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☆ Rainwater Tech to list in New York via SPAC merger
▼ + stars: | 2022-12-22 | by ( David French | ) www.reuters.com time to read: +2 min

Led by Mike Nefkens, the former president of Hewlett Packard Enterprise Services, Rain Enhancement Technologies - to be known as Rainwater Tech - plans to commercialize a method known as ground-based ionization that makes clouds drop more rain. The merger values Rainwater Tech at $200 million, with dMY VI using the $241 million it raised through its initial public offering in October 2021 to capitalize the company. "This is not a technology which creates rain out of blue sky, but it is about maximizing the amount of rain when the conditions are right," Nefkens said. "We are seeing a rotation in investor sentiment from things which are nice to have towards things which we can't live without," said Niccolo de Masi, CEO of dMY VI. Reporting by David French in New York Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Companies Strengthen Collections, Aim to Get Cash in the Door as Threat of Downturn Looms
▼ + stars: | 2022-12-21 | by ( Kristin Broughton | ) www.wsj.com time to read: +6 min

Companies are stepping up efforts to collect on their bills and get cash in the door, aiming to limit future write-offs ahead of a potential downturn. The company’s days of sales outstanding during the latest quarter declined to 67.3 days from 70.4 days during the prior period, according to S&P. Early in the pandemic, some companies extended payment terms to customers that needed funds to shore up liquidity to help navigate temporary lockdown measures. Everbridge said it aims to provide customers with payment terms that are mutually beneficial. ServiceNow’s days of sales outstanding during the third quarter fell to 44 days from 47.4 days a year earlier, according to S&P.

☆ Palantir lands 75 million pound deal with British military
▼ + stars: | 2022-12-21 | by ( Jeffrey Dastin | ) www.reuters.com time to read: +2 min

Dec 21 (Reuters) - Palantir Technologies Inc (PLTR.N) has signed a three-year, 75 million pound ($91.39 million) deal with the United Kingdom's Ministry of Defense, the U.S. software company said Wednesday, expanding its overseas military work months into the Ukraine war, Europe's biggest conflict since World War II. Palantir will aid military operations and intelligence, further widening access to its software across the defense ministry after a narrower pilot with the Royal Navy that started years ago. Abundant satellite imagery lets military analysts in little time detect changes on the battlefield, with artificial intelligence software identifying tanks, artillery or other targets. Despite the war, Palantir shares have tumbled like other tech stocks this year, falling by about half since March. ($1 = 0.8207 pounds)Reporting by Jeffrey Dastin; Additional reporting by Paresh Dave; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. business equipment borrowings rise 9% in November - report
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

Dec 20 (Reuters) - U.S. companies borrowed 9% more to finance their equipment investments in November from a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday. "Labor markets are stable, inflation woes appear to be abating, consumers are spending, and businesses continue to expand and grow: a recipe for stable growth by providers of equipment financing," Petta added. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77.7%, slightly above the October level. The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States. ELFA's non-profit affiliate, Equipment Leasing & Finance Foundation, said the confidence index in December stood at 45.9, compared with 43.7 in November.

"It's a knife edge between whether we're going to teeter into a recession or have a soft landing. said Brown who also noted that moves may be exaggerated as many investors take vacation around the end-of-year holidays. Declining issues outnumbered advancing ones on the NYSE by a 2.80-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored decliners. The S&P 500 posted 5 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 66 new highs and 456 new lows. On U.S. exchanges 11.07 billion shares changed hands, compared with the 11.59 billion average for the last 20 trading days.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. "When people adjust their expectations after the Fed meeting, higher rates typically imply more compressed multiples for growth stocks." Further, hawkish messages delivered by three Fed officials including New York Fed President John Williams last week underscored the U.S. central bank's determination to do what it takes to ease price pressures. Still, money market participants are pricing in 61% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. The S&P index recorded five new 52-week highs and 15 new lows, while the Nasdaq recorded 42 new highs and 335 new lows.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. However, money market participants still place a 73.5% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. ET, Dow e-minis were up 14 points, or 0.04%, S&P 500 e-minis were up 4.5 points, or 0.12%, and Nasdaq 100 e-minis were up 23 points, or 0.2%. Moderna Inc (MRNA.O) advanced 2.7% after Jefferies upgraded the biotechnology firm's stock to "buy" from "hold", citing cancer therapy opportunities. Reporting by Shubham Batra and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Defense Contractor L3Harris Plans to Buy Aerojet Rocketdyne for $4.7 Billion
▼ + stars: | 2022-12-19 | by ( Doug Cameron | ) www.wsj.com time to read: 1 min

