Outlook for April-June quarter GDP amid Covid

Crowds are seen shopping during a weekly market in Kandivali.

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India is expected to see double-digit growth in the three months to June – but economists warn that the data does not give the full picture of the country’s growth path.

South Asia’s largest economy published fourth quarter GDP data on Monday which recorded a growth of 1.6% compared to the same period last year, mainly driven by Government Spending and Manufacturing Growth. For the year as a whole, GDP is expected to decline by 7.3%, compared to growth of 4% in the previous year.

India has been battling a devastating second wave of the coronavirus since February, which accelerated in April and peaked in early May. The infection forced most of India’s developed nations to take localized lockdown measures to slow the spread of the virus.

“With the existing lockdowns, we assume that the economy will tend to slow down in the future,” said Madan Sabnavis, chief economist at Care Ratings, on CNBC’s “Road signs Asia.

“The numbers we get for the first quarter of fiscal 2022 – the quarter that ends in June – can be very misleading,” he said. India’s fiscal year starts in April and ends in March of the following year.

On a (a) sequential basis we will see a double digit decrease in seasonally adjusted data, but you will see strong double digit growth year over year.

In the April-June quarter of last year the economy contracted 23.9% as a months of national lockdown hammered the country. Economists argue that the reported prior-year figure is likely to show double-digit growth for the current quarter, but the strong figure is due to the low base from last year’s negative pressure.

“On a (a) sequential basis, we will see a double-digit decline in seasonally adjusted data, but you will see strong double-digit growth year-over-year,” Radhika Rao, an economist with DBS Group in Singapore, told CNBCs on Tuesday “Squawk Box Asia.

“That’s because it was down 24% at the same time last year,” she added.

However, experts agree that the economic impact of the second wave may not be as severe as it was last year. India has so far avoided another national lockdown, allowing states to implement local shutdowns instead. Economists agree that the country is generally on track to revive growth, but with a delay.

The data likely shows that consumption sequentially lost momentum this quarter due to the second wave as households had to prioritize their hospital and medical expenses, Rao said.

“So domestic demand, which is the main component of growth, is not going to look that good. There are also high-contact services, most of which have been closed, “she said, adding,” Now only until June, some states are starting to talk about reopening. But it is certainly a very staggered and very unpredictable path in terms of lifting the restrictions. “

Many economists have trimmed their full fiscal 2022 growth projections for India. Goldman Sachs, for example, cut its forecast for real GDP growth for the full year from 11.1% to 9.9%.

Esports Leisure Group to Host Third Quarter Fiscal 12 months 2021 Monetary Outcomes Name on Could 17 at 4:30 p.m. ET

TipRanks

3 trading stocks at rock bottom; Analysts say “buy”

