Welcome to our dedicated page for Stonemor news (Ticker: STON), a resource for investors and traders seeking the latest updates and insights on Stonemor stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Stonemor's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Stonemor's position in the market.
StoneMor Inc. (NYSE: STON) announced an unsolicited proposal from Axar Capital Management to acquire all outstanding shares not owned by Axar for $0.67 per share, representing a 17% premium over the average share price. Axar, which owns 52% of the company, intends to fund the acquisition through equity. The Board has formed a special committee to evaluate the proposal. Additionally, StoneMor entered a purchase agreement with Axar for 23.3 million shares at $0.73 each, amounting to $17 million, closing in June 2020.
StoneMor Inc. (NYSE: STON) reported first-quarter 2020 revenues of $71.2 million, slightly down from $71.5 million in the previous year. The cemetery segment's operating income rose to $5.2 million, while funeral home segment income reached $2.0 million. Corporate overhead decreased significantly to $8.5 million from $13.4 million. The company posted a net income of $9.0 million, boosted by a $24.1 million gain on sales. Excluding this gain, the operating loss improved to $1.5 million from $9.4 million.
StoneMor Inc. (NYSE: STON) announced it will release its Q1 2020 financial results on May 14, 2020, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day. Interested parties can join the call by dialing (800) 734-8592, with early log-in recommended due to pandemic-related precautions. The results and further details will also be accessible via a live webcast on StoneMor's website under the Events & Presentations section.