Magnetic North Acquisition Corp. Announces Conditional Approval to List Series A Preferred …

Magnetic North Common Shares trade on the TSX Venture Exchange under the stock symbol MNC. For more information about Magnetic North, visit …

**Not for distribution to United States Newswire Services or release publication, distribution or dissemination, directly or indirectly, in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.**

CALGARY, Alberta and TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) — Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”) is pleased to announce that it has received conditional acceptance for the listing of the Company’s Series A Preferred Shares on the TSX Venture Exchange (the “TSXV”).

Completion of the listing is subject to certain customary conditions including the filing of final documentation with the TSXV. It is anticipated Magnetic North’s Series A Preferred Shares will trade on the TSXV under the ticker symbol “MNC.PR.A” in due course.

Andrew Osis, Co-CEO Magnetic North stated, “This is a significant milestone in Magnetic North’s history. The listing of the Series A Preferred Shares is the final step in establishing our capital structure for the benefit of our shareholders over the long-term.”

The Series A Preferred Shares are offered and sold in Canadian jurisdictions to “accredited investors” pursuant to the exemption from the prospectus requirement under Section 2.3 of National Instrument 45-106 – Prospectus Exemptions and such other exemptions from the prospectus requirements and subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSXV.

About Magnetic North Acquisition Corp.

Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success. With offices in Calgary and Toronto, our experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North Common Shares trade on the TSX Venture Exchange under the stock symbol MNC. For more information about Magnetic North, visit its website at www.magneticnac.com. Magnetic North’s securities filings can also be accessed at www.sedar.com.

For further information, please contact:

Graeme DickStephen McCormick
Investor RelationsVP, Capital Markets
403-561-8989403-619-6898
graeme@colwellcapital.comstephen@magneticnac.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this newsrelease.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

This news release contains “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. The forward-looking information in this news release includes the listing of the Series A Preferred Shares on the TSXV.

The Company has made certain material assumptions, including but not limited to assumptions with respect to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; and the ability of the Company to execute and achieve its business objectives to develop the forward-looking information in this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include but are not limited to: adverse market conditions; reliance on key and qualified personnel; and regulatory and other risks associated with the industries in which the Company’s portfolio companies operate, in general. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.

The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.


Where Does SpringWorks Therapeutics Inc (SWTX) Stock Fall in the Biotechnology Field?

Biotechnology is ranked 23 out of the 148 industries. Overall Score – 69. SWTX has an Overall Score of 69. Find out what this means to you and get the …

A rating of 85 puts SpringWorks Therapeutics Inc (SWTX) near the top of the Biotechnology industry according to InvestorsObserver. SpringWorks Therapeutics Inc’s score of 85 means it scores higher than 85% of stocks in the industry. SpringWorks Therapeutics Inc also received an overall rating of 69, putting it above 69% of all stocks. Biotechnology is ranked 23 out of the 148 industries.

Overall Score - 69
SWTX has an Overall Score of 69. Find out what this means to you and get the rest of the rankings on SWTX!

What do These Ratings Mean?

Finding the best stocks can be tricky. It isn’t easy to compare companies across industries. Even companies that have relatively similar businesses can be tricky to compare sometimes. InvestorsObserver’s tools allow a top-down approach that lets you pick a metric, find the top sector and industry and then find the top stocks in that sector.

These scores are not only easy to understand, but it is easy to compare stocks to each other. You can find the best stock in an industry, or look for the sector that has the highest average score. The overall score is a combination of technical and fundamental factors that serves as a good starting point when analyzing a stock. Traders and investors with different goals may have different goals and will want to consider other factors than just the headline number before making any investment decisions.

What’s Happening With SpringWorks Therapeutics Inc Stock Today?

SpringWorks Therapeutics Inc (SWTX) stock is trading at $55.01 as of 11:44 AM on Friday, Oct 9, an increase of $3.03, or 5.83% from the previous closing price of $51.98. The stock has traded between $52.79 and $56.45 so far today. Volume today is 339,767 compared to average volume of 364,745.

Click Here to get the full Stock Score Report on SpringWorks Therapeutics Inc (SWTX) Stock.

