Caesars Stock Offering Said to Price at $56 Amid M&A Bid

Gold Rises Ahead Of US Presidential Debate

Gold prices rose slightly on Tuesday as investors looked for cues from the final round of Brexit trade talks as well as the upcoming U.S. presidential debate.

Covid-19 news flow and developments on the latest U.S. stimulus measures also remained on investors’ radar.

Spot gold edged up 0.1 percent to $1,884.03 per ounce, while U.S. gold futures were up 0.3 percent at $1,888.55.

The European Union and Britain have indicated that a post-Brexit deal was still some way off as negotiations recommenced over implementing their Withdrawal Agreement.

U.S. President Donald Trump and challenger Joe Biden will meet tonight in Cleveland for their first of three debates that could shake up the race for the White House.

On the Covid-19 front, the global death toll from the pandemic eclipsed 1 million on Monday night, with U.N. Secretary General António Guterres calling it a “mind-numbing figure”.

He said that it was crucial that the international community learn from the mistakes made in the first 10 months of the pandemic.

Separately, Anthony S. Fauci, the United States’ leading infectious-disease expert, called Florida’s full reopening of bars and restaurants “very concerning,” and warned it will spark more coronavirus outbreaks.

Snap-on Announces Acquisition Of AutoCrib – Quick Facts

Snap-on Incorporated (SNA) has acquired the assets of AutoCrib, Inc. for approximately $36 million in cash. Based in Tustin, California, AutoCrib is a designer, manufacturer and marketer of tool and asset control solutions. AutoCrib will be part of the company’s Commercial & Industrial Group, effective with Snap-on’s fiscal fourth quarter.

Snap-on said the acquisition complements and expands the company’s existing tool control offering to customers in a variety of industrial applications, including aerospace, automotive, military, natural resources and general industry.

Oil Slips Ahead Of Inventory Data

Oil edged lower on Tuesday as rising coronavirus cases fed concerns about fuel demand and investors looked to inventory data for clues on demand recovery.

Benchmark Brent crude slipped 0.3 percent to $42.72 a barrel, while U.S. West Texas Intermediate futures were down 0.4 percent at $40.44 a barrel.

The global death toll from the coronavirus pandemic eclipsed 1 million on Monday night, with U.N. Secretary General António Guterres calling it a “mind-numbing figure”.

He said that it was crucial that the international community learn from the mistakes made in the first 10 months of the pandemic.

Separately, Anthony S. Fauci, the United States’ leading infectious-disease expert, called Florida’s full reopening of bars and restaurants “very concerning,” and warned it will spark more coronavirus outbreaks.

Investors will be looking for signs of growth in U.S. demand from American Petroleum Institute data due out later in the day and from the Energy Information Administration, due to be released on Wednesday.

Hornbach Group Q2 Net Profit Rises – Quick Facts

Hornbach Group (HBAPF.PK) reported that its second quarter net profit increased to 112.0 million euros from 70.0 million euros, previous year. Earnings per share was 5.51 euros compared to 3.57 euros. Adjusted EBIT increased to 161.9 million euros from 101.5 million euros.

Second quarter net sales were 1.56 billion euros compared to 1.27 billion euros, previous year. Like-for-like sales growth (DIY) was 21.4%, for the quarter.

For the 2020/21 financial year, the company now projects adjusted EBIT to range between 270 million euros (previously: 230 million euros) and 330 million euros. Consolidated sales are now expected to show growth in a corridor of between plus 8% (previously: plus 5%) and plus 15%.

AngioDynamics Guides FY21 Well Above Estimates – Quick Facts

While reporting financial results for the first quarter of fiscal 2021 on Tuesday, medical devices company AngioDynamics, Inc. (ANGO) provided adjusted earnings and net sales guidance for the full year 2021.

For fiscal 2021, the company now projects adjusted earnings in a range of flat to $0.05 per share on net sales between $278 million and $284 million.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.04 per share on net sales of $66.22 million for the year. Analysts’ estimates typically exclude special items.

China Ceramics HY Loss Narrows

China Ceramics Co., Ltd. (CCCL), a Chinese manufacturer of ceramic tiles, reported that its net loss for the six months ended June 30, 2020 narrowed to RMB 111.5 million or US$15.8 million, from last year’s RMB 193.2 million or US$28.5 million, due to the decrease in bad debt expense, which was partially offset by a decrease in gross profit.

Loss per share for the period were RMB 40.82 or US$5.77 compared to loss per share of RMB 96.69 or US$14.25 for the same period of 2019.

Revenue for the period was RMB 39.8 million or US$5.6 million, a 77.6% decrease from RMB 177.4 million or US$ 26.2 million for the same period of 2019. The year-over-year decrease in revenue was due to the 73.4% decrease in its sales volume to 1.8 million square meters of ceramic tiles for the six months of 2020 compared to 6.6 million square meters of ceramic tiles for the same period of 2019, with the decrease attributable to reduced sales orders of products due to the COVID-19 pandemic.

Caesars Stock Offering Said to Price at $56 Amid M&A Bid

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A share sale byCaesars Entertainment Inc. to help fund its bid forWilliam Hill Plc has priced at $56 per share, people familiar with the matter said. Caesars shares fell 4% premarket.

Tuesday’s offering price represents a 3.8% discount to Monday’s closing price. Proceeds from the offering may be put toward the company’s cash offer for the British gambling group, Caesars said in a statement on Monday.

Read more: Caesars Bid for William Hill Is Gamble on Sports-Betting Values

Pricing plans for the 30 million-share offering wereaccelerated by a day on Monday, a person familiar with the matter said at the time. Deutsche Bank and JPMorgan are underwriting the share sale.