$0.173
-0.003 (-1.76%)Al cierre
Noticias de SURG
Eventos de SURG
SurgePays Forms Joint Venture Redline with Wireless Distributor
SurgePays announced the formation of Redline Wireless Group, a Wyoming limited liability company established as a joint venture between the company and one of the largest wireless master distribution organizations in the United States, which operates an executed dealer agreement footprint of more than 20,000 active independent prepaid wireless dealers. Redline has been formed to market, distribute, and support prepaid wireless services nationwide across this independent dealer footprint. Redline will combine, in a single joint venture entity, the company's MVNO infrastructure, including the LinkUp Mobile consumer brand, billing and provisioning systems, customer service and technical support, general and administrative infrastructure, and the Company's operations center, with access to the Contributing Member's national independent dealer prepaid wireless distribution channel. "We are pairing our full MVNO infrastructure with one of the largest independent dealer distribution footprints in the country, more than 20,000 active dealers already selling prepaid wireless every day. Our team spent over a year with LinkUp Mobile integrating and developing the systems in a live environment to support this level of scale, with the intention of building one of the largest prepaid wireless companies in the nation. Both parties share the goal of reaching more than 1 million subscribers in the coming years. Even our most conservative internal models show Redline generating more revenue and profit by month 18 than any prior SurgePays subsidiary has achieved," said Brian Cox, Chairman and Chief Executive Officer of SurgePays. Redline is owned 51% by SurgePays, as controlling and managing member, and 49% by the contributing member, as noncontrolling member. SurgePays intends to consolidate Redline as a majority-owned controlled subsidiary in accordance with Accounting Standards Codification 810, with the contributing member's 49% economic interest reported as a noncontrolling interest.
SurgePays Expands Relationship with All Prepaid
SurgePays announced an expanded relationship with All Prepaid, dba LowWeeklyPayments, a Florida-based smartphone rent-to-own platform serving subprime consumers, following a three-month pilot across 32 independent retail dealers. The companies are actively exploring a new joint venture to scale this across SurgePays' broader multi-thousand dealer network. The month over month acceleration from initial dealer onboarding in April to $142,725 in June sales revenue, or approximately $4,438 in average revenue per dealer for the month across the 32 pilot dealers, is the primary reason the company is moving to expand the program beyond the initial 32 dealer test market.
Dow Hits Record High While Nasdaq Declines
The major averages had a mixed day before the long holiday weekend, with the Dow rising to a record high as traders considered the weaker-than-expected U.S. nonfarm payrolls for June and what it might mean for the path of rates. Meanwhile, the Nasdaq fell amid continued pressure on technology and semiconductor names. Chip stocks have experienced a notable pullback to begin the second half of the year, suggesting traders are taking profits after a strong run.Looking to the jobs report, the U.S. economy added 57,000 jobs in June, well below forecasts of 110,000 and a downwardly revised 129,000 in May. The unemployment rate dropped to 4.2% in June, down from 4.3% in May, as many people left the workforce.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:OpenAI has discussed giving the U.S. government a 5% stake in the company,Alphabethasof a EUR4.1B Android fine in EuropeTeslareported, beating expectationsRivianand raised its FY26 vehicle delivery forecastAppleis preparing a new iPad Pro and redesigned entry-level MacBook Pro for 2027,2. WALL STREET CALLS:DAPalantirto Buy, sees "gift" at current levelsAdobeto Buy at HSBCWolfeChevronto Outperform, sees "opportunistic" entry pointSkyWestto Neutral at Goldman SachsCanaccordInfleqtionat Buy, sees 70% upside3. AROUND THE WEB:Microsoftis merging its consumer and enterprise versions of its Copilot AI chatbot, The Information reportsAmazonwill begin internet services this year after its latest satellite launch, Bloomberg reportsSoftBankhas resumed discussions with lenders for a $10B loan backed by its stake in OpenAI, offering a repayment guarantee to address concerns over valuing private-company shares and reduce lenders' collateral risk, Reuters saysThe U.S. National Highway Traffic Safety Administration, NHTSA, closed a 2022 preliminary evaluation of 695,000 Teslavehicles over unexpected deceleration, citing less incidents and low hazard to drivers, Reuters saysAnthropic has started early-stage work on its own AI chip and has held talks with Samsungas a potential manufacturing partner, The Information says4. MOVERS:SurgePayssoared afterwith one of its wholesale wireless network providersAeroVironmentgained afterKratos Defensewas higher after beingfor a new air defense missile systemOusterwas lower after filing anArbor Realtyfell after Piper Sandlerits price target on the stock5. EARNINGS/GUIDANCE:APi Groupraised itsLindsay, with EPS and revenue beating consensusNational Beveragereported, with EPS and revenue lower year-over-yearGreenbrierand narrowed its guidance for FY26American Eaglebacked itsand FY26INDEXES:The Dow rose 594.83, or 1.14%, to 52,900.07, the Nasdaq lost 207.36, or 0.80%, to 25,832.67, and the S&P 500 advanced 0.010, or 0.00013%, to 7,483.24.
U.S. Stock Futures Mostly Lower as Semiconductor Stocks Retreat
Stock futures were mostly lower, continuing Wednesday's declines as markets gauged the likelihood of a Fed rate hike this year and how much room is left on the AI trade. Markets kicked off the second half of 2026 with a bit of a cautious tone after a powerful second-quarter rally. Semiconductor names such as Micron, SanDisk, Nvidia, and Broadcom slid to start the quarter after their massive year-to-date rallies as investors took some profits and rotated to other areas.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -National Beverageup 6.1%ALSO HIGHER -SurgePaysup 58.7% after it amended a pact with a wholesale wireless network providerLOWER AFTER EARNINGS -Franklin Coveydown 18.8%ALSO LOWER -American Eagledown 1.2% after naming Ravi Thanawala its next CFO and reiterating its guidance for Q2 and FY26
SurgePays Amends Wholesale Network Agreement, Expected to Reduce Accounts Payable by $10.3M
SurgePays announced an amended agreement with one of its wholesale wireless network providers. The company said the amendment modernizes the company's wholesale pricing structure and enhances the economics of subscriber growth. Going forward, the amendment is expected to reduce both customer acquisition and recurring subscriber costs through improved wholesale pricing. Additionally, the amendment removes the company's previous minimum purchase commitments an aggregate minimum spend of $50M over the initial three-year term resulting in the elimination of the related contingent liability from the company's balance sheet. As part of the amendment, the network provider has also adjusted previously invoiced non-usage based amounts. This adjustment is expected to reduce the company's accounts payable by approximately $10.3M and result in a corresponding gain of approximately $8.5M relating to expenses previously reported for the three months ended March 31 with a favorable impact on the company's net income and stockholders' equity in the period the modification takes effect.
Esta página es solo para investigación y no constituye asesoramiento de inversión. Los modelos pueden equivocarse. El rendimiento pasado no garantiza resultados futuros.