Plby Group Inc Files For Offering Of Up To 25.5 Million Common Shares By The Selling Stockholders - Sec Filing

Consumer stocks were lower late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) falling 0.9% and the Consumer Discretionary Select Sector SPDR Fund (XLY) shedding 0.5%.

In corporate news, United Airlines denied rumors that it is in discussions with another airline regarding a merger, acquisition, or similar deal, according to a Friday regulatory filing. Its shares were down 3%.

Deckers Outdoors shares dropped 19% after it issued fiscal 2025 revenue guidance late Thursday below analysts' estimates.

Colgate-Palmolive's Q4 earnings came ahead of Wall Street's estimates, while revenue posted a decline amid weakness in North America and Latin America. Its shares fell 4.6%.

PLBY Group shares jumped nearly 20%. The company disclosed Friday a conversion of 25% of its outstanding series B convertible preferred stock into common stock to streamline its balance sheet and reduce leverage.

PLBY Group shares surged nearly 24% after the company disclosed Friday a conversion of 25% of its outstanding series B convertible preferred stock into common stock to streamline its balance sheet and reduce leverage.

More than 6.3 million shares traded intraday compared with a daily average of about 927,000.

Atlassian reported fiscal Q2 non-GAAP diluted earnings and revenue above market expectations.

Morgan Stanley boosted its price target on Atlassian's shares to $370 from $315 while keeping its overweight rating.

Shares jumped 16%, with intraday trading volume rising to over 5.2 million compared with a daily average of about 2.1 million.

SkyWest reported a jump in Q4 earnings and operating revenue late Thursday

Deutsche Bank adjusted SkyWest's price target to $145 from $130 while maintaining its buy rating.

Shares rose 5% as intraday trading volume climbed to more than 769,000 from a daily average of about 353,000.

By Dean Seal

Shares of PLBY Group rose to their highest level in more than a year after the company converted a quarter of its preferred shares to common stock.

The stock jumped 47% to a high of $2.44 in early trading. Shares haven't traded this high since February 2023 and hit a low of 44 cents in November of that year.

The producer of Playboy magazine said before the opening bell that it has converted 25% of its preferred stock into shares of common stock at a price of $1.85 apiece.

That marks a 23% premium to the price it struck in a stock sale with Byborg Enterprises in December.

The company didn't receive any proceeds in connection with the conversion.

Write to Dean Seal at dean.seal@wsj.com

Consumer shares were mixed in early morning trading Friday, with the Consumer Staples Select Sector SPDR Fund down 0.6% and the Consumer Discretionary Select Sector SPDR Fund 0.8% higher recently.

Vestis reported lower fiscal Q1 adjusted earnings and revenue and also said it has named Kelly Janzen its chief financial officer, starting Feb. 14. The company's shares fell more than 12%.

Oatly shares fell 7.3% after it said it will change the ratio of its American Depositary Receipts to ordinary shares from one ADR per one share to one ADR per 20 shares.

PLBY Group shares rose 32% after it said it has converted 25% of its outstanding Series B Convertible Preferred Stock into common stock to streamline its balance sheet and reduce leverage.

PLBY Group said Friday it has converted 25% of its outstanding Series B Convertible Preferred Stock into common stock to streamline its balance sheet and reduce leverage.

The company said it converted 7,000 shares of Series B Stock into 3.8 million shares of common stock at a conversion price of $1.85 per share, a 23% premium to the price per share in a securities purchase agreement entered into with Byborg Enterprises SA in December.

Following the conversion, the company said 21,000 Series B shares and 93.7 million common shares remain outstanding.

No proceeds were received from the conversion, the company added.