Ultime notizie per GSE Systems (NASDAQ:GVP) Azioni

GSE Systems

GSE Systems Inc is a company engaged in providing engineering, staffing, and simulation software to clients in the power and process industries. It also provides interactive computer-based tutorials and simulation software for the refining, chemical, and petrochemical industries. It functions through two segments: The engineering segment and the Workforce Solutions segment. Its geographical segments include the United States, Europe, and Asia, out of which the majority of the revenue is generated from the United States.

GSE Systems Inc

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4290177-1&amp;h=1679033116&amp;u=https%3A%2F%2Fwww.gses.com%2F&amp;a=GSE+Solutions">GSE Solutions</a>&nbsp;("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that its stockholders overwhelmingly approved its merger with an affiliate of Pelican Energy Partners ("Pelican"). Pursuant to the terms of the merger agreement, dated August 8, 2024 and amended October 20, 2024 ("Merger Agreement"), Pelican will acquire all of the outstanding common stock of GSE for $4.60 per share.

Stockholders Approve GSE Solutions Merger With Pelican Energy Partners, Pelican Will Acquire All Of The Outstanding Common Stock Of GSE For $4.60 Per Share

GSE Solutions&nbsp;("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that independent proxy advisory firm Glass Lewis &amp; Co., LLC ("Glass Lewis") recommended that GSE shareholders vote "FOR" the approval of the Agreement and Plan of Merger, dated as of August 8, 2024 (the "Merger Agreement"), by and between GSE, Nuclear Engineering Holdings LLC, and Gamma Nuclear Merger Sub LLC (the "Merger Proposal").

Glass Lewis Recommends Shareholders Vote 'FOR' The GSE Merger

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4283644-1&amp;h=847335302&amp;u=https%3A%2F%2Fwww.gses.com%2F&amp;a=GSE+Solutions">GSE Solutions</a> ("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that it wished to thank all of its stockholders who have already voted overwhelmingly in favor of its merger with an affiliate of Pelican Energy Partners ("Pelican") in an all-cash transaction (the "Merger"). Following the amendment to increase merger consideration, GSE now reminds stockholders that, under the terms of the amended merger agreement, which was unanimously approved by the board of the directors of GSE, Pelican will acquire all the outstanding shares of GSE for an estimated total cash consideration of $4.60 per share.

GSE Solutions Encourages Stockholders To Vote 'FOR' The AMENDED Merger

Bradley L. Radoff, who collectively with his affiliates owns approximately 9.9% of the outstanding shares of GSE Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) ("GSE" or the "Company"), today issued the below follow-up letter to the Chair of the Company's Board of Directors (the "Board"), Kathryn O'Connor Gardner, in response to the Company's filing of an amended merger agreement with Pelican Energy Partners ("Pelican").
Mr. Radoff previously announced his <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20241018616185%2Fen%2FBradley-L.-Radoff-Issues-Open-Letter-to-GSE-Systems%25E2%2580%2599-Board-of-Directors-to-State-Opposition-to-Proposed-Sale-to-Pelican-Energy-Partners&amp;esheet=54139704&amp;newsitemid=20241021970372&amp;lan=en-US&amp;anchor=opposition+to&amp;index=1&amp;md5=e1d32b33784afe0d2cf5ccdc7ff30957">opposition to</a> the Company's proposed take-private merger with Pelican and has <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20241021623109%2Fen%2FBradley-L.-Radoff-Urges-GSE-Systems%25E2%2580%2599-Board-Chair-Kathryn-O%25E2%2580%2599Connor-Gardner-to-Release-2025-Projections&amp;esheet=54139704&amp;newsitemid=20241021970372&amp;lan=en-US&amp;anchor=repeatedly+demanded&amp;index=2&amp;md5=64d53bb456ed81ff28a3ec6d7806965e">repeatedly demanded</a> the Board and Ms. Gardner release normal course forward-looking projections so shareholders can fairly evaluate the Pelican transaction.
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GSE Systems, Inc. 6940 Columbia Gateway Drive, Suite 470 Columbia, MD 21046 Attention: Kathryn O'Connor Gardner, Chair of the Board of Directors
October 21, 2024
Dear Ms. Gardner,
As recently as last week, GSE's Board told shareholders that $4.10 per share was a great outcome without providing its forward-looking business projections for the Company to substantiate this claim. The Board's behavior raised several questions including: how are shareholders expected to appropriately evaluate the deal without customary projections? And how did the Company's advisors and directors conclude that the deal represented a fair offer?
Today, the Company has now disclosed that Pelican significantly raised its offer price to $4.60 per share – yet it still refuses to provide customary projections or reset the record date to account for the significant number of shares that have traded over the last two weeks. Again, we ask: how are shareholders expected to effectively assess Pelican's amended offer without the Company's 2025 projections and ample time to digest this recent information?
Once again, GSE's inexperienced Board – which has de minimis equity ownership of the Company – is doing shareholders a severe disservice by neglecting to provide information critical to our ability to evaluate the Company at a time when it appears poised to benefit from a renaissance in the nuclear power industry.
Sincerely,
Bradley L. Radoff

