Formula E driver Lucas Di Grassi explains how the eSkootr Championship intends to innovate the micromobility space.
Formula E driver Lucas Di Grassi explains how the eSkootr Championship intends to innovate the micromobility space.
InMoment, the leading provider of Experience Improvement (XI)™, announced today that its XI™ technology platform has been named a 2020 Customer Experience Innovation winner.
(Bloomberg) -- U.S. stocks rose, while Treasuries slid alongside the dollar amid speculation that Washington lawmakers will make progress on talks for stimulus legislation to be financed by trillion-dollar borrowing.The U.S. 10-year yield broke above 0.8% to the highest since June and European yields also rose after Democratic House Speaker Nancy Pelosi expressed hope for political compromise on a bill this week.The S&P 500 rose for a second day, with social media firms leading after Snap Inc. reported strong earnings. Netflix Inc. tumbled after missing subscriber estimates. Tesla Inc. rose ahead of financial results later Wednesday, and social-media company Snap Inc. soared after an earnings beat.European stocks slumped for a third day, with gold miners Fresnillo Plc and Centamin Plc falling after cutting production guidance. Telecom equipment maker Ericsson was a bright spot, climbing after a profit beat.Pelosi said Tuesday she also hoped that fresh stimulus spending would be retroactive, although the Republican Senate majority leader has warned the White House against a bigger Democrat-led deal before the election. The administration said it hopes to get a deal in the next 48 hours and that its offer is now up to $1.88 trillion, below the $2.2 trillion Pelosi has pushed for.“The rise in yields suggests that the market thinks a stimulus deal will be forthcoming and that the Democrats are set to take both the presidency and the Senate at the Nov. 3 election,” said John Hardy, chief foreign-exchange strategist at Saxo Bank.Elsewhere, the yen headed for its best day versus the dollar since August. The pound jumped after European Union chief Brexit negotiator Michel Barnier said a deal is within reach. Copper traded near a two-year high on supply disruptions in Chile.Oil dropped toward $41 a barrel in New York after an industry report pointed to a surprise increase in American crude stockpiles.Here are some key events this week:Brexit trade talks are likely to continue at least into next week if the U.K. and EU fail to reach an agreement.The final presidential debate before the U.S. election, between President Donald Trump and former Vice President Joe Biden, will be live from Nashville, Tennessee on Thursday.U.S. jobless claims come Thursday.Here are some of the main market moves:StocksThe S&P 500 Index rose 0.4% as of 9:44 a.m. New York time.The Stoxx Europe 600 Index decreased 0.9%.The MSCI Asia Pacific Index rose 0.7%.The MSCI Emerging Market Index gained 0.3%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.4% to 1,159.24.The euro increased 0.3% to $1.186.The British pound surged 1% to $1.3078.The Japanese yen strengthened 0.7% to 104.75 per dollar.BondsThe yield on 10-year Treasuries jumped three basis points to 0.82%.The yield on two-year Treasuries climbed one basis point to 0.15%.Germany’s 10-year yield gained one basis point to -0.59%.Britain’s 10-year yield climbed four basis points to 0.231%.CommoditiesWest Texas Intermediate crude dipped 1.4% to $41.11 a barrel.Gold strengthened 0.8% to $1,921.76 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
Figure 1 Cannonball Target Area Showing General Location of Alteration and Sheeted veiningVANCOUVER, British Columbia, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Goldrea Resources Corp. (CSE:GOR, Frankfurt:GOJ, OTC-US;GORAF) (“Goldrea” or the “Company”) is pleased to announce that independent consultants have confirmed historic reports of widespread hydrothermal alteration and gold bearing sheeted quartz veins at the Cannonball Target on the Company’s Golden Triangle Property. The Company’s consultants have advised that the observed alteration patterns and sheeted veining are associated with the sub circular magnetic anomaly identified in the west central part of the Property and are consistent with Goldrea’s interpretation that the Cannonball Target may represent a porphyry lithocap similar to that developed at the Quartz Rise Target located 15 kilometers to the southwest (for