What’s on TV This Week: ‘Saturday Night Live’ and ‘Hostages’
The sketch comedy show begins its 48th season. And HBO airs a documentary about the Iran hostage crisis.
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By Shivani Gonzalez
European Shares Slip On Interest-rate Worries
European stocks fell in cautious trade on Monday ahead of a busy week of central bank meetings.
13 central bank meetings are scheduled this week, which are certain to see borrowing costs rise across the globe.
As inflation worries mount, it remains to be seen whether the Federal Reserve will be forced to raise rates by 100 bps at the end of a two-day policy meeting on Wednesday.
The Bank of England meets on Thursday, with markets split on whether the central bank will raise rates by 50 or 75 basis points ahead of a mini budget to be unveiled by the new Chancellor of the Exchequer Kwasi Kwarteng on Friday.
The BoE meeting is delayed by a week after the death of Queen Elizabeth II.
The pan European Stoxx 600 was down 0.6 percent at 405.69 after losing 1.6 percent on Friday.
The German DAX and the U.K.’s FTSE 100 both dipped around 0.6 percent, while France’s CAC 40 index was down 1.1 percent.
Swiss drug major Roche fell about 1 percent despite the European Commission approving its Vabysmo to treat vision loss.
City of London Investment Trust shares fell around 1 percent. The British company reported that its fiscal 2022 net return before taxation declined to 100.47 million pounds from last year’s 267.16 million pounds.
Volkswagen was moving lower, reversing early gains. The German automaker is seeking to raise nearly 9.4 billion euros ($9.41 billion) from the initial public offering of its iconic sports-car maker Porsche AG.
Pre-market Movers: BCAN, REUN, FOXO, ETNB, INO…
The following are some of the stocks making big moves in Monday’s pre-market trading (as of 06.45 A.M. ET).
In the Green
BYND Cannasoft Enterprises Inc. (BCAN) is up over 309% at $17
Reunion Neuroscience Inc. (REUN) is up over 88% at $4.64
FOXO Technologies Inc. (FOXO) is up over 62% at $6.52
Inovio Pharmaceuticals, Inc. (INO) is up over 21% at $2.34
Senti Biosciences, Inc. (SNTI) is up over 21% at $1.95
Edgio, Inc. (EGIO) is up over 19% at $3.74
bluebird bio, Inc. (BLUE) is up over 15% at $7.31
Amprius Technologies, Inc. (AMPX) is up over 10% at $9.20
In the Red
89bio, Inc. (ETNB) is down over 27% at $4.56
Innate Pharma S.A. (IPHA) is down over 14% at $2.63
Valneva SE (VALN) is down over 11% at $14.27
FLEX LNG Ltd. (FLNG) is down over 7% at $29.86
Nano Labs Ltd (NA) is down over 7% at $5.17
Borr Drilling Limited (BORR) is down over 7% at $3.60
Frontline Ltd. (FRO) is down over 6% at $11.96
Take-Two Interactive Software, Inc. (TTWO) is down over 5% at $117.25
Intellinetics, Inc. (INLX) is down over 5% at $4.29
Sainsbury’s Says No Longer In Talks To Sell 18 Supermarket Stores To LXi REIT
Sainsbury (J) Plc (JSAIY.PK,SBRY.L), a British super market chain, Monday announced that it is no longer in discussions to sell 18 supermarket stores to LXi REIT Plc. Shares of LXi REIT were losing around 2 percent in the morning trading in London.
Last week, Sainsbury’s announced that it was in talks to sell 18 supermarket stores to LXi REIT on a sale and leaseback basis.
In a statement, the company now said LXi REIT announced earlier this morning that it was not proceeding with the share issue that would have part-funded the transaction, citing current stock market volatility.
The company had stated earlier that if the LXi transaction were to proceed, the cash received from this transaction would have been used to part-fund the purchase of 21 freehold Sainsbury’s supermarkets from the Highbury and Dragon portfolios.
The purchase of these 21 stores will complete in the first half of the financial year to March 2024. The company said it has a wide variety of alternative options to finance the deal with its strength of the balance sheet and property portfolio.
In London, LXi REIT shares were trading at 125.20 pence, down 1.9 percent.
Tetra Tech, Inc. Announces Acquisition Of RPS Group – Quick Facts
The boards of Tetra Tech, Inc., Tetra Tech UK Holdings Limited and RPS Group plc (RPS.L) have reached agreement on the terms of a recommended cash acquisition pursuant to which Tetra Tech UK Holdings, a subsidiary of Tetra Tech, Inc., will acquire the entire issued and to be issued share capital of RPS. RPS shareholders will be entitled to receive, for each RPS share held: 222 pence in cash. The deal values the entire issued and to be issued share capital of RPS at approximately 636 million pounds.
The merger is expected to be mid to high teen percent accretive to Tetra Tech’s adjusted earnings per share after realising the full benefit from an estimated 21 million pounds in cost synergies and integration into Tetra Tech.
Also, the RPS directors have withdrawn their recommendation of the WSP offer.
Pre-market Movers: BHIL, GSUN, NUV, HRTG, EFSH…
The following are some of the stocks making big moves in Monday’s pre-market trading (as of 06.50 A.M. ET).
In the Green
Benson Hill, Inc. (BHIL) is up over 61% at $3.99
Nuveen Municipal Value Fund, Inc. (NUV) is up over 17% at $10.00
Heritage Insurance Holdings, Inc. (HRTG) is up over 13% at $2.75
1847 Holdings LLC (EFSH) is up over 13% at $2.32
Nordic American Tankers Limited (NAT) is up over 12% at $3.43
Ciena Corporation (CIEN) is up over 10% at $44.70
Overseas Shipholding Group, Inc. (OSG) is up over 10% at $3.05
Las Vegas Sands Corp. (LVS) is up over 7% at $38.19
Ultragenyx Pharmaceutical Inc. (RARE) is up over 6% at $44.08
Cohn Robbins Holdings Corp. (CRHC) is up over 6% at $9.75
Trip.com Group Limited (TCOM) is up over 5% at $27.41
In the Red
Golden Sun Education Group Limited (GSUN) is down over 27% at $38.11
Hillenbrand, Inc. (HI) is down over 10% at $33.93
Avenue Therapeutics, Inc. (ATXI) is down over 10% at $4.05
Stabilis Solutions, Inc. (SLNG) is down over 8% at $6.80
Archaea Energy Inc. (LFG) is down over 5% at $16.51
PermRock Royalty Trust (PRT) is down over 5% at $6.85
NatWest Group plc (NWG) is down over 5% at $5.05
Diana Shipping Inc. (DSX) is down over 5% at $4