Investing is all about profits, and part of generating profit is knowing when to start the game. The old saying goes that one should buy cheap and sell high, and while it is tempting to simply devalue such clichés, they have passed into the common currency because they embody a fundamental truth. Buying low is always a good place to start when building a portfolio. The trick, however, is to identify the right stocks to buy cheap. Prices fall for a reason, and sometimes that reason is a fundamental obscurity. Fortunately, Wall Streets analysts are busy separating the chaff among the market’s cheap stocks, and some top stock pundits have flagged multiple stocks for big gains. We used the TipRanks database to pull up the data and ratings for three stocks that are currently cheap but may be looking to make a profit. They have received positive reviews and, despite their stock devaluation, hold buy ratings and have an upside potential of over 80%. Vapotherm, Inc. (VAPO) First off, Vapotherm is a medical device manufacturer specializing in high flow, heated, humidified nasal cannulas. These are therapeutic breathing aids with which oxygen-containing air can be delivered directly to the patient’s nose. By heating and humidifying the air, the unpleasant release of dry oxygen is reduced. As expected, Vapotherm has seen heavy sales during a respiratory disease pandemic in recent months – but its share price has been pulling back since early February. Paradoxically, the two events are related. First, Vapotherm’s financial results for the first quarter of 21 were positive. The company’s revenue increased 69% year over year to $ 32.3 million, and Precision Flow base unit installations worldwide increased 73% over the same period. The company’s net loss for the quarter of $ 5.2 million was an improvement on a loss of $ 10.2 million for the year-ago quarter. On the negative side, VAPO shares have fallen from their high in early February. The decline is substantial; The stock has fallen 50% since its peak and is down 34% since the start of the year. The decline in the stock’s value reflects concerns that the company’s flagship is oversold and that customers have bought more equipment than would be needed in normal times for fear of COVID-related respiratory distress. Such is the case of Piper Sandler analyst Jason Bednar. “Stocks have fared significantly worse since early February as many investors questioned the bolus usage dynamics from Precision Flow systems sold to hospitals last year. We understand the logic here, especially for investors with a shorter time horizon, but with a lot of that concern is apparently already being reflected in the stock at current levels. We believe the upside opportunity far outweighs the risk of further downtrend, ”commented Bednar. The analyst added, “We also believe that investors waiting for occupancy trends to bottom out will ultimately miss an initial surge that could occur if HVT 2.0 makes a contribution with a rollout later this year and the market for HVT 2.0 expands to take a clearer shape in 2022 (especially EMS and home care). “To that end, Bednar rates VAPO as overweight (i.e. buy) and its target price of $ 32 implies a robust uptrend of 81% im next year. (To see Bednar’s track record, click here.) Overall, Strong Buy’s unanimous consensus rating for this stock, backed by 4 recent analyst reviews, makes it clear that Bednar is not alone in its bullish view. The average price target here, USD 39, is even more optimistic and indicates an upward movement of ~ 122% from the current trading price of USD 17.65. (See VAPO stock analysis on TipRanks) Emergent Biosolutions (EBS) The next stock we look at, Emergent, is a biopharmaceutical company. The company has several products on the market, including a NARCAN nasal spray for use in patients with opioid overdose and vaccines for smallpox, anthrax and other diseases. Emergent’s development pipeline includes the pediatric cholera vaccine Vaxchora, which is currently in a Phase III study. Several programs, including an anthrax vaccine candidate, a chikungunya vaccine, and a seasonal flu shot, have completed Phase II and are preparing for Phase III. One of Emergent’s key programs is the contract development and manufacturing service, which is being extended to other pharmaceutical companies to manufacture vaccines they have developed. Emergent is part of Johnson & Johnson’s production chain for a COVID-19 vaccine as part of a CDMO plan. The latter is an important point. The J&J vaccine has been linked, at least in some reports, to serious adverse events, particularly blood clots in otherwise healthy recipients. This has resulted in a delay in the manufacture of the vaccine and, consequently, a delay in receiving payments from J&J. This in turn impacted the company’s financials in Q1 21, resulting in lower than expected sales and earnings. Investors are concerned, and the stock is down 33% since the start of the year. Despite the setback, benchmark analyst Robert Wasserman retains a buy rating for EBS shares and a price target of $ 120. If this is correct, the analyst’s target could be an annual return of 101%. (To see Wasserman’s track record, click here.) “EBS remains solidly profitable and, despite lowered expectations for J&N and AZ vaccine deals, expect solid sales growth this year. These stocks remain a bargain on our CDMO / Bioprocessing and could offer value investors a significant upward trend if circumstances change or new business can be made at short notice, “said Wasserman. Overall, the street currently has a cautiously bullish outlook for the stock. The analyst consensus rates EBS as a moderate buy based on 3 buys and 2 holds. The stock is priced at $ 59.59, and the average target price of $ 89.67 suggests upside potential of ~ 50% over the next 12 months. (See EBS stock analysis at TipRanks) Haemonetics Corporation (HAE) For the last stock on our list, we stick with the medical industry. Haemonetics manufactures a range of blood and plasma collection and separation products, software for machine operation and service contracts for maintenance. In short, Haemonetics is a single point of contact for blood donation centers and hospital blood banks. Blood products are a $ 10.5 billion market in the US alone, accounting for 80% of plasma, and Haemonetics has become an integral part of that business. Haemonetics steadily recovered from a decline in sales at the height of the corona crisis, and third quarter fiscal 2021 earnings showed solid results: sales of $ 240 million and earnings per share of 62 cents. While sales fell 7.3% year over year, earnings per share rose 6.8%. Even so, the stock fell sharply between April 15 and April 20, losing 42% of its value in that short time. The reason was simple. One of Haemonetics’ largest customers, CSL Pharma, announced that it has no plans to renew its contract with HAE. This contract for the supply, use and maintenance of Haemonetics’ PCS2 plasma collection system was valued at US $ 117 million and represented approximately 12% of the company’s sales. The cancellation comes with a one-time charge of $ 32 million for other related losses. Fortunately for HAE, the CSL contract doesn’t expire until June 2022, so the company has time to plan and prepare. Analyst David Turkaly reported on JMP Securities: “The announcement gives HAE some time (~ 15 months) to prepare for the expiry and we find that management is consistently strengthening its financial position through levers such as complexity reduction and product has optimization to make significant cost savings, and more of these will likely be used up-front to make up for customer loss. The analyst continued, “While this disappointing decision could affect HAE’s plasma positioning with other fractionators, we continue to believe that giving customers the ability to collect more plasma in less time – and having HAE is a very compelling value proposition.” still contracts and maintains a significant market. Share with many of the major plasma players. ”Accordingly, Turkaly rates HAE as outperforming (ie buying) with a target price of $ 110. This number implies an upward movement of 86% from the current level. (To see Turkaly’s track record, click here.) Overall, HAE has a consensus rating for moderate buying, based on 7 ratings breaking down 5 to 2 in favor of buying across the holds. The stock trades for $ 59.02 and has an average target price of $ 108.67, which is an uptrend of ~ 84% for a year. (See HAE stock analysis at TipRanks.) To find great ideas for trading stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

Illinois economic system shrinks 4% in 2020 regardless of 4th quarter progress Leisure, hospitality sectors hardest hit

SPRINGFIELD – The Illinois economy contracted 4 percent in 2020 as the COVID-19 pandemic wreaked havoc in many sectors, although there were signs of a recovery towards the end of the year.

These preliminary figures, released last week by the U.S. Department of Labor’s Bureau of Economic Analysis, showed that the leisure, hospitality and hospitality sectors were hit hardest by the pandemic, seeing economic output declined nearly 30 percent for the year.

This was due to the forced closure of bars, restaurants, theaters, amusement parks and most tourist attractions in the early stages of the pandemic, as well as the cancellation of major conventions and business meetings.

