What Investors Should Know About Ginkgo Bioworks SPAC Deal: 'Cell Programming Has The Potential To Impact Every Physical Goods Industry' 2021/05/11 19:29:59 Benzinga
A well seasoned SPAC management team announced a SPAC deal Tuesday to bring a cell programming company public. The SPAC Deal: Ginkgo Bioworks is going public in a SPAC deal with Soaring Eagle Acquisition Corp (NASDAQ: SRNG ) that values the company at a pre money equity value of $15 billion. Soaring Eagle Acquisition Corp is a SPAC from Harry Sloan and Jeff Sagansky, a seasoned SPAC team that previously brought DraftKings Inc (NASDAQ: DKNG ) and Skillz (NYSE: SKLZ ) public. The SPAC merger includes an oversubscribed PIPE of $775 million from key investors that included Baillie Gifford, Bain Capital, T. Rowe Price, Ark Investment Management and Cascade Investment, led by Bill Gates. Current Soaring Eagle Acquisition shareholders will own 10% of the company post merger. About Ginkgo Bioworks: Building a leading horizontal platform for … Full story available on Benzinga.com
Fidelity cuts Ant Group's valuation in half to $144 billion after regulatory crackdown in China 2021/05/03 13:38:53 Business Insider
Summary List Placement Fidelity cut Ant Group's implied valuation to $144 billion from $300 billion, according to regulatory filings. The decline in valuation comes after China imposed a regulatory crackdown on the fintech giant. Fidelity initially invested in Ant Group in June 2018 at a $150 billion valuation. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . China's regulatory crackdown of Ant Group in recent months has led Fidelity to cut its implied valuation of the fintech giant in half, according to regulatory filings first seen by The Wall Street Journal. Fidelity's implied valuation of Ant Group fell to $144 billion from $295 billion, according to the filing. Fidelity first invested in Ant Group in June 2018 at a valuation of $150 billion. The implied valuation represents a massive drop from last year's expected IPO valuation of more than $310 billion. Fidelity isn't the only US money manager that invested in Ant Group prior to its IPO. BlackRock and T.
3 takeaways from a top Democratic senator's new book on monopolies that should have Big Pharma worried 2021/04/27 19:28:22 Business Insider
Summary List Placement Federal officials are increasing scrutiny of mergers and acquisitions in the biotech and pharma industry, and it's spooking analysts and investors. In recent months, the Federal Trade Commission has announced the creation of an international working group to review how pharmaceutical mergers, in particular, are handled. Some of the deals going through the FTC, such as Illumina's $7.1 billion purchase of Grail , have been contested as attempts to dominate a market . This increased scrutiny and other "regulatory activism" led one of Wall Street's top analysts, SVB Leerink's Geoffrey Porges, to downgrade biopharma stocks last month. Now, one of Congress' leading monopoly-busters and a recent front-runner for attorney general , Sen. Amy Klobuchar, has published a book detailing how she would combat what she sees as monopolies and other anticompetitive measures building up in the US. And the pharmaceutical industry is right in her line of sight. Klobuchar, a Minnesota Democrat, doesn't just take aim at companies acquiring one another.
The surge of retail traders entering the stock market is straining systems for online brokers (INX, DJIA, COMPX, NDX, RUT) 2021/04/27 17:01:55 Business Insider
Summary List Placement Retail investors using online brokerage accounts are increasingly running into problems, including issues with trade executions as companies deal with a jump in the number of clients, according to a study published Tuesday. Retail brokers have struggled to ensure a smooth customer experience as the industry opened more than 10 million new accounts in 2020, underscoring the surge in interest in investing during the COVID-19 pandemic, said data analytics firm J.P. Power. Troubles with websites, trade processing and execution, and account statements are among the most frequent sources of problems for retail investors, said J.D. Power whose survey was based on the responses of 4,895 investors who said they make all their investment decisions without consulting a full-service, dedicated financial advisor. The firm said problem incidence has doubled in the past year, affecting 11% of all Do-It-Yourself investors and 12% of those in the seeking-guidance segment of self-directed investors. "The significant influx of new investors — and increased trading volumes and overall engagement from clients — clearly put a strain on the system and a spotlight on some of the most critical areas that firms need to address if they want to continue to attract and retain self-service investors," Michael Foy, head of wealth intelligence at J.D.
8 e-commerce retail brands expected to boom in 2021, according to industry experts 2021/04/23 14:21:27 Business Insider
Summary List Placement 2021 looks to be a good year for e-commerce after 2020 saw the sector blow past investor expectations. According to e-commerce platform Shopify , retail e-commerce enjoyed 10 years' worth of growth in as little as 90 days due to the COVID-19 pandemic. With consumers more reliant than ever on online shopping, the coronavirus pandemic sparked soaring online sales . Plenty of major e-commerce companies may even go public in the coming months . But which e-commerce outfits are truly on the verge of booming in 2021? Business Insider analyzed the numbers from private capital data firm PitchBook Data and spoke to experts in the industry to find out which companies could see the most opportunity come their way in the coming months. SEE ALSO: Online retailer Wish just landed a $17 billion valuation in its IPO. Here are 21 other ecommerce companies experts say could go public in 2021. Instacart Investors : D1 Capital Partners, T. Rowe Price, PV Seed Fund, General Catalyst, Regah Ventures, DST Global, The Spaventa Group, and Valiant Capital Partners Latest funding : Series G and Series H Funding size : $550 million in 2020 Headquarters : San Francisco What it does : Instacart is a food and essential goods delivery company.
