Monday, 24 Jan 2022

European Economics Preview: Eurozone Industrial Output Data Due

CU Buffs-Oregon men’s basketball game gets rescheduled date – The Denver Post

The Colorado Buffaloes men’s basketball team announced Wednesday it will play Oregon on Jan. 25 in a game that has been postponed twice due to COVID-19.

Tip-off is slated for 8 p.m. and will air on the Pac-12 Network, KOA 850 and 94.1 FM.

The game was originally scheduled for Dec. 30 but was pushed back due to COVID-19 protocols within CU’s program. It was then set for Jan. 3 but COVID-19 issues within the Ducks’ program forced it to move again.

The game will precede a northwest trip that includes Washington (Jan. 27) and Washington State (Jan. 30).

Crude Oil Prices Show Another Strong Move To The Upside

Crude oil prices showed another notable move to the upside during trading on Wednesday, extending the spike seen in the previous session.

After soaring $2.99 or 3.8 percent to $81.22 a barrel on Tuesday, crude for February delivery jumped $1.42 or 1.7 percent to $82.64 a barrel.

Oil prices continued to benefit from optimism about the outlook for energy demand amid indications of tight near-term supply.

The increase in the price of crude oil also came after a report from the Energy Information Administration showed U.S. crude oil inventories fell by more than expected in the week ended January 7th.

The report showed crude oil inventories tumbled by 4.6 million barrels versus estimates for a decrease of about 1.9 million barrels.

Meanwhile, the report showed gasoline inventories jumped by 8.0 million barrels, while distillate fuel inventories increased by 2.5 million barrels.

What Is Driving Fathom Digital Manufacturing Shares Up 40%?

Shares of Fathom Digital Manufacturing Corporation (FATH) are surging nearly 40% on Wednesday morning despite no stock related news statement from the company to drive the shares.

FATH is currently trading at $7.33, up $2.02 or 38.04%, on the Nasdaq.

Fathom Digital Manufacturing is a digital manufacturing platform that provides product development and manufacturing services in North America. It provides plastic and metal additive, CNC machining, injection molding and tooling, sheet metal fabrication, and design and engineering services for the technology, defense, aerospace, medical, automotive, and IOT sectors. The company was founded in 2008 and is based in Hartland, Wisconsin.

51jobs Up 10% As Investors Revises Taking Private Offer

Shares of 51job, Inc. (JOBS) are gaining nearly 10% on Wednesday morning. A consortium of investors on Wednesday submitted a revised deal to take the China-based jobs portal private. The consortium has slashed its offer, which now values the company at about $3.86 billion.

JOBS is currently trading at $50.04, up $4.21 or 9.19%, on the Nasdaq.

The consortium, which includes DCP Capital Partners, Ocean Link Partners and 51job’s co-founder and CEO Rick Yan, had previously offered to take the company private and pay shareholders of the company $79.05 per share in an all-cash deal, which would have valued it at about $5.7 billion.

However, 51job said on Wednesday it had received a proposal to lower the price to $57.25 per share and reduce the combined ownership of the investors after the completion of the deal.

The new offer still represents a premium of 24.9% to the stock’s last close.

HulovoX Recalls Children’s Robes

Chinese retailer HulovoX is recalling about 3,500 units of Children’s Robes due to violation of federal flammability standards and burn hazard, the U.S. Consumer Product Safety Commission said.

The recall involves children’s long-sleeved robes that are made of 100% micro polyester, and available in sizes 3T through 12. The robes were sold in twenty-two multicolored tie-dye and rainbow colorways.

The robes have a sewn-in side seam belt, internal button closure and some have a hood with unicorn décor features such as a mane, ears and horn.

The affected children’s robes were manufactured in China and sold online at Amazon.com from January 2021 through May 2021 for about $30.

According to the agency, the recalled robes fail to meet flammability standards for children’s sleepwear, posing a risk of burn injuries to children.

However, the company has not received any reports of incidents or injuries related to the recalled products to date.

Consumers who purchased the garments from Amazon.com will be contacted through Amazon’s messaging platform and provided prepaid mailers to return the products for a refund.

In similar recalls for children’s products, Seattle, Washington-based Native Creation last week called back about 170 units of Small Wool sweaters citing violation of the Federal Lead Paint ban.

Harriman, New York – based Mark of Fifth Avenue in December called back about 10,000 units of Star Art in Linen-branded children’s robes citing violation of federal flammability standard and burn risk.

European Economics Preview: Eurozone Industrial Output Data Due

Industrial production from euro area is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany’s wholesale prices for December. Prices had increased 16.6 percent annually in November.

At 3.00 am ET, the Czech Statistical Office releases consumer prices for December. Economists expect inflation to rise to 6.6 percent from 6 percent in November.

Also, industrial production is due from Hungary at 3.00 am ET.

At 5.00 am ET, Eurozone industrial production data is due for November. Production is expected to climb 0.5 percent month-on-month, slower than the 1.1 percent increase seen in October.

At 6.00 am ET, consumer price data is due from Portugal.

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