Friday, 27 Nov 2020

Gold, silver rise tracking global trends

Juniper Networks To Buy 128 Technology For $450 Mln

Juniper Networks (JNPR) said that it agreed to buy 128 Technology for $450 million payable in cash and the assumption of outstanding equity awards.

The company expects to close the deal in its fourth quarter.

In fiscal year 2021, the transaction is expected to be slightly accretive to revenue and gross margins, but dilutive to Non-GAAP earnings per share. In fiscal year 2022, the transaction is expected to be accretive to Non-GAAP earnings per share.

Juniper noted that it will integrate 128 Technology with its AI-Driven Enterprise business unit, which includes wired and wireless access and SD-WAN, all driven by Mist AI.

Stock Alert: South Mountain Merger Up 10% As It Combines With Billtrust

Shares of South Mountain Merger Corp. (SMMC) are gaining over 10% on Monday morning after the special purpose acquisition corporation agreed to merge with Billtrust, a cloud-based payment processing software company, in a deal with an enterprise value of about $1.3 billion.

SMMC is currently trading at $11.40, up $1.05 or 10.14%, on the Nasdaq.

The company intends to change its name to BTRS Holdings Inc. and is expected to trade on Nasdaq under a new ticker symbol. The deal is expected to close in early 2021. The company is expected to be debt-free with around $200 million in cash.

Billtrust’s management team led by CEO and Founder Flint Lane, President Steve Pinado and Chief Financial Officer Mark Shifke will continue to lead the company.

North East and Teeside start talks with government about moving to tier 3

Leaders in the North East and Teeside have started government talks about moving to a tier three lockdown.

Matt Hancock confirmed the move this evening. It means they join Greater Manchester, South and West Yorkshire and Nottinghamshire in potentially having the highest tier of restrictions due to coronavirus.

More follows.

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Firefighters destroy $90,000 Mustang Shelby GT500 … here's why

2020 Ford Mustang Shelby GT500 test drive

The 2020 Ford Mustang Shelby GT500 is no one-trick pony. The most powerful Ford ever is as happy on a twisty track as it is on a drag strip, Fox News Automotive Editor Gary Gastelu says.

Firefighters in Dearborn, Mich, destroyed a $90,000 Ford Mustang Shelby GT500 last week, but they had a good reason.

The department, which is located in the same town as Ford's headquarters, was using the pre-production muscle car donated by the automaker to hone the vehicle extraction skills needed to rescue victims from wrecked vehicles.

They said it “almost broke our hearts” to rip apart the red coupe, which ended up with its roof pillars sawed through, hood torn open and its driver’s door pulled off.

During early stages of launching a new model, automakers manufacture several vehicles that aren't certified for sale and often end up being used for educational purposes rather than going straight to the crusher.

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CVS hiring 15,000 as it braces for more COVID-19 cases this fall

CVS Health said Monday it is hiring 15,000 people to administer COVID-19 tests and flu vaccinations as it prepares for an expected surge in cases this fall and winter.

More than 10,000 of the new hires will be licensed pharmacy technicians who can give COVID-19 tests — and who the company hopes will also be authorized to administer vaccinations.

“Additional team members typically are needed every flu season,” head of human resources Lisa Bisaccia said in a statement. “However, we’re estimating a much greater need for trained pharmacy technicians this year given the continued presence of COVID-19 in our communities.”

Some 4,000 CVS drive-throughs also serve as a COVID-19 testing sites across the country.

Many of these jobs are temporary, the company said and include pharmacists, nurses, physician assistants and distribution center employees.

In March, at the onset of the pandemic, the company announced plans to hire 50,000 employees in what it described as “the most ambitious hiring drive in the company’s history.”

The 15,000 new hires are in addition to those previously announced positions, the company said.

CVS has been pushing state legislatures to allow licensed pharmacy technicians to give vaccinations. Only six states, Idaho,  Michigan, Nevada, Rhode Island, Utah and Washington, according to a MarketWatch report, allow techs to give vaccines.

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Gold, silver rise tracking global trends

In the previous trade, the precious metal had closed at ₹51,558 per 10 grams. Silver also jumped ₹805 to ₹63,714 per kilogram from ₹62,909 per kilogram in the previous trade

Gold in the national capital rose ₹182 to ₹51,740 per 10 grams on Monday, following gains in global precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had closed at ₹51,558 per 10 grams. Silver also jumped ₹805 to ₹63,714 per kilogram from ₹62,909 per kilogram in the previous trade.

In the international market, gold was trading in the green, rising to $1,909 per ounce and silver was quoting with marginal gains at $24.64 per ounce.

“Gold prices traded higher on current market uncertainty over stimulus and rising coronavirus cases. The weaker dollar during the day also supported buying in gold,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

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