What's in for Bank of America after the earnings report?Today we saw the earnings report for Bank of America and it did not meet the investor's expectations. So far the earnings season (for the banks) starts a bit off. The EPS came above expectations at 0.59 versus 0.54 expected. Revenue though came in with a miss - 20.1B against 20.56B expected. The main cause for the miss cited is the COVID-19 pandemic.
RSI is already crossing from overbought territory, though MACD's crossing is lagging. The histogram is showing a divergence with the price which is in line with RSI's early divergence with the price.
My expectations are for a drop towards the trend line support at the $31.35 zone. A breach there may lead to a potential drop towards $30.61 and by this jeopardizing the uptrend.
Stockstotrade
Tilman Fertitta Is in Talks to List Casino, Dining firm Via FSTTilman Fertitta Is in Talks to List Casino, Dining Assets Via SPAC
Texas billionaire and Houston Rockets owner Tilman Fertitta is in talks to take his casino and restaurant empire public through a merger with blank-check firm Fast Acquisition Corp., according to people with knowledge of the matter.
The special purpose acquisition company is in talks to raise more than $1 billion in new equity to support a transaction, said the people, who asked to not be identified because the matter isn’t public. The deal could value the combined entity at up to $7 billion including debt, one of the people added.
The new company, which Fertitta would still control, is set to include casinos and restaurants under the Golden Nugget and Landry’s umbrellas, they said. If talks are successful, a deal could be announced n the coming weeks. Terms may change and discussions could still fall apart.
Representatives for Golden Nugget and Fast Acquisition declined to comment.
finance.yahoo.com
Oppenheimer Analyst Says buy, following of some positive dataOppenheimer 5-star Analyst Says BioNano Genomics is ready to Execute in 2021.
the latest move was decidedly upbeat. In Wednesday’s session, the stock took off to the tune of 40% following the publication of some positive data.
article which made side-by-side comparisons between Bionano’s optical genome mapping platform Saphyr and PacBio's HiFi chemistry revealed that Saphyr had the upper hand on several metrics.
Across 32 different human genomes, PacBio technologies found only 72% of the large SVs (structural variants) that Bionano’s optical genome mapping (OGM) detected.
Saphyr was also found to be better at locating indels in regions correlated to neurodevelopment.
Additionally, Saphyr appears to be more cost effective. The platform’s estimated cost of $500 per genome coming in far below the $10,000-20,000 per genome when HiFi and SMRT sequencing are put into action.
Oppenheimer’s Kevin DeGeeter believes the data should help Saphyr make further inroads in the “large SV research market.” The analyst views 2021 “largely as an execution year.”
We expect the data to support broader adoption of Saphyr for de novo sequencing and research applications. the 5-star analyst said.
“Furthermore, we expect 2021 to be an important year for adoption of Saphyr for clinical cytogenetics market based on a series of positive recent publications... Based on our current assessment of the competitive landscape, we do not believe long-read sequencing technologies can replicate Saphyr's performance and cost structure for digital cytogenetics testing.”
Accordingly, DeGeeter reiterated an Outperform (i.e. Buy) on BNGO shares, along with a $1.5 price target. The implication for investors? Strong upside of 113% .
Two other analysts have thrown the hat in with a BNGO review recently, one saying Buy and the other recommending a Hold -- all add up to a Moderate Buy consensus rating. Meanwhile, the average price target stands at $1.42, implying gains of 101% could be in the cards over the next 12 months.
finance.yahoo.com
FDA identifies "Assay Kit" able to detect SARS-CoV-2 mutationsU.S. FDA Lists Applied DNA’s Linea™ COVID-19 Assay Kit as 1 of Only 2 EUA-Authorized Tests Able to Detect S-Gene Mutation Found in SARS-CoV-2 U.K. Variant (B.1.1.7)
(FDA) published a safety communication (the "Communication") that identifies the Company’s Linea™ COVID-19 Assay Kit (the "Assay Kit") as one of only two tests marketed under the FDA’s Emergency Use Authorization (EUA) that are potentially able to identify certain SARS-CoV-2 mutations, including a mutation found in the U.K. variant of SARS-CoV-2 (B.1.1.7). According to recent publications, the B.1.1.7 variant has been identified within the United States and may be associated with an increased risk of transmission of the virus that causes COVID-19.
