SEC reportedly probing Altria’s Juul investment

The Securities and Exchange Commission has launched an investigation into Altria’s investment in e-cigarette start-up Juul Labs, the Wall Street Journal reported on Friday. Regulators are examining whether the tobacco company sufficiently disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018, sources told the Journal. Altria took a $4.1 billion impairment charge for its investment in Juul in January. Juul is being sued by multiple states for its role


The Securities and Exchange Commission has launched an investigation into Altria’s investment in e-cigarette start-up Juul Labs, the Wall Street Journal reported on Friday.
Regulators are examining whether the tobacco company sufficiently disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018, sources told the Journal.
Altria took a $4.1 billion impairment charge for its investment in Juul in January.
Juul is being sued by multiple states for its role
SEC reportedly probing Altria’s Juul investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: hannah miller
Keywords: news, cnbc, companies, altria, investment, probing, sources, juul, sec, startup, reportedly, stake, told, investigation, journal, altrias


SEC reportedly probing Altria's Juul investment

The Securities and Exchange Commission has launched an investigation into Altria’s investment in e-cigarette start-up Juul Labs, the Wall Street Journal reported on Friday.

Regulators are examining whether the tobacco company sufficiently disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018, sources told the Journal. Altria’s stake valued the start-up at $38 billion.

Altria took a $4.1 billion impairment charge for its investment in Juul in January. The company said the charge reflects the growing legal charges against Juul and the expectation that the number of lawsuits will only increase. Juul is being sued by multiple states for its role in promoting vaping among teens and children.

Juul and Altria have both responded to subpoenas from the SEC, sources told the Journal. The e-cigarette maker turned over documents to the SEC that included correspondence with Altria and financial projections that it gave to Altria prior to its decision to invest in Juul, one person said to the Journal.

When reached by CNBC, Altria declined to comment. Juul did not immediately respond to CNBC’s request for comment.

Read more about the investigation in the Journal’s report.


Company: cnbc, Activity: cnbc, Date: 2020-02-21  Authors: hannah miller
Keywords: news, cnbc, companies, altria, investment, probing, sources, juul, sec, startup, reportedly, stake, told, investigation, journal, altrias


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Boston Beer founder Jim Koch defends hard seltzer investment after disappointing earnings report

Boston Beer Company co-founder Jim Koch defended its heavy investment in hard seltzer Thursday as shares fell after weak guidance and a per-share earnings miss. Hard seltzer, in particular, demands significant investment because “it’s the biggest thing that’s come into the beer business since light beer,” Koch said. Shares of Boston Beer Company slid 7.6% to $396 Thursday following its after-the-bell earnings report a day earlier. “We really don’t know how far is up” for hard seltzer, Koch said.


Boston Beer Company co-founder Jim Koch defended its heavy investment in hard seltzer Thursday as shares fell after weak guidance and a per-share earnings miss.
Hard seltzer, in particular, demands significant investment because “it’s the biggest thing that’s come into the beer business since light beer,” Koch said.
Shares of Boston Beer Company slid 7.6% to $396 Thursday following its after-the-bell earnings report a day earlier.
“We really don’t know how far is up” for hard seltzer, Koch said.
Boston Beer founder Jim Koch defends hard seltzer investment after disappointing earnings report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, defends, truly, hard, beer, disappointing, seltzer, jim, light, investment, koch, report, growth, seltzers, boston, founder, earnings


Boston Beer founder Jim Koch defends hard seltzer investment after disappointing earnings report

Boston Beer Company co-founder Jim Koch defended its heavy investment in hard seltzer Thursday as shares fell after weak guidance and a per-share earnings miss.

“Sometimes growth, it’s not cheap, particularly in something capital-intensive like beer,” Koch said on “Closing Bell.”

Hard seltzer, in particular, demands significant investment because “it’s the biggest thing that’s come into the beer business since light beer,” Koch said.

Shares of Boston Beer Company slid 7.6% to $396 Thursday following its after-the-bell earnings report a day earlier. It posted earnings of $1.12 per share for the fourth quarter while analysts had forecast earnings of $1.47 per share.

It also reported full-year EPS guidance of $10.70 to $11.70. Wall Street consensus had been $11.72.

Boston Beer CEO David Burwick said on the earnings call that margins will continue to suffer as it increases capacity to meet demand around hard seltzer.