A deal is expected to face intense regulatory scrutiny at a time when Aerojet has also wrestled with production problems. Defense firm L3Harris Technologies Inc. on Sunday said it agreed to buy Aerojet Rocketdyne Holdings Inc. in a $4.7 billion deal that would cement L3Harris’s role as one of six prime defense contractors for the Pentagon. Aerojet is a major maker of engines used in missiles, such as the Javelin deployed in Ukraine. Its products also help power National Aeronautics and Space Administration rockets and U.S. military hypersonic systems designed to deter China’s military expansion.

☆ Defense firm L3Harris to buy Aerojet for $4.7 billion with eye on missile demand
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: 1 min

Dec 18 (Reuters) - U.S. defense contractor L3Harris Technologies Inc (LHX.N) said on Sunday it would buy Aerojet Rocketdyne Holdings Inc (AJRD.N) for $4.7 billion in an all-cash transaction, as it looks to tap into rising demand for missiles amid the Ukraine conflict. Reporting by Nathan Gomes and Kanjyik Ghosh in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Defense firm L3Harris to buy Aerojet for $4.7 bln with eye on missile demand
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

Dec 18 (Reuters) - U.S. defense contractor L3Harris Technologies Inc (LHX.N) said on Sunday it would buy Aerojet Rocketdyne Holdings Inc (AJRD.N) in a $4.7 billion all-cash transaction, as it looks to tap into rising demand for missiles amid the Ukraine conflict. Reuetrs had first reported on Saturday that L3Harris was nearing the deal to acquire U.S. rocket maker Aerojet. The deal, which is expected to be completed in 2023, would add on to L3Harris' Space & Airborne Systems unit, which makes electronic warfare equipment and avionics sensors. Aerojet develops and manufactures liquid and solid rocket propulsion and hypersonic engines for space, defense, civil and commercial applications. Aerojet makes the RS-25 engines for NASA's launch vehicle, as well as the RL10 engines that power launch vehicles made by United Launch Alliance, a joint venture between Boeing Co (BA.N) and Lockheed Martin.

☆ Cramer's lightning round: Oxford Lane Capital is not a buy
▼ + stars: | 2022-12-19 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...DraftKings Inc : "I feel safer in my DraftKings than I do in a crypto. Applied Industrial Technologies Inc : "It's up 20% and that might be too much for the year." Loading chart...Oxford Lane Capital Corporation: "They own these collateralized loan obligations, which is always the stuff people really worry about going into a recession, so I'm going to have to take a pass on this one." Loading chart...Star Bulk Carriers Corp : "I have not been in favor of the carriers. I'm not going to change my mind."

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. "When people adjust their expectations after the Fed meeting, higher rates typically imply more compressed multiples for growth stocks." Further, hawkish messages delivered by three Fed officials including New York Fed President John Williams last week underscored the U.S. central bank's determination to do what it takes to ease price pressures. Still, money market participants are pricing in 65% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. The S&P index recorded five new 52-week highs and eight new lows, while the Nasdaq recorded two new highs and 59 new lows.

☆ Stock Prices in Tenths of a Penny Might Be Coming to a Trading Screen Near You
▼ + stars: | 2022-12-18 | by ( Alexander Osipovich | ) www.wsj.com time to read: 1 min

Get ready to see more numbers when you check your stock portfolio. Regulators unveiled a proposal last week that would cause some stocks to be quoted in price increments of as little as one-tenth of a penny. So, for example, if Uber Technologies Inc. shares are now trading at $26.20, the proposal opens the door to prices such as $26.204.

