LVMH buys 50% stake in Jay-Z's champagne brand Armand de Brignac

• LVMH bought half of Jay-Z's champagne brand, Armand de Brignac. Financial terms were not disclosed.
• Jay-Z bought the "Ace of Spades" brand in 2014.
• The champagne brand sold more than half a million bottles in 2019.

Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the purchase of a 50% stake in rapper Jay-Z's champagne brand, Armand de Brignac.

Financial terms of the deal were not disclosed.

Jay-Z's relationship with Armand de Brignac started in 2006 with a 50% stake in the brand and an appearance in his "Show Me What You Got" music video before it officially launched later that year. He had previously endorsed Cristal in his songs before an executive of the parent company made disparaging comments about its role in hip-hop culture. The rapper, whose given name is Shawn Carter, bought the remaining half of Armand de Brignac in 2014.

The brand, which is known by the nickname "Ace of Spades," sold more than 500,000 bottles in 2019. With fewer parties and nights out, the coronavirus pandemic has hit champagne sales. Industry trade group Comite Interprofessionnel du Vin de Champagne estimated that champagne sales fell $1.2 billion, or 18% by volume, last year.

Viatris Sees FY21 Revenue Below View – Quick Facts

Viatris Inc. (VTRS) expects revenue to be in the range of $17.2 billion – $17.8 billion for fiscal year 2021. Analysts polled by Thomson Reuters expect the company to report revenues of $18.46 billion for fiscal year 2021. Analysts’ estimates typically exclude special items.

The company said it is confident that its financial guidance for 2021 is the right starting point for Viatris and continue to expect 2021 to be trough year in terms of revenue, adjusted EBITDA and free cash flow, reflecting a balanced view of both near-term tailwinds and headwinds, particularly given the delay in closing of the combination between Mylan and Pfizer’s Upjohn business.

The company expects to pay an annualized dividend of about $540 million or $0.44 per share, with the expectation to grow the dividend amount thereafter.

Due to the timing of the initiation of the dividend the company expect to make three payments in 2021 totaling about $400 million. The company expects the first quarterly dividend of $0.11 per share to be declared in May 2021 and distributed in June 2021.

The company said it expanded its commitment to debt paydown and to maintaining its investment grade credit rating, and now expects to repay approximately $6.5 billion in debt by the end of 2023.

BD, Scanwell To Develop At-Home Rapid Test For COVID-19 – Quick Facts

Becton, Dickinson and Company (BDX) and Scanwell Health announced a collaboration to create an at-home rapid test for SARS-CoV-2 using a BD antigen test and the Scanwell Health mobile app. Becton, Dickinson plans to produce a lateral flow antigen test and pair it with the Scanwell mobile app. The app will provide step-by-step instructions on how to collect and transfer a nasal swab sample and use the mobile device’s camera to analyze and interpret results.

Scanwell Health, a provider of at-home medical testing, is the first and only to receive FDA 510(k) clearance for an over-the-counter diagnostic smartphone application.

MoneyGram International Q4 Earnings Beat Estimates – Quick Facts

MoneyGram International, Inc. (MGI) reported fourth-quarter net income of $7.3 million or $0.08 per share. This compares with net loss of $11.9 million or $0.16 per share in the same quarter a year ago.

Earnings, excluding items, were 10.7 million or $0.12 per share in the quarter.
On average 6 analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share. Analysts’ estimate typically exclude special items.

Revenue for the quarter was nearly flat at $323.3 million compared with $323.7 million in the corresponding quarter last year. Analysts were expecting revenue of $326.62 million for the quarter.

Looking forward to the first quarter, the company anticipates total revenue of about $300 million. The consensus estimate stands at $298.53 million.

Commenting on the outlook, Chief Executive Alex Holmes, said, “As our transformational journey continues, our modern, mobile, API-driven platform puts MoneyGram in a strong position to quickly adapt to changing conditions, and we are confident in the underlying strength of our business led by our growing customer base.”

Stock Alert: Rodgers Silicon Valley Acquisition Up 30% On Merger Deal With Enovix

Shares of Rodgers Silicon Valley Acquisition Corp. (RSVA) are gaining nearly 30% on Monday morning after the special purpose acquisition company announced a merger deal with California-based Enovix Corp., which makes 3D silicon lithium-ion batteries.

RSVA is currently trading at $20.34, up $4.59 or 29.14%, on the Nasdaq.

The merger deal reflects an estimated enterprise value for the combined company of about $1.128 billion.

Upon closing of the transaction, which is expected to occur in the second quarter of 2021, the company will be named Enovix Corp. and is expected to remain listed on the Nasdaq under the new ticker symbol, “ENVX”.

Enovix will receive about $385 million in cash. The proceeds will be funded through a combination of around $230 million cash in trust by Rodgers and a $175 million concurrent PIPE of common stock issued at $14 per share.

15-year-old shot in Aurora overnight, 1 person detained

A 15-year-old girl was shot late Sunday evening in Aurora and police detained one person.

The Aurora Police Department was investigating the shooting near the Foxdale Condos along the 18300 block of E. Kepner Place on Sunday shortly after 10 p.m.

One person, later identified as a 15-year-old girl, was able to transport herself to a local hospital. Her injuries were not life-threatening, police said.

A suspect remained at-large for some time, but police said they had one man in custody as of 11:13 p.m. and they were not searching for anybody else.

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