DIRS.INFO The most relevant business & tech news

☆ Morning Bid: Irksome inflation won't die down
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +4 min

Friday's latest U.S. inflation surprise was matched in Europe on Tuesday, with French and Spanish headline inflation rates unexpectedly rising again in February - making for an uncomfortable final day of a transformative month for markets. And worryingly, market-based measures of inflation expectations are rising sharply again too. U.S. two-year 'breakeven' inflation rates , taken from inflation-protected Treasury securities, have jumped 80 basis points this month to 2.8% - wiping away the prior assumption that inflation would return to the Fed's 2% target over two years. In Europe, the five year, five-year forward inflation linked swap has jumped 20bps to a 9-month high just under 2.5%. Stock markets steadied after early losses, with U.S. futures only slightly in the red ahead of the open and month end.

☆ Movie theatre operator AMC's stock surged 23% after a potential legal delay to a plan that could dilute its shares
▼ + stars: | 2023-02-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

AMC stock surged 23% on Monday after a judge scheduled a hearing for shareholders suing the company. The stock became popular in 2021 as a meme stock on Reddit. Investors of the movie theatre chain are scheduled to vote on a conversion of the preferred shares to common shares on March 14 — which will increase the pool of common stock and thus dilute the voting power of common shareholders. This boosted market sentiment and sent AMC common shares soaring. Insider's Phil Rosen reported on Thursday that the rally is like the meme stock boom of 2021.

☆ AMC beats revenue estimates as 'Avatar' lures movie fans
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Feb 28 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) beat Wall Street estimates for fourth-quarter revenue on Tuesday, as box-office hits such as "Avatar: The Way of Water" made movie-goers flock to its theaters during the holiday session. Shares of Leawood, Kansas-based AMC, which operates more than 900 theaters globally, rose 2% in trading after the bell. Revenue for the quarter was $990.9 million, compared to analysts' expectation of $977.7 million, according to Refinitiv IBES data. Net loss widened to $287.7 million, or 26 cents per share, during the quarter ended Dec. 31, from $134.4 million, or 13 cents per share, a year ago. Reporting by Tiyashi Datta in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Stock futures inch higher as Wall Street braces for final trading day of February: Live updates
▼ + stars: | 2023-02-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stocks futures rose slightly in overnight trading as investors braced for the final trading day of February. Futures tied to the Dow Jones Industrial Average gained 30 points, or 0.10%, while S&P 500 and Nasdaq 100 futures added 0.12% each. Zoom Video surged nearly 8% in overnight trading on strong earnings, while Occidental Petroleum 's stock fell 1% after posting a top-and-bottom line miss. The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively. Both the S&P 500 and Nasdaq are positive in 2023, but down 2.3% and 1%, respectively, in February.

☆ Cineworld gets no offer for whole company, warns on shareholders' equity
▼ + stars: | 2023-02-24 | by ( Yadarisa Shabong | ) www.reuters.com time to read: +3 min

It said it had received initial proposals from a number of counterparties but none offered an all-cash bid for the entire company. Cineworld said talks with certain stakeholders about a possible plan of reorganisation were ongoing in parallel with a potential sale of assets, but neither path would see shareholders recover their equity interest. Cineworld had a net debt of $8.81 billion as of June 30, 2022, including lease liabilities, while its cash reserves had dwindled to $131 million. Larger rival AMC Entertainment Holdings (AMC.N) in December had said its talks to buy some theatres owned by Cineworld had fallen through. Sky News reported earlier this month that London-based cinema operator Vue International, with support from two funds, would be among the bidders for Cineworld.

