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New crisis for Boeing as aircraft grounded in US and Japan – live updates

Louis Ashworth
·5 min read
777 - Michael Ciaglo/Getty Images
777 - Michael Ciaglo/Getty Images

08:46 AM

FTSE extends losses

After less than an hour of trading, the FTSE 100 has extended its losses and is now now more than a percentage point.

Bloomberg TV - Bloomberg TV
Bloomberg TV - Bloomberg TV

08:41 AM

M&B launches £351m amid heavy cash burn

Mitchells and Butlers - Yui Mok/PA Wire
Mitchells and Butlers - Yui Mok/PA Wire

Mitchells & Butlers said it is burning through as much as £35m per month during lockdown as the pub chain formally launched a £350m fundraising effort.

My colleague Simon Foy reports:

The company said it had a cash balance of just £113m as of January 16, with all facilities drawn, and needs to make a £51m interest payment on its debts by March 15.

It came as the All Bar One owner officially launched a £351m open offer, calling it “critical for the continued operation of the group and its immediate financial stability”.

It has also agreed with pension trustees to delay monthly contributions from January to March.

Between the end of September and mid-January, sales were down 70pc on the same period in the previous year.

08:24 AM

Sunak softens on reopening

My colleague Ben Riley-Smith says that the Chancellor – who has been seen as one of the more prominent voices calling for restrictions to be eased – has softened his stance recently:

08:13 AM

FTSE opens in the red

The FTSE 100 has opened slightly in the red, in a broad downwards move for European equities following Friday’s moderate gains.

Bloomberg TV - Bloomberg TV
Bloomberg TV - Bloomberg TV

08:08 AM

Garda says 235p G4S offer is final

G4S - REUTERS/Darren Staples
G4S - REUTERS/Darren Staples

Canadian suitor GardaWorld has ruled out sweetening its offer for UK-based security outsourcer G4S, meaning rival bidder Allied Universal is in pole position to take over the FTSE 250 group.

Garda stuck by a 3250-per-share offering, despite G4S having already accepted Allied’s 245p bid, which values the company’s share capital at about £3.8bn.

Stephan Crétier, boss of GardaWorld, said:

There can be no better owner for G4S than GardaWorld, but we are disciplined buyers and we will not overpay for a company with systemic ESG issues that continue to come to light…

In light of the above, we have concluded that priced above 235 pence per share, there are better and less risky opportunities available to GardaWorld.

07:56 AM

Fresh crisis for Boeing as 777s are grounded following debris incidents

Plane-maker Boeing has been plunged into a fresh crisis after multiple incidents involving its aircraft showering debris due to apparent engine issues.

My colleague David Millward reports:

United Airlines grounded 24 of its Boeing 777s on Sunday while Japan also suspended some of its fleet, after two jets using the same family of engines showered debris on the ground shortly after take-off.

The US Federal Aviation Administration issued an emergency airworthiness directive calling for the inspection of Boeing 777s, following two separate incidents involving Pratt & Whitney 4000 engines on Saturday.

In the US, one of the engines on a United Airlines Boeing 777 exploded shortly after it took off from Denver en route to Honolulu…

In a separate move, Japanese authorities grounded its Boeing 777s also using Pratt & Whitney engines. Japan said ANA operated 19 of the type and JAL operated 13 of them, though the airlines said their use had been reduced during the pandemic. JAL said its fleet was due for retirement by March 2022.

Boeing has said it recommends airlines suspend usage of the planes, with the decision creating fresh headaches for the company shortly after its 737 Max aircraft was once again cleared to fly following two fatal crashes.

07:08 AM

Agenda: Lockdown exit plan

Good morning. The FTSE 100 is set to open in the red as Boris Johnson prepares to announce his roadmap for lifting the coronavirus lockdown.

The plan is expected to involve four steps which will see a gradual reopening of society and the economy from next Monday.

5 things to start your day

1) Alistair Darling warns Sunak off tax raid: the former Chancellor who oversaw Britain's initial response to the financial crisis explains why it is too early to attempt to rebalance the books.

2) UK plc dividends suffer 41pc pandemic plunge: Payouts from banks and oil giants suffered the most, according to data that tells investors to brace for a slow return to pre-Covid levels.

3) Mark Carney joins board of US payments start-up: Stripe welcomes former Bank of England governor as it negotiates a new funding round that could leave it with a $100bn valuation.

4) More John Lewis stores at risk of closure: the employee-owned retailer is under pressure to slash costs after huge losses.

5) Electric car rush drives rare earths arms race: shortage of key materials and rising demand prompt urgent calls for action to avoid supply issues as prices threaten to rocket.

What happened overnight

The bond selloff continued Monday as Treasury yields climbed and sovereign debt in Australia and New Zealand slid on concerns about faster inflation, tempering stock market optimism from positive vaccine news.

Benchmark 10-year Treasury yields climbed to the highest in about a year. A gauge of Asian stocks edged lower, erasing earlier gains amid a surge in metals that could fan price pressures. Japanese shares outperformed while other key markets lagged. S&P 500 and European futures dipped after the U.S. index slipped Friday.

