Monthly Archives: May 2021

TipRanks

Take a good look at the headlines, and youll be excused for thinking that were back in 1979. The late Carter years are remembered as the time of stagflation: high inflation, high unemployment, fuel shortages, and a general malaise. So far, weve seen fuel shortages and gas station lines across the Southeast, rising commodity and housing prices, and unemployment ticking up even as the number of job openings increases. Weighing in from investment firm Goldman Sachs, chief economist Jan Hatzius believes that the current worrisome numbers are a short-term phenomenon. I think that its quite plausible that employers may be prioritizing post-pandemic hiring over seasonal hiring to some degree that then shows up as weaker numbers. Thats still going to be with us, I think, for the next couple of months. But the flip side should be stronger job growth numbers than we previously thought later in the year," Hatzius noted. Turning to inflation, Hatzius again outlines a better picture for the long-term: Ultimately, its going to be more temporary. A lot of the drivers of inflation, not just the commodity numbers, but also things like the base effect and some of the impact of reopening on service prices a lot of that is pretty short-term. It doesnt really tell you a lot of inflation in 2022 when we think well probably be back to about 2% for core PCE. Sometimes, the market pros will go out on a limb and take a position that is clearly an outlier compared to the consensus. Thats what Hatzius is doing here, and his colleagues have his back. Using the TipRanks database, weve found three stocks that Goldmans analysts have picked out for 50% or better gains. Here are the details. Vivint Smart Home (VVNT) Well start with an interesting take on the internet of things, the smart home niche. Vivint Smart Home is a leader in this industry, delivering home security systems and home automation, services that include security cameras, doorbell cameras, and outdoor grounds cameras. Vivint boasts over 1.5 million customers in North America. This month, Vivint has seen both good and bad news. On May 3, the company settled a court action with the US Department of Justice and the Federal Trade Commission, accepting a $20 million fine for alleged violations of the Fair Credit Reporting Act. On the positive side, the company reported solid year-over-year gains in its 1Q21 financial release. Vivant showed a 13.2% yoy gain in revenues, to $343.3 million, driving by a 20.1% increase in new subscribers. The total number of new subscribers, 60,127, was a company record for Q1. Looking ahead, Vivint gave upbeat forward guidance, predicting 2021 revenue in the range of $1.38 to $1.42 billion, and a year-end total of 1.8 to 1.85 million subscribers. For Goldman Sachs analyst Rod Hall, all of this adds up to reason for an upgrade. Hall bumped his stance on VVNT from Neutral to Buy, and set his price target at $24, suggesting an impressive one-year upside of 81%. (To watch Halls track record, click here) We believe Vivints consumer financing partnerships position the company for sustained positive cash-flow driven by reduced upfront subscriber acquisition cost outlays. We also see valuation as attractive at current levels with a reverse DCF suggesting unlikely negative terminal growth assumptions embedded in the current stock price. Further, we see a potential entry into the insurance business as an option on additional value, Hall explained. Overall, VVNT has received 4 recent analyst reviews, breaking down to 3 Buys versus 1 Hold and making the analyst consensus rating a Strong Buy. The stock has current trading price of $23.20 and an average price target of $13.07, indicating ~75% upside potential for the next 12 months. (See VVNT stock analysis on TipRanks) DoubleVerify Holdings (DV) The digital world has transformed the advertising and marketing industries but along with that, has come issues in trust. DoubleVerify, a newly public company, is in the business of ensuring safety in the world of online advertising. The company offers a software platform for measurement and analytics in