Stock Alert: Dave & Buster’s Jumps 30%

Lincoln Center Theater Postpones Broadway’s ‘Flying Over Sunset’ Until Fall

Flying Over Sunset, the new Broadway musical by James Lapine, Tom Kitt and Michael Korie that suspended production March 12, will reopen this fall, Lincoln Center Theater announced today.

LCT also will reopen its new Off Broadway opera Intimate Apparel this fall.

“We are proud of these shows and the many talented artists who made them,” said LCT artistic director André Bishop, “and we hope and pray that we will reopen them in the Fall. That is our plan. May better times come to us all.”

Both productions suspended performances when theaters were closed on March 12 by Gov. Andrew Cuomo in preparation for the coronavirus pandemic.

Flying Over Sunset features a book and direction by Lapine, music by Kitt and lyrics by Korie, with choreography by Michelle Dorrance. The musical, about LSD trippers Aldous Huxley, Clare Boothe Luce and Cary Grant, was scheduled to begin previews on March 12 for an opening night of Thursday, April 16. Intimate Apparel, with music by Ricky Ian Gordon, libretto by Lynn Nottage based on her play, and direction by Bartlett Sher, began previews on Thursday, February 27 and was scheduled to open Monday, March 23.

Ticket holders to performances for the remainder of the original runs of both productions will automatically receive a refund from their point-of-purchase, with no further action is necessary. Tickets purchased with cash can be refunded at the box office once the theater has reopened.

Pfizer Reports FDA Approval For Expanded Indication Of EUCRISA – Quick Facts

Pfizer Inc. (PFE) announced the U.S. FDA has approved the company’s supplemental New Drug Application for EUCRISA ointment, 2%, extending the lower age limit from 24 months down to 3 months in children with mild-to-moderate atopic dermatitis. The company said the supplemental approval makes EUCRISA the first and only steroid-free, topical prescription medication for mild-to-moderate atopic dermatitis patients as young as 3 months of age.

The FDA approval for the expanded indication of EUCRISA was supported by data from a Phase 4, open-label, clinical study.

Oil Prices Soar As Dollar Extends Slide On Fed Stimulus

Oil prices soared on Tuesday and the dollar fell for a second day running after the U.S. Federal Reserve unveiled fresh measures to supply precious liquidity into funding markets.

Meanwhile, if media reports are to be believed, U.S. Senate leaders and the
Trump administration appear closer to reaching bipartisan agreement on a stimulus bill that would inject nearly $2 trillion into the economy.

Benchmark Brent crude surged 5.9 percent to $28.62 a barrel, while West Texas Intermediate (WTI) crude futures were up as much as 7.4 percent at
$25.09.

Global risk sentiment improved after the Fed said it would go beyond the $700 billion in asset purchases announced last week.

The Fed proposed to buy a wide range of investments, including corporate bonds for the first time, to improve trading in markets that help home buyers finance the purchase of houses, state and local governments borrow and businesses get enough short-term cash to make payroll.

Investors also monitored news headlines on the coronavirus, which infected more than 350,000 people worldwide so far.

Britain went into lockdown late Monday while Italy reported a smaller increase in coronavirus cases for the second consecutive day.

Spain imposed an Italy-style lockdown in a bid to contain the spread of the virus. There is lockdown in most parts of India to deal with the novel coronavirus threat.

IHS Markit Ltd. Q1 adjusted earnings Beat Estimates

IHS Markit Ltd. (INFO) released a profit for its first quarter that increased from the same period last year.

The company’s earnings came in at $485.0M, or $1.20 per share. This compares with $109.7M, or $0.27 per share, in last year’s first quarter.

Excluding items, IHS Markit Ltd. reported adjusted earnings of $266.0 million or $0.66 per share for the period.

Analysts had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 2.9% to $1.08 billion from $1.05 billion last year.

IHS Markit Ltd. earnings at a glance:

-Earnings (Q1): $266.0 Mln. vs. $243.1 Mln. last year.
-EPS (Q1): $0.66 vs. $0.60 last year.
-Analysts Estimate: $0.64
-Revenue (Q1): $1.08 Bln vs. $1.05 Bln last year.

Shaftesbury FY EPRA Earnings To Be Significantly Below Current Market View

Shaftesbury PLC (SHB.L) said, in view of the likely reduction in rents collected in the coming months, full year EPRA earnings are now expected to be significantly below current market expectations. The Board has decided that no interim dividend will be declared at the half year.

The Group said its strategy over the coming months is to preserve liquidity, which is currently approximately 254 million pounds, comprising approximately 29 million pounds of cash and 225 million pounds of committed revolving credit facilities.

Stock Alert: Dave & Buster’s Jumps 30%

Shares of restaurant and entertainment business Dave & Buster’s Entertainment, Inc. (PLAY) are climbing more than 30% Tuesday morning despite no company-specific news.

U.S. stock surged today in the early trading as investors are hopeful of ending Washington gridlock on economic relief plans to end soon.

PLAY is currently trading at $13.26. It has traded in the range of $4.60- $59.60 in the past one year.