Accell Board Recommends Offer By KKR-led Consortium – Quick Facts

Accell Group and the consortium led by KKR (KKR) and including Teslin announced that a merger agreement has been reached on a recommended public offer to be made by Sprint BidCo B.V. for all of the issued and outstanding ordinary shares in the capital of Accell Group for 58.00 euros in cash per share. This represents a total consideration of approximately 1.56 billion euros. The Boards of Accell Group recommended the offer.

Sprint BidCo is an affiliate of the affiliated investment funds advised by Kohlberg Kravis Roberts & Co. LP or one of its affiliates. Teslin Alpine Acquisition B.V., a subsidiary of Teslin, is together with Sprint BidCo and KKR is the consortium.

Accell Group’s existing Board of Management will continue to lead the Group.

Biden To Meet Virtually With Japanese Prime Minister Fumio On Friday

President Joe Biden will meet virtually with Japanese Prime Minister Kishida Fumio on Friday.

The meeting is intended to further deepen ties between the two governments, economies, and the people, the White House said.

The meeting will highlight the strength of the U.S.-Japan Alliance, which is the cornerstone of peace, security, and stability in the Indo-Pacific and around the world, White House Press Secretary Jen Psaki said in a statement Sunday.

“President Biden looks forward to working with Prime Minister Kishida to advance our shared vision for a free and open Indo-Pacific, and to expand our close cooperation on critical issues like combatting COVID-19, addressing the climate crisis, and partnering on new and emerging technologies, including through the Quad,” she added.

Gold Hovers Near Two-month High As Fed Meeting Looms

Gold prices held near two-month high on Monday, as Russia-Ukraine tensions simmered and U.S. 10-year Treasury yields fell to an one-week low.

Spot gold edged up 0.2 percent to $1,838.83 per ounce, holding close to last week’s high of $1,847.42 an ounce. U.S. gold futures were up 0.4 percent at $1,838.90.

The U.S. State Department announced Sunday evening it would reduce staff levels at the U.S. Embassy in Kyiv, Ukraine, beginning with the departure of nonessential staff and family members.

Meanwhile, Russia’s Foreign Ministry has rejected a British claim that Russia was seeking to replace Ukraine’s government with a pro-Moscow administration.

The U.S. central bank’s Federal Open Market Committee (FOMC) is scheduled to meet on Jan. 25-26, with investors awaiting clues on how soon and how much the Fed would raise rates in 2022.

On the Covid-19 front, the World Health Organization (WHO) has for the first time in a while indicated that the pandemic could come to an ‘end’ in Europe after the current Omicron-driven wave passes over.

The S&P 500 falls into correction territory with its sharpest daily drop in more than a year.

The decline of the index, a broad gauge of Wall Street, signals that investors have become markedly more pessimistic about the stock market.

By Coral Murphy Marcos

Upstart Holdings Stock Continues To Fall; Down 12%

Shares of Upstart Holdings, Inc. (UPST) are slipping over 12% on Monday morning, as the AI-powered lending platform’s stock continues to fall.

UPST is currently trading at $81.53, down $11.19 or 12.07%, on the Nasdaq. The stock has traded between $42.51 and $401.49 in the past 52-week period. The stock has dropped nearly 80% from the $401 per share price high in mid-October.

Upstart Holdings operates a cloud- based artificial intelligence (AI) lending platform. The company’s platform aggregates consumer demand for loans and connects it to its network of the company’s AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

Bank of Hawaii Corp. Reveals Increase In Q4 Income, Beats estimates

Bank of Hawaii Corp. (BOH) announced earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company’s earnings came in at $63.84 million, or $1.55 per share. This compares with $42.31 million, or $1.06 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $1.35 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Bank of Hawaii Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $63.84 Mln. vs. $42.31 Mln. last year.
-EPS (Q4): $1.55 vs. $1.06 last year.
-Analyst Estimate: $1.35

BT Brands’ Rally Continues

BT Brands, Inc. (BTBD) shares are trading more than 29 percent higher on Monday morning, despite no company-specific announcement on the day to influence the stock movement. The shares have been on an uptrend since January 21, after a dip in the previous days.

Currently, shares are at $3.14, up 29.61 percent from the previous close of $2.43 on average volume of 4,994,178. For the 52-week period, the shares have traded in a range of $2.22-$5.25 on average volume of 115,487.

Kohl’s Confirms Receipt Of Expressions Of Interest To Acquire The Company – Quick Facts

Department store chain Kohl’s Corp. (KSS) confirmed on Monday that it has received letters expressing interest in acquiring the Company.

Kohl’s said its Board of Directors will determine the course of action that it believes is in the best interests of the Company and its shareholders. The board advised shareholders not to take any action at this time.

Kohl’s added that it does not intend to further comment publicly on these matters unless it determines it is in the best interests of shareholders to do so.

These Bubblies From Copenhagen Are Low A.B.V.

Copenhagen Sparkling Tea Company’s lineup of teas contain little to no alcohol and pair nicely with all manner of foods.

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By Florence Fabricant