(Bloomberg) -- American Airlines Group Inc. is set to raise $2 billion selling shares and convertible bonds after increasing the size of both offerings, according to people with knowledge of the matter.The carrier is selling $1 billion of new shares in the offering, the people said, asking not to be identified because the information is private. The shares priced at $13.50 each, a person familiar with the matter said.This represents at 15.6% discount to its closing price before the deal launched and a 9.5% below its closing price of $14.92 on Monday.The convertible note portion was increased to $1 billion as well, the people said. The notes are set to price at a 6.5% coupon and a 20% conversion premium, according to one of the people.American Airlines had planned to raise $1.5 billion in the offering, with an equal split of equity and convertible bond sales, a statement on Sunday showed.A...
COVID-19 has brought several trends to the fore that were already at play before the pandemic struck. Needham analyst Laura Martin believes one of them is good news for OTT leader Roku (ROKU).“We believe that COVID-19 will accelerate ad spending shifts toward Connected TV (away from linear TV) as consumer spending and economic growth return,” the 5-star analyst commented.But, first of all, Roku will have to navigate the pandemic’s ruinous effect.Citing, “continued weakness in large digital ad categories such as autos, entertainment, and travel,” as growth depressors, Martin thinks the current quarter will represent the low point as far as COVID’s negative impact is concerned. Thereafter, as 2020 progresses, things should steadily improve.Having said that, Martin believes the real turning point will be next year. As the economy fully reopens, marketers will need to be prudent with their budgets. This means they will seek ways to make the most out of limited resources....
If the coronavirus is a wound which Tesla (TSLA) has so far managed to cover up, then, according to Wedbush analyst Daniel Ives, “the band-aid just got ripped off.”Confirming the Street’s concerns, the release of April and May registration figures for Model 3s in California – Tesla’s “core sweet spot,” – indicated a year-over-year drop of 37%.“Domestically speaking California remains a linchpin to Model 3 success for Tesla and now all eyes shift to the trajectory in the month of June and especially into the core summer months heading into Fall in hopes of a rebound as Fremont enters 2H,” the 5-star analyst said.However, California is not the only state reporting weak numbers. In 24 other states, registrations dropped by 33% in the same period.The Street was already bracing for a COVID shaped decline when it recently brought down expectations for Tesla deliveries this year, reducing the figure to 400,000 units instead...
