Madison Square Garden Entertainment Corp
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Upside momentum continues with S&P futures edging higher, looking to make it a 9th straight day of gains overall, and the Nasdaq Composite looking at an 11th straight day of advances, with no signs of caution by investors heading into key inflation data today and tomorrow. The producer price index (PPI) for October is expected at 8:30 AM, and the consumer price index (CPI) tomorrow, but still no concerns exhibited in the bond market with the 10-year yield at its lowest level in 2-weeks around 1.45%, while gold prices are steady at $1,829 an ounce. The S&P 500 closed at an all-time high for the eighth consecutive session last night, extending the longest winning streak since 1997, as investors added the impact of $1 trillion in fresh government stimulus. That coupled with removed travel lockdowns, a strong earnings season, and positive vaccine news has boosted stocks over the last month. In Asian markets, The Nikkei Index fell -0.75% to 29.285, the Shanghai Index gained 0.24% to settle at 3,507 and the Hang Seng Index rose 0.2% to 24,813. In Europe, the German DAX is up 45 points to 16,090, while the FTSE 100 rise 0.2% to 7,313. Stocks keep pushing higher, making new all time highs each day the past week for the Dow, Nasdaq, S&P 500 and Russell 2000. Events Calendar for Today 6:00 AM ET NFIB Small Business Optimism Index for Oct 7:45 AM ET ICSC Weekly Retail Sales 8:30 AM ET Producer Price Index MoM for October…est. 0.6% 8:30 AM ET Producer Price Index YoY for Oct…est. 8.7% 8:30 AM ET PPI Ex: Food & Energy MoM for October…est. 0.5% 8:30 AM ET PPI Ex Food & Energy YoY for October…est. 6.8% 8:55 AM ET Johnson/Redbook Weekly Sales 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AFI, AGEN, APRN, BSY, CAH, CCO, CEVA, CNCE, CORR, CSII, CTG, DRNA, EBIX, ECOM, FSS, HAE, HAIN, HCI, HGV, HRMY, IGT, IIVI, ITCI, KPLT, MIDD, MRNS, MRSN, MSGE, OCGN, OSG, OWL, PLTR, PRPL, PRTY, SEAS, SSTI, STWD, SYY, TGI, VCEL, WHF, WKHS, WNC, WRK, XPEL Earnings After the Close: ACHV, AIRG, ALTO, ARLO, ASH, AVID, AXON, CALA, CCXI, CLPT, CNNE, COIN, CPRX, CPSI, CRIS, DAR, DASH,DNUT, DOCS, DSP, DV, EGAN, ELY, EPAY, EPM, EVBG, FC, FGEN, FLGT, FUBO, G, GO, HCKT, HYLN, ID, INO, KODK, LAW, LGND, LPRO, MCFE, MNKD, MODN, NVTS, OCX, ORGO, PAR, PAY, PAYS, PLUG, POSH, PUBM, PXLW, REI, RNG, RPAY, SAIL, SCSC, SEER, SGMS, SILK, SKIN, TMDX, TWNK, TWOU, U, UPST, VERI, VRM, VZIO, WES, WYNN Other Key Events: Baird 51st Annual Global Industrial Conference, 11/9-11/12 (virtual) Bank America 2021 Banking & Financials Conference, 11/9-11/10 (virtual) Cowen 7th Annual Software Bus Tour, 11/9/110 (virtual) Credit Suisse 30th Annual Healthcare Conference, 11/8-11/11 (virtual) JPMorgan Global Consumer, Retail & Luxury Conference, 11/8-11/11 (virtual) EEI Financial Conference, 11/7-11/9 (virtual) REITWorld 2021 Annual Conference, 11/9-11/12 (virtual) China PPI, CPI and M2 Money Supply for October Sector News Breakdown Consumer AMC Entertainment ($AMC) Q3 EPS ($0.44) vs est. ($0.53) on revenue $763.2M vs est. $708.3M; currently has liquidity availability over $1.8B, does not anticipate the need to borrow under revolver lines over the next 12 months CarLotz ($LOTZ) 3Q EPS ($0.03) vs est. ($0.21) on revs $68Mm vs est. $55.2Mm, will continue to open new hubs in 2022, though fewer than in 2021; says expects sequential qtrly improvement in retail units sold and retail GPU in 4Q Clarus Corp ($CLAR) 3Q adj EPS $0.50 vs est. $0.48 on sales $109Mm vs est. $106.1Mm; guides FY sales $362.5Mm vs est. $359.7Mm Freshpet ($FRPT) shares fell -14%; Q3 EPS (5c) vs est. 7c profit on revenue $107.6M vs est. $115.5M; now sees FY sales approx. $445M from prior guidance of sales exceeding $445M, adj EBITDA approx. $50M from prior view above $61M Hertz ($HTZZ)5M share Secondary priced at $29.00 R. Horton ($DHI) Q4 EPS $3.70 vs. est. $3.40; Q4 revs $8.1B vs. est. $7.94B; consolidated pre-tax profit margin improved 480 basis points to 21.3% and consolidated pre-tax income increased 63% to $1.7B; Q4 net sales orders down 33% to 15,949 homes; sees FY22 revenue $32.5B-$33.5B above consensus $32.22B International Flavors & Fragrances Inc. ($IFF) Q3 EPS $1.47 vs. est. $1.16; Q3 revs $3.07B vs. est. $2.61B; sees FY21 revs $11.55B vs. est. $10B; sees FY21 adjusted operating EBITDA margin 21% Inter Parfums ($IPAR) Q3 EPS $1.20 vs. est. $0.68; Q3 revs $263M vs. est. $262.69M; said our largest brands, notably Montblanc, Jimmy Choo, Coach, GUESS and Lanvin performed exceptionally well in the Q3 turning in gains of 26%, 40%, 98%, 27%, and 37%, respectively, as compared to 2019’s third quarter Jack Henry Associates ($JKHY) 1Q EPS $1.38 vs est. $1.32 on revs $488.1Mm vs est. $489.4Mm; guides FY adj revs $1.87-1.875B vs est. $1.91B, sees FY EPS $4.64-4.73 vs est. $4.59 Masonite ($DOOR) 3Q adj EPS $1.99 vs est. $1.87 on revs $652Mm vs est. $675Mm; guides FY adj EPS $7.95-8.25 vs est. $8.13, sees FY sales +15-17% vs est. +18.6% RealReal ($REAL) Q3 adj EPS ($0.47) vs est. ($0.50) on revenue $119M vs est. $113.3M, adj EBITDA ($31.5M) vs est. ($36M), gross profit per order $94 vs $90 YoY, GMV $368M was +50% vs 2020 and +46% vs 2019, orders 757k (+38% YoY) ThredUp ($TDUP) 3Q EPS ($0.15) vs est. ($0.16) on revs $63.3Mm vs est. $61.8Mm, qtrly active buyers 1.4Mm and orders 1.3Mm (+14% and 28%, respectively); guides 4Q revs $69-71Mm vs est. $62.8Mm Trex Company ($TREX) Q3 EPS $0.64 vs. est. $0.58; Q3 revs $336M vs. est. $325.6M; guides Q4 revs $295M-$305M vs. est. $276.3M; Net income grew 73% to $74M; diluted earnings per share of $0.64, up 73%; EBITDA grew 76% to $108M; EBITDA margin of 32.2% Energy, Industrials and Materials General Electric ($GE) to split into three public companies – GE Aviation, GE Healthcare, and the combined GE Renewable Energy, GE Power, and GE Digital businesses to become three industry-leading, global, investment-grade public companies Advanced Energy Industries, Inc. ($AEIS) Q3 adj EPS $0.89 vs. est. $0.82; Q3 revs $346.1M vs. est. $341.52M; sees Q4 adj EPS 92c plus/minus 25c vs. est. $1.12; sees Q4 revs $355M plus/minus $20M vs. est. $373.09M. Amyris, Inc. ($AMRS) shares fell -25%; 3Q adj EPS ($0.27) vs est. ($0.15) on revs $48Mm vs est. $64.2Mm; sees FY revs $330-370Mm vs est. $391.6Mm; says supply chain challenges impacting near-term performance and growth trajectory Cabot ($CBT) Q4 adj EPS $1.01 vs. est. $1.03; Q4 revs $904M vs. est. $915.01M; Q4 Reinforcement Materials led the way delivering an increase in EBIT of $167 million while Performance Chemicals also recorded strong results; sees FY22 EPS $5.20-$5.60 vs. est. $5.52 Virgin Galactic ($SPCE) Q3 EPS loss (-$0.32) vs. est. loss (-$0.28); Q3 revs $2.6M vs. est. $1.6M; commercial service on track for q4 2022; strong ticket sales at updated pricing of $450,000 per seat; cash position remains strong at approximately $1.0 billion Financials CoreCivic, Inc. ($CXW) Q3 adj FFO/share $0.48, adj EPS $0.28 vs est. $0.18, revenue $471.2M vs est. $467.1M, adj EBITDA $100.9M vs est. $85.3M; is not providing full-year guidance due to uncertainties surrounding the resurgence of Covid-19 caused by the Delta variant and the administration’s executive actions and