“We expect this program to run for two to three years and begin showing margin improvement by the first half of 2021,” he said, according to a transcript from The Motley Fool.

The Samuel Adams brewer said it saw triple-digit growth around its hard seltzer brand, Truly, which helped deliver quarterly revenue of $301.3 million. It represents a 33.8% increase compared with the prior year.

Despite Thursday’s slide, Boston Beer’s stock remains up 47% in the past 12 months as the hard seltzer category exploded.

“Let’s not get distracted by what happens today or tomorrow,” Koch said in defense of the company’s strategy. “Let’s make sure we’re building for the future.”

And that’s a future in which Truly plays a critical role, said Koch, who launched the Boston Beer Company in his kitchen in 1984.

The hard seltzer category experienced significant growth and increased competition in 2019 as big players such as Anheuser-Busch launched products to compete with Truly and White Claw.

Constellation Brands also said it plans to launch a line of Corona hard seltzers this spring.

Hard seltzer makes up 2.6% of the total U.S. market for alcohol, which is an increase from 0.85% a year ago, according to the IWSR.

“We really don’t know how far is up” for hard seltzer, Koch said.

So far, Koch said, the fresh competition from Bud Light Seltzer has not hurt Truly’s popularity among consumers.

“We were actually very pleased with the entrance of Bud Light Seltzer,” he said. “Since Bud Light Seltzer’s been introduced, we’re the only hard seltzer that actually gained market share.”

Koch said hard seltzer’s growth has far exceeded what Boston Beer expected when it launched Truly about four years ago. It’s appealing to a wider range of consumers than they thought, Koch said.

“It kind of presses all the buttons. Great taste. Not much compromise. Health and wellness cues,” Koch said. “We think that the category can double again in 2020.”


Company: cnbc, Activity: cnbc, Date: 2020-02-20  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, defends, truly, hard, beer, disappointing, seltzer, jim, light, investment, koch, report, growth, seltzers, boston, founder, earnings


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Abu Dhabi makes pitch to private sector in multi-billion dollar investment drive

The Abu Dhabi Government is turning to the private sector for the next phase of its multi-year, 50 billion dirham ($13.6 billion) economic stimulus plan known as Ghadan 21. “It’s important to bring in the private sector,” Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, told CNBC’s “Capital Connection” in an exclusive interview on Wednesday. Abu Dhabi, the capital of the United Arab Emirates, said it will seek to procure approximately 10 billion dirhams worth of


The Abu Dhabi Government is turning to the private sector for the next phase of its multi-year, 50 billion dirham ($13.6 billion) economic stimulus plan known as Ghadan 21.
“It’s important to bring in the private sector,” Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, told CNBC’s “Capital Connection” in an exclusive interview on Wednesday.
Abu Dhabi, the capital of the United Arab Emirates, said it will seek to procure approximately 10 billion dirhams worth of
Abu Dhabi makes pitch to private sector in multi-billion dollar investment drive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: dan murphy
Keywords: news, cnbc, companies, multibillion, sector, makes, drive, private, projects, dhabi, stimulus, social, abu, dollar, growth, billion, shorafa, investment, pitch


Abu Dhabi makes pitch to private sector in multi-billion dollar investment drive

The Abu Dhabi Government is turning to the private sector for the next phase of its multi-year, 50 billion dirham ($13.6 billion) economic stimulus plan known as Ghadan 21.

The stimulus package is aimed at future-proofing and diversifying the Arab world’s second-largest economy, with demand for its lucrative hydrocarbon exports likely to peak in the next two decades and rising external risks challenging its growth outlook.

“It’s important to bring in the private sector,” Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development, told CNBC’s “Capital Connection” in an exclusive interview on Wednesday.

Abu Dhabi, the capital of the United Arab Emirates, said it will seek to procure approximately 10 billion dirhams worth of infrastructure projects across a range of sectors under its public-private partnership model.

The model also aims to provide the private sector with more certainty and transparency around the development and procurement of major infrastructure projects.

“We believe as a government, and as the leadership in Abu Dhabi, that the private sector is an important partner in this,” Al Shorafa added, saying the projects will cast a wide net, focusing on the social, municipal and transportation sectors.

Ghadan 21 has launched more than 50 proposals in its first year and officials say further plans will be rolled out in 2020 and 2021 to build on the reform momentum.

