Reconnaissance Energy Africa Ltd (TSX-V:RECO, OTCQX:RECAF) (ReconAfrica) announced that it has completed pre-drill evaluations and remains on track with pre-construction work ahead of drilling its largest-ever target, Prospect I, located onshore Namibia in Petroleum Exploration Licence 073.
The onshore Prospect I aims for up to 365 million barrels of unrisked and 32 million of risked light to medium oil or 1.9 trillion cubic feet of unrisked and 140 billion cubic feet of risked natural gas, ReconAfrica said in a progress update on Thursday.
United States Steel Corporation (NYSE:X) shares fell sharply after president Donald Trump reiterated his opposition to Nippon Steel’s proposed $14 billion takeover of the company.
The President stated Wednesday night that he doesn’t want it sold to “Japan or any other place.”
General Motors Company (NYSE:GM) has been downgraded to ‘Neutral’ from ‘Buy’ by analysts at UBS, who also slashed their price target on the automaker to $51 from $64 to reflect the impact of tariffs on cost structure and auto demand.
For 2025, the analysts now assume General Motors’ North America volumes will decline 9% year-over-year, down another 4% in 2026.
Ocean Power Technologies Inc (NYSE-A:OPTT) announced that it has signed a reseller agreement with Grava Hydrographic Solutions, strengthening its US distribution network for its Wave Adaptive Modular Vessels (WAM-V) unmanned surface vehicles.
Grava Hydro, a US-based expert in hydrographic and oceanographic equipment integration, will now support the availability, sales, and servicing of OPT’s WAM-V platforms across the country.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced that it has signed a Letter of Intent (LOI) to sell up to 80% of its spin-out subsidiary Toggle3D.ai to TQG Technologies in a deal aimed at injecting new capital into Nextech3D.ai and advancing Toggle3D.ai’s next phase of growth under new leadership.
The non-binding agreement sets out a three-tranche transaction that will see TQG acquire an initial 11 million shares for C$610,000, with subsequent tranches dependent on TQG’s financing milestones.
CarMax Inc (NYSE:KMX) shares plummeted on Thursday after the used car sales platform’s fourth quarter profits disappointed.
For Q4, CarMax reported earnings per share (EPS) of $0.58, missing estimates of $0.66.