News

Guidance

Management

Investor Bradley L. Radoff Reiterates Call For GSE Systems' Board Chair Kathryn O'Connor Gardner To Disclose 2025 Projections

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4282396-1&amp;h=1952622028&amp;u=https%3A%2F%2Fwww.gses.com%2F&amp;a=GSE+Solutions">GSE Solutions</a> ("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that it has entered into an amendment to the merger agreement with an affiliate of Pelican Energy Partners, which was previously announced on August 8, 2024. Pursuant to the amended merger agreement, GSE's common stock outstanding immediately prior to the effective time of the merger will be converted into the right to receive $4.60 per share in cash. This represents an increase of approximately 12.2% over the $4.10 of per share merger consideration previously agreed to by GSE and Pelican. In addition, the new per share merger consideration represents a premium of approximately 69% over the closing price of the GSE common stock as of August 7, 2024, the last trading day on NASDAQ prior to public announcement of the merger agreement and a premium of approximately 29% over the average 30-day volume weighted average price as of such date.

GSE Solutions And Pelican Energy Partners Announce Amendment To Merger Agreement Providing For Increase In Merger Consideration From $4.10 To $4.60 Per Share

~10% Shareholder Believes Proposed Sale Represents an Egregious "Take Under" and Significantly Undervalues the Company
Urges the Board to Consider Shareholders' Best Interests and Disclose the Company's 2025 Projections so Investors Can Accurately Value the Company Against the Deal Price
Bradley L. Radoff, who collectively with his affiliates owns approximately 9.9% of the outstanding shares of GSE Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) ("GSE" or the "Company"), today sent the below letter to GSE Systems' Board of Directors (the "Board") indicating its opposition to the proposed take-private merger with Pelican Energy Partners ("Pelican").
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GSE Systems, Inc. 6940 Columbia Gateway Drive, Suite 470 Columbia, MD 21046 Attention: The Board of Directors
October 18, 2024
Members of the Board,
I am one of GSE's largest shareholders, with an approximately 9.9% stake in the Company. After reviewing the Company's belated and limited disclosures, I believe the proposed sale to Pelican significantly undervalues the Company and puts leadership's interests ahead of shareholders' best interests.
The Board, which collectively has limited public company experience and de minimis share ownership, appears to have allowed the Company to develop liquidity issues that have become the basis for what is seemingly a fire sale. Now, with this deal, the Board is seemingly doubling down on its missteps by giving up on the Company right as the nuclear power industry is entering a renaissance that should be a significant tailwind for GSE and its prospects for enhanced value creation.
Despite GSE's apparent runway for improved financial performance, you have refused to provide a view on the business for 2025. As a result, shareholders are unable to appropriately analyze the Company's prospects and evaluate a standalone future relative to the current deal. The Board's contention that it cannot provide projections because management's forecasts have historically been unreliable simply serves as an acknowledgment of your failures when it comes to governing the business and overseeing the executive leadership you put in place.
