Magnachip Semiconductor Stock Gains 18% On Acquisition Report

Shares of Magnachip Semiconductor Corporation (MX) are gaining over 18% on Tuesday morning on a report that South Korea’s LX Group is looking to acquire the company.

MX is currently trading at $17.75, up $2.72 or 18.10%, on the NYSE, on a volume of 2 million shares, above average volume of 0.5 million shares. The stock had opened its trading at $17.98 after closing Monday’s trading at $15.03. The stock has traded between $14.66 and $26.90 in the past 52 week period.

According to a Korea Economic Daily report, LX Group is expected to submit a letter of intent for Magnachip as early as next week. Magnachip’s entire stake, including the management rights premium, could reach as high as 1 trillion won.

Two-Year Note Auction Attracts Above Average Demand

The Treasury Department kicked off this week’s series of announcements of the results of its long-term securities auctions on Tuesday, revealing this month’s auction of $48 billion worth of two-year notes attracted above average demand.

The two-year note auction drew a high yield of 2.585 percent and a bid-to-cover ratio of 2.74.

Last month, the Treasury sold $50 billion worth of two-year notes, drawing a high yield of 2.365 percent and a bid-to-cover ratio of 2.46.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous two-year note auctions had an average bid-to-cover ratio of 2.55.

The Treasury is due to announce the results of this month’s auction of $49 billion worth of five-year notes on Wednesday and the results of this month’s auction of $44 billion worth of seven-year notes on Thursday.

Arch Resources Climbs 21% On Higher Q1 Results

Shares of metallurgical products company Arch Resources, Inc. (ARCH) are soaring 21 percent on Tuesday’s trading after the company turned to profit in the first quarter of 2022.

The company posted net income of $271.9 million or $12.89 per share, compared with a net loss of $6.0 million or $0.40 per diluted share in the prior-year period.

On average, 5 analysts polled by Thomson Reuters expected the company to earn $13.11 per share in the quarter.

The company’s revenues soared to $867.94 million from $357.54 million in the same period last year.

Currently at $157.29, the stock has traded between $44.20 and $175.99 during the past 52 weeks.

Tiny Love Stories: ‘Queer in Appalachia’

Modern Love in miniature, featuring reader-submitted stories of no more than 100 words.

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CoStar Group, Inc. Q1 Profit Increases, beats estimates

CoStar Group, Inc. (CSGP) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company’s bottom line totaled $89.32 million, or $0.23 per share. This compares with $74.21 million, or $0.19 per share, in last year’s first quarter.

Excluding items, CoStar Group, Inc. reported adjusted earnings of $122.94 million or $0.31 per share for the period.

Analysts on average had expected the company to earn $0.27 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 12.7% to $515.83 million from $457.70 million last year.

CoStar Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $89.32 Mln. vs. $74.21 Mln. last year.
-EPS (Q1): $0.23 vs. $0.19 last year.
-Analyst Estimate: $0.27
-Revenue (Q1): $515.83 Mln vs. $457.70 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.20 – $0.21
Next quarter revenue guidance: $529 – $534 Mln
Full year EPS guidance: $0.98 – $1.03
Full year revenue guidance: $2.15 – $2.17 Bln

With ‘Roar,’ the Creators of ‘GLOW’ Got Extra Personal. And Weird.

A surreal new series by Liz Flahive and Carly Mensch tells eight separate tales about women, including one who is mansplained to by an aggressive duck.

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By Coralie Kraft

Stocks drop 2.8%, led lower by tech, as April’s slump continues.

Big technology companies are set to report earnings starting Tuesday. The S&P 500 has dropped nearly 8 percent this month, its worst monthly showing since March 2020.

By Coral Murphy Marcos

S&P 500

Nuggets’ DeMarcus Cousins fined for kicking towels into stands during Game 4 against Warriors – The Denver Post

Nuggets center DeMarcus Cousins on Tuesday was fined $15,000 for kicking towels into the Ball Arena stands during the team’s Game 4 win Sunday over the Warriors, the league announced.

Midway through the second quarter, Cousins was charged with a personal foul on defense. He was taken out of the game at that point. On his way to the bench, he kicked a pile of towels that flew into stands.

Denver would win the game, 126-121, and force Game 5 back to San Francisco. The two teams will play at 8 p.m. Wednesday at Chase Center.

European Economics Preview: UK Public Sector Finance Data Due

Public sector finances data from the UK is due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for March. The budget deficit is seen widening to GBP 16.5 billion from GBP 13.1 billion in February.

In the meantime, Swiss foreign trade data is due for March.

At 4.00 am ET, unemployment data is due from Poland. Economists forecast the rate to fall marginally to 5.4 percent in March from 5.5 percent in February.

At 8.00 am ET, Hungary’s central bank announces its interest rate decision. The bank is expected to hike its key rate to 5.4 percent from 4.4 percent.