It comes after the International Monetary Fund warned last year that achieving sustainable, private-sector-led growth will require Abu Dhabi to capitalize on new growth drivers that are decoupled from oil prices.

“The government and the leadership have taken the direction of trying to reduce dependency on hydrocarbon revenues,” Al-Shorafa said. “We have to be as diversified as possible,” he added.

Measures also include incentive packages, new licenses and increased funding opportunities for businesses and small to medium-sized businesses; grants and access to resources for innovators within the start-up ecosystem, and a deep social spend that will see new investment in public parks and greenspaces.


Company: cnbc, Activity: cnbc, Date: 2020-02-19  Authors: dan murphy
Keywords: news, cnbc, companies, multibillion, sector, makes, drive, private, projects, dhabi, stimulus, social, abu, dollar, growth, billion, shorafa, investment, pitch


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Global growth will benefit after coronavirus: Bokeh Capital Partners CIO

Global growth will benefit after coronavirus: Bokeh Capital Partners CIOKim Forrest, founder and chief investment officer at Bokeh Capital Partners, and David Ellison, portfolio manager at Hennessy Funds, join ‘The Exchange’ to discuss markets.


Global growth will benefit after coronavirus: Bokeh Capital Partners CIOKim Forrest, founder and chief investment officer at Bokeh Capital Partners, and David Ellison, portfolio manager at Hennessy Funds, join ‘The Exchange’ to discuss markets.
Global growth will benefit after coronavirus: Bokeh Capital Partners CIO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-19
Keywords: news, cnbc, companies, cio, coronavirus, officer, manager, growth, hennessy, portfolio, partners, capital, global, benefit, markets, investment, join, bokeh


Global growth will benefit after coronavirus: Bokeh Capital Partners CIO

Global growth will benefit after coronavirus: Bokeh Capital Partners CIO

Kim Forrest, founder and chief investment officer at Bokeh Capital Partners, and David Ellison, portfolio manager at Hennessy Funds, join ‘The Exchange’ to discuss markets.


Company: cnbc, Activity: cnbc, Date: 2020-02-19
Keywords: news, cnbc, companies, cio, coronavirus, officer, manager, growth, hennessy, portfolio, partners, capital, global, benefit, markets, investment, join, bokeh


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Experts share their best advice for making your first investment

Analysts suspect that the savings shortfall could have major implications for long-term financial goals. CNBC Make It spoke to some experts to find out their top tips for getting started. Set a goalBefore you begin thinking about your first investment, or choosing the type of vehicle to use, it’s crucial to figure out what you’re doing it for, experts said. Arora agreed, saying investors should be true to themselves: “If you’re not comfortable with what you’re doing this for, you will end up mak


Analysts suspect that the savings shortfall could have major implications for long-term financial goals.
CNBC Make It spoke to some experts to find out their top tips for getting started.
Set a goalBefore you begin thinking about your first investment, or choosing the type of vehicle to use, it’s crucial to figure out what you’re doing it for, experts said.
Arora agreed, saying investors should be true to themselves: “If you’re not comfortable with what you’re doing this for, you will end up mak
Experts share their best advice for making your first investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-18  Authors: karen gilchrist
Keywords: news, cnbc, companies, ferrario, goal, investors, wealth, experts, financial, advice, figure, longterm, best, share, making, investment, thats, youre


Experts share their best advice for making your first investment

Making your first investment can feel like a daunting prospect. Memories of the global financial crisis — and subsequent market dips — hang heavy for savers, particularly those who came of age during the 2008 downturn. Multiple studies point to millennials’ and Gen Z’s skepticism toward investing: One Bankrate report found that just 23% of those between 18 and 37 years of age saw the stock market as the best long-term money store. That’s compared to 33% of Gen X (those between 38 and 52 years old) and 38% of baby boomers (people between 54 and 74 years old). But with low, and in some places negative, interest rates continuing to suppress cash savings globally, sitting on the sidelines could do more harm than good. Analysts suspect that the savings shortfall could have major implications for long-term financial goals. A recent study from Standard Chartered, for instance, found the majority of savers in the fastest-growing economies are set to miss their retirement goals by 50%. The good news, however, is that it’s easier today than ever to invest; new technologies and a host of digital wealth managers have opened up entry into lower-risk investments from anywhere in the world. CNBC Make It spoke to some experts to find out their top tips for getting started.