☆ Inflation takes a back seat to earnings next week as stocks look to bounce back
▼ + stars: | 2023-02-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +7 min

The latest Fed projection for the so-called terminal rate — the level where the rate hikes stop — was just over 5%. Before this past week, those intraday levels hadn't been seen since November 2022. ET: ISM Services Looking back January's hot reading on core PCE on Friday was the most influential economic number of the past week. In Club earnings this past week, Nvidia (NVDA) was certainly the highlight. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ Robinhood’s stock awards tell a cautionary fable
▼ + stars: | 2023-02-22 | by ( John Foley | ) www.reuters.com time to read: +7 min

The now-abandoned payouts to Tenev and Bhatt were a slab of “market-based restricted stock units” distributed ahead of Robinhood’s initial public offering in July 2021. The system works in reverse, too, however: When executives give back stock awards, the company gains nothing in cash terms. U.S. accounting rules treat stock awards geared to a company’s stock price as a gift that cannot be returned. In short, by handing back their awards, Robinhood’s founders have neither robbed from themselves, nor given to anyone else. Even without this unhappy effect on earnings, shareholders should be wary of the kinds of awards Robinhood doled out at its public company debut.

☆ Hedge funds' short-covering of tech bets is 2nd biggest in a decade - banks
▼ + stars: | 2023-02-17 | by ( Carolina Mandl | ) www.reuters.com time to read: +1 min

"The short covering in U.S. tech stocks from Jan 31st to Feb 15th is the second largest in magnitude over any 12-day period in the past decade," Goldman Sachs wrote in a note reviewed by Reuters. JPMorgan also said in a daily note to clients that communication services and information technology stocks had led the short covering in its books on Thursday. Overall, JPMorgan said multi-strategy and equity quantitative hedge funds had led the short covering, while equity long-short funds had been ahead in bets against stocks. Amid stock rises in February, hedge funds were forced to unwind their bets against the shares. read moreReporting by Carolina Mandl in New York; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

Feb 15 (Reuters) - The founder of WallStreetBets, which has been credited with helping ignite investors' frenzy into "meme" stocks, sued Reddit Inc on Wednesday, accusing it of wrongly banning him from moderating the community and undermining his trademark rights. According to the complaint filed in federal court in Oakland, California, Rogozinski applied to trademark "WallStreetBets" in March 2020, one month before his ouster, when the community reached 1 million subscribers. "Jamie was removed as a moderator of r/WallStreetBets by Reddit and banned by the community moderators for attempting to enrich himself. Meme stocks typically gain popularity through discussions, often among inexperienced investors, in online forums such as WallStreetBets and Twitter. The case is Rogozinski v Reddit Inc, U.S. District Court, Northern District of California, No.

☆ The behind-the-scenes role that's minting future stars at BlackRock
▼ + stars: | 2023-02-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Some of the most powerful people on Wall Street are men and women you've never heard of. Click here to learn more about BlackRock's new chief of staff and why the role is rising in importance across Wall Street. Everybody wants macro traders. A fintech helping companies engage with their retail investors got backing from Alexis Ohanian's Seven Seven Six. These are the top 10 holdings in the church's investment portfolio, including one Wall Street titan.

☆ Retail investor risk appetite improves with AI stocks leading
▼ + stars: | 2023-02-14 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Retail investors had a poor year in 2022, with the average portfolio ending the year down around 35% from all-time highs, Vanda Research previously estimated. However, retail investors have shown renewed interest in the early part of 2023. Meanwhile, shares of early meme stocks GameStop (GME.N) and AMC Entertainment (AMC.N) have pared some losses after last year's tumble. "Investor enthusiasm is also attracting short-sellers that are skeptical about some of the resulting valuations," said Evan Niu, an analyst at Ortex, which tracks real-time short interest data. AI software firm Veritone (VERI.O), SoundHound and BigBear.ai also show a pick up in short interest, Ortex data showed.

☆ Ray Dalio's hedge fund nearly tripled its GameStop and AMC bets last quarter, while Bill Miller dumped Bed Bath & Beyond stock
▼ + stars: | 2023-02-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

The hedge fund nearly tripled its stake in the video-game retailer and the movie-theater chain. Meanwhile, Bill Miller's fund sold all of its remaining shares in Bed, Bath & Beyond. Dalio's Bridgewater Associates fund boosted its bets on GameStop and AMC Entertainment, while Miller Value Partners exited its Bed Bath & Beyond wager. Similarly, AMC shares surged from about $2 to over $59 during the first six months of 2021. For its part, Bed Bath & Beyond shares soared from under $4 in April 2020, to over $35 by January 2021.

