• Billionaire Kroenke Gets Record Naming Rights Fee From SoFi
    Bloomberg

    Billionaire Kroenke Gets Record Naming Rights Fee From SoFi

    (Bloomberg) -- Social Finance Inc., a financial technology startup, will pay more than $30 million annually over 20 years to put its name on a new stadium that will be the home of the Los Angeles Rams and the Chargers, a person familiar with the deal said.The amount is a record for any naming rights for a sports venue, the person said, declining to be identified because the information is not public.The National Football League stadium in Inglewood, California, which is developed by billionaire Stan Kroenke, will open next summer, according to a joint statement from SoFi, the venue and teams, which declined to disclose the financial terms of the agreement.The $5 billion stadium will host the Super Bowl in 2022, as well as the opening and closing ceremonies of the 2028 Olympic Games. SoFi will also be an official partner of the Rams and Chargers, it said.“This is a giant leap toward achieving our company’s mission of helping people get their money right by reaching our members where they are,” SoFi’s Chief Executive Officer Anthony Noto, a former NFL executive,said in the statement.SoFi has a large marketing budget, which has surpassed $200 million annually for the last few years, as the firm launches new products and seeks to acquire new customers.Last year, SoFi counted more than 500,000 members and made a larger push into mortgage lending as well as its checking and savings product, SoFi Money. Having its name on the stadium of some of the most high-profile teams in the NFL could help boost recognition outside of the financial world.SoFi Stadium, which has more than 3 million square feet of space, can seat 70,000 -- and that could be expanded to 100,000, according to the statement.Last month, American Airlines became the first official partner of the new stadium with an agreement to pay $90 million over 10 years. The airline will sponsor the 2.5-acre space that serves as main entrance to the stadium, a person with knowledge of the matter said at the time.As part of the deal, Fort Worth, Texas-based American Airlines Group Inc. will become the official airline of the Rams and Chargers, and have prominent branding during games. American has been the Rams’ carrier since the team returned to Los Angeles from St. Louis in 2016.To contact the reporter on this story: Scott Soshnick in New York at ssoshnick@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Linus Chua, Ian FisherFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Can Coty's (COTY) Strong Luxury Unit & E-commerce Pare Woes?
    Zacks

    Can Coty's (COTY) Strong Luxury Unit & E-commerce Pare Woes?

    Coty (COTY) gains from continued advancements in the Luxury business and the digital platform. However, sluggishness in the Consumer Beauty segment is a worry.

  • What Kind Of Shareholders Own Qutoutiao Inc. (NASDAQ:QTT)?
    Simply Wall St.

    What Kind Of Shareholders Own Qutoutiao Inc. (NASDAQ:QTT)?

    Every investor in Qutoutiao Inc. (NASDAQ:QTT) should be aware of the most powerful shareholder groups. Institutions...

  • JetBlue's (JBLU) August Traffic Rises, Load Factor Falls
    Zacks

    JetBlue's (JBLU) August Traffic Rises, Load Factor Falls

    With capacity expansion outpacing traffic growth, JetBlue's (JBLU) load factor declines in August.

  • GBP/USD, USD/CAD, USD/MXN – North American Session Daily Forecast
    FX Empire

    GBP/USD, USD/CAD, USD/MXN – North American Session Daily Forecast

    British pound surges, while limited movement for Canadian dollar and Mexican peso. All eyes are on U.S. retail sales, which could shake up the currency markets

  • FX Empire

    Brexit and U.S Retail Sales Put the GBP and the USD in Focus

    It’s risk-on through the Asian session as the markets respond to the ECB move. On the day ahead, the focus will be on Brexit and U.S retail sales figures.

  • Telecom Stock Roundup: Qualcomm Plans Low-Priced 5G Chips, CenturyLink's Deal & More
    Zacks

    Telecom Stock Roundup: Qualcomm Plans Low-Priced 5G Chips, CenturyLink's Deal & More

    While Qualcomm (QCOM) is planning to develop cheap 5G chipsets for the masses, CenturyLink (CTL) aims to strengthen its position in the content delivery network with the acquisition of Steamroot.

  • Company News For Sep 12, 2019
    Zacks

    Company News For Sep 12, 2019

    Companies In The News Are: RH,PLAY,ZS,WYNN

  • Why RH Stock Rose despite Near-Term Concerns
    Market Realist

    Why RH Stock Rose despite Near-Term Concerns

    Analysts have a consensus target price of $171.92 on RH stock, which implies an upside of about 3% based on its closing price of $166.95 on Wednesday.

  • FX Empire

    As Tensions Ease Between the U.S and China, it’s all Eyes on the ECB

    Tensions between the U.S and China ease, supporting risk ahead of the heavily anticipated ECB monetary policy decision later today.

  • China’s Big 3 Struggle To Ramp Up Oil Production
    Oilprice.com

    China’s Big 3 Struggle To Ramp Up Oil Production

    China’s call to its oil majors to increase energy production from domestic sources has resonated with the big 3, but production successes aren’t mind-blowing just yet