Copper hit the highest in more than nine years in a sign of optimism about the global recovery. Crude oil climbed to $60 a barrel as the market assessed the fallout from the big freeze across Texas. Bitcoin notched another record over the weekend, spurring a rally in the shares of Asian cryptocurrency stocks.

Coming up today

Interim results:

Dechra Pharmaceuticals

Economics:

Ifo survey (Germany)

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  • Billionaire Ray Dalio Places Bet on 3 “Strong Buy” Stocks

    When billionaire financier Ray Dalio makes a move, Wall Street pays attention. Dalio, who got his start working on the floor of the New York Stock Exchange trading commodity futures, founded the world’s largest hedge fund, Bridgewater Associates, in 1975. With the firm managing about $140 billion in global investments and Dalio’s own net worth coming at $17 billion, he has earned legendary status on Wall Street. Summing up his success, Dalio has three pieces of advice for investors. First, diversify. Keeping a wide range of stocks in the portfolio, from multiple sectors, is the surest way to invest well. Second, don’t think that rising markets will rise forever. This is Dalio’s variation on an old saw that past performance does not guarantee future returns. Dalio will tell you that all strong past returns really guarantee are current high prices. And finally, Dalio tells investors, “Do the opposite of what your instincts are.” Or put another way, don’t follow the herd, as such thinking frequently leads to suboptimal results. Looking to Dalio for investing inspiration, we used TipRanks’ database to find out if three stocks the billionaire recently added to the fund represent compelling plays. According to the platform, the analyst community believes they do, with all of the picks earning “Strong Buy” consensus ratings. Linde PLC (LIN) The first new position is in Linde, the world’s largest industrial gas production company, whether counting by revenues or market share. Linde produces a range of gasses for industrial use, and is the dominant supplier of argon, nitrogen, oxygen, and hydrogen, along with niche gasses like carbon dioxide for the soft drink industry. The company also produces gas storage and transfer equipment, welding equipment, and refrigerants. In short, Linde embodies Dalio’s ‘diversify’ dictum. Linde’s industry leadership and essential products helped the company bounce back from the corona crisis. The company’s revenues slipped in 1H20, but grew in the second half, reaching pre-corona levels in Q3 and exceeding those levels in Q4. In a sign of confidence, the company held its dividend steady through the ‘corona year,’ at 96 cents per common share – and in its recent Q1 declaration, Linde raised the payment to $1.06 per share. This annualizes to $4.24 and gives a yield of 1.7%. The key point here is not the modest yield, but the company’s confidence in the security of its positions, allowing it to keep a steady dividend at a time when many peers are cutting profit sharing. It’s no wonder, then, that an investor like Dalio would take an interest in a company like Linde. The billionaire’s fund snapped up 20,149 shares during the fourth quarter, worth $5.05 million at current prices. Assessing Linde for BMO, analyst John McNulty expresses his confidence in Linde’s current performance. "LIN continues to execute on its growth strategy to drive solid double-digit earnings growth, notably without requiring a further macro improvement. In our view, management's 11-13% guide for 2021 remains conservative driven by its on coming projects, continued pricing, efficiency gains, and solid buybacks with its strong balance sheet and cash flows. Further, the solid FCF position provides them plenty of dry powder for M&A, de-caps, etc. We believe LIN is poised to continue to surprise investors and outperform the broader group even in a cyclical market. the largest global industrial gas company," McNulty opined. In line with his bullish comments, McNulty rates LIN as a Buy, and his $320 price target implies an upside of ~28% for the coming year. (To watch McNulty's track record, click here) Wall Street’s analysts are in broad agreement on the quality of Linde’s stock, as shown by the 15 Buy reviews overbalancing the 3 Holds. This gives the stock its Strong Buy analyst consensus rating. Shares are priced at $250.88, and their $295.73 average price target suggests they have ~18% growth ahead. (See LIN stock analysis on TipRanks) BlackRock (BLK) Next up is the world’s largest asset manager. BlackRock has over $8.67 trillion in assets under management. The company is one of the dominant index funds in the US financial scene, and saw $16.2 billion revenue last year, with a net income of $4.9 billion. BlackRock’s recent Q4 report shows its strength, as far as numbers can. EPS came in at $10.02 per share, a 