(Reuters) – Bombardier Inc said Thursday it would stop production of Learjet aircraft, and about May 1 this year600 jobs cut as it goes in-play Business Jet Maker after reporting an adjusted loss before interest and taxes for the fourth quarter due to the coronavirus pandemic

After Montreal-based Bombardier reported the probable layoffs in November, the company announced further cost-cutting measures to deliver recurring savings of $ 400 million by 2023 and improve profits this year while doing that Expand aftermarket business

The layoffs include 800 people in Canada, mostly in Quebec, and 250 in Wichita, where Learjet is made, Martel later told reporters

Bombardier, which previously planned to offset free cash flow in 2020, now expects cash flow to develop positively between 2021 and 2023

Bombardier has been mining assets in recent years, moving from aircraft and train maker to business jet maker to restore profitability and reduce debt after a 2015 financial crisis

In 2021, the company expects business jet shipments in line with 2020, moderate revenue growth, and adjusted EBITDA of more than $ 500 million as production of the low-revenue Learjet ceases later in the year to settle on Focus on more profitable products Challenger and Global Jet models

Analysts estimate adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to average $ 661 million in 2021 according to Refinitive IBES data

Before the investor day on 4 March named Bombardier cost improvements for the Global 7500 Jet and its growing service business as main profit drivers

Bombardier reported a 19 In line with industry trends, business jet deliveries fell 7% to 114 in 2020, but business jet revenue rose 3% in 2020, driven by year-end shipments of Global 7500 jets and a rebound the demand was supported

Bombardier reported $ 19 billion in free cash flow from continuing operations in 2020 but expects to reduce cash burn to over $ 500 million in 2021

The company said it now has pro forma cash and cash equivalents of approximately $ 5.4 billion, including the proceeds from the sale of its transportation unit and pro forma net debt of approximately $ 4.7 billion

Bombardier reported an adjusted loss before interest and taxes of 165 million for the quarter ended December $ 31, compared to a profit of $ 168 million last year

(Reporting by Shreyasee Raj in Bengaluru and Allison Lampert in Montreal; editing by Alexandra Hudson, Jonathan Oatis and Bernadette Baum)

