Lifshitz Law Firm, P.C. Announces Investigation of AEGN, COHR, KSHB, GNLN, KSU, CP, LEAF, MLND, MSGN, MSGE, and TPCO

Reuters
South Korean battery makers agree $1.8 billion settlement, aiding Biden's EV push
South Korean battery makers LG Energy Solution and SK Innovation Co agreed on Sunday to settle disputes over electric-vehicle (EV) battery technology, avoiding a potential setback for U.S. EV ambitions. The settlement by affiliates of two of South Korea's biggest conglomerates came hours before a Sunday night deadline for President Joe Biden's administration to decide whether to take the rare step of reversing a U.S. International Trade Commission decision (ITC). In a statement, Biden called the settlement "a win for American workers and the American auto industry.... We need a strong, diversified and resilient U.S.-based electric vehicle battery supply chain".
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Quartz
How much money does Nigeria owe China?
As trade and investment have grown between China and Nigeria, so has lending, leading to an increased focus on the balance of the bilateral relationship.
4h ago
Reuters
Bitcoin above $60,000 again on talk of reduced supply
Bitcoin (BTC) is up 116% from the year's low of $27,734 on Jan. 4. It crossed the $60,000 mark for the first time on March 13, hitting a record $61,781.83 on Bitstamp exchange, just after U.S. President Joe Biden signed his $1.9 trillion fiscal stimulus package into law. Justin d'Anethan, sales manager at digital asset company Diginex in Hong Kong, said investors had turned their attention to stock markets and other cryptocurrencies in the past couple of weeks, leaving Bitcoin idling in the upper 50-thousand dollar levels.
10h ago
FX Empire
S&P 500 Weekly Price Forecast – Stock Markets Have Strong Week
The S&P 500 has exploded to the upside during the course of the week to reach towards the 4100 level.
2d ago
Bloomberg
Whipsawed Bitcoin Investors Eye Coinbase as Steadier Crypto Bet
(Bloomberg) -- For many investors, Coinbase Global Inc.’s trading debut next week will be an entry into the $2 trillion cryptocurrency market.And for those who have already gorged on Bitcoin, the arrival of the largest U.S. cryptocurrency exchange on the Nasdaq Stock Market could be what is needed to settle portfolios roiled by the asset class’s notorious volatility.There are other stocks already tied to the bits and bytes of the various blockchains. Elon Musk’s Tesla Inc. and Michael Saylor’s MicroStrategy Inc. have both notably added billions worth of Bitcoin to their treasuries. But with Coinbase’s public listing, investors will have the choice of an equity tied to cryptocurrencies that is -- so the hope goes -- less likely to suffer persistent cycles of boom and bust.“For a crypto investor that also buys stocks, it has the ability to diversify risks as there is a very profitable exchange platform that trades on another venue (stock exchange) whose flows of buyers and sellers can be less correlated than many crypto prices,” wrote Greg Foss, a veteran credit trader, Bitcoin investor and chief financial officer for Validus Power Corp., in an email reply to questions.Coinbase is planning to go public through a direct listing in which it will not raise any new capital, it said in an S-1 filing. The direct listing allows current shareholders to trade their shares without a lock-up period that is typical in an initial public offering. It was valued at about $90 billion in its final week of trading on Nasdaq’s private market, Bloomberg News reported.Still, because volume and price tend to go hand-in-hand, Coinbase’s transaction revenue, its largest segment, could remain susceptible to cryptocurrency market gyrations.“In a traditional stock portfolio it gives exposure to an exchange platform that generates trading fees on crypto,” wrote Foss. “Those fees increase with volumes and volumes typically increase with prices, so there is a beta trade there.”Coinbase said Tuesday that it expects to report a first-quarter profit of $730 million to $800 million, more than double what it earned in all of 2020. The bumper quarter for the exchange comes amid surging cryptocurrency prices. The Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and six other cryptocurrencies advanced by more than 100% in each of the last two quarters.Coinbase may have further appeal for investors. The exchange could provide an accessible diversified investment into the space, where there’s a proliferation of cryptocurrency tokens and few passive vehicles to spread bets around, according to Gil Luria, head of institutional research at D.A. Davidson & Co.“Coinbase will win regardless of which crypto asset emerges as a winner, and their revenue is tied more to trading volumes, which are often less volatile than asset values,” Luria wrote in an email.But investors looking to add some stability to their cryptocurrency portfolios may want to exercise patience.Kevin Kelly, global head of macro strategy at research firm Delphi Digital, warns that those seeking a lower volatility investment might want to sit out Coinbase’s first week of trading.“I expect to see a lot of volatility next week once COIN begins trading, but eventually I think we’ll see it trade more in line with the direction of the broader crypto market,” Kelly wrote in an email. “However, I view it as a lower beta play on the continued expansion of crypto with less downside risk to crypto asset prices; in other words, COIN is more agnostic to crypto asset prices and may be an attractive opportunity for investors looking to gain exposure to the continued adoption of crypto without taking on similar levels of price volatility.”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.