digital media, providing marketers with secure and accurate data to track campaigns and results. The goal: greater confidence in branding and customer reach. DoubleVerify has been in the digital ad business for over a decade, and just last month, it went public. The IPO was initially priced at $27 per share, but it opened at $35 and closed its first days trading at $36. Overall, the offering of 15.333 million shares was comprised of 9.977 million put on the market by the company and 5.355 million shares sold by existing stockholders. DV raised over $350 million in the offering, before expenses. Analyst Christopher Merwin initiated coverage of this stock for Goldman Sachs, and was impressed with what he saw. DoubleVerify grew revenue 75% y/y in 2019 and 34% y/y in 2020. 2019 strength was driven by new product introduction, deepening integrations with major demand side platforms including The Trade Desk, Google and Amazon, as well competitive share gains. Given DoubleVerifys transaction based revenue model, the company is dependent on sustained growth of the overall digital ad ecosystem," Merwin noted. The analyst added, "We estimate a total of ~141 trillion ad impressions across various digital channels as of 2020, growing to~184 trillion by 2023. Based on DVs current transaction fee ranging from 6-9 cents per1,000 impressions, we estimate an overall TAM of $10bnn, growing to ~$14bnn by FY23..." In line with his bullish stance, Merwin rates DV a Buy, and his $47 price target implies room for a 57% upside potential in the next 12 months. (To watch Merwins track record, click here) This newly public stock has attracted plenty of attention in its first few weeks on the markets; no fewer than 11 analysts have weighed in, and their opinions break down 8 to 3 in favor of the Buys versus the Holds, for a Moderate Buy consensus rating. DV shares are currently trading for $29.92 and have an average price target of $39, giving the stock a 30% one-year upside potential. (See DV stock analysis on TipRanks) Zymergen (ZY) Well wrap up with a company that has take a unique approach to the green economy. Zymergen describes itself as a biofacturing company, which creates new modes of manufacturing a wide range of products, from electronics, to personal care and hygiene, to agricultural technology all with an eye toward both using and protecting the natural world. Zymergen took its business public in April, holding its IPO on the 22 of that month. The firm raised over $500 million and put over 18.5 million shares into circulation. The companys IPO took place just four months after the public launch of the companys first commercial product, Hyaline, a polymer film for use in electronic displays. Covering the stock for Goldman Sachs, analyst Matthew Sykes writes of the companys potential: The key to the equity story for ZY is first to validate their synthetic biology development and platform through the successful commercial launch and shipments of their first product Hyaline in Q1 of 2022. Subsequently, ZY will need to follow-on with additional products in the electronic films space effectively demonstrating the speed and scale at which they can develop and roll-out products faster and cheaper than those made through the traditional, petrochemical process. Demonstrating the value of the platform and diversifying their revenue base across multiple product lines and end markets will be key to establishing the sustainability and competitive advantages of the business model. Sykes clearly sees Zymergen as capable of meeting that potential, and gives the stock a Buy rating with a $55 price target to suggest an upside of 52% in the next 12 months. (To watch Sykes track record, click here) Sometimes, a new stock hits all the right buttons and Zymergen has done that for Wall Streets analysts. The consensus here is unanimous, with 5 positive reviews backing a Strong Buy rating. The $48.50 average price target implies ~33% upside from the $36.59 trading price. (See Zymergen stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Big money investors suggest the cycle has peaked: Morning Brief - Yahoo Finance