additional information please refer to Goldrea’s press release dated February 19, 2020). Seabridge Gold Inc. (“Seabridge”) controls most of the claims to the south of the Cannonball Property and announced the discovery of the Quartz Rise Target in 2016. In 2018 Seabridge announced that they had intersected porphyry copper-gold mineralization associated with a sub-circular magnetic feature and a large IP anomaly (refer to Seabridge press release dated December 18, 2018). On July 16, 2020 Seabridge commenced an 8,000 meter drill program to assess the extent of the porphyry copper gold mineralization at Quartz Rise. The Reader is cautioned that there can be no assurance that mineralization similar to that encountered at Quartz Rise will be identified on the Cannonball Property.The assay results from Goldrea’s 2018 and 2020 sampling program (consisting of 72 samples submitted for assay and an additional 70 samples submitted for petrographic work) confirmed that the sheeted quartz veins within the sub circular magnetic anomaly contain elevated copper, gold and silver concentrations (ranging from trace levels to 81.1 g/t gold, , 47 g/t silver and 0.754% copper). The results of the 2020 sampling program also confirmed historic reports of high gold concentrations associated with a narrow, highly oxidized shear zone that has been traced over a strike length of approximately 10 meters along the southwestern margin of the geophysical anomaly (referred to in BC Ministry of Mines records as Minfile 104B210: Brenwest / Joy Prospect). A 15cm wide chip sample collected across the core of the gossan zone (Sample C00065666) returned 405 g/t gold, 655 g/t silver and 0.195% copper. A 15cm wide chip collected across the hanging wall of the shear zone (Sample C00065665) returned 192 grams per tonne (“g/t”) gold, 225 g/t silver and 0.190% copper. The high gold concentrations reported from this shear zone suggests that the Cannonball Target also has significant potential for the discovery of high grade gold mineralization along the margins of the circular feature.The map attached to this press release show the general locations of the observed sheeted veining, alteration zones and mineralized areas. More detailed descriptions of the findings from the consultant’s analysis will be reported as they become available and can be obtained by contacting the Company and/or visiting www.goldrea.com. An updated 43-101 compliant report is currently being prepared.Observations from across the Cannonball Target Area include identification of an extensive, large-scale propylitic alteration zone that has affected the volcanic and sedimentary units and confirmation that intrusive rocks are present in the southeastern part of the circular feature. Localized intense sericite, quartz sericite pyrite, and silicified zones occur overprinting the propylitic alteration. Magnetite-hematite-quartz sheeted veining is common throughout the property with varying sulphide content. Copper-gold – silver anomalies are generally associated with increased sheeted vein density.Although interpretations of the 2020 geological observations at the Cannonball Target are still preliminary, they are consistent with porphyry copper-gold models currently being used in the Golden Triangle and there is a notable correlation of sheeted vein orientations with the perimeter of the circular magnetic anomaly.Based on these observations the Company’s consultants have recommended IP surveys and follow up drill testing be carried out during the 2021 field program.Receding glaciers in the Cannonball target area have exposed the western 2/3 of the circular magnetic feature and the associated sheeted vein systems in a plateau area in the western portion of the target area. The eastern part of the Cannonball target area is covered by thin remnants of the original ice sheet. The work being undertaken by Goldrea on the Cannonball Target first systematic evaluation of this area.The recently acquired Adrian property, which adjoins the northern boundary of the Cannonball property, more than doubles Goldrea’s footprint in this prolific area and also hosts significant mineralization. According to BC Minfile records a series of gold bearing quartz-sulfide veins were discovered on 1988. The vein-style mineralization is reported to occur over an area of approximately 1,000 meters by 300 meters. Nine grab samples collected in 1988 reportedly