Magnite plans to spend $1.17 billion to acquire SpotX from RTL Group. The implication for investors? Gainers ZHONGCHAO (NASDAQ:ZCMD) stock rose 48.35% to $2.7 during Wednesday's pre-market session. Publishers use our technology to monetize their content across all screens and formats—including desktop, mobile, audio and CTV. These risks include, but are not limited to: the possibility that the closing conditions to the proposed acquisition of SpotX may not be satisfied or waived, including that a governmental entity may not grant a required regulatory approval; delay in closing the proposed acquisition of SpotX or the possibility of non-consummation of the transaction; risks inherent in the achievement of anticipated synergies and the timing thereof; the finalization of our results and SpotX’s results for the fourth quarter and full year 2020 and the audit of their respective 2020 financial statements; our ability to successfully integrate the SpotX business, and realize the anticipated benefits of the acquisition; the severity, magnitude, and duration of the COVID-19 pandemic, including impacts of the pandemic and of responses to the pandemic by governments, business and individuals on our operations, personnel, buyers, sellers, and on the global economy and the advertising marketplace; our ability to grow and to manage our growth effectively; our ability to develop innovative new technologies and remain a market leader; our ability to attract and retain buyers and sellers of digital advertising inventory, or publishers, and increase our business with them; our vulnerability to loss of, or reduction in spending by, buyers; our reliance on large sources of advertising demand, including demand side platforms ("DSPs") that may have or develop high-risk credit profiles or fail to pay invoices when due, including as a result of general liquidity constraints experienced by buyers from the COVID-19 pandemic, which has caused certain buyers to delay payments or seek revised payment terms; our ability to maintain and grow a supply of advertising inventory from sellers and to fill the increased inventory; the effect on the advertising market and our business from difficult economic conditions or uncertainty; the freedom of buyers and sellers to direct their spending and inventory to competing sources of inventory and demand; the ability of buyers and sellers to establish direct relationships and integrations; our ability to cause buyers and sellers to use our solution to purchase and sell higher value advertising and to expand the use of our solution by buyers and sellers utilizing evolving digital media platforms, including CTV; our reliance on large aggregators of advertising inventory, and the concentration of CTV among a small number of large publishers that enjoy significant negotiating leverage; our ability to introduce new offerings and bring them to market in a timely manner, and otherwise adapt in response to client demands and industry trends, including shifts in linear TV to CTV, digital advertising growth from desktop to mobile channels and other platforms and from display to video formats and the introduction and market acceptance of Demand Manager; uncertainty of our estimates and expectations associated with new offerings, the possibility of lower take rates and the need to grow through increasing the volume and/or value of transactions on our platform and increasing our fill rate; our vulnerability to the depletion of our cash resources as a result of the adverse impacts of the COVID-19 pandemic, or as we incur additional investments in technology required to support the increased volume of transactions on our exchange and to develop new offerings; our ability to support our growth objectives in light of reduced resources resulting from the cost reduction initiatives that we implemented; our ability to raise additional capital if needed; our limited operating history and history of losses; our ability to continue to expand into new geographic markets and grow our market share in existing markets; our ability to adapt effectively to shifts in digital advertising; increased prevalence of ad-blocking or cookie-blocking technologies and the slow adoption of common identifiers; the development and use of proprietary identity solutions as a replacement for third party cookies and other identifiers currently used in our platform; the slowing growth rate of desktop display advertising; the growing percentage of online and mobile advertising spending captured by owned and operated sites (such as Facebook, Google and Amazon); the adoption of programmatic advertising by CTV publishers; the effects, including loss of market share, of increased competition in our market and increasing concentration of advertising spending in a small number of very large competitors; the effects of consolidation in the ad tech industry; acts of competitors and other third parties that can adversely affect our business; our ability to differentiate our offerings and compete effectively to combat commodification