Organizations: & $

Analysts said the new cash may afford Bed Bath only a few quarters to revive its business, and a weakening economy would diminish any chance of a successful turnaround. Bed Bath declined to comment on Hudson Bay Capital's role in the share sale. "All is on hold," a maker of children's apparel said last week, adding that it had stopped shipping products to Bed Bath since early January. A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. Reuters reported late last month that Bed Bath had lined up liquidators to close additional stores unless a last-minute buyer emerged.

☆ Movie theaters get creative with food and drink as they struggle to fill seats
▼ + stars: | 2023-02-08 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +9 min

At many movie theaters, popcorn and soda appear alongside flatbreads, lobster grilled cheese and elaborate cocktails. "It is things like concessions and how that fits into a broader movie theater experience that really are things that movie theaters need to focus on and hammer in," Gallinari said. AMC Entertainment , the world's largest movie theater chain, exited its third quarter with more than $5.3 billion in debt. According to data from research firm EntTelligence, the average medium popcorn at domestic movie theaters is $8.14, while a medium drink runs for $6.20. "With movie theaters and concessions already having a reputation for being overpriced, being subject to the wills of the market in that way can really work against the movie theater's favor," Gallinari said.

☆ ChatGPT has investors scrambling to get on the AI bandwagon so much that obscure stocks are soaring just like big-name chip companies
▼ + stars: | 2023-02-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That's that for the latest Fed talk — but today, we're taking a closer look at the AI hype train passing through the stock market. And small-cap tech stocks with names that nod to bots like BigBear.ai and SoundHound AI have similarly notched gains so far this year. Tech stocks have come back with a "vengeance," Fundstrat's Mark Newton said. It's a necessary step for policymakers to take, the group said, even if it means declines in stock market returns. Wall Street's biggest firms are warning their clients not to trust the stock market rally.

☆ AI stocks are soaring in a meme-like frenzy. Here's why investors won't have to rely on Reddit enthusiasm to sustain the rally.
▼ + stars: | 2023-02-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Following a brutal year for tech, the rise of ChatGPT has sparked a boom in AI stocks and chip-makers. Shares of both well-known and obscure companies have skyrocketed on even small updates related to AI. "AI stocks and AI solutions will continue to benefit from machine learning while the majority of meme stocks will not," Natividad noted. Shark Tank investor Kevin O'Leary echoed the sentiment, telling Insider that AI as an investment sector has vast potential. With 20% of tech stocks still more than 75% off their highs, Fundstrat noted that a recovery is still in the early stages.

Hudson Bay Capital is unrelated to Canadian department store chain Hudson's Bay Co. Bed Bath & Beyond declined to comment earlier Tuesday on Hudson Bay Capital leading investment in the share sale. A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew KellyPrices on Bed Bath & Beyond bonds due in 2024 climbed to 24 cents on the dollar from around 5 cents, a level still indicating financial distress. Bed Bath shares rose 2.7% in extended trading, after closing down 49% on Tuesday.

Organizations: & ' $

☆ AMC to Charge More for Better Movie Theater Seats
▼ + stars: | 2023-02-06 | by ( Dia Gill | ) www.wsj.com time to read: 1 min

New AMC pricing that adjusts ticket prices based on where viewers sit applies to shows after 4 p.m., except on the chain’s Tuesday discount days. Some moviegoers will soon have to pay higher prices for better seats. The theater chain AMC Entertainment Holdings Inc. said Monday it was rolling out a new plan that adjusts ticket prices during peak shows based on where viewers sit. Prime seats in the middle of the theater will come at a premium, while neck-craning front-row seats will cost less.