Set a goal

Before you begin thinking about your first investment, or choosing the type of vehicle to use, it’s crucial to figure out what you’re doing it for, experts said. Dhruv Arora, CEO of digital wealth manager Syfe, recommended starting with a specific life goal — such as a wedding or retirement — rather than an “arbitrary numerical figures.” “Rather than throwing up a number, try and be a bit scientific about it,” said Arora, noting that online calculators can help you figure out an investment strategy as a proportion of your income. That doesn’t mean you must stay with that plan: “Your goals may change over time, and that’s fair,” said Michele Ferrario of online wealth platform StashAway. But it creates a tangible reward to work toward.

Figure out your timeline

Next up, figure out how much time you have to reach that goal. That will help you figure out how much you need to put away each month in order to get there. As a general rule, financial advisors recommend a 50/30/20 strategy, whereby 50% of your income goes to living expenses, 30% to discretionary spending — or wants — and 20% to savings. However, that may vary depending on your goal and time horizon. Often the more you can put in early on, the better. That’s due to compound interest, which enables you to earn interest on your returns. But Ferrario cautioned investors to be realistic. “Understand what you can afford,” he said. “If you start baking into your plan the fact that you’re to have a great career, you may be disappointed. Start with what you know you have, and then over time, you can adjust it.”

Emilija Manevska

Know your risk tolerance

Alongside timeline, you need to know your risk tolerance. More often than not, the two will be intertwined. “If you’re a millennial, your objectives are likely to be quite long-term in nature,” said Steve Brice, chief investment strategist at Standard Chartered, noting that may give you a greater risk tolerance. However, Brice noted there’s no one-size-fits-all approach. He recommended doing a scenario analysis to see how you respond to different events to ensure future downturns don’t “blindside” you. Arora agreed, saying investors should be true to themselves: “If you’re not comfortable with what you’re doing this for, you will end up making the wrong investment.”

Get diversified

Once you’ve pinned down your goal and your strategy, it’s time to work out the best investment vehicle for you. For many first time investors, that will be a passively managed index fund, which gives you access to major market indices, or a low-cost digital wealth manager which will build a portfolio on your behalf. The most important element to look for, however, is diversification, experts said. This means building in exposure to different asset classes, such as equities, bonds and alternatives like property, as well as different geographies. “You need to have a portfolio that’s diversified and doesn’t make you lose sleep,” said Ferrario. “You should be building a portfolio that’s resilient to different risks,” Brice added. Their advice closely mirrors that of legendary investor Warren Buffett. The 89-year-old self-made billionaire has long advocated long-term, low-risk investing that focuses on a diversified and detached approach.

Remember fees

While digital wealth platforms have helped lower barriers to entry, the fees charged can vary across the board, so it’s important to know where your money is going. As Ferrario put it, unlike other purchases, “the thing you’re buying when you invest is returns.” American online financial advisor Betterment, for instance, charges a low annual fee of 0.25% on assets under management, helping it nab the title of best platform for new investors in a recent report. The annual fees charged by U.S. robo-investors often hover between 0.25% and 0.89% — well below the several percentage points charged by traditional wealth managers. Investors elsewhere in the world can find comparably low fees. Europe’s Moneyfarm charges approximately 0.7% per year, while in Asia, StashAway charges up to 0.8% and Syfe up to 0.65% — both with no exit fees.

Forget about it


Company: cnbc, Activity: cnbc, Date: 2020-02-18  Authors: karen gilchrist
Keywords: news, cnbc, companies, ferrario, goal, investors, wealth, experts, financial, advice, figure, longterm, best, share, making, investment, thats, youre


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T. Rowe Price’s investment in WeWork is their fault: Walter Isaacson

T. Rowe Price’s investment in WeWork is their fault: Walter IsaacsonCNBC’s “Closing Bell” team discusses the problems plaguing WeWork with Walter Isaacson, advisory partner at Perella Weinberg and CNBC contributor, and Mike Isaac, technology reporter with The New York Times.