“You look at the different industries, many of which have been affected by COVID, but I don’t think any industry has been as hard hit as hotels and tourism,” Michael Jacobson, executive director of the Illinois Hotel and Lodging Association, said during an interview . “We saw the impact kick in before some people even realized what COVID was because conventions and large-scale meetings were canceled. And unfortunately, the same events that really are the lifeblood of our industry will be some of the last events, which start again. “

According to BEA, real GDP fell in all 50 states and the District of Columbia in 2020. Utah performed best, shrinking 0.1 percent, while Hawaii’s state economy contracted 8 percent. The average contraction rate for the US as a whole was 3.5 percent.

Housing and meal services contributed to the declines in all 50 states and DC, and they were key contributors to the declines in 38 states plus DC

Other industries that suffered in Illinois were transportation and storage, down 14 percent; Non-government services down 12.3 percent; Production down 7.3 percent; Wholesale Down 5 Percent; and retail by 2.3 percent.

The only bright spot in the state’s economy was the agricultural sector, which grew nearly 68 percent year over year. This was largely the result of a bad crop year in 2019, followed by a good one in 2020.

However, if the numbers are broken down on a quarterly basis, the biggest decline in economic output was in the April-June 2nd quarter, when Illinois was under the toughest economic restrictions. The economy began to pick up in the third quarter and grew at an annual rate of 3.5 percent in the fourth quarter.

However, the recovery has not been felt in all sectors and the leisure and hospitality industries continue to suffer.

Jacobson says he doesn’t expect the hotel industry to fully return to pre-pandemic levels by anytime in 2024. The question for his industry is how many hotels could financially survive up to this point in time.

“I mean, you’ve seen some very notable hotel names across the state, with the Palmer House being one of our largest hotels in the state and obviously the most notable one to have been foreclosed,” he said. “But if a hotel this size owned by one of the big real estate investment firms can be foreclosed, imagine how badly the little folks who own most of the hotels in our state are suffering.”

Capitol News Illinois is a not for profit, impartial news service that covers the state government and is distributed to more than 400 newspapers nationwide. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.

Authorities cash seen powering U.S. economic system in first quarter

US economic growth is likely to have accelerated in the first quarter, driven by massive government aid to households and businesses. This sets the course for what is likely to be the strongest performance this year in almost four decades.

The United States’ economy is recovering faster than its global rivals thanks to two additional COVID-19 bailouts from Washington, as well as a reduction in pandemic fear that has boosted domestic demand and enabled service businesses like restaurants and bars to rift.

Although the expected revival in gross domestic product in the final quarter would leave production just below its level in late 2019, the economy remains at least a few years away from fully recovering from the pandemic recession that began in February 2020.

The Department of Commerce will release its snapshot of GDP growth for the first quarter on Thursday at 8:30 a.m. EDT (1230 GMT).

“It’s going to be a solid GDP number,” said Ryan Sweet, senior economist at Moody’s Analytics in West Chester, Pennsylvania. “It’s a small milestone, in many cases, that we need to hit before we can say we have fully recovered from the recession.”

According to a Reuters poll of economists, the economy is likely to have grown 6.1% on an annual basis in the first three months of the year. This would be the second fastest rate of GDP growth since the third quarter of 2003 and would follow a rate of 4.3% in the fourth quarter.

However, the survey was conducted before March durable goods orders, goods trade deficit, and wholesale and retail inventory data. The economists at Goldman Sachs have initially lowered their GDP growth estimate based on the data on durable goods by a tenth of a percentage point to 7.4%.

The estimate based on the goods trade deficit and inventory data was then increased to 7.7%.

Former President Donald Trump’s administration provided nearly $ 3 trillion in aid at the start of the pandemic, sparking record GDP growth in the third quarter of 2020. Additional incentives of nearly $ 900 billion followed in late December. President Joe Biden’s administration offered another $ 1.9 trillion bailout in March that sent one-time checks of $ 1,400 to skilled households and an unemployment benefit of $ 300 through early September. Dollars granted.

The Federal Reserve acknowledged burgeoning domestic activity Wednesday, but the US Federal Reserve gave no indication that it was ready to cut its extraordinary support for the recovery. Continue reading

FOLLOW-UP NEED

The rapidly accelerating economy could dampen some moderate Democrats’ enthusiasm for Biden’s ambitious economic agenda. Biden unveiled a comprehensive $ 1.8 trillion package for families and education in his first joint speech to Congress on Wednesday. Republicans are against more incentives and are now concerned about the growing debt. The new package and a previous infrastructure and employment plan are worth around $ 4 trillion, competing with the annual federal budget.[nL1N2ML15K}[nL1N2ML15K}[nL1N2ML15K}[nL1N2ML15K}

Some economists fear that massive government funding could boost inflation. Many economists, including Fed Chairman Jerome Powell, anticipate temporary higher inflation, arguing that the labor market will remain 8.4 million jobs below its February 2020 high.

According to a Reuters poll, a separate Labor Department report on Thursday is expected to see 549,000 people claiming state unemployment benefits last week. Although claims have fallen from a record 6.149 million in early April 2020, they remain well above the 200,000-250,000 range that is considered compatible with a healthy labor market. Approximately 17.4 million Americans received unemployment benefits in early April.

At the beginning of the second quarter, the economy continued to prevail. Consumer confidence hit a 14-month high in April thanks to fiscal stimulus and the expansion of the COVID-19 vaccination program to all American adults. That helps unleash pent-up demand.