2d ago
CoinDesk
Daniel Loeb’s $17B Hedge Fund Is Keeping Crypto With Coinbase – And Maybe Even Staking It
Third Point is the latest institutional stalwart to be revealed as a client of Coinbase Custody.
2d ago
Reuters
S.Korean battery makers agree $1.8 billion settlement, aiding Biden's EV push
WASHINGTON/SEOUL (Reuters) -South Korean battery makers LG Energy Solution and SK Innovation Co agreed on Sunday to settle disputes over electric-vehicle (EV) battery technology, avoiding a potential setback for U.S. EV ambitions. The settlement by affiliates of two of South Korea's biggest conglomerates came hours before a Sunday night deadline for President Joe Biden's administration to decide whether to take the rare step of reversing a U.S. International Trade Commission decision (ITC). In a statement, Biden called the settlement "a win for American workers and the American auto industry.... We need a strong, diversified and resilient U.S.-based electric vehicle battery supply chain".
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CoinDesk
Bitcoin Price Shoots Past $60K, Ether Hits New All-Time High in Early Saturday Trading
The price action comes just ahead of a highly anticipated Nasdaq listing for leading U.S. crypto exchange Coinbase.
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Bloomberg
Arm Battle With China CEO Escalates, Complicating SoftBank Sale
(Bloomberg) -- The battle for control of Arm Ltd.’s China business is escalating with new lawsuits aimed at keeping the unit’s controversial chief executive in power, further complicating SoftBank Group Corp.’s efforts to sell the business to Nvidia Corp.The dispute erupted almost a year ago in June after the board voted to oust Arm China Chief Executive Officer Allen Wu for conflicts of interest, but he refused to leave. Now the Chinese unit, which remains under Wu’s control, has filed lawsuits against three senior executives the board designated to replace him, according to people familiar with the matter. The previously unreported suits could take years to resolve, suggesting Wu may remain entrenched.Wu fired the three men -- including co-CEO Phil Tang -- but they were subsequently reinstated by the board. In the new lawsuits, Arm China is suing the trio, demanding they return company property, according to the people.Arm China declined to comment on any ongoing legal cases or possible settlement talks. It did say the three executives had caused “material damages” to the company and they had been terminated for legitimate reasons.Tang didn’t return requests for comment. Arm Ltd. declined to elaborate, saying it won’t comment on pending legal matters.The complex tussle has thrown into question the future of Arm, whose semiconductor technology is the world’s most widely used for smartphones and is increasingly deployed in computers. SoftBank founder Masayoshi Son agreed to sell the British chip designer to Nvidia for $40 billion last year, but the path for completing that transaction is growing increasingly difficult.The China dispute also raises questions about Beijing’s willingness to protect foreign investment in the world’s second-largest economy. Arm Ltd. sold a majority stake in the China unit to a consortium of investors, including Beijing-backed institutions. That has complicated the British firm’s efforts to manage Arm China and Wu, who has support from local authorities in Shenzhen.Both sides appear to be at a stalemate. Wu, a Chinese-born U.S. citizen, pulled back from signing settlement agreements worth tens of millions of dollars if he would leave the company, the people said, asking not to be identified talking about legal matters. At the same time, two minority shareholders in Arm China linked to Wu have filed lawsuits to overturn his June 4 dismissal, they said.SoftBank opened negotiations with him last year and had hoped to reach some sort of resolution, they said. Instead the court battles are deepening and the Japanese company has soured over the increasingly complicated dispute, the people said. SoftBank is now resigned to letting the legal proceedings take their course and there are no current negotiations with Wu, according to one of the people.