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Part social gathering spaces part retail meccas malls were once the centerpiece of the suburban American experience Now faced with challenges from all sides most are barely hanging on Here s what happened to American malls | 0 |
Sam Bankman FriedCEO of cryptocurrency exchange FTX believes thatCoinbase Global Inc’sNASDAQCOIN actual revenue may be different from what is presented in its earnings report What HappenedIn a series of tweets Bankman Fried said that the cryptocurrencyexchange’s “real revenue” from transactions was likely closer to 650 million 6 You get a revenue of 650m and expenses of well a 150m of marketingb 600m of dev payrollc 500m of other payrolld 100m of other e 400m of balance sheet asset price decline for a total of 650m rev 14b core expenses plus 400m impairment— SBF SBFFTX August 9 2022 “That leads to a loss of roughly 700m plus another 400m from impairment” he said “My guess is the vast majority of the expenses are coming from payrollbonusesetc here” After accounting for stock based compensation paid to the exchange’s 5000 plus employees the FTX chief estimated that Coinbase’s real net revenue was around 25 billion while expenses from employee compensation and other areas were a cumulative 55 billion 7 I think this include stock based comp So roughly speaking annualized Q2 would imply a 25b of real net revenue 90 mobile app trading feesb 44b of employee compc 1b of other expenses on net losing roughly 3byear including stock based comp— SBF SBFFTX August 9 2022 “It ll be interesting to see the impact of their recent headcount changes on upcoming earnings” wrote Bankman Fried who estimates that the company is losing around 3 billion a year He also pointed to macro sentiment that could potentially swing in Coinbase’s favour in the months to come “Remember Coinbase is more sentiment dependent than FTX Large upside in a recovery” he said Coinbase shares fell 1055 on Tuesday after itreported revenueof 8026 million missing the Street estimate of 8305 million The stock was trading 545 lower after hours Meanwhile the crypto market saw a 377 decline to 108 trillion over the last 24 hours At press timeBitcoinCRYPTO BTC was trading at 22895 down 35 andEthereumCRYPTO ETH was trading at 1682 down 48 as per data fromBenzinga Pro Photo courtesy Cointelegraph on Wikimedia | 0 |
Trulieve Cannabis Corp OTCQXTCNNF CSETRUL announced the Georgia Access to Medical Cannabis Commission awarded Trulieve GA Inc with a class 1 production license Trulieve patients in Georgia will be able to choose from a variety of low THC oil products in both oral and topical forms in the near future Trulieve is thrilled to receive a Georgia cannabis production license and we appreciate the commission s diligence throughout the selection process stated Kim Rivers CEO of Trulieve We look forward to educating the Georgia market on the numerous health and wellness benefits of cannabis as well as providing patients statewide access to the medical cannabis they have been seeking Trulieve will have an initial allocation of five medical cannabis dispensaries in Georgia and will seek to open additional dispensaries in the state as the patient population grows Trulieve is building an indoor cultivation facility in Adel Ga to produce low THC oil products The Adel site will also house a processing facility as part of the company s vertically integrated seed to sale model The Georgia team is hard at work to begin operations as soon as possible to ensure those in need have access to Trulieve s line of products stated Lisa Pinkney president of Trulieve Georgia We re also excited to share that Trulieve s operation and its ancillary business partners are projected to create a wide range of jobs in the state as the business grows Trulieve is committed to investing in the communities where it operates and its supplier diversity program will provide opportunities for diverse businesses in Adel and throughout Georgia both during construction and after operations begin Photo Courtesy of Trulieve Cannabis Corp Related News Maryland Marijuana Legalization Expungement New Poll Shows Voters Want Both Intend To Say So In November EXCLUSIVE Trulieve CEO Kim Rivers Calls To Action On Cannabis Reform Worsening Trends In Cannabis Retail Are Here Can The Downtrend Reverse | 0 |
US stock futures traded higher this morning ahead of the PPI data for August Here are some big stocks recording gains in today’s pre market trading session MAG Silver Corp NYSEMAG rose 85 to 1378 in pre market trading after declining around 6 on Tuesday The company last month posted a rise in quarterly earnings MiMedx Group Inc NASDAQMDXG gained 55 to 365 in pre market trading MiMedx Group recently said that EPIFIX received reimbursement approval in Japan Nikola Corporation NASDAQNKLA rose 54 to 530 in pre market trading BTIG upgraded Nikola from Neutral to Buy and announced a price target of 12 Catalyst Pharmaceuticals Inc NASDAQCPRX gained 52 to 1609 in pre market trading Catalyst Pharmaceuticals will replace Mantech International in the SP SmallCap 600 effective prior to the opening of trading on Thursday September 15 VNET Group Inc NASDAQVNET gained 5 to 594 in pre market trading VNET shares jumped over 20 on Tuesday after the company announced the receipt of a preliminary non binding proposal to acquire all of its shares and formation of a special committee to review the proposal IVERIC bio Inc NASDAQISEE rose 44 to 1899 in pre market trading Bed Bath Beyond Inc NASDAQBBBY rose 23 to 856 in pre market trading Bed Bath Beyond’s interim Chief Executive Officer CEO Sue Gove is likely to stay in the job for at least twelve months Reuters reported Also check this out US Stock Futures Rise After Recording Worst Sell Off Since June 2020 PPI Data In Focus | 0 |
Someone with a lot of money to spend has taken a bearish stance on Freeport McMoRan NYSEFCX And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with FCX it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 11 uncommon options trades for Freeport McMoRan This isn t normal The overall sentiment of these big money traders is split between 27 bullish and 72 bearish Out of all of the special options we uncovered 6 are puts for a total amount of 348756 and 5 are calls for a total amount of 1149464 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 300 to 420 for Freeport McMoRan over the last 3 months Volume Open Interest Development In terms of liquidity and interest the mean open interest for Freeport McMoRan options trades today is 518333 with a total volume of 985400 In the following chart we are able to follow the development of volume and open interest of call and put options for Freeport McMoRan s big money trades within a strike price range of 300 to 420 over the last 30 days Freeport McMoRan Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume FCX CALL SWEEP NEUTRAL 051923 4200 7387K 54K 58K FCX CALL SWEEP BEARISH 011924 4200 1910K 82K 440 FCX CALL SWEEP NEUTRAL 032423 3000 1452K 203 200 FCX PUT SWEEP BULLISH 081823 4000 1200K 118K 200 FCX PUT SWEEP NEUTRAL 061623 4000 990K 59K 202 Where Is Freeport McMoRan Standing Right Now With a volume of 2386786 the price of FCX is up 312 at 3736 RSI indicators hint that the underlying stock may be approaching oversold Next earnings are expected to be released in 31 days What The Experts Say On Freeport McMoRan Scotiabank upgraded its action to Sector Outperform with a price target of 50 UBS has decided to maintain their Neutral rating on Freeport McMoRan which currently sits at a price target of 41 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Freeport McMoRan Benzinga Pro gives you real time options trades alerts | 0 |
US stocks ended higher Tuesday booking back to back gains as investors digested earnings results from companies including Goldman Sachs Group Inc The Dow Jones Industrial Average DJIA closed 11 higher while the SP 500 SPX gained around 12 and the Nasdaq Composite rose 09 according to preliminary data from FactSet Goldman GS was among the Dow s best performers with a gain of more than 2 FactSet data show Shares of the Wall Street bank rallied after topping its third quarter earnings target and confirming a reorganization plan | 0 |
US stocks traded lower toward the end of trading with the Dow Jones dropping around 300 points on Friday The Dow traded down 093 to 3291216 while the NASDAQ fell 112 to 1036089 The SP 500 also fell dropping 110 to 380689 Check This Out 5 Most Cheap Real Estate Stocks You Should Think About Leading and Lagging Sectors Energy shares gained by 05 on Friday Meanwhile top gainers in the sector included Ecopetrol SA NYSEEC up 6 and Calumet Specialty Products Partners LP NASDAQCLMT up 5 In trading on Friday materials shares fell 1 Top Headline The Chicago PMI rose to 449 points in December from 3720 points in the prior month which was the weakest reading since June 2020 Equities Trading UP Palisade Bio Inc NASDAQPALI shares shot up 108 to 670 Palisade Bio announced 25 million registered direct offering and concurrent private placement priced above market under Nasdaq rules Shares of Sesen Bio Inc NASDAQSESN got a boost shooting 20 to 06015 after the company and Carisma Therapeutics announced an increased special dividend of 70 million or 034 per share in connection with the pending merger Dermata Therapeutics Inc NASDAQDRMA shares were also up gaining 97 to 03934 after the company requested to withdraw its registration on Form S 1 and said it does not intend to pursue the contemplated public offering Equities Trading DOWN UP Fintech Holding Limited NASDAQTIGR shares tumbled 28 to 342 after the China Securities Regulatory Commission reported the companies have conducted illegal securities business Shares of Futu Holdings Limited NASDAQFUTU were down 31 to 4093 Tencent Holding backed Chinese online broker Futu Holdings unexpectedly deferred its Hong Kong listing less than a day before its anticipated debut on December 30 Hoth Therapeutics Inc NASDAQHOTH was down falling 26 to 791 after the company announced a 10 million private placement priced at the market under Nasdaq rules Also Check This Out Top 5 Financial Stocks That May Collapse Commodities In commodity news oil traded up 1 to 7916 while gold traded up 01 at 182710 Silver traded down 08 to 2405 on Friday while copper fell 03 to 38120 Euro zone European shares closed lower today The eurozone’s STOXX 600 fell 127 London’s FTSE 100 dropped 081 while Spain’s IBEX 35 Index fell 107 The German DAX dropped 105 French CAC 40 fell 152 and Italy’s FTSE MIB Index fell 145 Spanish current account surplus narrowed to EUR 27 billion in October from EUR 35 billion in the year ago month The annual inflation rate in Spain eased to 58 in December from 68 a month ago The Nationwide House Price Index in the UK rose by 28 year over year in December Asia Pacific Markets Asian markets closed higher on Friday with the Japan’s Nikkei rising 001 Hong Kong’s Hang Seng Index gained 020 while China’s Shanghai Composite Index gained 051 India s fiscal deficit increased to INR 978 trillion in April November compared to INR 696 trillion in the year ago period Chinese current account surplus widened to 1443 billion in the third quarter versus 826 billion surplus in the year ago period Economics The Chicago PMI rose to 449 points in December from 3720 points in the prior month which was the weakest reading since June 2020 Now Read This Dow Surges Over 300 Points Market Volatility Decreasess COVID 19 Update The US has the highest number of coronavirus cases and deaths in the world reporting a total of 102477920 cases with around 1117750 deaths India confirmed a total of at least 44679260 cases and 530690 deaths while France reported over 39270370 COVID 19 cases with 161840 deaths In total there were at least 664190060 cases of COVID 19 worldwide with more than 6694450 deaths | 0 |
BENGALURU Nov 29 Reuters Indian stocks were on Tuesday set to ease from all time highs hit in the previous session following an overnight slide in Wall Street on worries about China s COVID 19 management and as oil prices pared losses India s NSE stock futures listed on the Singapore exchange were down 034 at 1866750 as of 0730 IST Wall Street equities fell overnight on Monday on COVID protests in China and ahead of commentary from Federal Reserve for any clues on its future rate hiking path Asian markets recovered from a weak start on Tuesday with the MSCI Asia ex Japan index MIAPJ0000PUS rising 096 Meanwhile global oil benchmarks erased some losses after sliding to their lowest levels in nearly a year on Monday aided by speculation that OPEC could cut production due to weakness in demand in China the world s biggest crude oil importer US crude rose 13 to 7724 per barrel while Brent crude trimmed losses to close above 83 per barrel On Monday the NSE Nifty 50 index NSEI rose 027 to settle at 1856275 and the SP BSE Sensex BSESN climbed 034 to end at 6250480 with both notching closing highs for the third straight session Foreign institutional investors bought net of 936 billion rupees 11465 million equities on Monday while domestic investors purchased 8793 million rupees 1066 million worth of shares as per provisional NSE data NDTV NDTVNS NDTV said an entity backed by its founders had issued shares to a unit of Adani Group read more Can Fin Homes CNFHNS Company declared an interim dividend of 150 rupees per share Lupin LUPNNS Company s Brazilian unit acquired rights to nine brands from Bausch Health NBCC NBCCNS Company secured work orders worth 272 billion rupees in two projects in Amrapalli group Reporting by Bharath Rajeswaran in Bengaluru Editing by Dhanya Ann Thoppil | 0 |
A recent Twitter poll by Michael Saylor executive chairman of MicroStrategy Inc NASDAQMSTR has shown that a majority of voters in the United States want presidential candidates to support their right to use Bitcoin CRYPTO BTC What Happened According to a Saturday Twitter poll conducted by Saylor an overwhelming 838 of voters responded “Yes” when asked whether they believe a presidential candidate must support their right to Bitcoin to secure their vote At the time of writing the poll garnered nearly 31000 responses in total with only 162 of respondents voting in the negative Will you require any presidential candidate to support your right to Bitcoin before they can earn your vote— Michael Saylor⚡️ saylor May 27 2023 See More A Stay At The Floating Palace From James Bond s ‘Octopussy’ Why It Matters This poll highlights the growing importance of cryptocurrency issues in political discourse Recently Republican presidential candidate Ron DeSantis criticized President Joe Biden’s approach towards Bitcoin during a Twitter Space discussion with Tesla CEO Elon Musk DeSantis said that Bitcoin will die if Biden is reelected The current regime clearly they have it out for Bitcoin And if it continues for another four years they ll probably end up killing it he warned Just a few days ago at the Bitcoin Conference in Miami Florida Robert Kennedy Jr emphasized the need to defend BTC against what he called invasive surveillance He expressed his belief that Bitcoin is necessary for defending privacy and maintaining freedom Earlier this week former Coinbase CTO Balaji Srinivasan said that Bitcoin will play a significant role in the 2024 presidential elections much as Twitter and Facebook did in past campaigns Price Action At the time of writing Bitcoin was trading at 28125 up 383 in the last 24 hours according to Benzinga Pro Read Next Bitcoin Flirts With 28K Ethereum Dogecoin Rise Too On Debt Ceiling Deal Analyst Known For Calling Bottom Sees Apex Crypto At 29K But There’s A Catch | 0 |
Kal Penn known for his roles in the Harold Kumar film series and the TV show House as well as his work in the Obama administration recently took on the role of guest host on Comedy Central s The Daily Show During one of the episodes where Penn discussed some of the latest news including President Biden s approval of an Alaskan drilling project he also lookied into the President s surprising policy shift on marijuana convictions Penn praised Biden for flipflopping in a good way celebrating the president s change of heart when it comes to marijuana policy Having once considered the substance a gateway to harder drugs Biden is now offering presidential pardons to those with federal convictions for simple marijuana possession This policy change applies to individuals who were charged or convicted in federal court or DC Superior Court before October 6 of the previous year Celebrating this huge and long overdue development Penn took a moment to give special congrats to advocates who have long pushed for this change in policy He humorously pointed out the difficulty of convincing someone with five decades of experience in Washington to change their mind comparing it to the challenges of getting Mitch McConnell to let Democrats appoint judges or persuading Chuck Schumer to wear his glasses on the top of his nose Penn then playfully debunked stereotypes about marijuana users joking about the Oval Office s resemblance to a stoner s lair Kal Penn s entertaining take on recent news including Biden s evolving views on marijuana policy made for a memorable episode of The Daily Show that both informed and amused viewers With his unique background in both Hollywood and politics Penn brought a fresh perspective to the show s signature blend of humor and commentary Check out the segment below | 0 |
MRC Global IncNYSEMRC has proposed to amend extend and refinance in full its 295 million in outstanding principal amount under its existing senior secured Term Loan Bscheduled to mature in September 2024 The company seeks to extend the credit agreement for an additional five years and increase the amount from 295 million to 300 million Preliminary Q1 ResultsMRC expects Q1 FY23 revenue of about 885 million above the consensus of 84867 million The company foresees gross profit of approximately 179 million or 202 of sales The company sees Adjusted EBITDA of 69 million MRC continues to expect FY23 cash flow from operations of at least 120 million The company will release its full first quarter 2023 results on May 8 2023 after the market close Price Action MRC shares are trading higher by 671 at 1002 on the last check Monday | 0 |
Fifth generation agriculturalist William Terry and entrepreneur Stephen Walden unveileda new operation onMonday which isfocused on bringing best in class farming practices to California s sun grown cannabis Rooted in verdant Santa Barbara county Farming First Holdings LLC has established 134 acres of rolling outdoor cultivation possessing entitlements for what should become the largest contiguous outdoor cultivation operation in California Farming First offers a variety of products and services to the cannabis industry single source bulk wholesale flower white labeling co packagingand custom farming contracts for specific needs including dried and cured flower fresh frozenand unique phenotypical and cannabinoid specific strains All of Farming First’s cannabis plants are sustainably sun grown under hoop houses focusing on rich terpene profiles expressed through the Company’s hybrid farming methodology “Farming First isn’t just our name—it’s our mission” stated co founder and CEO WilliamTerry “My family has farmed California’s Central Coast region for more than 125 years giving me immense respect for the land and surrounding community Along with Walden and the other founders we’ve assembled an incredible team that brings together unrivaled cultivation know how and modern innovation including agricultural experts legacy cannabis farmers lifelong entrepreneurs and visionary designers and engineers” Leadership Farming First’s recently appointed an executive leadership team that includes William Terry co founder and CEO whohas served on a variety of boards including as president of the Ventura County Farm Bureau the University of California s Hansen Fund California Pepper Commission and others He also serves as vice president of Terry Farms a 2000 acre specialty crop operation Stephen Walden co founder and COO who alsoco foundedFarming First andfounded Bosse Tools revolutionizing hardware tools with ergonomic design that he patented and later licensed He also launched a lifestyle cannabis brand in 2018 Scott Wilson chief branding officer Wilson is the former chief experience officer at Cresco Labs responsible for creating the industry leading MSO’s House of Brands He is the founder and principal designer of the product development brand strategy and business innovation firm MNML creating billions of dollars of commercial success for brands including Nike Nespresso Theragun Bang Olufsen Google Meta and Xbox Wilson received the prestigious Smithsonian Cooper Hewitt National Design Award an honor bestowed by the White House on the nation’s top designer each year Thomas Salzillo chief finance officer isaSouthern California native with a background in accounting Salzillo’s demonstrable influence and financial prowess in the cannabis industry wererecognized with the designation of 2019 CPA of the Year by the California Cannabis Awards Mario de la Piedra vice president of operationsBorn and raised in Ventura County de la Piedrahas been involved in all aspects of agriculture including farming political advocacy and most recently the founding of an agribusiness insurance company He currently serves as an advisor to Seso an agtech labor marketplace The company has raised over 35M in private funding since its inception with plans to expand the farm’s scale and yield Photo Courtesy of Farming First | 0 |
Donald Trump told Newsmax’s “Greg Kelly Reports” in a recent interviewthat marijuana does “significant damage” although he recognized that legalizing cannabis is a “pretty popular thing” among voters Greg Kelly who seemed slightly irked about thearoma of cannabis in the NY subway system pushed Trump on whether he thoughtcannabis legalizationcould ultimatelybe detrimental to the country’s competitiveness and psyche “I mean you see the same studies It’s not helping people I mean studies are saying that it does damage It does significant damage—and yet from a voting standpoint it’s a pretty popular thing” Trump replied Marijuana Moment first reported this story “Canada has gone all that way with legalization and other countries have gone all that way Some countries won’t do it But I am going to take a look at some final results But indications are that is not exactly helpful” Trumpsaid Mass Shootings Blame Them On The Gays And Weed Trump recently shocked advocates and a large swath of rational individuals when he told a meeting at the National Rifle Association that the uptick inmass shootingswas “not a gun problem but rather that genetically engineered cannabis and the trans community could be at fault and should thereforebe investigated This is a mental health problem This is a social problem This is a cultural problem This is a spiritual problem” said Trump who is not known for in depth knowledge of spiritual issues Trumphas called for the death penalty for drug dealers on various occasions the most recent of which was at aMAGA rally in Pennsylvaniathis past fall Hot Under The Collar After Mar A Lago Raid Followingthe August FBI raid ofMar a Lago raid Trump lashed out at then Senate candidate from PA SenJohn Fetterman D the FBI the Department of Justice and President Biden all ofwhom provoked the former president to release a statement about his take on drugs and those who deal themUnder Democrat control the streets of our great cities are drenched in the blood of innocent victims adding that drug dealers are responsible for killing hundreds of people every year | 0 |
