ARWR earnings call for the period ending March 31, 2021.
OneSpan (OSPN) delivered earnings and revenue surprises of -100.00% and 1.75%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg) -- Steinhoff International Holdings NV is looking to raise as much as 4.6 billion zloty ($1.2 billion) by listing its European retail arm Pepco Group NV in Poland, capitalizing on increased demand for discount goods amid the coronavirus crisis.The South African retailer and other holders plan to sell 101.3 million existing shares, the company said in a statement on Wednesday. Pepco won’t receive any proceeds from the offering.Shares will be marketed at 38 zloty to 46 zloty apiece. At the top end of the range, the offering would be the sixth largest-ever in Warsaw. The deal, which values Pepco at as much as 26.4 billion zloty, will be priced on May 14, with the new stock set to start trading in Warsaw on or about May 26.Pepco is one of the largest brick-and-mortar retailers to tap the European IPO market after a spate of listings by companies benefiting from the shift to virtual sales in recent months. Those included Polish postal locker firm InPost SA, e-commerce platform Allegro.eu SA and British online shopping emporium THG Plc.Low-priced retailers have thrived over the past year, even with limited or no e-commerce. The global recession triggered by the pandemic has accelerated the generational shift toward frugality and discounters that began during the financial crisis more than a decade ago.In Poland, Pepco’s biggest market, off-line retailers such as Dino Polska SA and Jeronimo Martins SPGS SA’s Biedronka chain proved resilient to the pandemic as consumer demand for staples boosted sales. Analysts at Santander Bank Polska SA and PKO Bank Polski SA said Pepco can withstand e-commerce competition because of its fast pace of opening stores, chances of returning to high like-for-like sales growth and low average basket value.Steinhoff, which was plunged into an accounting scandal in 2017, will list as much as 17.5% of Pepco. The offering includes an option to sell an additional 15.4 million shares if there’s sufficient demand. Steinhoff has been looking to sell or list the business for more than a year to raise funds to repay debt.Pepco also struck agreements with lenders for 550 million-euros ($659.9 million) of new term loans and a 190 million-euro revolving credit facility, according to a separate statement last week.The company has more than 3,200 stores in 16 markets. Its operations include the Pepco discount clothing and homeware chain, which has a presence in fast-growing eastern European countries including Poland, Romania and Bulgaria and discount retail chain Poundland in the U.K. The company also runs Dealz outlets with food and cosmetics in Ireland, Spain and Poland and recently expanded into Italy as part of its plan to reach more western European markets.Goldman Sachs Group Inc. and JPMorgan Chase & Co. are global coordinators for Pepco’s IPO. Barclays Plc, BM PKO BP and Banco Santander SA are joint bookrunners; Pekao Investment Banking SA and Bank Polska Kasa Opieki SA - Biuro Maklerskie Pekao are co-bookrunners, while ING Bank NV and Trigon Dom Maklerski SA are co-lead managers.(Updates with charts, analyst comments in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- The State
The capital city would join 20 states and dozens of other cities in prohibiting the practice.
- Insider Monkey
Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Small Cap Growth Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. Small-cap stocks advanced once again in the first quarter of 2021. However, there was a rather considerable disparity among the two style indexes, as the Russell […]
Johnson & Johnson (JNJ) closed at $167.77 in the latest trading session, marking a +1.55% move from the prior day.
Supporters say the move would increase vaccine production but the pharmaceutical industry disagrees.
- Business Insider
Caitlyn Jenner told Sean Hannity she doesn't think California needs to fund a high-speed rail: 'I can get on a plane at LAX and I'll be in San Francisco in 50 minutes'
Jenner, a Republican, is running against California Gov. Gavin Newsom in a special recall election.
- Business Insider
A GOP-backed auditing group in Maricopa County is burrowing through ballots in search of bamboo fibers and Chinese paper to prove a far-fetched theory votes were flown in from Asia
Workers at the Arizona recount are looking into an absurd theory that some 40,000 Biden ballots actually contain Chinese bamboo fibers. They believe signs of the fibers would prove that the ballots actually came from Asia.
The Pentagon said Wednesday it's tracking the uncontrolled descent of the Long March-5B Y2 rocket that carried a Chinese Space Station module to orbit last week.Details: Defense Department spokesperson John Kirby told reporters the rocket's debris was expected to return to Earth "somewhere around" May 8 and that the U.S. Space Command has said "almost the entire body of the rocket" remains intact. "It's too soon to know exactly where it's going to come down," he added.Stay on top of the latest market trends and economic insights with Axios Markets. Subscribe for freeOur thought bubble, via Axios' Miriam Kramer: This isn't the first time a rocket or spacecraft launched by China's space agency has come down to Earth uncontrolled. Space watchers also played a waiting game as China’s Tiangong-1 space station came back through the atmosphere in 2018, eventually burning up above the Pacific Ocean.Like this article? Get more from Axios and subscribe to Axios Markets for free.
