Stock Alert: Cosan Gains 9%
Shares of Brazilian energy firm Cosan S.A. (CSAN) are trading 9% percent higher on Tuesday as the company said that it will file for an Initial Public Offering in the coming days.
The company, in a securities filing, Tuesday said that Raizen Combustiveis, its joint venture with Royal Dutch Shell PLC, will soon file the IPO. Raizen will join Brazilian stock exchange B3’s segment 2 of governance, the company added.
The stock is currently trading at $18.44, up $1.62 or 9% on the NYSE. CSAN has traded between $14.99 and $19.01 during the past 52 weeks.
Petra Kvitová suffers ankle injury during media requirements, withdraws from French Open
Petra Kvitová has withdrawn from the French Open due to an ankle injury she says she suffered Sunday during her post-match press requirements.
The 12th-ranked women's player in the world, seeded No. 11 in Paris, had rallied to beat Belgium's Greet Minnen in the first round 6-7 (3-7), 7-6 (7-5), 6-1 when "I fell and hurt my ankle," she wrote in a statement posted on social media.
"Unfortunately, after an MRI and much discussion with my team, I have made the tough decision that it would be unwise to play on it," Kvitová wrote. "It's incredibly bad luck, but I will stay strong and do my best to recover in time for grass-court season."
Kvitová, a two-time Wimbledon champion (2011, 2014), was scheduled to play Elena Vesnina in the second round; Vesnina will now advance. Kvitová made the semifinals at Roland Garros in 2020 and won bronze representing the Czech Republic during the 2016 Rio Olympics.
Bitcoin Recovers By 10% In 2 Days
Bitcoin recovered from a recent low of $33633 in two days. It recorded a gain of nearly 10 percent over the last 48 hours.
The most popular cryptocurrency is trading at $36868 while writing this report.
The current trends are bearish, analysts say.
Bitcoin more than halved on May 23 after hitting its all-time record of around $65,000 in April.
Multiple factors are said to have influenced the deep fall in Bitcoin prices.
Reports of move by China to crack down on cryptocurrency and tweets by Tesla CEO Elon Musk sent Bitcoin tumbling.
China banned financial and payment institutions from providing cryptocurrency services and the People’s Bank of China reiterated that digital tokens cannot be used as a form of payment.
Bitcon price plunged after Elon Musk said that his car company will not accept the cryptocurrency while selling Tesla vehicles.
BTC’s current market capitalization is $681 billion and global trade volume is $33 billion, according to Coinmarketcap.
U.S. Construction Spending Inches Up To New Record High In April
A report released by the Commerce Department on Tuesday showed U.S. construction spending increased by less than expected in the month of April.
The Commerce Department said construction spending edged up by 0.2 percent to an annual rate of $1.524 trillion in April after jumping by 1.0 percent to an upwardly revised rate of $1.521 trillion in March.
Economists had expected construction spending to climb by 0.6 percent compared to the 0.2 percent uptick originally reported for the previous month.
With the modest increase from March’s upwardly revised level, the annual rate of construction spending hit a new record high in April.
The report showed spending on private construction rose by 0.4 percent to an annual rate of $1.181 trillion in April.
While spending on residential construction surged up by 1.0 percent to a rate of $729.2 billion, the jump was partly offset by a 0.5 percent drop in spending on non-residential construction to a rate of $451.4 billion.
Meanwhile, the Commerce Department said spending on public construction fell by 0.6 percent to an annual rate of $343.5 billion amid a decrease in spending on educational construction.
The report also showed total construction spending in April was up by 9.8 percent compared to the same month a year ago.
NFL calendar hits key June 1 date; here’s what it could mean for Aaron Rodgers and Julio Jones
The NFL draft is five weeks in the rearview, and training camps are still two months away. Even with clubs slogging through organized team activities and mandatory minicamps around the corner, it feels like the offseason has hit a lull.
But stay tuned – everything could change after today.
June 1 is a key date on the league calendar because it triggers important salary ramifications. Teams that trade or release players, especially those with hefty contracts, after June 1 can defer the salary cap freight – essentially how a player's bonus money is amortized – associated with such transactions into the following year.
NBA bubble fatigue: LeBron James would rather retire than play for Orlando Magic
LeBron James is done with Orlando, so much so that he would rather retire than play for the Magic.
In a tongue-in-cheek segment during HBO's "The Shop: Uninterrupted," the Lakers star forward joked about his disdain for the city, blaming last year's NBA bubble that took place at a sporting complex in the Orlando suburb of Lake Buena Vista, Florida.
"That’s part of the reason I haven’t taken my daughter to Disney World," James said during the segment in between laughs. "You got to understand, any time I hear Orlando right now, I get PTSD. I was in the bubble for 95 (days)."
James was then cut off and asked if Orlando would have a shot to sign him during free agency.
"They have no chance," he responded, drawing laughter from the other participants, including musicians Jay-Z and Bad Bunny.