With respect to your decision to deprive shareholders of relevant information, it is highly unusual that the Company's definitive proxy statement for the merger did not contain forward-looking business projections. I appear to be one of the many shareholders who are disappointed with this insufficient disclosure. The Company's Form-8-K filed on October 8th, 2024 – just two weeks prior to the shareholder vote – was purportedly only put out in response to "demand letters alleging similar deficiencies and/or omissions regarding the disclosures made in the Preliminary Proxy Statement or the Definitive Proxy Statement."1
In the October 8th 8-K, GSE provided a mere glimpse of very encouraging and positive projections that implied more than $0.30 of quarterly earnings for a Company that currently trades at around $4. The projections, while incomplete, appear to show that the Company is beginning to materially benefit from the nuclear resurgence. Given this context, I am calling on you to provide the market with customary disclosures regarding the Company's forward-looking projections so shareholders can make the most informed decision on the transaction. If the Company continues to provide such limited disclosures as it did in the October 8th 8-K, then it should at least reset the record date for the Pelican merger to enable the investment community to sufficiently digest this new, albeit limited, information.
While the Company's legal counsel and bankers – who stand to make millions if the deal goes through – may have signed off on the disclosures to this point, the Board should know that this deal fails the smell test. Nothing in the merger agreement prevents you from providing more information and transparency to shareholders. I believe your decision to effectively keep GSE shareholders in the dark will define your directorship at GSE and be a black mark for any of you who intend to pursue other director opportunities. Shareholders have long memories.
While you have trumpeted Institutional Shareholder Services' recent report as an endorsement, I don't believe shareholders should give it any credence. The report neglects to mention the lack of initial projections, the magnitude of the late projections and the recent trading activity indicating that shareholders believe there is more value than is being offered by Pelican. In fact, approximately 30% of the Company's outstanding shares have traded at or above the deal price this week.
In closing, I believe an independent GSE has significant upside potential. The Board failed to provide projections prior to the record date and then reluctantly offered limited disclosure just two weeks prior to the shareholder meeting. This set of circumstances, combined with a comical fairness opinion and egregious transaction expenses, are very troubling. I once again demand normal course forward projections so that shareholders, who are the owners of the business, can fairly evaluate the Pelican transaction.
Sincerely,
Bradley L. Radoff

~10% Shareholder Bradley L. Radoff Issues Open Letter To GSE Systems' Board Of Directors To State Opposition To Proposed Sale To Pelican Energy Partners; Believes Proposed Sale Represents An Egregious "Take Under" And Significantly Undervalues The Company

GSE Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) reported quarterly earnings of $0.02 per share. This is a 103.77 percent increase over losses of $(0.53) per share from the same period last year. The company reported $11.72 million in sales this quarter. This is a 5.34 percent decrease over sales of $12.39 million the same period last year.

Earnings

GSE Systems Q2 Adj $0.02 Up From $(0.53) YoY, Sales $11.72M Down From $12.39M YoY