  • London Banker Taking Fresh Crack at LSE Deal That Got Away
    Bloomberg

    London Banker Taking Fresh Crack at LSE Deal That Got Away

    (Bloomberg) -- Moelis & Co. dealmaker Caroline Silver, one of the most prolific bankers in stock exchange M&A, is taking a fresh crack at London Stock Exchange Group Plc with an eye to minting the world’s second-biggest market powerhouse.Three years after Silver’s client Intercontinental Exchange Inc. walked away from a potential LSE takeover, she’s now advising Hong Kong Exchanges & Clearing Ltd. on its shock attempt to buy the storied U.K. bourse operator. The potential $36.6 billion transaction could end up being one of the biggest deals of the London banker’s three-decade career.Rivals respect Silver’s ability to work on big, complex deals with a U.K. angle at a time when Brexit is putting a cloud over the country’s financial services sector. She’s long been at the center of the biggest exchange transactions, advising Euronext NV on its 2001 initial public offering and on its sale six years later to the owner of the New York Stock Exchange.The banker also helped Sweden’s OMX AB during its 2007 purchase by Nasdaq Stock Market Inc. and worked on Borsa Italiana SpA’s takeover by LSE. Her ties to Hong Kong date back at least to 2012, when she advised the London Metal Exchange Ltd. on its $2.2 billion sale to HKEX at a heady valuation.Risky BetHer latest move is a risky bet that HKEX will succeed in its near-hostile attempt to buy LSE. It would be by far the Asian bourse operator’s largest-ever acquisition and help it diversify away from its dependence on Chinese listings and an increasingly fraught political climate at home.If the gambit succeeds, it would knock down another blockbuster deal -- LSE’s proposed $27 billion acquisition of Refinitiv that would make the exchange a big player in financial data.The LSE deal is a very high-profile win for Moelis and shows their improved presence overseas, said Devin Ryan, an analyst at JMP Securities.“They are probably a bit better known for strength in middle market and in the financial sponsor community -- this is at the higher end of the spectrum,” Ryan said. “It’s clearly a sign of strength they have in the exchange sector. They have a great banker in that space.”Fees LeapThe LSE deal would be a big boost to Moelis’s league table rankings in a year where it’s trailing many of its rivals in the boutique space. Silver and her team would reap $60 million to $70 million in fees if the purchase goes ahead, according to consulting firm Freeman & Co.Before the transaction was announced, Moelis ranked 20th among M&A advisers globally this year, data compiled by Bloomberg show. That’s behind Evercore Partners Inc., which ranked fifth, and PJT Partners Inc., which came in at No. 9. Centerview Partners LLC is 11th while Lazard ranks 12th.\--With assistance from Dinesh Nair and Aaron Kirchfeld.To contact the reporters on this story: Jan-Henrik Förster in London at jforster20@bloomberg.net;Sonali Basak in New York at sbasak7@bloomberg.netTo contact the editors responsible for this story: Dinesh Nair at dnair5@bloomberg.net, Ben Scent, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Could The 360 Finance, Inc. (NASDAQ:QFIN) Ownership Structure Tell Us Something Useful?
    Simply Wall St.

    Could The 360 Finance, Inc. (NASDAQ:QFIN) Ownership Structure Tell Us Something Useful?

    A look at the shareholders of 360 Finance, Inc. (NASDAQ:QFIN) can tell us which group is most powerful. Institutions...

  • Delta: Lowest Cancellation Rate of Top Four US Airlines
    Market Realist

    Delta: Lowest Cancellation Rate of Top Four US Airlines

    In August, Delta Air Lines had the lowest flight cancellation rate and the best on-time performance versus its top peers—Southwest, United, and American.

  • New Strong Sell Stocks for September 11th
    Zacks

    New Strong Sell Stocks for September 11th

    Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today.

  • Zacks

    RH Q2 Earnings & Revenues Beat, View Up, Shares Rise 3.5%

    Higher revenues and margins help RH to post better-than-expected fiscal Q2 earnings.

  • Ericsson to Boost Next-Tech Wireless' Network Capabilities
    Zacks

    Ericsson to Boost Next-Tech Wireless' Network Capabilities

    In addition to improving operational efficiency, Ericsson (ERIC) will augment the network capabilities of Next-Tech Wireless for seamless IoT applications and other potential future services.

  • CenturyLink Buys Steamroot to Boost Content Delivery Network
    Zacks

    CenturyLink Buys Steamroot to Boost Content Delivery Network

    The acquisition will enable CenturyLink (CTL) to enrich its video content offerings in bandwidth constrained areas by utilizing edge computing and data driven approach of Steamroot.

  • 737 MAX Crisis Hurts Boeing Aircraft Deliveries
    Market Realist

    737 MAX Crisis Hurts Boeing Aircraft Deliveries

    Due to the 737 MAX's grounding, Boeing (BA) has seen a massive decline in aircraft deliveries. BA shipped 18 commercial aircraft in August, down 72% YoY.

  • Estee Lauder (EL) Up 44% in a Year: Factors Driving the Stock
    Zacks

    Estee Lauder (EL) Up 44% in a Year: Factors Driving the Stock

    Estee Lauder (EL) focuses on enhancing travel retail business. Also, robust online network bodes well.

  • How Does Viasat, Inc. (NASDAQ:VSAT) Affect Your Portfolio Volatility?
    Simply Wall St.

    How Does Viasat, Inc. (NASDAQ:VSAT) Affect Your Portfolio Volatility?

    If you own shares in Viasat, Inc. (NASDAQ:VSAT) then it's worth thinking about how it contributes to the volatility of...

  • Stocks - GameStop, Tilray Fall Premarket; Apple, Micron Rise
    Investing.com

    Stocks - GameStop, Tilray Fall Premarket; Apple, Micron Rise

    Investing.com - Stocks in focus in premarket trading on Wednesday:

  • Verizon (VZ) Brings 5G Ultra Wideband to Mcity Test Facility
    Zacks

    Verizon (VZ) Brings 5G Ultra Wideband to Mcity Test Facility

    As part of Mcity's leadership circle, Verizon (VZ) is actively developing various 5G solutions designed to increase pedestrian safety and avoid car accidents.