Lionsgate’s New York Studio Complex Secures $40M Loan From CIT Bank

Stock Alert: Caleres Jumps 62%

Shares of Caleres Inc. (CAL) are surging more than 62 percent in Tuesday’s trading at $6.84 despite no stock-specific news. The stock has traded in a range of $3.12 to $28.50 in the past 52 weeks.

U.S. stocks are rising on Tuesday amid signs that the spread of the coronavirus is slowing in hot spots such as New York. New York Governor Andrew Cuomo said Monday that the number of new coronavirus deaths in the state has been “effectively flat” over the past two days.

Caleres said last Thursday that in response to the COVID-19 pandemic, its branded retail and Famous Footwear stores will remain closed until further notice.

Caleres added that it found it necessary to lay off or furlough associates across its retail stores, distribution centers and corporate operations, and has implemented a meaningful salary reduction across all levels of the remaining global workforce. This includes the executive leadership team and the company’s board of directors.

The company noted that furloughed employees will continue to receive healthcare benefits, with Caleres paying both employee and company premiums during this time. The company expects to maintain minimal staffing levels while its stores are closed.

Stock Alert: Copart Rises 7%

Shares of online vehicle auction and re marketing services provider Copart, Inc. (CPRT) are climbing more than 7% Tuesday morning at $70.22. There are no company-specific news to drive the stock up.

Before the coronavirus pandemic hitting the market, Copart shares had touched an all time high of $104.88 in February. It has recorded a 52-week low of $55.69 in March.

U.S. stocks are rising on Tuesday following news the spread of the coronavirus is slowing in hot spots like New York.

Stock Alert: Chefs’ Warehouse Rises 10%

Shares of The specialty food distributor Chefs’ Warehouse, Inc. (CHEF) are climbing more than 10% Tuesday morning at $11.44. There are mo company-specific news to move the stock up.

U.S. stocks are rising on Tuesday following news the spread of the coronavirus is slowing in hot spots like New York.

CHEF has been trading up for the past few weeks after touching its 52-week low of $3.55 last month. It has gained more than 200% since then.

CHEF had recorded a 52-week high of $42.06 in September last year.

Quibi Downloaded Over 300,000 Times On Day One In The U.S. And Canada (Versus 4 Million Installs For Disney+ At Launch)

Mobile analytics group Sensor Tower says its preliminary data shows new streaming service Quibi was installed by 300,000 users on its lauch day Monday

The firm showed that compared with 4 million installs for Disney+ when it first became available last November 12.

Jeffrey Katzenberg, founder of the short-form service, said in June that the company would spend $470 million on its marketing campaign in its first year. Quibi is offering a 90-day free trial. As of Tuesday morning, Quibi ranks as the No. 3 top free app on Apple’s App Store in the U.S. (following Zoom and TikTok).

MORE

G20 energy ministers to meet to foster global cooperation: statement

RIYADH (Reuters) – Saudi Arabia said it would convene a virtual meeting of energy ministers from the Group of 20 major economies on Friday “to foster global dialogue and cooperation to ensure stable energy markets and enable a stronger global economy”.

A statement from the Saudi G20 secretariat said the energy ministers, speaking by video conference, would also act to alleviate the impact of the coronavirus pandemic on global energy markets.

UN: Pandemic disrupts women's access to reproductive services

Life-saving reproductive and sexual health services cut for women worldwide and pregnant women are worried about the effects of the outbreak.

The UN says the pandemic has disrupted access to life-saving reproductive and sexual health services for women worldwide.

And pregnant women are worried about the effects of the outbreak.

Al Jazeera’s Priyanka Gupta reports.

Patience running short for federal energy industry aid, Alberta minister says

Alberta’s energy minister says patience in her province is wearing thin for a promised aid package from the federal government for the oil and gas sector.

Coronavirus: Terrebonne limits access to grocery and big-box stores

Traffic control measures are underway in Terrebonne, a city located north of Montreal, in an effort to stop the spread of the novel coronavirus.

Mayor Marc-André Plante said only residents from Les Moulins and L’Assomption regional municipal counties will be permitted to shop at supermarkets and big-box stores in the area.

Lionsgate’s New York Studio Complex Secures $40M Loan From CIT Bank

Lionsgate, media firm Great Point Capital Management and real estate company National Resources have secured a $40M loan from CIT Bank to complete the financing for their film and TV studio complex at i.Park Hudson in Yonkers, New York.

“CIT is a leader in community-driven projects and our financial support for this development will help bring jobs and revenue into Yonkers at a critical time,” said CIT Chairwoman and CEO Ellen Alemany.

“We are pleased to leverage our expertise and market knowledge to help finance this new studio project in the transformational i.Park Hudson development,” added Chris Niederpruem, managing director and group head for CIT’s Real Estate Finance group. “CIT is active in financing commercial properties in the Greater New York region, and this project represents a solid development opportunity in an attractive location.”