RBC Capital Markets supports IG Group's recent acquisition of Underdog, dismissing the market's sharp selloff as an overreaction focused too much on regulatory risks. The deal significantly expands IG's US presence, increasing customer numbers tenfold and more than doubling US revenues, with 25% of pro forma revenue from daily fantasy sports and prediction markets. RBC highlights the attractive valuation paid and notes that half the deal's value depends on earnings, which mitigates regulatory uncertainty expected to be resolved by the US Supreme Court within 24 months. Management plans to leverage the upcoming NFL season for customer growth, with a shift to profitability expected in 2027. RBC maintains an outperform rating and a 1,850p price target, implying 39% upside from current levels.
Two directors of Equitable Holdings sold shares recently, with Bertram L. Scott selling 2,780 shares and Craig C. MacKay selling 2,000 shares. Meanwhile, institutional investors showed mixed activity: Engineers Gate Manager LP drastically cut its hol...
Shares of Greenland-linked mining companies surged following a new U.S.-Denmark-Greenland security agreement that boosted investor interest in Greenland's mineral resources. Greenland Mines Ltd. jumped over 229%, while Critical Metals Corp. rose near...
Biotech stocks and leveraged ETFs were the biggest losers in the market, with Cue Biopharma dropping 23.7% despite positive Phase 2 clinical results. Leveraged ETFs tied to AMD, Strategy, and Novo Nordisk also saw sharp declines due to their daily-re...
Priority Technology Holdings is being taken private in a $1.6 billion deal led by its Chairman and CEO, Thomas Priore. The acquisition price is $8.05 per share, matching the analyst price target set by Lake Street, which downgraded the stock to 'Hold...
General Mills is set to report its Q3 2026 earnings with an expected 16.3% decline in earnings per share to $0.72 and revenue forecast around $4.35 billion, down from last year. Despite these declines, the company reaffirmed its full-year adjusted EP...