Americans have accumulated at least $ 2 trillion in excess savings. Many economists expect the economy to fully recover from the recession by the end of 2023. They expect growth could top 7% this year, which would be the fastest since 1984. The economy contracted 3.5% in 2020, its worst performance in 74 years.

“Assuming vaccines against new variants of the virus remain effective, the economy should see significant growth for the remainder of the year,” said Kevin Cummins, chief US economist at NatWest Markets in Stamford, Connecticut.

“The combination of extraordinarily high fiscal stimulus, extremely accommodative monetary policy, an extremely positive supply shock as the economy reopens, and a pile of excess savings to support consumption makes us extremely optimistic about GDP growth in 2021 and 2022.”

The growth in the first quarter was likely driven by consumer spending, which is expected to accelerate after almost holding back in the last three months of 2020. Another quarter of double-digit growth is expected for equipment business spending as well as recovery from investments in non-residential structures such as mine exploration, shafts and wells.

Residential investment is likely to have contributed to GDP growth for the third quarter in a row. However, trade is likely to be a drag for the third straight quarter as some of robust domestic demand has been saturated by imports. Heavy consumption meant fewer unsold goods in inventory, which likely resulted in inventory being subtracted from GDP growth.

Our standards: The Thomson Reuters Trust Principles.

Canada M&A units file for quarter on cross-border offers, simple cash

By Maiya Keidan

TORONTO, April 7 (Reuters). Canadian M&A activity in the first three months of the year catapulted to all-time highs as dealmaking recovered from the effects of the coronavirus and bankers point to a healthy pipeline of transactions based on easy funding terms.

The novel coronavirus drove mergers and acquisitions (M&A) to a nine-year low in 2020 when companies switched to cash-on-hold. However, the introduction of vaccines and an expected economic recovery are boosting business confidence to close deals, particularly in the US.

“These are definitely the busiest times I’ve seen in my 25-year career,” said Grant McGlaughlin, partner at Fasken law firm. “I don’t think you can hold out at this pace all year, but hopefully Q2 and Q3.”

The quarterly M&A balance sheet hit an all-time high of $ 114.91 billion in the first quarter of 2021, according to Refinitiv. Companies raised $ 19 billion ($ 15.2 billion) through stock sales in the first three months of the year, the highest since the fourth quarter of 2010.

Mike Boyd, managing director and head of global mergers and acquisitions at CIBC, said he doesn’t think he has ever seen capital markets as conducive to mergers and acquisitions as it is now.

“If you look at the debt markets in particular, you have a record low in interest rates and we also have … strength in market capacity” to absorb the size of the deal, he said.

Boyd expects M&A activity to remain high thanks to low interest rates and a strong economic recovery that will continue for at least the next few quarters.

OUTBOUND RUSH

Bank of America Corp.’s BofA Securities Inc, Bank of Montreal’s BMO Capital Markets, and Toronto Dominion Bank’s TD Securities Inc formed the top three banks for mergers and acquisitions.

Canadian Pacific Railway Ltd’s $ 25 billion offer for Kansas City Southern and Rogers Communications Inc’s C 20 billion deal for Shaw Communications Inc topped the list of deals.

The story goes on

Bill Quinn, head of M&A at Toronto Dominion, said while Canadian investors looking outside Canada had declined over the past year due to the pandemic, we are now seeing a “return to normal”.

Outbound deals worth nearly $ 50 billion were made in the first quarter of 2021. This was the second largest quarter on record, with about half coming from the CP transaction.

“In terms of Canadian M&A, we are seeing stronger growth in our market compared to the US,” said Sarfraz Visram, Head of M&A at BMO Capital Markets.

U.S. M&A activity increased 12.2% to $ 869.35 billion in the first quarter of 2021 compared to the fourth quarter of 2020, while Canadian M&A activity grew sequentially at 44.4 during the same period % recorded as refinitive data showed.

“We have now clearly gone around the corner,” said Emmanuel Pressman, partner at the law firm Osler. “It’s partly a renewal of confidence in cross-border M&A flows, both inbound and outbound.”

($ 1 = 1.2536 Canadian dollars) (Reporting by Maiya Keidan Editing by Denny Thomas and Lisa Shumaker)

Drive Shack Inc. Is Bringing Puttery, Its Latest Social Leisure Mini-Golf Expertise to Penn Quarter, Washington D.C.’s Premier Leisure Zone