Dec 17 (Reuters) - L3Harris Technologies Inc (LHX.N) is nearing a $4.7 billion deal to acquire U.S. rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), 10 months after the latter's $4.4 billion sale to Lockheed Martin Corp (LMT.N) fell through, people familiar with the matter said on Saturday. L3Harris is a defense contractor that is mostly a competitor rather than a customer of Aerojet. Aerojet's solid fuel rocket motors and other propulsion systems would help L3Harris expand its space defense systems and precision munitions businesses. Spokespeople for Aerojet, L3Harris and General Electric did not immediately respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

☆ Advent to buy Maxar Technologies for about $4 bln
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: 1 min

Dec 16 (Reuters) - Maxar Technologies Inc (MAXR.N) said on Friday private-equity firm Advent International has agreed to buy the satellite owner and operator for about $4 billion. Under the agreement, Advent will pay $53 a share for Maxar, representing a premium of nearly 129% over the stock's last closing price. Westminster, Colorado-based Maxar, which has a market cap of $1.72 billion, is a satellite imaging company that observes changes on Earth and analyses data. Images of the battlefield in Ukraine are often provided by Maxar. Reporting by Tiyashi Datta in Bengaluru; Editing by Sherry Jacob-Phillips and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Cramer's lighting round: I like J.M. Smucker over Church & Dwight
▼ + stars: | 2022-12-13 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Church & Dwight Co Inc : "I've got to tell you, some of the other growth stocks in the same category I might as well [buy instead]. Smucker , that's a very good company. I think it's a little bit cheaper." Loading chart...Lumen Technologies Inc : "I don't understand why they're doing this badly." Camping World Holdings Inc : "I say it's fine to buy."

☆ Cramer's lightning round: Alphabet is not making enough money
▼ + stars: | 2022-12-09 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Alphabet Class A : "The company has got to cut costs, cut costs, cut costs. It is not making enough money." We got that right in a buy, we got that right in a sell, and what we did is we never looked back." Loading chart...Walt Disney Co : "I think Disney is a triple buy." Disclaimer: Cramer's Charitable Trust owns shares of Alphabet, Disney and Morgan Stanley.

☆ Hertz Names First CMO Since 2020 Amid New Focus on Electric Vehicles
▼ + stars: | 2022-12-08 | by ( Patrick Coffee | ) www.wsj.com time to read: +4 min

Hertz Global Holdings Inc. named former GE Appliances marketer Wayne Davis as its new chief marketing officer, making him the first CMO at the car rental services company since 2020, a spokesman said. The company’s most recent chief marketing officer, Jodi Allen, died in 2020. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. Electrification “speaks to mobility, and it speaks to making Hertz a brand for the future,” Mr. Davis said. Mr. Davis previously spent more than a decade at General Electric’s appliances division, which became GE Appliances after being acquired by Haier Smart Home Co. Ltd. in 2016.

☆ Uber, Motional launch robotaxi service in Las Vegas
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Dec 7 (Reuters) - U.S. ride-hailing firm Uber Technologies Inc (UBER.N) and driverless tech-maker Motional have launched their public robotaxi service in Las Vegas on Wednesday. Tough regulatory scrutiny and delayed commercial adoption of autonomous vehicle technology have delayed deployment of robotaxi services, leaving investors worried. The launch is part of a non-exclusive 10-year agreement between both the companies for driverless vehicles, with a rollout in Los Angeles expected to follow. In the multi-market deal, Motional's autonomous vehicles would also ferry both passengers and delivery items for Uber and its Uber Eats division. Last month, rival Lyft (LYFT.O) said it would launch the robotaxi service in Los Angeles after it had rolled out in Las Vegas earlier this year.