and disintermediation; the effects of buyer transparency initiatives we may undertake; requests for discounts, fee concessions or revisions, rebates, refunds, favorable payment terms; our ability to ensure a high level of brand safety for our clients and to detect "bot" traffic and other fraudulent or malicious activity; the effects of seasonal trends on our results of operations; costs associated with defending intellectual property infringement and other claims; our ability to attract and retain qualified employees and key personnel; political uncertainty and the ability of the company to attract political advertising spend; our ability to identify future acquisitions of or investments in complementary companies or technologies and our ability to consummate the acquisitions and integrate such companies or technologies; and our ability to comply with, and the effect on our business of, evolving legal standards and regulations, particularly concerning data protection and consumer privacy and evolving labor standards. Adjusted EBITDA should not be considered as an alternative to net income (loss), income (loss) from operations, or any other measure of financial performance calculated and presented in accordance with GAAP. These forward-looking statements represent our estimates and assumptions only as of the date of the report in which they are included. Together, Magnite and SpotX will serve some of the world’s leading programmers, broadcasters, platforms and device manufacturers, including A+E Networks, Crackle Plus, The CW Network, Discovery, Disney/Hulu, Electronic Arts, Fox Corporation, fuboTV, Microsoft, Newsy, Philo TV, Pluto TV, Roku, Samsung, Sling TV, Tubi, ViacomCBS, Vizio, Vudu, WarnerMedia and Xumo. According to Magnite CEO Michael Barrett, the company’s vision is to build a highly scaled independent programmatic CTV and video ad platform. The production started a few months ago and is taking place in both the US and China. Deal Creates Largest Independent CTV & Video Advertising Platform, Full year 2020 combined company estimated non-GAAP net revenue would have been $350 million on a pro forma basis(1)(2), Combined company Connected TV (CTV) & video net revenue would have represented approximately 67% of total company preliminary non-GAAP pro forma net revenue(1)(2) in Q4 2020, On a combined basis, the CTV business would have nearly tripled to $42 million in Q4 2020 versus Magnite standalone, or approximately 34% of Q4 2020 preliminary non-GAAP pro forma net revenue(1)(2), The non-CTV video business of the combined company would have represented approximately 33% of Q4 2020 preliminary non-GAAP pro forma net revenue(1)(2), SpotX total preliminary non-GAAP net revenue(1)(2) for 2020 was $116 million, of which $67 million was CTV, Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021, Magnite’s preliminary results for Q4 2020 include, GAAP Revenue of $82 million, up 69% on an as-reported basis, and up 20% on a pro forma basis from Q4 2019, with CTV revenue of $15.3 million, up 53% on a pro forma basis(1), Net income of $5.8 million and Adjusted EBITDA(3) of $29.9 million, representing a 36% adjusted EBITDA margin(4). The company's market cap stands at $67.2 million. “Timing is … Consumer Brands Are Getting Squeezed by China Tensions. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The post Exxon Mobil Will Keep Paying Its Dividend, And May Be Worth 30% More appeared first on InvestorPlace. They sent a clear message to the country’s largest corporations and their leaders that anti-competitive behavior will have consequences.For Alibaba, the $2.8 billion fine was less severe than many feared and helps lift a cloud of uncertainty hanging over founder Jack Ma’s internet empire. For example, if my 34% higher price target takes two years, the average annual return will be just 16% each year on a compounded basis. Impairment charges are non-cash charges related to goodwill, intangible assets and/or long-lived assets. You are encouraged to evaluate these adjustments, and review the reconciliation of these non-GAAP financial measures to their most comparable GAAP measures, and the reasons we consider them appropriate. That works out to $3.48 per share each year. What to Know. The 18.2 billion yuan penalty was based on just 4% of the internet giant’s 2019 domestic revenue, regulators said. Sie können Ihre Auswahl jederzeit ändern, indem Sie Ihre Datenschutzeinstellungen aufrufen. Find the latest Magnite, Inc. (MGNI) stock quote, history, news and other vital information to help you with your stock trading and investing. Magnite Stock Rises Over 20% on Its $1.17 Billion Deal for SpotX The advertising platform also reported preliminary Q4 2020 results with a nearly 20% advance in revenue. It will need to submit reports on self-regulation to the authority for three consecutive years.Alibaba said it will hold a conference call Monday morning Hong Kong time to address the antitrust watchdog’s decree. See "Reconciliation of revenue to pro-forma non-GAAP Net Revenue" and "Reconciliation