12% sequential gain and a 20% year-over-year gain. Quarterly revenues of $4.8 billion were up 17% yoy. The full-year top line was up 11% from 2019. BlackRock achieved all of this even as the corona crisis flattened the economy in 1H20. In the first quarter of this year, BlackRock declared its regular quarterly dividend, and raised the payment by 13% to $4.13 per common share. At an annualized payment of $16.52, this gives a yield of 2.3%. The company has kept the dividend reliable for the past 12 years. Not wanting to miss out on a compelling opportunity, Dalio's fund pulled the trigger on 19,917 shares, giving it a new position in BLK. The value of this new addition? More than $14 million. Covering BLK for Deutsche Bank, analyst Brian Bedell writes, “We view 4Q results as very good with strong long-term net inflows across its products which we expect to continue despite a one-time, $55bn pension fund outflow of low-fee equity index assets expected in 1H21 which mgmt. said would have a minimal impact on base fee revenue. Additionally, total net inflows drove annualized organic base management fee growth of 13%, a quarterly record, on annualized long-term organic AuM growth of 7%. We expect organic base fee growth to exceed organic AuM growth coming into 2021 driven by a flow mix skewed toward higher fee-rate products for now.” To this end, Bedell rates BLK a Buy and his $837 price target suggests the stock has ~18% upside ahead of it. (To watch Bedell’s track record, click here) The analyst consensus tells a very similar story. BLK has received 6 Buy ratings in the last three months, against a single Hold – a clear sign that analysts are impressed with the company’s potential. Shares sell for $710.11, and the average price target of $832.17 gives the stock a 17% upside potential. (See BLK stock analysis on TipRanks) AbbVie, Inc. (ABBV) AbbVie is a major name in the pharma industry. The company is the maker of Humira, an anti-inflammatory used in the treatment of a wide range of chronic illnesses including rheumatoid arthritis, Crohn’s disease, and psoriasis. The company’s other immunology drugs, Skyrizi and Rinvoq, were approved by the FDA in 2019 as treatments for psoriasis and rheumatoid arthritis, respectively, and saw combined sales of $2.3 billion last year. AbbVie expects that these drugs will ‘fill the gap’ in profits when the Humira patents expire in 2023, with up to $15 billion in sales by 2025. Humira is currently the main driver of AbbVie’s immunology portfolio, and provides $19.8 billion of the portfolio’s $22.2 billion in annual revenues, and a significant part of the company’s total sales. For the full year 2020, across all divisions, AbbVie saw $45.8 billion in revenues, with an adjusted diluted EPS of $10.56. In addition to its high-profile anti-inflammatory line, AbbVie also has a ‘stable’ of long-established drugs on the market. As an example, the company owns Depakote, a common anti-seizure medication. AbbVie also maintains an active research pipeline, with scores of drug candidates undergoing studies in the disciplines of immunology, neuroscience, oncology, and virology. For investors, AbbVie has a long-standing commitment to returning profits to shareholders. The company has an 8-year history of keeping a reliable – and growing – dividend. In the most recent declaration, made this month for a payment to go out in May, AbbVie raised the dividend 10% to $1.30 per common share. At $5.20 annualized, this gives a yield of 4.9%. Once again, we are looking at stock that embodies some of Dalio’s advice. Pulling the trigger on ABBV in the fourth quarter, Dalio’s firm purchased 25,294 shares. At current valuation, this is worth $2.66 million. Leerink analyst Geoffrey Porges covers ABBV, and is impressed with the way that the company is preparing in advance for the loss of US exclusivity on its best-selling product. “Between ABBV’s ex-Humira portfolio’s growth trajectory and a broad portfolio of catalysts across early-, mid-, and late-stage assets, it is hard to find a biopharma company that is better positioned, even with their looming LOE. ABBV is prepared for 2023, and has growth drivers to drive better than industry average top- and bottom-line growth in the period before (2021-2022) and after (2024-2028) 2023,” Porges opined. Porges gives ABBV an Outperform (i.e. Buy) rating, and sets a $140 price target that indicates room for a 33% one-year upside. (To watch Porges’ track record, click here) Overall, there are 10 reviews on ABBV shares, and 9 of those are to Buy – a margin that makes the analyst consensus rating a Strong Buy. The stock is trading for $105.01 and has an average price target of $122.60. This suggests an upside of ~17% over the next 12 months. (See ABBV stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Bill Gates’ Trust Sold Alibaba, Uber, and Apple Stock. Here’s What It Bought.