US stock indexes were poised to extend gains on hopes that slowing inflation will encourage the Federal Reserve to back off its campaign of aggressive interest rate increases Futures for the benchmark SP 500 rose 04 Friday a day after softer inflation data sent the benchmark index to its biggest one day rise since April 2020 when stocks were recovering from the Covid 19 shock Contracts tied to the Dow Jones Industrial Average added 03 and Nasdaq 100 futures added 05 signaling a continued rally in technology stocks | 0 |
The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies The RSI is a momentum indicator which compares a stock s strength on days when prices go up to its strength on days when prices go down When compared to a stock s price action it can give traders a better sense of how a stock may perform in the short term An asset is typically considered oversold when the RSI is below 30 Here’s the latest list of major oversold players in this sector having an RSI near or below 30 CVB Financial Corp NASDAQCVBF CVB Financial posted doenbeat quarterly earnings David Brager President and Chief Executive Officer of Citizens Business Bank commented “We are pleased with our record results in 2022 and remain committed to the mission and vision of Citizens Business Bank The fourth quarter and full year of 2022 represented record quarterly and annual earnings for the Bank and we ended the fourth quarter with a return on average assets of 160 and a return on tangible common equity of 2365” The company’s stock has a 52 week low of 2026 RSI Value 2964 CVBF Price Action Shares of CVB Financial gained 08 to close at 2161 on Friday Renasant Corporation NASDAQRNST Renasant posted upbeat quarterly earnings “We are pleased to report a solid fourth quarter with quarterly earnings growing over the prior year” said C Mitchell Waycaster Renasant President and Chief Executive Officer The company’s stock has a 52 week low of 2761 RSI Value 2665 RNST Price Action Shares of Renasant rose 14 to close at 3205 on Friday Independent Bank Group Inc NASDAQIBTX Independent Bank Group reported worse than expected Q4 EPS results Our full year 2022 results illustrate the ability of our business model to deliver healthy loan growth sustainable earnings and resilient credit quality throughout the economic cycle said Independent Bank Group Chairman CEO David R Brooks The company’s stock has a 52 week low of 4955 RSI Value 2656 IBTX Price Action Shares of Independent Bank Group rose 12 to close at 5296 on Friday Wells Fargo Company NYSEWFC Wells Fargo reported a Q4 net income of 285 billion down 53 YY and 20 sequentially driven partly by lower mortgage banking The company’s 52 week low is 3654 RSI Value 2818 WFC Price Action Shares of Wells Fargo rose 06 to close at 4136 on Friday Trustmark Corporation NASDAQTRMK Trustmark posted upbeat quarterly earnings Duane A Dewey President and CEO commented We made significant progress across the organization during the year Loan growth in 2022 was the highest in Trustmark’s history Credit quality remained strong The company has a 52 week low of 2551 RSI Value 2453 TRMK Price Action Shares of Trustmark rose 08 to close at 2672 on Friday Read More Insiders Selling Perrigo And 3 Other Stocks | 0 |
The numbers The SP CoreLogic Case Shiller 20 city price index posted a 202 year over year gain in February up markedly from 189 the previous month On a monthly basis the index increased 24 between January and February Meanwhile the Case Shiller national home price index increased 198 between February 2021 and February up from the previous month This represented the third largest pace of home price appreciation in the Case Shiller report’s history A separate report from the Federal Housing Finance Agency matched the home price growth the Case Shiller indices recorded The FHFA Housing Price Index found that prices rose 194 year over year in February and 21 from the previous month “House prices rose to set a new historical record in February” Will Doerner supervisory economist in the FHFA’s division of research and statistics said in the report “Acceleration approached twice the monthly rate as seen a year ago Housing prices continue to rise owing in part to supply constraints” Key details As in previous months Phoenix recorded the highest rate of home price growth in the country in February according to the Case Shiller report with a 329 year over year increase Two Florida cities closely followed Tampa with a 326 gain and Miami with a 297 rise All 20 cities that the Case Shiller report tracks not only recorded double digit price growth in February but a faster pace of growth than the month prior The big picture The lagged nature of both these home price reports belies the state of the housing market currently Home sale and mortgage application data suggest that consumer demand is being impacted by the rapid rise in mortgage rates Given that the intensity of competition in the housing market is what’s largely responsible for the historical pace of home price growth economists expect the situation to change soon “The macroeconomic environment is evolving rapidly and may not support extraordinary home price growth for much longer” Craig J Lazzara managing director at SP DJI said in the Case Shiller report citing the Federal Reserve’s response to high inflation He noted that the impact of surging mortgage rates has yet to be reflected in the home price data but could come soon Looking ahead “It will take time for surging mortgage rates to rebalance the market and douse the price flames” Sal Guatieri senior economist at BMO Capital Markets said in a research note “With diminished buying power and mortgage rates pushing above 5 in recent weeks home price growth is likely to take a step back in coming months” said Selma Hepp deputy chief economist at CoreLogic “We expect price increases to slow markedly over the course of this year as sales volumes fall” said Ian Shepherdson chief economist at Pantheon Macroeconomics in a research note | 0 |
Lanvin Group—controlled by Chinese billionaire Guo Guangchang’s Fosun International—has agreed to merge with blank check company Primavera Capital Acquisition Corp PCAC in a transaction valuing the combined entity at 19 billion The merger with PCAC—a special purpose acquisition company backed by China based global investment firm Primavera Capital Group—will pave the way for the New York listing of Lanvin Group owner of the French fashion house bought by Fosun in 2018 Under the deal which values Lanvin Group at 15 billion the combined entity will raise 544 million from the New York initial public offering “We plan to accelerate the growth of our portfolio via both organic development and disciplined acquisitions building a global portfolio of iconic luxury fashion brands that appeal to a broad customer base” Lanvin Group chairman and CEO Joann Cheng said in a statement on Wednesday “Lanvin Group will not only enable these brands to flourish in their home countries but also in Asia and North America the largest luxury markets in the world” The Lanvin brand traces its roots to France’s oldest fashion house which was founded by French fashion designer Jeanne Lanvin in 1889 The group is currently headquartered in Shanghai where its parent Fosun is also based It owns and manages Lanvin and other iconic brands such as Italian shoemaker Sergio Rossi Australian lingerie brand Wolford American womenswear St John Knits and Italian menswear brand Caruso “We have been looking to support an emerging leader in the consumer sector with enduring global appeal and significant growth prospects in Asia” Max Chen chairman and CEO of Primavera said in a statement “In Lanvin Group we see a unique global business with a rich heritage an entrepreneurial management team and a differentiated strategy to build a luxury powerhouse for a new generation of consumers especially benefiting from surging luxury consumption in Asia” PCAC will inject 414 million cash into the combined entity as part of the IPO proceeds while Fosun and other investors including Japan’s Itochu Corp will contribute 130 million The proceeds will be used to accelerate Lanvin’s growth and fund future acquisitions Lanvin said With the global luxury foods market expected to reach 430 billion by 2025 Lanvin said it’s well positioned to capture growth opportunities The group’s global revenue more than doubled in 2021 driven by strong demand from Greater China North America as well as e commerce sales Lanvin’s Hong Kong listed parent has been building international brands including Club Med Apart from tourism Fosun has interests in mining pharmaceuticals and steelmaking It was cofounded in 1992 by Guo and three classmates from Shanghai s Fudan University Liang Xinjun Wang Qunbin and Fan Wei Today only Guo and Wang are still with Fosun Liang resigned from the company in 2017 and Fan stepped down in 2015 | 0 |
23 million California taxpayers are set to get the inflation relief money this fall Read More The world was already unhappier and more stressed than ever then war and inflation hit Gallup’s global Negative Experience Index hit an all time high last year as the COVID 19 pandemic persisted Read More Elmo gets the COVID vaccine and says ‘there was a little pinch but it was OK’ A Sesame Street PSA in partnership with the CDC and American Academy of Pediatrics says getting young kids vaccinated is ‘best way’ to keep everyone healthy Read More Inflation has hit women hard ‘There is a clear link between people experiencing financial stress and having poor mental health’ Women’s participation in the labor force dropped early in the pandemic and still hasn’t returned to pre pandemic levels Read More ‘He got a chunk of money when he divorced’ My boyfriend had problems paying rent before I moved in I’m afraid I’ll end up paying the bills Am I cheap ‘I am not sure what I should do to feel comfortable with his financial issues I would like to have some peace of mind’ Read More These cars are cute and cheap and no one else has them—how you can get one Need a car Use the 25 year rule to get one of these quirky small imported cars— you can have fun driving one for a few years and perhaps even sell it at a profit Read More The lessons I learned the first time I charged an EV in public Still there often is a learning curve when trying something new with your own hands in the real world Read More Can you afford a road trip this summer Here’s how to do it and save money If you’re still itching to drive to your vacation destination this summer we’ll show you how to do it without going broke Read More These business majors have the highest ‘return on investment’ with college graduates earning up to 165000 a year Analysis from Georgetown University shows the importance of major choice in college and what profession you choose post graduation Read More ‘This is what I believe and what I stand for’ Financial advisers consider dumping clients who spout offensive political views Americans’ deep political divide is affecting financial adviser client relationships Read More | 0 |
We re buying 25 shares of Johnson Johnson JNJ at roughly 15355 each Following Tuesday s trade Jim Cramer s Charitable Trust will own 625 shares of J J increasing its weighting in the portfolio to about 37 from 355 After keeping our powder dry since the end of February we re making one small buy into weakness Tuesday We chose Johnson Johnson Stocks turned lower as bond yields moved higher after Federal Reserve Chairman Jerome Powell s prepared remarks for Tuesday morning s Senate Banking Committee hearing were released One of his key points was an acknowledgment of the recent stronger than expected economic data and how it suggests interest rates will need to be raised to a higher level than expected Powell went on to mention that policy decisions will be made on a meeting by meeting basis We like this because the Fed must remain data dependent But he noted that the Fed is prepared to increase the pace of rate hikes if the data were to deem it necessary The market s interpretation of this point is that the Fed will have no problem raising rates by 50 basis points if necessary at its March meeting after previously downshifting to 25 basis points in February In total the market digested Powell s comments and as a result increased the probability of a 50 basis point rate hike at the March 21 22 meeting The probability of a 50 basis point hike increased to 54 from 31 Monday according to the CME FedWatch Tool Powell s comments are in line with what we already know A lot of the data has been too strong lately especially the January nonfarm payroll report which saw jobs increase by 517000 compared to estimates of 187000 Average hourly earnings in January increased 03 and 44 from a year ago We will know Friday how much of this labor market strength persisted into February when we get fresh jobs data But as of now it looks like the month was not expected to be nearly as hot as January Current estimates indicate a 224000 increase in jobs with average hourly earnings rising 03 month over month and 47 year over year Perhaps still too hot but not as hot Powell s comments have sent the market lower Tuesday bringing down prices of quality companies with growth potential even in an uncertain macro environment When quality goes on sale we want to buy JNJ YTD mountain Johnson Johnson JNJ YTD performance Johnson Johnson has had its struggles this year due to an overhang related to talc litigation It also hasn t helped that defensive stocks that outperformed in 2022 s bear market have become a source of funds to investors this year buying beaten down technology stocks and companies with more cyclicality We can t predict how long J J will be out of favor but we re willing to be patient because it has earnings growth a pristine balance sheet and an almost 3 annual dividend yield We also like this health care giant for its breakup catalyst Later this year J J will separate its consumer health business which will be called Kenvue from its pharma and medtech business which will keep the Johnson Johnson name We re fans of the separation because it will allow the new management teams to better align capital allocation decisions with the goals of each company For example J J should be able to allocate more resources to research and development R D while Kenvue can look for more bolt on acquisitions to boost growth Kenvue will be the new home for household names like Band Aid and Tylenol among many others Jim Cramer s Charitable Trust is long JNJ See here for a full list of the stocks As a subscriber to the CNBC Investing Club with Jim Cramer you will receive a trade alert before Jim makes a trade Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust s portfolio If Jim has talked about a stock on CNBC TV he waits 72 hours after issuing the trade alert before executing the trade THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY TOGETHER WITH OUR DISCLAIMER NO FIDUCIARY OBLIGATION OR DUTY EXISTS OR IS CREATED BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED | 0 |
The Federal Reserve delivered what is being described as a hawkish rate increase roiling financial markets where some investors had been anticipating a signal that much of the battle against inflation has been waged Stocks quickly erased gains and short term yields spiked with the dollar after the Fed raised rates by three quarters of a percentage point and officials indicated they anticipate additional increases totaling more than 1 percentage point by the end of this year | 0 |
“Shark Tank” investorKevin O’Learyallegedon Wednesday that Binance CRYPTO BNB is a massive unregulated global monopoly and the company’s CEO Changpeng CZ Zhao “intentionally” put crypto exchange FTX CRYPTO FTT out of business O’Leary was testifying at the US Senate hearing The Senate Banking Committee was on its second day of hearings on the collapse of FTXlooking at how the implosion of the company might affect the nascent industry SenPatrick Joseph Toomey Jrquestioned O Leary about what he thought led to FTX s decline during evidence at the Senate hearing “I have an opinion I don’t have the records said O Leary These two behemoths that own the unregulated market together and released incredible businesses in terms of growth were at war with each other And the one put the other one out of business intentionally” Also ReadWhite House Press Secretary Dodges Question On Whether Biden Will Return 52M In Donations From Sam Bankman Fried In his testimony before the House Financial Services Committee on Tuesday FTX s new CEO John J RayIII charged former executives including the company s co founder and former CEO Sam Bankman Fried with embezzling money from customers “This is really just old fashioned embezzlement This is just taking money from customers and using it for your own purpose Not sophisticated at all” Ray said in his testimony before the House Financial Services Committee “Sophisticated perhaps in the way they are hiding something frankly right in front of their eyes This is just plain old embezzlement Old school old school” he added NextBinance CEO Warns Staff To Gear Up For A Bumpy Ride Ahead Report Photo Courtesy of Shutterstock | 0 |
Dominion Energy Inc NYSED reported first quarter revenues for 2023 of 525 billion exceeding the consensus of 446 billion Operating earnings fell 15 YY to 849 million declining across all segments The company reported a pre tax net income of 206 million in Q1 vs a loss of 255 million a year ago with a net market benefit of 354 million related to nuclear decommissioning trusts and hedging activities Operating EPS of 099 down from 118 a year ago beating the consensus of 097 Operating expenses rose to 381 billion from 33 billion a year ago Cash flow from operating activities rose to21 billionfrom 113 billion a year ago Cash and cash equivalent stood at 179 billion at the end of Q1 Outlook Dominion Energy expects Q2 operating EPS of 058 to 068 versus the consensus of 079 Price Action Dominion Energy shares are trading lower by 189 at 5550 premarket on last check Friday | 0 |
Shares in Delivery Hero SE jumped on Tuesday after it said late Monday that it expects its core food delivery business to break even in the second half of 2022 At 0845 GMT shares were up 49 at EUR8596 The German food delivery platform now expects adjusted earnings before interest taxes depreciation and amortization to be between 0 and 100 million euros 0 1133 million in the fourth quarter of 2022 It also said investments related to its quick commerce business should peak in the first quarter and gradually decline after and confirmed its long term adjusted Ebitda to gross merchandise value margin target of between 5 and 8 The investment strategy has proved to be successful and we are on a solid trajectory to turn our food delivery business profitable during the second half of this year Delivery Hero s Chief Financial Officer Emmanuel Thomassin said The latest guidance is well above consensus expectations of adjusted second half negative Ebitda of EUR125 million in 2022 although more detail is needed especially on the integration of subsidiary Glovo analysts at Citi say Delivery Hero became a majority shareholder in Spain s Glovo on the last day of 2021 having raised its stake to more than 83 Still the company s latest update is striking since Delivery Hero hasn t given targets for the timing of achieving a break even since 2018 Bryan Garnier said The aim seems obvious to reassure shareholders after a complicated year in 2021 share price down circa 30 and a tough start to the year down 17 in the year to date and finally reducing the risk of a hostile takeover Bryan Garnier said | 0 |
Spotify Technology SA NYSESPOT reported a loss for the second quarter on Tuesday The company reported second quarter FY23 revenue growth of 11 year on year to €318 billion 346 billion missing the consensus of 357 billion Loss per share of €155 or 169 missed the consensus loss of 070 Spotify sees Q3 revenue of €33 billion consensus 378 billion which includes a 600 bps hit from forex It expects total MAUs of 572 million Spotify shares fell 143 to close at 14038 on Tuesday but added 26 in today’s pre market trading session These analysts made changes to their price targets on Spotify following earnings announcement Goldman Sachs raised the price target on Spotify from 156 to 163 Goldman Sachs analyst Eric Sheridan maintained a Neutral rating Barclays boosted the price target on Spotify from 180 to 182 Barclays analyst Mario Lu maintained an Overweight rating Rosenblatt raised the price target from141to150Rosenblatt analyst Barton Crockett maintained the stockwith a Neutral rating Deutsche Bank analyst Benjamin Black meanwhile upgraded Spotify from Hold to Buy and announced a 180 price target Check This Out Coca Cola Microsoft And 3 Stocks To Watch Heading Into Wednesday | 0 |
The European Securities and Markets Authority ESMA is expressingconcerns over the potential misrepresentation of risk in the crypto investment sector by EU based firms offering digital assets alongside traditional financial instruments According to the EU regulatory agency these firms could be leveraging their regulatory approval for offering traditional financial stocks or funds to give clients a false assurance of sound financial advice or compensation mechanisms in case of any mishaps with their crypto investments The agency draws attention to the fact that while the Markets in Financial Instruments Directive MiFID in the EU ensures that only appropriate financial products are promoted to clients by investment intermediaries it does not extend to more unconventional investment opportunities like precious metals real estate or non transferable loans There are plans to establish MiFID style regulations for the crypto sector through the EU’s Markets in Crypto Assets regulation MiCA Also Read The Big Short Author Michael Lewis To Reveal Explosive Secrets Of FTX Empire Collapse In Book However the implementation of this regime is projected to take around a year and a half ESMA headquartered in Paris and coordinating with national regulators has expressed concerns over some firms exploiting this regulatory gray area during the interim period ESMA encourages investment firms to take necessary steps to ensure that clients are fully cognizant of the regulatory status of the products or services they are availing and to explicitly inform clients when regulatory protections are not applicable ESMA stated stressing that regulatory approvals should not be used as a marketing gimmick ESMA had earlier issued warnings about the potential risks of crypto investments highlighting new threats like cyber attacks and consensus manipulation in an October report The agency is also poised to hold consultations on comprehensive secondary laws that would actualize the MiCA regulations Read NextPutin s Sanctions List Former Adversaries Of Trump And A Top BinanceUS Official Included Photo Unsplash | 0 |