of net income (loss) to Adjusted EBITDA," included as part of this press release. Here Are 14 to Watch. ", "As CTV flourishes and the media industry continues to turn to programmatic, there is a huge opportunity for an independent scaled company to offer the single most comprehensive technology in the market," said Mike Shehan, Co-Founder and CEO at SpotX. So, on the one hand, this is much lower than my price target using historical metrics. On the date of publication, Mark R. Hake did not hold a long or short position in any of the securities in this article. Exxon Mobil Will Keep Paying Its Dividend, And May Be Worth 30% More, Maxing Out Your 401(k) and What to Do Next, Fourth stimulus check: Lawmakers press Biden to say yes to more payments, People are flocking to the reopened Obamacare marketplace — and saving big, Stimulus check update: When will ‘plus-up’ payments arrive? “Industry sources indicate XPeng is actively recruiting chip engineers,” said Deutsche Bank’s Edison Yu, who believes this suggests “there are plans to grow this effort moving forward.” “In our view,” Yu further noted, “We do not expect any near-term changes as both XPILOT 3.5 and 4.0 will use Nvidia chips (Xavier and Orin), but believe similar to Tesla/NIO, XPeng wants to ultimately use a custom designed chip purpose built to train its neural net (to use in XPILOT 5.0) rather than a general purpose chip, in order to maximize performance/ efficiency and lower cost.” Yu thinks local rival Nio, is “likely” fast at work on a similar project after poaching Xiaomi's chip division manager. But next year analysts predict EPS of $3.88 per share, which will cover the dividend, assuming oil and gas prices stay high. To this end, Yu rates XPEV shares a Buy along with a $48 price target. We qualify all of our forward-looking statements by these cautionary statements. BlackRock Has Launched Two Behemoth Sustainable ETFs. We discuss many of these risks and additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in filings we have made and will make from time to time with the Securities and Exchange Commission, or SEC, including our Annual Report on Form 10-K for the year ended December 31, 2019 and subsequent Quarterly Reports on Form 10-Q for 2020. "Sellers have been looking for a scaled independent alternative to the giant companies who dominate the CTV marketplace," said Michael Barrett, President & CEO of Magnite. "The combination of Magnite and SpotX will make this a reality by bringing together the best CTV technologies and teams at a critical time. Sie können 'Einstellungen verwalten' auswählen, um weitere Informationen zu erhalten und Ihre Auswahl zu verwalten. These non-GAAP measures include, but are not limited to, non-GAAP net revenue and Adjusted EBITDA, each of which is discussed below. Magnite’s preliminary results for Q4 2020 include Charlie Munger Prefers Alibaba Stock to Treasury Bills. The company has agreement in principle on pricing and syndication for a seven-year, $360M senior secured term … SpotX is the trusted video advertising platform, enabling the world's largest media owners to monetize content & helping advertisers access premium inventory. We look forward to participating in the future success of SpotX and Magnite as shareholders in the combined entity.". SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, of which $67 million was CTV ; Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021 The 18.2 billion yuan ($2.8 billion) fine, to penalize the anti-competitive practice of merchant exclusivity, is equivalent to 4% of Alibaba’s 2019 domestic sales. Earlier this year, backed by BYD and Great Wall Motor, Horizon Robotics raised $900 million in a Series C round. The online lessons startup’s early investors include Facebook founder Mark Zuckerberg’s Chan-Zuckerberg Initiative, Naspers Ltd. and Tiger Global Management.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- After China imposed a record antitrust fine on Alibaba Group Holding Ltd., the e-commerce giant did an unusual thing: It thanked regulators.“Alibaba would not have achieved our growth without sound government regulation and service, and the critical oversight, tolerance and support from all of our constituencies have been crucial to our development,” the company said in an open letter. It’s worth at least 32% more, or $74.63 per share, based on its historical dividend yield. The company expects the transaction to close in the second quarter of 2021, subject to receipt of regulatory approvals and satisfaction of customary closing conditions. Unless required by federal securities laws, we assume no obligation to update any of these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated, to reflect circumstances or events that occur after the statements are made. Target Price Based on Historicals Moreover, based on the company’s historical dividend yield, this is much higher than its average. Similarly, Yahoo! What To Do With XOM Stock Most analysts have higher price targets for Exxon stock, but not by much. SpotX