policies related to immigration and criminal justice, but will provide FY22 guidance in February when reporting 4Q21 results Cohen & Steers, Inc. ($CNS) preliminary assets under management of $101.6 billion as of October 31, 2021, an increase of $4.3 billion from assets under management at September 30, 2021. The increase was due to net inflows of $138 million and market appreciation of $4.4 billion, partially offset by distributions of $203 million. First Advantage ($FA) files to sell 15M shares of common stock for holders Lemonade Inc. ($LMND) will acquire Metromile in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash PayPal ($PYPL) Q3 non-GAAP EPS $1.11 vs. est. $1.07; Q3 revs $6.18B vs. est. $6.23B; Q3 total payment volume of $310B, growing 26%, and 24% on an FX-neutral basis; 4.9 billion payment transactions in qtr, up 22%; expects to add about 55Mm NNAs, including about 3 million active accounts from the acquisition of Paidy; 13.3M NNAs added in qtr , bringing total active accounts to 416 million, up 15%; expects FY TPV growth to be in the range of about 33%-34% at current spot rates and about 31%-32% on an FX basis Robinhood ($HOOD) said a third party had obtained access to email addresses of about 5 mln of its customers, while full names for a different group of nearly 2 mln people in an incident, which took place on Nov. 3; said 310 people had more personal information, including names, birth, dates and zip codes compromised, while 10 customers had more extensive account details revealed Third Coast Bancshares ($TCBX)5M share IPO priced at $25.00
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Monday, November 1, 2021 Futures Up/Down % Last Dow 159.00 0.45% 35,863 S&P 500 20.25 0.44% 4,617 Nasdaq 65.50 0.41% 15,904 Another day, another record for U.S. averages with the S&P, Dow and Nasdaq looking to add to October gains and kick off the new trading month off strong. Materials and some consumer products are getting a boost after the U.S. and European Union reached a trade truce on steel and aluminum tariffs over the weekend. The two sides were working hard to reach a deal before Dec. 1, when the European retaliatory tariffs were set to double; the 25% tariffs will apply to EU exports beyond 3.3 million tons, Bloomberg reported. The EU agreed to drop retaliatory tariffs on U.S. motorcycles, jeans and bourbon whiskey per Bloomberg (shares of names like HOG looking higher). Earnings optimism also continues to offset concern over a near-term move on tapering from the Federal Reserve that could add to signals of slowing growth in the supply chain-snarled economy, ahead of the FOMC meeting later this week. In Asian markets, The Nikkei Index rose 2.6% or over 750 points to 29,647, the Shanghai Index slipped a few points to 3,544 and the Hang Seng Index dropped -0.88% or over 200 points to 25,154. In Europe, the German DAX is up about 135 points to 15,825, while the FTSE 100 gains +0.5% to 7,275. After posting the worst monthly returns since March 2020 in September, it was a rip fest in October as the S&P 500 500 gains 6.9%, the Dow Jones Industrial Average climbs 5.8%, the Nasdaq Composite adds 7.3% and the Russell 2000 jumps 4.2%. The S&P 500, Dow register 4-straight weeks of gains for the first time since mid-April, Nasdaq notches first 4-week advance since June. As for last week, the S&P 500 gains 1.33%, the Dow rose 0.4% and Nasdaq added 2.71%. overall Friday, the U.S. stock market set another round of record highs as Wall Street looked past disappointing results from major companies Apple and Amazon to wrap up its best month of the year. Market