Ford Motor Company F and Tesla Inc TSLA shares are trading lower during Friday s trading session Shares of several companies in the auto auto component space are trading lower amid overall market weakness as investors digest Jerome Powell s speech from the Jackson Hole Symposium Aggressive monetary policy could continue to weigh on economic sentiment Powell said the Federal Reserve’s goal remains getting inflation back down to a goal of 2 “Price stability is the responsibility of the Federal Reserve and serves as the bedrock of our economy” Powell said “Without price stability the economy does not work for anyone” Powell said the impact of inflation and the labor market often falls heaviest on those who are least able to bear it Read More See Also Stocks Plummet As Powell Doubles Down On Fed s Inflation Fight Until The Job Is Done Ford is trading lower by 257 to 1552 Tesla is trading lower by 174 to 29091 | 0 |
AmazonNASDAQAMZN released a statement updating the company s position on pre employment cannabis testing SAFE banking federalmarijuanalegalization and expungement while reiterating that itszero tolerance for impairment while working has not changed We are enthused by the notable momentum in the country toward recognizing that today’s status quo is unfair and untenableWe look forward to working with Congress and other supporters to secure necessary reform of the nation’s cannabis laws per Amazon s June 8 2023 statement Amazon s update on advocacy for equitable workplaces In June 2021 we announced that Amazon would exclude marijuana from our comprehensive pre employment drug screening program for unregulated positions eg positions not regulated by the Department of Transportation and those not within Amazon Air We also reinstated the employment eligibility for former employees and applicants who were previously terminated or deferred during random or pre employment marijuana screenings We made these changes for a few reasons First we recognized that an increasing number of states are moving to some level of cannabis legalization—making it difficult to implement an equitable consistent and national pre employment marijuana testing program Second publicly available national data indicates that pre employment marijuana testing disproportionately impacts people of color and acts as a barrier to employment And third Amazon’s pace of growth means that we are always looking to hire great new team members and we’ve found that eliminating pre employment testing for cannabis allows us to expand our applicant pool Given our previous support for legalizing cannabis at the federal level as well as expunging certain criminal records and investing in impacted businesses and communities Amazon announced our support for theMarijuana Opportunity Reinvestment and Expungement Act of 2021 MORE Actand theCannabis Administration and Opportunity Actreadour comments on that legislation Most recently we endorsed theStates Reform Act a Republican led bill offering comprehensive reform that speaks to the emergence of a bipartisan consensus that it is time to end the federal prohibition of cannabis Pre employment marijuana testing has disproportionately affected communities of color by stalling job placement and by extension economic growth and we believe this inequitable treatment is unacceptable As weshared earlier this year we aim to become Earth’s Best Employer and as part of that journey we know that our local communities and future generations need us to be better every day—thus the creation of ournew Leadership Principle Success and Scale Bring Broad Responsibility Together these principles speak to our responsibility to effect change and are our impetus for both driving for societal change and maintaining the right internal policies to ensure a great workplace with equitable and consistent hiring practices for all candidates That’s why we strongly believe the time has come to reform the nation’s cannabis policy and we are committed to helping lead the effort We remain committed to the safety of our employees and the general public In addition to following all Department of Transportation regulations our policy on zero tolerance for impairment while working has not changed If a delivery associate is impaired at work and tests positive post accident or due to reasonable suspicion that person would no longer be permitted to perform services for Amazon In addition Amazon Pharmacy conducts comprehensive drug testing for employees including screenings for marijuana to ensure full compliance with industry standards regulations and accreditation We are enthused by the notable momentum in the country toward recognizing that today’s status quo is unfair and untenable We look forward to working with Congress and other supporters to secure necessary reform of the nation’s cannabis laws | 0 |
Air Canada said Tuesday that it plans to increase its capacity in the third quarter but that it will still be shy of its prepandemic levels and that it expects costs to rise by as much as 17 from 2019 levels The Canadian airline said that it plans to increase its capacity in the third quarter measured in available seat mileage by 131 from the same quarter in 2021 or about 79 of the comparable period in 2019 For the full year ASM is expected to be about 150 higher than 2021 but around 74 of 2019 In 2022 the company said that adjusted cost per available seat mile is expected to rise by 15 to 17 from 2019 levels The company said that the higher costs are mainly due to an increase in the number of customers carried which drives up passenger service and distribution costs To a smaller extent wages salaries and benefits have a role in the increase as well For the year Air Canada maintains its expectation of an annual earnings before interest taxes depreciation and amortization margin of around 8 to 11 Air Canada will continue to adjust capacity and take other measures as required including to account for passenger demand public health guidelines and travel restrictions globally as well as other factors such as inflation and other cost pressures the company said | 0 |
TODAY ONLY Get 40 OFF Benzinga s winning options trading strategy even during bear markets Click Here to See the Trades A whale with a lot of money to spend has taken a noticeably bullish stance on United Airlines Holdings Looking at options history for United Airlines Holdings UAL we detected 21 strange trades If we consider the specifics of each trade it is accurate to state that 71 of the investors opened trades with bullish expectations and 28 with bearish From the overall spotted trades 3 are puts for a total amount of 139488 and 18 calls for a total amount of 2618705 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 420 to 540 for United Airlines Holdings over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for United Airlines Holdings s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of United Airlines Holdings s whale trades within a strike price range from 420 to 540 in the last 30 days United Airlines Holdings Option Volume And Open Interest Over Last 30 Days Where Is United Airlines Holdings Standing Right Now With a volume of 2440344 the price of UAL is up 243 at 4513 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 52 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you are already an options trader or would like to get started head on over to Benzinga Pro Benzinga Pro gives you up to date news and analytics to empower your investing and trading strategy | 0 |
A move by the US and its allies to release oil from their reserves should help counter the loss of Russia s vast supplies after its invasion of Ukraine and should help ease an energy crisis that has sent oil prices rising the International Energy Agency said Wednesday The IEA which earlier this month helped coordinate the collective stock releases said the move would help prevent supplies of crude from falling significantly behind demand which has rebounded at a fast clip as pandemic related lockdowns in most of the world have eased Steady increases in monthly oil output from members of the Organization of the Petroleum Exporting Countries and their allies which include Russia as well as weaker demand in China due to a resurgence of Covid 19 cases there would also contribute to easing the long brewing supply crunch made worse by the outbreak of war in Ukraine the IEA said The IEA cut its demand forecast for the year by 260000 barrels a day due to a lockdown in Shanghai that has shut off the city of 25 million people The Paris based agency now expects total demand for the year to stand at 994 million barrels a day The IEA also cut its forecasts for supply as oil releases from its members are expected to temper the loss of Russian crude oil which has been left stranded by Western sanctions and moves by banks shipping firms and Western oil companies to shun Russian cargoes The total oil supply for the year is forecast at 993 million barrels a day around 200000 barrels a day less than was expected a month ago the IEA said Up to 3 million barrels a day of Russian oil could be lost to global markets by next month as the country s oil companies facing a dearth of customers and steep discounts for the oil they pump shut in wells Write to Will Horner at williamhornerwsjcom | 0 |
CBH Homes is thriving in one of the most watched markets BOISE Idaho April 12 2022 PRNewswire CBH Homes Idaho s largest and voted 2022 Best Home Builder by Idaho Business Review is celebrating 30 years of building homes in Idaho in one of the hottest markets in the nation Watching this community grow for the past 30 years is a dream I ve loved every minute of it The technology culture and businesses that are now here it s awe inspiring There is no better place to be said Corey Barton PresidentOwner of CBH Homes Boise was named 4th in by Daily Magazine and it s no mystery that the Boise housing market is booming The area has seen three national home builders join in the past year and this local Idaho builder after 30 years is still dominating CBH Homes is staying more competitive than ever before and bringing cutting edge technology to the industry From home buying tools such as being able to tour a home without an agent with Tour Now to buying a home online with the click of a button CBH is on the forefront in the homebuilding industry working to provide homeownership on every level This is a new era of CBH We re bringing not only homes to Idaho but rentals commercial spaces and more said Corey These are places meant for families to grow work and play We re investing in schools and organizations that are improving our community Thirty years has been fun but we re excited for what s to come and to watch this place we love continue to grow and thrive What does 30 years of building in Idaho look like What started with one man a hammer and a tool belt has grown to a high energy team of 300 people a Best Place to Work a community supporter and an award winning home builder As a privately held company building solely in Southern Idaho CBH is a force to be reckoned with Welcoming over 23000 happy homeowners and counting CBH is proud to be a local and proud to be supporting Idaho The 30 year celebrations are just getting started CBH has big plans throughout the year from rodeos parades and even a hot air balloon in the works This is a big year for us and we want to celebrate with the community that has given us so much said Ronda Conger Vice President of CBH Homes Join in on the party and see where CBH is headed About has been building dreams for Idahoans for over 30 years and for 19 of those CBH Homes is Idaho s 1 Builder an Idaho Best Place to Work now ranked 36 in the nation and proudly working with over 23000 happy homeowners Cbhhomescom RCE 923 | 0 |
Someone with a lot of money to spend has taken a bullish stance on Halliburton HAL And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with HAL it often means somebody knows something is about to happen The overall sentiment of these big money traders is split between 64 bullish and 35 bearish Out of all of the options we uncovered there was 1 put for a total amount of 48900 and 27 calls for a total amount of 2079441 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 300 to 400 for Halliburton over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Halliburton s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Halliburton s whale trades within a strike price range from 300 to 400 in the last 30 days Halliburton Option Volume And Open Interest Over Last 30 Days Where Is Halliburton Standing Right Now With a volume of 12722920 the price of HAL is down 035 at 3446 RSI indicators hint that the underlying stock may be overbought Next earnings are expected to be released in 0 days What The Experts Say On Halliburton Morgan Stanley has decided to maintain their Overweight rating on Halliburton which currently sits at a price target of 42 Jefferies downgraded its action to Buy with a price target of 40 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Halliburton Benzinga Pro gives you real time options trades alerts | 0 |
Good morning US Europe energy agreement expected Biden’s national security budget plan UK faces 5 billion bill over Gazprom the biggest losers from energy shock Here’s what people are talking about The Biden administration and European Union are close to a deal aimed at slashing Europe’s dependence on Russian energy sources as the US and its allies seek to further isolate and punish Moscow for the Ukraine war President Joe Biden’s national security adviser said that an agreement would be announced as soon as Friday It’s intended to ensure supplies of American natural gas and hydrogen for Europe | 0 |
Renewi PLC said Thursday that its first quarter performance was in line with the board s views and it backed its expectations for the fiscal year The waste to product business said that revenue and earnings before interest and taxes for the three month period ended June 30 were higher than the prior year The company added that it continues to keep a robust cost control and manage the impact of inflationary pressures while recyclate prices remain well above historic averages Renewi added that the acquisition of Amsterdam based commercial waste and recycling business Paro is expected to complete in August | 0 |
VP PLC said Tuesday that its first half pretax profit slipped as costs weighed though revenue rose on sustained demand and it named Anna Bielby as incoming chief financial officer The UK equipment rental company made a pretax profit of 179 million pounds 214 million for the six months ended Sept 30 down from GBP186 million a year earlier as costs rose Revenue rose 6 to GBP1865 million Earnings before interest taxes depreciation and amortization increased to GBP478 million from GBP445 million while adjusted pretax profit rose 6 to GBP215 million The company also said Group Finance Director Allison Bainbridge will retire and step down from the board on Dec 31 Ms Bainbridge will be succeeded the following day by Ms Bielby but will remain available until Jan 31 to support the transition The board declared an interim dividend of 110 pence up from 105 pence a share a year prior VP mitigated inflationary pressures across the period with agreed price increases and focus on efficiencies and it expects these actions to remain a priority for the foreseeable future it said | 0 |
Register now for FREE unlimited access to Reuterscom Register MANILA Sept 16 Reuters The Philippine central bank said on Friday it expects the country s current account balance to register deficits equivalent to 50 and 45 of gross domestic product in 2022 and 2023 respectively wider than the previous projections The Bangko Sentral ng Pilipinas said the revisions took into account intensifying risks of a global growth slowdown amid rising inflation and interest rates and the recovery momentum seen for the domestic economy Reporting by Neil Jerome Morales and Enrico Dela Cruz Editing by Ed Davies | 0 |
FTSE 100 Seen Opening Higher as Traders Return From Long Weekend 0636 GMT The FTSE 100 is seen opening higher after UK markets were closed Monday for a public holiday IG futures data expect the London index of blue chip stocks to rise 20 points That comes ahead of an expected recovery in US stocks with IG expecting the Dow to open up 69 points The US futures look better this morning but the market sentiment will likely remain morose after Federal Reserve Chair Jerome Powell s clear declaration that the Fed will have no pity for the markets and continue tightening its policy until it puts inflation on a sustainable path toward its 2 policy target Swissquote Bank analyst Ipek Ozkardeskaya writes renaedyerwsjcom Bigblu Broadband PLC said Tuesday that adjusted earnings were flat on year and that revenue grew as it saw strength in its Australian business and churn rates reduce Bunzl PLC said Tuesday that its first half pretax profit and revenue rose driven both by acquisitions and organic growth and raised its full year operating margin expectations Surface Transforms PLC said Tuesday that it has been selected as a Tier 1 supplier of a carbon ceramic brake disc to a battery electric vehicle company Insig AI PLC said Tuesday that a further tranche of 240000 pounds 280968 on two convertible loan facilities have been drawn down Diurnal Group PLC said Tuesday that it has agreed to a 483 million pound 565 million takeover by Neurocrine Biosciences Inc DP Poland PLC said Tuesday that Chief Financial Officer Malgorzata Potkanska will step down with effect on Sept 30 Joules Says Talks With Next Remain Positive in Place Joules Group PLC said Tuesday that it continues to be in talks with Next Plc about a potential equity investment in the company and the use of Next s total platform services to support its expansion plans Revolution Beauty Shares to Be Suspended Due to Delayed FY 2022 Results Revolution Beauty Group PLC said Tuesday that its shares will be suspended from AIM trading from Thursday as it will be unable to publish its audited results for fiscal 2022 on Wednesday Braemar Shipping Services PLC said Tuesday that it has raised its expectations for fiscal 2023 underlying operating profit after booking exceptionally strong trading during the first five months Centralnic Swung to 1H Pretax Profit as Revenue Grew Due to Organic Growth Centralnic Group PLC said Monday that it swung to pretax profit for the first half of 2022 as revenue grew on the back of continued organic growth supplemented by acquisitions and that it is performing toward the high end of the board s forecasts Biffa PLC said Tuesday that the deadline for private equity firm Energy Capital Partner LLC to make a formal offer or walk away from takeover discussions has been further extended Dechra Pharmaceuticals PLC said Tuesday that it has acquired California based veterinary pharmaceutical manufacturer Pharmex Inc for 260 million on a debt free and cash free basis | 0 |
The Federal Reserve will keep monetary policy tight until the second half of next year according to SP Global Ratings SP said in a research note the Fed is now likely to push rates to 400 425 basis points by early next year The Fed will then cut rates late next year “as its soft landing turns into a hard one with prices softening on weak demand” SP added Beth Ann Bovino SP’s chief US economist said that “While our baseline now includes a shallow recession we can’t rule out chances of an even harder landing” | 0 |
Children s Place IncNASDAQPLCE reporteda first quarter FY23 sales decline of 112year on year to 32164 million missing the consensus of 33846 millionComparable retail sales decreased 82 for the quarter Gross profit decreased 32 YY to 965 million with the margin contracting 920 basis points to 30 The operating loss for the quarter was 301 million compared to an income of 193 million last year Adjusted EPS of 200 missed theanalyst consensusof 183 The company held 182 million in cash and equivalents as of April 29 2023 Inventories for Q1 fell 82 YY to 5042 million The company ended the first quarter of 2023 with 599 stores a 9 decline YY Our first quarter results were negatively impacted by the ongoing macro tension which resulted in outsized pressure on our core customer by limiting their purchasing power said President and CEO Jane Elfers The company has now taken a more cautious consumer outlook citing significant macro economic headwinds OutlookChildren s Placesees FY23 salesof 1575 billion 1590 billion prior162 billion 166 billion versus the Street view of 165 billion and adjusted EPS of 100 150 prior 250 300 below the consensus of 215 PLCE expects Q2 sales of 340 million 345 million below the consensus of 35828 million Q2 Adjusted EPS of 215 220 against the Street view of 156 Price ActionPLCE shares are trading lower by 162 at 1990 in premarket on the last check Wednesday Photo Via Company | 0 |
Someone with a lot of money to spend has taken a bearish stance on Pinduoduo PDD And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with PDD it often means somebody knows something is about to happen So how do we know what this whale just did The overall sentiment of these big money traders is split between 33 bullish and 66 bearish Out of all of the special options we uncovered 7 are puts for a total amount of 385470 and 5 are calls for a total amount of 356775 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 300 to 750 for Pinduoduo over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Pinduoduo s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Pinduoduo s whale trades within a strike price range from 300 to 750 in the last 30 days Pinduoduo Option Volume And Open Interest Over Last 30 Days Where Is Pinduoduo Standing Right Now With a volume of 5444768 the price of PDD is down 264 at 6303 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 56 days What The Experts Say On Pinduoduo Barclays has decided to maintain their Equal Weight rating on Pinduoduo which currently sits at a price target of 45 Citigroup has decided to maintain their Buy rating on Pinduoduo which currently sits at a price target of 62 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Pinduoduo Benzinga Pro gives you real time options trades alerts | 0 |