Bloomberg

(Bloomberg) -- The worlds top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out of the market.Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new plants elsewhere. Its also established a trading team to compete in the nascent spot market and pushing into Asia more aggressively, according to people familiar with the matter.The strategy marks a shift for Qatar, which has barely raised production in the past five years and traditionally prioritized prices over market share. Increased competition, especially from the U.S. and Australia, has forced the Persian Gulf state to become more nimble and attract buyers in Asia, a hot spot for gas demand.The global transition to renewable energy is adding to the countrys sense of urgency. While LNG was until recently touted as a bridge from coal and oil to the likes of solar and wind power, its falling out of favor with some governments as they step up efforts to slow climate change.Qatars expansion plan is so huge that there are questions on the need for other supply options, said Julien Hoarau, head of EnergyScan, the analytics unit of the French utility Engie SA. Its still the number one, but the U.S. has never been so close, so Qatar needed to move if it wanted to keep its leading position.The U.S. came close to overtaking Qatars monthly exports for the first time in April, while Australia has been neck-in-neck with the Middle Eastern nation for the last year, according to ship-tracking data compiled by Bloomberg. As Gulf Coast projects develop, the U.S. is slated to briefly become the worlds top supplier by 2024, before Qatar regains that status later in the decade, according to data from BloombergNEF.Several factors are playing into Qatars hands. China, one of the fastest growing LNG markets, has been reluctant to import more from the U.S. or Australia due to trade and geopolitical tensions.But Qatars main advantage is that it has the worlds lowest production costs thanks to an abundance of easy-to-extract gas, most of it contained in the giant North Field that extends into Iran.Bonds ComingQatars state energy company, which may soon sell up to $10 billion of bonds to fund the gas expansion, said the project will be viable even with oil at $20 a barrel, 70% less than current levels. LNG contracts are typically linked to oil.Thats enabling Qatar Petroleum to set pricing below what other exporters can manage, according to traders. The firm has sold LNG in recent months at around 10% of Brent crude prices, including to China and Pakistan, whereas it used to set the level at 15%.Nobody can compete with Qatari costs, said Jonathan Stern, a senior research fellow at the Oxford Institute of Energy Studies. They can do whatever they like and everybody will have to respond the way they can. And, especially when the market is in surplus and prices are low, that will impact the competitions profits.QP executives have jetted across Asia over the past few months to ink export deals. Their efforts led in March to a 10-year contract with Beijing-based Sinopec, signed at 10%-10.19% of Brent.Qatars Ministry of Energy and QP didnt respond to requests for comment.A few years ago, demand for LNG was projected to rise steeply over the coming decades. Gas emits less carbon dioxide than most other fossil fuels when its burned, while renewable-energy projects were still too expensive to power electricity grids, factories and transport on a mass scale.But solar and wind technology is improving faster than expected, helped in part by massive government green-spending programs triggered by the coronavirus pandemic.Were Not AfraidEven as Qatar seeks to make the most of its assets, there are obstacles to it reaching total domination. Many buyers want a diverse group of suppliers. Russias Yamal LNG project and the planned Arctic LNG 2 plant, led by Novatek PJSC, are among those that will remain competitive as Qatar ramps up exports, according to analysts at Citigroup Inc.The biggest U.S. LNG exporter, Cheniere Energy Inc., said its unperturbed by Qatars moves. Some importers are attracted by American firms offering more flexible delivery terms and pricing thats not tied to oil, which has soared almost 30% this year.Were not afraid, Chenieres Chief Commercial Officer Anatol Feygin told investors this month. Were part of a sort of diversification of the supply and contracting structure along with Qatar Petroleum and our friends at Novatek.Yet U.S. projects are among those most likely to struggle. At least 10, five of them in Texas and four in Louisiana, probably wont secure enough financing to be completed, according to analysis from BloombergNEF.Feedstock costs are part of the problem. American companies have to buy gas at around $2.50 per million British thermal units, way above Qatars wellhead prices of $0.30 or lower.New suppliers in the U.S. need spot LNG prices to be at least $7.80 per million Btu in Asia and $6.80 in Europe, said David Thomas, an independent adviser and former head of LNG at Vitol, the worlds largest independent oil trader. For comparison, Asian rates have averaged about $6.80 over the last five years. The economics for producers in Australia and Africa are similar, Thomas said.The Qatari strategy appears to be maintaining its global market share and also maximizing sales, before the gas market starts to shrink, OIESs Stern said. It is a competitive and strategic rush. They recognize LNG demand will eventually decline as the world moves forward in the energy transition.(Updates with export forecast in sixth paragraph.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2021 Bloomberg L.P.

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Tesla already 'biggest short in the market' as Burry piles on: S3 Partners - Yahoo Finance

Ellen DeGeneres is ending her eponymous daytime talk show after nearly two decades.

DeGeneres, who discussed the show's ending with fellow daytime legend Oprah Winfrey on Thursday, said that although she feels like it was "the right thing to do... it's a weird thing to announce that I'm stopping."