“We are going through a leadership change in China; it’s taking time to resolve,” said Arm Ltd.’s Chief Executive Officer Simon Segars in an interview with Bloomberg Television recently. “It’s hard. But we are confident that’s going to get resolved.”SoftBank and Nvidia declined to comment on the dispute in China.Arm China said in a statement that Wu’s position “is compliant with legal registration and confirmed by China law and regulations.”Read more: Arm Takes Aim at Intel Chips in Biggest Tech Overhaul in DecadeThe standoff accords a relatively unknown executive outsized influence over one of the industry’s most important pieces of technology, in the world’s biggest internet and semiconductor market. Chinese companies need unfettered access to Arm’s products to push forward with the country’s attempts to make itself more independent in chip technology, an area where it’s largely reliant on imports. Beyond resolving the stalemate, Nvidia and SoftBank also need Beijing’s signoff to seal their deal, and it’s unclear whether Wu’s presence would complicate that.Wu’s hold on Arm China is partially due to local laws which make it difficult to change control of a company unless you’re physically in control of the company stamp and registration documents. He’s refused to give them up and has used company funds to pay for legal fees incurred in his attempt to fight off his dismissal, the people said.Arm China said payment of legal fees “is made in compliance with company policies as well as China laws and regulations.”His ultimate goals appear to be a large cash payoff and immunity from subsequent legal action, according to people who’ve spoken with him. Inside Arm China, which is responsible for selling licenses to its chip designs and fundamental technology in the country, Wu has told local staff he’s not going anywhere. He recently gave employees Chinese New Year cash presents in a red envelope with his surname on it.Arm China said the money came from Wu personally to show his appreciation to colleagues, a tradition at Chinese New Year in the country.Hearings in the case against the three executives are expected to take place in late May, one of the people said. Separately, two minority shareholders in Arm China have sued the Chinese entity in Shenzhen to nullify the board’s decision to oust Wu. These two cases are now being merged and hearings are slated for late April, the people said.Son told investors as recently as February that he expects to close the Arm sale and “I don’t have any Plan B.”Arm, for its part is trying to make sure that its technology remains pervasive in China despite U.S. sanctions intended to curb the supply of American technology to major companies like Huawei Technologies Co. While Arm is a U.K.-based company part of its operations are in the U.S. making its products subject to controls.The Chinese government has not stated its position on the Arm China leadership struggle, but the unit has several government-backed shareholders including sovereign wealth fund China Investment Corp. and the Silk Road Fund.In his interview with Bloomberg Television, Arm Ltd. CEO Segars said that the ten-month standoff hasn’t hurt Arm’s business in China. Lack of travel for face-to-face meetings during the pandemic has prolonged the process of changing leadership in China, he said.“When we announced the deal in September, we said it would take about 18 months,” he said. “We remain confident in that timeline.”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.
2d ago
Yahoo Finance
‘This is the single worst time to be a passive investor’: veteran investor
Stock picking is ripe for a shift away from passive investing, which could suffer a decade of low or nonexistent returns, says Bill Smead.
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Reuters
Analysis: Investors keep faith in U.S. value stocks as tech roars back
A rebound in growth and technology stocks has investors gauging whether a months-long rally in the shares of banks, energy companies and other economically sensitive names is running on empty or simply refueling. The Russell 1000 value index started 2021 with its biggest quarterly outperformance relative to its growth counterpart in 20 years, as investors poured money into the shares of battered companies they thought would benefit most from a vaccine-generated reopening of the U.S. economy. The script has flipped since mid-March, with the Russell growth index gaining over 6% compared to a rise of just over 2% for value.
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Fourth stimulus check: Lawmakers press Biden to say yes to more payments
The president is being urged to roll more direct aid money into his infrastructure bill.
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Bloomberg
Chinese Assets Appeal Eroded by Dollar Strength, U.S. Rates
(Bloomberg) -- Chinese assets are losing their shine after an impressive start to the year, overshadowed by a stronger dollar, higher U.S. Treasury yields and a domestic campaign to cut financial risk.The nation’s benchmark stock index remains 13% below a 13-year high in early February, following a brutal selloff that wiped out more than $1.3 trillion in market value. The yuan just suffered its worst month in a year in March, erasing all its 2021 gains against the greenback. Chinese sovereign bonds, a sanctuary during the recent global rout, saw foreign investors lower their holdings last month for the first time in more than two years.The sharp reversal of fortunes came as confidence grew in a strong U.S. economic recovery that is reclaiming the allure of dollar assets around the world. The latest underperformance of Chinese markets also resulted from Beijing’s decision to resume a battle on debt that was interrupted by the trade war with Washington and the pandemic.Concerns about inflation and tighter monetary conditions mean appetite for Chinese shares will likely remain subdued, while the country’s government debt market faces the test of a supply glut later this year, investors and analysts say. The yuan could weaken further as the dollar extends its global resurgence.