Australia's Calix falls to 1-1/2-month low as unit scales back work on US project

Calix

06/06/2025 04:01

** Australian technology company Calix Ltd CXL.AX drops as much as 3.1% to A$0.315, its lowest point since April 22

** Co's unit Leilac is scaling back work on its projects in the U.S., pending outcome of ongoing reviews of government spending

** Programs under review include those providing funding for Heirloom's direct air capture project, Cypress project, and for two Leilac carbon capture and storage projects

** Adds Leilac will reduce its resourcing and costs to remain cash neutral

** Stock down ~58% this year, including the session's losses

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com;))