Closing Prices Yesterday The S&P 500 Index gained 8.96 points, or 0.19%, to 4,605.38 The Dow Jones Industrial Average rose 89.06 points, or 0.25%, to 35,819.56 The Nasdaq Composite climbed 50.29 points, or 0.33%, to 15,498.39 The Russell 2000 Index slipped -0.79 points, or 0.03% to 2,297.19 Events Calendar for Today 10:00 AM ET Construction Spending for September 10:00 AM ET ISM Manufacturing PMI for October Earnings Calendar: Earnings Before the Open: AMG, BEN, CNA, ENBL, IVAC, JELD, L, OIS, ON, PCG, SXC, TKR Earnings After the Close: ADC, ADTN, ADUS, ANET, APEN, BNL, BRKR, BRX, BWXT, CACC, CAR, CHGG, CLX, CRUS, CSWC, CURO, EPRT, EVER, FANG, GXO, HLIT, HOLX, IPI, KFRC, KMT, LEG, LXU, MCK, MOS, NBIX, NSP, O, OTTR, PLOW, PSA, RHP, RIG, RMBS, SBAC, SKT, SOI, SPG, TA, TTI, UAN, UNVR, VNO, VNOM, VRNS, WMB, ZI Macro Up/Down Last Nymex 0.50 84.07 Brent 0.83 84.55 Gold 4.40 1,790.30 EUR/USD -0.0009 1.1570 JPY/USD 0.18 114.17 10-Year Note +0.023 1.579% World News China’s official manufacturing purchasing managers’ index fell to 49.2, the National Bureau of Statistics said Sunday, the second month it was below the key 50-mark that is between expansion and contraction The U.K. and France have agreed to de-escalate their spat over Brexit and fishing rights following a meeting between French President Emmanuel Macron and British Prime Minister Boris Johnson on the sidelines of the Group of 20 summit of leaders in Rome Sector News Breakdown Consumer Barron’s took a deep dive into the roads automakers and their suppliers are taking to build a better battery. Raw materials have gotten an upgrade to shorten the supply chain and boost performance. Tesla ($TSLA) has switched to nickel as a substitute for scarcer cobalt, while General Motors ($GM) has sought out alternatives to graphite since its mostly mined in China, Barron’s said. Companies that benefit from revamped supply chains will be the best investment, Albemarle ($ALB), for instance, supplies about one-third of the world’s lithium. Battery capacity will need to jump fourfold by the next few years, according to Barron’s NVR Corp. ($NVR) mentioned positively in Barron’s noting the stock has been flat in recent months and KeyBanc’s analyst said he saw diminished earnings momentum but still kept a $5,450 price target on the stock, an 11% premium over Friday’s close, and for the first time this year, a company insider recently made an open-market buy Bally’s Corporation ($BALY) submitted a proposal to Chicago to develop and operate the $1.6 billion Bally’s Chicago, an entertainment destination resort. Li Auto ($LI) has delivered 7,649 Li ONEs, up 107.2% year over year; as of October 31, 2021, the year-to-date and cumulative deliveries of Li ONEs reached 62,919 and 96,516 respectively. Nio ($NIO) said it delivered 3,667 vehicles in October 2021, representing a decrease of 27.5% year-over-year. XPeng ($XPEV) said monthly deliveries in October 2021 of 10,138 Smart EVs, representing an increase of 233% Y/Y and a 2.6% decline over last month Wynn Resorts ($WYNN), Melco Gaming (MLCO): Macau’s gaming bureau reported October gross revenue from games of fortune in the region decreased 40% year-over-year to 4.365B patacas. Stanley Black & Decker ($SWK) downgraded to Underperform from Neutral at Bank America Energy, Industrials and Materials The U.S. and the European Union have announced a deal at the G20 summit in Rome to ease U.S. tariffs on steel and aluminum totaling more than $10B of E.U. exports each year, removing one of the most significant trade disputes from the Trump administration’s levies imposed in 2018 Deere ($DE) said it