returned grades ranging from 2.7 g/t to 30.0g/t. In 1990, reconnaissance core drilling consisting of ten shallow drill holes totaling 447 meters confirmed the presence of quartz-sulfide veins within a generally northeast-trending structural zone extending for over a kilometer, and returning gold values ranging from trace amounts to 20.64 g/t over 0.5 meters. A qualified person has not yet verified the reported historical results however, as part of the 2020 field program the Company’s consultants collected samples from one of the known mineralized areas within the Adrian claims for analytical and petrographic work. Results will be reported as they become available.Jim Elbert, Goldrea’s President and CEO, comments, “The results of the Company’s 2020 field program clearly demonstrate that the targets identified on Goldrea’s Cannonball property warrant a high level of exploration work as is being carried out by our neighbours, Seabridge Gold and Enduro Metals. The summer program gave us very encouraging sampling numbers and alteration mapping, and also confirmed a potential preserved porphyry system on our Cannonball Property. We will be announcing a financing consisting of flow-through and hard dollars to conduct IP surveys and the first systematic drill testing on the Cannonball and Adrian Properties. The Company plans on taking advantage of the full 2021 drilling season in the Golden Triangle and give this exciting property the chance to reveal its makeup.”Carl von Einsiedel (P. Geo.), is a non-independent Qualified Person within the meaning of National Instrument 43-101 Standards, and has prepared, reviewed and approved the scientific and technical information in this press release.For more information, please contact: James Elbert, President and CEO Telephone: (604) 559-7230 Email: email@example.comThe CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c4b3be68-6f88-4b1b-b551-b73e169d792e
Southwest Virginia-based and woman-led, early stage clean technology company delivers a patented water purification solution that cleans water from virtually any sourceRichmond, VA, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) and The Pearl Fund today announced that CIT GAP Funds and The Pearl Fund L.P. led a $3 million seed round investment in Micronic Technologies, Inc, with participation from CAV Angels. Located in a Southwest Virginia Opportunity Zone, Micronic Technologies is a developer of a breakthrough Zero Liquid Discharge (ZLD) water purification technology that reduces wastewater volume by 95% and removes over 99% of contaminants in a sustainable and cost-effective way that hasn’t been achievable until now.Billions of people worldwide do not have access to clean water, yet U.S. households waste over 1 trillion gallons of water each year and 80% of water used in industries today is not reused. It is estimated that by 2030, demand for water will exceed sustainable supplies by 40%. In response to this global challenge, Micronic Technologies treats a variety of use cases for clean water, including wastewater treatment and reuse from oil and gas, mining, agricultural, food, beverage and pharmaceutical industries, as well as municipal landfills.“As the nation's premiere qualified Opportunity Zone venture capital fund, The Pearl Fund is chartered to find high-potential, high-impact tech startups and game-changing entrepreneurs that can generate at least a 10X tax-free return for our investors,” said Brian Phillips, Managing Partner, The Pearl Fund. “Micronic Technologies is exactly the kind of Opportunity Zone investment we target. Woman-led and located in an area often overlooked by the majority of VCs, Micronic Technologies has exceptional potential for investor return and will have a significantly positive impact on the environment.”CIT GAP Funds, named Virginia’s Most Active Investor for the past six years by CB Insights, places early-stage equity investments in Virginia’s high-growth based technology, life science, and cleantech companies. Micronic Technologies’ patented solution, Tornadic One-PassTM cleans water from virtually any source more efficiently, effectively and at a lower cost than any other technology on the market.