☆ Hedge funds caught in bigger squeeze than 2021 meme stock frenzy - Goldman Sachs note
▼ + stars: | 2023-02-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

LONDON, Feb 6 (Reuters) - Hedge funds betting against stocks globally abandoned those trades last week at the fastest pace since 2015, surpassing the speed of their exodus from the meme stock frenzy two years ago, according to a Goldman Sachs research note. The largest short positions held by hedge funds were in industrials and information technology companies, the Goldman note said. It added that hedge funds also exited many long positions in Asian developing markets and Chinese equities. Meanwhile, after stuttering recoveries during a volatile two years, AMC and GME are now trading above their price levels of Jan. 15, 2021 just before the meme stock frenzy began. Resurgent risk appetite among some investors has also fuelled rallies in the shares of so-called meme stocks since the start of this year, though many analysts are sceptical the recent moves will last.

☆ AMC to price movie tickets based on seating
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - AMC Entertainment Holdings (AMC.N) will start selling tickets at different prices based on the location of the seat in a auditorium, the theater chain operator said on Monday. It would have three tiers of seating - value, standard and preferred. Value seats are available for free only to members of AMC Stubs, the chain's rewards club. Standard seats will be available at the usual cost of a ticket, while preferred sightline seats, which include select seats in the middle of the auditorium, will be priced higher. In December, AMC said it would raise $110 million in new equity capital through the sale of its preferred stock and proposed a reverse stock split.

☆ Analysis: AMC sets unusual shareholder vote for meme stock sale approval
▼ + stars: | 2023-02-01 | by ( Anirban Sen | ) www.reuters.com time to read: +5 min

loadingNow, AMC is asking shareholders for authorization to further increase its common stock count tenfold. Holders of the preferred stock will be allowed to vote on the matter alongside holders of common stock. "This increases the odds of (the new common stock authorization) passing this time," said Jacob Thomas, a professor of accounting and finance at Yale School of Management. "Given that meme stock speculators can drive prices far from fundamentals, it makes sense for a company like AMC to issue stock when management believes its own stock is overvalued," Harvey said. AMC said in the Jan. 26 filing that it is proposing the conversion of preferred stock to common stock to eliminate the trading discount.

Thousands of no-transaction-fee mutual funds and fee-free mutual funds Check mark icon A check mark. Pros Check mark icon A check mark. Thousands of no-load mutual funds and 50+ Schwab-managed funds; fractional shares (Stock slices) available Check mark icon A check mark. Free stock, option, ETF, and cryptocurrency trades; 1.5% APY on uninvested cash for non-Gold users and 3% for Gold members Check mark icon A check mark. Competitive mobile and online offerings for digital investors and traders Check mark icon A check mark.

☆ AMC Leaves Saudi Arabia After Falling Behind Local Competitors
▼ + stars: | 2023-01-31 | by ( Rory Jones | ) www.wsj.com time to read: 1 min

AMC’s exit from Saudi Arabia illustrates how the kingdom remains a difficult place for international companies to operate. AMC Entertainment Holdings Inc. will exit its equity partnership in Saudi Arabia, the cinema giant said Tuesday, leaving a market that was once considered the world’s final frontier for cinema but proved hard to dominate. A subsidiary of the Saudi sovereign-wealth fund will acquire AMC’s equity stake in their joint venture, giving it 100% ownership, according to a joint statement from the subsidiary, Saudi Entertainment Ventures, and the American movie-theater chain. The Saudi firm will take over AMC’s operation in the kingdom and franchise it.

☆ Stocks making the biggest moves midday: Carvana, Colgate-Palmolive, Tesla and more
▼ + stars: | 2023-01-30 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Tesla — Shares dropped 2.8% after Berenberg lowered its earnings estimate for Tesla by around 25% for 2023 following the company's price cuts for its electric vehicles. Ford Motor Company — Shares fell nearly 1.4% after the company announced price cuts for its electric Mustang Mach-E crossover. The move in Ford comes after Tesla said earlier this month it would trim prices to counteract dwindling demand. AMC Entertainment — Common shares of the theater chain fell by more than 7% after AMC announced a shareholder meeting in March for a potential change to its capital structure. The preferred or "APE" shares, which trade at a large discount to the common shares, jumped by more than 16%.

Search resuls for: "AMC Entertainment"

25 mentions found