reached a tentative agreement with the United Auto Workers (UAW) two weeks after more than 10K workers at 14 plants went on strike. The deal, reached after 90% of union members rejected the first tentative agreement, “contains enhanced economic gains and continues to provide the highest quality healthcare benefits in the industry,” the UAW said. China’s Ganfeng Lithium Co Ltd and its unit GFL International Co Ltd have signed a contract to supply battery-grade lithium products to U.S. electric vehicle (EV) maker Tesla Inc ($TSLA) Financials Barclays PLC ($BCS) CEO Jess Staley was asked to step down Monday following an investigation by U.K. regulators into his relationship with convicted sex offender and financier Jeffrey Epstein. Britain’s Financial Conduct Authority said Staley, 64, told regulators and the bank that his relationship with Epstein ended in 2015. CNA Financial ($CNA) Q3 core EPS 87c vs. est. 60c; posted record underlying combined ratio of 91.1%, double-digit gross written premium growth across all of our P&C business segments and excellent new business growth of 24% Healthcare Moderna ($MRNA) announced that the FDA informed it on Friday that the agency required additional time to review the company’s Emergency Use Authorization (EUA) request for COVID-19 vaccine for use in those aged 12 – 17 years. Regulators told Moderna that the analysis may not be completed until January Novavax ($NVAX) files for covid-19 vaccine authorization with health Canada and completes submission for rolling review to European medicines agency Tilray ($TLRY) downgraded to Neutral from Overweight at Cantor Fitzgerald and cut tgt to $11.80 from $18.00 LianBio ($LIAN)3M share IPO priced at $16.00 Technology, Media & Telecom Madison Square Garden Sports ($MSGS) MSG Entertainment $(MSGE) and AMC Networks ($AMCX) are at inexpensive prices according to Barron’s. Online sports gambling, due to start in New York in the next few months, looks like a big plus for both MSG Sports and MSG Entertainment because of advertising, fan engagement, and a potential sports book in Madison Square Garden Pearson Plc ($PSO) may see increased pressure from Europe’s largest activist pressure as the company works to convince holders about a turnaround under CEO Andy Bird, according to a Telegraph report. Activist Cevian Capital now owns 8.5% of Pearson and is the company’s second largest investor, the Telegraph reported. https://bit.ly/3muoDGw Cinemark Holdings Inc. ($CNK) and IMAX Corp. (IMAX) time to shine said Barron’s noting IMAX had its best October on record thanks to “Dune” and other films. Meanwhile, “Cinemark’s 3Q results should show further signs of improvement as the business steadily builds momentum,” writes MKM analyst Eric Handler. AMC Entertainment ($AMC) claimed that the domestic industry box office for October 2021 is estimated to come in considerably higher than that of any previous month since February of 2020. TripAdvisor ($TRIP) downgraded to Underweight from Overweight at Barclays and cut tgt to $30 from $49
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Monday, August 23, 2021 Futures Up/Down % Last Dow 157.00 0.45% 35,215 S&P 500 15.25 0.34% 4,452 Nasdaq 40.50 0.27% 15,127 Stock futures are looking higher, trying to rebound after last week’s modest losses, boosted by hopes that the U.S. FDA is aiming to give full approval to Pfizer’s ($PFE) COVID-19 vaccine today (as per a NYTimes article Friday) and as investors looked to the Jackson Hole symposium later in the week for hints on future Federal Reserve policy. Oil prices rebound, rising around 3%, looking to snap its 