Stock Company – Pivdencom Bank http://pivdencombank.com/ Sat, 18 Sep 2021 03:02:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://pivdencombank.com/wp-content/uploads/2021/06/cropped-favicon-32x32.png Stock Company – Pivdencom Bank http://pivdencombank.com/ 32 32 Mohawk, Calhoun, Ga. Based flooring company clears $ 500 million share repurchase plan https://pivdencombank.com/mohawk-calhoun-ga-based-flooring-company-clears-500-million-share-repurchase-plan/ https://pivdencombank.com/mohawk-calhoun-ga-based-flooring-company-clears-500-million-share-repurchase-plan/#respond Sat, 18 Sep 2021 01:03:09 +0000 https://pivdencombank.com/mohawk-calhoun-ga-based-flooring-company-clears-500-million-share-repurchase-plan/
Staff photo / Mohawk Industries is shown on Wednesday, June 19, 2019 in Calhoun, Georgia.

Mohawk Industries announced on Friday a new share repurchase plan to buy back up to $ 500 million of the company’s stock.

Mohawk, the world’s largest flooring company headquartered in Calhoun, Ga., Said its directors approved a plan to repurchase common shares in open market transactions, transactions in block or privately traded.

Mohawk shares are up 29% so far this year, but the company’s stock price is down 20.8% from this year’s peak in May.

Mohawk and other flooring manufacturers benefited from higher sales thanks to increased spending on home construction and renovations, but carpet makers were also affected by rising raw material prices.

“The number of shares to buy and the timing of purchases are based on various factors including, but not limited to, level of cash balances, credit availability, covenants restrictions, terms and conditions. general trading, regulatory requirements, the market price of the company’s shares and the availability of alternative investment opportunities, ”Mohawk said in a statement Friday.

Mohawk stated that no time limit has been set for the completion of repurchases and that the share repurchase program may be suspended or discontinued at any time.

Next article

Previous article

]]>
https://pivdencombank.com/mohawk-calhoun-ga-based-flooring-company-clears-500-million-share-repurchase-plan/feed/ 0
FedEx, US Steel, Thermo Fisher, Moderna, Invesco and more https://pivdencombank.com/fedex-us-steel-thermo-fisher-moderna-invesco-and-more/ https://pivdencombank.com/fedex-us-steel-thermo-fisher-moderna-invesco-and-more/#respond Fri, 17 Sep 2021 16:56:18 +0000 https://pivdencombank.com/fedex-us-steel-thermo-fisher-moderna-invesco-and-more/

The Moderna sign can be seen outside their headquarters in Cambridge, MA on March 11, 2021.

Boston Globe | Getty Images

Find out which companies are making headlines in midday trading.

Thermo Fisher Scientific – The scientific equipment maker saw its shares jump more than 8.5% after saying profits and revenues for 2022 would be much higher than analysts are now expecting as demand soars in the the middle of the pandemic.

Moderna – Vaccine maker shares lost nearly 5% as Food and Drug Administration’s vaccine advisory committee prepares to begin discussions Friday afternoon on a Covid-19 recall that would be offered to the general public and vote on the Pfizer-BioNTech shot.

Invesco – The asset manager’s shares jumped nearly 7% after the Wall Street Journal reported the company was in talks to merge with State Street’s asset management unit. The report, citing people familiar with the matter, said a deal is not imminent and may not happen at all.

US Steel – US Steel fell more than 6% after revealing plans to build a new steel plant to begin construction in 2022 with plans to operate it in 2024. Demand for steel is high, with prices rising have quadrupled since the summer of 2020. Shares are up 40% this year.

Zumiez – Zumiez shares rose more than 5% after the skate clothing retailer announced a share buyback of up to $ 150 million.

Diamondback Energy – Power producer Diamondback saw its shares rise more than 2.5% after announcing a $ 2 billion share buyback on Thursday evening as part of its fast-track plan to return 50% of the cash flow of cash available to shareholders in the fourth quarter.

Cree – Cree fell nearly 4% after Bank of America lowered the stock to underperform it against the neutral stance, saying it sees “limited” upside potential in the semi-maker. trailers. Specifically, he cited the increase in capital intensity and said that competition outweighs the long-term benefits of electric vehicles.