Based on analysis conducted by the Company and FDA, one of the two S-gene targets (S1 and S2) of the Assay Kit has significantly reduced sensitivity in the presence of certain S-gene mutations, including a mutation found in the B.1.1.7 variant.
finance.yahoo.com
Disney's price on a crossroadHolidays are over and it is time to get back into the markets, refreshed and with new strength.
I am making another revision of Disney as the price on Friday closed at the internal trend support and played out the small bearish flag. Volumes were higher than Thursday as there were 12.23M shares traded against 8.951M shares on the day before Friday. The activity had increased before the weekends, but with that dip buying before the close, it looked more like long position covering.
Now two options are on the table that will be crucial if confirmed by the price action.
1. Price dips inside the $165 - $169 zone and we may see potential trend-reversing price action;
2. The zone holds and Disney'sprice resumes inside the uptrend with the broader market;
Be cautious on the first trading day after the break.
AEye Said in Talks to Go Public Via Cantor Blank-Check FirmAEye Said in Talks to Go Public Via Cantor Blank-Check Firm
CF Finance Acquisition Corp. III raised $230 million in IPO
Artificial-perception startup AEye Inc. is in talks to go public through a merger with CF Finance Acquisition Corp. III, a Cantor Fitzgerald LP blank-check firm, according to people with knowledge of the matter.
The valuation couldn’t immediately be learned. A deal hasn’t been finalized, and terms could change or talks could collapse. Shares of CF Finance Acquisition Corp. III jumped as much as 32% after Bloomberg reported the discussions.
A Cantor Fitzgerald representative declined to comment. AEye didn’t immediately respond to requests for comment.
California-based AEye makes sensor technology, known as lidar, for use in autonomous vehicles. Continental AG, Europe’s second-largest car-parts supplier, acquired a minority stake in AEye in October. Other investors include Kleiner Perkins, LG Electronics, Intel Capital and Airbus Ventures, according to AEye’s website.
CF Finance Acquisition Corp. III, led by CEO Howard Lutnick and President Anshu Jain, raised $230 million in a November initial public offering, with a goal of striking a deal in any industry or geography. “The company intends to focus on industries where its management team and founders have experience , including the financial services, health care, real estate services, technology and software industries,” it said at the time.
An earlier Cantor blank-check firm last year agreed to merge with GCM Grosvenor Inc. in a deal that took the investment manager public. In November, CF Finance Acquisition Corp. II reached a deal with View Inc., a maker of smart windows that use artificial intelligence. In December, Cantor raised $500 million for its fourth special purpose acquisition company, and this month filed for a fifth SPAC.
www.bloomberg.com
Owl Rock, Dyal Capital to go public via SPAC mergerOwl Rock and Dyal to combine to form Blue Owl, a differentiated alternative asset manager with industry leading Direct Lending and GP Capital Solutions businesses
Combined firm to manage over $45.0 billion in assets
Blue Owl to become publicly listed through a business combination with Altimar, a SPAC sponsored by an affiliate of HPS Investment Partners (NYSE:ATAC)
Blue Owl is expected to be listed on the NYSE under the ticker symbol "OWL" following the expected close of the transaction in the first half of 2021.
Transaction expected to provide approximately $1.8 billion in gross proceeds, comprised of Altimar’s $275 million of cash held in trust (assuming no redemptions) and a $1.5 billion fully committed, oversubscribed, common stock PIPE at $10.00 per share, including investments from ICONIQ Capital, CH Investment Partners, Koch Companies Defined Benefit Master Trust, the Federated Hermes Kaufmann Funds, and Liberty Mutual Investments
The founders and senior managers of Blue Owl will retain their equity stakes through the combined entity’s transition into a publicly listed company, promoting continued alignment.
The combined entity is expected to have a post-transaction market capitalization of approximately $12.5 billion.
finance.yahoo.com
SSRM Technical Analysis 🧙SSR Mining Inc is a minerals company focused on mining precious metals in the Americas. More than half Silver Standard's revenue is attributable to the production of gold, with a significant portion derived from silver production. The company owns and operates the Marigold mine in Nevada, United States; the Seabee Gold Operation in Saskatchewan, Canada; and the Pirquitas mine in Argentina. The majority of gold production is derived from the Marigold mine, and Silver Standard's silver production is principally derived from the Pirquitas mine.