Ark Funds, Illumina Invest In SomaLogic SPAC Deal: What Investors Should Know 2021/03/29 15:16:06 Benzinga
A leader in the proteomics field is going public with a SPAC deal announced Monday. The SPAC Deal: SomaLogic announced a SPAC deal with CM Life Sciences II Inc (NASDAQ: CMIIU ), valuing the company at $1.2 billion. A $375 million PIPE on the SPAC merger includes investments from SoftBank Group Corp (OTC: SFTBY ), T. Rowe Price, Illumina, Inc. (NASDAQ: ILMN ), Novartis AG (NYSE: NVS ) and accounts advised by Ark Invest. Kevin Conroy, the CEO of EXACT Sciences Corporation (NASDAQ: EXAS ) will join the board of directors after the merger is complete. Current shareholders of CM Life Sciences II will own 14% of the company after the merger. PIPE investors will own 20% of the company after the merger. About SomaLogic: Using … Full story available on Benzinga.com
Rivian to install more than 10,000 EV chargers by end of 2023 2021/03/18 19:41:45 TechCrunch
Rivian, the EV startup backed by Amazon, Cox Automotive and T. Rowe Price, plans to building out a network of more than 10,000 chargers by the end of 2023 in a network aimed at quickly powering its electric vehicle models on highways and at further afield locations next to hiking and mountain biking trailheads and […]
T. Rowe Price Is Pruning Its Money Funds. Will It Stop There? 2021/03/18 14:47:00 Barron's
T. Rowe Price announced this week that it would be liquidating one money fund and merging two others out of existence. What that means for the troubled asset class.
T. Rowe Price Launches its First Impact Fund - ESG Today 2021/03/17 19:30:27 ESG Today
T. Rowe Price announced today the launch of its new Global Impact Equity Fund, the first impact fund for the global investment manager. According to T. Rowe Price, the new fund aims to enable investors to simultaneously pursue their financial goals and to have a positive impact on the global environment and social equity issues. […]
T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by First Mercantile Trust Co. 2021/03/13 17:44:43 Modern Readers
First Mercantile Trust Co. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,802 shares of the asset manager’s stock after acquiring an additional 355 shares during […]
T. Rowe Price names new president, COO 2021/02/11 14:37:02 The Daily Record Maryland
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Looking Closer At T. Rowe Price’s Equity Income ETF, ‘TEQI’ 2021/02/04 16:15:32 ETF Trends
For value-oriented investors seeking a lower-risk approach to long-term capital appreciation, T. Rowe Price has an active ETF that can satisfy. Launched in August 2020, the T. Rowe Price Equity Income ETF (Ticker: TEQI) invests at least 80% of its net assets in common stocks, with an emphasis on large-capitalization stocks that have a strong track […] The post Looking Closer At T. Rowe Price’s Equity Income ETF, ‘TEQI’ appeared first on ETF Trends .
An Amazon and Rivian investor says the way CEO RJ Scaringe sees the future reminds him of Jeff Bezos in 1994 2021/02/03 14:41:02 Business Insider
Summary List Placement Rivian CEO RJ Scaringe has an ability to think decades into the future that's reminiscent of Amazon CEO Jeff Bezos, according to T. Rowe Price portfolio manager Joe Fath. Scaringe has outlined an innovative retail model for Rivian that could one day include subscriptions and short-term rentals. Scaringe is also charismatic, intelligent, and humble, Fath said. Are you a current or former Rivian employee? Do you have an opinion about what it's like to work there? Contact this reporter at firstname.lastname@example.org , on Signal at 646-768-4712, or via his encrypted email address email@example.com . Visit Business Insider's homepage for more stories . Amazon CEO Jeff Bezos ' expansive vision for the online retailer has turned a once humble bookseller into one of the world's most valuable companies. Instead of maximizing short-term profits, Amazon has invested aggressively in long-term growth and diversification. Since it was founded in 1994, Amazon has built a delivery-logistics network to rival UPS and FedEx while expanding into cloud computing, artificial-intelligence, self-driving cars, and many other lines of business.
T. Rowe Price Group (NASDAQ:TROW) Releases Earnings Results, Beats Expectations By $0.42 EPS 2021/01/29 13:20:44 Transcript Daily
T. Rowe Price Group (NASDAQ:TROW) announced its quarterly earnings data on Thursday. The asset manager reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.42, Briefing.com reports. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. The business had revenue of […]
9 big things: The race to build the next Tesla 2021/01/24 06:00:00 Yahoo Finance
Tesla sold fewer than 500,000 cars last year, by far its highest annual total on record. That accounted for less than 1% of all global automotive sales. And yet Tesla is now one of the 10 most valuable companies in the world, and its co-founder and CEO, Elon Musk, is the wealthiest person alive. You can see why it's a company others would want to emulate. There is now a consensus that the future of automobiles will be powered by electricity, not gasoline. The first-mover advantage is a powerful thing, and Tesla clearly has it in the race to bring electric vehicles to the masses. But as the massive potential of this nascent market becomes obvious, it's also clear that there is still room for others to seize a significant slice for themselves. Two other electric vehicle upstarts with two different strategies have each raised billions in new funding from investors hoping to find just a little bit of that Tesla magic. That's one of nine things you need to know from the past week: Tesla's stunning 2020 has set the stage for a surge of investor interest in EVs. (Victor Habbick Visions/Getty Images) 1.