FedEx – Shares of the delivery company fell more than 1% on Friday after UBS cut its earnings estimates for FedEx. The investment firm said rising wages and hiring difficulties will hurt FedEx’s results when the company releases its first quarter tax results next week.

Freeport-McMoRan – The mining company fell more than 3%, extending its losses on Thursday amid lower prices for metals, including silver and copper. The president of Freeport also spoke about the development of mining projects during a virtual conference organized by Morgan Stanley this week.

– CNBC’s Yun Li, Hannah Miao and Jesse Pound contributed reporting

Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews, and access to CNBC TV.
Register to start a free trial today

]]>
https://pivdencombank.com/fedex-us-steel-thermo-fisher-moderna-invesco-and-more/feed/ 0
Zee Entertainment among 6 stocks on NSE’s F&O ban list for today, IRCTC out https://pivdencombank.com/zee-entertainment-among-6-stocks-on-nses-fo-ban-list-for-today-irctc-out/ https://pivdencombank.com/zee-entertainment-among-6-stocks-on-nses-fo-ban-list-for-today-irctc-out/#respond Fri, 17 Sep 2021 03:18:24 +0000 https://pivdencombank.com/zee-entertainment-among-6-stocks-on-nses-fo-ban-list-for-today-irctc-out/

A list of six stocks / securities has been subject to the Futures and Options (F&O) ban by the National Stock Exchange (NSE) for today (September 16, 2021). The six stocks on the F&O ban list on NSE are Escorts, Sun TV, National Aluminum Company (Nalco), SAIL, Zee Entertainment and Exide Industries. The derivative contracts on the mentioned securities have exceeded 95% of the position limit at market level and are therefore currently put on a blackout period by the stock exchange.

“It is hereby informed that all clients / members will only trade derivative contracts of said security to decrease their positions through offsetting positions,” the exchange said. “Any increase in vacancies will result in appropriate criminal and disciplinary action,” NSE added.

Indian Railway Catering and Tourism Corporation (IRCTC) is off the list. Zee Entertainment Enterprises Limited’s shares have been the center of attention in recent trading sessions after Rakesh Jhunjhunwala’s Rare Enterprises and BofA Securities Europe SA bought its shares through open market transactions.

No new position is allowed for any of the F&O contracts in that particular stock when it is under the F&O blackout period. The MWPL (market-wide position limit) is set by the stock exchanges, which corresponds to the maximum number of contracts that can be opened at any time (Open Interest). Therefore, the M&O contracts of this share enter a blackout period if the open interest crosses 95% of the MWPL.

To subscribe to Mint newsletters

* Enter a valid email address

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our app now !!

]]>
https://pivdencombank.com/zee-entertainment-among-6-stocks-on-nses-fo-ban-list-for-today-irctc-out/feed/ 0
TMC Stock soars as Buzz expands on The Metals Company. What investors are saying today. https://pivdencombank.com/tmc-stock-soars-as-buzz-expands-on-the-metals-company-what-investors-are-saying-today/ https://pivdencombank.com/tmc-stock-soars-as-buzz-expands-on-the-metals-company-what-investors-are-saying-today/#respond Thu, 16 Sep 2021 15:23:52 +0000 https://pivdencombank.com/tmc-stock-soars-as-buzz-expands-on-the-metals-company-what-investors-are-saying-today/

The metals society (NASDAQ:TMC) Stocks are on the move Thursday as memes traders continue to push stocks higher.

Source: Dmitry Demidovich / ShutterStock.com

The Metals Company has had a wild ride since going public on September 10. This is because the company didn’t get as much money as it hoped from the merger of its Special Purpose Acquisition Company (SPAC) with Sustainable Opportunities Acquisition.

So why is this generating so much interest among meme stock traders? To put it simply, the massive number of investors who have pulled out of funding has left it with little float. As we already know, low float businesses are ripe for manipulation by memes and retail marketers. This seems to be what’s been happening with TMC stocks lately.

With that in mind, let’s take a look at what marketers are saying about TMC on social media.

TMC Stock Twitter Discussion

With meme and retail traders behind the TMC stock rally, it’s no surprise that stocks are trading intensely today. As of this writing, over 25 million shares have changed hands. That’s well above its average daily trading volume of around 8.9 million shares.

Of course, investors will want to be careful before embarking on the TMC stock rally. Often, stocks that are inflated in this manner do not last long before a drop ensues. Be careful not to be among the traders holding the bag.