Bloomberg

One of the world’s greatest hidden fortunes has been wiped out for days

(Bloomberg) – From his seat high above Midtown Manhattan, directly across from Carnegie Hall, Bill Hwang quietly built one of the greatest fortunes in the world. Even on Wall Street, few noticed him – until suddenly everyone did.His private investment firm, Archegos Capital Management, is now at the center of one of the biggest margin calls of all time – a multi-billion dollar fiasco of secret market bets that were used dangerously effectively and at lightning speed made up of stocks dumped by banks in the past few days – ViacomCBS Inc., Discovery Inc. GSX Techedu Inc., Baidu Inc. – all of which had soared this year and sometimes confused traders who couldn’t understand why . Part of Hwang’s portfolio, which has been trading in blocks since Friday by Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co., was worth nearly $ 40 billion last week. Bankers reckon Archegos’ net capital – essentially Hwang’s fortune – had reached north of $ 10 billion. And as divestments continue to grow, estimates of his company’s total positions continue to rise: tens of billions, $ 50 billion, even more than $ 100 billion. It was gone in just a few days. “I’ve never seen anything like it – how quiet it was, how focused, and how quickly it went away,” said Mike Novogratz, a career macro investor and former Goldman Sachs partner who has been trading since 1994. “This must be one of the greatest personal wealth losses in history. “Late Monday in New York, Archegos broke days of silence over the episode:” This is a challenging time for the Archegos Capital Management family office, our partners and employees, “said Karen Kessler, company spokeswoman, in an email Mail sent statement. “All plans are discussed while Mr. Hwang and the team determine the best way forward.” The cascade of trade losses has impacted from New York to Zurich to Tokyo and beyond, leaving myriad questions unanswered, including the big ones: How could anyone take such big risks by so many banks under the noses of regulators around the world get supported. Part of the answer is that Hwang was set up as a family office with limited oversight and then used financial derivatives to disclose large stakes in companies without ever having to collect. Another reason is that global banks embraced him as a lucrative customer, despite a record of insider trading and attempted market manipulation that pushed him out of hedge fund business a decade ago. A student of hedge fund legend Julian Robertson, Sung Kook “Bill Hwang joined Tiger Asia Management and Tiger Asia Partners after settling a 2012 SEC civil lawsuit alleging insider trading and manipulation of Chinese bank stocks. Hwang and the firms paid $ 44 million, and he agreed to be banned from the investment advisory industry. He soon opened Archegos – Greek for “one who leads the way” – and structured it as a family office. Assets are generally exempt from registration as investment advisors with the US Securities and Exchange Commission. So you don’t have to disclose their owners, executives or their administrations – rules to protect outsiders who invest in a fund. This approach makes sense for small family offices, but as they grow to the size of a hedge fund whale, they can still pose risks, this time to outsiders in the broader market. “This again raises questions about the regulation of family offices. Said Tyler Gellasch, a former SEC advisor who now heads the Healthy Markets trading group. “The question is, if it’s just friends and family, why do we care? The answer is that they can have a significant impact on the market, and the SEC’s regulatory system does not clearly reflect that, even according to Dodd-Frank. “Valuable CustomerArchegos entered into trading partnerships with companies such as Nomura Holdings Inc., Morgan Stanley, Deutsche Bank AG, and Credit Suisse Group AG. For a time after the SEC case, Goldman refused to do business with him on compliance grounds, but gave in as rivals who benefited from having his needs met. The full picture of its holdings is still emerging, and it’s not clear which positions derailed or what hedges are part of the reason that Hwang has never filed a 13F report on its holdings that any investment manager who is more than $ 100 million Holds US dollars in US stocks must be completed at the end of each quarter. That’s because he has apparently structured his trades using total return swaps and has essentially put the positions on banks’ balance sheets. Swaps also allow investors to add great leverage to a portfolio. Morgan Stanley and Goldman Sachs, for example, are the largest owners of GSX Techedu, an online Chinese tutoring company that short sellers repeatedly target. Banks can own stocks for a variety of reasons, including hedging swap commitments from doing business with their customers. “Unfortunate Investors” Goldman added 54% to its position in January, according to regulatory filings. Overall, according to a Bloomberg analysis of the submitted documents, banks said they hold at least 68% of the outstanding shares of GSX. The banks owned at least 40% of IQIYI Inc, a Chinese video entertainment company, and 29% of ViacomCBS – all that Archegos had bet on: “I’m sure there are a number of really unfortunate investors out there who have bought these names in in the past few weeks, ”said Doug Cifu, CEO of electronic trading company Virtu Financial Inc., in an interview with Bloomberg TV on Monday. He predicted that regulators will examine whether “a family office should ensure more transparency and disclosure”. With no need to market his fund to outside investors, Hwang’s strategies and performance were kept secret from the outside world. Even as his fortune swelled, the 50-year-old remained unremarkable. Although he had once worked for Robertson’s Tiger Management, he was not known on Wall Street or in New York social circles. Wang is a trustee of Fuller Theology Seminary and a co-founder of the Grace and Mercy Foundation, whose mission is to serve the poor and the oppressed. The foundation had assets of nearly $ 500 million at the end of 2018. “It’s not just about the money, you know,” he said in a rare 2018 interview with an executive at the Fuller Institute, in which he talked about his calling as an investor and his Christian faith. “It’s about the long term, and God certainly has a long-term perspective.” His extraordinary stroke of luck turned early last week when ViacomCBS Inc. announced a second offering of its shares. The stock price fell 9% the next day. The value of other securities believed to be in Archegos’ portfolio based on positions traded in block trading followed. By Thursday’s close of trading, the portfolio’s value fell 27% – more than enough to wipe out an investor’s equity that market participants estimate has been leveraged six to eight times. It also hurt some banks that served Hwang. Nomura and Credit Suisse warned of “significant” losses after the sell-off, and Mitsubishi UFJ Financial Group Inc. has reported a potential loss of $ 300 million to Novogratz. “The psychology of all these levers without risk management is almost nihilism.” (Updates to the latest bank for detailed information in the penultimate paragraph.) For more articles like this, visit bloomberg.com. Subscribe us now to stay ahead of your trusted source of business news. © 2021 Bloomberg LP

Allied Esports Leisure to Report Fourth Quarter and Full 12 months 2020 Outcomes on Wednesday, March 31

IRVINE, California – () – Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company”), a global esports entertainment company, today announced that it has reported its fourth quarter and full year 2020 results after the market closed on Wednesday, December 31st. The company will also host a conference call that day to discuss the results at 2:00 p.m. (PT) / 5:00 p.m. (ET).