The long-running chat fest, much like the rest of Hollywood these days, has been clouded in controversy after allegations of a "toxic work environment" behind the scenes exploded on social media last year.

Ellen doubled down on her claim that it is not the controversy that's driving her exit, but rather the lack of a "challenge," explaining that "there's just different things as a creative person that I feel like I need to do."

LOS ANGELES - MAY 4: The Late Late Show with James Corden airing Tuesday, May 4, 2021, with guest Ellen DeGeneres. (Photo by Terence Patrick/CBS via Getty Images)

"The Ellen Show" is not the only long-running program to be exiting our TV screens. E!s long-running reality unicorn Keeping Up with the Kardashians" is in the midst of its final season after 14 years on air.

So is this the end of peak TV as we know it? Not entirely, according to one media expert.

"These shows ending are significant because they are different kinds of programming that have been around for a long time in various ways and various degrees," University of Wisconsin - Milwaukee Professor Elana Levine told Yahoo Finance.

"But in terms of the pure amount and quantity of television, I'm not so sure we're going down. If anything, I think we're expanding as more and more streaming platforms come to pass," she added.

Levine contends that although quantity has not diminished, there has been "a shift" in programming, particularly around traditional cable television.

"Weve seen some shifts away from traditional broadcast TV and cable TV the last 5 years or so as streaming becomes more prominent," Levine explained, and that's given streamers greater access.

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"As of now there is still an audience for conventional kinds of cable but more and more people are accessing programming in other ways. That's what seems to be changing most dramatically," she said,

Traditional cable companies like Discovery, Paramount (VIAC) and NBC (CMCSA) have all started their own streaming services as a supplemental way for consumers to access content but not as a replacement.

"These networks are finding ways to reach audiences with some of the same programming that they've long had, but they're now doing it in the new ways that people are accessing TV," the expert said.

Streaming, which quickly accelerated at the start of the pandemic, has somewhat slowed as the economy reopens.

Disney (DIS), for example, added 8.7 million subscribers in the first three months of the year, bringing its total Disney+ subscriber sum to 103.6 million, slightly shy of what Wall Street was hoping for.

In the face of Ellen DeGeneres' departure, fans have questioned the future of daytime TV in a world dominated by streaming.

"The end of Ellen's show does not necessarily mean that daytime talk shows are going away," Levine argued, referencing the success of Kelly Clarkson's and Drew Barrymore's daytime programs.

"Throughout its whole history, television has seen changes come and the changes are usually more gradual than they are drastic and I think that we're still in the midst of that transition now," Levine explained.

"But the kind of programs that people are drawn to don't change that drastically over time. People still like to watch a lot of the same kinds of things," she added.

"We will see those forms change but i don't think that anything will be disappearing any time soon," Levine said.

Alexandra is a Producer & Entertainment Correspondent at Yahoo Finance. Follow her on Twitter @alliecanal8193

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What 'The Ellen Show's' exit says about the future of TV, talk shows - Yahoo Finance

The coronavirus pandemic driven boom for new homes and the aggressive remodeling of existing ones by homeowners during quarantine continues to put serious upward pressure on prices for everything from plywood to copper pipes at the major home improvement retailers.

"Similar to what we reported in our previous three quarters, the growth in our comp average ticket was driven by elevated project demand, customers trading up to new and innovative products and continued inflation in many product categories including lumber," Home Depot President and COO Ted Decker told analysts on an earnings conference call Tuesday. "This was another record-setting quarter for lumber prices. Let me give you an example of what that means for one of our core lumber SKUs [stock keeping units]. At the end of the first quarter last year, a sheet of seven sixteenths OSB [or plywood] was approximately $9.55. As we exited the first quarter of this year, that same sheet of OSB more than quadrupled in price to $39.76."

Lumber prices have skyrocketed 127% this year amid the demand boom. Copper prices are up about 32%. Steel prices used in products such as power tools has gained more than 30% in 2021.

Power tool giant Stanley Black & Decker is looking at a $235 million hit to profits this year due to inflation in steel and other commodities, CEO James Loree told Yahoo Finance Live.

