CM – Top US Stocks to Watch For Before the Bell Gets: Cloudera, AMC, and Moderna


Joshua Warner
June 1, 2021 1:24 p.m.

The cloud computing data company Cloudera is set to be privatized by KKR and Clayton Dubilier & Rice as part of a $ 4.7 billion deal.

The private equity firms have agreed to pay $ 16 per share for Cloudera, a premium of 24% on the company’s closing price on Friday. The deal is slated to close in the second half of this year and Cloudera in particular has the opportunity to evaluate potentially better deals over the next 30 days.

Earlier this year it was reported that Cloudera was looking into a possible sale as interest grew from other companies after a number of well-known players in the cloud computing market began to bring new services to the market using compete with those of Cloudera.

AMC Entertainment plans to raise $ 230.5 million through the sale of 8.5 million shares to Mudrick Capital Management for $ 27.12 each.

AMC, whose shares have more than doubled in the past two weeks alone, said it would use the proceeds to purchase additional theater rentals, invest in its existing locations, and help deleverage the business.

“Given our scale, experience and commitment to innovation and excellence, AMC offers highly attractive theater acquisition opportunities. For example, we are in discussions with several great theater rental companies that were formerly operated by Arclight Cinemas and Pacific Theaters. With this agreement with Mudrick Capital, we have raised funds that will enable us to aggressively hunt for the most valuable theater assets, make other strategic investments in our business, and pursue debt reduction opportunities, « said CEO and President Adam Aron.

The vaccine is currently only used under emergency approval, and applying for full approval is a natural path for vaccine manufacturers as Pfizer recently made the same application for its BioNTech-made vaccine.

In the US alone, there have been over 124 million Doses of the Moderna vaccine administered.

The pharmaceutical giant Eli Lilly & Co has received emergency approval in India for its antibody-drug combination for the treatment of people suffering from the coronavirus.

The combination of the antibodies Bamlanivimab and Etesevimab is allowed in hospitals restricted to being used to mi people t to help mild to moderate coronavirus. Eli Lilly said it was in talks with officials about donating cans and providing other possible treatments.

The company has already received emergency approval in India for another treatment combination of its arthritis drug baricitinib and remdesivir.

The price of Tesla cars will rise as its supply chain comes under pressure and raw material costs rise, its founder and CEO warns on Twitter.

« Prices are rising due to industry-wide price pressure in the supply chain. Especially raw materials, ”Elon Musk said in a tweet.

According to the Electrek website, this will be the fifth incremental price increase for the Model 3 and Model Y in a few months.

Facebook and Google parent company Alphabet have signed multi-year contracts with Australian broadcaster Nine Entertainment for their content and news.

Nine Entertainment owns news platforms such as the Australian Financial Review and the Sydney Morning Herald. The deal means the country’s three largest media companies have reached agreements for their news content with the two U.S. tech giants who gave in to pressure to negotiate fair deals for news publishers after News Corp and Seven West Media agreed terms earlier this year.

Nine Entertainment will be providing articles and clips for Google’s News Showcase platform over the next five years, while a similar deal with Facebook will last three years.

Oil giants Equinor, ExxonMobil and Petrogal Brasil will drive the $ 8 billion development of the Bacalhau oil discovery in Brazil.

Equinor and ExxonMobil each have a 40% stake in the discovery, with the local company owning 20%. Equinor will operate the field and aims to produce the first oil in 2024 with the hope of producing up to 220,000 barrels daily. It is believed that well over 1 billion barrels of recoverable oil can be tapped in the first phase.

Goodyear Tire & Rubber is accused of violating labor laws, including non-payment of wages, forced overtime labor and threats to foreign workers, by its workers at its Malaysian factory.

Citing court documents, Reuters said several unnamed workers and Malaysian officials said Goodyear falsely deducted amounts from workers’ salaries and denied certain employees access to their passports while at the same time forcing employees to spend excessive hours to work.

It was revealed that hundreds of workers sued Goodyear in 2019 and 2020 and that regulators fined the company last year for overwork and underpaid employees. The verdict on the latest case, in which workers are demanding around $ 1.2 million, is expected in the coming weeks.

Canopy Growth posted strong sales growth as marijuana demand spiked during the pandemic, but posted significantly larger losses.

Net sales rose 38% to $ 148.4 million in the fourth quarter a net loss of $ 616.7 million. For the full year, Canopy saw revenue jump 37% to $ 546.6 million, while net loss rose to $ 1.67 billion from $ 1.38 billion a year ago.

The sales growth did not result in higher profits, although it significantly reduced operating costs due to impairments and restructuring charges. Canopy expects to be profitable on an adjusted basis in the second half of the new fiscal year.

The ride service company Uber said there are signs that drivers are gradually returning to their platform after many left due to lower travel demand during the pandemic.

Uber said that by the week of May 17, more drivers returned to its platform than anyone else since early 2021, with 33,000 of them joining its US platform alone. It did not state how this compares to pre-pandemic levels. This has helped reduce customer waiting times and should result in lower prices. Uber has introduced new incentives to attract more drivers so it can take full advantage of the recreational opportunities this year.

« As the economy recovers, drivers are returning to Uber to take advantage of higher earning opportunities from our driver incentives while they are still available, « said Carrol Chang, head of Uber’s US and Canadian driver business.

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