Participants can join the conference call by dialing 1-877-407-0792 (US) or 1-201-689-8263 (International). A live webcast of the conference call will also be available on Allied Esports’ Investor Relations website at https://ir.alliedesportsent.com. In addition, the financial information presented in response to the call will be available on Allied Esports’ investor relations website. For those unable to join the conference call, a telephone recording of the call will be available shortly after the call ends until 11:59 p.m. ET on Wednesday, April 14, 2021 by calling 1-844-512-. 2921 (USA) or 1-412-317-6671 (International) and using the repeat passcode: 13717880.

Via Allied Esports Entertainment

Allied Esports Entertainment, Inc. (NASDAQ: AESE) is a global leader in esports entertainment, bringing innovative infrastructure, transformative live experiences, cross-platform content and interactive content to audiences worldwide through the strategic merger of two strong brands: Allied Esports and World Poker Services Tour (WPT). Please visit AlliedEsportsEnt.com for more information.

Rooster Soup for the Soul Leisure to Host Fourth Quarter and Full 12 months 2020 Convention Name on March 31, 2021 Nasdaq:CSSE

NEW YORK, March 17, 2021 (GLOBE NEWSWIRE) – Chicken Soup for Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of streaming ad-supported video-on-demand (“AVOD”) networks, announced today announced that a conference call and live webcast will be held to discuss fourth quarter and full year results ending December 31, 2020.

Conference call information

To attend this event, dial in approximately 5 to 10 minutes before the call begins.

  • Date, time: Wednesday, March 31, 2021, 4:30 p.m. ET.
  • Toll Free: (833) 832-5128
  • International: (484) 747-6583
  • Conference ID: 2587209
  • A live webcast is available at https://ir.cssentertainment.com/ under the tab “News & Events”

Information on playback of conference calls

  • Toll Free: (855) 859-2056
  • International: (404) 537-3406
  • Reference ID: 2587209

ABOUT CHICKEN SOUP FOR SOUL ENTERTAINMENT

Chicken Soup for Soul Entertainment, Inc. (Nasdaq: CSSE) operates streaming video-on-demand (VOD) networks. The company owns Crackle Plus, which owns and operates a variety of ad-supported and subscription-based VoD networks, including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. The company also purchases and sells video content through its subsidiary Screen Media and produces original long and short form content through Landmark Studio Group, the chicken soup for the Soul Originals division, and APlus.com. Chicken Soup For The Soul Entertainment is a subsidiary of Chicken Soup For The Soul, LLC, which publishes the famous book series and produces super-premium pet foods under the brand name Chicken Soup for the Soul.

FORWARDING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks (including those set out in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Quarterly Report on Form 10-Q for the nine month period ended September 30. 2020) and Uncertainties that could cause actual results to differ from the forward-looking statements. The company expressly disclaims any obligation or obligation to publicly release any updates or revisions to the forward-looking statements contained herein to reflect changes in the company’s expectations regarding them or changes in the events, conditions or circumstances on which any statements are based. Investors should be aware that actual results could differ materially from our expectations and projections if our assumptions underlying the projections contained herein prove inaccurate or if known or unknown risks or uncertainties occur.

INVESTOR RELATIONS
Taylor Krafchik
ellipse
CSSE@ellipsisir.com
646-776-0886

MEDIA CONTACTS
Kate hair clip
RooneyPartners LLC
kbarrette@rooneyco.com
(212) 223-0561

Corus Leisure’s Second Quarter Monetary Outcomes to be Launched April 9, 2021

TipRanks

The bottom is in for these 3 stocks? Analysts say “buy”

