Shares of travel technology company Sabre (NASDAQ:SABR)
jumped 21.1% in the morning session after the company agreed to sell its hospitality solutions business to TPG for $1.1 billion. The proceeds from the sale were expected to significantly bolster SABR's cash reserves, giving it more flexibility to invest in growth areas such as its airline IT services and travel marketplace platforms. Additionally, the transaction supported the company's efforts to achieve its target leverage ratio of 2.5x to 3.5x, which could improve its appeal to investors.
Shares of fuel cell technology Plug Power (NASDAQ:PLUG) jumped 39.2% in the morning session after the company locked in a new loan of up to $525 million, boosting its cash pile and providing more headroom to support operations and future growth plans. It also shared strong early sales for the first quarter of 2025, beating Wall Street's estimates. Q1 2025 revenue guidance was estimated at around $130 million to $134 million.
UroGen Pharma reports strong long-term data for Jelmyto and UGN-102 in cancer studies and shares promising early results for UGN-301 in bladder cancer.
Boeing stock is trading higher on Monday after Bernstein upgraded the stock from a Market Perform rating to a Outperform rating and raised its price target from $181 to $218.
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