230 million) in 2019 from GBP1.08 billion a year earlier.

The British lender said that it expects between GBP800 million and GBP1.0 billion in strategic costs during 2020 resulting from a refocusing of NatWest Markets and cost cutting.

The London-listed bank made a quarterly pretax profit of GBP1.55 billion compared with GBP572 million for the same period a year earlier.

-=Office Depot (ODP) reported earnings on Wed 6 Nov 19 (b/o)

• The ODP Corporation (NASDAQ:ODP) offers its products under severa; brands. including Office Depot, OfficeMax, Grand & Toy, ODP Business Solutions, Ativa, TUL, Foray, Realspace, and DiVOGA.

Office Depot beats by $0.01, misses on revs; reaffirms FY19 guidance, increases existing stock repurchase program to $200 mln, to review of potential holding company reorganization

Reports Q3 (Sep) earnings of $0.15 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.14; revenues fell 3.6% year/year to $2.78 bln vs the $2.84 bln S&P Capital IQ Consensus.

The co announced that as part of its ongoing commitment to drive shareholder value, its Board of Directors approved an increase in the authorization of its existing stock repurchase program to $200 million and an extension of the program until the end of 2021.

Co reaffirms guidance for FY19, sees FY19 revs of $10.8-10.9 bln vs. $10.8 bln S&P Capital IQ Consensus; continues to see Adj-EBITDA of $525-550 mln

The co separately announced that its Board of Directors has approved a feasibility review of the implementation of a holding company reorganization, which is expected to be completed by the end of the first quarter of 2020. If implemented, the reorganization is anticipated to create a new holding company, The ODP Corporation, that will become the new parent company of Office Depot and will replace Office Depot as the public company trading on Nasdaq under Office Depot's current ticker symbol "ODP".

=SeaWorld Entertainment (SEAS) reported earnings on Tue 6 Aug 2019 (b/o)

• Update Jan 20, 24:  SeaWorld Entertainment (SEAS) will change its name to United Parks & Resorts effective Feb. 12, 2024; ticker symbol will change from SEAS to PRKS with trading as PRKS to begin Feb. 13, 2024 
• The name change affects only the name of the parent company -- SeaWorld Entertainment, Inc. The Company's award-winning portfolio of parks -- SeaWorld, Busch Gardens, Discovery Cove, Sesame Place, Water Country USA, Adventure Island, and Aquatica -- retain their respective park names.
  

SeaWorld Entertainment reports Q2 GAAP earnings of $0.64/share vs. $0.26/share year ago, misses on revs

Reports Q2 (Jun) GAAP earnings of $0.64 per share, the S&P Capital IQ Consensus is $0.55; revenues rose 3.6% year/year to $406 mln vs the $411.77 mln S&P Capital IQ Consensus.

Revenue was positively impacted by improved in-park per capita spending (defined as food, merchandise and other revenue divided by total attendance), an overall increase in attendance, and an increase in admission per capita.

Attendance increased by 0.8%, to 6.5 mln guests from 2Q18.

Adjusted EBITDA increased by 22.7% to $149.7 mln from 2Q18.

Scientific Games (SGMS) reported earnings on Tue 7 May 19 (a/h)

• In 2021, SG sold its sports betting division to Endeavor Group Holdings (NYSE: EDR) for $1.2 billion, and sold its lottery division to Brookfield Business Partners (NYSE: BBU) for $6.1 billion.  As the divested lottery business took the Scientific Games name, the company announced in March 2022 that it would rebrand as Light & Wonder (LNW).

** charts after earnings **

 

Scientific Games misses by $0.21, reports revs in-line

• Reports Q1 (Mar) loss of $0.26 per share, $0.21 worse than the S&P Capital IQ Consensus of ($0.05); revenues rose 3.1% year/year to $837 mln vs the $832.28 mln S&P Capital IQ Consensus.
• On May 7, 2019, the Company completed the initial public offering of a 17.4% minority interest in its Social gaming business, SciPlay Corporation. SciPlay is trading on The NASDAQ Global Select Market under the ticker symbol "SCPL". Scientific Games received $301 million in proceeds from the offering, which enables us to make substantial payments to reduce debt. The Company believes the offering provides SciPlay greater flexibility to pursue additional growth initiatives.

DSW (DSW) changes its corporate name to Designer Brands (DBI)

In March 2019, DSW rebranded their corporate name to Designer Brands. The company also changed its ticker symbol on the NYSE from "DSW" to "DBI" effective April 2, 2019.

Pain Therapeutics (PTIE) to change name to Cassava Sciences (SAVA)

• Update Sep 26, 2024 — The Securities and Exchange Commission today filed charges against Cassava Sciences, Inc., its founder and former CEO, Remi Barbier.

Headquarters: Austin, TX

Founded: 1998

 

Pain Therapeutics Inc. (PTIE) said Wednesday it's changing its name and ticker to better reflect its focus on developing drugs for neurodegenerative diseases such as Alzheimer's. The company will be named Cassava Sciences Inc. with immediate effect. From March 28, it will start trading on Nasdaq under the new ticker symbol "SAVA." The company is currently in a phase 2 testing of a drug candidate aimed at treating Alzheimer's, that does not seek to clear amyloid from the brain, but rather to stabilize a critical protein in the brain. It is also working to develop a biomarker/diagnostic to detect Alzheimer's using a simple blood test. Shares rose 1.7% in premarket trade, but have fallen 82.2% in the last 12 months, while the S&P 500 SPX, -0.02% has gained 7.9%.