Market Overview - U.S. stock futures showed mixed results, with Dow futures declining by 0.2% [1] Company-Specific Movements - Jefferson Capital Inc (NASDAQ:JCAP) experienced a significant drop of 4.4%, trading at $22.00, following the announcement of a secondary offering of 10 million shares [1] - MOBIX LABS, INC. (NASDAQ:MOBX) fell sharply by 25.4% to $0.24 due to plans for a common stock offering [2] - Datavault AI Inc (NASDAQ:DVLT) shares decreased by 12.4% to $1.26 after a previous surge of 43% on Monday, linked to a nationwide deployment announcement [2] - BitVentures Ltd – ADR (NASDAQ:BVC) saw a decline of 9.7% to $13.33 after a 5% gain on Monday [2] - Zenas Biopharma Inc (NASDAQ:ZBIO) tumbled by 6.6% to $15.50 following a 52% drop on Monday due to Phase 3 trial results [2] - Theravance Biopharma Inc (NASDAQ:TBPH) dipped 6% to $17.07 after a 3% decline on Friday [2] - Graphic Packaging Holding Co (NYSE:GPK) fell 4.9% to $14.70 ahead of its fourth quarter financial results announcement [2] - ATRenew Inc (NYSE:RERE) declined by 4.1% to $5.65 after a 9% gain on Monday [2] - Rezolve AI PLC (NASDAQ:RZLV) fell 3.7% to $3.07 in pre-market trading [2] - NovaBay Pharmaceuticals Inc (NYSE:NBY) slipped 3.4% to $6.52 after a 15% jump on Monday [2] - Starfighters Space Inc (NYSE:FJET) decreased by 3.3% to $9.08 after a 10% dip on Monday [2]

Core Viewpoint - Graphic Packaging Holding Company will announce its fourth quarter and full year 2025 financial results on February 3, 2026, before the market opens, followed by a conference call to discuss the results at 10:00 a.m. ET [1] Financial Results Announcement - The financial results for the fourth quarter and full year 2025 will be released on February 3, 2026 [1] - A conference call will be held at 10:00 a.m. ET on the same day to discuss the results [1] - The conference call will be accessible via webcast and telephone, with specific dial-in numbers provided [2] Future Financial Results - Graphic Packaging has tentatively scheduled the release of its first quarter 2026 financial results for May 5, 2026 [3] Company Overview - Graphic Packaging is a leader in sustainable consumer packaging, focusing on designs made primarily from renewable or recycled materials [4] - The company operates a global network of design and manufacturing facilities, serving well-known brands across various sectors including food, beverage, and household products [4]

Group 1 - Graphic Packaging Holding Company (NYSE:GPK) is considered one of the top cheap stocks under $20, with a Hold rating reaffirmed by Truist Financial and a price target set at $20 [1] - UBS analyst also reaffirmed a Hold rating on GPK, indicating a consensus view on the stock's current valuation [1] - The company announced plans to save approximately $60 million in staffing and other cost reductions by 2026, with expected one-time costs related to these initiatives around $20 million [2] Group 2 - GPK is taking additional actions to reduce inventory in fiscal Q4, including expediting inventory plans previously scheduled for 2026 [3] - The startup of the Waco, Texas, recycled paperboard manufacturing facility is ahead of schedule, contributing to the company's operational efficiency [3] - GPK provides paper-based packaging solutions across various sectors, including food, beverage, and consumer products, with operations divided into multiple business segments [4]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving Graphic Packaging Holding Company and its executives [1] Group 1: Company Performance - On December 8, 2025, Graphic Packaging announced a restructuring of its support functions and production optimization initiatives, leading to a lowered full-year core earnings and profit outlook due to ongoing production curtailments [3] - The company now expects Adjusted EBITDA to be in the range of $1.38 billion to $1.43 billion, a decrease from the previous guidance of $1.40 billion to $1.45 billion [3] Group 2: Market Reaction - Following the announcement of the lowered earnings outlook, Graphic Packaging's stock price fell by $1.35 per share, or 8.66%, closing at $14.23 per share on December 9, 2025 [4]

Core Viewpoint - GPK investors are presented with an opportunity to participate in a fraud investigation concerning Graphic Packaging Holding Company, led by the Schall Law Firm [1] Group 1 - The investigation is focused on potential fraudulent activities involving Graphic Packaging Holding Company [1] - The Schall Law Firm is actively seeking investors who may have been affected by the alleged fraud [1]

Core Viewpoint - Eminence Capital, LP is urging shareholders of Graphic Packaging Holding Company to demand the reinstatement of CEO Mike Doss, claiming the Board's justification for his replacement is misleading and inadequate [1][2]. Group 1: Board's Justification and Performance - The Board's letter on December 19, 2025, is criticized as a disingenuous attempt to legitimize a flawed leadership transition, with Eminence asserting that Mike Doss is being used as a scapegoat for the company's challenges [2][3]. - The Board acknowledged a nearly 50% decline in share price over the past year, attributing it to external factors, but Eminence argues that this decline is primarily due to industry oversupply rather than Doss's performance [4][5]. - Under Doss's leadership, GPK was reportedly well-positioned competitively, with strategic decisions leading to a forecast of over $2.25 in free cash flow per share in 2026, despite industry challenges [5]. Group 2: Critique of Robbert Rietbroek - Eminence highlights a pattern of Robbert Rietbroek leaving previous employers in worse conditions, questioning the Board's decision to appoint him as CEO [10][11]. - The Board's claims regarding Rietbroek's past successes at Quaker Foods and Primo Water are challenged, with evidence suggesting that volume and revenue did not grow during his tenure at Quaker [7][9]. - The Board's narrative regarding Rietbroek's leadership is described as misleading, as significant growth was attributed to a transformational acquisition rather than his management [9]. Group 3: Shareholder Sentiment and Board Accountability - Feedback from shareholders, former employees, and industry constituents indicates a consensus against the decision to replace Doss, with concerns about the Board's judgment [12]. - Eminence points out that the Board collectively owns less than 500,000 shares, raising questions about their commitment to the company's long-term success [13]. - The call for shareholders to demand Doss's reinstatement is framed as a necessary action to prevent long-term damage to GPK [14].

