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  ·2021-08-26
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  Forbes Agrees to Go Public Through Merger With Magnum Opus SPAC
  Combined company to have implied equity value of $630 million Agreement comes after BuzzFeed’s earli
  Forbes Agrees to Go Public Through Merger With Magnum Opus SPAC
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  ·2021-08-26
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  S&P 500 Hitting 10 Records in August Emboldens Defensive Traders
  Stock volatility market sends cautious signals on risk-taking Amundi manager says time to hedge amid
  S&P 500 Hitting 10 Records in August Emboldens Defensive Traders
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22:53","market":"us","language":"en","title":"Forbes Agrees to Go Public Through Merger With Magnum Opus SPAC","url":"https://stock-news.laohu8.com/highlight/detail?id=2162092712","media":"Bloomberg","summary":"Combined company to have implied equity value of $630 million\nAgreement comes after BuzzFeed’s earli","content":"<ul>\n <li>Combined company to have implied equity value of $630 million</li>\n <li>Agreement comes after BuzzFeed’s earlier blank-check deal</li>\n</ul>\n<p>News publisher Forbes Global Media Holdings Inc. agreed to go public through a merger with blank-check firm <a href=\"https://laohu8.com/S/OPA\">Magnum Opus Acquisition Ltd</a>. as deal activity heats up in the media business.</p>\n<p>The combined company will have a pro forma equity value of $630 million, according to a statement Thursday. Forbes’ management team will remain in place after the deal, which is expected to close in late fourth quarter 2021 or early first quarter 2022.</p>\n<p>The announcement, confirming an earlier report by Bloomberg News, is the latest merger in the increasingly active news-media space, which also saw BuzzFeed Inc. agree in June to go public through a deal with a special-purpose acquisition company. Separately Thursday, German publisher Axel Springer agreed to buy Washington news site Politico.</p>\n<p>The Forbes transaction is expected to raise about $600 million of gross proceeds, including $200 million of cash in Magnum Opus’ trust account and $400 million of additional capital through a private placement of ordinary shares, the companies said.</p>\n<p>Forbes said it will capitalize on its brand and technology to “convert readers into long-term, engaged users of the platform” through memberships, recurring subscriptions and targeted product offerings.</p>\n<p>B.C. Forbes founded the magazine in 1917, and later handed the reins to his son Malcolm. Malcolm’s son Steve then ascended to president and chief executive officer, as well as editor-in-chief of the magazine, in 1990. He twice ran for U.S. president.</p>\n<p>The company, which curates “30 Under 30” and “50 Over 50” lists, said its brand reaches more than 150 million people worldwide and that it produces 45 licensed local editions in 76 countries. Forbes competes with Bloomberg LP’s news service in tracking the wealth of billionaires around the world, delivering financial news and hosting events.</p>\n<p>Magnum Opus, led by Chairman and CEO Jonathan Lin, a former Point72 executive, raised $200 million in a March initial public offering. The vehicle, sponsored by investment firm L2 Capital, has said it will search globally for a target operating in the global consumer, technology or media sectors “with disruptive growth potential through the use of technology that can benefit from operations in Asia.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Forbes Agrees to Go Public Through Merger With Magnum Opus SPAC</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForbes Agrees to Go Public Through Merger With Magnum Opus SPAC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-26 22:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-26/forbes-agrees-to-go-public-through-merger-with-magnum-opus-spac?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Combined company to have implied equity value of $630 million\nAgreement comes after BuzzFeed’s earlier blank-check deal\n\nNews publisher Forbes Global Media Holdings Inc. agreed to go public through a ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-26/forbes-agrees-to-go-public-through-merger-with-magnum-opus-spac?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-08-26/forbes-agrees-to-go-public-through-merger-with-magnum-opus-spac?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162092712","content_text":"Combined company to have implied equity value of $630 million\nAgreement comes after BuzzFeed’s earlier blank-check deal\n\nNews publisher Forbes Global Media Holdings Inc. agreed to go public through a merger with blank-check firm Magnum Opus Acquisition Ltd. as deal activity heats up in the media business.\nThe combined company will have a pro forma equity value of $630 million, according to a statement Thursday. Forbes’ management team will remain in place after the deal, which is expected to close in late fourth quarter 2021 or early first quarter 2022.