Never say that one person makes no difference. Last Thursday, stocks fell, bonds rose, and investors took inflation risks seriously – all because someone said what they thought. Federal Reserve Chairman Jerome Powell held a press conference giving both good and bad. He reiterated his belief that the COVID vaccination program will allow the economy to reopen completely and that the labor market will revive. That’s the good news. The bad news is that consumer prices are likely to rise in the short term too – inflation. And when inflation starts to rise, interest rates rise too – and then stocks usually slide. We’re not there yet, but the ghost last week was enough to put serious pressure on the stock markets. However, as the market decline has driven many stocks to lows, several Wall Street analysts believe now is the time to buy in. These analysts have identified three tickers with current stock prices landing near their 52-week lows. The analysts note that everyone will return on an uptrend and see an attractive entry point. Not to mention that everyone has bought a consensus rating of moderate or strong according to the TipRanks database. Alteryx (AYX) We’re starting Alteryx, a California-based analytics software company that leverages the big changes in the information age. Data has become a commodity and an asset, and businesses now more than ever need the ability to gather, collect, sort, and analyze myriad raw data. Alteryx’s products do just that, and the company has built on that need. In the fourth quarter, the company reported net earnings of 32 cents per share on total revenues of $ 160.5 million, beating consensus estimates. The company also reported good news in terms of liquidity, with $ 1 billion in cash available as of December 31, up 2.5% year over year. In the fourth quarter, operating cash flow was $ 58.5 million, down from $ 20.7 million a year ago. However, investors were concerned about the unexpectedly low outlook. The company forecast sales between $ 104 million and $ 107 million, compared to $ 119 million analysts had expected. The stock fell 16% according to the report. This was compounded by the general market slowdown at the same time. Overall, AYX is down ~ 46% over the past 52 months. However, the recent sell-off could be an opportunity as business remains solid during these challenging times, according to Wedbush’s 5-star analyst Daniel Ives. “We continue to believe that the company is well positioned to drive nearly $ 50 billion worth of market share in the analytics, business intelligence and data preparation market with its end-to-end code-friendly data preparation and analysis platform. Dollars to win as soon as the pandemic pressure subsides. The decline in sales was due to a mix of products tending to recognize upfront revenue, improve churn rates, and improve customer spending trends, “said Ives. Ives’ comments underpinned his outperform rating (i.e. buy) and price target of $ 150, up 89% for the stock for a year. (To see Ives’ track record, click here) In total, the 13 most recent analyst reviews on Alteryx, divided into 10 buys and 3 holds, give the stock one Strong Buying Analysts Consensus Rating. Stocks sell for $ 79.25 with an average price target of $ 150.45. (See AYX stock analysis on TipRanks.) Root, Inc. (ROOT) As we move into the insurance sector, we’ll be looking at Root This insurance company interacts with customers through its app who act more like a tech company than a car insurer th. But it works because the way customers interact with companies is changing. Root also uses data analytics to set tariffs for customers, where fees and premiums are based on measurable and measured metrics about how a customer actually drives. It is a personalized version of auto insurance that is suitable for the digital age. Root has also extended its model to the rental insurance market. Root has been publicly trading for only 4 months; The company went public back in October and is currently down 50% since it hit the market. In its fourth quarter and full year 2020 results, Root posted solid gains in direct premiums, although the company is still posting a net loss. For the quarter, direct earnings awards increased 30% year over year to $ 155 million. For 2020 as a whole, that metric increased 71% to $ 605 million. The net loss for the full year was $ 14.2 million. Truist’s 5-star analyst Youssef Squali reports on Root, and he sees the company maneuvering to get a favorable outlook this year and next. “ROTS Management continues to refine its growth strategy two quarters after the IPO, and the outlook for Q4 20/2021 reflects such a process. They believe that their increased marketing investments during the year will accelerate the growth in the number of policies and should provide a significant tailwind towards 2022. To us, this seems part of a deliberate strategy to balance revenue growth and profitability shifting slightly more in favor of the latter, ”noted Squali. Squali’s valuation of the stock is a buy, and its target price of $ 24 points to a 95% uptrend over the coming months. (To see Squali’s track record, click here.) Root’s shares sell for $ 12.30 each, and the average target of $ 22 indicates a possible uptrend of ~ 79% by year-end. There are 5 ratings registered, including 3 to buy and 2 to hold, making the analyst consensus a moderate buy. (See ROOT stock analysis on TipRanks.) Arco Platform, Ltd. (ARCE) The move to online and remote working has not only affected the workplace. Schools and students around the world have also had to adapt. Arco Platform is a Brazilian education company providing content, technology, add-on programs and specialized services to school customers in Brazil. The company has more than 5,400 schools on its list of customers with programs and products in classrooms from kindergarten to high school – and over 405,000 students using Arco Platform learning tools. Arco will release fourth quarter and full year 2020 results later this month. However, a look at the release of the third quarter in November is instructive. The company called 2020 “proof of the resilience of our business”. In terms of numbers, Arco saw strong sales growth in 2020 – no surprise given the move to distance learning. Quarterly sales of 208.7 million Brazilian reals ($ 36.66 million) increased 196% year over year, while sales for the first nine months of the year were 705.2 million real (123.85 million US dollars) ) increased by 117% compared to the previous year. Income for education companies may vary over the course of the school year depending on the school holiday schedule. The third quarter is typically Arco’s worst of the year with a net loss – and 2020 was no exception. However, the net loss for the third quarter was only 9 cents per share – a huge improvement over the 53 cents loss reported in the third quarter of 19. Mr. Market has cut 38% of the company’s share price over the past 12 months. However, one analyst believes that this lower share price could offer new investors an opportunity to get into ARCE cheaply. Credit Suisse’s Daniel Federle rates ARCE as an outperform (ie buy) along with a price target of USD 55. This number implies a 12 month upside potential of ~ 67%. (To see Federle’s track record, click here.) Confident that the company is positioned for the next phase of growth, Federle notes: “[The] The company is structurally sound and moving in the right direction. … Any weak operational data point is macro-related rather than a business-related problem. We continue to assume that growth will return to normal once the COVID effects go away. Regarding expansion plans, Federle noted, “Arco mentioned that it is within its plans to bring a product to the B2C market, probably as early as 2021. The product will focus on providing courses (e.g. test prep ) directly to students. It is important to note that this product is not a replacement for learning systems, but an addition. The potential success in the B2C market is an upside risk to our estimates. “There are only two reviews for Arco, although both are purchases, making the analyst consensus here a moderate buy. The shares trade for $ 33.73 and have an average price target of $ 51, indicating an upward movement of 51% from that level. (See ARCE stock analysis on TipRanks.) To find great ideas for trading rundown stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, ‘a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.