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 450 points on Thursday.
The Dow traded up 1.70% to 39,423.02 while the NASDAQ rose 2.79% to 16,647.90. The S&amp;P 500 also rose, gaining, 2.25% to 5,316.73.
Leading and Lagging Sectors Information technology shares climbed by 3.3% on Thursday.
In trading on Thursday, utilities shares rose by just 0.5%.
Top Headline US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>) reported better-than-expected sales for the second quarter.
The company reported adjusted earnings per share of 93 cents, in line with the street view. Quarterly sales of $9.70 billion (+7.7%) outpaced the analyst consensus of $9.64 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>XPEL, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEL#NASDAQ">XPEL</a>) shares shot up 41% to $44.86 after the company reported better-than-expected second-quarter financial results.</li>
<li>Shares of Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) got a boost, surging 43% to $25.41 after the company reported better-than-expected first-quarter financial results.</li>
<li>GSE Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) shares were also up, gaining 45% to $3.9565 after the company announced it will be acquired by Pelican Energy Partners for $4.10 per share.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Cardlytics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) shares dropped 57% to $2.96 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Shares of Outset Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OM#NASDAQ">OM</a>) were down 63% to $1.27 after the company reported worse-than-expected second-quarter financial results and cut its FY24 revenue guidance.</li>
<li>Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) was down, falling 31% to $5.57 after the company reported worse-than-expected second-quarter revenue results. Also, multiple firms downgraded their respective ratings and price targets on the stock.</li>
</ul>
Commodities In commodity news, oil traded up 1.2% to $76.16 while gold traded up 1.3% at $2,464.10.
Silver traded up 2.6% to $27.64 on Thursday, while copper rose 0.5% to $3.9705.
Euro zone
European shares closed mixed today. The eurozone's STOXX 600 rose 0.08%, Germany's DAX rose 0.37% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index fell 0.39%, while London's FTSE 100 fell 0.27%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 falling 0.74%, Hong Kong's Hang Seng Index gaining 0.08%, China's Shanghai Composite Index rising 0.002% and S&amp;P BSE Sensex falling 0.73%.
Economics
<ul>
<li>U.S. initial jobless claims declined by 17,000 to 230,000 in the week ending August 3, compared to market estimates of 240,000.</li>
<li>U.S. wholesale inventories increased by 0.2% month-over-month to $903 billion in June, compared to revised 0.5% rise in the earlier month.</li>
<li>U.S. natural gas supplies rose 21 billion cubic feet during the week ended Aug. 2, compared to market estimates of a 22 billion cubic feet gain.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>

Equities

Eurozone

Commodities

Markets

Trading Ideas

BMBL

CDLX

USFD

VSAT

XPEL

Crude Oil Gains 1%; US Foods Sales Top Views

U.S. stocks traded higher midway through trading, with the Dow Jones gaining more than 500 points on Thursday.
The Dow traded up 1.40% to 39,307.07 while the NASDAQ rose 2.14% to 16,543.06. The S&amp;P 500 also rose, gaining, 1.79% to 5,292.43.
Leading and Lagging Sectors Information technology shares climbed by 1.6% on Thursday.
In trading on Thursday, utilities shares fell by 0.2%.
Top Headline Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) reported better-than-expected second-quarter financial results and raised its full-year guidance.
Eli Lilly reported second-quarter revenue of $11.3 billion, up 36% year over year, easily surpassing the consensus of $9.95 billion. The company reported adjusted EPS of $3.92, up from $2.11 a year ago and beating the consensus of $2.70.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>XPEL, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XPEL#NASDAQ">XPEL</a>) shares shot up 38% to $43.74 after the company reported better-than-expected second-quarter financial results.</li>
<li>Shares of Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) got a boost, surging 34% to $23.88 after the company reported better-than-expected first-quarter financial results.</li>
<li>GSE Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) shares were also up, gaining 45% to $3.9650 after the company announced it will be acquired by Pelican Energy Partners for $4.10 per share.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Cardlytics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) shares dropped 57% to $2.97 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Shares of Outset Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OM#NASDAQ">OM</a>) were down 61% to $1.33 after the company reported worse-than-expected second-quarter financial results and cut its FY24 revenue guidance.</li>
<li>Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) was down, falling 33% to $5.43 after the company reported worse-than-expected second-quarter revenue results. Also, multiple firms downgraded their respective ratings and price targets on the stock.</li>
</ul>
Commodities In commodity news, oil traded up 1.2% to $76.14 while gold traded up 0.9% at $2,454.30.
Silver traded up 1.8% to $27.45 on Thursday, while copper rose 0.3% to $3.9635.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.03%, Germany's DAX rose 0.21% and France's CAC 40 fell 0.30%. Spain's IBEX 35 Index fell 0.47%, while London's FTSE 100 fell 0.36%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 falling 0.74%, Hong Kong's Hang Seng Index gaining 0.08%, China's Shanghai Composite Index rising 0.002% and S&amp;P BSE Sensex falling 0.73%.
Economics
<ul>
<li>U.S. initial jobless claims declined by 17,000 to 230,000 in the week ending August 3, compared to market estimates of 240,000.</li>
<li>U.S. wholesale inventories increased by 0.2% month-over-month to $903 billion in June, compared to revised 0.5% rise in the earlier month.</li>
<li>U.S. natural gas supplies rose 21 billion cubic feet during the week ended Aug. 2, compared to market estimates of a 22 billion cubic feet gain.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a></li>
</ul>