TMC stock was up 20% on Thursday morning.

There is more stock market news investors will want to know below!

We have all the latest stock market news traders need to know through our daily market coverage. For today, this includes what is happening with the actions of Palantir Technologies (NYSE:PLTR), AMC Entertainment (NYSE:AMC), and Offer solutions (NYSE:OPAD). You can get all these details at the following links!

More stock market news for Thursday

At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, submitted to InvestorPlace.com Publication guidelines.

]]>
https://pivdencombank.com/tmc-stock-soars-as-buzz-expands-on-the-metals-company-what-investors-are-saying-today/feed/ 0
App Annie and Co-Founder Charged with Securities Fraud, to Pay $ 10 Million Settlement + – TechCrunch https://pivdencombank.com/app-annie-and-co-founder-charged-with-securities-fraud-to-pay-10-million-settlement-techcrunch/ https://pivdencombank.com/app-annie-and-co-founder-charged-with-securities-fraud-to-pay-10-million-settlement-techcrunch/#respond Tue, 14 Sep 2021 23:41:12 +0000 https://pivdencombank.com/app-annie-and-co-founder-charged-with-securities-fraud-to-pay-10-million-settlement-techcrunch/

The United States Securities and Exchange Commission (SEC) has charged App Annie, a leading mobile data and analytics company, along with its co-founder and former CEO and Chairman Bertrand Schmitt, with securities fraud. App Annie and Schmitt have agreed to pay more than $ 10 million to settle fraud charges related to “deceptive practices and material misrepresentation about how App Annie’s alternative data was derived,” said the DRY.

App Annie is one of the largest sellers of mobile app performance data, providing useful details for developers, publishers, advertisers and marketers such as how many downloads an app has, how often it is used, the revenue it generates and other competitive analyzes. and ideas. This is what trading companies call “alternative data” because it is not detailed in their financial statements or other traditional data sources, the SEC explains. App Annie has told app makers that it will not directly disclose their data to third parties, but instead will use the data in an aggregated and anonymized way to provide information about the apps. Specifically, companies were told that the data would be used to create a statistical model to generate estimates of application performance.

However, according to the SEC, from late 2014 to mid-2018, App Annie used unaggregated, non-anonymized data to modify its model-generated estimates to make it more valuable for sale to commercial companies. He also states that the company and Schmitt then twisted with their customers how they were able to generate the data, claiming that they did so with the proper consent of the customers, and that they had effective internal controls in place to prevent the misuse of confidential data, ensuring that it was in compliance with federal securities laws. Trading companies were making investment decisions based on this data, and App Annie had even shared ideas on how they could use the estimates to trade ahead of earnings announcements.

In the full complaint, the SEC further explains that Schmitt had accepted an internal policy that certain “Connect Data” state-owned companies – “Connect” being the analytics product of App Annies – would be excluded from its statistical model in the end. from 2014. But he didn’t. In fact, no one at App Annie asked to document this policy until April 2017. And then, when it was documented, it was only indicated to exclude data on the revenue of the applications of public companies of which application revenue exceeded 5% of total company revenue. It never said to exclude app downloads or usage data.

The SEC says the documented policy was never properly enforced. It wasn’t until App Annie learned of the SEC’s investigation in June 2018 that she changed the policy to exclude public company Connect Data from its estimate generation process and began to fully implement implement the policy.

The investigation also found that App Annie engineers in Beijing, China had been tasked by Schmitt to manually change the estimates that would be of most interest to the company’s highest-paid clients. He did this by examining Connect’s confidential data, which is one of the ways his estimates may have been more accurate than his rivals. Later, in 2016, he implemented a more automated way to adjust his model-generated estimates to match actual (and confidential) revenue and download counts. When App Chief Scientist Annie refused to implement the method, believing that adjustments should only be made to the statistical model itself, Schmitt asked engineers in Beijing to make the changes without notifying them. other managers, subscribers, users or employees of the company.

“Federal securities laws prohibit deceptive conduct and material misrepresentation in connection with the purchase or sale of securities,” said Gurbir S. Grewal, director of the enforcement division of the SEC , in a press release. “Here, App Annie and Schmitt lied to companies about how their confidential data was used, and then not only sold the manipulated estimates to their business customers, but also encouraged them to negotiate on those estimates, often touting their narrow correlation with the actual performance and share prices of companies, ”Grewal added.