7-day losing streak as prices fell over 9% last week. In Asian markets, The Nikkei Index jumped 480 points (1.78%) to 27,494, the Shanghai Index gains 49 points (or 1.45%) to 3,477 and the Hang Seng Index rises 259 points to 25,109. In Europe, the German DAX is higher by 40-points to 15,850, while the FTSE 100 gains 30 points to 7,120. Stocks slumped last week as the S&P 500 drops 0.59%, Dow down 1.12%, Nasdaq loses 0.73%, but YTD performance remains impressive with the S&P +18.25%, the Dow +14.74%, the Nasdaq +14.17% and the Russell 2000 +13.14% (gold -5.91%, Bitcoin +57.52% and oil +30.87%). The S&P and Dow were weighed down by steep losses among shares of economically-sensitive companies like banks, materials companies and energy producers this week as the Fed signaled that it will scale back some of its easy money policies. Other factors playing a role in volatility last week included an uptick in Covid-19 infections and a slowdown in China’s growth that could impede the economic recovery. Bitcoin prices topped $50K over the weekend, the first time since mid-May (15th) in a continuation of last week’s advance Market Closing Prices Yesterday The S&P 500 Index gained 35.87 points, or 0.81%, to 4,441.67 The Dow Jones Industrial Average rose 225.98 points, or 0.65%, to 35,120.08 The Nasdaq Composite surged 172.86 points, or 1.19%, to 14,714.66 The Russell 2000 Index advanced 35.18 points, or 1.65% to 2,167.60 Events Calendar for Today 9:45 AM ET Markit Manufacturing PMI-F…est. 62.5 9:45 AM ET Market Composite Flash-PMI…est.58.3 9:45 AM ET Markit Services PMI-Flash…est.59.5 10:00 AM ET Existing Home Sales MoM for Aug…est. 5.83M Earnings Calendar: Earnings Before the Open: $JD, $MSGE Earnings After the Close: $FLXS, $MARK, $PANW Other Key Events: American Association of Neurological Surgeons, 8/21-8/25, in Orlando, FL UBS China Telco, Media, Internet Virtual Conference 2021, 8/23-8/27 Truist Texas Bank Virtual Summit, 8/23-8/24 Macro Up/Down Last Nymex 1.90 64.04 Brent 2.06 67.24 Gold 7.40 1,788.50 EUR/USD 0.0019 1.1717 JPY/USD 0.29 110.07 10-Year Note +0.018 1.278% World News France Aug Mfg PMI: 57.3 in line; Services 65.4 vs 57.0 consensus Germany Aug Mfg PMI: 62.7 vs 65.0 consensus; Services 61.5 vs 61.0 consensus Eurozone Aug Mfg PMI: 61.5 vs 62.0 consensus; Services 59.7 vs 59.8 consensus UK Aug Mfg PMI: 60.1 vs 59.5 consensus; Services 55.5 vs 59.0 consensus Sector News Breakdown Consumer General Motors Co ($GM) to take a $1B charge to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack; this comes on top of $800M in costs from previous Bolt recalls – Reuters Uber ($UBER), Lyft ($LYFT) and DoorDash ($DASH) fall after a California state judge strikes down a ballot measure that declared drivers for the companies were independent contractors Energy, Industrials and Materials The U.S. Defense Department ordered U.S. airlines to provide 18 planes to transport evacuees, saying the extra capacity will help military aircraft focus on operations in and out of Kabul Stem ($STEM) a positive mention in Barron’s saying the company that installs batteries for utilities and sells software to manage them, is an attractive renewable energy bet. Business inquiries have picked up since the company received a $475 million cash injection through a SPAC merger in April, the CEO said. Revenue is expected to more than double in 2022 Maxar Technologies ($MAXR) won a 5-year, $60M contract from the U.S. National Geospatial-Intelligence Agency (NGA) to continue development and operations of a classified big data analytics program SPI Energy ($SPI) said its wholly owned Phoenix