Stockwinners Market Radar for March 31, 2024 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

19:05 EDT Allegiant Travel reports February total system passengers up 0.3% at 1.25M - Reports February available seat miles, ASM, up 2.2% at 1.46M and Scheduled Service load factor 84.0% vs. 85.4% last year. "First quarter demand continued the trend of outperformance during peak weeks offset by a normalized off-peak demand profile," stated Drew Wells, CEO. "Unitized revenue during the last two weeks of March exceeded prior year, highlighting continued demand strength. First quarter TRASM will come in slightly lower than initial expectations, up roughly .5 percent sequentially from the fourth quarter of 2023. This is predominantly due to a slightly weaker than expected lead up to the Spring Break period. While we communicated the shift of Spring Breaks to the back half of the month, results were softer than we anticipated in those few lead up weeks. Second quarter capacity considers this normalization with April capacity down 10 percent year over year, accounting for the Easter shift forward. Additionally, June aircraft utilization is currently on par with 2018 levels to optimize capacity during our seasonally strong summer peaks. Early bookings into June, coupled with peak demand trends observed during the first quarter, suggest continued demand strength into peak summer travel periods."

10:54 EDT IX Acquisition merges with satellite technology company Aerkomm - Aerkomm, a satellite technology company providing multi-orbit broadband connectivity solutions, and IX Acquisition (IXAQ) a SPAC focused on the technology, media and telecommunications industries, have entered into a definitive business combination agreement and raised $35M in a private placement. The combined business will be called Akom Inc. and its ordinary shares are expected to result in Aerkomm transferring its listing from Euronext/OTCQX to Nasdaq under the ticker "AKOM", following the closing of the business combination. It is the intention of the combined business to also maintain a secondary listing on Euronext. The adjusted enterprise value of Aerkomm is $200M, as well as up to $200M of earnout shares for the Aerkomm shareholders, if certain milestones are achieved. The transaction supported by a fund-raise of $35M common equity private investment in public equity) subscribed concurrently with the signing of the agreement. The PIPE investors consist of new and current shareholders in Aerkomm. Completion of the transaction is expected in Q3.

08:30 EDT Bristol Myers ends collaboration agreement with Molecular Templates - Molecular Templates (MTEM) said that on March 13, Bristol-Myers Squibb (BMY) notified the company that following a corporate portfolio prioritization process, it does not intend to continue the research collaboration it entered into with the Molecular pursuant to the BMS collaboration agreement and would be terminating the agreement in its entirety. The termination will be effective on June 13, or 90 days following the company's receipt of Bristol-Myers Squibb's written notice of termination. Molecular Templates plans to reduce costs related to the collaboration agreement.