\nThe announcement, confirming an earlier report by Bloomberg News, is the latest merger in the increasingly active news-media space, which also saw BuzzFeed Inc. agree in June to go public through a deal with a special-purpose acquisition company. Separately Thursday, German publisher Axel Springer agreed to buy Washington news site Politico.\nThe Forbes transaction is expected to raise about $600 million of gross proceeds, including $200 million of cash in Magnum Opus’ trust account and $400 million of additional capital through a private placement of ordinary shares, the companies said.\nForbes said it will capitalize on its brand and technology to “convert readers into long-term, engaged users of the platform” through memberships, recurring subscriptions and targeted product offerings.\nB.C. Forbes founded the magazine in 1917, and later handed the reins to his son Malcolm. Malcolm’s son Steve then ascended to president and chief executive officer, as well as editor-in-chief of the magazine, in 1990. He twice ran for U.S. president.\nThe company, which curates “30 Under 30” and “50 Over 50” lists, said its brand reaches more than 150 million people worldwide and that it produces 45 licensed local editions in 76 countries. Forbes competes with Bloomberg LP’s news service in tracking the wealth of billionaires around the world, delivering financial news and hosting events.\nMagnum Opus, led by Chairman and CEO Jonathan Lin, a former Point72 executive, raised $200 million in a March initial public offering. The vehicle, sponsored by investment firm L2 Capital, has said it will search globally for a target operating in the global consumer, technology or media sectors “with disruptive growth potential through the use of technology that can benefit from operations in Asia.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810497895,"gmtCreate":1629990425617,"gmtModify":1676530195484,"author":{"id":"3584943471294713","authorId":"3584943471294713","name":"sikerk","avatar":"https://static.tigerbbs.com/194ab3460fd2958efc57a4424622d9c1","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584943471294713","authorIdStr":"3584943471294713"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810497895","repostId":"1119883396","repostType":4,"isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810407432,"gmtCreate":1629989913526,"gmtModify":1676530195212,"author":{"id":"3584943471294713","authorId":"3584943471294713","name":"sikerk","avatar":"https://static.tigerbbs.com/194ab3460fd2958efc57a4424622d9c1","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584943471294713","authorIdStr":"3584943471294713"},"themes":[],"htmlText":"good","listText":"good","text":"good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/810407432","repostId":"1177456051","repostType":4,"repost":{"id":"1177456051","kind":"news","pubTimestamp":1629989770,"share":"https://ttm.financial/m/news/1177456051?lang=&edition=fundamental","pubTime":"2021-08-26 22:56","market":"us","language":"en","title":"S&P 500 Hitting 10 Records in August Emboldens Defensive Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1177456051","media":"Bloomberg","summary":"Stock volatility market sends cautious signals on risk-taking\nAmundi manager says time to hedge amid","content":"<ul>\n <li>Stock volatility market sends cautious signals on risk-taking</li>\n <li>Amundi manager says time to hedge amid 5-7% correction risk</li>\n</ul>\n<p>A winning&nbsp;streak&nbsp;for the S&amp;P 500 that has generated 10 record closes in August alone has strategistssplitover what comes next. No wonder the buyside is adding defensive buffers as they ride a bull market like no other.</p>\n<p>Just look at stock options. The S&amp;P 500’s three-month skew -- the cost of protective put contracts over bullish calls -- has risen since the end of June, and is higher than the five-year average.</p>\n<p>U.S. small-cap companies, which tend to be hitched to the economic cycle, are on track for the&nbsp;longest&nbsp;streak of underperformance since 2011 versus large-cap peers. Exchange-traded funds riding quant growth strategies are getting more cash this month than products betting on firms tied to the business cycle.</p>\n<p>These are signs that risk-on investors are adding protective buffers as the delta variant spreads and Federal Reserve policy makers gather to discuss the tapering of stimulus at the Jackson Hole symposium.</p>\n<p><img src=\"https://static.tigerbbs.com/046e9ccacb900f6f2fd7ff06a91954d2\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>While the S&amp;P closed at a fresh record Wednesday, recent data show the heady growth of the first half of the year is cooling, with a measure of U.S. business activity slowing to the weakest in eight months.</p>\n<p>“We are keeping committed to risky assets but with hedges in place because while macro-economic conditions are still resilient, there are issues that could hamper very high valuations,” Francesco Sandrini, senior multi-asset strategist at Amundi SA, said in an interview with Bloomberg TV. “We deem this environment very fragile. No doubt monetary conditions are affecting growth.”