A construction worker buys lumber for home framing at the Home Depot store. (Photo by Kevork Djansezian/Getty Images)

Inflationary pressures ultimately helped pump up Home Depot's sales and profits in the first quarter.

Home Depot said first quarter same-store sales surged 31%. Same-store sales in the U.S. rose 29.9%. Operating profits exploded 76.5% from a year ago.

Said Home Depot's Decker on the impact of inflation on sales, "Inflation from core commodity categories positively impacted our average ticket growth by approximately 375 basis points during the first quarter." Home Depot's customer transactions and average ticket increased 19.3% and 10.3%, respectively.

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Here's how Home Depot performed relative to Wall Street estimates for the first quarter. Clearly, analysts were unable to accurately model for inflation effects on Home Depot's top and bottom lines.

Net Sales: $37.50 billion vs. $34.86 billion

Same-Store Sales: +31% vs. +20%

Diluted EPS: $3.86 vs. $3.06

Home Depot shares rose slightly to $320 in Tuesday's session.

Analysts generally think inflationary pressures will cool down for home improvement retailers in coming quarters. While that could mean less eye-popping sales and earnings beats, most on the Street agree the fundamentals remain strong for the likes of Home Depot and its smaller rival Lowe's.

"Home Depot is a beneficiary of a healthy consumer that is committed to repair and remodeling projects. Pro-focused initiatives, enhanced e-commerce, optimized labor, and services will drive near-term results, with supply chain fortifying LT dominance," said Jefferies analyst Jonathan Matuszewski in a research note to clients.

The analyst reiterated a Buy rating on Home Depot's stock with a $375 price target.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Home Depot Q1 sales and profits lifted by skyrocketing inflation - Yahoo Finance

Ark Investment Management CEO Cathie Wood said in a Bloomberg TV interview that bitcoin will go to $500,000 despite the largest cryptocurrency plunging to a low of almost $30,000 on Wednesday.

Wood said on Wednesday that bitcoin is on sale now and said that even after todays drop, the cryptocurrency is not necessarily at a bottom. She describes the market as emotional and says it is difficult to call the bottom.Bitcoin fell for a fifth-straight day, putting the largest cryptocurrency on track for its worst month in more than three years.During the interview, Wood briefly addressed Tesla CEO Elon Musks environmental concerns on bitcoin mining, explaining that the adoption of solar energy in mining will accelerate dramatically.Wood said the prospects for a bitcoin exchange-traded fund approval in the U.S. this year have now increased because of the recent plunge in price. The odds are going up now that we have had this correction, she said.At press time Wednesday, bitcoin was changing hands at around $40,753, a steep drop from the cryptocurrencys all-time high of $64,829.14 set in April.Earlier this month, Wood announced she had joined the board of Amun Holdings, the parent company of 21Shares, a Swiss-based firm that offers exchange-traded products that give investors an easy to way to gain exposure to crypto.

Consensus 2021: Cathie Wood will be speaking at Consensus by CoinDesk, our virtual experience May 24-27. Register here.

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Ark Investments Cathie Wood Says Bitcoin Will Go to $500,000 - Yahoo Finance

