After-hours movers: NIO falls on notes offering, Block down as CEO to leave

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After-Hours Stock Movers

Terran Orbital Corp (NYSE:LLAP) 21% LOWER; announced that it intends to offer and sell in a public offering, subject to market and other conditions, shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase shares of common stock. Each share of common stock (or common stock equivalent in lieu thereof) will be sold with a warrant to purchase the company’s common stock.

Nio Inc Class A ADR (NYSE:NIO) 6% LOWER; announced a proposed offering (the Notes Offering) of $500 million in aggregate principal amount of convertible senior notes due 2029 (the 2029 Notes) and $500M in aggregate principal amount of convertible senior notes due 2030 (the 2030 Notes, and, together with the 2029 Notes, the Notes), subject to market conditions and other factors.

Carrier Global (NYSE:CARR) 3% HIGHER; said to explore listing commercial, home-fire unit, Bloomberg News reported.

Block Inc (NYSE:SQ) 2% LOWER; Alyssa Henry, the Square Chief Executive Officer of Block (SQ) will depart the Company effective October 2, 2023. Ms. Henry has worked at Block for over nine years and provided significant contributions to the Company during that time. Jack Dorsey, the company’s Block Head and Chairperson, will also serve as the Square Head.

Enphase Energy (NASDAQ:ENPH) 2% HIGHER; Director, Thurman Rodgers, disclosed the purchase of over $4M in stock.

Stem Inc (NYSE:STEM) 2% HIGHER; Director, David Buzby, disclosed the purchase of over $300,000 in stock.

United States Steel Corporation (NYSE:X) 1% HIGHER; provided third quarter 2023 adjusted net earnings per diluted share guidance of $1.10 to $1.15. Third quarter 2023 adjusted EBITDA is expected to be approximately $550M. (Consensus sees Q3 EPS of $1.01)