Gaotu Techedu Inc. (NYSE: GOTU) has released its unaudited financial results for the first quarter of 2023. The highlights of the report include a significant increase in income from operations and net income compared to the same period in 2022. 

Income from operations rose by 275.9% to RMB95.1 million, while net income increased by 112.1% to RMB113.9 million. The company attributes this improvement to enhanced operational efficiency, strong organizational capabilities, and a steadfast commitment to its long-term growth strategy. Gaotu Techedu anticipates achieving annual effective growth and generating positive net operating cashflow throughout 2023.

In pre-market, $GOTU is currently trading at $3.05, reflecting a positive change of $0.56 or 22.49%.

In other news, Stratasys Ltd. (Nasdaq: SSYS) has concluded that the partial tender offer made by Nano Dimension Ltd. (Nasdaq: NNDM) to acquire Stratasys shares at $18.00 per share in cash undervalues the company and is not in the best interests of its shareholders. 

Stratasys recently announced a definitive agreement to merge with Desktop Metal, Inc. (NYSE: DM) in an all-stock transaction. The merger, which has received unanimous approval from Stratasys board, aims to create a highly scalable additive manufacturing company that would be among the largest in the industry. The combined entity is projected to target $1.1 billion in revenue by 2025.

$SSYS is trading at $14.16 in pre-market, showing a slight increase of $0.08 or 0.57%.

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