Phil ISE was speaking to a venture capitalist this week who said the IPO window is frozen shut Would you agree It s frozen shut It s closed It s double locked It s nothing s happening for a while So what next So I think we re this in this period of uncertainty about inflation and its impact on companies You ve got tech stocks that are down to almost pre pandemic levels of pricing right Kind of like good yardsticks of the market like Zoom DAX sign Palatine and you ve got the political risk out there And until those things are kind of have a bit more resolution I think you re going to see a lot of companies thinking about raising a new round of funding or something that we re starting to see now which is starting to kind of control their cash through layoffs or kind of re projecting some of their growth So go Puff for example is reportedly cutting a lot of jobs And also Bloomberg is reporting they re raising a billion dollars in new funding with no IPO in sight They d originally raised at a 15 billion dollar valuation Not sure if that valuation will hold up but what do you imagine is going on behind the scenes at a company like Go Puff right now Some very stressful board meetings for sure I think you re going to see some valuations come down One of the scary things is that a lot of companies raise a lot of private capital in 2021 at really high valuations And now they re probably effectively underwater and are a little behind on growth strategies and growth projections And so I think the real big next wave is going to be kind of this day of reckoning where companies admit it start layoffs have to raise money but probably at terms they are not really excited about And you re going to have to hear the D word in Silicon Valley which is the down rounds We re going to see more of those kind of come out And we re just you know it s really if you want to be the first to kind of tear the Band Aid off or if you kind of want to wait and hope that things are gonna get better But you know like say hope is not a strategy We saw in staccato sort of tear off the Band Aid lowering their own valuation from thirty nine to twenty four billion dollars voluntarily They re not in the process of raising money at least not right now You re saying mass layoffs a mass number of down rounds Are we going to see companies go under get acquired I think a combination of all three I thought what Instagram did was a really gutsy move really to kind of come out first and say look there s a benefit to actually repricing ourselves at 24 billion We can now issue stock to our employees in a more fair value Our competitors like Dash are down a lot I think other company is going to do so You re probably going to see some consolidation And I think you re going to start to see a paradigm shift where instead of it being a very founder friendly market to raise capital it s going to shift to the B season so that growth equity investors get better terms they re going to get better valuations and we re going to start to see that happen One of the interesting things that equities end is because of kind of where we sit we can actually see secondary transactions that are happening in between the last funding round Right Because we usually don t see prices happen for a year or two at a time And we re definitely seeing kind of pricing compression versus just a quarter ago What does it mean for employees in the middle of the great resignation when a lot of people have been thinking about you know do I really want to keep doing what I m doing Yeah absolutely Well the first thing is a lot of these employees were really excited and anticipating some type of liquidity for their shares by way of some type of IPO or maybe a stock And maybe if they d started thinking about life events So when you compound the fact that the markets are down you re not getting liquidity goods are costing more A lot of companies are starting to proactively kind of reach out to places like ourselves and start to think about liquidity for their employees and the private markets Right And so fortunately that s kind of a part of the capital market structure that s that s grown a lot in the last seven or eight years So we expect to keep seeing that happen Now your rival Forge I believe just did a spark Is equities and can IPO eventually though Maybe not in the near market Yeah well windows very close right now But you know we started equities end to bring private markets to the public Right And that s our mission And we ve been fortunately be able to grow and as a private company haven t been inhibited by how we can deliver That s for our customers But you know as my co founder and I one of our responsibilities is to kind of evaluate all options and if there s an opportunity could significantly grow the business and and kind of further that mission You know we will keep our door open to that | 0 |
I wanted to start with the dollar and the Fed and macro but this sort of forces my hand just to talk about China What type of exposure do you think investors should have as far as China s concerned Given the fact that this market s already rallied quite a bit Right so that you don t we think that the Chinese markets are undergoing a volatile bottoming process here at the capitulation that we saw in late October Likely Is that what we will see it So I think that investors should be gradually adding exposure to Hong Kong and China Where exactly Right So you know there will be a bumpy reopening process and you don t in the cases in China s spikes significantly so far but generally over the next 12 to 18 months we think that consumption is going to pick up That s number one So we think that there are some very interesting opportunities in the sector And second we ve seen a lot of destruction in terms of valuations in the technology sector in that sector for instance And there are some very compelling opportunities that right now Would it be accurate to say simply if you were an equity investor within the equity space This probably gives you the most alpha next year Yes we We think so But obviously they don t It s been a consensus on trying to trade for about six months now for most of the street and it s just been exhausting and difficult trying to find the bottom But if you look at what a Philippines over the last four weeks This is where we trot in previous bad markets I think we are we are in the area Click here David Yeah I mean single digits right Who would have thought in a market like these in an economy like China that was growing at one point high single digits Right Let s talk macro now This might go into the China story too Do you think the dollar s peaked We we think that flows up to that point now So we are not neutral on the US dollar And you know just just a few key thoughts Yeah The US economy is clearly weakening The Fed is nearing the end of its rate hike cycle At least it is slowing down And you know a positioning wise that has been a very very you know crawl up called a trade So we are seeing a reversal of that forces and of these forces And I think over the next 12 months we ll likely see a peak in the dollar and then some of the pick up in a major piece such as the euro and the yen Likely in the middle of getting twenty three Right What do you make of this Well I mean you alluded to this already a little bit but I m curious to see what you re watching specifically because this Fed pivot happens very slowly but then all at once and then by the time it happens sort of you ve missed the trade And I m wondering how near you think we are and how visible that corner is to you Right So I do think that the sharp depreciation of dollar debt we saw over the last four weeks or so is likely a bit overdone We should expect such a shock to retracement But over the next three to six months as we we saw a very weak PMI in the US yesterday as we get more signals that the US economy is slowing down and the Fed is sort of omniscient We saw in the last minutes that that there is a lack of effect for the very draconian they don t rate hikes that we ve seen so positive Slow though as well And you know combining on his and the fact that a lot of X dollar currencies particularly in Asia is changing the recovery in China which we know is going to pick up over the next six to twelve months All this points to a blinding uptick in the dollar over the next six months It might be OK When it comes to fixed incomes I mean are indirectly are you saying that we start adding duration at this point or is it too early for that I think we are almost out of date know along with the dollar Look I think the downswing in the 10 year Treasury yields is likely a little overdone yet so we may see some retracement up that move But at about 4 percent for the 10 Yeah I think that s a very very compelling point to start to lock in some of that terrific use So do you do we should exposure right now OK Now I mean a lot of argument a lot of debate whether the Fed cuts next year I mean personally that seems like a tall order Otherwise they wouldn t just stop hiking Not right That would be the easy path Now that being said let s say the scenario next year is they hike Let s say we for four to five percent is where we are on the Fed rate and they hold it there for the next say 12 18 months What does that investment environment look like to you if you re trying to figure out a portfolio between stocks and bonds Right So it will likely be a grind in the first half of next year They did not like Like I said I think if we see the economy slowing but the Fed hoarding rates are an indicator that means that that is likely another major domino for US equities ahead But let s But for bonds that s a that s a different story I mean are likely to see use cheek right about near the end of the Fed rate hike cycle And you know if you think back to when it was like 10 months ago I mean these kind of views that we re seeing right now is very very attractive I think that would be a rush to buy duration like in the first half of next year I think 4 percent for the US 10 years is a very attractive level to the stock And I think that would be the big trade fall for the plus hypothetically 3 | 0 |
The US manufacturing sector expanded in August at its slowest pace in more than two years as output declined and high inflation weighed on demand data from a purchasing managers survey showed Thursday The SP Global US manufacturing PMI fell to 515 in August from 522 in July but increased marginally from the preliminary reading of 513 This is the lowest level since July 2020 Economists polled by The Wall Street Journal expected the reading to be unchanged from the preliminary estimate The indicator suggests that overall factory activity barely grew over the month as the index came in close to the 500 threshold that separates expansion from contraction Barring the initial Covid 19 pandemic lockdown months August data point to the steepest downturn in US manufacturing activity since the global financial crisis in 2009 said Chris Williamson chief business economist at SP Global US factory production was down for a second month running in August with demand for goods having now fallen for three straight months amid the ongoing impact of soaring inflation supply constraints rising interest rates and growing economic uncertainty about the economic outlook he said Goods producers said weakening demand was linked to economic uncertainty and price increases SP Global said The sharpest drop in demand was recorded for business equipment and machinery sectors it said However falling demand prompted an improvement of both supply chain bottlenecks and inflation pressures according to the survey data Delivery delays persisted but at the lowest level since October 2020 while input cost inflation grew at it slowest pace since January 2021 as a number of firms noted reduced costs for some materials Although still elevated by historical standards the survey s inflation gauges are now at their lowest for one and a half years which should help to bring consumer price inflation down in the coming months Mr Williamson said | 0 |
According to the latest MLIV Pulse survey professional investors and do it yourself traders are sharply divided over the best way to position ahead of the Federal Reserve’s rate decision on Wednesday reported Bloomberg The top responses showed that 37 of retail investors believed owning US stocks is the best trade ahead of the central bank decision while 40 of professional investors stated it’s better to short them the report said Also Read Best Penny Stocks Major Wall Street indices closed in the red on Friday following the release of a higher than expected producers price index reading All attention turned towards the consumer price inflation set to be released on Tuesday and the crucial FOMC meeting where the Federal Reserveis expected to hike its policy rates by 50 basis points on Wednesday The SPDR SP 500 ETF Trust NYSESPY closed 075 lower on Friday while the Vanguard Total Bond Market Index Fund ETF NASDAQBND ended 058 lower Professional investors believe that alongside stocks high grade corporate credit stood the most chance to gain after a 50 basis point hike Retail traders No 2 pick was long dated Treasuries which have surged sharply in recent weeks the report said Almost two thirds of investors surveyed supported the possibility of a mild US recession next year Read Next Alibaba Nio Stocks Drop Hang Seng Opens Weaker As US Inflation Data Fed Meet Eyed | 0 |
The price of Bitcoin CRYPTO BTC could soar above 120000 if miners continue to hold onto tokens according to Standard Chartered analyst Geoff Kendrick Business Insider reports What Happened Kendrick suggests that the behavior of Bitcoin miners who often sell fewer tokens when the price climbs could create a positive feedback loop that propels Bitcoin’s price beyond already bullish forecasts “And so your point about this becoming self fulfilling I suspect is actually a very important driver” he said See Also Elon Musk’s Tesla Cybertruck Spotted Sporting Clever Disguise Masquerading As Ford F 150 Why It Matters The upcoming halving of Bitcoin in 2024 which will cut the reward given to miners in half is another factor that could lead to price increases Kendrick also pointed out that miners do not have many reasons apart from Bitcoin’s price moves to sell the token Many miners hold on to their bitcoin with the hope that its valuation will eventually climb up “So they basically want to have a company that starts out when prices are cheap get cheaper electricity and stuff and then hold on It’s like a super leveraged play” he explained Read Next Twitter CEO Linda Yaccarino Says Xcom Will Be Powered By AI And Will Connect In Ways We re Just Beginning To Imagine Photo by EamesBot on Shutterstock Engineered by Benzinga Neuro Edited by Pooja Rajkumari The GPT 4 Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem including native data APIs and more to create comprehensive and timely stories for you Learn more | 0 |
Shares of social media and digital advertising companies took a hit in premarket trading as investors digested a mid quarter warning from Snap Inc which said revenue and adjusted earnings would likely come in below the projections it issued about a month earlier Macro conditions have deteriorated further and faster than expected since the company issued its guidance for the current quarter Chief Executive Evan Spiegel said Monday at a JP Morgan Chase Co conference sparking fears of a digital advertising slowdown Mr Spiegel cited a range of issues from rising inflation to Apple Inc s privacy policy changes to the impacts from the war in Ukraine and other factors The warning sent shares of fellow social media and digital advertising companies tumbling Shares of Facebook and Instagram owner Meta Platforms Inc were more than 7 lower in the premarket while Twitter Inc stock fell almost 4 now about 40 lower than the 5420 a share that Elon Musk initially agreed to pay for the company Pinterest Inc stock fell more than 13 in premarket trading and Google parent Alphabet Inc traded almost 4 lower Shares of ad buying platform The Trade Desk Inc were almost 8 lower Roku Inc stock fell almost 5 Shares of Snap were hit the hardest falling almost 30 to 1593 a share and eliminating nearly all of the company s pandemic gains Analysts at KeyBanc cautioned in a research note that while Snap s warning on the macro environment is notable some of the issues may be unique to Snap For example they said Snap s younger user base may be more sensitive to inflation than the users of other social media companies Given Snap is a low single digit percentage of industry ad revenue we view the 2Q guidance update as a cautionary flag but not one to sound the alarm on the entire sector the analysts said The analysts said larger companies like Meta and Alphabet likely face lower risk in a deteriorating macro environment while Twitter and Pinterest may be among the most vulnerable right now The analysts cut their price target on Snap to 27 a share from 45 a share Write to Will Feuer at WillFeuerwsjcom | 0 |
St Louis Fed President James Bullard sat down for an exclusive interview with MarketWatch on Monday Nov 28 and discussed his outlook for interest rates and inflation Bullard made headlines in the interview when he said he thought the financial markets were underestimating the chances of still higher target lending rates He said the US’s inflation fight would stretch through next year and into 2024 Fed’s Bullard says in MarketWatch interview that markets are underpricing the chance of still higher rates The St Louis Fed president said he didn’t think a US recession was inevitable Read on Fed will likely need to keep interest rates above 5 into 2024 to succeed in taming inflation Bullard says | 0 |
Bitcoin CRYPTO BTC the world’s most valued cryptocurrency remained steady during the weekend trading above the 23400 mark this morning The second most valued cryptocurrency Ethereum CRYPTO ETH meanwhile surpassed the 1700 level on Monday Other popular crypto coins including Solana CRYPTO SOL and Dogecoin CRYPTO DOGE also recorded gains today Oasis Network CRYPTO ROSE was the top gainer over the prior 24 hours while Decred CRYPTO DCR turned out to be the biggest loser At the time of writing the global crypto market cap rose to 111 trillion recording a 24 hour increase of 22 BTC was trading higher by around 19 to 23426 while ETH gained around 24 to 1722 on Friday Investors are now awaiting earnings results from Tyson Foods Inc NYSETSN Take Two Interactive Software Inc NASDAQTTWO and American International Group Inc NYSEAIG scheduled for release today Here are the top ten crypto gainers and losers over the past 24 hoursGainers Oasis Network CRYPTO ROSE Price 0106424 hour gain 255 Flow CRYPTO FLOW Price 30424 hour gain 149 THORChain CRYPTO RUNE Price 29524 hour gain 107 PancakeSwap CRYPTO CAKE Price 45524 hour gain 104 Mina CRYPTO MINA Price 0912224 hour gain 99Losers Decred CRYPTO DCR Price 371724 hour drop 86 Lido DAO CRYPTO LDO Price 25024 hour drop 22 Kusama CRYPTO KSM Price 658424 hour drop 21 UNUS SED LEO CRYPTO LEO Price 48924 hour drop 13 Optimism CRYPTO OP Price 19624 hour drop 1 | 0 |
COLOMBO March 3 Reuters Sri Lanka s central bank raised interest rates in an unexpected move on Friday to help finalise an International Monetary Fund s Extended Fund Facility EFF arrangement it said in a statement The bank raised its standing deposit facility rate and standing lending facility rate by 100 basis points each to 1550 and 1650 respectively The country is awaiting approval of a 29 billion IMF bailout package Its economy has been squeezed by its worst financial crisis since independence from Britain in 1948 with growth contracting by an estimated 92 last year amid soaring inflation that hit 50 in February Reporting by Uditha Jayasinghe Swati Bhat and Sudipto Ganguly Editing by Robert Birsel and John Stonestreet | 0 |
Next gen psychedelics developer Biomind Labs Inc BMNDF shared its unaudited financial results for the three and nine months ended September 30 2022 and announced that the FDA gave clearance to the company’s Investigational New Drug IND application related to New Chemical Entity NCE Triptax Biomind Labs is developing novel pharma formulations of the main psychedelics DMT 5 MeO DMT and mescaline and is focused on bringing patients and the psychiatric community novel and affordable treatments CEO Alejandro Antalich stated that the approval is “a paramount achievement” for the company and “a historic moment” within the psychedelic treatments field “With this IND clearance we are now in a strong position to rapidly advance our clinical pipeline targeting depression specifically Treatment Resistant Depression TRD As part of our diversified go to market strategy the NCE Triptax opens a new avenue to be considered by traditional pharma companies since it could be used as an active pharmaceutical ingredient API or as a chemical precursor depending on the selected route of administration and physicochemical characteristics” Antalich further explained Financial results include total cash of 405111 as of September 30 2022 compared to 2273663 on December 31 2021 RD expenses for the three and nine month periods ended September 30 2022 totaled 75923 and 325026 respectively as compared to 336010 and 481858 for the same periods in 2021 Net loss for the three and nine month periods totaled 924153 and 2452594 respectively compared to 2568923 and 3145482 for the same periods ended September 30 2021 The company also announced it has entered into a loan facility with its largest shareholder Union Group Ventures Limited for the provision of a credit facility of up to 3000000 for working capital The loan details Amounts plus any applicable interest shall be repaid by Biomind 12 months after the date of the applicable interest or at an earlier date that the lender may elect alternatively through the issue of common shares The loan is unsecured no bonus securities will be granted to the lender and amounts advanced under it shall bear an annual interest of 12 | 0 |
