Thursday, 29 Jul 2021

Stock Alert: NextEra Energy Partners Down 3%

John McAfee fights extradition from Spain

FBI probing illegal IRS leak of tax returns from America’s wealthy

South Carolina congresswoman questions timing of billionaire info release ahead of progressive pitch to increase taxes

MADRID (AP) — Detained antivirus software entrepreneur John McAfee testified in a Spanish court Tuesday as part of his fight against extradition to the United States, where he is wanted on tax-related criminal charges that carry a prison sentence of up to 30 years.

BALTIMORE BUSINESSES THREATENING TO WITHHOLD TAX PAYMENTS AMID VIOLENCE, ‘LAWLESSNESS’

McAfee, 75, appeared from prison via videolink at a hearing in Spain’s National Court. He argued that the charges against him are politically motivated and said he would spend the rest of his life in prison if he was returned to the United States, according to a report by private Spanish news agency Europa Press.

A Spanish judge is set to rule in coming days on whether he should be extradited.

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McAfee was arrested last October at Barcelona’s international airport on a warrant issued by Tennessee. A judge ordered at that time that McAfee should be held awaiting the outcome of a hearing on extradition.

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Tennessee prosecutors have charged McAfee with evading taxes after failing to report income made from promoting cryptocurrencies while he did consultancy work, as well as income from speaking engagements and selling the rights to his life story for a documentary.

Stock Alert: Finance Of America Up 26%

Shares of Finance Of America Companies Inc. (FOA) are climbing over 26% on Tuesday morning. FOA is currently trading at $9.24, up $1.94 or 26.58%, on the NYSE. The stock has traded between $7.26 and $11.65 in the 52-week period.

Finance of America is set to join the Russell 3000 Index, which tracks the performance of 3,000 of the largest publicly traded stocks in the U.S., on June 28.

Finance of America Companies operates a consumer lending platform in the United States. The company provides residential mortgages, reverse mortgages, and loans to residential real estate investors distributed across retail, third party network, and digital channels.

European Economics Preview: UK Unemployment Data Due

Unemployment data from the UK and revised consumer price data from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK unemployment data for April. The jobless rate is seen at 4.7 percent in three months to April versus 4.8 percent in three months to March.

In the meantime, Destatis is set to publish Germany’s final consumer prices for May. According to flash estimate, consumer price rose to 2.5 percent in May from 2 percent in April.

At 2.45 am ET, France’s statistical office Insee is scheduled to release revised consumer price data. Inflation is seen at seen at 1.4 percent, in line with flash estimate, versus 1.2 percent in April.

At 3.00 am ET, the Swiss State Secretariat for Economic Affairs is slated to issue economic forecasts.

At 4.00 am ET, Italy’s revised consumer price data for May is due. The statistical office is expected to confirm 1.3 percent rise in consumer prices in May.

At 5.00 am ET, Eurostat publishes euro area foreign trade data for April. The trade surplus totaled EUR 15.8 billion in March.

Stock Alert: X Financial Up 14%

X Financial (XYF) shares are trading higher on Tuesday morning continuing a momentum since the first week of June, reaching above its 200-day moving average. There were no corporate announcements from the company on the day.

Currently, shares are trading at $9.39, up 14.11 percent from the previous close of $8.22, on a volume of 2,287,283. The shares have traded in a range of $1.41-$10.79 on average volume of 148,954.

On June 11, the company had said that it will report its first quarter financial results on March 31.

‘Alice In Neverland’ In Development As Stage Musical, Merging Characters From Children’s Literature Classics

Alice in Neverland, an original musical that imagines a meeting between Lewis Carroll’s Alice and J.M. Barrie’s Peter Pan, is under development, with actors Christy Altomare (Anastasia), Heath Saunders (Natasha, Pierre & The Great Comet of 1812) and Will Swenson (Waitress) set to lead a developmental reading tomorrow.

With book, music and lyrics by Phil Kenny and Reston Williams, Alice in Neverland is being presented by team of Broadway producers that includes Jerry Goehring (Be More Chill), Jim Kierstead (Hadestown), Mike Evariste (Disgraced), Jamie deRoy (Beetlejuice) and 42nd.club (Anastasia).

The reading cast will also include Megan Masako Haley (Mean Girls), Alistair Brammer (Miss Saigon) and Timothy Hughes (Hadestown).

Also participating in the reading are M. Chase Grant, Kurt Hellerich, Claire Wilkins Kenny, Lisa Larsen, Mack, Beatriz Melo, Ryan Simmons, Scout Smith, Matt Walker, Kim Williams and Clotile Yanna.

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Stock Alert: NextEra Energy Partners Down 3%

Shares of renewable energy company NextEra Energy Partners, LP (NEP) are down 3 percent on Tuesday’s trading even as the company announced the pricing of $500 million of its convertible senior notes due in 2024.

The company expects the net proceeds from the notes offering, closing on June 17, excluding expenses, to be around $498.6 million. NextEra Energy will use the earnings from the offering to fund a portion of its earlier announced acquisition of a 391-megawatt portfolio of wind projects.

Currently trading at $72.76, the stock has traded between $49.47 and $88.29 during the past 52 weeks.

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