T. Rowe Price’s investment in WeWork is their fault: Walter IsaacsonCNBC’s “Closing Bell” team discusses the problems plaguing WeWork with Walter Isaacson, advisory partner at Perella Weinberg and CNBC contributor, and Mike Isaac, technology reporter with The New York Times.
T. Rowe Price’s investment in WeWork is their fault: Walter Isaacson Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14
Keywords: news, cnbc, companies, weinberg, technology, wework, isaacson, rowe, walter, reporter, problems, times, investment, team, fault, york, prices


T. Rowe Price's investment in WeWork is their fault: Walter Isaacson

T. Rowe Price’s investment in WeWork is their fault: Walter Isaacson

CNBC’s “Closing Bell” team discusses the problems plaguing WeWork with Walter Isaacson, advisory partner at Perella Weinberg and CNBC contributor, and Mike Isaac, technology reporter with The New York Times.


Company: cnbc, Activity: cnbc, Date: 2020-02-14
Keywords: news, cnbc, companies, weinberg, technology, wework, isaacson, rowe, walter, reporter, problems, times, investment, team, fault, york, prices


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Talks to sell Victoria’s Secret to Sycamore Partners to spill into next week

Talks to sell L Brands’ Victoria’s Secret brand to private equity firm Sycamore Partners will spill into next week, as the complex deal structure creates headaches for its advisors, people familiar with the situation said. L Brands had hoped to complete a deal by the end of this week, people familiar with the situation previously said. Sycamore is simultaneously exploring an acquisition of L Brands’ Victoria’s Secret brand and, separately, a private investment in public equity, or PIPE, into L B


Talks to sell L Brands’ Victoria’s Secret brand to private equity firm Sycamore Partners will spill into next week, as the complex deal structure creates headaches for its advisors, people familiar with the situation said.
L Brands had hoped to complete a deal by the end of this week, people familiar with the situation previously said.
Sycamore is simultaneously exploring an acquisition of L Brands’ Victoria’s Secret brand and, separately, a private investment in public equity, or PIPE, into L B
Talks to sell Victoria’s Secret to Sycamore Partners to spill into next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: lauren hirsch
Keywords: news, cnbc, companies, deal, brands, victorias, familiar, sycamore, billion, company, firm, week, spill, talks, secret, sell, partners, investment


Talks to sell Victoria's Secret to Sycamore Partners to spill into next week

Josephine Skriver attends the debut of Victoria’s Secret’s new fall collection at Natick Mall on August 17, 2019 in Natick, Massachusetts.

Talks to sell L Brands’ Victoria’s Secret brand to private equity firm Sycamore Partners will spill into next week, as the complex deal structure creates headaches for its advisors, people familiar with the situation said.

L Brands had hoped to complete a deal by the end of this week, people familiar with the situation previously said. The company is now aiming to announce a deal as soon as Tuesday, people familiar with the matter said. They spoke on terms of anonymity because the deal talks are confidential.

Sycamore is simultaneously exploring an acquisition of L Brands’ Victoria’s Secret brand and, separately, a private investment in public equity, or PIPE, into L Brands, to address the parent company’s debt load, the people familiar said. The two are focused primarily on the sale of Victoria’s Secret, which they hope to get done with or without a PIPE.

The delay highlights the pressure L Brands is under as it grapples with a heavy debt load and the sluggish Victoria’s Secret brand. Those business challenges have been exacerbated amid scrutiny of L Brands Chairman and CEO Les Wexner and his ties to the late sex criminal Jeffrey Epstein.

Wexner is in talks to step down as CEO as part of the deal, one of the people familiar with the situation said.

Wexner’s dual role as chairman and CEO came under fire last year, when activist firm Barington Capital disclosed a stake in L Brands. Barington Capital criticized the L Brands board for its close social ties and pushed the company to split its Victoria’s Secret and the stronger-performing Bath & Body Works businesses. L Brands and Barington reached a truce last year that added the investment firm as a special advisor and two new directors to its board. The truce is set to expire this month.

L Brands had total debt of roughly $9 billion as of October 2019, according to FactSet. It has a market capitalization of $6.7 billion.

Sycamore has invested in public companies before. The investment firm in 2014 offered up a $150 million credit facility for then publicly traded company Aeropostale. The investment later put the two at odds, when Aeropostale accused Sycamore of helping to drive the company into bankruptcy. A bankruptcy judge ultimately took Sycamore’s side in the dispute.

A deal price for Victoria’s Secret could not be immediately determined, but analysts at MKM Partners earlier this week estimated a sale of the lingerie retailer could fetch $2 billion to $3.4 billion. The company generates roughly $7 billion in sales, a little more than half of L Brands’ business, according to FactSet.