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Achronix to List on Nasdaq Through Merger With ACE ConvergenceAchronix is the only independent supplier of high-performance FPGAs and eFPGA IP based data acceleration solutions used in high-growth applications including AI, cloud computing, 5G, networking and automotive driver assistance
Highly differentiated financial profile with estimated 2020 revenues of approximately $105 million, 79% gross margins and 35% operating margins with migration to next-generation products driving an estimated revenue CAGR of 20% to 25% from 2020 to 2025
Business combination with ACE Convergence Acquisition Corp. (Nasdaq: ACEV) positions Achronix to capitalize on non-cancellable backlog in excess of $160 million and over $1.1 billion in identified pipeline opportunities driven by Speedster® and Speedcore™ products
Approximately $2.1 billion estimated post-transaction equity value based on current assumptions with up to $330 million in gross cash proceeds to the company, assuming minimal redemptions
Oversubscribed $150 million fully committed common stock concurrent PIPE financing at $10.00 per share anchored by ACE Equity Partners LLC, funds and accounts managed by BlackRock and Hedosophia; and with participation from other institutional investors
Achronix expected to be listed on Nasdaq under the ticker symbol "ACHX" following an anticipated transaction close by the end of the first half of 2021
Customer validation of Achronix’s products is substantiated by nearly $240 million in orders received in 2020 . Achronix’s new Speedster7t and Speedcore products, built on leading-edge process technology, have contributed to a design pipeline value in excess of $1.1 billion and are expected to drive Achronix’s future growth.
"The next era of growth and opportunity is in the trillions of connected devices providing compute-intensive intelligence, all fueled by network connectivity and 5G,"
finance.yahoo.com
DBV Technologies rally on Positive FDA CommunicationDBV Technologies Spikes on Positive FDA Communication
DBV Technologies received positive responses from the U.S. Food and Drug Administration regarding its application for a peanut allergy treatment.
The U.S. FDA provided type A meeting requests to the questions the French company submitted in October following its receipt of a complete response letter in connection with its biologics license application (BLA) for Viaskin Peanut DBV712, its once-daily epicutaneous patch to treat peanut allergy in children ages four to 11.
"We are very encouraged by the positive feedback received from the FDA, and we appreciate the clarity provided," said Daniel Tassé, CEO of DBV Technologies. “We look forward to working with our investigators, clinical trial sites, and key stakeholders as we continue in our development of investigational Viaskin Peanut."
DBV says it will address details about a new human factor validation study and additional chemistry, manufacturing and controls data in subsequent communication with the FDA.
"We intend to advance a remediation plan for Viaskin Peanut and work closely with FDA to review protocols and re-file our BLA as soon as possible, so that we can bring Viaskin Peanut, if approved, to patients suffering from peanut allergies," Tassé said.
www.thestreet.com
finance.yahoo.com
Tilray Rally As Georgia Runoffs Signal Democratic SenateMarijuana Stocks Rally As Georgia Runoffs Signal Democratic Senate
Tilray, Inc. surge on hopes Democrats' win in Georgia could spark US legalization
Tilray, Inc. surged on Wednesday following the early results of Georgia’s key Senate runoffs that could open the door to federal cannabis reform.
With Democratic candidate Raphael Warnock claiming victory in his race against incumbent Sen. Kelly Loeffler (R -GA) and Democratic challenger Jon Ossoff winning his race against GOP Sen. David Perdue, Democrats took control of the Senate. That fuels hopes that prior roadblocks, including refusal on the part of Senate Majority Leader Mitch McConnell to bring cannabis reform bills to the chamber, could be removed to move legalization efforts forward on a national level.
the change of Senate control would catalyze constructive changes for the sector.
Democratic control of the Senate, “could help provide better access to capital, alleviate operating headwinds, and help drive industry growth.”
more moderate reform could come first, perhaps in the form of a modified Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, which could allow cannabis companies to access traditional banking and financial services and alleviate burdensome federal taxes.