- The Telegraph
Britain and America's navy chiefs said they were "operating in lockstep to preserve the freedom of the seas" as they met in Washington on Tuesday before a massive joint deployment to the Indo-Pacific region. The UK's First Sea Lord, Admiral Tony Radakin, said the deployment of the new Carrier Strike Group (CSG) was a testament to the strength of the special relationship "in an increasingly contested world", as well as a recognition of the economic advantages of the region. The programme represents the UK's biggest deployment of maritime and air power since the Falklands war. Adml Radakin said Britain plans to increase its naval presence in the Indo-Pacific region in the wake of the recent integrated defence and security review. The defence review, which was published in March, identified China and Russia as two key global adversaries. "We see China as being a challenge and a competitor," Adml Radakin told reporters at Washington's Navy Yard on Wednesday. "I think when we talk about a tilt to the Indo-Pacific, it's about recognising the economic weight here. By 2040 to 2050, 40 per cent of the world's GDP is going to be harbored in that region.
The bill would require death row inmates to choose between being shot by firing squad or electrocuted amid the state's lack of lethal injections.
Divorce is usually caused by one of the '3 i's,' therapists say. Here's what they are, and how they destroy a marriage.
Conflict caused by incompatibility or irreconcilable differences can impact a couple over the course of their marriage, therapist Tess Brigham said.
- The Telegraph
Leading health experts have conflicting views on whether it is the right move to strip pharmaceutical companies of the intellectual property rights on Covid-19 vaccines. While the World Health Organisation (WHO) welcomed the decision by the US on Wednesday to waive its IP rights - calling it a “watershed moment” - some scientists warn the move could backfire. Dr Anthony Fauci, President Joe Biden’s chief medical adviser, has pushed back against the global calls, warning it may not be the best way to actually improve vaccine access. In an interview this week Dr Fauci, the head of the US’s National Institute of Allergy and Infectious Diseases, said he was “agnostic” about the idea of waiving rights as it may not be “the fastest and most efficient way” of getting shots in arms. “If you take too long, people are going to die,” he told the Financial Times. “There are other ways to ramp up vaccine production around the world." With Covax, the WHO-led vaccine-sharing programme, struggling to gain momentum because of vaccine shortages, pleas have been growing to do something about what rights groups term “vaccine apartheid”.
- The Week
The United States will advocate for waiving COVID-19 vaccine patent protections in discussions with the World Trade Organization, U.S. Trade Representative Katherine Tai announced Wednesday. The Biden administration "believes strongly in intellectual property protections," Tai said in a statement, but the White House will back the waiver given the "extraordinary circumstances of the COVID-19 pandemic." The administration has faced pressure to support the measure, which is aimed at increasing vaccinations around the world — especially in countries experiencing a surge in infections, like India — without having to rely solely on exports. These extraordinary times and circumstances of call for extraordinary measures. The US supports the waiver of IP protections on COVID-19 vaccines to help end the pandemic and we’ll actively participate in @WTO negotiations to make that happen. pic.twitter.com/96ERlboZS8 — Ambassador Katherine Tai (@AmbassadorTai) May 5, 2021 Proponents were pleased with the news, but shortly after Tai's announcement, stocks of pharmaceutical companies that have produced vaccines, including Moderna and Pfizer, plummeted. I seems the Biden administration has decided to throw its weight behind a patent waiver on Covid vaccines. This is what it's doing to the vaccine makers' share prices. pic.twitter.com/zwh4Aekmvj — Kiran Stacey (@kiranstacey) May 5, 2021 It remains unclear if the protections will actually be waived since all 164 members of the WTO will need to agree on the matter, but backing from the U.S. should certainly move the needle. More stories from theweek.comAmerica's nervous breakdown is right on scheduleThe GOP puts all its eggs in one dangerous basketThe DNC is reportedly preparing for a potential 2024 presidential run from MyPillow's Mike Lindell
- Yahoo News
President Biden said Wednesday that he didn't understand Republican efforts in the U.S. House of Representatives to replace Rep. Liz Cheney.
- Business Insider
What it's like to get COVID-19 after a vaccine, according to people who had 'breakthrough' infections
Karlee Camme, 24, was not sick enough to suspect she had COVID-19 after getting fully vaccinated. She got tested when she lost her sense of smell.
- Business Insider
The 7 most anticipated new movie releases in May, from Netflix's 'Army of the Dead' to 'A Quiet Place Part II'
Netflix will release Zack Snyder's zombie action movie "Army of the Dead" this month, and Paramount will finally debut its "A Quiet Place" sequel.
- Business Insider
Netflix's Mark Millar plans to build a streaming superhero universe starting with 'Jupiter's Legacy,' after inspiring some of Marvel's biggest stories
Comic writer and Millarworld president Mark Millar talked to Insider about Netflix's purchase of his company and its first series, "Jupiter's Legacy."
The Amazon.com founder will launch people into space on his New Shepard vehicle on 20 July.
- Business Insider
One dose of Pfizer or AstraZeneca vaccine was highly effective at preventing coronavirus in older people, real-world data from South Korea suggests
It is not clear from South Korea's data how long protection against COVID-19 from a single shot lasts or the severity of illness it stopped.