Bloomberg

(Bloomberg) -- The worlds top exporter of liquefied natural gas is ramping up production dramatically and undercutting competitors in a bid to squeeze them out of the market.Qatar is dropping prices and pushing ahead with a $29 billion project to boost its exports of the fuel by more than 50%, stymieing the prospects of new plants elsewhere. Its also established a trading team to compete in the nascent spot market and pushing into Asia more aggressively, according to people familiar with the matter.The strategy marks a shift for Qatar, which has barely raised production in the past five years and traditionally prioritized prices over market share. Increased competition, especially from the U.S. and Australia, has forced the Persian Gulf state to become more nimble and attract buyers in Asia, a hot spot for gas demand.The global transition to renewable energy is adding to the countrys sense of urgency. While LNG was until recently touted as a bridge from coal and oil to the likes of solar and wind power, its falling out of favor with some governments as they step up efforts to slow climate change.Qatars expansion plan is so huge that there are questions on the need for other supply options, said Julien Hoarau, head of EnergyScan, the analytics unit of the French utility Engie SA. Its still the number one, but the U.S. has never been so close, so Qatar needed to move if it wanted to keep its leading position.The U.S. came close to overtaking Qatars monthly exports for the first time in April, while Australia has been neck-in-neck with the Middle Eastern nation for the last year, according to ship-tracking data compiled by Bloomberg. As Gulf Coast projects develop, the U.S. is slated to briefly become the worlds top supplier by 2024, before Qatar regains that status later in the decade, according to data from BloombergNEF.Several factors are playing into Qatars hands. China, one of the fastest growing LNG markets, has been reluctant to import more from the U.S. or Australia due to trade and geopolitical tensions.But Qatars main advantage is that it has the worlds lowest production costs thanks to an abundance of easy-to-extract gas, most of it contained in the giant North Field that extends into Iran.Bonds ComingQatars state energy company, which may soon sell up to $10 billion of bonds to fund the gas expansion, said the project will be viable even with oil at $20 a barrel, 70% less than current levels. LNG contracts are typically linked to oil.Thats enabling Qatar Petroleum to set pricing below what other exporters can manage, according to traders. The firm has sold LNG in recent months at around 10% of Brent crude prices, including to China and Pakistan, whereas it used to set the level at 15%.Nobody can compete with Qatari costs, said Jonathan Stern, a senior research fellow at the Oxford Institute of Energy Studies. They can do whatever they like and everybody will have to respond the way they can. And, especially when the market is in surplus and prices are low, that will impact the competitions profits.QP executives have jetted across Asia over the past few months to ink export deals. Their efforts led in March to a 10-year contract with Beijing-based Sinopec, signed at 10%-10.19% of Brent.Qatars Ministry of Energy and QP didnt respond to requests for comment.A few years ago, demand for LNG was projected to rise steeply over the coming decades. Gas emits less carbon dioxide than most other fossil fuels when its burned, while renewable-energy projects were still too expensive to power electricity grids, factories and transport on a mass scale.But solar and wind technology is improving faster than expected, helped in part by massive government green-spending programs triggered by the coronavirus pandemic.Were Not AfraidEven as Qatar seeks to make the most of its assets, there are obstacles to it reaching total domination. Many buyers want a diverse group of suppliers. Russias Yamal LNG project and the planned Arctic LNG 2 plant, led by Novatek PJSC, are among those that will remain competitive as Qatar ramps up exports, according to analysts at Citigroup Inc.The biggest U.S. LNG exporter, Cheniere Energy Inc., said its unperturbed by Qatars moves. Some importers are attracted by American firms offering more flexible delivery terms and pricing thats not tied to oil, which has soared almost 30% this year.Were not afraid, Chenieres Chief Commercial Officer Anatol Feygin told investors this month. Were part of a sort of diversification of the supply and contracting structure along with Qatar Petroleum and our friends at Novatek.Yet U.S. projects are among those most likely to struggle. At least 10, five of them in Texas and four in Louisiana, probably wont secure enough financing to be completed, according to analysis from BloombergNEF.Feedstock costs are part of the problem. American companies have to buy gas at around $2.50 per million British thermal units, way above Qatars wellhead prices of $0.30 or lower.New suppliers in the U.S. need spot LNG prices to be at least $7.80 per million Btu in Asia and $6.80 in Europe, said David Thomas, an independent adviser and former head of LNG at Vitol, the worlds largest independent oil trader. For comparison, Asian rates have averaged about $6.80 over the last five years. The economics for producers in Australia and Africa are similar, Thomas said.The Qatari strategy appears to be maintaining its global market share and also maximizing sales, before the gas market starts to shrink, OIESs Stern said. It is a competitive and strategic rush. They recognize LNG demand will eventually decline as the world moves forward in the energy transition.(Updates with export forecast in sixth paragraph.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2021 Bloomberg L.P.