“China’s bull run is being tested,” said Adrian Zuercher, head of global asset allocation of UBS Chief Investment Office. “Volatility will stay elevated in the near term.”Subdued TradingAfter delivering a world-beating rally earlier in the year, Chinese shares have reversed course since February, when it became increasingly clear that policymakers were shifting their priority to taming asset bubbles and reducing financial leverage.The world’s second-largest stock market is $838 billion smaller than at its February peak and trading interest has been waning. Daily average turnover on China’s two stock exchanges was 670 billion yuan ($102 billion) so far this month, the lowest since May, according to data compiled by Bloomberg.UBS’ Zuercher said he expects rising Treasury yields to be a major source of near-term volatility in China’s equity market, as it will continue to exert pressure on valuations of the country’s growth stocks and trigger rotation.Echoing the view, Herald van Der Linde, HSBC Holdings Plc’s head of Asia Pacific equity strategy, said there remains downside risk to Asian equities in the near term and “China is no exception”.Domestically, a central bank unwilling to keep funding conditions too loose, a contrast to its peers in other major economies, has also disappointed stock investors. Apart from its deleveraging campaign, signs of inflationary pressures, as shown in March’s consensus-beating 4.4% jump in China’s producer prices, could prompt Beijing to further dial back its pandemic-induced economic stimulus.“We believe monetary policy might be tightened,” Hanfeng Wang, a strategist at China International Capital Corp., wrote in a note this week, adding that investors should pay attention to policy signals from the next meeting of the Politburo, the Communist Party’s top decision-making body.Bonds PressuredWhile Chinese government bonds outpaced their competitors in the first quarter as their haven status helped them stand out as a bulwark amid the global slump, they are facing a host of challenges in the coming months.In addition to a longer-than-expected phase-in period for the inclusion in FTSE Russell’s World Government Bond Index, a surge in bond supply from local governments and a narrowing China-U.S. yield gap also threaten to reduce the appeal of Chinese debt.Now at 3.21%, yields on China’s benchmark 10-year sovereign notes are expected to rise to 3.5% by the end of this quarter, according to Becky Liu, head of China macro strategy at Standard Chartered Plc.As China’s yield premium over Treasurys thinned, global investors last month trimmed their holdings of Chinese government debt for the first time since February 2019, a trend that is expected to continue for some time. The yield gap fell to 144.8 basis points on March 31, the narrowest since Feb. 24, 2020 when it was 144.2 basis points.Weaker YuanThe dollar’s renewed strength, the tighter yield gap, as well as Beijing’s latest move to boost capital outflows also have prompted analysts, including ING’s, to lower their forecasts on the Chinese currency.After rising nearly 7% against the dollar last year and reaping further gains earlier this year, the yuan suffered its worst selloff in a year last month, arresting a steady advance since May.Read: Yuan Erases Year’s Gains Against Dollar as PBOC Steps Aside“It’s about how views on the U.S. dollar have changed rapidly,” said Zhou Hao, an economist from Commerzbank AG. “People believe the U.S. economy will recover strongly in the next two years and that’s what stocks and bonds have been pricing in.”Zhou said he expects the yuan to weaken to 6.83 per dollar by the end of this year, from around 6.56 Friday.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.
2d ago
Reuters
Wall Street Week Ahead: With stocks at record highs, investors look to upcoming earnings
Wall Street is kicking off a crucial reporting season as U.S. companies provide quarterly results a year after the coronavirus pandemic crippled the economy and as investors look for reasons to support a stock market at record highs. Overall S&P 500 earnings are expected to have jumped 25% in the first quarter from a year ago, according to IBES data from Refinitiv. That would be the biggest quarterly gain since 2018, when tax cuts under former President Donald Trump drove a surge in profit growth.
2d ago
MoneyWise
These grant programs are offering homebuyers more money during COVID
Banks and agencies are expanding down payment grants and other assistance for new buyers.
2d ago
Yahoo Finance
Levi's 'balloon jeans' emerge as the post pandemic hot style
Levi's sees a pickup in its men's business as the pandemic starts to round the corner at long last. Here's what men are buying for their post-pandemic lives.
2d ago
Bloomberg
Rattled Archegos Stocks Investable Again After $194 Billion Blow