“We are pleased to join The Pearl Fund in this investment for Micronic Technologies. This round builds on our initial Virginia Founders Fund seed financing for the company in 2019, and proves out the application of an Opportunity Zone investment framework for funding tech startups and founders in traditionally underserved geographies,” said Tom Weithman, Managing Director, CIT GAP Funds. “Opportunity Virginia has also played a role in Micronic’s success and execution, and we look forward to replicating the Micronic investment model in other Opportunity Zone investments.”Rich Diemer, Co-Chair and Treasurer, CAV Angels, added, “The CAV Angels is pleased to take part in this Micronic seed round alongside The Pearl Fund and CIT. We invest in world-class early-stage companies in support of the UVA entrepreneurial ecosystem. UVA-Wise sponsored Micronic Technologies in the Southwest Virginia region for their first Tobacco Commission Grant to develop their technology and our investment bolsters Micronic’s exciting commercial and environment enhancing prospects.”According to the White House Opportunity and Revitalization Council’s May 2020 Opportunity Zones Best Practices Report to the President, revitalization projects in Opportunity Zones have delivered economic and social benefits to over 50 million Americans living in economically distressed communities.“Micronic Technologies is determined to make a lasting impact on the world by creating a technology that not only cleans water from any source, but also enables water to be treated on the spot,” said Karen Sorber, CEO and co-founder, Micronic Technologies. “CIT GAP Funds, The Pearl Fund, and CAV Angels will play a significant role in the commercialization of our technology and the future growth and success of our company. As a result, we also hope to help the region by creating new high-paying manufacturing jobs in Southwest Virginia.”To view a map of Virginia's Opportunity Zones, click here.About Micronic Technologies Based in Southwest Virginia, Micronic Technologies is a woman-led and co-founded small business and the developer of Tornadic One-Pass™, a sustainable water purification technology. Tornadic One-Pass™ removes virtually all contaminants from practically any water source and cleans to federal and state quality standards, in one pass without using membranes, filters, or chemicals. For more information, please visit www.micronictechnologies.com. About The Pearl Fund The Pearl Fund was ranked one of the top 10 Opportunity Zone funds by Forbes. It is the first Opportunity Zone venture capital fund, investing in early-stage startups and their founders. Led by serial entrepreneur and global economic development expert Brian Phillips, who has been a founding member of over a dozen startups (two IPOs, two acquisitions and one sold via an MBO), The Pearl Fund focuses on high-potential businesses that can yield a 10X+ tax-free return along with positive social and economic impact in OZ communities. As a pioneer in OZ investing beyond real estate, The Pearl Fund has also developed a growing network of affiliated business-focused Pearl Funds, each with a particular geographic and industry lens. For more information, visit www.thepearl.fund.About CAV Angels CAV Angels is a non-profit angel group that invests in early stage growth companies with a focus on the UVA entrepreneurial ecosystem. We have a primary mission to provide education on investment in private, early stage companies for members of the UVA family. For more information please see our website at www.cavangels.com.About CIT GAP Funds CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, cleantech, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, CIT GAP Funds has deployed $30.2 million in capital across 237 investments, including 16 companies in designated Opportunity Zones. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org.About the Center for Innovative Technology (CIT) Investing in Virginia's Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia. Founded in 1985, CIT accelerates next generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. Programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement. CIT’s CAGE Code is 1UP71. For more information please visit www.cit.org. You can also follow CIT on Twitter, LinkedIn, and Facebook.About the Center for Innovative Technology (CIT) Investing in Virginia's Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia. Founded in 1985, CIT accelerates next-generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement. CIT’s CAGE Code is 1UP71. | For more information, visit www.cit.org or follow CIT on Twitter and LinkedIn. CONTACT: Taylor Hadley CIT GAP Funds (LaunchTech Communications) 978-877-2113 firstname.lastname@example.org Alysha Light The Pearl Fund (FLIGHT PR) email@example.com Sara Pomakoy Poole Center for Innovative Technology (CIT) firstname.lastname@example.org
