GLBS

U.S. Stock Market Update: U.S. stock futures declined on Monday after a positive end to the previous week, with major indices like the Dow Jones and S&P 500 experiencing slight drops. The market is anticipating a potential interest rate cut by the Federal Reserve in its upcoming meeting.

TikTok Ownership Transfer: President Trump announced that media and tech leaders, including Lachlan Murdoch, Larry Ellison, and Michael Dell, will invest in a deal to transfer TikTok's U.S. operations from its Chinese parent company, ByteDance, to American ownership, which he praised as a move by "American patriots."

Economic Concerns: Economist Justin Wolfers highlighted a significant policy dilemma for the Federal Reserve due to conflicting signals from rising inflation and slowing economic growth, suggesting that the solution lies in eliminating tariffs rather than relying solely on monetary policy.

Housing Market Decline: Recent data indicates a downturn in new construction, with building permits falling to their lowest level since May 2020, raising concerns about housing affordability and prompting discussions about the Federal Reserve's recent rate cuts and their potential impact on the housing market.

Firefly Aerospace Earnings: Firefly Aerospace Inc. is expected to report a quarterly loss of 46 cents per share on revenue of $17.25 million, with shares slightly down to $45.20.

PRA Group and Genfit Updates: PRA Group Inc. announced a €300 million senior notes offering, causing shares to drop 4.1%, while Genfit SA is set to release first-half earnings, with shares down 1.2%.

Globus Maritime Performance: Globus Maritime Ltd. reported better-than-expected second-quarter results, with a loss of 9 cents per share and sales of $9.538 million, leading to a 14.7% increase in shares to $1.30.

Marygold Companies Results: Marygold Companies Inc. posted a loss of 4 cents per share for the fourth quarter, with sales declining to $7.2 million, and shares closing at $1.07.

Financial Performance: Globus Maritime Limited reported a revenue of $9.5 million for Q2 2025 and $18.2 million for the first half of the year, with a net loss of $1.9 million in Q2 and $3.35 million for H1, attributed to unfavorable market conditions in the bulk shipping sector.

Fleet and Operations: The company operates a fleet of nine dry bulk carriers, with a weighted average age of 7.8 years, and is currently focused on short-term time charters. They expect to receive two additional fuel-efficient Ultramaxes in about a year as part of their fleet renewal strategy.