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Discovery with AT&T's media assets will put pressure on Netflix, others: analyst - Yahoo Finance

The Telegraph

The second major of the year gets underway at Kiawah Island Resort's Ocean Course on Thursday, featuring a total of 156 professional players, including 99 of the world's top 100. The longest course in championship history has dominated the build-up, with the Pete Dye-designed layout on South Carolina's Atlantic coast capable of playing to a maximum of 7,876 yards. Who will hold their nerve to triumph over the next four days? Tee-times for the first round today can be found below (all times BST; all players USA unless stated). Starting at hole 1 12.00 Patrick Rada (CP), Cameron Tringale, Adam Long 12.11 Matt Jones (Aus), Larkin Gross (CP), Dylan Frittelli (Rsa) 12.22 George Coetzee (Rsa), Derek Holmes (CP), Byeong Hun An (Kor) 12.33 Tom Hoge, Bernd Wiesberger (Aut), Joel Dahmen 12.44 Jimmy Walker, John Daly, Jason Dufner 12.55 Martin Laird (Sco), Kevin Kisner, Hudson Swafford 13.06 Henrik Stenson (Swe), Danny Willett (Eng), Bubba Watson 13.17 Martin Kaymer (Ger), Charl Schwartzel (Rsa), Keegan Bradley 13.28 Stewart Cink, Alex Noren (Swe), Harris English 13.39 Jason Kokrak, Kevin Na, Tom Lewis (Eng) 13.50 Stuart Smith (CP), Emiliano Grillo (Arg), Jason Scrivener (Aus) 14.01 Peter Malnati, Brad Marek (CP), Lanto Griffin 14.12 Rikuya Hoshino (Jpn), Denny McCarthy, Mark Geddes (Eng) (CP) 17.30 Frank Bensel Jr (CP), Robert Streb, Kurt Kitayama 17.41 Wyndham Clark, Daniel van Tonder (Rsa), Alex Beach (CP) 17.52 Abraham Ancer (Mex), Sam Burns, Max Homa 18.03 Corey Conners (Can), Matt Fitzpatrick (Eng), Tony Finau 18.14 Phil Mickelson, Padraig Harrington (Irl), Jason Day (Aus) 18.25 Patrick Reed, Jon Rahm (Esp), Tommy Fleetwood (Eng) 18.36 Gary Woodland, Cameron Smith (Aus), Justin Rose (Eng) 18.47 Daniel Berger, Steve Stricker, Billy Horschel 18.58 Webb Simpson, Jordan Spieth, Will Zalatoris 19.09 Shane Lowry (Irl), Dustin Johnson, Sergio Garcia (Esp) 19.20 Patrick Cantlay, Matt Kuchar, Thomas Pieters (Bel) 19.31 Cam Davis (Aus), Pete Ballo (CP), Chris Kirk 19.42 KH Lee (Kor), Dean Burmester (Rsa), Greg Koch (CP) 'A diabolical test': Beastly Kiawah Island awaits world's elite at USPGA Championship Starting at hole 10 12.05 Harry Higgs, Ben Polland (CP), Talor Gooch 12.16 Harold Varner III, Rob Labritz (CP), Brendan Steele 12.27 Marc Leishman (Aus), Garrick Higgo (Rsa), Paul Casey (Eng) 12.38 Adam Scott (Aus), Tyrrell Hatton (Eng), Rickie Fowler 12.49 John Catlin, Robert MacIntyre (Sco), Cameron Champ 13.00 Francesco Molinari (Ita), Zach Johnson, Scottie Scheffler 13.11 Thomas Detry (Bel), Ryan Palmer, Louis Oosthuizen (Rsa) 13.22 Lee Westwood (Eng), Xander Schauffele, Viktor Hovland (Nor) 13.33 Rory McIlroy (NIrl), Brooks Koepka, Justin Thomas 13.44 Collin Morikawa, Hideki Matsuyama (Jpn), Bryson DeChambeau 13.55 Matt Wallace (Eng), Erik van Rooyen (Rsa), Charley Hoffman 14.06 Brian Gay, Brett Walker (CP), Chan Kim (Kor) 14.17 Sonny Skinner, Aaron Wise, Kalle Samooja (Fin) 17.25 Si Woo Kim (Kor), Danny Balin (CP), Jim Herman 17.36 Sami Valimaki (Fin), Richy Werenski, Joe Summerhays (CP) 17.47 Tim Pearce (CP), Sam Horsfield (Eng), Sebastian Munoz (Col) 17.58 Rich Beem, YE Yang (Kor), Shaun Micheel 18.09 Joaquin Niemann (Chl), JT Poston, Aaron Rai (Eng) 18.20 Adam Hadwin (Can), Branden Grace (Rsa), Rasmus Hojgaard (Den) 18.31 Carlos Ortiz (Mex), Jazz Janewattananond (Tha), Russell Henley 18.42 Kevin Streelman, Andy Sullivan (Eng), Christiaan Bezuidenhout (Rsa) 18.53 Ian Poulter (Eng), Sungjae Im (Kor), Brian Harman 19.04 Antoine Rozner (Fra), Brandon Stone (Rsa), Chez Reavie 19.15 Omar Uresti (CP), Maverick McNealy, Victor Perez (Fra) 19.26 Lucas Herbert (Aus), Tyler Collet (CP), Brandon Todd 19.37 Takumi Kanaya (Jpn), Ben Cook (CP), Mackenzie Hughes (Can)