    The Bill & Melinda Gates Foundation Trust closed its Alibaba position as Jack Ma retreated from public view. Instead, Gates boosted holdings in a provider of drug-discovery software.

  • Bad money moves: Warren Buffett, Jim Cramer and Suze Orman on their biggest investing regrets

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  • Lithium And Hydrogen Trades: 5 Battery-Related Stocks To Watch

    Stocks in electric battery technology have been heating up as automakers, airlines and equipment manufacturers continue to form partnerships with tech companies. Batteries are essential to many of the technologies that innovators hope will replace fossil fuel-burning machines. This bodes well for makers of lithium-ion batteries and hydrogen fuel cells. Five Battery Technology Companies To Watch: Australian mining company Piedmont Lithium ADR (NASDAQ: PLL) has been on a tear since it announced a deal with Tesla Inc (NASDAQ: TSLA) last September. Piedmont signed a five-year agreement to supply Tesla with one-third of its planned 160,000-tonnes-per-year spodumene concentrate, a type of lithium ore, from its deposits in North Carolina. Since the announcement, shares of Piedmont have soared more than 430%. This past November, Piedmont announced an expansion of its drilling operations, adding three new drill rigs in North Carolina. CEO Keith Phillips said in a press release that the North Carolina investment positions the company to be a part of "North America's clean energy storage and EV revolution." North Carolina-based Albemarle Corp (NYSE: ALB) is another one to watch. In January, Albemarle announced an expansion of its operations in Silver Peak, Nevada, where it hopes to accelerate lithium production from clay resources in the area. Albemarle also announced it was experimenting with a process to streamline lithium production from brine resources, a project sponsored by the U.S. Department of Energy. Shares rose to an all-time high on Jan. 20, but have since have since come down by 17%. Livent Corp (NYSE: LTHM) share prices surged last November after the company reported it had extended its lithium supply agreement with Tesla. Besides suppling chemicals for electric vehicle batteries, Livent also produces butyllithium and lithium metal for the pharmaceutical, aerospace and agrochemical industries. Although Livent shares have rocketed over 300% from March 2020 lows, shares dropped Friday after Livent reported less than stellar earnings. Hydrogen fuel cell company Plug Power Inc (NASDAQ: PLUG), based in Latham, New York, sells alternatives to traditional batteries. The company announced on Tuesday that it had entered into an agreement with Acciona S.A., a sustainable infrastructure company in Spain. The companies hope to grab 20% of the market share in Spain and Portugal through the establishment of a green hydrogen platform. Shares in Plug Power hit a high of $75.49 in January, a 134% increase since the start of the year but have recently retraced by almost 30%. FuelCell Energy Inc (NASDAQ: FCEL) has longtime partner Exxon Mobil Corporation (NYSE: XOM) behind it and in 2019 the collaboration expanded in a deal worth more than $60 million for large-scale carbon capture. Danbury, Connecticut-based FuelCell makes fuel cell power plants that generate clean energy for government, utility and municipality customers. Its products use hydrogen-rich fuels to generate power and also try to improve on the functions of traditional batteries. Shares in FuelCell soared over 175% in January, but have recently dropped over 30% as investors wait for consolidation. (Photo by Riccardo Annandale on Unsplash) See more from BenzingaClick here for options trades from BenzingaAfter Q4 Miss From Planet Fitness, 4 Analysts On What's Ahead For Gym ChainVisa, ADP Partner To Unveil New Direct Deposit Option Via Debit Card© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • US Stocks: Are We Seeing a Rotation or Early Signs of Sizable Pullback?

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  • Bitcoin Rally Faces Potential Test From Falling Market Liquidity

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  • WallStreetBets Trader Keith Gill Appears To Have Bought 50,000 More Shares Of GameStop

    Keith Gill, the now-famous Reddit WallStreetBets trader, appears to have bought more shares of GameStop Corp. (NYSE: GME) after the price fell by 23%. What Happened: Judging by a screenshot Gill shared on Friday afternoon, he bought 50,000 more shares of the stock. Gill previously showed he owned 50,000 shares, the Wall Street Journal reported, suggesting he has doubled down on his bet. That would put the value of his apparent GameStop holdings at more than $4 million. Gill declined to comment to the Journal about the postings. Why It Matters: Keith Gill gained popularity in the midst of Reddit’s WallStreetBets craze. He has been posting about GameStop for a year and also making videos on YouTube where he appears under the name "Roaring Kitty." He appeared at a Congressional hearing regarding Reddit's influence on the market on Thursday, along with the CEOs of Robinhood, Citadel and Melvin Capital. He said he still sees potential in the future of the stock. “I do find that it’s an attractive investment at this price point,” he said when asked about it. Price Action: GameStop stock was trading at $42.88 in the post-market trading on Friday, having lost 22.54% in a week, while Palantir Technologies (PLTR:NYSE) seems to be getting attention from the WallStreetBets traders right now. Image: Screenshot of Keith Gill's video See more from BenzingaClick here for options trades from BenzingaRobinhood CEO Goes To Confessional: Vlad Tenev Admits Mistakes On Chamath Palihapitiya's Podcast© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Dow Jones Futures: Watch This Market Rally Warning; Bitcoin Soars, Tesla Model Y SR+ Pulled

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  • 2 Electric Vehicle Stocks Endorsed by Wall Street’s ‘Mad Scientist’