Bitauto Holdings Limited (BITA) and PotlatchDeltic Corporation (PCH) Presented A Bullish …

In another most recent transaction, which held on 6/30/2020, MILLENNIUM MANAGEMENT LLC bought approximately 1.3 million shares of Bitauto …

ALPINE ASSOCIATES MANAGEMENT, IN bought a fresh place in Bitauto Holdings Limited (NYSE:BITA). The institutional investor bought 1.9 million shares of the stock in a transaction took place on 6/30/2020. In another most recent transaction, which held on 6/30/2020, MILLENNIUM MANAGEMENT LLC bought approximately 1.3 million shares of Bitauto Holdings Limited In a separate transaction which took place on 6/30/2020, the institutional investor, PENTWATER CAPITAL MANAGEMENT LP bought 673.4 thousand shares of the company’s stock. The total Institutional investors and hedge funds own 29.30% of the company’s stock.

In the most recent purchasing and selling session, Bitauto Holdings Limited (BITA)’s share price decreased by -0.06 percent to ratify at $15.76. A sum of 743293 shares traded at recent session and its average exchanging volume remained at 423.86K shares. The 52-week price high and low points are important variables to concentrate on when assessing the current and prospective worth of a stock. Bitauto Holdings Limited (BITA) shares are taking a pay cut of -1.19% from the high point of 52 weeks and flying high of 64.17% from the low figure of 52 weeks.

Bitauto Holdings Limited (BITA) shares reached a high of $15.79 and dropped to a low of $15.76 until finishing in the latest session at $15.79. Traders and investors may also choose to study the ATR or Average True Range when concentrating on technical inventory assessment. Currently at 0.04 is the 14-day ATR for Bitauto Holdings Limited (BITA). The highest level of 52-weeks price has $15.95 and $9.60 for 52 weeks lowest level. The liquidity ratios which the firm has won as a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.84.

Having a look at past record, we’re going to look at various forwards or backwards shifting developments regarding BITA. The firm’s shares rose 0.13 percent in the past five business days and shrunk -0.32 percent in the past thirty business days. In the previous quarter, the stock fell -0.44 percent at some point. The output of the stock increased 56.50 percent within the six-month closing period, while general annual output gained 3.75 percent. The company’s performance is now positive at 6.20% from the beginning of the calendar year.

According to WSJ, Bitauto Holdings Limited (BITA) obtained an estimated Overweight proposal from the 3 brokerage firms currently keeping a deep eye on the stock performance as compares to its rivals. 0 equity research analysts rated the shares with a selling strategy, 2 gave a hold approach, 1 gave a purchase tip, 0 gave the firm a overweight advice and 0 put the stock under the underweight category. The average price goal of one year between several banks and credit unions that last year discussed the stock is $15.79.

PotlatchDeltic Corporation (PCH) shares on Friday’s trading session, jumped 1.24 percent to see the stock exchange hands at $43.83 per unit. Lets a quick look at company’s past reported and future predictions of growth using the EPS Growth. EPS growth is a percentage change in standardized earnings per share over the trailing-twelve-month period to the current year-end. The company posted a value of $0.26 as earning-per-share over the last full year, while a chance, will post $1.48 for the coming year. The current EPS Growth rate for the company during the year is -56.90% and predicted to reach at -20.61% for the coming year. In-depth, if we analyze for the long-term EPS Growth, the out-come was -17.90% for the past five years and the scenario is totally different as the current prediction is 5.00% for the next five year.

The last trading period has seen PotlatchDeltic Corporation (PCH) move -8.93% and 95.67% from the stock’s 52-week high and 52-week low prices respectively. The daily trading volume for PotlatchDeltic Corporation (NASDAQ:PCH) over the last session is 0.57 million shares. PCH has attracted considerable attention from traders and investors, a scenario that has seen its volume jump 25.82% compared to the previous one.

Investors focus on the profitability proportions of the company that how the company performs at profitability side. Return on equity ratio or ROE is a significant indicator for prospective investors as they would like to see just how effectively a business is using their cash to produce net earnings. As a return on equity, PotlatchDeltic Corporation (NASDAQ:PCH) produces 1.50%. Because it would be easy and highly flexible, ROI measurement is among the most popular investment ratios. Executives could use it to evaluate the levels of performance on acquisitions of capital equipment whereas investors can determine that how the stock investment is better. The ROI entry for PCH’s scenario is at 4.50%. Another main metric of a profitability ratio is the return on assets ratio or ROA that analyses how effectively a business can handle its assets to generate earnings over a duration of time. PotlatchDeltic Corporation (PCH) generated 0.80% ROA for the trading twelve-month.