The SEC claims that App Annie and Schmitt violated the anti-fraud provisions of Section 10 (b) of the Exchange Act and Rule 10b-5. App Annie, without admitting or denying the findings, has consented to a cease and desist order and is paying a penalty. App Annie agreed to pay a fine of $ 10 million. Meanwhile, Schmitt is ordered to pay a fine of $ 300,000 and is prohibited from serving as an officer or director of a public company for three years.

Asked for comment, current App Annie CEO made a statement:

“Since taking office as CEO, we have set a new standard of trust and transparency for the newly created alternative data market. App Annie is uniquely positioned to be the first to deliver a unified view of data AI, ”said Theodore Krantz, CEO of App Annie. “Many companies may unknowingly mine data based on confidential public company information without explicit consent, which we believe puts companies using digital / mobile market data at significant risk. We believe that the entire alternative data space needs to be regulated. “

In a newsroom article, the company also pointed out that the SEC’s investigation did not concern its “current products” or “our current relationships with customers.” And he says that in the three years since the breached practices, he appointed a new CEO and a new management team, changed the way he built his data estimates and established a “culture of compliance” at the company-wide, which included the appointment of a Head of Global Compliance. It also documented its procedures to ensure that confidential data is excluded from its process of generating market estimates.

App Annie’s mobile market data solution was one of the first to serve the growing application ecosystem when it launched in 2010. Today, her company has more than 1,100 corporate customers and over a million registered users, according to its company website. In early summer, the company reportedly considered a possible sale, IPO or other options.

Details of the complaint and settlement are below.

]]>
https://pivdencombank.com/app-annie-and-co-founder-charged-with-securities-fraud-to-pay-10-million-settlement-techcrunch/feed/ 0
SOL Global Investments Corp. acquires shares of KWESST Micro Systems Inc. to increase its stake to 12% | https://pivdencombank.com/sol-global-investments-corp-acquires-shares-of-kwesst-micro-systems-inc-to-increase-its-stake-to-12/ https://pivdencombank.com/sol-global-investments-corp-acquires-shares-of-kwesst-micro-systems-inc-to-increase-its-stake-to-12/#respond Fri, 10 Sep 2021 23:39:46 +0000 https://pivdencombank.com/sol-global-investments-corp-acquires-shares-of-kwesst-micro-systems-inc-to-increase-its-stake-to-12/

TORONTO – (BUSINESS WIRE) – Sep 10, 2021–

SOL Global Investments Corp. (the ” Society ” Where ” SOL Global “) (CSE: SOL) (OTCQ: SOLCF) (Frankfurt: 9SB), announces that it acquired on July 22, 2021 the ownership of 205,000 ordinary shares (the” Ordinary actions “) in the capital of KWESST Micro Systems Inc. (” KWE “) On the TSX Venture Exchange (the” TSXV ”) At a price of C $ 2.08 per common share (the“ First transaction “), and that on August 18, 2021, it had acquired ownership of 15,000 common shares on the TSX Venture Exchange at a price of Cdn $ 1.97 per common share (the” Second operation “). Completion of the first transaction resulted in an increase from approximately 9.1% to approximately 9.6% in the percentage of SOL Global shareholding of issued and outstanding common shares on an undiluted basis. In addition, SOL Global holds 370,000 common share purchase warrants (the “ Mandates “). Each warrant entitles its holder to purchase one common share at an exercise price of $ 1.75 for a period of 24 months from the date of issue. Assuming that all warrants are each exercised for one common share, SOL Global held approximately 10.3% of the issued and outstanding common shares on a partially diluted basis immediately after the completion of the first transaction. The completion of the second transaction resulted in a 2.0% increase in the percentage of SOL Global’s holdings in issued and outstanding common shares from approximately 9.6% to 11.6% on an undiluted basis, and approximately 10.3% to 12.3% on a partially diluted basis, in each case from the date of completion of the First Transaction.

The Company has acquired the securities indicated herein for investment purposes. The Company may, depending on the market and other conditions, increase or decrease its beneficial ownership of the securities of KWE, whether through open market transactions, privately negotiated agreements or otherwise, subject to ‘a number of factors, including general market conditions and other investment and business opportunities.

