Stock Alert: Sunrun Hits New 52-week High On Vivint Solar Acquisition

Palantir Confidentially Files To Go Public

Palantir Technologies Inc., the Silicon Valley big data analytics company that has handled U.S. government’s certain sensitive projects, said it has confidentially filed documents with the Securities and Exchange Commission to go public.

In a statement, the company said the proposed public listing of its Class A common stock is expected to take place after the SEC completes its review process.

Meanwhile, in a filing with the SEC last week, the startup said its raised $549.73 million and plans to sell $411.37 million worth of shares further. The total offering would be $961.10 million worth of stock.

There were reports in June that the company was planning to file a registration statement for an IPO with the SEC as soon as September.

Palo Alto, California-based Palantir sells software to aggregate big data for governments and corporations across the world. It was co-founded in 2004 by billionaire Peter Thiel.

In its most recent fundraising round in 2015, Palantir was valued at about $20 billion. Amid the COVID-19 pandemic, the company is working with a number of countries to trace the spread of the virus and manage the production of critical medical supplies, Reuters reported.

South Africa has bad record on keeping budget promises – Fitch

JOHANNESBURG, July 7 (Reuters) – South Africa has a poor track record of implementing debt and spending reductions plans, ratings firm Fitch said on Tuesday, adding that consolidation plans announced in last months supplementary would be difficult to implement due to low growth.

“They have had previous plans to achieve a primary balance which would have required smaller adjustments, and those have been abandoned. So the track record of following up on such plans isn’t really there,” said Fitch’s head of Africa sovereign ratings Jan Friederich during a webinar.

Brazil: Coronavirus restrictions lifted in Rio, Sao Paulo

Bars and restaurants in Brazil’s biggest city Sao Paulo have reopened after more than three months of restrictions.

Brazil is the worst affected country by the coronavirus pandemic in Latin America.

But despite this, the largest city Sao Paulo is bowing to pressure from the business sector to lift restrictions.

The permission to reopen gyms, bars, restaurants and shopping centres in Rio de Janeiro and Sao Paulo, Brazil’s two biggest cities, comes just as the country surpasses 1.6 million infections and more than 65,000 deaths from COVID-19.

Al Jazeera’s Lucia Newman reports.

Rollins Projects Low To Mid-single Digits Revenue Growth In Q2 – Quick Facts

Rollins, Inc. (ROL) said it expects revenue growth for the second quarter to reach low to mid-single digits over prior year revenues, while residential pest control revenues are anticipated to reach high single to low double digit growth year-on-year.

Eddie Northen, Chief Financial Officer and Treasurer said: “There are still more unknowns than knowns for the future; however, for the second quarter we have seen strong improvement in our residential service line accompanied by appropriate cost containment for our revenue levels.”

Stock Alert: Livongo Health Up 12% As Quarterly Outlook Lifted

Shares of Livongo Health, Inc. (LVGO) are currently up 12% on Tuesday morning after the company lifted its second-quarter revenue guidance.

Mountain View, California-based Livongo now expects second-quarter revenues of $86 million to $87 million, up from the prior view of $73 million to $75 million. Analysts polled by Thomson Reuters currently estimate revenues of $74.97 million for the quarter.

The updated revenue outlook includes approximately $2 million to $3 million of items that management considers non-recurring or one-time in nature.

LVGO is currently trading at $86.81, up $9.18 or 11.82%, on the Nasdaq.

Here's our best look yet at Super Nintendo World, the new section of Universal Studios dedicated to all things Super Mario

  • Universal Studios and Nintendo have been working for several years on Super Nintendo World, a Super Mario-based section of the theme park in Osaka, Japan.
  • As you might imagine, Super Nintendo World is awash with everything from spinning coins to toothy piranha plants. 
  • Though Nintendo and Universal have yet to let the public in, new footage from a nearby hotel showcases the many, many "Super Mario" references built into Super Nintendo World.
  • Check it out below!
  • Visit Business Insider's homepage for more stories.

Exclusive FREE Report: Brand Investment in eSports by Insider Intelligence

Stock Alert: Snap Adds 5%

Shares of camera and social media company Snap Inc. (SNAP) are climbing more than 5% Tuesday morning at $24.72, close to its 52-week high of $24.90. There are no company-specific news to move the stock up.

The company’s multimedia messaging app, Snapchat saw more than 35% increase in the first quarter ended March 31 as more people were spending time on Snapchat during the Coronavirus lockdown.

The stock had nearly 3-fold growth in the past couple of months.

Stock Alert: Sunrun Hits New 52-week High On Vivint Solar Acquisition

Shares of Sunrun Inc. (RUN) are rising more than 16 percent or $3.43 in Tuesday’s morning trade at $24.77, after touching a new 52-week high of $24.86 earlier.

San Francisco-based Sunrun is a provider of residential solar, battery storage and energy services. Monday, Sunrun said it agreed to acquire Vivint Solar, Inc. (VSLR) in an all-stock transaction, under which each share of Vivint Solar common stock will be exchanged for 0.55 shares of Sunrun common stock. The transaction represents a combined enterprise value of $9.2 billion, based on the closing price of Sunrun’s shares on July 6, 2020.

Vivint Solar stockholders are expected to own about 36 percent and Sunrun stockholders are expected to own about 64 percent of the fully diluted shares of the combined company. The transaction is expected to be completed during the fourth quarter of 2020.

Sunrun has traded in a range of $7.84 to $24.86 in the past 52 weeks.