US stocks ended sharply higher on Tuesday to close out a strong first month of the year as investors evaluated a continued flurry of corporate earnings and economic data while awaiting the Federal Reserve s first interest rate decision of 2023 The Nasdaq Composite cemented its best January performance since it notched a 122 gain in 2001 while the SP 500 booked its best start to a year since 2019 according to Dow Jones Market Data The SP 500 gained 62 this month while the Dow booked a monthly gain of 28 and the Nasdaq jumped 107 in January according to Dow Jones Market Data The Federal Open Market Committee kicked off its two day meeting on Tuesday with near universal expectations for a quarter percentage point interest rate hike with the uncertainty focused on the commentary to be delivered in the statement and the news conference with Chair Jerome Powell Melissa Brown managing director of applied research at Qontigo said the 25 basis point increase is baked in already but what the policy makers say about what they will do for the rest of the year is what s going to be important That expectation of a rate cut later in the year has really been one of the driving forces behind the market strength Brown told MarketWatch via phone If they Fed officials say they re not going to do that that could be a negative for the market On the other hand if they confirm that they re going to do that I m not sure that ll have a big impact because it s already built into market expectations Traders now place a 54 probability that the central bank would pause rate increases by midyear after raising it to a range of 475 to 5 according to the CME s FedWatch tool Read4 ways Powell could tell markets the Fed isn t ready to pivot Investors have to weigh potential Fed moves along with the slew of fourth quarter earnings reports and 2023 outlooks from major businesses Before the bell Exxon Mobil XOM Pfizer PFE Caterpillar CAT General Motors GM and McDonald s MCD reported earnings Meanwhile Tuesday s US economic data calendar included the employment cost index ECI which showed a 1 increase for the fourth quarter less than expected and a 51 increase for 2022 up from 50 In other data US home prices fell for a fifth straight month in November the SP CoreLogic Case Shiller 20 city price index showed Tuesday while consumer confidence slipped in January US stocks are rallying after some standout earnings and economic data that suggests disinflation trends should remain in place for a while said Edward Moya senior market analyst at Oanda Wall Street is slowly growing confident that this week s Fed rate hike might end up being the last one in this tightening cycle See US stock market hits the January Indicator Trifecta but can the rally last for the rest of 2023 | 0 |
Someone with a lot of money to spend has taken a bearish stance on American Airlines Group NASDAQAAL And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with AAL it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 24 uncommon options trades for American Airlines Group This isn t normal The overall sentiment of these big money traders is split between 29 bullish and 70 bearish Out of all of the special options we uncovered 11 are puts for a total amount of 443351 and 13 are calls for a total amount of 1051575 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 50 to 160 for American Airlines Group over the last 3 months Volume Open Interest Development In terms of liquidity and interest the mean open interest for American Airlines Group options trades today is 2105087 with a total volume of 4757200 In the following chart we are able to follow the development of volume and open interest of call and put options for American Airlines Group s big money trades within a strike price range of 50 to 160 over the last 30 days American Airlines Group Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume AAL CALL SWEEP BEARISH 011323 1350 3093K 68K 29K AAL CALL SWEEP BULLISH 021723 1500 1888K 230K 25K AAL PUT SWEEP BEARISH 062025 500 790K 174K 30K AAL CALL SWEEP BULLISH 021723 1600 781K 145K 345 AAL CALL SWEEP BEARISH 012023 1300 757K 335K 11K Where Is American Airlines Group Standing Right Now With a volume of 9143356 the price of AAL is up 289 at 1459 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 14 days What The Experts Say On American Airlines Group Goldman Sachs downgraded its action to Neutral with a price target of 13 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for American Airlines Group Benzinga Pro gives you real time options trades alerts | 0 |
Traders work on the floor of the New York Stock Exchange NYSE in New York City US July 21 2022 REUTERSBrendan McDermid July 22 Reuters US stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad tech firms dropped offsetting gains from card issuer American Express following an upbeat forecast Still all three major indexes posted weekly gains despite Friday s losses with the tech heavy Nasdaq closing out the week 33 higher The SP 500 advanced 24 and the Dow gained 2 Snapchat owner posted its weakest ever quarterly sales growth as a public company sending Snap Inc s shares down nearly 40 while Twitter Inc TWTRN reversed earlier losses to add 08 following a surprise fall in revenue read more Other online companies that depend heavily on ads such as tech giants Meta Platforms Inc METAO and Alphabet Inc GOOGLO tumbled 76 and 56 respectively weighing on the Nasdaq IXIC Meta and Alphabet are set to post their earnings next week along with mega cap peers including Apple Inc AAPLO Microsoft Corp MSFTO and Amazoncom Inc AMZNO The SP 500 communication services SPLRCL and information technology SPLRCT tumbled 43 and 14 respectively leading declines among the index s 11 sectors The Dow Jones Industrial Average DJI fell 13761 points or 043 to 3189929 the SP 500 SPX lost 3732 points or 093 to 396163 and the Nasdaq Composite IXIC dropped 22550 points or 187 to 1183411 Earnings are coming in less bad than feared but they re deteriorating from what we got used to and accustomed to over the last several quarters said Bob Doll CIO at Crossmark Global Investments With 106 of the SP 500 companies having reported earnings through Friday morning 755 have topped analyst expectations below the 81 beat rate over the past four quarters according to Refinitiv data read more All eyes are on the Federal Reserve s meeting and second quarter US gross domestic product data next week While the US central bank is expected to raise interest rates by 75 basis points to curb runaway inflation the GDP data is likely to be negative again read more Meanwhile a survey on Friday showed that US business activity contracted for the first time in nearly two years in July deepening concerns about an economy stunted by high inflation rising interest rates and dwindling consumer confidence read more “Economic data is coming in weaker kind of confirming the fact that a recession is highly likely over the next 12 months And the markets is trying to figure out what that looks like with economic growth slowing significantly and the Fed in the midst of pretty aggressive tightening fiscal” said Megan Horneman chief investment officer at Verdence Capital Advisors in Hunt Valley Maryland Verizon Communications Inc VZN tumbled 68 after announcing it cut its annual adjusted profit forecast as inflation weighs American Express Co AXPN rose 19 on strong earnings and an increased revenue forecast read more Volume on US exchanges was 1038 billion shares compared with the 1153 billion average for the full session over the last 20 trading days Declining issues outnumbered advancing ones on the NYSE by a 143 to 1 ratio on Nasdaq a 249 to 1 ratio favored decliners The SP 500 posted 1 new 52 week highs and 31 new lows the Nasdaq Composite recorded 32 new highs and 74 new lows Reporting by Echo Wang in New York Additional reporting by Shreyashi Sanyal Aniruddha Ghosh and Bansari Mayur Kamdar in Bengaluru Editing by Saumyadeb Chakrabarty Sriraj Kalluvila Shounak Dasgupta and Aurora Ellis | 0 |
Someone with a lot of money to spend has taken a bullish stance on Shopify NYSESHOP And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with SHOP it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 10 uncommon options trades for Shopify This isn t normal The overall sentiment of these big money traders is split between 70 bullish and 30 bearish Out of all of the special options we uncovered 3 are puts for a total amount of 143925 and 7 are calls for a total amount of 233064 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 580 to 800 for Shopify over the last 3 months Volume Open Interest Development Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Shopify s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Shopify s whale trades within a strike price range from 580 to 800 in the last 30 days Shopify Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume SHOP PUT SWEEP BULLISH 011725 7500 648K 141 62 SHOP PUT SWEEP BULLISH 062124 6000 540K 10K 1 SHOP CALL TRADE BULLISH 081823 6500 460K 12K 169 SHOP CALL TRADE BULLISH 063023 6100 390K 474 145 SHOP CALL TRADE BULLISH 063023 5800 340K 181 0 Where Is Shopify Standing Right Now With a volume of 4539015 the price of SHOP is up 162 at 6479 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 26 days What The Experts Say On Shopify Jefferies has decided to maintain their Hold rating on Shopify which currently sits at a price target of 65 JMP Securities downgraded its action to Market Outperform with a price target of 70 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Shopify Benzinga Pro gives you real time options trades alerts | 0 |
12 A view of the Unicredit headquarters of which many employees are working from home due to a coronavirus outbreak in Milan Italy March 2 2020 REUTERSYara Nardi MILAN March 10 Reuters Shares in leading Italian banks UniCredit CRDIMI and Intesa Sanpaolo ISPMI fell sharply on Friday following a sell off in US and Asian banks driven by concerns lenders potentially face losses on their government bond portfolios The rise in interest rates has hammered the value of those portfolios with Italian banks seen as particularly exposed given the risk premiums investors demand to hold Italian paper rather than higher rated German government bonds Banks have limited the hit to their capital reserves by classing increasingly larger portions of their bond portfolios among assets held to maturity which prevents them from having to value them at current market prices However European Central Bank Chief Supervisor Andrea Enria warned last November that this accounting configuration gives a false sense of security in the face of shocks and volatility in that actual changes in fair value are not reflected in the banks earnings and regulatory capital figures By 0820 GMT shares in UniCredit lost 45 and Intesa around 4 The sell off overnight was sparked by a capital raising at SVB Financial Group SIVBO a small Silicon Valley bank that had to sell bonds at a loss to repay depositors | 0 |
SEOUL March 10 Reuters South Korean shares posted their biggest jump in more than three months on Thursday buoyed by hopes of market reforms by presidential election winner Yoon Suk yeol while oil paring steep gains also boosted sentiment The benchmark KOSPI KS11 rose 5446 points or 208 to 267686 as of 0147 GMT its sharpest intraday rise since Dec 1 as markets cheered former top prosecutor Yoon s win that signalled a turn for deregulation in capital markets for Asia s fourth largest economy read more Sentiment was also helped by a regional rebound as stalling of commodity price surge led to speculation that weeks of market gyrations may have priced in the economic impact of the Russia Ukraine conflict Among heavyweights technology giant Samsung Electronics 005930KS and peer SK Hynix 000660KS rose 201 and 254 respectively while LG Chem 051910KS rose 159 and Naver 035420KS jumped 903 Uncertainty regarding capital gains tax has eased with Yoon s win and that s certainly positive for the market said Lee Won an analyst at Bookook Securities Yoon who is bringing the conservative opposition to power after five years has pledged to scrap capital gains taxes on share sales and also crack down on the industry s traditional practices that favour institutional investors over retail stock holders The Yoon administration will likely advocate modernization of Korea s capital markets including protecting minority shareholders and improving transparency and fairness in capital market transactions Kwon Goo hoon at Goldman Sachs said in a report Foreigners were net buyers of 105 billion won 855 million worth of shares on the main board The KOSPI has fallen 1003 so far this year but lost 77 in the previous 30 trading sessions The won was quoted at 12278 per dollar on the onshore settlement platform 075 higher than its previous close at 12370 The won has lost 32 against the dollar so far this year Reporting by Cynthia Kim Additional reporting by Jihoon Lee Editing by Rashmi Aich | 0 |
Over the past 3 months 6 analysts have published their opinion on Cushman Wakefield CWK stock These analysts are typically employed by large Wall Street banks and tasked with understanding a company s business to predict how a stock will trade over the upcoming year In the last 3 months 6 analysts have offered 12 month price targets for Cushman Wakefield The company has an average price target of 2642 with a high of 3500 and a low of 2100 Below is a summary of how these 6 analysts rated Cushman Wakefield over the past 3 months The greater the number of bullish ratings the more positive analysts are on the stock and the greater the number of bearish ratings the more negative analysts are on the stock This current average has decreased by 598 from the previous average price target of 2810 Benzinga tracks 150 analyst firms and reports on their stock expectations Analysts typically arrive at their conclusions by predicting how much money a company will make in the future usually the upcoming five years and how risky or predictable that company s revenue streams are Analysts attend company conference calls and meetings research company financial statements and communicate with insiders to publish their ratings on stocks Analysts typically rate each stock once per quarter or whenever the company has a major update Some analysts will also offer forecasts for metrics like growth estimates earnings and revenue to provide further guidance on stocks Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error This article was generated by Benzinga s automated content engine and reviewed by an editor | 0 |
One of the best performing categories of the exchange traded fund industry in 2022 eclipsed a key milestone this week as the iMGP DBi Managed Futures Strategy ETF DBMF topped 1 billion in assets under management Managed futures strategies which go short and long various contracts to make large macro bets are one of the best performing sectors of funds in 2022 The big swings in stocks and commodities like oil have created something of a target rich environment for the hedge funds and other vehicles like ETFs that operate in this space In turn that has attracted investors who have been desperate to find some way to diversify their portfolios as both the stock and bond markets have been routed The iMGP DBi fund which is up about 33 year to date has seen inflows of more than 900 million this year according to FactSet The fund is by far the largest managed futures ETF according to VettaFi The iMGP DBi ETF aims to serve as something of an index fund that tracks the positions of a broad group of large managed futures hedge funds according to Andrew Beer founder and managing member of Dynamic Beta investments and co manager of the fund Beer who previously worked at Seth Klarman s Baupost Group said the purpose of the ETF is not to make his own macro calls but to aggregate hedge fund positions It uses performance data from hedge funds to derive the positions likely held by large funds in key futures contracts such as stocks gold and oil They have models to decide whether crude oil is going to go up or down Our model says how much crude oil do they own or not said Beer Before this year the ETF s hedge fund like strategy and small size made it difficult to attract new investors Beer said The early adopters of this ETF were guys who really loved this space but had had bad experiences Beer said The goal of the fund is to limit the manager specific risk that could come with investing in a traditional managed futures strategy and also simplify the diversification process for financial advisors Beer said It s like if you want emerging markets you don t want to pick a single stock You want the space Beer said The fund which was launched in 2019 also had positive returns in 2020 and 2021 It has a total expense ratio of 085 Beer said its weekly rebalancing and focus on only the largest most liquid futures contracts helps to keep transaction fees low | 0 |
St James s Place PLC reported Thursday a swing to a pretax loss for the first half of 2022 and said funds under management declined on the effects of reversals in global investment markets The FTSE 100 wealth management group posted a pretax loss for the period of 2984 million pounds 3627 million compared with a profit of GBP4826 million for the same period a year earlier Group funds under management as at June 30 decreased to GBP1423 billion from GBP1540 billion it said The board declared an interim dividend of 1559 pence a share up from 1155 pence Given current market conditions we now expect full year gross and net flows of around GBP18 billion and GBP11 billion respectively which would make 2022 our second highest ever year for flows and put the business even further ahead against our 2025 business plan objectives Chief Executive Andrew Croft said | 0 |
WELLINGTON New Zealand New Zealand s competition regulator said it had cleared a business combination for telecommunications companies 2Degrees and Vocus The regulator said Tuesday that the proposed acquisition is unlikely to substantially lessen combination in the retail or wholesale telecoms markets in New Zealand Under the proposed deal a New Zealand unit of Australia s Vocus Group will acquire Two Degrees Group Ltd which trades as 2Degrees from Trilogy International Partners Inc which owns 73 and Tesbrit BV Vodafone New Zealand Ltd majority owned by Infratil Ltd and Spark New Zealand Ltd are the main competitors of 2Degrees | 0 |
Cathie Wood’s ARK Investment Management LLC on Tuesday debuted the ARK Venture Fund the firm’s first foray into private investments The venture fund intends to invest in early to late stage private companies and publicly traded businesses similar to those held by ARK’s high growth technology focused exchange traded funds The ARK Venture Fund is available to US investors including individuals for a minimum initial investment of 500 on the online investment platform of financial technology startup Titan Venture capital funds traditionally limit access to accredited investors such as wealthy individuals or institutions Ms Wood and ARK rose to prominence during the Covid 19 pandemic when the firm’s ETFs posted huge returns as low interest rates and stimulus boosted investor appetite for riskier assets Those bets have struggled this year as the Federal Reserve raises interest rates at an aggressive clip to try to curb persistent inflation making unprofitable companies promising growth in the future a harder sell to investors The flagship ARK Innovation ETF is down 61 in 2022 yet has seen steady inflows this year ARK plans to also offer access to the venture fund to registered investment advisers family offices high net worth individuals and institutional investors through other distributors down the line according to Mr Friedrich The fund has a target portfolio composition of 70 private companies and 30 public companies Although traditional venture capital funds often look for exit opportunities such as initial public offerings or acquisitions ARK’s fund aims to continue holding portfolio companies after they enter public markets ARK declined to name its initial portfolio companies The ARK Venture Fund is an interval fund a vehicle that restricts withdrawals but gives investors access to more illiquid assets less likely to trade on financial markets ARK’s fund plans to offer quarterly redemptions capped at 5 of the fund’s net asset value according to Mr Friedrich The fund has a 275 management fee and anticipates distribution and other fees to total 147 in its first year of operation assuming average net assets of about 250 million during that period according to ARK Investors won’t pay an additional platform fee to Titan for the fund Interval funds in the US have an average management fee of 14 according to Morningstar Direct data tracking 72 funds ARK’s venture fund doesn’t have carried interest a share of profits paid out to the fund’s managers Venture capital funds traditionally have a fee structure of a 2 management fee and 20 carried interest An expanded version of this story appears on WSJcom | 0 |
SYDNEY Tabcorp Ltd aims to limit cost growth to 30 40 in its 2023 fiscal year despite inflationary pressures The Australian gambling firm on Wednesday reported a net profit for the 12 months through June of 678 billion Australian dollars US470 billion including a one off gain of A651 billion from its demerger from The Lottery Corp Ltd Revenue from continuing operations fell 43 to A237 billion and the directors declared a final dividend of 65 Australian cents a share Continuing operations earnings before interest tax depreciation and amortization fell 22 to A361 million on a proforma basis Tabcorp said that revenue for the first month of fiscal 2023 was up 15 on year which reflected the impact of Covid related restrictions in the prior period Tabcorp said it was negotiating with a preferred bidder for the sale of its eBet business It said cost savings skewed to the second half would limit cost growth in FY 2023 to 3 4 compared with fiscal 2022 proforma costs It flagged fiscal 2023 capital expenditure of up to A150 million plus depreciation and amortization of A250 million A260 million | 0 |
