Outdoor grills maker Weber targets $5 billion valuation in U.S. IPO

(Corrects to say valuation of about $5 billion, not $8 billion, in headline, paragraph 1)

(Reuters) -Outdoor grills maker Weber Inc said on Tuesday it expects to raise nearly $797 million through an initial public offering in the United States, targeting a valuation of about $5 billion.

US home prices surge 17% in May, fastest in 17 years

WASHINGTON — Prices for U.S. homes rose faster in May than they have in 17 years as surging demand for housing outstripped the supply.

The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, soared 17% in May from a year earlier on top of a 15% jump in April. The May increase was the biggest since August 2004.

The hottest markets were Phoenix (where prices surged 25.9%), San Diego (24.7%) and Seattle (23.4%). All 20 cities reported faster year-over-year growth in May than they did in April.

The U.S. housing market has been hot. Many Americans, tired of being cooped up at home during the pandemic, have traded in apartments and small homes in city for bigger houses in the suburbs. The Federal Reserve’s easy money policies have also kept mortgage rates near historic lows, pushing up demand for housing.

The supply of houses for sale has been limited, partly because many Americans are reluctant to put their properties on the market and allow would-be buyers to troop through their homes.

But rising prices have pushed many would-be buyers out of the market. The Commerce Department reported Monday that sales of new homes fell in June for the third straight month, sliding to the lowest level in more than a year. Last week, the National Association of Realtors reported that sales of previously occupied homes rose in June, snapping a four-month losing streak.

HP Agrees To Buy Teradici Corp For Undisclosed Term – Quick Facts

HP Inc. (HPQ) announced Tuesday a definitive agreement to acquire Teradici Corp., a global innovator in remote computing software that enables users to securely access high-performance computing from any PC, Chromebook, or tablet. The financial terms of the transaction were not disclosed.

The acquisition will enhance HP’s capabilities in the Personal Systems category by delivering new compute models and services tailored for hybrid work.

Teradici brings a complementary set of capabilities that are focused on cloud PCs and virtual workstations.

Combining the two remote access solutions will enable HP to offer a broader remote compute platform that spans on-premise and cloud solutions from any type of device, including macOS, public clouds, and iPad and Android tablets.

The transaction is expected to close in fourth calendar quarter of 2021, pending regulatory review and other customary closing conditions.

Lamb Weston Sees FY22 Sales Below Estimates – Quick Facts

While reporting financial results for the fourth quarter on Tuesday, Lamb Weston Holdings, Inc. (LW) said it expects net sales growth for the full-year 2022 to be above its long-term target of low-to-mid single digits.

On average, seven analysts polled by Thomson Reuters expect the company to report a sales growth of 10.2 percent to $3.95 billion for the year.

Relmada Therapeutics Gains 6% On Positive Results Of REL-1017

Relmada Therapeutics, Inc. (RLMD) shares are rising more than 12 percent on Tuesday morning trading after the company reported positive results in phase 3 human abuse potential study of REL-1017 for the treatments of major depressive disorder or MDD.

The company said the study showed that all three doses of 25 mg, 75 mg and 150 mg tested in recreational opioid users, demonstrated a highly statistically significant difference against the active control drug, oxycodone 40 mg.

Currently, shares are at $26.58, up 6 percent from the previous close of $25.12.

Elvis Costello, LL Cool J, Journey, Patti Smith Join NYC Central Park Homecoming Concert: Clive Davis Announces Full Line-Up

The full musical line-up for New York City’s big “Homecoming” concert in Central Park this August was announced today by recording mogul Clive Davis and Mayor Bill de Blasio. Joining the previously announced Bruce Springsteen, Paul Simon and Jennifer Hudson will be Andrea Bocelli, LL Cool J, Kane Brown, Elvis Costello, the New York Philharmonic, Jon Batiste, Earth, Wind and Fire, Kenny “Babyface” Edmonds, Cynthia Erivo, Wyclef Jean, Journey, the Killers, Gayle King, Barry Manilow, Polo G, Patti Smith, and Rob Thomas with Carlos Santana.

Special guests will include Jimmy Fallon, Gayle King and Don Lemon.

The August 21 concert on Central Park’s Great Lawn is designed as a celebration of New York’s post-shutdown return to cultural life.

Covid vaccinations will be required to attend the concert, de Blasio said.

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The concert will be the highlight of a weeklong, citywide celebration, which also will include smaller concerts in each of the other four boroughs.

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Bitcoin and crypto's 'Elon Musk problem'

(CNN Business)Bitcoin and other cryptocurrencies are hotter than ever.

Fans tout bitcoin as the future of money and a hedge against inflation since it’s not tied to government printing presses like the dollar, euro, yen and yuan. But if you’re a crypto novice, you might be wondering what all the fuss is about — and how exactly you can invest in bitcoin.

WEC Energy To Buy 90% Stake In Sapphire Sky Wind Energy Center For $412 Mln – Quick Facts

WEC Energy Group (WEC) announced Tuesday that the company has agreed to acquire a 90% ownership interest in the Sapphire Sky Wind Energy Center for an investment $412 million. The transaction is subject to receiving all necessary regulatory approvals.

The McLean County, Illinois-based project is being developed by Invenergy, a leading global developer and operator of sustainable energy solutions.

The Sapphire Sky site will consist of 64 wind turbines with a combined capacity of 250 megawatts. Commercial operation is expected by the end of 2022.

Sapphire Sky will generate renewable energy that will be sold under a long-term power purchase agreement with a Fortune 100 global, high-tech company.

With this project, the company’s Infrastructure segment has planned investments in eight major wind farms totaling more than 1.5 gigawatts of capacity.