Cytokinetics Rockets 14% As Novartis Reportedly Nears A Buyout Deal Cytokinetics Rockets 14% As Novartis Reportedly Nears A Buyout Deal Mon, January 8, 2024, 2:12 PM EST Symbol Last Price Change % Change CYTK Cytokinetics, Incorporated 104.51 +10.78 +11.50% Novartis is closing in on a takeover of Cytokinetics, the Wall Street Journal reported Monday, leading CYTK stock to soar in afternoon action.
BIRK $47 might run now that CROX has done it's thing. Boy did I nail this shoe thing or what!!! AI Ha! It's about experiences and in order to have experiences you must be wearing shoes. Call Of The New Year!!!! CROX Crocs, Inc. 104.09 +17.63 +20.40% DECK Deckers Outdoor Corporation 681.54 +29.25 +4.48% ONON On Holding AG 28.05 +1.48 +5.57% SKX Skechers U.S.A., Inc. 63.01 +2.61 +4.32%
REVISITING A FORMER STOCK OF THE WEEK- SPHR SPHR up $7 since upgrade./ But up only $4 from the recovery print> We can certainly set some clear levels to buy this nae again. Guggenheim analyst Curry Baker lifted his rating on Sphere’s stock to Buy from Neutral after a recent selloff that saw the shares skid to $28.41 Tuesday from a high of more than $40 after the company’s Sphere arena in Las Vegas opened to favorable reviews on Sept. 29. Sphere stock slid 15.5% Tuesday to $28.41 on what appeared to be bearish bets on the shares related to the $225 million convertible-bond deal, as arbitragers may have shorted the stock—making bets shares will fall—ahead of the convert pricing. The stock was up 10% to $31.25 Wednesday. “We expect profitability to increase throughout the course of [calendar 2024] and [calendar 2025] as SPHR layers on traditional sponsorship (including naming rights) and a fuller slate of evening shows/residencies,” Baker wrote in a client note. He lifted his price target on the stock to $40 from $38. Naming Rights<--- I pulled that prospect out of their S1.... Could ignite the stk. Baker wrote that the company’s disclosure Tuesday that the Sphere segment would be profitable in the current quarter was “particularly impressive” given its expense base. The arena has opened with a series of concerts by U2, and it also is showing an originally produced hourlong film called Postcard from Earth that has generated substantial ticket sales. Postcard from Earth has proven popular, with some $44 million in revenue through Nov. 30 with ticket prices averaging about $100 each. That production makes use of the arena’s distinctive sound and light system. The company also is exploiting the exterior of the Sphere with over a million LED lights for advertising. Baker sees earnings per share of $1.91 in the company’s fiscal year ending in June 2024, and $3.52 the following fiscal year. That's good growth folks! The company, which also owns Madison Square Networks, the regional cable broadcaster of New York Knicks - Knicks on fire!!!! and Rangers games, Rangers kicking ass! But despite that the broadcast bizz is not good sold $225 million of convertible debt due in 2028 with a 3.5% interest rate and a conversion premium of 25% above the stock’s closing price of $28.41 on Tuesday, according to a press release Wednesday.The conversion price is $35.51 a share. The converts look like an attractive, lower-risk alternative to the stock because of downside protection of a bond and upside due to the equity-conversion feature. The company has an equity-market capitalization of about $1 billion, $1.2 billion of debt, and more than $400 million in cash. Most of the debt—more than $900 million—is backed by MSGN (the regional cable business), and is non recourse to Sphere, meaning the company is not on the hook for that debt, which matures next October. With falling profitability amid cord-cutting, MSGN may not be worth the debt it is now carrying. MSGN had about $170 million of adjusted operating income in the company’s fiscal year ended in June, down 18% year over year. Adjusted profits were down another 24% in the September quarter to $25 million. Valuations of regional sports networks have come down in recent years. GBA SHOWS YOU THE MONEY!!!!! CROX + 20% Sphere said in an 8-K regulatory filing that the company anticipates that it will pay down a portion of the maturing MSGN debt next year in conjunction with a planned refinancing of that debt. The issue for the company is whether it effectively wants to invest more in what many view as a declining business or simply walk away and let lenders take control of the sports network. That might sit well with investors, who are mainly interested in the Sphere arena’s potential as a distinctive entry in the hot live-entertainment space in one of the country’s best tourist destinations. However, the Dolan family, which controls Sphere, also controls MSG Sports, which owns the Knicks and Rangers, and Madison Square Garden Entertainment, which owns the Madison Square Garden arena where the teams play. The Dolans may be reluctant to give up control of a prime asset related to the two sports teams. Baker addressed that issue in his note. “We would also note there is another $7 [per share] of value if SPHR walks away from the underwater RSN (regional sports network) business. We assume management will be rational next year in evaluating the RSN options. More clarity on what the company intends to do with the RSN business will likely occur next Spring/Summer.” He wrote that the proceeds from the convertible-bond deal targeted to institutional investors may be used for growth initiatives such as the development of other Sphere projects around the world. The Vegas Sphere cost $2.3 billion, about $1 billion more than the initial cost estimate. Sphere Entertainment financed the entire project on its own, but is looking for partners for other Spheres around the world. Sphere did suffer a setback recently when London rejected a plan for a Sphere arena. The company owns about $80 million of land in the city and could monetize that London parcel. One Sphere investor tells Barron’s that the company flubbed the convertible offering by selling it based off such a low stock price. The company didn’t need the money now given that it ended September with over $400 million in cash. Both of Sphere’s segments, the arena and MSGN, are profitable. Sphere declined to comment. The company has said it may use the convertible bond proceeds for for “Sphere-related growth initiatives” but wasn’t specific. Sphere is using a small part of the proceeds of the deal to boost the conversion price to about $42 a share, minimizing potential dilution. The company might have helped itself by offering financial guidance for the current fiscal year for the Sphere arena and pledging to control operating expenses. The company merely said that the Sphere segment (the arena) would be profitable in the current quarter. Sphere hasn’t provided financial guidance for profits or expenses for the current year ending in June. Operating expenses for the Sphere segment were about $90 million in the latest quarter and investors would like a better understanding about the ongoing run rate. The annualized revenue from the arena ran at a healthy $450 million annualized rate in the October and November and that only reflected ticket sales and not advertising or other revenues which were not disclosed. This suggests the arena could be quite profitable assuming costs are restrained. Sphere CEO James Dolan was asked on the company’s conference call in November whether the Sphere segment (the arena) could be profitable with just the Vegas arena. He responded: “That’s correct. But if you spend like a drunken sailor on the content, it’s going to be a little difficult. You got to be a little disciplined and moderate, but you still want to have great product.”
Is that $6.80 FNGR? Why Is Monday.com (MNDY) Stock Soaring Today. The Stock was named Stock Of The Week at gummybear advisors Mon, January 8, 2024, 2:03 PM EST In this article: MNDY +6.03% Why Is Monday.com (MNDY) Stock Soaring Today What Happened: Stonedinvestor upgraded the name & made it his focus stock of the week.
FormFactor, Inc. LIVERMORE, Calif., Jan. 04, 2024 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) is pleased to announce its participation in the 26th Annual Needham Growth Conference on January 17, 2024. FormFactor is scheduled to present on Wednesday, January 17 at 9:30AM ET.
The downgrade of CYTK and falling to $85 lured me back, the volume started cranking. I wish I played bigger. Cramer warned us Big Bio is shopping with a vengeance!
I made the appointment that took alot of guts. And bad feelings inside. Now I have to keep to it. I have a bad reputation of leaving my apartment for Dr's appointments and not showing up...