Hasbro’s strategy of betting on digital gaming and entertainment properties continues to drive growth but Wall Street is wary as the toymaker’s competitors step up their game Despite beating expectations for revenue and earnings and announcing a 3 increase in its quarterly dividend when it reported its fourth quarter results today Hasbro didn’t wow Wall Street The stock was up close to 2 in pre market trading but those gains were lost as the opening bell neared The stock opened at 9263 down 137 and continued falling as the analyst call continued The stock was down more than 3 at 9094 as the conference all ended It was at 9134 down 275 mid morning Hasbro warned that inventory and shipping costs would be a headwind in the first quarter of this year The recent snub by the Disney Princesses property which has moved its licensing rights to Mattel was a blow for Hasbro and a signal that the competition is heating up Hasbro executives however said they are confident their brand blueprint put in place by visionary CEO Brian Goldner who died in October positions them well to out play those competitors Some of the plays Hasbro is banking on to drive growth include an animated series release for its role playing property Magic the Gathering and a Dungeons and Draqgon feature film and expansion of its remaining Disney properties including Star Wars and Marvel properties and the licensing rights to a upcoming Indiana Jones movie The results for the fourth quarter again show the wisdom of Goldner’s moves to reposition Hasbro as an entertainment and gaming player The company’s entertainment and digital gaming divisions drove growth during the quarter with entertainment up 54 and the Wizards of the Coast and digital gaming division up 18 Net revenues for the company were up 17 at 201 billion for the quarter Revenues for the full year also rose 17 to hit 642 billion Adjusted earnings were 121 per share easily beating analysts estimates thanks to price increases that offset hikes in supply chain costs Chris Cocks who will become Hasbro’s CEO on Feb 25 led off the earning conference call with analysts saying in opening remarks that he was thrilled to be taking over leadership of the company Cocks said one of his top priorities going foward will be “multigenerational” engagement with game players “Play isn’t just for kids anymore” he said “It’s a lifelong pursuit” he said noting that Gen Z millennial and Gen X consumer are responsing to the “omnimedia” universe of gaming Hasbro is creating Rich Stoddart the Hasbro board member who has served as interim CEO since the death of Brian Goldner in October then discussed the fourth quarter results and led the question and answer discussion with analysts Chief Financial Officer Deborah Thomas addressed the impact of the loss of the Disney Princess licensing deal saying that revenues from that license peaked in 2019 the year the last Frozen movie was released Revenues from those licensed properties averaged 250 million annually over the term of the licensing agreement Thomas said “We are very excited about our continuing relationship with Disney for Marvel Star Wars and Indiana Jones and the product offerings aroudn these brands” Thomas said Thomas said she has seen an exciting line of Hasbro products in development for the 2023 Indiana Jones movie release | 0 |
This article was originally published on The Cannabis Community and appears here with permission From cancer to Tourette syndrome TS marijuana is proving to be an effective treatment for a variety of chronic health disorders As a result medical marijuana is currently allowed in 38 states including DC with qualifying patients receivingstate issued medical marijuana cardsbased on a doctor’s recommendation Despite its widespread use medical marijuana legislation and the ramifications of obtaining a medical marijuana license are frequently misunderstood Marijuana is still illegal under federal law This means that anyone who discloses information about their marijuana use could be subject to prosecution Patients expect their medical marijuana records to be kept confidential just like any other medical data to protect their personal information and medical history Luckily there are steps you can take to protect your personal information In this article we will discuss who can access your medical marijuana records and how you can keep them private Is My Medical Marijuana Record Protected Yes You can trust that your medical information will be protected thanks to HIPAA regulations TheHealth Insurance Portability and Accountability Act HIPAAis a law that includes security and data privacy provisions in order to protect patients’ healthcare related and medical information in the United States HIPAA is a federal law signed by President Bill Clinton on Aug 21 1996 which mandated the adoption of national standards toprevent sensitive patient health information from being revealedwithout the patient’s consent or knowledge HIPAA has two main goals offer continuous health insurance coverage for employees who leave or change jobs lower healthcare costs by standardizing the electronic transmission of administrative and financial activities Combating misuse fraud and waste in health insurance and healthcare delivery as well as enhancing access to long term care services and health insurance are among the other objectives The HIPAA Privacy Rule TheHIPAA Privacy Ruleis the first national policy in the US to secure patients’ personal or protected health information It aims to preserve patients’ privacy by requiring doctors to submit a list of all entities to whom they disclose patient informationfor billing and administrative purposes while still allowing necessary health information to flow via the proper channels The Privacy Rule is applied to the following individuals and organizations which are deemed covered entities Healthcare Providers– Every healthcare professional regardless of practice size who electronically communicates health information in connection with specific transactions Health Plans– Organizations that offer or pay for medical treatment Healthcare Clearinghouses– Entities that convert nonstandard information received from another entity into a standard or data content or vice versa Examples include a billing service repricing company and community health management information system Business Associates– A person or organization who performs or provides activities or services for a covered entity by using or disclosing personal identifiable health information The Privacy Rule also protects people’s rights to know and choose how their health information is used The primary goal of the Privacy Rule is to guarantee that individuals’ health information is effectively protected while allowing the flow of health information required to deliver and promote high quality treatment and maintain the public’s health and wellbeing Is a Medical Cannabis Card Viewed in a Background Check No it is notBackground checks will not reveal that you were granted a medical marijuana card HIPAA still protects this information because technically your state issued card can only be obtained with a doctor’s medical recommendation Though HIPAA may keep the status of your consumption private it’s vital to note that the state issued card is not Despite this state officials are not permitted to obtain or transmit that information to employers There is no way to access the data without permission and your personal information such as your social security number is not included That means that when you go to a dispensary they can only check to see if your card is genuine they can’t view anything more about your health or personal information Is a Medical Marijuana Card Included in a Federal Background Check Technically simply having a medical marijuana card will not appear on a federal background check However this does not rule out the possibility of your marijuana use being detected Your criminal record will show up in a federal background check so if you’ve been convicted of marijuana possession even if you were using it for medical reasons you may find it difficult to obtain work While a medical cannabis card will not appear on a federal background check if you’ve had any run ins with the law related to marijuana usage andor possession even if it was medical you may still face issues if your criminal background check is run Keep in mind that federal and state laws are very different Marijuana is still prohibited in the United States As a result federal government employees are required to follow federal regulations Because federal regulations oversee drug free workplace policies a federal contractor may conduct a drug test on the job If they do there could be legal implications for you Can Employers Access Medical Marijuana Records No they can’tYour employer will never be able to acquire access to that type of sensitive information Nor will it be accessible to a future landlord nor a bank lender Even if you utilize the company’s doctor and the information is revealed in your medical report the doctor is not allowed to share the information with your employer Your information is secure but it’s up to you to exercise caution and keep your cannabis use hidden if you’re nervous about your current or future employers discovering it Cannabis Laws on Employment Medical marijuana laws currently exist in around three fourths of states allowing those with significant medical ailments to consume marijuana with a doctor’s permission However just because marijuana is legal in many places does not mean it is permitted in the workplace Employers can terminate punish or take other disciplinary action against an employee who uses marijuana at work or shows up to work while under the influence of marijuana in most states even if the individual requires it to cure a medical condition Several states have laws prohibiting employers from discriminating against medicinal marijuana cardholders or terminating employees who test positive for marijuana on the job Some of these states additionally require employers to fairly accommodate an employee who requires medicinal marijuana to treat a medical condition such as enabling an employee to start work later in the morning because she uses medical marijuana to treat glaucoma at night Most states that have legalized medical or recreational marijuana leave testing decisions at the discretion of the individual employer According tothe National Conference of State Legislators NCSL employers can’t take medical cannabis use or positive drug test results into account when making hiring and firing decisions provided that employees do not bring their medical cannabis to work are not working in a job that could cause serious harm to others or are not working in a federally related position Ways to Protect Your Personal Health Information Medical Cannabis Cards Shouldn’t Include Your Personal Information Personal information such as your name address or social security number should not be included in a state’s medical cannabis card application system It does however provide a unique user ID number as well as information on the card’s validity The medical cannabis card should only include the issue and expiration dates a passport style photo your number and the name of the state Obtain a Copy of Your Medical Records You have the right to a copy of your medical records at any time under HIPAA Examine your records once you’ve received them You can learn what information is contained in your medical records by reviewing them This is also a good time to double check the accuracy of your medical records which is important for future care Be Discreet Even in states where cannabis is recreationally allowed you can’t flaunt your use because it’s federally outlawed Most employers will run a fast search engine query to learn more about you before conducting a background check It’s common sense not to advertise your marijuana use on social media for example This means no photos of you smoking blunt or discussing marijuana on social media sites like Facebook or Twitter Visit a Dispensary That Is Far From Your Workplace Otherwise you risk being seen entering a dispensary by a company employee A growing number of consumers are winning lawsuits against businesses that discriminate against their medical marijuana use If you like it that way you could have a case but don’t bank on it Do Your Own Background Check With so many trustworthy online background check services available it’s never been easier to be ahead of your employer by conducting your background assessment Periodic personal background checks will also keep your personal and professional public profiles up to date Stay Informed Be aware even if medicinal marijuana is legal in many jurisdictions and several states are still taking steps toward decriminalization While your health data will be padlocked from anyone on the outside looking in it is your job as a cannabis consumer to keep your consumption hidden Use prudence common sense and remain up to date on your state’s legislative changes Nuestro contenido en Español Invertir en Cannabis Todo lo que Hay Que Saber Tesla Stock Todo Sobre las Acciones de TSLA Canopy Growth Noticias e Información sobre las Acciones de CGC | 0 |
Someone with a lot of money to spend has taken a bearish stance on Salesforce NYSECRMAnd retail traders should knowWe noticed this today when the big position showed up on publicly available options history that we track here at BenzingaWhether this is an institution or just a wealthy individual we don t know But when something this big happens with CRM it often means somebody knows something is about to happenSo how do we know what this whale just did Today Benzinga s options scanner spotted 10 uncommon options trades for SalesforceThis isn t normalThe overall sentiment of these big money traders is split between 20 bullish and 80 bearishOut of all of the special options we uncovered 6 are puts for a total amount of 331141 and 4 are calls for a total amount of 253734What s The Price TargetTaking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 1450 to 2600 for Salesforce over the last 3 months Volume Open Interest DevelopmentLooking at the volume and open interest is an insightful way to conduct due diligence on a stockThis data can help you track the liquidity and interest for Salesforce s options for a given strike priceBelow we can observe the evolution of the volume and open interest of calls and puts respectively for all of Salesforce s whale activity within a strike price range from 1450 to 2600 in the last 30 days Salesforce Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted SymbolPUTCALLTrade TypeSentimentExp DateStrike PriceTotal Trade PriceOpen InterestVolume CRMCALLTRADEBEARISH01192421000930K57364 CRMCALLTRADEBEARISH12162216000915K11K84 CRMPUTTRADEBEARISH11042216250819K102212 CRMPUTTRADEBEARISH12162214500622K24K176 CRMPUTTRADEBEARISH11042216000620K253212 Where Is Salesforce Standing Right Now With a volume of 2039820 the price of CRM is up 036 at 16048 RSI indicators hint that the underlying stock may be approaching overboughtNext earnings are expected to be released in 33 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closelyIf you want to stay updated on the latest options trades for Salesforce Benzinga Pro gives you real time options trades alerts | 0 |
A new report warned that cannabis growers have no access to federal bankruptcy protection thue undermining the industry’s potential This is because marijuana is still classified by federal law as an illicit substance According to the Cannabis Law Journal the fact that cannabis remains a Schedule 1 drug allows the Controlled Substance Act CSA to block bankruptcy relief to businesses that sell the product acting as “the boogeyman of bankruptcy jurisprudence” stated the report written by Travis Stewart a law student at the University of Nevada Las Vegas As long as the plant remains illegal at the federal level cannabis related debtors CDRs cannot receive bankruptcy relief resulting in totally disparate treatment of them However the incipient legal weed industry has become a powerful economic driver in many states Since August 2022 almost 20 states and DC have passed legislation allowing personal possession and consumption of marijuana Cannabis Related Debtors Should Be Protected By Law Like Others Creditors and debtors have far different terms of their agreements because the creditors’ ability to bargain is constrained by federal ban noted The Crime Report which argues this violates Constitutional protections enshrined in Article I Section 8 Clause 4 of the Constitution which grants Congress the power “to establish … uniform Laws on the subject of Bankruptcies throughout the United States” Additionally the report stated that the CSA s ban on debtors seeking bankruptcy relief changes the relationship between them and their creditors “ Cannabis debtors and their creditors would be better served if both the US Trustee and bankruptcy courts treated them like any other business that files for bankruptcy” The easiest solution but unlikely given the political hurdles is to remove cannabis as a Schedule 1 substance Nevertheless the author said it should be regarded as an economic priority “As of 2022 approximately 428000 jobs are supported by the cannabis industry in the United States If Congress legalizes cannabis federally this jobs figure could be as high as 175 million” reads Stewart s report “Even without federal legalization the number of Americans relying on the cannabis industry for economic well being is too large to continue CRD’s pariah like treatment within Bankruptcy” Finally Stewart recommended in the report that marijuana debtors should establish more than one income stream “A diversified income stream may be CRDs best path to successfully achieve plan confirmation until cannabis is federally decriminalized | 0 |
Shares of Pfizer Inc NYSEPFE rose by 569 in the past three months Before having a look at the importance of debt let s look at how much debt Pfizer has Pfizer Debt According to the Pfizer s most recent financial statement as reported on November 9 2022 total debt is at 3667 billion with 3263 billion in long term debt and 404 billion in current debt Adjusting for 130 billion in cash equivalents the company has a net debt of 3537 billion Let s define some of the terms we used in the paragraph above Current debt is the portion of a company s debt which is due within 1 year while long term debt is the portion due in more than 1 year Cash equivalents includes cash and any liquid securities with maturity periods of 90 days or less Total debt equals current debt plus long term debt minus cash equivalents To understand the degree of financial leverage a company has investors look at the debt ratio Considering Pfizer s 19535 billion in total assets the debt ratio is at 019 As a rule of thumb a debt ratio more than 1 indicates that a considerable portion of debt is funded by assets A higher debt ratio can also imply that the company might be putting itself at risk for default if interest rates were to increase However debt ratios vary widely across different industries A debt ratio of 25 might be higher for one industry but average for another Why Investors Look At Debt Debt is an important factor in the capital structure of a company and can help it attain growth Debt usually has a relatively lower financing cost than equity which makes it an attractive option for executives However due to interest payment obligations cash flow of a company can be impacted Having financial leverage also allows companies to use additional capital for business operations allowing equity owners to retain excess profit generated by the debt capital Looking for stocks with low debt to equity ratios Check out Benzinga Pro a market research platform which provides investors with near instantaneous access to dozens of stock metrics including debt to equity ratio Click here to learn more This article was generated by Benzinga s automated content engine and reviewed by an editor | 0 |
Someone with a lot of money to spend has taken a bullish stance on Danaher NYSEDHR And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with DHR it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 10 uncommon options trades for Danaher This isn t normal The overall sentiment of these big money traders is split between 50 bullish and 50 bearish Out of all of the special options we uncovered 2 are puts for a total amount of 90125 and 8 are calls for a total amount of 678596 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 1950 to 2600 for Danaher over the last 3 months Volume Open Interest Development In terms of liquidity and interest the mean open interest for Danaher options trades today is 14657 with a total volume of 67000 In the following chart we are able to follow the development of volume and open interest of call and put options for Danaher s big money trades within a strike price range of 1950 to 2600 over the last 30 days Danaher Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume DHR CALL TRADE BEARISH 081823 24000 1550K 621 10 DHR CALL TRADE BEARISH 062124 19500 1096K 0 45 DHR CALL TRADE BULLISH 062124 19500 1090K 0 15 DHR CALL TRADE BULLISH 062124 19500 1089K 0 30 DHR CALL TRADE BEARISH 062124 20000 1029K 2 0 Where Is Danaher Standing Right Now With a volume of 2737580 the price of DHR is up 386 at 25381 RSI indicators hint that the underlying stock is currently neutral between overbought and oversold Next earnings are expected to be released in 4 days What The Experts Say On Danaher Raymond James downgraded its action to Outperform with a price target of 270 Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Danaher Benzinga Pro gives you real time options trades alerts | 0 |
Italy s ITA Airways said Monday that it has received an expression of interest from Deutsche Lufthansa AG and shipping company MSC Group for the acquisition of a majority stake The national carrier said the partners have requested a 90 day exclusivity period to work on the expression of interest They also said they would want the Italian government to keep a minority stake in the company | 0 |
