Author: Multibagger News

Title: Ursa Major Secures $12.5 Million Contract from Department of Defense and U.S. Navy for Revolutionary 3D Printed Rocket Motors Ursa Major, a groundbreaking startup specializing in 3D printed rocket motors, has just announced a major milestone with a $12.5 million contract from the Department of Defense and the U.S. Navy. This investment, which brings the total funding for the project to $25 million, marks a significant step forward for the company in revolutionizing solid fuel rocket engine development. The funding from the Office of Strategic Capital (OSC) and the Navy highlights the government’s commitment to advancing innovation in rocket…

Steel Connect Offers to Acquire DMC Global at $16.50 Per Share: Stifel Adjusts Price Target to $17.00 Stifel recently adjusted its price target for DMC Global (NASDAQ:BOOM) to $17.00 from $19.00, maintaining a Buy rating on the stock. This revision comes as Steel Connect proposes to acquire DMC Global at $16.50 per share in cash, representing a 51% premium over the last closing price. Despite a recent decline in DMC Global’s shares, Steel Connect remains interested in acquiring DMC’s business units, DynaEnergetics and NobelClad. With strong cash reserves, Steel Connect is well-positioned to finance the proposed transaction. While Stifel has…

Breaking News: FTX Auditor Fined $1.95 Million by SEC for Negligence and Violation of Audit Standards By Jonathan Stempel NEW YORK (Multibagger) – In a significant enforcement action, Prager Metis, a former auditor for the now-collapsed cryptocurrency exchange FTX, has agreed to pay $1.95 million to settle two U.S. Securities and Exchange Commission (SEC) cases. This settlement comes amid allegations of negligence in auditing the exchange formerly led by Sam Bankman-Fried, who has since been convicted of fraud. Key Points of the Settlement: Total Penalty Amount: Prager Metis will pay $1.75 million in civil fines along with disgorged profits and…

Title: “Former Fed Economist Predicts 50-bps Rate Cut as U.S. Labor Market Weakness Worries Investors – Analysis and Insights” As the world’s best investment manager and financial market journalist, I bring you exclusive insights into the potential interest rate cut by the Federal Reserve. Former Fed economist Claudia Sahm has predicted a 50-bps rate cut due to concerns over labor market weakness, signaling a potential shift in economic policy. Sahm, creator of the recession indicator “Sahm rule,” has accurately predicted past recessions but acknowledges that the current economic cycle is unique. Despite recent data showing a rise in the jobless…

The Best Investment Manager’s Analysis: Fed Expected to Cut Interest Rates Amid Labor Market Weakness By Bansari Mayur Kamdar According to former Fed economist Claudia Sahm, the U.S. economy is not currently in a recession but concerns over labor-market weakness may prompt the Federal Reserve to cut interest rates by 50 basis points on Wednesday. Sahm, who accurately predicted every U.S. recession since 1970 with her “Sahm rule”, believes that recent data showing a 4.3% jobless rate in July may lead to the rate cut. Markets are pricing in a 63% chance of a 50-bps rate cut and a 37%…

Breaking News: Snapchat Simplifies App Interface in Latest Update In a move to make the app more user-friendly, Snapchat has announced a test version called “Simple Snapchat” that streamlines the interface for easier navigation. This new version removes the Snap Map and Stories tabs from the home screen, and instead focuses on three main icons: chat, camera, and Spotlight – Snapchat’s answer to TikTok. But don’t worry, Stories and Snap Map aren’t disappearing completely. They will be integrated into other parts of the app, making them easily accessible. Additionally, a new recommendation algorithm from Snap will curate content in the…

Alaska Air Group Receives DOT Approval for Merger with Hawaiian Holdings: What Investors Need to Know In a groundbreaking development in the airline industry, Alaska Air Group, Inc. (NYSE: ALK) has been granted an interim exemption by the U.S. Department of Transportation (DOT) for its merger with Hawaiian Holdings, Inc. (NASDAQ: HA). This approval, announced today, marks a crucial milestone in the merger process, with the finalization expected on Wednesday. The merger, initially announced on December 2, 2023, involves Alaska Air Group’s subsidiary, Marlin Acquisition Corp., joining forces with Hawaiian Holdings to create a fully owned subsidiary under Alaska Air…

Alaska Airlines’ $1.9 Billion Acquisition of Hawaiian Airlines: What You Need to Know Major Airline Merger Approved: Alaska Airlines Seals $1.9 Billion Deal with Hawaiian Airlines Image Caption: Alaska Airlines’ recent acquisition of Hawaiian Airlines shakes up the U.S. airline industry. (Image Source: Investing.com) WASHINGTON (Multibagger) – The U.S. Transportation Department has greenlit Alaska Airlines’ $1.9 billion acquisition of Hawaiian Airlines, subject to key consumer protection requirements and the maintenance of essential routes. In a major move within the aviation industry, Alaska Airlines, the fifth-largest domestic U.S. airline, has concluded its $1.9 billion acquisition of Hawaiian Airlines, the tenth-largest carrier.…

Breaking News: IMF Holds Productive Talks with Kenyan Government on Economic Challenges In a recent development, the International Monetary Fund (IMF) has engaged in productive discussions with the Kenyan government regarding the country’s economic and fiscal challenges. This comes after widespread protests led to the abandonment of planned tax hikes, leaving the government with a larger budget deficit and mounting unpaid bills. President William Ruto’s decision to scrap this year’s finance bill in June has created a situation where the government is facing financial strain and a delay in the disbursement of IMF funding. However, the IMF remains committed to…

Breaking News: Multiple Explosions Rock Lebanon, 8 Dead and 2,750 Injured – Who’s Behind the Attacks? In a shocking turn of events, at least eight people have been killed and around 2,750 have been wounded in Lebanon as pagers used by Hezbollah members detonated simultaneously. The United States has denied any involvement in the incidents and is actively gathering information to determine who is responsible for these tragic events. State Department spokesperson, Matthew Miller, emphasized that the U.S. was not aware of the incident in advance and is working to gather facts like journalists around the world. Hezbollah has threatened…