Asur’s Stock Price Drops on Mexican Exchange
Grupo Aeroportuario del Sureste (Asur), a leading airport operator in Mexico, experienced significant declines on the Mexican Stock Exchange during Wednesday’s trading session.
Asur’s shares fell by 6.57% to 621.98 pesos per title, marking its second consecutive drop and the most substantial decline since October 5, 2023. The largest sellers of Asur stocks during Wednesday’s session were brokerage firms Goldman Sachs, Finamex, and Morgan Stanley, accounting for 28.4%, 18%, and 15.4% of total selling volume, respectively.
Junee to Change Name and Focus on AI Infrastructure
Junee, a technology company, announced on Wednesday that its board of directors approved proposals to change its name to SuperX AI Technology and concentrate on providing artificial intelligence (AI) infrastructure tools.
Junee plans to offer comprehensive AI infrastructure for computing, model hosting, data streaming, and system-level orchestration under its new brand. The company anticipates the name change and business focus shift to take effect on June 2, pending regulatory approval. Junee’s shares are expected to start trading under the new ticker symbol SUPX on that day, according to the company.
Macy’s Revises 2025 Earnings Outlook Amid Challenges
Macy’s, a prominent department store retailer, reported better-than-expected first-quarter fiscal results but revised its earnings guidance downward for the entire year due to tariff impacts, moderating discretionary spending, and increased promotional activity.
Macy’s now expects adjusted earnings per share of between 1.60 and 2 dollars for fiscal year 2025, falling short of its previous projections of 2.05 to 2.25 dollars. The company maintained its sales forecast of 21,000 million to 21,400 million for the current fiscal year, which aligns with the current FactSet consensus estimate of 21,003 million dollars.
Macy’s CFO Adrian Mitchell stated during an earnings call that the revised outlook provides flexibility to navigate an uncertain promotional environment and competitive landscape, as consumers are expected to become “more selective” throughout the year.
RLH Properties Initiates Capital Raise Period
RLH Properties, a Mexican company specializing in luxury beach and city hotels, announced the commencement of the preference period for subscribing to a capital increase approved by its shareholders in late April.
During this period, shareholders who choose to participate can do so at their pro-rata (or below) or above proportionate level. The preference period ends on June 10.
Shareholders of RLH Properties approved a capital increase equivalent to 4,327 million 732,500 pesos (224.4 million dollars). Of this amount, 1,749 million 453,077 pesos (90.7 million dollars) correspond to the fixed capital portion increase, with corresponding shares being issued.
Key Questions and Answers
- What caused Asur’s stock price to drop? Asur’s shares fell due to broader market sentiment and significant selling pressure from major brokerage firms.
- Why is Junee changing its name and focus? Junee aims to rebrand as SuperX AI Technology to emphasize its commitment to providing comprehensive AI infrastructure tools.
- What factors led Macy’s to revise its earnings outlook? Tariffs, moderating discretionary spending, and increased promotional activity prompted Macy’s to lower its earnings expectations for fiscal year 2025.
- What does RLH Properties’ capital raise entail? RLH Properties is offering shareholders the opportunity to subscribe to a capital increase, with the preference period ending on June 10.
