Articles by Daniel Marsh
SK Hynix ADR Premium Signals Potential Conversion Ahead of Earnings
SK Hynix ADR premium surges to 42%, signaling potential conversion arbitrage. Seoul shares tumbled 11.5% as KOSPI fell 6.37% amid rate hike and ETF rule changes.
Nasdaq and Dow Diverge as Steady Data Tests Tech Valuations
U.S. stock futures fell Thursday as steady economic data widened the gap between the Nasdaq and Dow, with TSMC dropping 4.6% despite strong earnings and UnitedHealth rising 6.7%.
UK Mid-Caps Rally on Rotork Takeover; FTSE 100 Slips
London stocks were mixed on Thursday with the FTSE 250 gaining 0.33% on a £4.14bn takeover bid for Rotork, while the FTSE 100 slipped 0.34%.
Sandisk's $22.6B Selloff Tests Revenue Conversion of $41.6B Order Backlog
Sandisk's market cap dropped $22.6B, 3.6 times its near-term revenue backlog, as shares slid 8.1% amid tech fatigue.
Opendoor's Acquisition Pace Outpaces Mortgage Demand as Rates Climb
Opendoor's acquisition contracts rose 3% last week, while mortgage demand dropped 7% as rates hit 6.65%, creating a 10-point gap that could pressure margins.
Red Robin Shutters Cary Location Ahead of $96M Debt Restructuring
Red Robin (RRGB) closed its Cary, NC restaurant and sold the site for $3.3M as the company approaches a $96M debt reset. The refranchising plan could cut debt by over half.
Retirement Savings Target Drops to $1.2M as Plan Borrowing Surges 59%
Americans now target $1.2 million for retirement, down from $1.28 million, as 401(k) borrowing surges 59% and contribution rates fall, per Schroders.
Social Security COLA for 2027 Could Add Up to $63 Billion in Payments
Projected 2027 Social Security COLA of 3.6% to 3.8% adds $59.6-$63 billion to annual payments, with monthly checks rising $74-$75 on average.
AST SpaceMobile's $1B Convertible Bond Bolsters Liquidity by 4.4%
AST SpaceMobile (ASTS) sets terms for $1B convertible bond, raising pro-forma liquidity to $3.61B, but only a 4.4% gain from March after a $735.9M Q2 drop.
Ondas Shares Surge as DZYNE Sellers Clear 40 Million-Share Block
Ondas shares spiked on volume that allows DZYNE's former owners to sell a 40 million-share block, possibly clearing a key overhang. The transaction involves up to 85 million shares and a deferred payout.
DCC Bid Sweetened by Conditional Payout, Yet New Buyers Face 4.4% Spread
DCC's revised takeover proposal from KKR and Energy Capital Partners adds a conditional £1.25 per share tied to the sale of Nexora, but new buyers miss the 147.22p dividend, limiting the maximum value to £66.50.
Lloyds Buyback Nears 72% Completion as Shares Trade Near Double Book Value
Lloyds Banking Group has deployed about 72% of its £1.75 billion buyback, paying an average 111.64p per share, nearly double its tangible book value of 57.9p.