☆ Australia fines Uber $14 mln for misleading on fares and cancellation fees
▼ + stars: | 2022-12-07 | by ( Byron Kaye | ) www.reuters.com time to read: +2 min

SYDNEY, Dec 7 (Reuters) - An Australian court fined Uber Technologies Inc (UBER.N) A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides. The evidence supplied suggested less than 0.5% of Uber customers had gone ahead with a trip due to concern about cancellation fees. The UberTaxi algorithm overshot the fare estimate 89% of the time, but less than 1% of total Uber rides used that service, the judge said. The judge had made clear that the lower penalty "should not be understood as any reduction in the court's resolve to impose penalties appropriate to ... deterring contraventions of the Australian Consumer Law", Cass-Gottlieb added. ($1 = 1.4945 Australian dollars)Reporting by Byron Kaye; Editing by Bradley Perrett, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Uber launching driverless robotaxis in Las Vegas
▼ + stars: | 2022-12-07 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

While the autonomous vehicles are currently only available for ride hailing in Las Vegas, there are plans to expand to Los Angeles “at a later date,” according to the release. Uber said it plans on launching a fully driverless service with Motional in 2023. U.S. ride-hailing firm Uber Technologies Inc (UBER.N) and driverless tech-maker Motional said on Wednesday they launched their public robotaxi service in Las Vegas. UberMotional has been offering robotaxi services in Las Vegas since 2018 through Uber rival Lyft, though rides before 2020 were offered under parent-company Aptiv. The sale came after a a five-year run of developing self-driving vehicles that was marred by litigation and a fatal crash.

☆ Australia fines Uber $14m for misleading advertisements about fares and cancellation fees
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Dec 7 (Reuters) - An Australian court fined Uber Technologies Inc (UBER.N) A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides, lower than a regulator wanted but a setback for the company. The Australian arm of the U.S. ride-sharing app maker broke consumer law by misleading customers with warnings they would be charged for cancelling some rides from 2017 to 2021, and by using an inaccurate software algorithm to estimate fares for a taxi service it offered until August 2020, the federal court ruled. ($1 = 1.4945 Australian dollars)Reporting by Byron Kaye; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Leased Robots Roll in to Help Logistics Firms Handle Holiday Crush
▼ + stars: | 2022-12-06 | by ( Angus Loten | ) www.wsj.com time to read: +5 min

Sally Miller, chief information officer of DHL’s North American supply-chain business, a unit of Deutsche Post AG , said she is planning to deploy “a good number” of temporary robots at several of the company’s retail-focused sites. The Locus Robotics robots—which the manufacturer calls “surge bots”—will be used for picking up orders and fulfillment, Ms. Miller said. Photo: Locus RoboticsKnown as robots-as-a-service, leased robots are employed widely in manufacturing, but are relatively new to the logistics industry, analysts said. The extra robots, provided by Berkeley, Calif.-based Ambi Robotics Inc., helped the company handle a surge of packages, it said. Mr. Faulk, of Locus Robotics, said the company hopes many logistics firms will hold on to their temporary robots well after seasonal highs, as a way to eke out year-round efficiencies.

☆ Cramer's lightning round: I like Advanced Micro Devices over Micron
▼ + stars: | 2022-12-06 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Nu Holdings Ltd : "I've got U.S. financials, which until last Friday were just coming in with a head of steam. Loading chart...Micron Technology Inc : "I think the inventory glut lasts another six weeks and then the stock could be off to the races. If that's the case, there are others that would be even better, including Advanced Micro ." Loading chart...Robinhood Markets Inc : "I've got brokerage stocks that are fantastic that are going down left and right. Disclaimer: Cramer's Charitable Trust owns shares of Advanced Micro Devices.

☆ Uber Reaches Settlement with Chicago Over Fees and Restaurant Listings
▼ + stars: | 2022-12-05 | by ( Suryatapa Bhattacharya | ) www.wsj.com time to read: 1 min

Uber removed all remaining Chicago restaurants that had been listed on UberEats and Postmates without their consent. Uber Technologies Inc. agreed to a multimillion-dollar settlement with the city of Chicago over what authorities there called deceptive practices at UberEats and Postmates. Restaurants were listed without their consent and were charged excessive fees, according to a two-year investigation by the city.

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