Wanda Sports To Sell IRONMAN Group – Quick Facts

Austria to postpone 5G frequency auction: RTR

VIENNA (Reuters) – Austria to will postpone its 5G frequency auction due to the coronavirus crisis, telecoms regulator RTR said on Thursday.

The auction for the 700, 1,500 and 2,100 MHz bands, which will provide data rates needed for autonomous driving and to connect machines and production sites, was initially planned for April.

Stock Alert: Signet Jewelers Stock Rise 25% On Upbeat Q4

Shares of Signet Jewelers Ltd. (SIG) are soaring over 25% in pre-market today, after the company reported upbeat Q4 results.

The company’s Q4 GAAP net income was $3.14 per share compared to a loss of $2.25 per share last year. Non-GAAP earnings were $3.67 per share versus $3.96 per share in the prior year period. Revenue for the quarter edged down to $2.153 billion from the previous year’s revenue of $2.155 billion. Wall Street analysts expected earnings of $3.47 per share on revenue of $2.12 billion for the quarter.

The stock has been trading in the range of $5.60 – $31.44 for the past one year, and closed Wednesday’s trade at $7.33, up 73 cents or 11.06%. SIG is currently trading at $9.18, up $1.85 or 25.24% in the pre-market trading session.

US jobless claims report: Record 3.2 million seek unemployment benefits

A record 3.2 million people applied for unemployment benefits last week as the coronavirus crisis forced layoffs around the US, the feds said Thursday.

The seasonally adjusted total reported by the US Labor Department shattered expectations as well as the previous record of 695,000 initial jobless claims in a single week, which was set in 1982.

The staggering number for the week ending March 21 was more than 3 million higher than the prior week’s total of 281,000.

States cited the impact of the coronavirus pandemic in reporting figures to the feds, according to the Labor Department’s weekly report. Services industries continued to take a hit while other sectors such as health care, arts, entertainment and transportation also contributed to the jump, officials said.

Stock Alert: Signet Jewelers Stock Rise 25% On Upbeat Q4

Shares of Signet Jewelers Ltd. (SIG) are soaring over 25% in pre-market today, after the company reported upbeat Q4 results.

The company’s Q4 GAAP net income was $3.14 per share compared to a loss of $2.25 per share last year. Non-GAAP earnings were $3.67 per share versus $3.96 per share in the prior year period. Revenue for the quarter edged down to $2.153 billion from the previous year’s revenue of $2.155 billion. Wall Street analysts expected earnings of $3.47 per share on revenue of $2.12 billion for the quarter.

The stock has been trading in the range of $5.60 – $31.44 for the past one year, and closed Wednesday’s trade at $7.33, up 73 cents or 11.06%. SIG is currently trading at $9.18, up $1.85 or 25.24% in the pre-market trading session.

ViacomCBS Has Received 25 Inquires About Buying Simon & Schuster Since It Flagged Intention To Sell Publisher

ViacomCBS has received 25 inbound inquiries about buying Simon & Schuster since CEO Bob Bakish signaled plans to sell the storied publisher at a media conference in late February.

The coronavirus was already top of mind then for many companies then and Bakish had indicated a sale might have to wait until things settled. “As this market stabilizes, we are going to engage in a process and look at strategic alternatives for Simon & Schuster,” he said.

The company continues to prepare the division for a potential sale, the person said.

Viacom declined to comment.

ViacomCBS is seeking to exit non-strategic businesses and build up cash to invest in content, streaming and other areas of focus.

The publisher is not a core asset, Bakish said at the Morgan Stanley Technology, Media and Telecom Conference, and as ViacomCBS restructures post-merger he had received “multiple, unsolicited inbound calls” expressing interest.

Simon & Schuster, founded in 1924, was acquired by Viacom in the ’80s when it bought Paramount Communications. It moved to CBS when Viacom and CBS split in 2006 and came back to the fold of a combined company in the merger that closed last December. It publishes 2,000 titles a year from authors from Stephen King to Doris Kearns Goodwin.

See doctors react to photo of nurses wearing trash bags

New York (CNN Business)Go into most US emergency rooms, and you’ll find staff wear Crocs. Now their manufacturer has announced a program to donate 10,000 a day to healthcare workers fighting against the novel coronavirus.

“Over the past week, we have spoken to healthcare workers, their facilities and even their family and friends, and they have specifically asked for our shoes in an effort to provide ease on their feet, as well as ease of mind as they need the ability to easily clean up before they go home to their families,” said Crocs CEO Andrew Rees.
Crocs (CROX) are made out of a rubber-like molded polymer resin. They are waterproof and can be easily washed off, which is an advantage as people take special precautions because of the spread of the coronavirus.

    Crocs said it is delivering some shipments straight to hospitals and other facilities, but that it is allowing workers to sign up for the free shoes by going to www.crocs.com/freeforhealthcare. It said it will continue to donate the shoes as long as supplies last.
    “The duration of our giveaway will depend on our level of inventory and the amount of requests we receive,” said Rees. “These workers have our deepest respect, and we are humbled to be able to answer their call and provide whatever we can to help during this unprecedented time.”

    Wanda Sports To Sell IRONMAN Group – Quick Facts

    Wanda Sports Group Company Limited (WSG) has entered into a definitive stock purchase agreement with Advance, a family-owned business, to sell The IRONMAN Group in an all cash deal at an enterprise value of $730 million. The IRONMAN Group is comprised of a global portfolio of mass participation sports events, across triathlon, running, trail running, cycling and mountain biking.

    Following the sale, Wanda Sports Group will continue to operate three business segments – Mass Participation, Spectator Sports, and Digital, Production, Sports Solutions.