</p>\n<p>Sandrini prefers credit as a hedge against the risk of a stock correction that he says could be between 5% and 7% in the short- to medium-term.</p>\n<p>“It will not be a very deep correction,” he said. “But it’s the time where we need to have some hedges in place.”</p>\n<p>Treasury benchmarks have rallied since the 10-year yield peaked at 1.77% in late March, with bond flows undeterred by a series of hotter-than-anticipated inflation reports.</p>\n<p>Haven assets may be set for much bigger gains, if chartists at Bank of America Corp. are right. In a report this week, they projected Treasuries are at the start of an uptrend that at the same time signals a bearish phase for growth-sensitive stocks, oil and copper. Their conclusions are derived from two decades of trading patterns in U.S. bond futures versus the Russell 2000 and Bloomberg Commodities indexes.</p>\n<p><img src=\"https://static.tigerbbs.com/374ae23a802276f9c83effd73a77aca6\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Meanwhile, the underbelly of the stock-volatility market is sendingcautiousmessages as the virus spreads and market valuations sit at elevated levels.</p>\n<p>“Despite short-dated at-the-money implied volatilities falling, hedging activity -- as determined by equity skew -- has been very robust,” Man Group strategists&nbsp;wrote&nbsp;in a note this week.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 Hitting 10 Records in August Emboldens Defensive Traders</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 Hitting 10 Records in August Emboldens Defensive Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-26 22:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-26/s-p-500-hitting-10-records-in-august-emboldens-defensive-traders?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock volatility market sends cautious signals on risk-taking\nAmundi manager says time to hedge amid 5-7% correction risk\n\nA winning streak for the S&P 500 that has generated 10 record closes in ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-26/s-p-500-hitting-10-records-in-august-emboldens-defensive-traders?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-26/s-p-500-hitting-10-records-in-august-emboldens-defensive-traders?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177456051","content_text":"Stock volatility market sends cautious signals on risk-taking\nAmundi manager says time to hedge amid 5-7% correction risk\n\nA winning streak for the S&P 500 that has generated 10 record closes in August alone has strategistssplitover what comes next. No wonder the buyside is adding defensive buffers as they ride a bull market like no other.\nJust look at stock options. The S&P 500’s three-month skew -- the cost of protective put contracts over bullish calls -- has risen since the end of June, and is higher than the five-year average.\nU.S. small-cap companies, which tend to be hitched to the economic cycle, are on track for the longest streak of underperformance since 2011 versus large-cap peers. Exchange-traded funds riding quant growth strategies are getting more cash this month than products betting on firms tied to the business cycle.\nThese are signs that risk-on investors are adding protective buffers as the delta variant spreads and Federal Reserve policy makers gather to discuss the tapering of stimulus at the Jackson Hole symposium.\n\nWhile the S&P closed at a fresh record Wednesday, recent data show the heady growth of the first half of the year is cooling, with a measure of U.S. business activity slowing to the weakest in eight months.\n“We are keeping committed to risky assets but with hedges in place because while macro-economic conditions are still resilient, there are issues that could hamper very high valuations,” Francesco Sandrini, senior multi-asset strategist at Amundi SA, said in an interview with Bloomberg TV. “We deem this environment very fragile. No doubt monetary conditions are affecting growth.”\nSandrini prefers credit as a hedge against the risk of a stock correction that he says could be between 5% and 7% in the short- to medium-term.\n“It will not be a very deep correction,” he said. “But it’s the time where we need to have some hedges in place.”\nTreasury benchmarks have rallied since the 10-year yield peaked at 1.77% in late March, with bond flows undeterred by a series of hotter-than-anticipated inflation reports.\nHaven assets may be set for much bigger gains, if chartists at Bank of America Corp. are right. In a report this week, they projected Treasuries are at the start of an uptrend that at the same time signals a bearish phase for growth-sensitive stocks, oil and copper. Their conclusions are derived from two decades of trading patterns in U.S. bond futures versus the Russell 2000 and Bloomberg Commodities indexes.\n\nMeanwhile, the underbelly of the stock-volatility market is sendingcautiousmessages as the virus spreads and market valuations sit at elevated levels.\n“Despite short-dated at-the-money implied volatilities falling, hedging activity -- as determined by equity skew -- has been very robust,” Man Group strategists wrote in a note this week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}