Boston, MA 06/26/2014 (wallstreetpr) – PowerSecure International, Inc. (NYSE:POWR) gained almost 22 percent in the previous session on the back of five times the normal volume following a positive press release issued by the company. The company announced a successful contract renegotiation that enables it to improve the terms of the ongoing service. The company expects to regain profitability, as a result, of the contract modification. The contract involves one of its major utility customers.
PowerSecure International, Inc. (NYSE:POWR) provides energy management and conservation solutions to its utility customers. The modification of the contract terms comes at a time when the company has witnessed its gross margin decline over the last one year. Shares of the company are down more than 44 percent since the beginning of this year.
Sequential Brands Group Inc (NASDAQ:SQBG) has reportedly agreed to acquire rival Galaxy Brands Holdings in a move that would double the annual sales of the brand licensing company. Sources say Sequential (SQBG) is ready to pay $260 million for Galaxy, of which $100 million will be made in cash and the rest in stock. Acquisitions in the brand management and licensing space have become commonplace in recent times as players seek to add to their portfolio highflying brands that can leverage their existing portfolio through more retail channels and business networks.
Galaxy Brands is majority owned by private equity firm Carlyle Group, which made an investment in it in 2013. The company has about $1 billion in annual sales. Sequential Brands Group Inc (NASDAQ:SQBG) is one of the leading brand management companies. Its competitors include Iconix Brand Group and Authentic Brands Group.
General Steel Holdings Inc (NYSE:GSI) is so confident about its turnaround that the management has moved to update earnings estimate for the second half of 2014. The company expects to earn between $0.08 and $0.12 for the six months ending December 31. It expects sales in the range of $1.3 – $1.4 billion for the same duration. General Steel (NYSE:GSI) is a non-state owned steel company.