Motorcars subsidiary expands R&D and production capabilities; Phoenix Motorcars signed a long-term lease agreement for the facility located in Anaheim, California Ardmore Shipping ($ASC) files to sell $50M of common stock Financials Jefferies ($JEF) mentioned positively in Barron’s calling it a “rising star” on Wall Street and it will benefit from European banks’ pullback from the U.S. capital markets. CEO Rich Handler told Barron’s the investment bank is “long-term oriented” in its approach and is in no hurry to sell its merchant-banking business. PayPal ($PYPL) will allow customers in the UK to buy, sell and hold bitcoin and other cryptocurrencies starting this week – Reuters Healthcare The FDA is targeting full approval of Pfizer ($PFE)-BioNTech’s ($BNTX) two-dose Covid-19 vaccine on Monday, August 23, further expediting an earlier timeline for licensing the shot, The New York Times reported Axsome Therapeutics Inc ($AXSM) rises over 30%; said the FDA was unable to complete its review of the company’s drug to treat major depressive disorder by the target action date of Aug. 22; said the FDA did not request additional information, adding that the review of the application was ongoing. Orphazyme ($ORPH) rises more than 20% after the Danish biotech company posted results from the trial of its key drug candidate for a genetic disorder Niemann-Pick disease type C, two months after it was rejected in the U.S. Technology, Media & Telecom com ($JD) Q2 Non-GAAP EPS of $0.45 beats by $0.11; GAAP EPS of $0.08 misses by $0.13; Q2 revs $39.3B beats by $1.12B; annual active customer accounts increased by 27.4% Y/Y to 531.9 million in the twelve months ended June 30, 2021. Intel ($INTC) wins us government project to develop leading-edge foundry ecosystem; Intel Foundry Services will lead the first phase of the U.S. department of defense’s ramp-c program to establish a domestic commercial foundry infrastructure. Nokia ($NOK) announced that it has been selected by A1 Telekom Austria Group (A1) to extend its 5G footprint outside of Austria into Bulgaria, Serbia, and Slovenia. Barron’s said investors should have more confidence in Spotify ($SPOT), noting while its audience growth is losing steam, Spotify is poised to post a profit in 2022, making it a promising bet as a market- leading subscription service in a growing sector Nexstar Media Inc., a wholly-owned subsidiary of Nexstar Media Group, Inc. ($NXST), announced on Friday it acquired The Hill for $130 million (plus working capital adjustments), in a transaction that is expected to be immediately accretive to Nexstar’s operating results. The Hill is the nation’s leading, independent, political digital media platform.
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Madison Square Garden Entertainment Corp. (MSG Entertainment) is a leader in live entertainment experiences. The Company presents or hosts a broad array of events in its diverse collection of venues: New York's Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre; and The Chicago Theatre. MSG Entertainment is also building a new state-of-the-art venue in Las Vegas, MSG Sphere at The Venetian, and has announced plans to build a second MSG Sphere in London, pending necessary approvals. In addition, the Company features the original production - the Christmas Spectacular Starring the Radio City Rockettes - and through Boston Calling Events, produces the Boston Calling Music Festival. Also under the MSG Entertainment umbrella is Tao Group Hospitality, with entertainment dining and nightlife brands including Tao, Marquee, Lavo, Avenue, Beauty & Essex and Cathédrale.