Finance chiefs continue to reorder their priority lists two years into the pandemic responding to rapid changes in consumer spending ongoing supply chain disruptions and new sustainability reporting requirements Chief financial officers discussed these and other challenges during The Wall Street Journal’s virtual CFO Network Summit The event hosted on Tuesday took place as companies weigh the prospect of an economic downturn and keep a close watch on the Federal Reserve’s interest rate policy Attendees from many industries discussed their outlook for the remainder of the year covering a range of issues including the impact of pandemic lockdown measures in China and the cost of environmental social and governance disclosures Here is an overview of what they said Use 2019 as a guide for future consumer buying habits Visa CFO says Retail finance chiefs looking to get a handle on what consumer spending will look like in the months ahead should look back to prepandemic trends as a guide Visa Inc Chief Financial Officer Vasant Prabhu said Major retailers including Macy’s Inc Target Corp and Gap Inc in recent weeks have said that they were caught off guard by a rapid change in consumer preferences as people pulled back on popular pandemic purchases such as home goods and casual clothing Consumers—particularly affluent ones—are spending more on dining travel and other types of services that they put off early on during the pandemic Mr Prabhu said “We’re seeing a great amount of enthusiasm on the part of affluent consumers to go out and spend money on things they couldn’t do before” he said Buying inventory based on the demand patterns of the past two years could lead companies to order too much of an item or order the wrong things Mr Prabhu said Looking instead at trends that occurred before the pandemic likely provides a better model for what lies ahead he said “It has helped us a lot to look at it that way It’s been a better way to predict the future” he said Diversify and build safety stock to prepare for supply chain disruptions Intel CFO says Intel Corp is carrying more inventory on its books and is looking to further diversify its supply chain to weather shocks in the supply of its raw materials and components CFO David Zinsner said The Santa Clara Calif based chip maker had 119 billion in inventory on its balance sheet as of April 2 up 11 from the end of 2021 according to its latest quarterly earnings report Intel has struggled to get the components it needs due to pandemic closures in Asia Mr Zinsner said Russia’s war in Ukraine has been less of an issue he said “but obviously another major reason why you want to be more diversified” Companies across industries have faced shipping difficulties and component shortages in recent months due a monthslong lockdown in Shanghai While restrictions in the city have been lifted shutdowns remain a continuing threat to companies with production facilities in the region Kenny Wagers finance chief at freight technology company Flexport Inc said at the summit “The next two to four weeks will really be telling” Mr Wagers said referring to whether transportation from production facilities to warehouses will become more reliable Companies may find unexpected savings by investing in ESG reporting Finance teams have begun testing technology and adding personnel as they prepare to comply with potential climate change disclosure requirements from the Securities and Exchange Commission Gathering some of that data and then reporting it may be new territory for some companies and will likely generate adoption costs said Peggy Smyth a director at e commerce company Etsy Inc and the former US CFO of National Grid PLC a gas and electricity utility Businesses could also see benefits—for example by finding inefficiencies in their operations Ms Smyth said “Companies might say ‘You know this doesn’t really make sense and we never really thought about it and maybe we should look at something differently’” Asked about the costs associated with disclosing additional environmental social and governance data Janine Guillot chief executive of the Value Reporting Foundation—a nonprofit focused on corporate reporting—said sustainability reporting can generate savings by establishing a common language for companies and investors “I actually think standards are an efficiency improver because the current situation serves no one” Ms Guillot said The Value Reporting Foundation which sets industry specific sustainability accounting standards that many global companies use in their ESG reporting last year said it would merge with the International Sustainability Standards Board a group launched in November by the foundation that oversees the International Accounting Standards Board The board aims to reduce fragmentation in global ESG standards and reduce greenwashing ISSB Chairman Emmanuel Faber said The ISSB has “work to do” to enhance its global disclosure frameworks after it completes its merger with the Value Reporting Foundation on June 30 Mr Faber said | 0 |
This article was originally published on The Fresh Toast and appears here with permission However you do it have a great time with your friends and remember it is all about being together with those you chose this Thanksgiving Friendsgiving season is officially upon us The trend first surfaced in the mid 2000s when people began reimagining a traditional meal without family but with friends What’s a Friendsgiving feast these days without some marijuana Unlike the family events that require you to “forget something in your car” with your favorite cousin at Friendsgiving in states where cannabis is recreationally legal you can celebrate freely with your friends Here are some tips Infuse Your Feast Introducing weed to your meal is easy since so much of the flavor and THC is fat soluble the butter heavy meal is a great way to infuse cannabis if you want a group experience While infused butter is an easy go to for guests to make any dish 420 friendly you might want to consider exempting main courses due to people overindulging You can do a smaller version so people can do a taste test And new innovations like theStündenglass Gravity Infusertruly puts on a show with a futuristic 360 degree gravity system andtray clochethat adds a cooled flavorful smoke to anything from gravy to some drumsticks The easiest option is the dessert course If you really want to think outside of the boxHighOnLove’s Dark Chocolate Body Paintdoesn’t have to be reserved for the bedroom Mom won’t be around to stop you from playing with your food at this dinner table so why not have a little fun The body paint comes with a tiny paint brush you can use to create your own hemp or THC infused edible masterpiece Apple cider donuts pecan pie strawberries whatever you have out for your sweet tooth friends could pair with this delectable chocolate The hemp infused version is available online while the THC infused Body Paint is available for Colorado locals Seasonal Accessories If infusing the feast isn’t your jam festive glass pieces that double as functional pieces of art could add a touch of whimsy and can provide a conversation topic To keep the vibes merry and high with your favorite flower guests can puff onCannaStyle’s Bread Bowlin between servings or sip out of the top of one of theirPSL Bongs Remember you normally won’t share wine glasses and the same idea applies when sharing pipes and joints So whenever you do share a joint across the table or take a puff from a friend’s bong Moose Labs’MouthPeace or MouthPeace Minihas made it post Covid safe MouthPeaces give you the freedom to share pipes rigs joints blunts e cigs and vapes without sharing germs Cooking Tips to Keep You Sane Chef Justin Khannahas worked in some of the top restaurants in the world and now advises food tech startups hosts pop up dinners and publishes educational content Here he offers some basic tips for your feast Don’t get overwhelmed Making a prep list is the easiest way to avoid feeling scattered Think about it this is probably one of the biggest meals of your year you should treat it differently than a standard dinner party with friends Making a quick checklist of the dishes you’re preparing can help make sure components don’t go missing and also give you a great sense of how to answer when your guests come over and ask “what can I help with” Don’t go it alone Speaking of asking for help this ends up being a huge win of having your friends be your guests It’s not about grandma making the entire meal that was my Thanksgiving tradition so spread the load Ask folks what they’re comfortable making or bringing and use that opportunity to build out the meal It’s way easier to know that someone else has the turkey covered and you can use your oven for other projects throughout the day Don’t forget snacks Let’s face it your guests are going to arrive hungry This doesn’t have to be anything elaborate but offering some nibbles on arrival can be a phenomenal way to give yourself “buffer time” on serving the big meal Considering folks probably want to catch up or get to know one another on a first meet offer up a charcuterie or butter board crudités and dips or even a baked cheese appetizer as a way to let everyone settle in without getting hangry However you do it have a great time with your friends and remember it is all about being together with those you chose this Thanksgiving | 0 |
US stocks are down for the month as “cracks” appear in financial conditions amid heightened anxiety that the Federal Reserve will trigger a recession in its battle with high inflation “Stressed households are running out of resources” said Paul Christopher head of global market strategy at Wells Fargo Investment Institute in a note Tuesday “Even beyond limited savings and credit falling equity market prices limit households’ ability and willingness to convert paper profits into cash” Stocks have been slumping since Fed Chair Jerome Powell on Friday sent a clear message during his Jackson Hole speech that he was resolved to keep raising interest rates in an effort to bring inflation under control Curbing the soaring cost of living will bring pain to households and businesses Powell warned “Among the 11 SP 500 Index sectors only financials and energy have increased their free cash flow since the beginning of this year” said Christopher US stocks were falling sharply Tuesday afternoon as investors assessed data showing the labor market remained strong sparking fears that the Fed may need to be more aggressive in cooling the economy in its effort to tame high inflation The Dow Jones Industrial Average DJIA was down 1 while the SP 500 SPX fell 12 and the Nasdaq Composite COMP dropped 14 according to FactSet data at last check Job openings in the US rose to 112 million in July the Labor Department said Tuesday morning That marked the first increase in four months while the number of people quitting remained high even as it edged down to 42 million in July See Job openings climb to 112 million and show US labor market still going strong “The labor market remains a bright spot for the economy but is usually one of the last indicators to turn negative” said Christopher Meanwhile economic data released earlier Tuesday morning pointed to a cooling housing market in the US as SP Dow Jones Indices announced its SP CoreLogic Case Shiller 20 city index showed that home price growth slowed in June to a year over year gain of 186 from 205 the month before Seattle San Francisco and San Diego led the slowdown “For the US we still expect a moderate recession through the middle of 2023” said Christopher “The airports and the roads were full of people over the summer but below the bustle the economy is still slowing” Weekly earnings growth is falling after adjusting for inflation according to his note “Savings rates have dropped to prepandemic levels and inflation adjusted credit card debt was at a 16 year high in June” he said “The credit card delinquency rate for June climbed for the first time since December 2020” Christopher also sees “cracks” appearing in financial market liquidity citing “some signs of strain” in high yield and investment grade bonds even as the functioning of the corporate bond market appears “healthy” The US stock market is down so far in August with Powell’s Jackson Hole Aug 26 speech wiping out this month’s gains The SP 500 has dropped around 36 so far in August and was trading around 3981 on Tuesday afternoon FactSet data show at last check Wells Fargo Investment Institute is still expecting the SP 500 to end this year in the range of 3800 to 4000 and it has a 2023 price target of 4300 to 4500 according to the note “Our single and consistent message since early 2022 has been to play defense in portfolios which practically means making patience and quality the daily watchword” Christopher said | 0 |
A whale with a lot of money to spend has taken a noticeably bullish stance on Tenet Healthcare Looking at options history for Tenet Healthcare THC we detected 12 strange trades If we consider the specifics of each trade it is accurate to state that 58 of the investors opened trades with bullish expectations and 41 with bearish From the overall spotted trades 7 are puts for a total amount of 434330 and 5 calls for a total amount of 199465 Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 350 to 500 for Tenet Healthcare over the last 3 months Looking at the volume and open interest is a powerful move while trading options This data can help you track the liquidity and interest for Tenet Healthcare s options for a given strike price Below we can observe the evolution of the volume and open interest of calls and puts respectively for all of Tenet Healthcare s whale trades within a strike price range from 350 to 500 in the last 30 days Tenet Healthcare Option Volume And Open Interest Over Last 30 Days Where Is Tenet Healthcare Standing Right Now With a volume of 11674656 the price of THC is down 311 at 3742 RSI indicators hint that the underlying stock may be oversold Next earnings are expected to be released in 108 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for Tenet Healthcare Benzinga Pro gives you real time options trades alerts | 0 |
Someone with a lot of money to spend has taken a bullish stance on NVIDIA NASDAQNVDA And retail traders should know We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga Whether this is an institution or just a wealthy individual we don t know But when something this big happens with NVDA it often means somebody knows something is about to happen So how do we know what this whale just did Today Benzinga s options scanner spotted 31 uncommon options trades for NVIDIA This isn t normal The overall sentiment of these big money traders is split between 51 bullish and 48 bearish Out of all of the special options we uncovered 6 are puts for a total amount of 295695 and 25 are calls for a total amount of 2376393 What s The Price Target Taking into account the Volume and Open Interest on these contracts it appears that whales have been targeting a price range from 1800 to 3000 for NVIDIA over the last 3 months Volume Open Interest Development In terms of liquidity and interest the mean open interest for NVIDIA options trades today is 526027 with a total volume of 11481200 In the following chart we are able to follow the development of volume and open interest of call and put options for NVIDIA s big money trades within a strike price range of 1800 to 3000 over the last 30 days NVIDIA Option Volume And Open Interest Over Last 30 Days Biggest Options Spotted Symbol PUTCALL Trade Type Sentiment Exp Date Strike Price Total Trade Price Open Interest Volume NVDA CALL TRADE NEUTRAL 011924 27000 5500K 30K 203 NVDA CALL TRADE BULLISH 091523 23500 4725K 19K 0 NVDA CALL SWEEP BULLISH 050523 29000 2114K 112K 52K NVDA CALL TRADE BEARISH 051923 27250 1468K 869 0 NVDA CALL SWEEP BULLISH 050523 28500 879K 59K 101K Where Is NVIDIA Standing Right Now With a volume of 578612 the price of NVDA is up 037 at 27852 RSI indicators hint that the underlying stock may be approaching overbought Next earnings are expected to be released in 23 days Options are a riskier asset compared to just trading the stock but they have higher profit potential Serious options traders manage this risk by educating themselves daily scaling in and out of trades following more than one indicator and following the markets closely If you want to stay updated on the latest options trades for NVIDIA Benzinga Pro gives you real time options trades alerts | 0 |
Gainers SenesTech Inc NASDAQSNES shares rose 658 to 03847 in pre market trading after declining over 3 on Tuesday Zovio Inc NASDAQZVO rose 382 to 02765 in pre market trading after jumping around 39 on Tuesday Kintara Therapeutics Inc NASDAQKTRA rose 37 to 01371 in pre market trading after gaining over 6 on Tuesday Kintara Therapeutics recently posted a Q4 loss of 052 per share First High School Education Group Co Ltd NYSEFHS shares rose 295 to 070 in pre market trading First High School Education Group last month reported H1 sales of 316 million up 209 from a year ago Scopus BioPharma Inc NASDAQSCPS rose 25 to 03068 in pre market trading Scopus Biopharma completed recapitalization designed to enhance shareholder value Agrify Corporation NASDAQAGFY rose 226 to 543 in pre market trading after dipping around 59 on Tuesday Agrify announced a 1 for 10 reverse stock split effective Tuesday Oct 18 2022 Pear Therapeutics Inc NASDAQPEAR rose 174 to 288 in pre market trading Pear Therapeutics during August reported its Q2 financial results Sintx Technologies Inc NASDAQSINT rose 17 to 01720 in pre market trading SINTX Technologies recently announced subscriptions of 47 million from its rights offering COMSovereign Holding Corp NASDAQCOMS shares rose 164 to 01391 in pre market trading after jumping 170 on Tuesday Netflix Inc NASDAQNFLX rose 13 to 27210 in pre market trading after the company reported better than expected Q3 results and reported global streaming paid net additions of 241 million Global streaming paid memberships grew 45 year over year Intuitive Surgical Inc NASDAQISRG shares rose 107 to 21470 in pre market trading as the company reported better than expected third quarter adjusted EPS and sales results Vaccitech plc NASDAQVACC rose 105 to 316 in pre market trading Vaccitech promoted Gemma Brown as Chief Financial Officer Oblong Inc NASDAQOBLG rose 105 to 04971 in pre market trading after gaining 25 on Tuesday Ensysce Biosciences Inc NASDAQENSC rose 97 to 026 in pre market trading Ensysce Biosciences last month announced initiation of second human abuse potential study being conducted by Dr Vince Clinical Research Novo Integrated Sciences Inc NASDAQNVOS rose 84 to 032 in pre market trading Novo Integrated Sciences last week priced its public offering of 4 million units at 050 per unit United Airlines Holdings Inc NASDAQUAL rose 67 to 3975 in pre market trading after the company reported better than expected Q3 results ASML Holding NV NASDAQASML rose 64 to 42466 in pre market trading after reporting upbeat quarterly sales Don’t forget to check out our premarket coverage here Losers Olaplex Holdings Inc NASDAQOLPX shares fell 422 to 566 in pre market trading after the company lowered its FY 2022 guidance Rubicon Technologies Inc NASDAQRBT shares fell 121 to 153 in pre market trading after jumping 58 on Tuesday Kala Pharmaceuticals Inc NASDAQKALA fell 121 to 02355 in pre market trading after gaining around 8 on Tuesday Kala Pharmaceuticals during August posted a Q2 loss of 038 per share Crown ElectroKinetics Corp NASDAQCRKN fell 98 to 02901 in pre market trading after surging over 9 on Tuesday Fast Radius Inc NASDAQFSRD shares fell 93 to 03736 in pre market trading Quanergy Systems Inc NYSEQNGY fell 92 to 128 in pre market trading after dipping 16 on Tuesday Quanergy Systems recently announced a restructuring plan including an 11 staff reduction Orchard Therapeutics plc NASDAQORTX fell 89 to 041 in pre market trading after declining over 4 on Tuesday Zepp Health Corporation NYSEZEPP shares fell 88 to 124 in pre market trading Zepp Health during August posted a Q2 loss of 026 per share Generac Holdings Inc NYSEGNRC fell 84 to 13500 in pre market trading Generac Hldgs posted Q3 preliminary EPS of 175 down from 235 in the year ago period Eqonex Limited NASDAQEQOS shares fell 67 to 03288 in pre market trading after jumping 35 on Tuesday | 0 |
US stocks traded higher midway through trading with the Nasdaq Composite gaining around 150 points on Friday The Dow traded up 059 to 3319708 while the NASDAQ rose 132 to 1161460 The SP 500 also rose gaining 092 to 401784 Check This Out Top 5 Real Estate Stocks That Are Set To Fly In Marchh Leading and Lagging Sectors Communication services shares rose 18 on Friday Meanwhile top gainers in the sector included iHuman Inc NYSEIH up 10 and Integral Ad Science Holding Corp NASDAQIAS up 10 In trading on Friday consumer staples shares fell by 02 Top Headline The ISM Services PMI fell to 551 in February from 552 in January but came in above expectations of 545 Equities Trading UP Altamira Therapeutics Ltd NASDAQCYTO shares shot up 35 to 317 after the company said data from a recent peer reviewed clinical study demonstrated Bentrio s superior nasal residence time and rheological properties Shares of Ardelyx Inc NASDAQARDX got a boost shooting 35 to 390 after the company reported better than expected Q4 sales results Seer Inc NASDAQSEER shares were also up gaining 38 to 581 after the company reported better than expected Q4 EPS and sales results Equities Trading DOWN Praxis Precision Medicines Inc NASDAQPRAX shares tumbled 65 to 102 after the company announced topline results from the Essential1 study evaluating the efficacy safety and tolerability of ulixacaltamide PRAX 944 for essential tremor ET Shares of Veru Inc NASDAQVERU were down 39 to 22950 after the FDA declined to grant the company s request for Emergency Use Authorization for sabizabulin NeuroPace Inc NASDAQNPCE was down falling 22 to 33150 after the company reported Q4 financial results Also Check This Out Bitcoin Falls Below This Key Level Conflux Becomes Top Loser Commodities In commodity news oil traded up 13 to 7918 while gold traded up 07 at 185270 Silver traded up 13 to 2117 on Friday while copper rose 04 to 40920 Euro zone European shares were higher today The eurozone’s STOXX 600 rose 092 London’s FTSE 100 gained 004 while Spain’s IBEX 35 Index rose 147 The German DAX gained 164 French CAC 40 rose 088 and Italy’s FTSE MIB Index gained 156 The SP Global Eurozone services PMI fell to 527 in February versus a preliminary reading of 530 German services PMI was revised lower to 509 in February compared to a preliminary estimate of 513 while French services PMI was revised higher to 531 in February from a flash reading of 528 Italy’s GDP shrank by 01 quarter over quarter during the three months leading to December The SP Global Italy services PMI increased to 516 in February versus 512 a month ago Spain services PMI climbed to 567 in February versus 527 in the prior month Asia Pacific Markets Asian markets closed higher on Friday with Japan’s Nikkei 225 gaining 156 Hong Kong’s Hang Seng Index rising 068 and China’s Shanghai Composite Index gaining 054 India’s SP BSE Sensex climbed 18 The SP Global Indian services PMI climbed to a 12 year high level of 594 in February while Caixin China general services PMI rose to 550 in February from 529 in the prior month The SP Global Hong Kong PMI climbed to 539 in February versus 512 in January while Japanese services PMI was revised higher to 540 during February Economics The SP Global Services PMI rose to 506 in February from a preliminary reading of 505 and compared to January s level of 468 The SP Global Composite PMI slipped to 501 in February versus from a preliminary reading of 502 The ISM Services PMI fell to 551 in February from 552 in January but came in above expectations of 545 Now Read This httpswwwbenzingacomnews230331192039insiders selling sunrun applied materials and 2 other stocks COVID 19 Update The US has the highest number of coronavirus cases and deaths in the world reporting a total of 105384010 cases with around 1146630 deaths India confirmed a total of at least 44687160 cases and 530770 deaths while France reported over 39630950 COVID 19 cases with 165000 deaths In total there were at least 680386210 cases of COVID 19 worldwide with more than 6803050 deaths | 0 |