    There’s this guy on Wall Street… Source: Shutterstock His name is Adam Jonas. He’s the head of global auto and shared mobility research over at Morgan Stanley. He’s a wickedly smart dude, who is very forward-thinking and has such a great track-record of prescient calls that they call him Wall Street’s “Mad Scientist.”InvestorPlace - Stock Market News, Stock Advice & Trading Tips One example: Back in 2011, he told everyone that EVs were going to take over the world and hyped Tesla stock as a strong buy. Tesla’s stock price at the time? $5 – It’s up about 170,000% since then. Another example: In late 2019, Jonas said that the Space Economy was on the verge of hypergrowth and Virgin Galactic was a strong buy. The Virgin Galactic stock price at the time? About $7 – It’s up more than 750% since then. You get the point. When Jonas speaks, you should listen, especially if he’s saying something about a stock to buy in the transportation markets. Last Friday, Jonas did just that. He came out and said that there are two screaming buys right now in the EV market. Their names? Fisker (FSR) and QuantumScape (QS). Specifically, Jonas called EV maker Fisker his “sleeper pick” in the EV category, believing that the company “stands out [with] one of the more de-risked and strategically underpinned business models” in the EV space. Jonas thinks that stock is going to $27. At the same time, he said solid-state battery maker QuantumScape’s game-changing technology positions it well for blockbuster partnerships with U.S.-based EV players — like Ford and Apple — as they look to secure a domestic supply of battery technology. He thinks this stock is going to $70. For the record, I couldn’t agree more. Fisker was founded by Henrik Fisker, a legend of unparalleled reputation in the luxury auto market who was the design brain behind the Aston Martin DB9, the Aston Martin Vantage, the BMW Z8, and the BMW X5. It should be no surprise, then, that Fisker has attracted a top-tier design team that has created one of the most sleek-looking EVs yet – the Ocean SUV. Further – thanks to the company’s asset-light, direct-to-consumer business model that Jonas refences above – Fisker will be selling this Ocean SUV for just $37,500… which is an absolute steal of a price for a luxury e-SUV. The Model X – its closest rival today – goes for over $80,000. When this car launches, I expect it to be a huge hit among consumers. The enormous success of the Ocean SUV will be the launching pad for Fisker to thrust itself into EV spotlight, and eventually, turn into one of the most prominent brands in this space. And at this very moment, Fisker stock has huge upside potential. Meanwhile, QuantumScape is breaking ground on a new generation of potentially game-changing solid-state batteries for electric vehicles. The long story short here is that today’s batteries are built on liquid battery chemistry, and as such, can only be made to be so dense. We are hitting that peak energy density today. To unlock a new generation of batteries that last longer and recharge faster, we need to fundamentally change the chemistry behind these batteries and turn the liquid electrolyte solution into a solid. QuantumScape is doing that. But more importantly, QuantumScape is lightyears ahead of everyone else when it comes to making solid-state batteries. The company has attracted a top-tier engineering team that is full of Stanford and UC Berkeley talent. That talented team has created a cost-effective way to manufacture high-performance solid batteries. And those solid batteries are already proving themselves as significantly superior solutions to liquid batteries. That’s why Dr. Stan Whittingham, co-inventor of the lithium-ion battery and winner of the 2019 Nobel prize in chemistry, said: “If QuantumScape can get this technology into mass production, it holds the potential to transform the industry.” Thus, QuantumScape stock has huge long-term upside potential. Big picture: Jonas is a smart guy. He’s one of the analysts I respect most on Wall Street. He said buy Fisker stock and QuantumScape stock. I agree. And more than that, I think these are investments worth holding onto for potentially multi-bagger gains over the next few years… P.S. Speaking of multi-bagger gains, I like to say that where there’s disruption, there’s opportunity. And there’s a massive opportunity happening right before our eyes. Remember how Jeff Bezos looked at the state of the retail market, and he created Amazon.com in response? Yes, this opportunity is that huge. As you know, I don’t make stock picks on a whim. I spend countless hours analyzing them, creating models, and measuring their long-term potential. It’s how I got to be America’s No. 1 stock picker, according to TipRanks. So believe me when I tell you that there’s a stock out there that could very well become “the next Amazon.” And this Tuesday I will reveal its industry, name, and ticker symbol… for free. Watch the video below to learn more about this hypergrowth opportunity and reserve your seat here! On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article. By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s how his Daily 10X Report has averaged up to a ridiculous 100% return across all recommendations since launching last May. Click here to see how he does it. More From Hypergrowth Investing FuboTV Stock Is Heading to $200. Buy It Before It Goes Parabolic The Best Stocks to Buy in the Market Today, According to Jeff Bezos 7 Explosive Cryptocurrencies to Buy After the Bitcoin Halvening 15 EV Stocks to Buy as GM Goes All-Electric The post 2 Electric Vehicle Stocks Endorsed by Wall Street’s ‘Mad Scientist’ appeared first on InvestorPlace.

  • He began buying Tesla at just $7.50, and now he’s retiring at 39 years old with $12 million worth — he still refuses to sell a single share

    While just about every financial planner out there continues to espouse the "diversify" mantra, Jason DeBolt, a former Google and current Amazon employee, has taken a decidedly different approach.