(Bloomberg) -- The stocks that were hammered as collateral damage in the liquidation of Archegos Capital Management are seeing a silver lining from their slump: they’re becoming investable again.Companies including U.S. media conglomerates ViacomCBS Inc. and Discovery Inc., as well as apparel retailer Farfetch Ltd. saw a total of about $194 billion in market value erased as banks from New York to Zurich to Tokyo unwound leveraged equity bets by Archegos.At first, the forced selling in such a specific group of shares raised fears of potential undisclosed issues with the stocks, fueling even more losses. With that scenario now discarded, and with the dust from the Archegos blowup settling, analysts are saying investors should look at some of these names again.“Usually these dislocations where you get forced selling for non-fundamental reasons work out to be very good buying opportunities,” said Greg Taylor, chief investment officer at Toronto-based Purpose Investments. “The counter to that is having to figure out how much of the runup was due to the buying that shouldn’t have been there either. So you have balance that both out.”Read more: Block-Trade Bevy Wipes $35 Billion Off Stock Values in a DayTake ViacomCBS for example.Until late in March, the company was among the top performing stocks in the benchmark S&P 500 Index, alongside Discovery, boosted in part by optimism over its streaming strategy but also thanks to a massive play by Bill Hwang’s Archegos. The fund at one point amassed $10 billion worth of ViacomCBS shares and colossal positions in a few other companies.Read more: Bill Hwang Was a $20 Billion Whale, Then Lost It All in Two DaysSince Archegos’ blowup and after a 52% drop in ViacomCBS’s stock over the course of a week -- which in turn brought its valuation down by over 50% from a peak on March 22 -- at least six research firms have raised their ratings on the company, according to data compiled by Bloomberg.At Wolfe Research, analyst John Janedis said in a note that ViacomCBS shares are now a buy opportunity as the media company’s valuation appeared attractive after its selloff. He also pointed to its streaming business as a potential tailwind.A similar view is also behind Deustche Bank analyst Bryan Kraft‘s decision this week to raise Discovery’s 12-month forecast to $60 from $35. The company’s improved growth outlook warrants a higher valuation, he noted. Farfetch also got a “buy” recommendation from JPMorgan analyst Doug Anmuth on Thursday, who said the stock delivers a “compelling buying opportunity.”No BargainsWhile the stocks caught at the center of the Archegos crisis are definitely hurting, they aren’t exactly cheap. Their average price-to-earnings ratio -- a measure which indicates how expensive a company is -- is in line with the 10-year median, which signals how high valuations had gotten before the selloff. Aside from ViacomCBS, Discovery and Farfetch, Chinese companies like GSX Techedu Inc., Tencent Music Entertainment Group, Baidu Inc., VipShop Holdings Ltd. and IQiyi Inc. were also caught in the crosshairs of Archegos.Determining whether the selloff has turned a once-overvalued stock into a good buy will require some digging, said Barry Schwartz, chief investment officer at Baskin Wealth Management.“If you’ve studied the company and you understand the business and you see this price drop as overdone, then take that opportunity to buy their shares,” Schwartz said by phone. “If you haven’t done your homework and you’re thinking this is another GameStop situation, you’re going to be the sucker at the table.”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.
2d ago
Bloomberg
Hard Time Thinking Debt And Deficit Don't Matter: Marks
Apr.09 -- Oaktree Capital Management Co-Founder and Co-Chairman Howard Marks says that debt and deficit should still be a concern because of the unprecedented nature of the crisis. He thinks that assuming debt should not be a concern right now is similar to a credit card with no limit. He joins David Westin on "Bloomberg Wall Street Week."
2d ago
Reuters
Exclusive: BlackRock, Mustier's blank-check firm eye Credit Suisse fund management arm - sources
BlackRock and Jean-Pierre Mustier's blank-check firm are among investors expressing interest in Credit Suisse's asset management arm, three sources told Reuters, as the Swiss lender explores options for the unit after a run of costly scandals. U.S. investment firm State Street Corp is also eyeing a rival bid for all or part of the Swiss bank's fund management business, while European asset managers including Germany's DWS are waiting in the wings, the sources said, speaking on condition of anonymity. Former UniCredit boss Mustier's blank-check firm Pegasus Europe, which focuses on financial services investments, is due to list in Amsterdam between the end of April and early May, two sources said.
2d ago
CoinDesk
Gaming Company The9 to Buy 2,000 Bitcoin Mining Machines for About $6.72M in Stock
The company also completed the signing of definitive agreements for 12,246 units of bitcoin mining machines with a total hashrate of 288PH/S.
2d ago

Symbol	Last Price	Change	% Change
AEGN Aegion Corporation	28.45	-0.07	-0.25%
COHR Coherent, Inc.	265.56	+1.62	+0.61%
CP Canadian Pacific Railway Limited	375.95	+0.64	+0.17%
GNLN Greenlane Holdings, Inc.	6.04	+0.47	+8.44%
KSHB KushCo Holdings, Inc.	1.2900	+0.0400	+3.20%

S&P 500

Dow 30

Nasdaq

Russell 2000

Crude Oil

Gold

Silver

EUR/USD

10-Yr Bond

GBP/USD

USD/JPY

BTC-USD

CMC Crypto 200

FTSE 100

Nikkei 225

Lifshitz Law Firm, P.C. Announces Investigation of AEGN, COHR, KSHB, GNLN, KSU, CP, LEAF, MLND, MSGN, MSGE, and TPCO

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