Volatility is just a proportion of the anticipated day by day value extend—the range where an informal investor works. Greater instability implies more noteworthy benefit or misfortune. After an ongoing check, PotlatchDeltic Corporation (PCH) stock is found to be 3.06% volatile for the week, while 3.38% volatility is recorded for the month. The outstanding shares have been calculated 67.18M. Based on a recent bid, its distance from 20 days simple moving average is 4.81%, and its distance from 50 days simple moving average is 0.28% while it has a distance of 13.22% from the 200 days simple moving average.

The Williams Percent Range or Williams %R is a well-known specialized pointer made by Larry Williams to help recognize overbought and oversold circumstances. PotlatchDeltic Corporation (NASDAQ:PCH)’s Williams Percent Range or Williams %R at the time of writing to be seated at 5.79% for 9-Day. It is also calculated for different time spans. Currently for this organization, Williams %R is stood at 5.79% for 14-Day, 19.73% for 20-Day, 44.47% for 50-Day and to be seated 22.62% for 100-Day. Relative Strength Index, or RSI(14), which is a technical analysis gauge, also used to measure momentum on a scale of zero to 100 for overbought and oversold. In the case of PotlatchDeltic Corporation, the RSI reading has hit 57.22 for 14-Day.

Triple-S Management Corp. (NYSE:GTS) Sees Large Drop in Short Interest

AQR Capital Management LLC now owns 303,530 shares of the company’s stock valued at $4,280,000 after acquiring an additional 54,396 shares in …

Triple-S Management logoTriple-S Management Corp. (NYSE:GTS) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,580,000 shares, a decrease of 9.2% from the August 31st total of 1,740,000 shares. Based on an average trading volume of 128,500 shares, the short-interest ratio is currently 12.3 days. Approximately 7.0% of the company’s shares are short sold.

GTS opened at $18.89 on Friday. The firm has a 50 day moving average price of $18.61 and a 200 day moving average price of $17.50. The company has a market cap of $442.74 million, a PE ratio of 10.05 and a beta of 0.78. Triple-S Management has a 1 year low of $9.13 and a 1 year high of $21.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.54 and a current ratio of 0.54.

Triple-S Management (NYSE:GTS) last posted its earnings results on Thursday, August 6th. The company reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.50. The firm had revenue of $875.46 million during the quarter. Triple-S Management had a net margin of 1.30% and a return on equity of 8.08%. On average, sell-side analysts predict that Triple-S Management will post 2.9 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. ValuEngine lowered shares of Triple-S Management from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 15th. TheStreet lowered shares of Triple-S Management from a “b-” rating to a “c+” rating in a report on Tuesday, September 8th.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Triple-S Management by 95.9% during the 1st quarter. JPMorgan Chase & Co. now owns 390,048 shares of the company’s stock worth $5,499,000 after purchasing an additional 190,940 shares in the last quarter. Geode Capital Management LLC grew its position in Triple-S Management by 9.8% in the first quarter. Geode Capital Management LLC now owns 332,226 shares of the company’s stock valued at $4,684,000 after acquiring an additional 29,783 shares in the last quarter. AQR Capital Management LLC grew its position in Triple-S Management by 21.8% in the first quarter. AQR Capital Management LLC now owns 303,530 shares of the company’s stock valued at $4,280,000 after acquiring an additional 54,396 shares in the last quarter. Invesco Ltd. grew its position in Triple-S Management by 34.0% in the first quarter. Invesco Ltd. now owns 187,334 shares of the company’s stock valued at $2,641,000 after acquiring an additional 47,541 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Triple-S Management by 49.9% in the second quarter. Russell Investments Group Ltd. now owns 171,079 shares of the company’s stock valued at $3,239,000 after acquiring an additional 56,984 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

About Triple-S Management

Triple-S Management Corporation, through its subsidiaries, provides a portfolio of managed care and related products in the commercial, Medicare Advantage, and Medicaid markets. It operates through three segments: Managed Care, Life Insurance, and Property and Casualty Insurance. The company offers various managed care products, including health maintenance organization plans; preferred provider organization plans; BlueCard program; Medicare Supplement products; Medicare Advantage products; Medicaid plans; and claims processing and other administrative services to employers, professional and trade associations, individuals, and government entities.