total preliminary non-GAAP net revenue (1) (2) for 2020 was $116 million, of which $67 million was CTV Purchase price consists of $560 million … Stock picking is ripe for a shift away from passive investing, which could suffer a decade of low or nonexistent returns, says Bill Smead. Delivery apps thrived during COVID-19, and they're now aggressively positioning themselves for life after the pandemic. Applying Morningstar’s 5-year avg. Spotify shares closed 2% higher at $257.69 on Tuesday. My target price produces an expected return of 21.95% (i.e., 14.8% gain plus 6.15% yield). Adjusted EBITDA does not reflect changes in our working capital needs, capital expenditures, non-operational real estate expenses or income, or contractual commitments. Looking at the wider picture, Yu believes it is all part of an effort by the industry/government to lower the dependence on foreign chips. Please see the discussion in the section called "Non-GAAP Financial Measures" and the reconciliations included at the end of this press release. Moreover, management said on the fourth-quarter 2020 conference call that cash flow from operations should cover the dividend payments this year. Combined pro forma non-GAAP net revenue includes (i) preliminary unaudited non-GAAP net revenue for SpotX for 2020 or Q4, as applicable; (ii) preliminary unaudited non-GAAP net revenue for Magnite for 2020 or Q4, as applicable; and (iii) with respect to full year 2020, Telaria’s unaudited non-GAAP net revenue for Q1 2020 (since the Telaria merger closed on April 1, 2020, and therefore Telaria Q1 2020 results are not represented in Magnite’s full year 2020 reported results). These statements are not guarantees of future performance; they reflect our current views with respect to future events and are based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements. But on the other hand, keep in mind that my price target could take several years to achieve, whereas most analysts are just looking out one year. To round things out we can also derive a price based on its historical price-to-sales. Gibson Dunn provided legal counsel to Magnite. XPeng to Produce Its Own Chips; Analyst Weighs In. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Millions of Americans now qualify for policies at less than $50 a month: federal data. Magnite will discuss additional details about the transaction and Q4 2020 results on its Q4 2020 earnings conference call on Wednesday, February 24th. The 5-year-old, local start-up was recently selected by SAIC (GM and VW’s main JV Chinese partner) to supply its ADAS/AD chipset. That’s now unleashing appetite among money managers to pile back in looking for income-bearing assets to match liabilities .The same dealers have also been reluctant to sell their inventory of long-maturity debt this year back to the Bank of England as part of its quantitative easing program in another sign of anticipated demand. SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, of which $67 million was CTV Purchase price consists of $560 million in cash and 14 million shares of Magnite stock, for a total of $1.17 billion based on the closing price of Magnite stock as of February 4, 2021 SpotX total preliminary non-GAAP net revenue (1)(2) for 2020 was $116 million, of which $67 million was CTV. Morningstar says this is 1.25 times over the last five years. If you've already maxed out your Roth IRA this year but want to stash away more for retirement, here are five other places to put your money. RTL Group’s shareholders will benefit from the cash proceeds in line with the stated dividend policy. The purchase price consists of $560 million in cash and 14 million shares of Magnite stock. Those comments set in motion an unprecedented regulatory offensive, including scuttling Ant’s $35 billion initial public offering.It remains unclear whether the watchdog or other agencies might demand further action. Magnite plans to finance the transaction with cash on hand, 14 million shares issued to RTL Group and committed financing from Goldman Sachs. Company profile page for SpotX Inc including stock price, company news, press releases, executives, board members, and contact information Adjusted EBITDA may also be used as a metric for determining payment of cash incentive compensation. Americans have tons of questions about their stimulus checks and 2020 taxes. Moreover, the dividend yield is 6.15%. Existing backers, including private equity giant Silver Lake Management, Owl Ventures and T Rowe Price, are investing about $100 million each in the funding round, which is yet to close, said the person, who did not want to be identified because discussions are confidential.The startup remains in discussions to close the round with a further $200 to $300 million in the coming weeks at a slightly higher valuation, the person said.The large investment into Byju’s comes as fundraising by Indian startups reaches a feverish pitch. This suggests they don’t want to be caught short of any bonds should investors want to buy from them.Also pushing the strong demand theme, oversubscription rates for bonds maturing in 50 years have been the highest on record since the end of last year.