Largo stock falls after leadership changes amid financial challenges

Investing.com -- Alpha Metallurgical Resources (NYSE:AMR) stock dropped 4.3% Thursday following news of a fatal accident at its Rolling Thunder Mine in West Virginia.

The company confirmed that section foreman Steven Lipscomb, 42, lost his life during a sudden flooding incident that occurred on Saturday, November 8. According to Alpha, Lipscomb was last seen ensuring his crew’s safety as they evacuated the mine after encountering a substantial inflow of water. All other miners in the area escaped safely.

"Our hearts are broken," said Andy Eidson, Alpha’s chief executive officer. "Steve joined our company in 2006 and was a dedicated employee, respected leader and friend to many. His actions to ensure the safety of his crew members were heroic."

The company mobilized rescue efforts immediately after the incident, working with local, state, and federal agencies as well as emergency dive teams in a multi-day operation. Alpha is now cooperating with authorities to investigate the accident and its causes.

The stock decline reflects investor concerns about potential operational impacts and regulatory scrutiny following the tragedy. Alpha Metallurgical Resources is a leading producer of metallurgical coal in the United States.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- U.S. stocks slipped lower Thursday as an ongoing rotation out of big tech and waning odds of a December rate cut weighed on sentiment even with the ending of the longest ever U.S. government shutdown. 

At 1:02 p.m. ET (18:02 GMT), the Dow Jones Industrial Average slipped 485 points, or 1%, falling back from the previous session’s record close, S&P 500 index dropped1.3%, while the tech-heavy NASDAQ Composite underperformed, falling 2.1%.

Government shutdown ends

U.S. President Donald Trump signed a bill to unlock funding and end the longest government shutdown in U.S. history late on Wednesday, after the spending package was approved by the Republican-controlled House of Representatives.

The legislation, which will keep the government funded through January 30, was passed in a 222 to 209 House vote, mostly along party lines. The Senate signed off on it earlier this week.

The end of the shutdown brings an end to a 43-day period that has sparked widespread disruptions in federal services, most notable in air traffic and travel safety staffing, which in turn saw thousands of flights being cancelled across the country, potentially weighing on economic growth in the world’s largest economy. 

It is also likely to lead to the resumption of crucial data releases used by investors and policymakers to gauge the actual impact on the health of the U.S. economy.

"With a bit of luck, we may see job numbers starting early next week," analysts at ING said in a note.

However, Trump administration officials have warned that employment and inflation for October might never be published because of the shutdown. If so, this could leave Federal Reserve officials in particular without key pieces of data before their next interest rate decision in December.

Cisco lifts annual guidance 

The tech sector has been under pressure of late, but it received some positive news with Cisco Systems (NASDAQ:CSCO) raising its annual guidance, prompted a jump higher in its stock price.

In a wager on a surge in demand for the equipment needed to underpin massive data center expansion sparked by the AI boom, the U.S. networking gear provider said it expects fiscal 2026 revenue to be between $60.2 billion and $61 billion, versus prior projections of $59 billion to $60 billion.

Full-year adjusted per-share earnings are tipped to be $4.08 to $4.14, compared to $4 to $4.06 previously.

Cisco, whose fiscal first quarter results also topped Wall Street expectations, predicted that it would rake in $3 billion in AI infrastructure revenue during its current year.

Elsewhere, Walt Disney (NYSE:DIS) stock dropped after the entertainment giant reported a drop in revenue in its fiscal fourth-quarter profit, with a tepid reception to the group’s latest slate of studio releases weigheding on returns at its key entertainment unit.

Flutter Entertainment (LON:FLTRF) stock fell as the world’s largest sports betting and gambling company cut its full-year guidance, citing winning streaks from gamblers.

Starbucks (NASDAQ:SBUX) stock slipped back after the union representing workers at the coffee giant launched a strike in at least 40 cities Thursday on Red Cup Day, one of the chain’s biggest sales days of the year.

Peter Nurse, Ambar Warrick contributed to this article

Investing.com -- Off The Hook YS Inc. (NYSE American:OTH), a yacht and boat wholesaler, began trading on the NYSE American Thursday at $3.50 per share, below its initial public offering price of $4.00 per share.

The company priced its IPO at $4.00 per share on Wednesday, offering 3,750,000 shares of common stock for gross proceeds of $15,000,000 before deducting underwriting discounts and offering expenses.

Off The Hook plans to use the proceeds for working capital to service its floorplan, advertise and market its inventory, make potential down payments to acquire and develop waterfront properties for storage and service centers, and repay a promissory note.

The company specializes in buying and selling yachts and boats, combining advanced technology, proprietary AI-assisted valuation tools, and a data-driven sales platform to bring greater transparency and efficiency to yacht transactions.

Over the past decade, Off The Hook has established itself as a prominent wholesaler in the marine industry, earning recognition as one of the 500 fastest-growing companies in the United States by Inc. 500 for two consecutive years. It is also consistently ranked as a Top 100 Dealer in the USA by Boating Industry magazine.

Currently, Off The Hook generates over $90 million in annual boat and yacht sales, operating across eight locations with a team of more than 35 sales representatives who handle transactions for over 400 vessels each year.

The company has granted the underwriters a 45-day option to purchase up to an additional 562,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover any over-allotments.

ThinkEquity is serving as the sole book-running manager for the offering.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.