“To the extent that the industry is presented with an opportunity to lobby for either of these measures, we would expect a consensus to form around the STATES Act over the MORE Act,” she said.
finance.yahoo.com
Key to that growth will be the speed in which states that voted to legalize cannabis set up policy frameworks, and at a federal level, which policy proposals receive the largest attention from legislators.
potential reforms range from mild banking reforms through the SAFE Banking Act, which would allow the industry to tap traditional financing and banking, to more progressive agenda goals like federal decriminalization and criminal expungements through the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. A combination deal could also be pushed through.
With New Jersey legalizing through a ballot initiative this November and New York increasingly looking likely to follow with legalization, according to New York Gov. Andrew Cuomo’s State of the State address.
finance.yahoo.com
AHT Technical Analysis.Ashford Hospitality Trust Inc. is a real estate investment trust that invests in full-service upscale and upper-upscale hotel properties in the U.S. The company owns and operates its assets through its operating partnership, Ashford Hospitality Limited Partnership. All of its hotels are located across the U.S. and operate under the Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton brands. Ashford's sole segment is Direct Hotel Investments, through which it owns hotels by acquisition or development. Ashford also provides rest estate investment services, such as mezzanine financing, first mortgage financing, and sales-leaseback transactions. Its revenue streams include Room revenue, Food and beverage revenue, and Other revenue. Room revenue accounts for the majority of total revenue.
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BlackBerry sold 90 smartphone technology patents to HuaweiShares of BlackBerry (NYSE:BB) soared Thursday despite an apparent lack of company-specific news. Investors may have been responding to a report published earlier this week that said the company sold some of its patents to Huawei.
Canadian newspaper The Globe and Mail reported Tuesday that BlackBerry had sold 90 smartphone technology patents to the Chinese technology giant Huawei.
BlackBerry stopped manufacturing smartphones back in 2016, but the company still has a large number of patents relating to those devices. Selling some of them is yet another clear sign that it has moved on and is putting its efforts into other businesses.
investors may be continuing to express their positive sentiment toward the tech stock, which is up more than 100% over the past six months.
www.fool.com
CHRA Awarded Large-Scale, 12-Year Ash Marketing ContractCharah Solutions Awarded Large-Scale, 12-Year Ash Marketing Contract by Dominion Energy for Beneficial Use of 8.1 Million Tons of Reclaimed Ponded Coal Ash
For the beneficiation and utilization of up to 8.1 million tons of reclaimed ponded coal ash at its Chesterfield Power Station in Chester, VA. Dominion Energy is headquartered in Richmond, VA.
As part of the agreement, Charah Solutions will install processing and transportation infrastructure in 2021 to facilitate rail transportation of the ash from Chesterfield Power Station to cement kiln feed markets.
finance.yahoo.com
AVAV to Acquire Arcturus UAV, Expanding Product PortfolioAeroVironment to Acquire Arcturus UAV, Expanding Product Portfolio and Reach into Group 2 and 3 Unmanned Aircraft Systems Segments
Total transaction value of $405 million in cash and stock, including $355 million in cash and $50 million in AeroVironment stock.
Arcturus UAV has a demonstrated track record of solid performance, with topline growth exceeding 20 percent for each of its last two fiscal years.
Arcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value
Arcturus UAV is well positioned for ongoing United States Special Operations Command (USSOCOM) Mid-Endurance UAS (MEUAS) task orders, United States Army Future Tactical UAS (FTUAS) program delivery orders and international contracts
Expected to be immediately accretive to revenue growth, adjusted EBITDA margin and non-GAAP diluted EPS, excluding intangible assets, amortization expense and deal and integration costs, and accretive to GAAP diluted EPS by fiscal year 2022
Group 2 and 3 UAS and services, collectively, potentially represent more than one billion dollars in annual contract value, according to an independent forecast.
The Arcturus UAV team has produced strong growth in recent years and has secured strategically important wins in the MEUAS and FTUAS programs, positioning Arcturus as a leader for next-generation program requirements
In connection with the acquisition, AeroVironment has received commitments for a $200 million Term Loan Facility and $100 million revolver (undrawn at close) with Bank of America, N.A. acting as Administrative Agent, and with BofA Securities, Inc., JPMorgan Chase Bank, N.A. and U.S. Bank National Association acting as arrangers. AeroVironment will fund approximately $155 million of the acquisition from cash on hand.
finance.yahoo.com
WiMi Obtains Patent for New 3D Holographic Pulse Laser DeviceWiMi Obtains Patent for New 3D Holographic Pulse Laser Processing Device to Further Advance the Application of Holographic Technology in EV Autonomous Driving and Other EV Areas
WiMi Stock soars After Surprise Patent Announcement
Wimi obtained a patent (the "Patent") for a three-dimensional ("3D") holographic pulse laser processing device for optical holography use (the "New Device").
