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Mobile games developer Huuuge stock leaps on buyback plans

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Mobile games developer Huuuge stock leaps on buyback plans

Mobile games developer Huuuge Inc (HUGP.WA) plans to launch an up to $150 million share buyback this quarter following a review of strategic options, it said late on Wednesday, sending the stock sharply higher at the market opening.

US-registered Huuuge, which debuted in Warsaw in 2021, launched the review of strategic options in August and shortly afterwards suspended an earlier buyback.

It said could still postpone or cancel the new buyback depending on market conditions and the company’s circumstances. The stock jumped 8% by 0816 GMT on Thursday, hitting its highest price in over a year.

Huuuge said in a statement it had concluded its “optimal strategy at this time” was to remain a publicly-listed company and that continued focus on the current strategy was in the best interests of the company and its stock-holders.

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It added it was working on a plan to improve its overall performance and productivity “by flattening hierarchies, merging teams where appropriate and refocusing on agility”.

Piotr Bogusz from Erste Group wrote in a note to clients the absence of “an offer to purchase shares from an outside investor could be somewhat of a disappointment to the investors”.

But he said the market was likely to welcome the buyback and estimated a price per share in the range of 29-30 zlotys, implying a 22-26% premium to the last close.

Huuuge has yet to disclose price details of the buyback.

Last week, the maker of Huuuge Casino and Billionaire Casino games reported preliminary core profit up 28% to $82 million following lower marketing spend.

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China launches Shenzhou-16 mission to Chinese space station

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China launches Shenzhou-16 mission to Chinese space station

 China sent three astronauts to its now fully operational space station as part of crew rotation on Tuesday in the fifth manned mission to the Chinese space outpost since 2021, state media reported.

The spacecraft, Shenzhou-16, or “Divine Vessel”, and its three passengers lifted off atop a Long March-2F rocket from the Jiuquan Satellite Launch Centre in the Gobi Desert in northwest China at 9:31 a.m. (0131 GMT).

The astronauts on Shenzhou-16 will replace the three-member crew of the Shenzhou-15, who arrived at the space station late in November.

The station, comprising three modules, was completed at the end of last year after 11 crewed and uncrewed missions since April 2021, beginning with the launch of the first and biggest module – the station’s main living quarters.

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China has already announced plans to expand its permanently inhabited space outpost, with the next module slated to dock with the current T-shaped space station to create a cross-shaped structure.

Leading the Shenzhou-16 mission was Jing Haipeng, 56, a senior spacecraft pilot from China’s first batch of astronaut trainees in the late 1990s. He had travelled to space three times before, including two trips as mission commander.

Jing flew with Zhu Yangzhu and Gui Haichao, both 36 and part of China’s third batch of astronauts. The mission is Zhu’s and Gui’s first spaceflight.

Former military university professor Zhu will serve as spaceflight engineer while Gui, a professor at Beihang University, will serve as the payload specialist on the mission, managing science experiments at the space station.

Beijing is expected to launch one more crewed mission to the orbiting outpost this year.

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Also by the end of 2023, China is due to a launch space telescope the size of a large bus.

Known as Xuntian, or “Surveying the Heavens” in Chinese, the orbital telescope will boast a field of view 350 times wider than that of the Hubble Space Telescope, which was launched 33 years ago.

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WhatsApp rolling out archive feature for businesses on Android

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WhatsApp rolling out archive feature for businesses on Android

 WhatsApp is going to launch a new feature called “status archive” as a new business tool that will help people to share their previous status updates with their customers.

The feature is currently being rolled out to beta testers of WhatsApp Business for Android and will become available to more users in the coming weeks, a media outlet that closely monitors the updates in the messaging app said in its blog.

The users will receive a notification within the Status tab asking them if they want to enable the feature on their WhatsApp accounts.

When this feature is enabled, the status updates will automatically be sent into archives on the users’ device after 24 hours. In addition, people can manage their archive preferences and see it directly from the menu within the Status tab.

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The feature will help businesses to re-share the previous status in an easy way.

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NASA sets coverage for Axiom Mission 2 departure from space station

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NASA sets coverage for Axiom Mission 2 departure from space station

NASA will provide live coverage of the undocking and departure of Axiom Mission 2 (Ax-2) private astronaut mission from the International Space Station before crew returns to Earth.

The four-member multinational astronaut crew is scheduled to undock no earlier than 11:05 a.m. EDT Tuesday, May 30, from the space-facing port of the station’s Harmony module in a SpaceX Dragon spacecraft to begin the journey home and splashdown off the coast of Florida.

NASA will begin live coverage of space station joint operations with Axiom Space and SpaceX, starting with hatch closure preparations at 9 a.m. Tuesday, May 30, on NASA Television, the NASA app, and the agency’s website.

Mission teams will monitor weather at the possible splashdown sites prior to undocking to ensure conditions are acceptable for a safe recovery of the spacecraft and Ax-2 astronauts.

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Ax-2 Commander Peggy Whitson, Pilot John Shoffner, and Mission Specialists Ali Alqarni and Rayyanah Barnawi, both representing the Kingdom of Saudi Arabia, will complete approximately nine days in space at the conclusion of their mission. Their SpaceX Dragon will return to Earth with more than 300 pounds of cargo, including NASA hardware and data from over 20 different experiments.

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