GAAP, or generally accepted accounting principles, are standardized guidelines established by the Financial Accounting Standards Board (FASB) and overseen by the U.S. Securities and Exchange Commission (SEC) to ensure uniformity and reliability in financial reporting, enhancing transparency and comparability for stakeholders, and are mandated for use by all public companies, with broader adoption across various sectors, providing a preferred framework for financial accountability and transparency.
Activist investor Ancora Holdings reiterates call for Norfolk Southern's CEO replacement following latest derailment in Pennsylvania, advocating for board reconstitution and transition to new management, amidst ongoing disputes with the company over safety concerns.
Spirit AeroSystems' (SPR) stock surged 10% as reports emerged of Boeing (BA) considering acquisition talks with the jet-fuselage supplier, while Boeing's shares declined 1.3%; Spirit also explores selling its Irish operations for Airbus (OTCPK:EADSF) parts, with Reuters reporting discussions of Airbus buying the A220 wings plant, though no immediate deal is expected, signaling potential shifts in the aerospace industry.
Shenandoah Telecommunications (SHEN) will sell its tower portfolio and operations to Vertical Bridge for $310.3 million in cash to fuel the expansion of its Glo Fiber business, expecting an initial closing in March 2024 and $10 million in 2024 income taxes due to the gain on the sale.