(Bloomberg) -- A machine-guided fund which has almost doubled the performance of the S&P 500 Index this year is casting serious doubt over a sustained rebound in cyclical stocks.The AI Powered Equity ETF (AIEQ), an exchange-traded fund driven by artificial intelligence, has risen about 13% year-to-date versus a 7% gain in the S&P 500.The fund’s “manager,” a model which runs 24/7 on IBM Corp.’s Watson platform, is heavily overweight health care and consumer discretionary shares, according to data compiled by Bloomberg. It has a modest overweight in technology and is underweight financials and industrials.“However the algorithm is picking stocks it is delivering decent returns, albeit with some air pockets along the way,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note Tuesday. “It isn’t buying the reopening/cyclical trade as we start the final quarter of 2020,” but at the same time, “it is not running to hide in Big Tech.”Quant ModelThe quantitative model behind the $96 million fund, developed by EquBot, assesses more than 6,000 U.S. publicly-traded companies each day. It scrapes millions of regulatory filings, news stories, management profiles, sentiment gauges, financial models, valuations and bits of market data, and then chooses about 30 to 70 stocks for the fund, which is run by ETF Managers Group LLC.Launched in October 2017, the AI Powered fund has gained about 27% since inception, compared with a 35% rise for the S&P 500.“We read its message as ‘tech will work, just not the go-to names from earlier this year, and be very careful with cyclicals,” said Colas. “We’re more optimistic than that, but looking at the AIEQ portfolio is a good reality check nonetheless.”(Updates performance details, adds extra context.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Global Satellite-based Earth Observation Market will grow by USD 4.51 bn during 2020-2024
(Bloomberg) -- General Motors Co. is moving ahead in its talks with startup Nikola Corp. over a proposed partnership to make electric and fuel-cell-powered trucks, a senior executive at the Detroit automaker said.GM and Nikola announced a tentative agreement last month but have yet to come to final terms. Nikola’s stock price has plunged in the wake of allegations of deception by a short seller, raising questions from investors about GM’s due diligence and commitment to a deal.“Right now we are going forward,” Mark Reuss, GM’s president, said in a Bloomberg TV interview taped Oct. 16. In what he called “the exciting piece” of those discussions, Reuss said GM plans to share hydrogen-fuel-cell technology developed with Honda Motor Co. with Nikola for use in both a pickup and big-rig trucks.“They are taking what I believe is the best fuel cell in the world -- with our fuel cell that is made in our joint venture with Honda right here in Michigan -- and taking that fuel cell and looking at deploying it in the heavy-duty transport market with the large trucks -- the Class 7 and 8s -- and also in the light-duty Badger truck,” he said.Nikola shares pared a gain of as much as 8.4% to trade up 3% to $21.35 as of 9:46 a.m. in New York.The proposed deal would give GM an 11% stake in Nikola and allow the startup to use its hydrogen-fuel-cell technology. GM also said it plans to manufacture the Badger pickup truck for Nikola, which initially would be battery-electric and eventually fuel-cell powered.Reuss said the Badger will have a different powertrain from the one GM will use in its new Hummer pickup, which will run on the Ultium battery-pack system the Detroit automaker co-developed with LG Chem Ltd.“We won’t sell and market that truck. That is what Nikola is doing,” Reuss said. “It’s still a fuel-cell electric truck but quite different from what we are offering on our Ultium packs on the pure electric Hummer.”(Updates share price in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Boston’s Batterymarch Group and Andrew Haigney now offering fiduciary level real estate brokerage and advisory services.
This article will reflect on the compensation paid to Andrew Cogan who has served as CEO of Knoll, Inc. (NYSE:KNL...