This press release is issued to comply with National Instrument 62-104 – Takeover bids and public buyback offers and National Standard 62-103 – The early warning system and issues with takeover bids and insider reports. An alert report will be filed and available on SEDAR regarding the Transaction. For further information or to obtain a copy of the early warning report to be filed in relation to this press release, please contact SOL Global at the contact details provided below.

About SOL Global Investments Corp.

SOL Global is a diversified private equity and investment holding company active in the small and mid-cap sectors. SOL Global’s investment partnerships range from minority positions to large strategic holdings with active advisory mandates. The Company’s seven main lines of business include Retail, Agriculture, Fast Food and Hospitality, Media Technology and New Age Games and Wellness.

The registered office of the Company is located at 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9. KWE’s head office is located at 2900 – 550 Burrard Street, Vancouver, British Columbia, V6C 0A3.

Warnings

This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained in this document which are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information may be identified by words or expressions such as “may”, “will”, “expect”, “likely”, “should”, “should”, “plan”, ” anticipate “,” intend “,” potential “,” proposed “,” estimate “,” believe “or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” occur, or through discussions of strategy. Forward-looking information contained in this press release includes, without limitation, information relating to the Company’s investment plans .

Forward-looking information is based on certain material assumptions that have been applied in making a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as of other considerations which are deemed appropriate in the circumstances. Although we believe these assumptions to be reasonable based on information currently available to management, there can be no assurance that these expectations will prove to be correct.

By their nature, forward-looking information is subject to inherent risks and uncertainties which may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that the assumptions may not be correct and that the objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information contained in this press release, including the inability or failure of the companies in the Company’s portfolio to carry out their activities and strategic plans whether or not envisaged, changes in national or regional economic, legal, regulatory and competitive conditions and a resurgence of the COVID-19 pandemic.

Other risk factors include: risks resulting from investing in the US marijuana industry, which may be legal under certain state and local laws but is currently illegal under US federal law; risks of investing in securities of private companies which may limit the Company’s ability to sell or liquidate such securities and to realize value; dependence on management; the Company’s ability to service its debt; the Company’s ability to obtain additional financing from time to time to pursue its business objectives; competetion; litigation; inconsistent public opinion and perception of the medical and adult marijuana industry; and regulatory or policy change. Additional risk factors can also be found in the Company’s current MD&A, which has been filed on SEDAR and can be viewed at www.sedar.com. Readers are urged to carefully consider these and other factors, uncertainties and potential events, and not to place undue reliance on forward-looking information.

The forward-looking information contained in this document is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management at the date on which such forward-looking information is made. The Company assumes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material differences between subsequent actual events and such forward-looking information, except as required by applicable law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210910005579/en/

CONTACT: SOL Global Investments Corp.

Paul Kania, Chief Financial Officer

Telephone: (212) 729-9208

Email: info@solglobal.com

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: FINANCE TOBACCO BANK SPECIALIZED PROFESSIONAL SERVICES ALTERNATIVE MEDICINE HEALTH AGRICULTURE RETAIL TRADE NATURAL RESOURCES

SOURCE: SOL Global Investments Corp.

Copyright Business Wire 2021.

PUB: 09/10/2021 19:39 / DISC: 09/10/2021 19:39

http://www.businesswire.com/news/home/20210910005579/en

]]>
https://pivdencombank.com/sol-global-investments-corp-acquires-shares-of-kwesst-micro-systems-inc-to-increase-its-stake-to-12/feed/ 0
Most actively traded companies on the Toronto Stock Exchange https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange-2/ https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange-2/#respond Tue, 07 Sep 2021 21:52:13 +0000 https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange-2/

TORONTO – Some of the most active companies listed on the Toronto Stock Exchange on Tuesday:

Toronto Stock Exchange (20,806.63, down 14.80 points.)

Suncor Energy Inc. (TSX: SU). Energy. Down 15 cents, or 0.64%, to $ 23.32 on 14.9 million shares.

Enbridge Inc. (TSX: ENB). Energy. Up 43 cents, or 0.86 percent, to $ 50.55 on 13.8 million shares.

Manulife Financial Corporation (TSX: MFC). Financial. Up 20 cents, or 0.82 percent, to $ 24.62 on 10.4 million shares.

Bombardier Inc. (TSX: BBD.B). Industrialists. Up to one cent, or 0.52 percent, to $ 1.94 on 10 million shares.

BCE Inc. (TSX: BCE). Communications. Up 29 cents, or 0.44%, to $ 66.02 on 8.1 million shares.

