ESEA News & Events

New records highs in the S&P 500 and Nasdaq Composite indices - along with a retreat in the Vix index to the lowest level since the start of the U.S.-Iran conflict - suggest that investors are looking through the geopolitical uncertainty.  Instead, with more large banks reporting constructive results, including Morgan Stanley'sQ1 beat this morning that sent the stock to all-time highs, the markets are positioning for further risk-on flows.  Tech was the standout sector on Wednesday, with beaten down Software names extending their strong performance this week, followed by Consumer Cyclicals and Communication Services, whereas Basic Materials and Industrials - areas of refuge throughout the AI disruption narrative - underperformed.In the opening hour of the evening session, U.S. equity futures are flat, though WTI Crude Oil remains under pressure near $90.  FT report of a potential ceasefire between Israel and Lebanon - a sticking point in the U.S.-Iran negotiation process - is continuing the theme of de-escalation in the Middle East.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -J.B. Huntup 1.8%ALSO HIGHER -CareDxup 8.4% after Q1 pre-announcement, Lab Products divestmentVoyager Technologiesup 8.1% after NASA order announcementPPG Industriesup 5.0% after positive Q1 pre-announcement, price increaseEuroseasup 2% after contract extension for EM KeaConagra Brandsup 1.0% on insider buying activityDOWN AFTER EARNINGS -MIND Technologydown 16.8%SL Green Realtydown 2.5%Home BancShares, Inc.down 1.4%ALSO LOWER -QuidelOrthodown 18.9% after below-consensus Q1 pre-announcementFord Motordown 1% after departure of EV executive

Euroseas announced a charter contract extension for its 2007-built 3,100 teu feeder containership, EM Kea, for a minimum period of 36 to a maximum period of 38 months, at the charterer's option, at a gross daily rate of $30,000. The new charter period will commence on July 14, in direct continuation of its present charter, and represents a daily increase of close to 60% over the vessel's current rate.

Euroseas announced that it has signed a contract for the construction of two specialized 2,800 teu, high-reefer containerships to be built at Huanghai Shipbuilding in China. Both vessels will be built to EEDI Phase 3 and IMO NOx Tier III standards, and with over 1,000 reefer plugs, they are optimized for high-reefer density trades, providing increased capacity for refrigerated cargo. The vessels are scheduled to be delivered in June and August of 2028. The total acquisition price for each of the two newbuildings is approximately $46.35M and will be financed with a combination of debt and equity. The newbuilding contract also provides the company with the option to order up to four additional vessels of similar size, with high reefer plugs or conventional, within a short period of time.