“With the U.K. market having most aggressively priced the re-opening story in Europe, even a mild re-assessment of the re-opening and vaccination story, should see gilts recapture some lost ground,” said Megan Muhic, a strategist at RBC Europe Limited.Next WeekEuro area bond issuance from Germany, Italy and the Netherlands is expected to total 12 billion euros next week according to Commerzbank AG; Danske Bank A/S flags that Ireland could sell a new 20-year bond through banks; Italy, Finland and Portugal pay redemptions of about 29 billion euros and coupons of over 2 billion eurosIn the U.K., the Debt Management Office will sell 1 billion pounds of its longest conventional gilt which matures in 2071 and 600 million pounds of a 30-year inflation-linked bond; the Bank of England will buy back 4.4 billion pounds of debt in three operationsData for the coming week in the euro area and Germany is thin and mostly backward-looking, with the exception of the ZEW survey numbers for April on TuesdayU.K. price-to-earnings (P/E) ratio of 25.62 times (over the last 5 years) to Exxon’s EPS for this year ($2.87) produces a target price of $73.53. Similarly using the Morningstar forward P/E average of 21.75 times Exxon’s $3.88 EPS for 2022 produces a target price of $84.39. Magnite (MGNI -2.2%) has reached an agreement on pricing on a new term loan and revolving credit facility, the financing for a pending acquisition of SpotX. While that’s triple the previous high of almost $1 billion that U.S. chipmaker Qualcomm Inc. handed over in 2015, it’s far less than the maximum 10% allowed under Chinese law.The fine came with a plethora of “rectifications” that Alibaba will have to put in place -- such as curtailing the practice of forcing merchants to choose between Alibaba or a competing platform -- many of which the company had already pledged to establish.Read more: China Fines Alibaba Record $2.8 Billion After Monopoly ProbeAlibaba Chief Executive Officer Daniel Zhang on Saturday declared his company now ready to move on from its ordeal, while China’s Communist Party mouthpiece People’s Daily issued assurances that Beijing wasn’t trying to stifle the sector.The Hangzhou-based firm “has escaped possible outcomes such as a forced breakup or divestment of assets. That point came out loud and clear from the company’s latest earnings conference call. Mark Hake writes about personal finance on and runs the Total Yield Value Guide which you can review here. Non-GAAP net revenue would represent our revenue if we were to record all of our revenue on a net basis. (See XPEV stock analysis on TipRanks) To find good ideas for EV stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. According to Chinese news outlet 36kr, using a small team of less than 10 engineers, the Chinese EV maker is developing its own autonomous driving chip. Beijing regulators wrapped up their landmark probe in just four months, compared with the years that such investigations take in the U.S. or Europe. The purchase price consists of €468 million in cash and 14.0 million shares of Magnite stock. Non-GAAP net revenue is a non-GAAP financial measure. Then, RTL Group put SpotX up for sale. Magnite (Nasdaq: MGNI) — the largest independent sell-side advertising platform – recently announced it has entered into a definitive agreement to acquire SpotX from RTL Group for $1.17 billion in cash and stock. We define non-GAAP net revenue as GAAP revenue less amounts paid to sellers that are included within cost of revenue for the portion of our revenue or SpotX’ revenue, as applicable, that is reported on a gross basis. As trade and investment have grown between China and Nigeria, so has lending, leading to an increased focus on the balance of the bilateral relationship. Horizon is targeting the shipment of 1 million chips this year and Yu believes it is a good example of the local industry’s chip manufacturing ambitions. Here’s Why. Non-GAAP net revenue does not represent revenue reported on a GAAP basis. Fourth Quarter 2020 Results Conference Call and Webcast. The latest noises coming out from China suggest XPeng (XPEV) is keen to produce its own chips in-house. Finance says that 25 analysts believe on average XOM stock is worth $61.18. Regulators are said, for instance, to be concerned about Alibaba’s ability to sway public discourse and want the company to sell some of its media assets, including the South China Morning Post, Hong Kong’s leading English-language newspaper.Read more: China Presses Alibaba to Sell Media Assets, Including SCMPChina’s top financial regulators now see Tencent as the next target for increased supervision, Bloomberg News has reported. For example, Morningstar reports that over the past 5 years, its trailing 5-year dividend yield has been 4.96% (almost 5%).InvestorPlace - Stock Market News, Stock Advice & Trading Tips We can use this to estimate the normalized target value for XOM stock.