Shares of ZoomInfo Technologies Inc. undefined got off to a flying start, as the sales and marketing software company's stock opened at nearly double its initial public offering price. The first trade was at $40 at 12:34 p.m. Eastern for 3.6 million shares, or 90.5% above its IPO price of $21. The company raised $934.5 million in the IPO. The stock has eased slightly since the open to trade up 84%. ZoomInfo went public at a good time for the IPO market, as the Renaissance IPO ETF undefined has soared 21.3% year to date, while the S&P 500 undefined has lost 3.9%.
Warner Music Group Corp. shares undefined rose another 5% Thursday on their second day of trading, after gaining more than 20% in their debut on Wednesday. The company priced its initial public offering, the biggest of the year so far, at the high end of its price range. The company is the parent of record labels including Warner Records and Elecktra Records and raised $1.925 billion with the offering of 77 million shares. Warner Music went public at a good time for IPOs, as the Renaissance IPO ETF undefined has run up 17% over the past three months while the S&P 500 undefined has fallen 0.8%.
Some 1.88 million people applied for traditional jobless benefits at the end of May and another 623,000 filed new claims under a federal-relief program, but the number of unemployed collecting government checks appears to have stabilized as more workers return to their jobs.
On the internet you may be engaged, but you’re not necessarily informed.
Shares of SeaWorld Entertainment Inc. undefined rallied 5.6% in morning trading Thursday, after the theme park operator said its Busch Gardens Tampa Bay and Adventure Island parks will reopen on June 11. The parks will require advance online reservations to help manage capacity and maintain social distancing within the parks. "We are committed to the health and safety of our guests, employees, and animals in our care, and will continue to follow the guidance from health officials as conditions evolve," said Interim Chief Executive Marc Swanson. The stock has shed 21.2% over the past three months, while the S&P 500 undefined has eased 0.1%.
Royal Caribbean Cruises Ltd. undefined said Thursday it is offering up to $2 billion in senor notes and convertible bonds that mature in 2023 in two separate offerings. Proceeds of the deal will be used for general corporate purposes, which may include repaying debt, the cruise operator said in a statement. Cruise companies have been hit hard by the coronavirus pandemic, which has forced them to stop voyages. Shares fell 3.4% premarket and are down 56% in the year to date, while the S&P 500 undefined has fallen 3%.
J.M. Smucker Co. undefined stock fell 2.3% in Thursday premarket trading after the food company gave weak full-year earnings guidance. Smucker reported fiscal fourth-quarter net income of $226.3 million, or $1.98 per share, up from $71.5 million, or 63 cents per share, for the same period last year. Adjusted EPS totaled $2.57, exceeding the $2.28 FactSet consensus. The company posted sales of $2.09 billion, up from $1.90 billion last year and ahead of the $2.04 FactSet consensus. The food company attributed the growth to demand related to COVID-19, and forecasts continued pandemic-related demand. "Looking ahead, we anticipate increased at-home consumption to continue during the beginning of our fiscal year 2021 - though at a more moderate rate as stock-up purchasing in the fourth quarter is not anticipated to reoccur, and significant declines for the away from home business are expected to persist throughout the year," said Mark Smucker, chief executive of the company, in a statement. Smucker expects full-year fiscal 2021 sales to fall 1% to 2% year-over-year, and adjusted EPS of $7.90 to $8.30. The FactSet consensus is for sales of $7.75 billion, suggesting a decline of 1.1%, and EPS of $8.46. Smucker attributes the sales decline to lapping the $185 million of incremental net sales in the fourth quarter of fiscal year 2020 and a $120 million reduction in the away from home business. Smucker stock has gained 10.1% for the year to date while the S&P 500 index undefined is down 3.3% for the period.
LVMH Moet Hennessy Louis Vuitton SE said Thursday that it isn't considering buying shares in Tiffany & Co. on the open market. The French company said its board met on Tuesday to discuss the impact of the coronavirus pandemic on Tiffany and the agreement between the companies. Shares in the U.S. company fell sharply on Tuesday after media reports that the roughly $16 billion takeover offer made by the French luxury company now looked uncertain.
Shares of Genius Brands International Inc. undefined took a morning dive into negative territory Thursday, putting them in danger of snapping a 4-day win streak in which they have rocketed 338%, after the kids media company registered the sale of up to 60.1 million shares of stock by selling stockholders. The registered shares include 31.1 million common shares and 29.0 million shares that can be issued if outstanding warrants are exercised, at an exercise price of 21 cents a share. The warrants were issued to accredited investors in a private placement on March 17. The company currently has 96.33 million shares outstanding, according to FactSet. The company said it will not receive any proceeds from the sale of shares. The stock dropped 12.5% to $6.94, prior to a trading halt for volatility, after being up as much as 47.9% earlier at an intraday high of $11.73. The stock has run up 2,025.6% over the past month, while the S&P 500 undefined has gained 10.1%.
Shares of American Airlines Group Inc. undefined jumped 9.6% to a 2-month high in morning trading Thursday, after the air carrier said it expects to fly in July 2020 55% of the domestic capacity of the same period a year ago. The company also expects to fly in July about 20% of last year's international capacity. "We're seeing a slow but steady rise in domestic demand," said Vasu Raja, senior vice president of network strategy. "After a careful review of data, we've built a July schedule to match." The company the average load factor has improved to 55% for the May 24-May 29 period, compared with 41% for the May 1-May 23 period and 15% for April. Separately, American said it was reopening 11 Admirals Club in 10 cities, on June 22. The stock has declined 29.9% over the past three months, while the U.S. Global Jets ETF undefined has lost 25.3% and the Dow Jones Industrial Average undefined has slipped 3.3%.
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|30 yr fixed Jumbo||3.53%|
|30 yr fixed||3.45%|
|15 yr fixed||2.82%|
|10 yr fixed||2.88%|
|30 yr fixed refi||3.54%|
|15 yr fixed refi||2.91%|
|5/1 ARM refi||3.30%|
|$30K Home Equity Loan||5.24%|
|$50K Home Equity Loan||3.74%|
|$75K Home Equity Loan||3.74%|
|$100K Home Equity Loan||4.12%|
|5 yr CD||0.80%|
|2 yr CD||0.63%|
|1 yr CD||0.57%|
|MMA Savings Jumbo||0.36%|
‘Without focused action, the pending tsunami of evictions and homelessness will disproportionately affect Black and brown people.’
Spending for U.S. construction projects dropped a smaller than expected 2.9% in April, the Commerce Department said Monday. Analysts polled by Mark...