Canadian Natural Resources Ltd. (TSX: CNQ). Energy. Down 40 cents, or 0.91%, to $ 43.42 on 7.3 million shares.

Companies in the news:

Enbridge Inc. (TSX: ENB). Up 43 cents, or 0.86 percent, to $ 50.55. Canadian pipeline giant Enbridge Inc. is expanding its presence on the US Gulf of Mexico coast with a US $ 3 billion acquisition. The Calgary-based company said on Tuesday it would acquire U.S. terminal and logistics company Moda Midstream Operating LLC from private equity firm EnCap Flatrock Midstream. As part of the agreement, Enbridge will acquire the largest crude export terminal in North America, the Ingleside Energy Center located near Corpus Christi, Texas. The terminal, which will be renamed Enbridge Ingleside Energy Center, has 15.6 million barrels of storage and 1.5 million barrels per day of export capacity. It charged 25% of all US Gulf Coast crude exports in 2020. Enbridge is looking to carve out a strong position on the US Gulf Coast to meet growing global demand for a sustainable energy supply at lower cost. The Ingleside energy hub is located near low-cost, long-lived oil reserves in the Permian and Eagle Ford basins, said Enbridge CEO Al Monaco. The facility is considered one of the most competitive export facilities in North America, supported by 925,000 barrels per day of long-term vessel loading contracts and 15.3 million barrels of storage contracts long-term.

This report by The Canadian Press was first published on September 7, 2021.

]]>
https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange-2/feed/ 0
S&P and Nasdaq hit record highs as jobless claims hit pandemic-era low https://pivdencombank.com/sp-and-nasdaq-hit-record-highs-as-jobless-claims-hit-pandemic-era-low/ https://pivdencombank.com/sp-and-nasdaq-hit-record-highs-as-jobless-claims-hit-pandemic-era-low/#respond Thu, 02 Sep 2021 13:44:05 +0000 https://pivdencombank.com/sp-and-nasdaq-hit-record-highs-as-jobless-claims-hit-pandemic-era-low/

U.S. stock indexes hit record highs on Thursday as weekly jobless claims fell to a pandemic-era low ahead of the August jobs report.

The Dow Jones Industrial Average added 135 points, or 0.38%, while the S&P 500 Index and the Nasdaq Composite Index rose 0.39% and 0.42% respectively. Early gains took the S&P and Nasdaq to all-time highs for the day.

Teleprinter Security Last Switch Switch %
Me: DJI MEDIUM DOW JONES 35376.16 +63.63 + 0.18%
SP500 S&P 500 4536.32 +12.23 + 0.27%
I: COMP NASDAQ COMPOSITE INDEX 15352.560122 +43.18 + 0.28%

Initial jobless claims for the week ended August 28 fell to 340,000, the lowest since March 2020. Continuing claims also hit their lowest level since before the coronavirus outbreak. Improved claims data paves the way for Friday’s non-farm payroll report, which is expected to show 720,000 jobs added in August as the unemployment rate fell to 5.2%.

In equities, mega-cap tech companies Facebook Inc. and Alphabet Inc. have sought to extend the records reached on Wednesday. Apple Inc. was also flirting with its own record.

Teleprinter Security Last Switch Switch %
FB FACEBOOK, INC. 377.42 -4.63 -1.21%
GOOGL ALPHABET, INC. 2,876.95 -27.36 -0.94%
AAPL APPLE INC. 153.71 +1.20 + 0.79%

In earnings, shares of Chewy Inc. were down sharply after the online pet retailer reported sales for its final quarter and its forecast for the current quarter missed Wall Street estimates. The company expects its growth rate to moderate as the economy normalizes amid the easing of COVID-19 restrictions.

Teleprinter Security Last Switch Switch %
CHWY CHEWY INC. 80.92 -6.64 -7.58%
SWBI SMITH & WESSON BRANDS 23.04 -1.84 -7.40%

Smith & Wesson Brands Inc. posted record quarterly sales that were below analysts’ expectations. The reduction in costs enabled the firearms manufacturer to achieve a record gross margin.

Broadcom Inc., Docusign Inc. and Hewlett Packard Enterprise Co. are among the companies expected to report after the closing bell.

