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FEIM News
FEIM Events
Tech Stocks Plunge, S&P 500 Falls for Fourth Consecutive Day
Major indices were down sharply for the fourth consecutive session, though in contrast to the selling earlier in the week, tech-heavy indices - S&P 500 and Nasdaq Composite - were hit harder than Dow Industrials. Technology, along with Basic Materials, were the worst-performing sectors in the S&P 500 as AI buildout-positive areas of the market buckled under the ongoing strain in borrowing costs. Semiconductors, Hardware, and Memory stocks were down across the board as the yield on the 10-year Treasury note reached new multi-year highs, jumping another 11 basis points to 4.94%. Even the Energy sector was weighed down by the more ominous overall market sentiment in spite of yet another spike in oil prices amid continued escalation in the Middle East - WTI Crude Oil was up 7% on Thursday and has picked up another 2% in the evening hours, rising above $104 per barrel. In the opening hours of the evening session, index futures are little changed, with S&P e-minis flat and the Nasdaq 100 contract down by a decimal.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Frequency Electronicsup 28.3%Copartup 8.4%RHup 6.5%Oracleup 4.2%ALSO HIGHER -ACV Auctionsup 43.8% after being acquired by CopartDOWN AFTER EARNINGS -Zumiezdown 16.7%Champions Oncologydown 2.9%Adobedown 2.0%IBEX Limiteddown 2.0%ALSO LOWER -CPI Card Groupdown 14.0% after selling stock for holders
FEI Reports Q1 Revenue of $23.45M, All-Time High
Reports Q1 revenue $23.45M vs. $13.81M last year. FEI President and CEO, Tom McClelland, commented, "I am very pleased to report first quarter revenue of $23.5 million, an all-time record for FEI, up 70% year-over-year and up 52% sequentially. As we told you on our fourth quarter 2026 earnings call in July, we expect to return to growth starting in this current fiscal 2027, and this first quarter is a strong proof point of that. Further, this performance gives us increasing confidence in our ability to meet or exceed the $150 million or more in annual revenue that we previously guided to by Fiscal 2029, which ends April 30, 2029."
Morgan Stanley Leads Offering with Deal Range of $55.00-$60.00
The deal range was $55.00-$60.00. Morgan Stanley acted as lead book running manager for the offering.
Morgan Stanley Acts as Lead Book Running Manager for Offering
Morgan Stanley is acting as lead book running manager for the offering.
Frequency Electronics Launches $100M Underwritten Public Offering
Frequency Electronics announced the commencement of an underwritten public offering of $100M of shares of its common stock. FEI is offering $62.5M of shares of common stock, and Edenbrook Value Fund, and Edenbrook Long Only Value Fund, affiliates of Jonathan Brolin, a member of the board of directors, are offering $37.5M of shares of common stock, in the aggregate, as selling stockholders. FEI expects to use the net proceeds it receives from the offering to fund additional growth opportunities, including for capital expenditures, working capital and other general corporate purposes. FEI will not receive any proceeds from the sale of any shares of common stock by the selling stockholders. Morgan Stanley is acting as lead book-running manager and Craig-Hallum is acting as book-running manager for the offering.
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