  • 'SPACS Attack' Weekly Recap: 8 Deals, New SPACs To Watch And Headline News

    The four-day trading week saw no weakness in SPAC deal announcements or headlines, all of which we followed on Benzinga's SPACS Attack show. Here is a look back at the deals announced, some new SPACs to watch and top headlines. SPAC Deals: There were eight announced SPAC deals during the week. The results were mixed as we saw some strong pops on deals and several of the names end their announcement day trading down. Satellite company BlackSky announced a merger with Osprey Technology Acquisition Corp (NYSE: SFTW). The deal included financial backing from Peter Thiel. BlackSky uses artificial intelligence and machine learning with its observation satellites. The company has five satellites in commercial operation, with plans to add nine more in 2021. Cathie Wood’s Ark Invest was part of the financial backing on a merger of Quantum-Si with SPAC HighCape Capital Acquisition Corp (NASDAQ: CAPA). Quantum-Si was founded by Jonathan Rothberg, the same founder of Butterfly Network Inc (NYSE: BFLY), which just recently went public. Planning to launch a chip-based proteomics solution, Qunatum-Si believes it can change the protein and genomics market. Origin Materials, which uses wood residue and non-food sources to create useful materials, is merging with Artius Acquisition (NASDAQ: AACQ). The company bills itself as a "carbon negative" materials play and is backed by PepsiCo (NASDAQ: PEP), Danone and Nestle SA (OTC: NSRGY). Battery Recycler Li-Cycle is merging with Peridot Acquisition Corp (NYSE: PDAC). The company uses a proprietary method to recover high-grade materials from end-of-life batteries. Intel-backed Aeye announced a merger with CF Finance Acquisition III (NASDAQ: CFAC). The deal, which had been rumored since mid-January, will bring another lidar company to the public markets. Humacyte announced a merger with Alpha Healthcare Acquisition Corp (NASDAQ: AHAC). The company is pre-revenue and working on developing implantable bio-engineered human tissue. Sandbridge Acquisition Corp (NYSE: SBG) is taking Owlet public. Owlet owns a slate of baby products that seek to make parenting easier through technology. The Owlet Smart Sock baby monitor tracks a baby’s heart rate and sleep patterns. East Stone Acquisition Corp (NASDAQ: ESSC) announced a SPAC merger with JHD Holdings on Thursday. JHD Holdings is an online and offline merchant platform that works with over 90,000 independent retailers in China. Related Link: 10 SPAC Accounts To Follow On Twitter SPAC Rumors: Supersonic jet company Aerion is in talks to go public with Altitude Acquisition Corp (NASDAQ: ALTU), according to Bloomberg. New SPACs: Forest Road Acquisition Corp II is seeking to raise $300 million with a second SPAC from its Forest Road Acquisition (NYSE: FRX) team. The SPAC group, which includes three former Walt Disney Company (NYSE: DIS) executives and Shaquille O’Neal, just announced a merger for Beachbody and Myx Fitness with their first SPAC. The second SPAC will trade as FRXB on the NYSE. New Vista Acquisition (NASDAQ: NVSAU) is targeting aviation, aerospace and defense, and is led by Dennis Muilenburg, former CEO of Boeing Co (NYSE: BA). The team of Reid Hoffman and Mark Pincus filed to launch their third SPAC, called Reinvent Technology Partners Y, which will trade as RTPY on the NASDAQ. The duo have two other SPACs that are trading and still searching for targets with Reinvent Technology Partners (NYSE: RTP) and Reinvent Technology Partners Z (NYSE: RTPZ). Chamath Palihapitiya has filed the names of his next seven SPACs with the SEC, which means we could be closer to seeing the next SPACs in his "IPOA to IPOZ" line soon. Headlines: The biggest story outside of the new deals in the SPAC industry was the continued rise of Churchill Capital Corp IV (NYSE: CCIV). The company is reported to be close to a deal with Lucid Motors. Shares ended the week trading at $54.60. Romeo Power (NYSE: RMO) and QuantumScape Corp (NYSE: QS) both saw shares trade higher on news of their respective battery technologies. Ark Funds added a position in Atlas Crest Investment Corp (NYSE: ACIC), which is taking urban air mobility company Archer public. Velodyne Lidar (NASDAQ: VLDR) shares fell on news that Ford Motor Company (NYSE: F) sold its 7.6% stake in the lidar company. Disclosure: Author is long shares CCIV, FRXU and RMO. Be sure to tune into SPACs Attack, Monday through Friday, 11 a.m. EST. Below are links to the past week’s shows: Tuesday: Best SPAC Stocks Rumors Wednesday: Achronix Interview Thursday: New Top SPACs Friday: Top Management SPAC Teams For more SPAC news and headlines, sign up for the daily SPAC newsletter here. Photo courtesy of Lucid Motors. See more from BenzingaClick here for options trades from BenzingaSatellite Company BlackSky Gets Backing From Peter Thiel, SPAC Merger Deal: What Investors Should Know© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Bond Yields Rise, Stocks Dip as Metals Push Higher: Markets Wrap