AMC Leisure Holdings, Inc. to Announce Fourth Quarter and 12 months-Finish 2020 Outcomes and Host Earnings Webcast

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Goldman Sachs predicts these two stocks will rally over 50%

Stocks started this year on strong gains that fell last week and are now rising again. The big tech giants led the moves, with volatility on Apple and Amazon leading the NASDAQ on its spins. The strategy team at investment bank Goldman Sachs has taken note of the market changes and worked out what this means for investors. Macro strategist Gurpreet Gill, who is closely monitoring bond yields and stock values, said, “The rise in global yields reflects the improved growth prospects to be expected given encouraging vaccine progress and significant fiscal stimulus ahead in the US. [It] also signals higher inflation expectations and in turn pulled forward expectations for the timing of monetary policy normalization. “Monetary policy can be the key to allaying investor worries – and in that regard, Federal Reserve Chairman Jerome Powell’s testimony to Congress is valued positively. In his comments to lawmakers, the head of the central bank pointed out that the Fed had no plans to raise interest rates anytime soon. So far, the outlook has been in line with predictions from Goldman economist Jan Hatzius, who earlier this year expressed his belief that the Fed would hold rates and that 2021 will be a good year for long equities. So much for the macro outlook. At the micro level, Goldman analysts have been busy finding the stocks they think will win if current conditions persist in the short to medium term. In particular, they found two stocks that they believed had 50% or more upside potential. Using TipRanks’ database, we found that both tickers also had a consensus rating of “Strong Buy” from the rest of the street. Vinci Partners Investments (VINP) The first Goldman selection we look at is Vinci Partners, an alternative investment and wealth management firm based in Brazil. The company offers a range of services and funds to its clients, including access to hedge funds, real estate and infrastructure investments, private equity and credit investments. Vinci has global reach and a leadership position in the Brazilian wealth management industry. At the beginning of the new year, Vinci went public in the NASDAQ index. VINP shares traded at $ 17.70 on Jan. 28, slightly below the company’s original price of $ 18. On the first day of trading, 13.87 million VINP shares were offered for sale. After about four weeks in the public markets, Vinci has a market cap of $ 910 million. Analyst Tito Labarta covers this stock for Goldman Sachs and describes Vinci as a well diversified wealth platform with strong growth potential. “We believe Vinci is well positioned to gain market share and outperform market growth in the face of strong competitive advantage. With seven different investment strategies and 261 funds, Vinci has one of the most diverse product offerings among its colleagues in the field of alternative asset management. In addition, Vinci has outperformed its benchmarks across all strategies, has a strong track record, and has received awards from relevant institutions such as Institutional Investor, Morningstar, Exame and InfoMoney. The company has developed strong communication tools to strengthen its brand and institutional presence in the Brazilian market, such as podcasts, seminars, investor days with IFAs and other participation in events and webinars, “said Labarta, assessing VINP with a purchase and its target price of $ 39 implies an impressive upside of 141% for the coming year. (To see Labarta’s track record, click here) A month on NASDAQ has brought Vinci with a 3 positive attention from Wall Street analysts The stock is currently trading for 16 , Sold $ 15, and its average price target of $ 26.75 suggests it has room for ~ 66% growth over the next 12 months. See VINP stock analysis at TipRanks. Ortho Clinical Diagnostics Holdings (OCDX) Die Goldman Sachs analysts have also identified Ortho Clinical Diagnostics as a potential winner for investors, The Un The company is a leader in in vitro diagnostics and works with hospitals, clinics, laboratories and blood banks around the world to deliver fast, safe and accurate test results. Ortho Clinical Diagnostics has several major novelties in its industry: It was the first company to provide a diagnostic test for the Rh +/- blood group for the detection of HIV and HEP-C antibodies, and more recently it has been involved in COVID- worked. 19 tests. Ortho is the world’s largest all-in-vitro diagnostic company, performing over 1 million tests on more than 800,000 patients around the world every day. Like Vinci Partners above, this company went public on January 28th. When Ortho went public, it launched 76 million shares. Trading on the first day was $ 15.50, down from the original price of $ 17. Even so, the IPO raised gross funds of $ 1.22 billion and the subscribers’ over-allotment option raised an additional $ 193 million. Goldman Sachs analyst Matthew Sykes believes the company’s past growth performance warrants positive sentiment and that Ortho is poised to cut its balance sheet. “The key to OCDX’s stock history is to roll back the organic growth rate from a historical pace of roughly unchanged to 5-7% consistently. Given the profitability and potential FCF generation, OCDX could roll back growth to ease the burden on the balance sheet and increase the growth inorganic and organic investments to create a sustainable growth algorithm, “wrote Sykes. The analyst added: “From our point of view the most important growth driver is the increase in the customer value of OCDX for life, which is achieved by the transition of the product range of the Clinical Lab business from a stand-alone instrument for clinical chemistry to an integrated platform and ultimately to an automated platform This transition takes place largely within its own customer base and is therefore not dependent on the shift, but rather serves the need to increase the throughput of a customer’s diagnostic functions. To this end, Sykes values ​​OCDX with a purchase price and sets a price Target of $ 27 fixed target. At current levels, that’s a year-long upward movement of 51%. (To see Sykes’ track record, click here.) Ortho has a long history of delivering results for its clients and the Wall Street is in the mood to rate these OCDX stocks old a strong buy from analyst consensus based on 9 buy ratings set since going public – versus just a single hold. The average price target is $ 23.80, which indicates an upside potential of ~ 33% from the current trading price of $ 17.83. (See OCDX stock analysis on TipRanks.) To find good ideas for trading stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, ‘a newly launched tool that brings together all of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.