3D optical holography pulse laser processing devices will be widely used in the fields of autonomous driving, medical imaging, unmanned flight, holographic spectrometers, and more.
With the rapid development of the electric vehicle ("EV") industry, it is expected that pulse laser holography applications will play an increasingly important role in the collection and presentation of holographic data.
WiMi has developed the New Device to solve the problems of holographic data collection and holographic data presentation for EVs in the future.
finance.yahoo.com
Datasea to Focus on the 5G OpportunitiesDatasea Announces the Establishment of a New Company to Focus on the 5G Opportunities and Related Value-added Services
Our technology shares a particular connection with 5G messaging known as Rich Communication Services ("RCS"), which enables us to develop services related to 5G messaging. The 5G messaging involves customer-to-customer interactions and enhances traditional messaging services with new services such as multimedia messaging, commercial messaging and interactive services.
finance.yahoo.com
When will it be time to pause the GME? #stocksThis recent move in GME has be extraordinary to say the least but what matters now is when to temporarily put the controller down and take a break. On a short term basis I am watching the regression channel from the past two days. While we remain in the channel the game is still on but below the channel means its time to rest your fingers
GameStop Soars With Activist Ryan Cohen Gaining Board SeatsGameStop Soars With Activist Ryan Cohen Gaining Board Seats
GameStop Corp. jumped after activist investor Ryan Cohen stepped up his transformation efforts at the struggling video-game retailer, gaining a seat on the company’s board along with two allies.
Cohen’s RC Ventures -- GameStop’s second-largest shareholder, with a 13% stake -- has been pressing the Grapevine, Texas-based chain to undertake a strategic review to cut more costs. Cohen, the entrepreneur who helped build up the Chewy pet-supply site, also wants GameStop to increase the variety of products and services it offers online.
“We are excited to bring our customer-obsessed mindset and technology experience to GameStop and its strategic assets,” Cohen said in a statement Monday.
The stock rocketed up 210% last year on hopes that it would benefit from the release of new video-game consoles. GameStop lost some ground in early December after reporting third-quarter sales that missed estimates and announcing plans to sell more stock, but it rebounded toward the year’s end.
Along with Cohen, Alan Attal and Jim Grube are joining the GameStop board. Both men worked with Cohen at Chewy.
That news seemed to overshadowed a disappointing holiday sales release from GameStop, GameStop reported a 4.8% year-over-year increase in comparable-store sales for the nine-week holiday period ended Jan. 2. Coronavirus-related losses of store traffic knocked a high-single-digit to low-double-digit percentage off those sales, the company said, and net sales dropped 3.1% to $1.77 billion.
finance.yahoo.com
GameStop CEO George Sherman said in the news release that “together, we have reached an outcome that is in the best interest of all stockholders and can enable GameStop to accelerate efforts to deliver enhanced value for the company.”
Excitement that Cohen can help turn things around was compounded by the stock’s high short interest, estimated at about 58% of shares available for trading, according to data from S3 Partners. That’s left the stock primed for a short squeeze. But the rise of digital game downloads amid declining earnings necessitate a bold new strategy.
www.barrons.com
Avangrid $AGR - investment idea 💡 This idea is based on my technical analysis only.
Do your research and trade on your own risk!
CCIV surge on news of plans to take Lucid Motors public via SPACChurchill Capital Corp IV extends 2-day surge to over 50% on news of plans to take Lucid Motors public via SPAC
Shares of Churchill Capital Corp. IV are up over 50% in a two-day streak to start the week.
News of the SPAC potentially taking EV company Lucid Motors public is driving the share price higher.
The fourth of seven 'blank-check' companies operated by Michael Klein, Churchill Capital Corp. IV's plan for Lucid Motors would keep the SPAC craze going in 2021.
the partner firm is Lucid Motors, a relatively well-established EV manufacturer based out of Newark, California, and which targets the luxury end of the car market. The deal could potentially value Lucid at $15 billion, according to Bloomberg.
markets.businessinsider.com