Gold prices steady ahead of Fed decision, Trump’s tariff deadline
After-hours movers:
Five Below (NASDAQ:FIVE) rose 5% after it reported solid fourth quarter results and guidance. Net sales increased by 4.0% to $1.39 billion from $1.34 billion in the fourth quarter of fiscal 2023 or an increase of 7.8% when excluding the impact of the 53rd week in fiscal 2023; comparable sales decreased by 3.0%.
ProAssurance (NYSE:PRA) rose 54% after The Doctors Company announced that they have entered into a definitive agreement under which ProAssurance will be acquired by The Doctors Company. Under the terms of the agreement, ProAssurance stockholders will receive $25.00 in cash per share, representing an approximately 60% premium to the closing price per share of ProAssurance common stock on March 18, 2025, the last trading day prior to today’s announcement, with a transaction value of approximately $1.3 billion.
Microchip Technology (NASDAQ:MCHP) fell 4% after it announced the launch of an underwritten public offering (the “offering”) of $1.35 billion of depositary shares (“depositary shares”), each representing a 1/20th interest in a share of newly issued Series A Mandatory Convertible Preferred Stock, par value $0.001 per share (“preferred stock”), of the Company.