Teleprinter Security Last Switch Switch %
BRCM n / A n / A n / A n / A
DOCU DOCUSIGN, INC. 294.55 -2.67 -0.90%
HPE HEWLETT-PACKARD COMPANY CO. 15.35 -0.07 -0.43%

Elsewhere, Virgin Galactic Holdings Inc. is facing an investigation by the Federal Aviation Administration after the flight that carried Richard Branson, the company’s founding billionaire, into space allegedly deviated from its path.

Tesla CEO Elon Musk has announced that the redesigned roadster is unlikely to be available until 2023, three years later than originally planned.

Teleprinter Security Last Switch Switch %
SPCE HOLDINGS VIRGIN GALACTIC INC. 27.31 +0.52 +1.94%
TSLA TESLA, INC. 736.61 +2.52 + 0.34%

In commodities, West Texas Intermediate crude oil climbed $ 1.67 to $ 70.30 per barrel and gold slipped $ 2 to $ 1,814 per ounce.

Foreign trade was turbulent.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

In Europe, the UK FTSE 100, French CAC 40 and German DAX 30 were all less than 0.1% of their respective landlines.

Asian stock markets rallied across the board, with China’s Shanghai Composite rising 0.84%, Japan’s Nikkei 225 0.33% and Hong Kong’s Hang Seng index 0.24%.

]]>
https://pivdencombank.com/sp-and-nasdaq-hit-record-highs-as-jobless-claims-hit-pandemic-era-low/feed/ 0
IPO love affair with the U.S. stock market means upheaval is near https://pivdencombank.com/ipo-love-affair-with-the-u-s-stock-market-means-upheaval-is-near/ https://pivdencombank.com/ipo-love-affair-with-the-u-s-stock-market-means-upheaval-is-near/#respond Tue, 31 Aug 2021 22:18:42 +0000 https://pivdencombank.com/ipo-love-affair-with-the-u-s-stock-market-means-upheaval-is-near/

They come out of the woods. New issues of common stock are pouring in from venture and private equity portfolios, already well-funded American companies, brains on Wall Street and even overseas. Everyone wants to participate in the stock, which is the inflated prices that investors are willing to pay for stocks. And that means all stocks, as long as there is a good story that implies that a potentially quick payoff could occur.

This year’s IPOs reveal the reality

Most 2021 IPOs have now produced losses (see “The ‘hidden’ risk of the stock market is Wall Street IPO failure – realization and fallout are near.

Almost anything can be sold, even indebted and stagnant companies with brand names like Weber and Dole. Some of the IPO money is even used to cash out private equity holders who first used the company’s debt to pay themselves dividends. The other money from the IPO will pay off excessive and undesirable rated debt. In other words, companies do not receive IPO cash to foster growth – such as for innovation or expansion.

Then there are the infallible Wall Street slots of the PSPC funds, all things “biotech” and the technology / software. No gains? No problem. In fact, investors have in mind that a lack of income can lead to a big payday when the dazzling story comes true and the income streams in.

Value investing – say, what?

Oh, and the value investing is dead. Who wants to own something that should grow at, say, only 5% and a more or less similar business strategy? An established company is seen as weighed down by fixed assets, a multitude of employees and products already known.

The very operation of these businesses is seen as slow and outdated. “Kaizen”, the Japanese term for constant improvement, is considered cumbersome and slow.

“Kaizen is a Japanese term meaning” to change for the better “or” continuous improvement “. It is a Japanese business philosophy about processes that continuously improve operations and involve all employees. Kaizen views improving productivity as a gradual and orderly process. “(Investopedia.com)

And not only the value investment is dissected. The same goes for the evaluation process. The “value” is now considered to be an increase in the price of the shares. A high earning is a sign that a business is big. Fast, high payout means it’s really great, so get started now.

Robinhood Markets IPO is a good example

The company’s facts produced a valuation below the Wall Street offering price. Therefore, institutions tended not to participate in the $ 38 IPO. The two-day opening price drop of more than 10% was seen as proof that Wall Street had blundered. Then the crowd rushed in and the action took off – for three days – dropping from $ 35 to a high of $ 85 (+ 143%). Once again the big, rapid rise ended and ended quickly and the stock is now down almost half to $ 44. However, this dramatic surge was seen as proof of success.

So what about all these reversals and losses?

Two attitudes seem to be at work in their acceptance.

