Spotify Technology SA.’s smaller French rival Deezer looks to go public via a SPAC merger backed by billionaire Francois Pinault’s investment group and investment banker Matthieu Pigasse, the Financial Times reports. Deezer merged with I2PO, a Paris-listed special purpose acquisition company. The SPAC raised €135 million in the form of Private Investment in Public Equity (PIPE) financing. France’s billionaire Pinault family…
This Smaller Spotify Rival Looks to Go Public via €1.05 Billion SPAC Merger
Ukraine War Has Boosted Demand for Missile Defenses, Lockheed Says
April 20, 2022
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Business & Economyeconomic policieseconomyEuropeinflationLockheed MartinMarketsRussia-Ukraine WarRussia's invasionstocksWorld
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Russia’s attack on Ukraine, including regular barrages of rockets, has boosted demand for Lockheed Martin missile defense systems, the No. 1 U.S. weapons maker said on Tuesday. “We’ve got demand signals for THAAD and PAC-3 from around the world,” Chief Executive Jim Taiclet said after Lockheed reported a drop in quarterly sales and profits. THAAD…
J&J Pulls COVID Vaccine Sales Forecast Due to Low Demand, Supply Glut
Johnson & Johnson on Tuesday rescinded its forecast for sales of its COVID-19 vaccine, as hesitancy in low income countries has led to a glut of supply of a shot once hoped to be the inoculation of choice for the developing world. The company had previously predicted as much as $3.5 billion in 2022 sales…
Stellantis Suspends Vehicle Production in Russia
MILAN—Carmaker Stellantis said on Tuesday it was suspending production at its Russian plant due to logistical difficulties and sanctions imposed on Moscow. The world’s fourth-largest automaker, which produced and sold the Peugeot, Citroёn, Opel, Jeep, and Fiat brands in Russia, has just 1 percent of the country’s car market. It runs a van-making plant in…
Meta Institutional Investors Urge Opposing Re-Election of 2 Board Members
A group representing some of Meta Platforms Inc.’s institutional investors urged shareholders of the Facebook owner to vote against the re-election of two of its board members, Marc Andreessen and Peggy Alford. “We believe the lack of independence of board members Peggy Alford and Marc L. Andreessen is undermining the board’s ability to adequately oversee…
Amazon Workers in Small New Jersey Facility File for Union Election
April 20, 2022
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AmazonBusiness & EconomyCompanieseconomyelectionLocal NewsNew JerseyRegional-Local NewsunionUSUS News
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(Reuters) -Amazon.com Inc workers at a small facility in New Jersey have shown enough interest to hold a vote on unionizing, the U.S. National Labor Relations Board (NLRB) said on Monday. At least 60 of 200 workers from Amazon’s DNK5 depot in Bayonne, New Jersey, have submitted cards seeking to organize as part of Local…
Raymond James Lists Key Takeaways From Qualtrics’ Proxy Filing
Qualtrics International Inc.’s April 15 proxy filing also disclosed new ACV and retention metrics pertinent to investors, Raymond James observed. Qualtrics added $365.1 million in new software ACV billings in 2021, effectively aligning with the target performance level of $365.0 million. Total research services billing of $160.1 million also were effectively in-line with the target performance level of…
Raymond James Says Coupa Beat Oracle and SAP in Software Market Share Gains
April 20, 2022
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Business & EconomyBusinesses in COVID-19CompaniesCoupa Softwareeconomymarket shareMarketsRaymond James
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Raymond James observed Gartner’s report that saw Coupa Software Inc. gain ~135 points of software market share in procurement, with a growth of 35 percent, more than double the industry average at ~16 percent. While acquisitions aided that market share gain, Raymond saw that none of the most prominent players (mainly Oracle Corp. and SAP SE. with 43 percent…
Bank of America Reports Strong Earnings Results: Why This Investor Says the Firm Is Well Positioned Moving Forward
Bank Of America Corp. on Monday reported strong first-quarter financial results led by an increase in consumer lending activity. What Happened Bank Of America said first-quarter revenue grew 2 percent year-over-year to $23.2 billion, which beat the average analyst estimate of $23.1 billion. The firm reported quarterly earnings of 80 cents per share, which beat the…
Safe-T Releases Revenue Guidance for Q1 FY22
Safe-T Group Ltd. offered preliminary revenue guidance for the quarter ended March 31, 2022. Safe-T is a global provider of cybersecurity and privacy solutions to consumers and enterprises. What Happened Safe-T looks to report Q1’22 revenues of ~$4 million, nearly tripling its revenues compared to the $1.4 million reported for Q1’21. The Q1 results include continued…
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