L Brands and Sycamore declined to comment.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: lauren hirsch
Keywords: news, cnbc, companies, deal, brands, victorias, familiar, sycamore, billion, company, firm, week, spill, talks, secret, sell, partners, investment


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NBA champ and tech investor Andre Iguodala counts Zoom’s triple since IPO as best investment

The three-time NBA champion also has amassed an investment portfolio of more than 40 companies. Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best funding decision yet is Zoom Video Communications. Iguodala said Datadog has been another successful investment for him, noting the New York-based software company beat analyst expectations in its quarterly results released Thursday. Iguodala has been involved in investment deals that total $294 million, according


The three-time NBA champion also has amassed an investment portfolio of more than 40 companies.
Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best funding decision yet is Zoom Video Communications.
Iguodala said Datadog has been another successful investment for him, noting the New York-based software company beat analyst expectations in its quarterly results released Thursday.
Iguodala has been involved in investment deals that total $294 million, according
NBA champ and tech investor Andre Iguodala counts Zoom’s triple since IPO as best investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, video, grown, zoom, nba, company, zooms, jumia, iguodala, triple, ipo, investment, counts, trading, investor, champ, tech, software


NBA champ and tech investor Andre Iguodala counts Zoom's triple since IPO as best investment

Andre Iguodala has built a reputation that goes far beyond his on-court defense. The three-time NBA champion also has amassed an investment portfolio of more than 40 companies.

Iguodala has invested in Allbirds, Casper and Jumia, but he told CNBC on Friday his best funding decision yet is Zoom Video Communications.

“Zoom has done really well,” Iguodala said on “Squawk Alley.” “They’ve just been getting after it. It’s showing in the stock price, but I think it … will continue to grow.”

Zoom, a cloud-based video conferencing and collaboration provider, went public in April at $36 per share.

It soared on its first day of trading, and despite a steep decline in the fall, its shares were around $90 Friday — a 150% increase from its IPO. Founded in 2011, Zoom has a market cap just shy of $25 billion.

Iguodala, who was recently traded to the Miami Heat from the Memphis Grizzlies, said he has grown a strong interest in enterprise software companies — not necessarily something a 15-year NBA veteran would otherwise be using on a daily basis.

“I’ve grown to learn and grown to put a lot of my thought and effort into learning the space and playing catch up,” Iguodala, 36, said. “Being a professional athlete, you tend to not know about that space because it’s not the sexy something that everyone’s talking about.”

“But in terms of growth, I think that’s what’s moving the tech sector more than anything else,” he continued.

Iguodala said Datadog has been another successful investment for him, noting the New York-based software company beat analyst expectations in its quarterly results released Thursday.

Iguodala, who spent six seasons and won three titles near Silicon Valley while playing for the Golden State Warriors, is on the board of Jumia, an e-commerce company based in Lagos, Nigeria.

Upon Jumia completing its IPO in April, Iguodala became the first active major-sport professional athlete to be on the board of a public company, his business partner Rudy Cline-Thomas recently told MarketWatch.

Jumia has struggled mightily since its IPO, however. It hit its 52-week high of $49.77 shortly after its debut but was trading near $5.60 on Friday.

Iguodala has been involved in investment deals that total $294 million, according to data from Pitchbook.

The former Philadelphia 76er doesn’t just focus on enterprise software. He was a Series A investor in Allbirds, the environmentally conscious shoe company, and he also invested in direct-to-consumer mattress company Casper.

Casper held its IPO last week. It opened at $14.50 per share, giving it a market cap well below its most recent private valuation, and has struggled so far. The stock was trading just above $10 on Friday.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, video, grown, zoom, nba, company, zooms, jumia, iguodala, triple, ipo, investment, counts, trading, investor, champ, tech, software


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RBS to slash investment bank, rebrand as NatWest

Royal Bank of Scotland’s new Chief Executive Alison Rose unveiled a new strategy for the taxpayer-backed bank on Friday, including radically cutting back the size of its loss-making investment bank and renaming the company NatWest. Rose, the first woman to lead one of Britain’s major banks, is hoping a rebrand will help shift the lender’s image away from its 45 billion pound taxpayer rescue in the 2008 financial crisis. The strategy includes plans to halve investment bank NatWest Markets’ risk w