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Fantasy Baseball: Which starting pitchers should we believe in or fade? - Yahoo Sports

(Bloomberg) -- Billionaire George Soross investment firm snapped up shares of ViacomCBS, Discovery and Baidu as they were being sold off in massive blocks during the collapse of Bill Hwangs Archegos Capital Management.

Soros Fund Management bought $194 million of ViacomCBS Inc., Baidu Inc. stock valued at $77 million, as well $46 million of Vipshop Holdings Ltd. and $34 million of Tencent Music Entertainment Group during the first quarter, according to a regulatory filing released Friday. A person familiar with the funds trading said the company didnt hold the shares prior to Archegoss implosion.

Archegos, the family office of former hedge fund manager Hwang, fell apart during the last week of March after amassing large leveraged positions in a concentrated portfolio of U.S. and Chinese companies. At its peak, the family office had more than $20 billion of capital and total bets exceeding $100 billion.

Hwang was wiped out in just days after investments including ViacomCBS and Discovery tumbled, triggering margin calls from global banks, who then sold the stocks in the big block trades. The fiasco is expected to cost the finance industry about $10 billion, has prompted an investigation by the U.S. Securities and Exchange Commission and caused heads to roll at Credit Suisse Group AG, where the hit exceeds $5 billion.

The 13F filing provides one of the first examples of how a hedge fund attempted to capitalize on the distressed remains of Archegos. It also offers an insight into Soross investment firm, which is run by Chief Investment Officer Dawn Fitzpatrick.

She told Bloomberg in March that she was willing to jump on dislocations in the market, investing $4 billion during the pandemic-induced swoon a year ago, including buying residential mortgages on the cheap. Soros returned almost 30% in the 12 months through February and manages $27 billion across a range of strategies.

When theres a dislocation, were prepared to not just double down but triple down when the facts and circumstances support that, Fitzpatrick, 51, said in a Front Row interview on Bloomberg TV.

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Soros also increased its bet on Amazon.com Inc. and homebuilder DR Horton Inc., which is now its second-largest public equity position.

The 13F, which money managers overseeing more than $100 million in U.S. equities must file quarterly, revealed that Soros held $4.5 billion of U.S. equities, down $77 million from the prior quarter.

The biggest exit in the quarter was Palantir Technologies Inc. Soros sold 18.5 million shares valued at about $435 million. The firm originally revealed it owned a stake in the controversial data-mining company controlled by Peter Thiel in November, but rapidly issued a statement saying the original investment was made in 2012 and it regretted the decision.

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