Most firms that went public via SPAC ‘should be deemed uninvestable’

Famed short-seller Carson Block raised the alarm on special purpose acquisition companies (SPAC) at the height of their activity, building his bets while warning retail investors about “a scam” in the market. Now, the CEO of investment research firm Muddy Waters Capital is starting to see the reckoning. Since raising a record $144 billion through 613 blank check IPOs last year, investors have begun to turn on these companies, in the face of poor returns and choppy market conditions. From… Source link

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Jim Harbaugh did what he set out to do at Michigan

On the National Signing Days of 2016 and 2017, Michigan football coach Jim Harbaugh presided over an event he’d created — “Signing with the Stars.” It was part unveiling of the high school recruits who would play for the Wolverines — prospects such as Rashan Gary, Devin Bush and Donovan Peoples-Jones. Mostly, though, it was a celebration of Michigan football and the carnival barking of Harbaugh hopefully gaining the attention of future recruits. He was newly arrived in Ann Arbor and… Source link

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Nasdaq Rises on Google Earnings, Stock Split as Other Indexes Waver

Tech stocks on the Nasdaq are rising, led by big gains from shares of Google parent Alphabet Inc. (GOOG) after the company posted strong earnings and announced a 20-for-1 stock split. The Dow Jones wavered and S&P 500 gained.  The indexes rose yesterday in another choppy day of trading, as markets reacted to earnings. So far, more than 36% of the S&P 500 companies have reported results, with more than 78% topping analyst expectations. Among the companies reporting earnings today… Source link

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Google parent Alphabet posts surge in search advertising revenue

Shares in Alphabet soared nearly 8 per cent on Wednesday, pushing the company’s market cap back towards $2tn after an unexpectedly strong surge in search advertising revenue raised Wall Street’s hopes that its momentum would continue as the coronavirus pandemic recedes. The Google parent had announced its earnings on Tuesday alongside a rare 20-for-1 stock split, only the second time it has split its shares since going public in 2004, adding to the stock market enthusiasm that… Source link

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Crypto salaries are on the rise, but there are pros and cons

When bitcoin and ethereum rallied to records in November on news of wider adoption, politicians and athletes scrambled to ride the momentum by announcing they’d collect parts of their salary in crypto. Among them were New York City Mayor Eric Adams, who vowed after his election that he’d accept his first three paychecks in bitcoin, and wide receiver Odell Beckham Jr., who opted to take his entire NFL salary in the token after signing a new contract with the Los Angeles Rams. But the… Source link

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2022 Fantasy Baseball Mock Draft: H2H categories mock using Yahoo Head-to-Head scoring

The Head-to-Head categories format, which pits two teams against each other each week while implementing 5×5 scoring rather than points, tends to be most popular on competitor sites like Yahoo but is of course also available through CBS. And it brings its own challenges that allow for distinct approaches. The quirks are worth noting upfront: two utility spots instead of one, four flex pitcher spots in addition to two SPs… Source link

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Brian Flores says lawsuit is ‘bigger than football’

Former NFL head coach Brian Flores, who on Tuesday filed a blistering racial discrimination lawsuit against the NFL, the Miami Dolphins, the New York Giants and the Denver Broncos, spoke out for the first time since taking legal action in an interview with “CBS Mornings” on Wednesday.  With lawyers Doug Wigdor and John Elefterakis at his side, Flores spoke to a roundtable of “CBS Mornings” hosts, which included former NFL player Nate Burleson. Flores thanked everyone who had reached out to… Source link

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Google Maps review moderation detailed as Yelp reports thousands of violations

Google explains how it keeps user-created reviews on Google Maps free of fraud and abuse in a new blog post and accompanying video. Like many platforms dealing with moderation at scale, Google says it uses a mix of automated machine learning systems as well as human operators. The details come amidst growing scrutiny of user reviews on sites like Google Maps and Yelp, where businesses have been hit with bad reviews for implementing COVID-related health and safety measures (including mask… Source link

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Commanders announced as Washington’s new team name

After a renaming process that took 18 months and two full NFL seasons, the team formerly known as the Washington Football Team introduced its new nickname on Wednesday: the Commanders.  In an interview on “The Today Show,” team president Jason Wright introduced the new name and the logo, which was also shared on social media. Shop New Washington Commanders Team Gear Click Here >> The Commanders, using their brand new Twitter account @Commanders, released a video that will get fans truly… Source link

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Private payrolls fell by 301,000 in January: ADP

Private payrolls unexpectedly declined in January as the Omicron variant’s spread contributed to a marked weakening in the labor market at the beginning of the year. U.S. private sector employment fell by 301,000 in January, ADP said in its closely watched monthly report on Wednesday. That represented the first drop in payrolls since December 2020, and came after 776,000 payrolls were added back in December, based on ADP’s revised monthly print. Consensus economists had anticipated that about… Source link

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