Dow Jumps Over 500 Points; Eli Lilly Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the S&amp;P 500 gaining around 1% on Thursday.
The Dow traded up 0.69% to 39,031.86 while the NASDAQ rose 1.33% to 16,411.69. The S&amp;P 500 also rose, gaining, 1.07% to 5,255.11.
Leading and Lagging Sectors Information technology shares climbed by 1.6% on Thursday.
In trading on Thursday, utilities shares fell by 0.2%.
Top Headline U.S. initial jobless claims declined by 17,000 to 230,000 in the week ending August 3, compared to market estimates of 240,000.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Conduit Pharmaceuticals Inc. &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) shares shot up 100% to $0.3304 after the company announced it entered into an exclusive license agreement with AstraZeneca to develop AZD1656 and AZD5658.</li>
<li>Shares of Comstock Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LODE#NASDAQ">LODE</a>) got a boost, surging 30% to $0.1949 after the company announced the execution of an indicative term sheet for $325 million in funding through SBC Commerce LLC.</li>
<li>GSE Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) shares were also up, gaining 45% to $3.97 after the company announced it will be acquired by Pelican Energy Partners for $4.10 per share.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Cardlytics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDLX#NASDAQ">CDLX</a>) shares dropped 55% to $3.0480 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Shares of Outset Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OM#NASDAQ">OM</a>) were down 50% to $1.67 after the company reported worse-than-expected second-quarter financial results and cut its FY24 revenue guidance.</li>
<li>Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) was down, falling 38% to $5.01 after the company reported worse-than-expected second-quarter revenue results. Also, multiple firms downgraded their respective ratings and price targets on the stock.</li>
</ul>
Commodities In commodity news, oil traded up 0.1% to $75.30 while gold traded up 0.7% at $2,448.90.
Silver traded up 0.7% to $27.135 on Thursday, while copper rose 0.1% to $3.9555.
Euro zone
European shares were mostly lower today. The eurozone's STOXX 600 fell 0.2%, Germany's DAX rose 0.1% and France's CAC 40 fell 0.4%. Spain's IBEX 35 Index fell 0.4%, while London's FTSE 100 fell 0.6%.
Asia Pacific Markets
Asian markets closed mixed on Thursday, with Japan's Nikkei 225 falling 0.74%, Hong Kong's Hang Seng Index gaining 0.08%, China's Shanghai Composite Index rising 0.002% and S&amp;P BSE Sensex falling 0.73%.
Economics
U.S. initial jobless claims declined by 17,000 to 230,000 in the week ending August 3, compared to market estimates of 240,000.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40253347/top-3-utilities-stocks-that-could-lead-to-your-biggest-gains-this-month">Top 3 Utilities Stocks That Could Lead To Your Biggest Gains This Month</a>

LODE

S&P 500 Gains 1%; US Jobless Claims Fall To 230,000

WIIM

GSE Systems shares are trading higher after the company announced it will be acquired by Pelican Energy Partners for $4.10 per share.