Read More: How to Profit and Limit Losses With Stop Orders

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

12 Cheap Dividend Stocks to Buy Today

While COVID-19 was a suckerpunch to the stock market earlier in the year, the stock market is roaring back. The Dow is hovering around 27,000 and the S&P 500 is trading near 3,200. S&P 500 stocks are trading at nearly 23 times their annual earnings, still well above historical norms.

At the same time, interest rates are near all-time lows (and probably dipping even lower). 10-year Treasuries are yielding just 0.9% and collectively S&P 500 stocks are yielding under 2%. Some investors think that it’s too challenging to find safe and affordable securities that pay 4%, 5%, and even 6% yields.

Searching for yield isn’t easy in an environment where historically high asset prices and stimulus from the Fed have driven down yields. This doesn’t leave many options for investors looking for retirement income or a decent dividend yield on their stocks, but there are a handful of cheap dividend stocks to buy that are still yielding 3-6%.

Let’s review some of the best cheap dividend stocks in the market today in this slideshow.

View the “12 Cheap Dividend Stocks to Buy Today”.

RIL gets over Rs 32000 cr in a month; check who invested how much in Reliance Retail so far

… TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures, for a total consideration of 32.97 per cent stake.

RIL, Mukesh Ambani, Reliance retailRIL, Mukesh Ambani, Reliance retailRIL, just this week so far, has announced five such equity investment deals for Reliance Retail. Image: Reuters

Reliance Retail has got two more global investors putting in Rs 7,350 crore for a total of 1.6 per cent equity stake. Singapore’s sovereign wealth fund GIC will invest Rs 5,512.5 crore to buy 1.22 per cent share in Reliance Retail while global investment firm TPG will invest Rs 1,837.5 crore to buy 0.41 per cent equity stake, Reliance Industries Ltd said in separate announcements on Friday-Saturday midnight. RIL, just this week so far, has announced five such equity investment deals for Reliance Retail.

GIC and TPG investment announcements follow similar investment deals with Abu Dhabi sovereign wealth fund Mubadala Investment Co, Silver Lake, KKR and General Atlantic. The GIC and TPG investments value Reliance Retail Ventures Ltd (RRVL) at a pre-money equity value of Rs 4.285 lakh crore. Oil-to-telecom conglomerate RIL, in less than a month, has sold 7.28 per cent stake in its retail business for Rs 32,197.5 crore.

Who invested how much in Reliance Retail so far

Reliance Industries has received investment from half a dozen global firms including Silver Lake, KKR, General Atlantic, Mubadala. On September 9, Silver Lake announced an investment of Rs 7,500 for 1.75 per cent equity stake. On September 23, RIL announced Rs 5,550 crore investment from KKR for 1.28 per cent share in Reliance Retail. However, since September 30, RIL has received five back to back investments from General Atlantic, Silver Lake co-investors, Mubadala, GIC and TPG for an exchange of 0.84 per cent, 0.38 per cent, 1.40 per cent, 1.22 per cent and 0.41 per cent stake, respectively.

RIL raised Rs 1.52 lakh crore from similar investments into Jio Platforms

This year in August, Reliance Retail had acquired Kishore Biyani’s Future Group’s retail, logistics, warehousing and wholesale businesses for around Rs 24,713 crore. Before Retail Retail, RIL had raised about Rs 1.52 lakh crore for Jio Platforms from global investors, including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures, for a total consideration of 32.97 per cent stake.

Reliance Jio Platforms vs Reliance Retail equity stake sales: What’s the only difference so far?

Singapore’s GIC is the new investor to invest in RIL’s retail business; it had not made any capital investment in Jio Platforms. “We believe Reliance Retail will continue to use its extensive supply chain and store networks, as well as strong logistics and data infrastructure, to add value to its customers and shareholders,” said Lim Chow Kiat, Chief Executive Officer, GIC.

TPG is a global alternative asset firm with more than $83 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity. TPG is making the investment from its TPG Capital Asia fund. “We are excited to join with them as they seek to create a more inclusive retail industry that allows Kiranas and Indian consumers to benefit from the connectivity, efficiency, and accessibility of the Reliance Retail omnichannel platform,” said Jim Coulter, Co-CEO, TPG.

Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsel.

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