(Bloomberg) -- The series of mergers reshaping the beleaguered U.S. shale oil industry accelerated Tuesday when Pioneer Natural Resources Co. agreed to buy Parsley Energy Inc. for $4.5 billion in stock, creating one of the largest producers in the Permian Basin.The deal came a day after ConocoPhillips announced its $9.7 billion takeover of Concho Resources Inc. and underscores the view that oil companies must be big to survive in a new, pandemic-maligned world that’s oversupplied with crude. Earlier this month Chevron Corp. completed its takeover of Noble Energy Inc., while Devon Energy agreed to merge with shale driller WPX in late September.The sector is in full-on merger mode in response to oil prices that have been stuck at around $40 a barrel in recent months after the Covid-19 pandemic hit global demand. While that’s put pressure on energy companies around the world, the pain is most severe in U.S. shale. The industry is weighed down by massive debts, the result of years of break-neck expansion that made America the largest crude producer but also disappointed investors with poor returns.Energy has slumped to less than 2% of the S&P 500 Index, down from more than 11% a decade ago, even as the wider market rose to record levels.“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer Chief Executive Officer Scott Sheffield said on a conference call with analysts. The “real survivors” will be Pioneer-Parsley, EOG Resources Inc., ConocoPhillips, and “maybe” Hess Corp. over the long-term, he said. “The best companies have been picked off the past few weeks.”Of those companies left, there’s speculation that billionaire Harold Hamm’s Continental Resources Inc. may come to some agreement with Marathon Oil Corp., Paul Sankey, a New York-based analyst at Sankey Research said in a note. Other mid-size players that haven’t made deals this year include Diamondback Energy Inc., Cimarex Energy Co. and Ovintiv Inc.Pioneer’s purchase of Parsley will save about $325 million a year in debt repayments and cost reductions while also adding to free cash flow, the company said. But size is also key to the transaction’s success, according to Sheffield. “You’ve got to be over $10 billion market cap.”Size matters in U.S. shale because of economies of scale, lower overheads, increased bargaining power with suppliers but also, crucially, greater access to debt markets. Many companies are having to contend with falling production for the first time because they lack the financial resources to drill the new wells needed to offset rapid declines from older ones. About 35% of Pioneer’s production drops off each year without fresh drilling, while at Concho, the rate is closer to 40%.A Pioneer-Parsley combination creates one of the largest players in the prolific Permian Basin of West Texas and New Mexico, which produces more oil output than every OPEC member except Saudi Arabia. The newly enlarged Pioneer’s production in the shale formation would grow by more than 40% to the equivalent of roughly 558,000 barrels of oil a day, according to regulatory filings and data from energy analysis firm Enverus compiled by Bloomberg, rivaling only Occidental Petroleum Corp. and Chevron Corp.Shares of Parsley fell 3.4% to $10.26 at 9:45 a.m. in New York, while Pioneer was down 1.2% to $82.56.Initial reports of the deal talks between Pioneer and Parsley raised eyebrows among some onlookers because Pioneer CEO Sheffield is the father of Parsley chairman Bryan Sheffield. More of the family’s wealth is tied up with Parsley than Pioneer, according to data compiled by Bloomberg. The two were not involved in the negotiations, Pioneer executive Rich Dealy said on the call.The deal already appears to have strong support from two of Parsley’s top shareholders. Bryan Sheffield’s stake in Parsley is amplified by his holdings of Class B shares, which give him overall voting power of 7.8%. Quantum Energy Partners holds a further 17% of the stock and said it supports the deal.The premium may be a slight disappointment to some Parsley investors, analysts at Tudor, Pickering, Holt wrote in a note to investors.“At first blush, we think PXD is getting a solid deal as added leverage more than offset by Parsley’s higher free cash flow given low premium paid,” they said. “The combined organization will be in a stronger position to garner capital relative to peers given the strength of the balance sheet and quality of long-term inventory.”(Updates share prices in 10th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Acer's newest Swift is the first to showcase Intel's Xe Max graphics.
Acer's newest ConceptD mid-tower is a good mid-level pro desktop. The 7-series laptops, however, are the real eye-catching machines.
Capital markets are powerfully rewarding companies with strong purpose, an outcome that has strengthened since the onset of Covid-19. The CEO Investor Forum, a global organization preparing corporate leaders to navigate the quickly changing financial landscape and the purpose-driven economy, released The Return on Purpose: Before and During a Crisis in partnership with Fortuna Advisors, a management consulting firm focused on helping clients achieve their value creation ambitions by redefining how they create value today and improving confidence to invest behind that.
Fortune 1000 Global Information and Insights Company Selects Pavilion for SQL Server Analytics on Microsoft Windows
PCBB Joins SWIFT global payments innovation (gpi) network to deliver faster cross-border payments to its international banking customers.
The White House and Democrats in the U.S. Congress moved closer to agreement on a new coronavirus relief package on Tuesday as President Donald Trump said he was willing to accept a large aid bill despite opposition from his own Republican Party. The Treasury will also sell $17 billion in five-year Treasury Inflation-Protected Securities (TIPS) on Thursday.