Core Viewpoint - Graphic Packaging Holding Company emphasizes its commitment to enhancing long-term value and is confident in its Vision 2030 strategy, which aims to improve free cash flow, optimize cost structure, and enhance operational efficiency [1]. Group 1: Company Strategy - The company is focused on capitalizing on growth opportunities while advancing innovation and sustainability for the benefit of customers, shareholders, and employees [1]. - The leadership transition to Robbert Rietbroek as Chief Executive Officer on January 1, 2026, is expected to accelerate the execution of value creation initiatives [1]. Group 2: Advisory and Legal Support - BofA Securities is serving as the financial advisor for Graphic Packaging, while Jones Day and DLA Piper (U.S.) LLP are providing legal counsel [2]. - Joele Frank, Wilkinson Brimmer Katcher is acting as the strategic communications advisor [2]. Group 3: Company Overview - Graphic Packaging designs and produces consumer packaging primarily from renewable or recycled materials, aiming to reduce the environmental footprint of consumer packaging [4]. - The company operates a global network of design and manufacturing facilities serving well-known brands in various sectors, including food, beverage, and household products [4].

Core Viewpoint - Eminence Capital criticizes the decision of Graphic Packaging Holding Company's Board to replace CEO Mike Doss with Robbert Reitbroek, labeling it as misguided and rushed, and calls for the reinstatement of Doss to protect shareholder value [1][3][6]. Group 1: Board Decision and Leadership Transition - The Board's decision to replace Mike Doss is viewed as a critical error, especially given the ongoing challenges in the company's operations and the need for experienced leadership [3][6]. - Robbert Reitbroek's previous CEO role ended in termination due to operational failures, raising concerns about his capability to lead GPK [2][9]. - Eminence Capital emphasizes the lack of a credible rationale for Doss's removal, suggesting that the Board's decision-making process was flawed and lacked proper diligence [8][9]. Group 2: Chairman's Influence and Governance Concerns - Chairman Phil Martens is criticized for his outsized influence over the Board and for actions that may jeopardize shareholder value, including a significant reduction in his shareholding [3][12][13]. - The recent departure of a respected CFO and the timing of Doss's ouster are seen as indicators of governance failure within the Board [11][12]. - Eminence Capital expresses concern over potential further senior management departures as a result of Martens's control over the Board [3][12]. Group 3: Shareholder Engagement and Future Actions - Eminence Capital urges other shareholders to voice their concerns regarding the Board's decisions and the potential destruction of shareholder value [3][16]. - The firm has submitted a demand to inspect the Board's records related to the CEO transition process, indicating a desire for transparency and accountability [3][16]. - Eminence Capital plans to initiate a public campaign if their demands for a meeting with the Board are not met, highlighting the urgency of their concerns [16][17].

Core Viewpoint - Graphic Packaging Holding Company (GPK) is undergoing significant restructuring efforts, including cost-cutting initiatives and inventory reduction, while facing a downward revision in its financial outlook for 2025 [2][6]. Financial Outlook - RBC Capital has adjusted its rating for GPK to "Sector Perform" and lowered its price target from $17 to $15, with the current stock price at $14.90 [1][6]. - GPK has revised its 2025 EBITDA and EPS outlook downward but maintains its net sales expectations, indicating confidence in revenue generation [2][6]. Cost-Cutting Initiatives - The company is targeting $60 million in savings by 2026 through staffing and other planned cost reductions, which will incur one-time costs of $20 million for severance [3][6]. - GPK is committed to providing employment placement assistance and support to affected employees, emphasizing responsible restructuring [3]. Market Performance - GPK's stock is currently priced at $14.90, reflecting an increase of approximately 4.67% with a change of $0.67, and has shown significant volatility over the past year [4]. - The stock has fluctuated between a low of $14.02 and a high of $15 today, with a yearly high of $29.90 and a low of $13.93 [4]. - GPK has a market capitalization of approximately $4.40 billion, with a trading volume of 5,976,534 shares on the NYSE, indicating active investor interest [5].

Key Takeaways GPK is pushing ahead with cost cuts and moving planned 2026 inventory reductions into late 2025.GPK expects $60M in 2026 savings but sees added severance and production impacts on the results.GPK lowered its 2025 EBITDA and EPS guidance while keeping net sales expectations unchanged.Graphic Packaging Holding Company (GPK) is moving forward with its support function and production optimization plans. GPK announced that it would take additional actions to reduce inventory in the fourth quarter o ...