First, day trading is popular. Thus, a daily “fleeting” movement may seem long when the minute hand measures time and the movements are important. (Robinhood Markets’ 3-day hike had 300 million shares traded in its hands.)

Second, the crowd flies. So far, there has always been something new that catches the interest of the crowd, making the fate of being-there-made-that stocks intangible.

The bottom line: supply gets too big so late in the demand-side game

Wall Street will continue to create supply whenever there is investor demand, especially when corporate clients clamor to sell their stocks. Professional fund managers will support such a trend as demand continues to dominate supply. However, they get nervous when the growth in demand slows down as new supplies hit, causing prices to fall. This is when the cancellation begins, with the professionals leading the sale.

The extraordinary increase in supply now will be a major test, and demand may not increase. This, combined with the already visible massive sales of discarded “hot” products, could produce a trend reversal.

Will such a change affect the rest of the stock market? Probably. Rampant speculation in one area of ​​the stock market usually seeps into other areas. (For example, an increase in margin buying and options activity.) Additionally, any upheaval in the stock market tends to dampen investor enthusiasm everywhere.

Thus, a good strategy is to hold cash reserves now in order to take advantage of dismantling opportunities later.

]]>
https://pivdencombank.com/ipo-love-affair-with-the-u-s-stock-market-means-upheaval-is-near/feed/ 0
Most actively traded companies on the Toronto Stock Exchange https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange/ https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange/#respond Fri, 27 Aug 2021 21:52:43 +0000 https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange/

TORONTO – Some of the most active companies listed on the Toronto Stock Exchange on Friday:

Toronto Stock Exchange (20,644.64, up 140.49 points.)

Suncor Energy Inc. (TSX: SU). Energy. Up 55 cents, or 2.33 percent, to $ 24.20 on 9.8 million shares.

Great-West Lifeco Inc. (TSX: GWO). Financial. Down 21 cents, or 0.53%, to $ 39.36 on 5.4 million shares.

Nevada Copper Corp. (TSX: NCU). Materials. Unchanged at 9.5 cents on 5.2 million shares.

Sun Life Financial Inc. (TSX: SLF). Financial. Up 54 cents, or 0.83%, to $ 65.69 on 5.2 million shares.

Toronto-Dominion Bank. (TSX: TD). Financial. Down 40 cents, or 0.48%, to $ 83.30 on 4.8 million shares.

Cenovus Energy Inc. (TSX: CVE). Energy. Up 18 cents, or 1.74%, to $ 10.53 on 4.5 million shares.

Companies in the news:

CCB Financial Group. (TSX: CWB). Up 87 cents or 2.46 percent to $ 36.19. CWB Financial Group exceeded expectations by announcing that its third quarter profit increased from a year ago, helped by revenue growth and lower bad debt provisions. The Edmonton-based bank says profit attributable to common shareholders totaled $ 86.3 million 98 cents per diluted share for the quarter ended July 31, compared to $ 62.3 million or 71 cents per diluted share a year earlier. early. Revenue totaled $ 263.2 million, compared to $ 226.5 million. The results came as the CWB’s provisions for credit losses stood at $ 8.9 million for the quarter, down from $ 24.4 million in the same quarter last year. On an adjusted basis, the CWB says it earned $ 1.01 per share for the quarter, compared to adjusted earnings of 74 cents per share a year ago.

Canopy Growth Corp. (TSX: WEED). Down three cents or 0.14% to $ 21.65. Canopy Growth Corp. announces that its Ontario franchisee will open Tokyo Smoke cannabis stores in four malls. Canopy retail manager Lacey Norton said the Katz Group will bring the company’s pottery stores to Smiths Falls, Ont., At four Cadillac Fairview properties. Norton says Katz Group has chosen the Eaton Center, Fairview Mall and Sherway Gardens in Toronto, and Rideau Center in Ottawa for the Tokyo Smoke locations. She says the Katz Group plans to start opening stores in early October. Katz Group acquired the license rights to Tokyo Smoke in Ontario in 2019, before converting its agreement with Canopy into a main franchise relationship. Katz Group also owns the Edmonton Oilers hockey team, operates the Rogers Place Arena and has a partnership with restaurant brand Oliver & Bonacini.

This report by The Canadian Press was first published on August 27, 2021.

]]>
https://pivdencombank.com/most-actively-traded-companies-on-the-toronto-stock-exchange/feed/ 0