Royal Bank of Scotland’s new Chief Executive Alison Rose unveiled a new strategy for the taxpayer-backed bank on Friday, including radically cutting back the size of its loss-making investment bank and renaming the company NatWest.
Rose, the first woman to lead one of Britain’s major banks, is hoping a rebrand will help shift the lender’s image away from its 45 billion pound taxpayer rescue in the 2008 financial crisis.
The strategy includes plans to halve investment bank NatWest Markets’ risk w
RBS to slash investment bank, rebrand as NatWest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14
Keywords: news, cnbc, companies, strategy, turning, banks, pounds, billion, unveiled, rbs, slash, weighted, rebrand, bank, woman, natwest, investment


RBS to slash investment bank, rebrand as NatWest

Royal Bank of Scotland’s new Chief Executive Alison Rose unveiled a new strategy for the taxpayer-backed bank on Friday, including radically cutting back the size of its loss-making investment bank and renaming the company NatWest.

Rose, the first woman to lead one of Britain’s major banks, is hoping a rebrand will help shift the lender’s image away from its 45 billion pound taxpayer rescue in the 2008 financial crisis.

The strategy includes plans to halve investment bank NatWest Markets’ risk weighted assets to 20 billion pounds ($26.10 billion) and a string of green targets such as halving the impact of the bank’s climate financing by 2030.

The lender reported better than expected pre-tax profits of 4.2 billion pounds for 2019, 24% higher than 2018 and above analyst expectations.

It is the bank’s third straight year in the black, as it begins turning a corner following years of heavy losses and scandals.


Company: cnbc, Activity: cnbc, Date: 2020-02-14
Keywords: news, cnbc, companies, strategy, turning, banks, pounds, billion, unveiled, rbs, slash, weighted, rebrand, bank, woman, natwest, investment


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NFL star Adrian Peterson embroiled in a dispute with Morgan Stanley

Adrian Peterson is heading to arbitration against Morgan Stanley Wealth Management over an investment dispute, the latest entry in a series of financial issues for the 34-year-old NFL star. Brokerage houses and investment advisors often have clients agree to private arbitration to resolve disagreements. Peterson reportedly has earned more than $100 million over the course of 12 years with the NFL. He is representing Peterson, along with Sam Edwards and Ryan Cook of Shepherd Smith Edwards & Kanta


Adrian Peterson is heading to arbitration against Morgan Stanley Wealth Management over an investment dispute, the latest entry in a series of financial issues for the 34-year-old NFL star.
Brokerage houses and investment advisors often have clients agree to private arbitration to resolve disagreements.
Peterson reportedly has earned more than $100 million over the course of 12 years with the NFL.
He is representing Peterson, along with Sam Edwards and Ryan Cook of Shepherd Smith Edwards & Kanta
NFL star Adrian Peterson embroiled in a dispute with Morgan Stanley Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: darla mercado
Keywords: news, cnbc, companies, dispute, washington, private, embroiled, morgan, adrian, peterson, arbitration, nfl, stanley, edwards, wrote, star, investment


NFL star Adrian Peterson embroiled in a dispute with Morgan Stanley

Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland.

Adrian Peterson is heading to arbitration against Morgan Stanley Wealth Management over an investment dispute, the latest entry in a series of financial issues for the 34-year-old NFL star.

Details of the claim are scarce, as arbitration is a private way for the two sides to hash out a disagreement before a third party – and keep it out of the public eye as would be the case when filing suit in court.

Brokerage houses and investment advisors often have clients agree to private arbitration to resolve disagreements.

Peterson reportedly has earned more than $100 million over the course of 12 years with the NFL. He’s currently in the middle of a two-year contract with the Washington Redskins.

“The arbitration is ongoing. We have no further comment,” wrote Chase Carlson of Carlson Law, in an email to CNBC.

He is representing Peterson, along with Sam Edwards and Ryan Cook of Shepherd Smith Edwards & Kantas in Houston.

“We are defending against these claims, which we believe are without merit,” wrote Christine Jockle, a spokeswoman for Morgan Stanley, in an email.

The Athletic originally reported on the dispute between the athlete and the brokerage firm.


Company: cnbc, Activity: cnbc, Date: 2020-02-14  Authors: darla mercado
Keywords: news, cnbc, companies, dispute, washington, private, embroiled, morgan, adrian, peterson, arbitration, nfl, stanley, edwards, wrote, star, investment


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