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Highlights
WK Kellogg Co shares advanced sharply after reports of acquisition talks with Ferrero
Meta Platforms Inc disclosed a strategic stake in eyewear leader EssilorLuxottica SA
Candel Therapeutics joined multiple Russell indexes following annual reconstitution
WK Kellogg Co, the well-known U.S. cereal brand featured on the S&P 500 Index, saw a sharp rise in post-market activity following reports indicating that Ferrero is nearing a deal to acquire the company. WK Kellogg, recognized for products like Froot Loops and Frosted Flakes, was reportedly valued in the multi-billion-dollar range as negotiations progress. The deal could reach closure within days, according to sources familiar with the matter. This news pushed trading volume significantly above typical after-hours levels.
Technology Sector: Meta Platforms Inc (TSX:META)
Meta Platforms Inc made headlines with its strategic equity acquisition in EssilorLuxottica SA, the global eyewear manufacturer behind Ray-Ban. This move supports Meta's focus on augmented reality wearables, a growing segment in its hardware ambitions. The stake falls just under a controlling interest, indicating a long-term alignment in developing AI-powered eyewear solutions. This transaction aligns with Meta’s broader roadmap centered around immersive technologies.
Biopharmaceuticals: Candel Therapeutics Inc
Candel Therapeutics Inc announced its inclusion in several value-based Russell indexes as part of the annual rebalancing process. The change, effective at the start of July trading, reflects adjustments in market capitalization and investment style. CADL focuses on immuno-oncology therapies, and its recent index inclusion enhances its visibility across institutional screens, particularly within quantitative and passive strategies.
Renewable Energy: Ocean Power Technologies Inc
Ocean Power Technologies Inc confirmed the deployment of its latest PowerBuoy system in Monterey Bay, developed for the Naval Postgraduate School. The new installation includes OPT’s proprietary Merrows suite, integrating smart energy modules and communication systems. The deployment marks a significant operational milestone in advancing maritime energy solutions for defense and autonomous systems.
Advanced Materials: Black Swan Graphene (TSX:SWAN)
Black Swan Graphene, listed on the TSX Venture Composite Index, received a new patent from the United States Patent and Trademark Office for its continuous production process of high-quality sub-micron graphene. This proprietary method supports scalable and efficient output, targeting uses in polymers, energy storage, electronics, and concrete reinforcement. The patent strengthens SWAN’s technology portfolio within the advanced materials sector.
Mining & Fertilizer: Millennial Potash Corp (TSX:MLP)
Millennial Potash Corp, also on the TSX Venture Composite Index, reported a financial commitment from the U.S. International Development Finance Corporation. The funding will support a feasibility study for the Banio Potash Project in Gabon. The initiative aims to transition the site into an operational fertilizer resource, contributing to global agricultural sustainability efforts.