    (Bloomberg) -- The bond selloff continued Monday as Treasury yields climbed and sovereign debt in Australia and New Zealand slid on concerns about faster inflation, tempering stock market optimism from positive vaccine news.Ten-year Treasury yields climbed to the highest in about a year and an Asian stock gauge turned lower amid a surge in metals that put the focus on risks to the economic recovery if price pressures mushroom. S&P 500 and European equity futures fell after the U.S. index slipped Friday. The dollar edged up.Among commodities, copper hit the highest in over nine years and crude oil advanced, hovering around $60 a barrel. Bitcoin notched another record over the weekend, spurring a rally in the shares of Asian cryptocurrency stocks.Sovereign bonds have slid on expectations that vaccines and more fiscal stimulus will spur a global rebound and fan inflation. In Israel, the Pfizer Inc. and BioNTech SE Covid-19 shot appeared to protect the vast majority of recipients from infection. Progress against the disease has aided stock and commodity markets this year, but investors are also asking whether the reflation trade will drive up yields to a point that could hurt risk appetite.“We are still in a risk-on environment,” Adrian Zuercher, head of global asset allocation at UBS Wealth Management, said on Bloomberg TV. “Everybody is playing out the outlook for better economic growth, the outlook for more fiscal stimulus. It’s normal that nominal yields are trending higher, equities are also trading high, and also commodities based on a better economic outlook.”Read: Inflation Angst Is About to Rewrite the Stock Market PlaybookU.S. lawmakers are expected to make progress on a $1.9 trillion stimulus bill this week, and President Joe Biden’s administration may unveil a multitrillion-dollar recovery package in March centered on infrastructure.In Australia, the central bank resumed purchases of three-year securities to defend its yield target, underlining the challenge for central banks as they strive to keep borrowing costs low for years to come just as investors position for a more immediate return of inflation. Ten-year yields in both Australia and New Zealand surged more than 10 basis points on Monday.Some key events to watch this week:Fed Chair Jerome Powell delivers the central bank’s semi-annual monetary policy report to the Senate Banking Committee on Tuesday.EIA crude oil inventory report is out Wednesday.Finance ministers and central bankers from the Group of 20 will meet virtually Friday. U.S. Treasury Secretary Janet Yellen will be among the attendees.These are some of the main moves in markets:StocksS&P 500 futures fell 0.5% as of 7:09 a.m. in London. The S&P 500 index fell 0.2% Friday.Japan’s Topix index rose 0.5%.Australia’s S&P/ASX 200 index fell 0.2%.Hong Kong’s Hang Seng index lost 0.5%.Shanghai Composite index shed 1.5%.Euro Stoxx 50 futures fell 0.7%.CurrenciesThe yen was at 105.69 per dollar, down 0.2%.The offshore yuan was at 6.4641 per dollar, down 0.2%.The euro was at $1.2114.The Bloomberg Dollar Spot Index added 0.1%.BondsThe yield on 10-year Treasuries rose about four basis points to 1.38%.Australia’s 10-year bond yield rose 17 basis points to 1.60%.CommoditiesWest Texas Intermediate crude increased 1.2% to $59.96 a barrel.Gold rose 0.3% $1,790.36 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Bitcoin and ethereum prices 'seem high,' says Musk

    The chief executive of Tesla Inc, whose recent tweets have fueled the digital-currency rally, made the remark on Twitter while replying to a user who said that gold was better than both bitcoin and conventional cash. Musk, who earlier in the week remarked that he found the prospect of holding bitcoin adventurous for an S&P 500 company, said in a tweet: "Money is just data that allows us to avoid the inconvenience of barter ..." Bitcoin, the world's most popular cryptocurrency, hit a fresh high in Asian trading on Saturday, extending a two-month rally a day after the digital currency's market capitalization exceeded $1 trillion.

  • Bubble Warnings Go Unheeded as Everyone Is a Buyer in Stocks

    (Bloomberg) -- The American love affair with stocks is deepening as everyone from frenetic day-traders to staid institutions dive further into the market.Equity funds are drawing fresh money at an unprecedented pace and hedge funds are boosting their stock exposure to a record. Companies themselves are re-emerging as big buyers, with share repurchases doubling from a year ago.The affection underscores growing confidence in an economic recovery, buttressed by government support and vaccines. While aspects of the craze -- the growing obsession with penny stocks and options, primarily -- are the basis for daily warnings about a bubble, bulled-up positioning is proving a sturdy backbone for the rally.Up 75% from March, the S&P 500’s gain dwarfs all previous bull markets at this stage of the cycle since the 1930s.“It’s been truly amazing,” said Brian Culpepper, a money manager at James Investment Research. “Everyone just thinks the stock market is going to go, go, go,” he added. “Whether it’s herd mentality, or fear of being left behind, that’s what you’re seeing.”Dated from the last bear-market bottom, the boom cycle is young -- 11 months, versus five years for the median bull market. But its velocity makes up for the age. The S&P 500’s current peak-to-trough gain already eclipses three other full bull markets. If history is any guide, this one is likely more than half done as the median return of the 13 previous bull cycles was 126%.Indeed, a majority of money managers in a Bank of America poll this month viewed the current bull market as being in a late stage.“I don’t think we’re at bubble levels yet, but there are certainly some red flags that would indicate folks are all-in on stocks and risk,” said Michael Arone, chief investment strategist for the U.S. SPDR exchange-traded fund business at State Street Global Advisors. “You need that euphoric moment for the bull market to top.”That danger has yet to register with investors. Last week, they poured $36 billion into funds focused on U.S. equities, the biggest inflow in more than two decades, according to data compiled by EPFR, a unit of Informa Financial Intelligence.Hedge funds are trimming bearish bets while raising their bullish wagers. Their net leverage, a measure of industry risk appetite that takes into account long versus short positions, climbed to a record this month, according to data compiled by Goldman Sachs Group Inc.’s prime brokerage unit.The cost of missing out is looming large on investors’ minds with equities having added a stunning $12 trillion to values since March. Valuations rivaling the dot-com era proved no hurdle to risk appetite. Buy-the-dip is the name of the game. As a result, market pullbacks have been shallow. The S&P 500 has staged seven discernible retreats since October, including one in late January, none going further than 4% before a rally took hold.“There have been several times over the past month when it looked as if the rug had been pulled out from the market and the ‘drop’ had begun, but each time buyers have stepped in,” Saut Strategy’s Andrew Adams wrote in a note. “This isn’t a ‘normal’ market, but as long as it continues to press higher and higher, I think we’re almost forced to own stocks.”Bears are almost nowhere to be found, with short sales dwindling to fresh lows amid January’s retail-driven short squeeze. In fact, according to a survey by the National Association of Active Investment Managers, the most-bearish group that typically has a net-short position was 80% long in stocks earlier this month before turning neutral.Add corporate America to the growing army of buyers. Companies -- a reliable ally of the last bull market -- were forced to retreat and preserve cash during the 2020 pandemic, but are splurging on their own shares again. Their announced buybacks have averaged $6.9 billion a day this earnings season, the most since at least 2006, according to quarterly data compiled by EPFR.“Buybacks tend to have a very high correlation with the performance of the S&P 500, so the boom in buybacks is encouraging,” said Winston Chua, an analyst with EPFR.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • These Are The 5 Best Stocks To Buy And Watch Now

    Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?

  • This Is My No. 1 Stock to Buy to Generate Life-Changing Wealth

    I’ve been working on a what I consider to be the most exciting project of my life for over six months now… It’s called Innovation Investor. It’s my latest (and greatest) financial research product wherein I have handpicked my favorite hypergrowth investment opportunities in the market, and put all of them into a carefully crafted and actively managed portfolio for you to follow…InvestorPlace - Stock Market News, Stock Advice & Trading Tips While I may be biased, I honestly think this is the best investment portfolio in the world today. And I have a few reasons for that: For starters, I singlehandedly created this portfolio – and financial data tracking site TipRanks has regularly rated me as the number one stock picker in the world (out of more than 15,000 experts, including all the analysts on Wall Street). This portfolio, then, is the only portfolio that can claim to have the top stock picks from the world’s top stock picker. Beyond that, Innovation Investor’s portfolio is fundamentally different (and superior) to everything else out there… It’s not just another portfolio of Wall Street’s favorite stocks. Far from it. It’s a portfolio of the most innovative companies on the planet – hypergrowth stocks that are on the cutting edge of defining a cleaner, faster, cheaper, and better tomorrow. I’m talking the world’s best self-driving companies, and its top electric vehicle makers… The most disruptive clean energy pioneers, and the most compelling e-commerce platforms… The most exciting AI startups, and the most explosive space pioneers… The tastiest plant-meat makers, the fastest-growing telehealth platforms, the strongest biotech companies… The most addicting digital entertainment services, and the world’s smartest Big Data enterprises… All those hypergrowth investments, packaged into one portfolio, to help guide you to explosive gains. And now… for the first time ever… I will debut this exciting new portfolio to the public. When? Next Tuesday, Feb. 23, at 4PM Eastern, during my first-ever Exponential Growth Summit. During the Exponential Growth Summit, I will show you how to access this portfolio. But more than that, I will also reveal the full details (name, ticker symbol, and key business details) of my single favorite hypergrowth stock pick over the next decade… one that could, by itself, generate life-changing wealth – for FREE. All you have to do is join me at the Exponential Growth Summit. As a member of Hypergrowth Investing, you are already set to receive key details over the next week that will reveal more about my Exponential Growth Summit, Innovation Investor, and my No. 1 stock pick for the next 10 years. I promise this is something you don’t want to miss… P.S. Speaking of multi-bagger gains, I like to say that where there’s disruption, there’s opportunity. And there’s a massive opportunity happening right before our eyes. Remember how Jeff Bezos looked at the state of the retail market, and he created Amazon.com in response? Yes, this opportunity is that huge. As you know, I don’t make stock picks on a whim. I spend countless hours analyzing them, creating models, and measuring their long-term potential. It’s how I got to be America’s No. 1 stock picker, according to TipRanks. So believe me when I tell you that there’s a stock out there that could very well become “the next Amazon.” And this Tuesday I will reveal its industry, name, and ticker symbol… for free. Watch the video below to learn more about this hypergrowth opportunity and reserve your seat here! On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article. By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s how his Daily 10X Report has averaged up to a ridiculous 100% return across all recommendations since launching last May. Click here to see how he does it. More From Hypergrowth Investing FuboTV Stock Is Heading to $200. Buy It Before It Goes Parabolic The Best Stocks to Buy in the Market Today, According to Jeff Bezos 7 Explosive Cryptocurrencies to Buy After the Bitcoin Halvening 15 EV Stocks to Buy as GM Goes All-Electric The post This Is My No. 1 Stock to Buy to Generate Life-Changing Wealth appeared first on InvestorPlace.

  • Gold’s Near-Term Brush with The 1600s

    No, we’re not revising downward our Gold forecast high for this year of 2401.

  • These Are The Best Robinhood Stocks To Buy Or Watch Now

    Buying a stock is easy, but purchasing the right stock without a proven strategy is incredibly hard. Here are the best Robinhood stocks to buy now.