A Russian rouble banknote is seen placed on US dollar banknotes in this illustration taken March 1 2022 REUTERSDado RuvicIllustration May 23 Reuters Russia is cutting the proportion of foreign currency revenues that exporters must convert into roubles to 50 from 80 the finance ministry said on Monday after the policy contributed to steep gains in the local currency Despite an economic crisis prompted by the conflict in Ukraine the rouble has surged about 30 against the dollar this year and on Monday hit a near seven year high against the euro That has raised concerns the strong currency could hurt Russia s budget revenues from exports read more The finance ministry said a government commission had decided to lower the proportion of revenues that exporter focused companies must convert into roubles This is linked to the stabilisation of the rouble rate and reaching a sufficient level of foreign currency liquidity on the domestic currency market the ministry said Russia introduced the mandatory foreign currency conversion in late February after Western sanctions imposed in response to what Russia calls its special military operation in Ukraine froze nearly half of the country s reserves and deprived the central bank of ability to intervene in the currency market Since then the rouble has been boosted by demand from exporters while there has been limited demand for dollars and euros from importers due to disrupted supply chains Retail demand for foreign currency has also been held back by restrictions on money withdrawals from bank accounts and on cross border transactions | 0 |
US stock futures traded higher this morning Here are some big stocks recording losses in today’s pre market trading session Moolec Science SA NASDAQMLEC shares dropped 284 to 1378 in pre market trading after jumping 258 on Friday Mullen Automotive Inc NASDAQMULN shares declined 64 to 03533 in pre market trading after declining around 10 on Friday Mullen shares last month announced the I GO Commercial Urban Delivery EV has arrived Europe with sample vehicles now en route to Newgate Motor Group in Ireland Macy s Inc NYSEM shares fell 42 to 2121 in pre market trading Macy s said it sees sales to come in at the low end to mid point of its earlier issued projected range of 816 billion to 840 billion The company however maintained its adjusted earnings view of 147 to 167 per share Don’t forget to check out our premarket coverage here DoorDash Inc NYSEDASH shares dropped 47 to 4576 in pre market trading Piper Sandler downgraded DoorDash from Neutral to Underweight and lowered the price target from 227 to 40 while Jefferies initiated coverage on the stock with an Underperform rating and announced a price target of 37 Sorrento Therapeutics Inc NASDAQSRNE shares fell 44 to 109 in pre market trading after dropping over 3 on Friday trivago NV NASDAQTRVG shares declined 35 to 140 in pre market trading Paymentus Holdings Inc NYSEPAY shares dropped 32 to 773 in pre market trading Now Read This Fear Greed Index Moves To Neutral Zone Following Jobs Data | 0 |
Gainers Jiuzi Holdings Inc NASDAQJZXN shares surged 1068 to 577 in pre market trading The stock began trading on a 118 reverse split on July 10 Wah Fu Education Group Limited NASDAQWAFU shares gained 352 to 307 in pre market trading Snail Inc NASDAQSNAL shares rose 297 to 214 in pre market trading after gaining around 3 on Wednesday Senmiao Technology Limited NASDAQAIHS shares rose 148 to 063 in pre market trading as the company reported financial results for the fiscal year ended March 31 2023 Total revenue of 81 million from continuing operations a growth of 645 in the previous fiscal year Spire Global Inc NYSESPIR gained 144 to 079 in pre market trading Spire Global is expected to report second quarter results on Aug 9 2023 8x8 Inc NASDAQEGHT shares climbed 14 to 513 in pre market trading after adding 3 on Wednesday OceanPal Inc NASDAQOP rose 138 to 180 in pre market trading after gaining over 14 on Wednesday AIM ImmunoTech Inc NYSEAIM rose 109 to 07165 in pre market trading AIM ImmunoTech recently enrolled and dosed first subject in Phase 2 study evaluating ampligen for the treatment of post COVID conditions Moolec Science SA NASDAQMLEC shares gained 104 to 381 in pre market trading after declining over 4 on Wednesday E Home Household Service Holdings Limited NASDAQEJH gained 9 to 01633 in pre market trading Losers Healthcare Triangle Inc NASDAQHCTI fell 252 to 463 in pre market trading Healthcare Triangle shares jumped over 90 on Wednesday after the company launched ransomware initiative aimed at protection prevention for healthcare providers The NFT Gaming Company Inc NASDAQNFTG fell 246 to 101 in pre market trading after climbing 90 on Wednesday Galmed Pharmaceuticals Ltd NASDAQGLMD fell 231 to 187 in pre market trading Galmed recently announced plans to employ OnKai s disruptive artificial intelligence in its planned Phase 2a clinical trial in PSC Freeline Therapeutics Holdings plc NASDAQFRLN fell 214 to 452 in pre market trading after jumping 55 on Wednesday Viasat Inc NASDAQVSAT shares fell 195 to 3459 in pre market trading after the company said that an unexpected event occurred during reflector deployment that may materially impact the performance of the ViaSat 3 Americas satellite Camber Energy Inc NYSECEI fell 157 to 086 in pre market Camber Energy shares jumped around 49 on Wednesday abnormally high volume Wednesday amid increased retail investor attention Petros Pharmaceuticals Inc NASDAQPTPI shares dropped 155 to 320 in pre market trading after climbing 93 on Wednesday Ault Alliance Inc NASDAQAULT shares fell 141 to 456 in pre market trading Ault Alliance shares jumped over 60 on Wednesday after the company said it anticipates 200 million in annual revenue for 2023 Takung Art Co Ltd NASDAQTKAT fell 139 to 031 in pre market trading after surging 24 on Wednesday Eloxx Pharmaceuticals Inc NASDAQELOX fell 137 to 835 in pre market trading Eloxx Pharmaceuticals shares climbed around 28 on Wednesday after Oppenheimer maintained an Outperform rating on the stock and raised its price target from 50 to 55 Now Read This Investor Sentiment Improves Following Inflation Report | 0 |
Shares of Intercontinental Exchange Inc ICE inched 091 higher to 9750 Monday on what proved to be an all around favorable trading session for the stock market with the SP 500 Index SPX rising 096 to 380680 and the Dow Jones Industrial Average DJIA rising 131 to 3282700 This was the stock s third consecutive day of gains Intercontinental Exchange Inc closed 4096 short of its 52 week high 13846 which the company achieved on December 29th The stock outperformed some of its competitors Monday as CME Group Inc Cl A CME fell 054 to 16974 Nasdaq Inc NDAQ rose 082 to 6241 and Cboe Global Markets Inc CBOE fell 076 to 12732 Trading volume 21 M remained 812064 below its 50 day average volume of 29 M Editor s Note This story was auto generated by Automated Insights an automation technology provider using data from Dow Jones and FactSet See our market data terms of use | 0 |
BEIJING Chinese real estate defaults have increased so much that Goldman Sachs analysts have shifted to their worst case scenario for the riskiest part of the market Twenty two China high yield bond issuers all related to the property sector have either defaulted on their US dollar denominated bonds or deferred repayment with bond exchanges since the start of this year analysts Kenneth Ho and Chakki Ting wrote in a report Friday Given the pick up in stresses we raise our FY22 China Property HY default rate forecast to 316 from 190 previously which was our previous bear case assumption the analysts said They also raised their estimate for the Asia high yield corporate default rate to 155 up from 93 previously since Chinese property dominates the category The new forecast is slightly lower than the 178 default rate last year according to the report Real estate and related industries account for more than a quarter of China s economy according to Moody s estimates Beijing has tried to tamp down on speculation in its once hot property market In the last two years regulators have focused specifically on reducing property developers reliance on debt for growth Some companies have adjusted but others like Evergrande have worried investors with the size of their debt and potential fallout from large scale default We are unlikely to see a broader recovery in China Property HY until property sales begin to show signs of a rebound the same Goldman analysts wrote in a separate report Friday We believe further easing measures are likely required before property sales can recover particularly with Covid restrictions in place across a number of cities in China they said noting they expect stronger developers will perform much better than weaker ones in the current environment Since March mainland China has faced its worst Covid outbreak in two years resulting in travel restrictions and stay home orders in many parts of the country especially the metropolis of Shanghai With agents and potential buyers unable to view properties on top of an already weak market sales have plunged Daily property transaction volume across 30 major cities was down 50 year on year in May according to separate Goldman analysis released Monday This month Chinese authorities cut mortgage rates and a benchmark for those rates Several local governments have also reduced down payments or announced other measures to make it easier to buy property locally according to state media The central government s rate cuts send a significant signal of policy support for the property market Larry Hu chief China economist at Macquarie said in a note Friday He pointed out that for the past two years Beijing s property policy has been so tight that the average mortgage rate has been higher than the average loan rate which he said is highly unusual April will likely have been the low point for the property sector this year Hu said In his view unemployment has climbed so high while property and credit demand have fallen so much that policymakers have no choice but to take actions for saving the housing market | 0 |
Keurig Dr Pepper IncNASDAQKDP reportedfirst quarter FY23 sales growth of 89year on year to 335 billion beating the consensus of 330 billion Net sales for US refreshment beverages grew 127 US Coffee decreased 13 and International climbed 172 Gross profit increased 57 to 17 billion with the margin at 52 The operating margin was 174 and operating income for the quarter declined 395 to 584 million Adjusted EPS of 034 beat the consensus of 033 The company held 204 million in cash and equivalents as of March 31 2023 CEO and Chairman Bob Gamgort said Though the at home coffee category is still cycling through mobility related changes relative to last year single serve continues to gain volume share of the US category Outlook Keurig Dr Pepper reaffirmed its FY23 guidance for constant currency net sales growth of 5 and Adjusted EPS growth of 6 7 Price ActionKDP shares traded lower by 517 at 3367 on the last check Thursday | 0 |
Positioning in this market has still been decidedly bearish Maybe the last four days were an anomaly Maybe today is an anomaly Whether you think it is or not it was an awful day The Dow Jones Industrial Average losing thirteen hundred points here on the day down 4 percent The S P 500 down about one hundred and seventy eight point four percent loss on the day The Nasdaq composite down six hundred and thirty two points or about five point two percent The Nasdaq 100 which we should point out is down 55 percent in the Russell 2010 down about three point nine percent here on the day right now at 18 31 to Mike s point earlier about a sell everything day The idea of capitulation perhaps 6 percent is six Excuse me make that 5 As we get settled here Only five stocks in the S P 500 were in the green today Four hundred and ninety seven were in the red You really see that Some of the big decliners there the size and scope TAM of course that you provide will also try to provide some size and scope as well when you think about some of the individual sectors as well for the S P 500 And again there is not even one sector in the green for a radio audience Will put this out on Twitter for you Even the best performers there s still off two and a half percent This sector that outperformed energy last two and a half percent today That really tells you the pressure that this market was under household products and utilities Classic safe havens Also Mike as you know this off two point seven percent Unfortunately we ll go to the bottom of this screen as well As Caroline says if you re long this market the worst performers here were a lot of the RAD technology software media semiconductors You re off five or even six point seven percent on the day Well tell her let me tell you about what actually did manage to gain stay There s not many of them I could probably pretty much rattle off all the stocks that gained in the S P 500 The biggest gainer courts have which is a agro science company up about less than zero point nine percent They announced a two billion dollar buyback Twitter up about zero point eight percent This is after shareholders approved Elon Musk s forty four billion dollar buyout Of course that s still about 38 percent higher than where the shares are trading at remain This one s for you I know you re worried about your big load of butter being delivered on time There s also concern about fertilizer being delivered and they re already hauling ship shipments of ammonia Key component of fertilizer because of the potential rail strike Well see if industries shareholders actually like that news For some reason that stock is up zero point seven percent Are you got the gainers Mike Lucky to find a few of those I got the decliners It was pretty easy to do this today I want to start with the biggest decliners on a percentage basis in the S P 500 today That would be Eastman Chemical actually fallen the most since June of 2020 at levels last seen in November of 2020 The company guided lower than X toward lower than expected third quarter results The CEO said the demand is quote slowed more than expected in August and September Analyst had been slashing price targets and ratings in the sector as sentiment continues to worsen Citigroup actually performed better than the S P 500 today but I still wanted to take note of it Down three point seven percent It shares did drop as much as 45 percent Earlier the CFO Mark Mason warning and that investment banking revenue would fall 50 percent in the third quarter Trading revenue would drop in the mid to high single digit ranges range as well And then other homebuilder remain And a hit on these earlier today Lennar down close to 8 percent Homebuilders taking a stock hit today Toll Brothers DR Horton turning lower as well Hotter than expected inflation Print could signal of course that mortgage rates could go up in the short term and now would certainly put a dent in what happened And of course we d be remiss not to point out the real impact The big tech here Apple and Microsoft posting their biggest one day losses going back to September of 2020 There s a superlatives there Apple Microsoft down 5 percent a piece here on the day Amazon down 7 melted down 9 in video Alphabet also sliding here on the day | 0 |
The SP 500 settled lower on Tuesday as investors digested Federal Reserve Chairman Jerome Powell’s remarks All three major stock indices dropped more than 1 at the close on Tuesday Meta Platforms Inc NASDAQMETA plans to cut thousands of employees as soon as this week according to a Bloomberg report citing people familiar with the matter Major sectors on the SP 500 closed on a negative note with financials and real estate stocks recording the biggest losses on Tuesday The Nasdaq 100 fell 122 to close at 1215217 on Tuesday amid gains in shares of Tesla Inc NASDAQTSLA and Apple Inc NASDAQAAPL The SP 500 fell 153 while the Dow Jones lost 172 to 3285646 in the previous session The Chicago Board Options Exchange s CBOE Volatility Index VIX rose 53 to 1959 points on Tuesday What is CBOE Volatility Index The CBOE Volatility Index popularly known as VIX is a measure of the equity market s expectation of volatility based on SP 500 index call and put options Read Next Snap Options Traders Betting On Stock Giving Back Gains After Rising Sharply Monday | 0 |
Bond yields fell on Tuesday as traders worried that COVID 19 restrictions in China may further damage global economic growth Treasury yields edged lower as additional COVID 19 lockdowns in China were seen as increasing the chances of a global economic slowdown Market sentiment was described by analysts as fragile given the uncertainty over whether China would make a U turn on its reopening plansRead China announces first COVID deaths in months and unveils restrictions in Beijing and Guangzhou The spread between the US 2 and 10 year yields was around minus 73 basis points one of its most inverted levels in more than 40 years and a sign that some say points to an inevitable recession There are no major US economic releases on Tuesday However Kansas City Fed President Esther George is due to speak at 215 pm Markets are pricing in a 76 probability that the Fed will raise interest rates by another 50 basis points to a range of 425 to 450 on Dec 14 according to the CME FedWatch tool The central bank is mostly expected to take its fed funds rate target to at least 475 to 5 by MarchStock Market Today Live coverage of Tuesday s market action What analysts are saying In terms of what s coming out of China there are growing concerns among investors that there ll be a return to lockdowns following the weekend news that they d had their first Covid death in six months said a team at Deutsche Bank The latest developments have all served to dampen the speculation of recent weeks that China might be moving gradually away from its zero Covid strategy | 0 |
Register now for FREE unlimited access to Reuterscom Register Vendors wait for customers at their respective shops at a retail market in Kolkata India December 12 2018 REUTERSRupak De Chowdhuri NEW DELHI Sept 12 Reuters India s retail inflation accelerated to 7 year on year in August driven by a surge in food prices adding pressure on the central bank to further hike interest rates later this month The monetary policy committee MPC of the Reserve Bank of India RBI has raised the benchmark repo rate INREPOECI by 140 basis points since May to 54 including 50 basis points last month aiming to curb consumer demand read more Annual consumer price index based inflation INCPIYECI in August was higher than expected data released by the National Statistics office showed compared to the 69 forecast in a Reuters poll of economists and above July s 671 Food inflation which accounts for nearly 40 of the CPI basket rose 762 year on year in August compared to a revised 669 in July The government has imposed curbs on exports of wheat sugar and rice to cool local prices as it is worried over the shortfall in rainfall in some parts of the country could drive up food prices read more The MPC will hold its next monetary policy meeting on Sept 30 and is widely expected to raise the repo rate by 25 50 basis points economists said Shaktikanta Das RBI governor said earlier this month that retail inflation had peaked and was expected to moderate to around 5 by the April June quarter of the next year citing a fall in international crude oil and other commodity prices The rise in food and fuel prices has severely hit poor households We have cut down spending on vegetables said Puspanjali Sahu a resident of the eastern Indian city of Bhubaneswar We are not going out to any eatery we are not watching movies in the cinema hall Reporting by Manoj Kumar and Aftab Ahmed Editing by David Goodman and Philippa Fletcher | 0 |
DUBAI Feb 3 Reuters Saudi Arabia s sovereign wealth fund is in talks with banks to exercise an extension option on a 15 billion revolving credit facility it took out in March last year two sources with direct knowledge of the matter said The Public Investment Fund s one year loan was provided by 17 banks and has four extension options Sources previously said the loan would be used for general corporate purposes A revolving loan is one that can be drawn repaid and drawn again during the agreed lending period PIF which is chaired by Crown Prince Mohammed bin Salman and is the engine of his economic transformation plans for Saudi Arabia declined to comment The lenders obviously have the right to say no when they come and ask for an extension but given that it s a relationship facility given everything that s happening in Saudi and how much business people are chasing with PIF I think they ll get most of the banks if not all of them rolling their exposures over one of the sources said PIF which manages about 480 billion in assets is at the centre of Saudi Arabia s Vision 2030 a national strategy aimed at diversifying the economy and cutting the kingdom s reliance on hydrocarbons The sovereign wealth fund started raising bank debt in 2018 with an 11 billion facility followed in 2019 by a 10 billion loan which it then repaid in 2020 The banks involved in the loan were BNP Paribas BNPPPA Bank of America BACN Citi CN Credit Agricole CAGRPA Credit Suisse CSGNS Deutsche Bank DBKGnDE First Abu Dhabi Bank FABAD Goldman Sachs GSN HSBC HSBAL Intesa Sanpaolo ISPMI JPMorgan JPMN Mizuho 8411T Morgan Stanley MSN Natixis SMBC 8316T Societe Generale SOGNPA and Standard Chartered STANL sources have previously said Fitch Ratings on Wednesday assigned PIF an A credit rating in line with the sovereign s and said it expected the fund to gradually tap the international debt markets read more Reuters reported last year that PIF was setting up an environmental social and governance ESG framework under which it is likely to issue multibillion dollar green bonds Its governor Yasir al Rumayyan said in September PIF was working with BlackRock on the framework and planned to announce its debut green bonds soon without providing details Reporting by Saeed Azhar and Yousef Saba Editing by Kim Coghill | 0 |
Gold prices fell sharply on Wednesday as the yellow metal retreated from a fresh 9 month high Gold prices have risen more than 5 since the start of 2023 helped by signs of waning US inflation and expectations for a recession A weaker US dollar and lower Treasury yields have also helped bolster prices for gold and other precious metals analysts said Gold and silver prices are weaker in early US trading Wednesday on some profit taking from the shorter term futures traders said Jim Wyckoff senior analyst at Kitcocom | 0 |
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