Lawyers for Belgian child killer Marc Dutroux will postpone a long-planned parole request after a psychiatric report concluded he remains dangerous, a member of his legal team said on Wednesday.
(Bloomberg) -- Netflix Inc. tumbled Wednesday after missing Wall Street’s estimates for subscribers, renewing doubts about its ability to maintain growth as pandemic lockdowns go away and competition intensifies.The world’s largest paid streaming service added just 2.2 million new subscribers in the third quarter, it said Tuesday. That was well short of the 3.32 million predicted by analysts, as well as the company’s own more conservative projection. Netflix also predicted that it will sign up 6 million new subscribers this period, below the 6.54 million Wall Street estimate.Netflix shares fell as much as 6% to $494 in New York trading Wednesday. The stock had been up 62% this year through Tuesday’s close, giving the company a market value of $231.7 billion.Netflix added 25.9 million customers in the first half of the year, its strongest start ever. Yet throughout the pandemic, the company has warned that the subscriber boom wouldn’t last -- and in fact, that its surge in new customers could suppress growth in the future.“We expected and knew there would be some level of slowdown,” Chief Financial Officer Spencer Neumann said during a video discussion after the results were released.But predicting subscriber growth in such a climate has proved trickier than ever. While Netflix’s forecasts for the second quarter proved too cautious, its outlook for the third quarter was too rosy.Many viewers -- especially in Europe and Asia -- have returned to something closer to normal day-to-day life, reducing the amount of time they can spend on Netflix binges. And pro sports have returned to Americans’ TV screens. All of that hampered subscriber gains last quarter, with growth suffering in all three regions.“It’s the sign of a maturing business,” said Jim Nail, an analyst at Forrester Research. “Infinite growth can’t go on forever.”It was Netflix’s weakest third-quarter gain since 2015, back when the company wasn’t yet operating in most of the world. In its letter to investors, management blamed a “pull forward” effect: Rapid growth in the first half of the year stole from results in more recent months. The streaming service also warned investors that it would see slower growth in the quarters ahead.Program PipelineNetflix has still outshined many TV networks and services, which have struggled to find new programming to air during the pandemic. The company has released a full slate of movies, TV shows and documentaries. And through nine months of 2020, the Los Gatos, California-based company has added 28.1 million paid memberships, topping all of last year.The company is on pace to add 34 million users in 2020, its strongest year of growth ever, and surpass 200 million customers in total.Movies and documentaries were a bright spot in the quarter. “The Old Guard,” an action film starring Charlize Theron, was its most-watched title in the third quarter, followed by two other features, “Project Power” and “The Kissing Booth 2.” “American Murder: The Family Next Door,” released in September, is on pace to be the service’s most-watched documentary ever.The performance of its original series was less strong, which may help explain why the company just restructured its TV division. And its most popular shows are still primarily in English, potentially limiting its overseas expansion.Netflix played down the impact of the pandemic on its pipeline of new shows. The company said it has completed 50 projects since the initial shutdown in production, and it will release more programs next year than it did in 2020.“We’re confident that we’ll have an exciting range of programming for our members, particularly relative to other entertainment service options,” the company said.Saving CashThe slowdown in production does mean Netflix will post positive annual free cash flow for the first time in years. Though the company reports a profit, it has still been burning through cash to fund its expansion into new territories and its production of new programs.While the company said free cash flow will be negative next year, it won’t need to borrow much money anymore. It now has enough cash on its balance sheet to fund its operations for more than 12 months.For years, critics have said Netflix will run out of money. That danger now appears to have passed. More and more, the company looks like a stable studio -- and increasingly, a dominant force in Hollywood.“We can safely say we can self-finance our growth without accessing capital markets,” Netflix’s Neumann said.(Updates with shares in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
According to Coherent Market Insights, the global benzocaine market is estimated to be valued at US$ 128.9 million in 2020 and is expected to exhibit a CAGR of 2.70 % over the forecast period (2020-2027).