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4229096-1&amp;h=3785330681&amp;u=https%3A%2F%2Fwww.gses.com%2F&amp;a=GSE+Solutions">GSE Solutions</a> ("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that it has entered into a definitive merger agreement to be acquired by Pelican Energy Partners ("Pelican") in an all-cash transaction. Under the terms of the merger agreement, which was unanimously approved by the board of the directors of GSE, Pelican will acquire all the outstanding shares of GSE for an estimated total cash consideration of $4.10 per share. The consideration per share represents a premium of approximately 50% to GSE's closing share price as of August 7, 2024.
The company plans on filing a proxy statement regarding the proposed transaction with the Securities and Exchange Commission (SEC) and the transaction is expected to close in the third or fourth quarter of 2024, subject to the approval by shareholders of GSE and the satisfaction of other customary closing conditions.

GSE Solutions To Be Acquired By Pelican Energy Partners For An Estimated Total Cash Consideration Of $4.10 Per Share

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Shares of companies within the broader technology sector are trading lower amid a selloff in chips and AI-related stocks.

Rolls-Royce SMR has enlisted GSE Solutions to develop a power station simulator, as it continues to mature the design of its Small Modular Reactor (SMR) technology and remains on track to complete Step 2 of the Generic Design Assessment this summer. &nbsp;
COLUMBIA, Md., July 10, 2024 /PRNewswire/ -- <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4208012-1&amp;h=1657002594&amp;u=https%3A%2F%2Fwww.gses.com%2F&amp;a=GSE+Solutions">GSE Solutions</a> ("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) is a world leader in advanced engineering and workforce solutions across the clean-energy and power industries. This simulator will play a key role in Rolls-Royce SMR's program to develop, verify and validate the performance and control systems of its unique 'factory-built' nuclear power plant.&nbsp; It forms part of a much wider program of development activities that are focussed on ensuring the 'delivery-certain' nature of the plant.&nbsp;

Contracts

Rolls-Royce SMR Signs $1.5M Contract With GSE Solutions To Develop A Power Station Simulator

GSE Systems shares are trading higher after the company announced that it was awarded a contract by a major utility company for nuclear flow accelerated corrosion update services.

GSE Solutions Awarded Contract Valued More Than $700K For Provision Of Services Related To Flow Accelerated Corrosion And Erosion Programs For Utility Company

<h3>Gainers</h3>
<ul>
<li>Focus Universal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCUV#NASDAQ">FCUV</a>) shares rose 11.8% to $0.26 during Friday's after-market session. The company's market cap stands at $16.8 million. </li>
<li>CISO Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CISO#NASDAQ">CISO</a>) shares increased by 10.16% to $0.8. The market value of their outstanding shares is at $9.8 million. </li>
<li>Verb Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERB#NASDAQ">VERB</a>) shares rose 9.11% to $0.18. The market value of their outstanding shares is at $18.7 million. </li>
<li>Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) stock increased by 8.12% to $217.99. The company's market cap stands at $46.6 billion. </li>
<li>Inuvo (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/INUV#AMEX">INUV</a>) shares moved upwards by 4.31% to $0.27. The company's market cap stands at $37.2 million. </li>
<li>Stronghold Digital Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDIG#NASDAQ">SDIG</a>) shares moved upwards by 3.52% to $2.94. The market value of their outstanding shares is at $38.1 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Baijiayun Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>) shares decreased by 7.0% to $0.83 during Friday's after-market session. The market value of their outstanding shares is at $72.6 million. </li>
<li>TROOPS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) stock decreased by 5.97% to $1.42. The market value of their outstanding shares is at $144.2 million. </li>
<li>Maxeon Solar Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) shares fell 5.86% to $1.77. The market value of their outstanding shares is at $97.1 million. The company's, Q4 earnings came out yesterday. </li>
<li>Brand Engagement Network (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) shares decreased by 5.33% to $5.15. The market value of their outstanding shares is at $171.6 million. </li>
<li>NextNav (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NN#NASDAQ">NN</a>) stock decreased by 4.88% to $7.51. The company's market cap stands at $906.4 million. </li>
<li>GSE Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) stock declined by 4.85% to $3.93. The company's market cap stands at $12.7 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

