Will The Rally Continue? BNED, NEWB, BBAI, CANO, HAYO

The New York Stock Exchange or NYSE attracts millions of investors on a daily basis and the trading volume on the exchange runs into hundreds of billions of dollars. Stocks listed on the exchange often get considerable attention from investors and analysts. Here is a quick look at some of the NYSE listed stocks which may be worth adding to your watch lists.

Barnes & Noble Education Inc (NYSE:BNED) – The company is one of the leading solutions provider to the education industry and this past Friday it had made a key announcement. Barnes & Noble Education Inc announced at the time that it had gone into an agreement with its main financial stake holders and strategic partners.

The agreement had been with regards to a refinancing move which would instantly improve the company’s liquidity situation and financial positions through the extension of the maturity of the debt facilities. Some other agreements would also be modified and some credit facility covenants would be amended.

The company also noted that with the agreement in place, it would be possible for it to continue to support academic institutions and customers across the United States. Michael P Huseby, the Chief Executive Officer of the company noted that it was an important time of the year for higher education and the top priority of Barnes & Noble Education was to be prepared to serve its customers well.

New Relic (NYSE:NEWB) – On Monday, one of the more significant pieces of news emerged with regard to New Relic. It was announced that the company had reached an agreement to be taken private by TPG and Francisco Partners in an all-cash deal worth $6.5 billion. There was considerable competition for acquiring the company from application monitoring industry majors like Dynatrace and Datadogamong others. Once the news emerged, the New Relic stock rallied strongly and jumped by 13% to hit $83.85 a share.

The company’s shareholders were offered $87 a share by TPG and Francisco Partners, which worked out to a premium of 15% on the closing price on May 16, which was a day before the news broke about a possible deal. New Relic developed a cloud based software which helps mobile apps and websites to monitor databases and servers. It also tracks all the interactions of the users and consequently, helps in boosting the efficiency at a time when companies want to get more for their dollars.

BigBear.ai (NYSE:BBAI) – The company is one of the leading artificial intelligence powered decision intelligence solutions. On June 12 the company had announced that it had been granted a 6 month extension by the United States Army as the main contractor for continuing the work on the Global Force Information Management (GFIM) system.

The six-month contract awarded to BigBear.ai is worth $8.5 million. The extension had been granted after the company had worked on Phase 1 and Phase 2 of the project. The contract signed by the company was a single source contract BigBear.ai would be the prime contractor and would partner with Appian, Ignite IT and Deloitte. The President of Integrated Defense Solutions at the company Ryan Legge spoke about GFIM as well and noted that it possessed game changing capabilities and held considerable importance for the United States Army.

Cano Health (NYSE:CANO) –  It is a technology-driven healthcare firm that delivers customized value-based primary care to around 390,000 of its members. The company is transforming the delivery of primary healthcare which brings about improvement in the health and quality of life of patients that it serves.

On July 25, Cano Health had been in the news after it announced that it would announce its financial results for the second fiscal quarter after the closure of markets on August 9, 2023. On the same day, the company would also host a conference call at 5 PM Eastern Time and discuss its business as well as the financial results. A replay of the conference call would also be made available on the company’s website so that interested parties could listen on demand.

HUYA Inc (NYSE: HUYA) – The company is a leader in the game live streaming space in China and boasts of a fairly large community. It cooperates with e-sports organizers in addition to major game developers and publishers. HUYA Inc has been responsible for making e-sports live streaming one of the more popular genres of content on its platform.

The company has also extended into other content genres for its platform. Last week the company announced that would announce its second fiscal quarter financial results before the opening of the United States markets on August 15, 2023. It should be noted that the financial results are going to be unaudited. The management of HUYA would also host a conference call on the same day at 8 AM Eastern Time.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.