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(Bloomberg) — Mars Inc. sold $26 billion of US high-grade bonds on Wednesday to help fund its acquisition of rival foodmaker Kellanova, in the biggest US corporate bond sale of the year. Most Read from Bloomberg The candy maker saw strong demand for the bonds with investors placing orders for around $114.4 billion worth of notes, the biggest final order book on record for the US corporate market, according to people with knowledge of the transactions. The final orders for bonds represented about 4.4 times the notes actually for sale, while the average ratio for the year is closer to…
US-based insurance brokerage CCIG has acquired domestic peer Carver & Associates Insurance Services for an undisclosed amount. Headquartered in Colorado, Carver & Associates offers personal and commercial insurance solutions. The business focuses on Colorado’s Front Range and Phoenix, Arizona, markets. CCIG believes this purchase will strengthen its foothold in key south-western US markets including Austin, Texas, and Phoenix. The acquisition is part of CCIG’s organic expansion strategy aimed at enhancing its services for middle-market clients. The company said that clients of Carver & Associates will gain expanded carrier access through the deal. CCIG teams up with national, regional and specialty…
(Bloomberg) — Germany’s historic plan to ramp up spending shook European markets on Wednesday, powering equities past their US peers, reviving the euro from the brink of parity with the dollar and consigning German bunds to their worst day since 1990. Most Read from Bloomberg Investors hailed a landmark moment in Europe’s largest economy and traditional advocate of tight budgets after Chancellor-in-waiting Friedrich Merz declared Germany would do “whatever it takes” to defend itself and pledged to ease constraints on government spending. Germany’s benchmark stock index surged 3.4% in its biggest one-day rally since 2022 and lifted the pan-European Stoxx…
(Bloomberg) — Britain’s Southern Water Ltd. is trying to fix its finances in an effort to preserve its investment grade status, safeguard its balance sheet — and avoid the same debt woes as Thames Water. Most Read from Bloomberg The utility has entered into talks with its creditors to figure out how to reshape its capital structure, according to people familiar with the matter. The parties are discussing how to accommodate a £900 million ($1.2 billion) equity injection — led by majority shareholder Macquarie Asset Management — and what other tweaks may be necessary to stabilize the company’s finances, the…
(Bloomberg) — The euro’s best three-day rally since 2015 is encouraging traders to bet the currency will rise 10% further in coming months. Most Read from Bloomberg Hedge funds are buying options betting that the currency could reach as high as $1.20 in six to nine months, according to FX traders familiar with the transactions who asked not to be identified because they aren’t authorized to speak publicly. That level was last seen in 2021. Options sentiment, as depicted by so-called risk reversals, turned most bullish on the euro in five years, while data from the Depository Trust & Clearing…
(Bloomberg) — Bullish sentiment on European natural gas is receding sharply, amplifying price swings as some investors pull out of the market amid mounting geopolitical uncertainties. Most Read from Bloomberg Investment funds cut their net-long position in benchmark Dutch futures for a third week, bringing it to the lowest level since late July, according to data published by Intercontinental Exchange Inc. on Wednesday. Outright longs fell by the most in more than three years. Bullish wagers have been trimmed after nearing a record earlier this year. Tensions between US President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskiy have disoriented…
Bloomberg / Getty Images CrowdStrike shares slumped Wednesday after the company’s full-year outlook disappointed. However, several analysts said they still see upside for the stock and suggested its recent drop could offer investors an opportunity to buy the dip. Despite the underwhelming forecast, CrowdStrike’s quarterly revenue and earnings both topped expectations. CrowdStrike (CRWD) shares slumped Wednesday, a day after the company’s full-year outlook came in well below expectations, but several analysts said they still see upside for the stock. The company “remains the gold standard for cybersecurity,” analysts at Wedbush said after the results, raising their price target for the…
Stephanie Keith / Bloomberg via Getty Images Abercrombie & Fitch shares sank Wednesday after the apparel retailer’s current-quarter profit and full-year sales forecasts disappointed investors. The company sees first-quarter earnings per share between $1.25 and $1.45, well below Visible Alpha consensus of $2.01. Abercrombie & Fitch is forecasting fiscal 2025 sales to rise between 3% and 5%, below estimates of 5.65% growth. Abercrombie & Fitch (ANF) shares sank 12% Wednesday after the apparel retailer’s current-quarter profit and full-year sales forecasts disappointed investors. The company, which owns Hollister in addition to its namesake brand, sees first-quarter earnings per share (EPS) between…
Dallas, Texas–(Newsfile Corp. – March 5, 2025) – OppFi, Inc. (NYSE: OPFI): Stonegate Capital Partners Updates Coverage on OppFi (NYSE: OPFI). OPFI reported revenue, adj. Net Income, and adj. EPS of $135.7M, $20.3M, and $0.23, respectively. This compares to our/consensus estimates of $133.3M/$133.5M, $12.7M/$12.6M, and $0.14/$0.15.Net revenue margin was 59.5% for the quarter, which was a year over year margin expansion of 1,000 bps from 4Q23. This quarter’s strong performance was driven by record total revenue of $135.7M, a 2.1% y/y increase, coupled with significant improvements in net income, which grew by 619.7% y/y to ~$14.0M, setting new records for…
We recently compiled a list of the 11 Best Undervalued Stocks to Invest in Now. In this article, we are going to take a look at where Wells Fargo & Company (NYSE:WFC) stands against the other undervalued stocks. On March 5th, BBC reported that the US stock market had fallen after the tariffs sparked trade war fear. The recent imposition of tariffs by President Donald Trump on imports from Canada, Mexico, and China has sparked significant concerns about a potential trade war. The United States has imposed a 25% tariff on most imports from these countries, with Canadian energy products…