ADSK

CISO

FCUV

INUV

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

SDIG

VERB

12 Information Technology Stocks Moving In Friday's After-Market Session

GSE Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>) reported quarterly losses of $(0.35) per share which beat the analyst consensus estimate of $(0.48) by 27.08 percent. This is a 68.75 percent increase over losses of $(1.12) per share from the same period last year. The company reported quarterly sales of $11.283 million which missed the analyst consensus estimate of $12.908 million by 12.59 percent. This is a 3.77 percent increase over sales of $10.873 million the same period last year.

Earnings Beats

Earnings Misses

GSE Systems Q1 2024 Adj EPS $(0.35) Beats $(0.48) Estimate, Sales $11.283M Miss $12.908M Estimate

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4163222-1&amp;h=822863412&amp;u=https%3A%2F%2Fwww.gses.com%2F&amp;a=GSE+Solutions">GSE Solutions</a>&nbsp;("GSE Systems, Inc." or "GSE") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GVP#NASDAQ">GVP</a>), a leader in advanced engineering and workforce solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, today announced the appointment of Mr. Damian DeLongchamp as Chief Operating Officer (COO).

GSE Solutions Names Damian DeLongchamp As COO

Kyle&nbsp;Loudermilk has submitted a letter of resignation to the Board of Directors and will remain with the company through&nbsp;May 31, 2024&nbsp;to assist in transition.

GSE Solutions Names Ravi Khanna As President And CEO, Effective Immediately

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
GSE Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/gvp-stock-quote/">GVP</a>) just reported results for the second quarter of 2024.<ul><li>GSE Systems reported earnings per share of 2 cents.</li><li>The company reported revenue of $11.73 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/gvp-stock-earnings-gse-systems-for-q2-of-2024/">GVP Stock Earnings: GSE Systems Reported Results for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

GVP Stock Earnings: GSE Systems Reported Results for Q2 2024

GSE Systems Non-GAAP EPS of $0.02, revenue of $11.7M

Bradley L. Radoff, who collectively with his affiliates owns approximately 9.9% of the outstanding shares of GSE Systems (GVP) issued the below ope...

GSE Systems' holder Radoff urges board chair to release 2025 projection

GSE Solutions has entered into an amendment to the merger agreement with an affiliate of Pelican Energy Partners announced on August 8. Pursuant to...

GSE Systems and Pelican Energy Partners increase merger consideration

Bradley L. Radoff, who collectively with his affiliates owns approximately 9.9% of the outstanding shares of GSE Systems (GVP), issued the below fo...

Radoff reiterates call for GSE Systems board Chair Gardner to make disclosures

GSE Systems (GVP) issued a statement thanking stockholders who have already voted in favor of its merger with an affiliate of Pelican Energy in an ...

GSE Systems's board issues statement in favor of merger with Pelican

GSE Systems ( ($GVP) ) has provided an update. GSE Systems, Inc. has announced an amended merger with Pelican Energy Partners, offering stockholder...

GSE Systems Announces Merger with Pelican Energy

GSE Solutions announced that independent proxy advisory firm Glass Lewis & Co. recommended that GSE shareholders vote "FOR" the approval of the Agr...

GSE Systems announces Glass Lewis recommended shareholders to vote FOR merger

GSE Solutions announced that its stockholders overwhelmingly approved its merger with an affiliate of Pelican Energy Partners. Pursuant to the term...

GSE Systems shareholders approve merger with Pelican Energy Partners

The latest update is out from GSE Systems ( ($GVP) ). GSE Solutions has successfully merged with Pelican Energy Partners, with the merger receiving...

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