(Bloomberg) – Stefan Qin was only 19 years old when he claimed to have the secret of cryptocurrency trading; Qin, a self-proclaimed math prodigy from Australia, left college in 2016 to start a hedge fund in New York that he did Virgil Capital called it telling prospective clients that it had developed an algorithm called Tenjin to monitor cryptocurrency exchanges around the world and take advantage of price fluctuations. Just over a year after it was founded, he bragged that the fund had a return of 500 It went so cashless that Qin signed a lease on an apartment worth $ 23% in September 2019, a claim that sparked a ton of new money among investors$ 000 a month in 50 West, a 64-story luxury apartment building in the financial district with expansive views of Lower Manhattan, plus a pool and sauna, steam room, hot tub and golf simulator, in fact, according to federal prosecutors, the operation was a lie, essentially a Ponzi program that stole about $ 90 million from more than 100 investors to fund Qin’s lavish lifestyle and personal investments in high-risk bets like initial coin offers at a point where customers were asked for their money, He blamed “poor cash flow management” and “loan sharks in China” for his troubles in various ways. Last week, 24-year-old Qin pleaded guilty in federal court in Manhattan, “I knew that, in expressing remorse what I was doing was wrong and illegal, “he told US. District Judge Valerie E Caproni, who sentenced him to more than 15 years in prison “I deeply regret my actions and will spend the rest of my life atoning for what I have done. I am deeply sorry for the damage my selfish behavior has caused Has inflicted investors who trusted me, my coworkers, and my familyEvicious Investors The case mirrors cryptocurrency fraud cases similar to BitConnect’s that promise people double-digit and triple-digit returns and cost investors billions such Ponzi programs show how investors named on one Want to make money in the market, can easily be misled by promises of high returns The QuadrigaCX Canadian exchange collapsed in 2019 as a result of fraud, causing 76000 investors lost at least $ 125 million as oversight of the cryptocurrency industry tightened, the sector is littered with inexperienced participants Some of the 800 or so crypto funds around the world are managed by people with no knowledge of Wall Street or finance, including some college Undergraduates and alumni who raised funds a few years ago, Qin’s journey began in college too.He had been a mathematician planning on becoming a physicist, he told a website, DigFin, in a profile released in December, just a week before regulators shut down He described himself on his LinkedIn page as “Quant with a deep interest and understanding of blockchain technology. In 2016 he won admission to a potential entrepreneur program at the University of New South Wales in Sydney with a proposal to use blockchain technology To use acceleration of foreign exchange transactions From August From 2016 to December 2017, he also attended Minerva Schools, a largely online college in San Francisco, confirmed the schoolCrypto BugHe got the Crypto Bug after an internship with a company in China, he told DigFin His job had been to provide a platform between the two Build venues, one in China and one in the USASConvinced that he had stumbled upon a deal, Qin moved to New York to start Virgil Capital. His strategy, he told investors, would be to take advantage of the tendency of cryptocurrencies on various exchanges trading at different prices It would be “market neutral,” meaning the company’s funds would not be exposed to price movements. And unlike other hedge funds, he told DigFin, Virgil would not charge management fees, only fees based on the company’s performance “We never try to make easy money,” Qin said.By his testimony, Virgil got off to a quick start, posting a 500% return in 2017, attracting more investors to join a marketing brochure with a 10% monthly return – or 2811% over three years ending August 2019 His net worth got an additional jolt after the Wall Street Journal profiled him in a February 2018 story announcing his ability to arbitrate cryptocurrency. Virgil “saw sizeable growth, as new investors poured into the fund, “prosecutors said. Missing Assets The first cracks appeared last summer Some investors were” increasingly angry “with missing assets and incomplete transfers, former investor relations director Melissa Fox Murphy said in a court statement (She left in December) Complaints grew “It is now MIDDLE OF DECEMBER and my MILLION DOLLARS ARE NOT SEWING ANYWHERE,” wrote an investor whose name was obscured in court documents. “It’s a shame like you are one of your earliest and greatest Investors treat approximately nine investors at the same time At $ 3 Prosecutor’s Office filed for 5 million fund redemptions from the company’s flagship Virgil Sigma Fund LP But there was no money to transfer Qin had freed the Sigma Fund of its fortune The fund’s balances were fabricated instead of trading on 39 exchanges around the world As he alleged, Qin was spending investor money on personal expenses and investing in other undisclosed high-risk assets, including initial coin offerings, according to prosecutors. So Qin tried to stop him. Instead, he convinced investors to transfer their interests to his VQR Multistrategy Fund, another Cryptocurrency fund that he launched in February 2020 that used various trading strategies – and yet had assets “loan sharks” He also tried to withdraw $ 1.7 million from the VQR fund, but that caught the suspicion of the main trader Antonio Hallak In One Telephone call, the H Allak recorded in December, Qin said he needed the money to repay “loan sharks in China” that he borrowed from to start his business This emerges from court files filed in a lawsuit filed by the Securities and Exchange Commission He said the loan sharks “could do anything to collect the debt” and that he had a “liquidity problem” preventing him from paying it back ” I just had such bad cash flow management to be honest, “Qin told Hallak.” I have no money right now, dude It’s so sad when the trader resisted the payout, Qin tried to run the VQR accounts Meanwhile, the SEC was involved in cryptocurrency exchanges to get a grip on VQR’s remaining assets, and a week later a lawsuit was filed with Asset Recovery.In the end, Qin had used up virtually all of the Sigma Fund’s money, a court-appointed beneficiary who received the Fund oversees trying to regain assets for investors, said Nicholas Biase, a Manhattan U spokesmanS. Lawyer Audrey Strauss The assets of the VQR fund of around 24 million USD has been frozen and should be available for dispersion, he said, “Stefan He Qin used up almost all of the assets of the $ 90 million cryptocurrency fund he owned, stole investor money, spent it on indulgences and speculative private investments and investors lied to money about the fund’s performance and its activities, ”Strauss said in a statement. When he learned about the probe in South Korea, Qin agreed to return to the USProsecutors said he surrendered to authorities on February 4, pleaded guilty to Caproni on the same day, and was sentenced to death on Jan. May scheduled conviction on a bond of 50$ 000 released While the maximum legal penalty on a plea is a 20-year prison sentence, prosecutors agreed that under the guidelines of federal conviction and a fine of up to 350This fate is a far cry from the career his parents planned for him – a physicist, he told DigFin, “They weren’t very happy when I told them I had this Leaving college to do this crypto thing Who knows, maybe one day I’ll graduate But what I really want to do is trade crypto ”The case is US. v Qin, 21-cr-75, US. District Court, South Borough of New York (Manhattan) (Updates with Attorney General’s comment and caption) For more articles like this, please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg LP

Canadian marijuana stocks, which posted astounding gains on Wednesday, fell just as quickly on Thursday, while US. Multistate operators were just a little fancy

Whitney Wolfe Herd, Founder and CEO of Bumble, speaks to Yahoo Finance

on the day of its IPO

The tax code change could allow millions of working families to save thousands of their taxes, but only if they know how to file this year

Is a pause for the sustained surge in the stock market finally in sight? The conversation has focused on rising interest rates and the specter of inflation against a backdrop of growth fueled by Covid’s fiscal stimulus, but strategists say there is no need to get alarmed just yet, according to Goldman Sachs equity strategist Ryan Hammond, the bull might stay with us for a while Hammond notes that interest rates remain low and sees this as a key factor “Given the historically low interest rates, we expect interest rates to be still well below what is considered the” turning point “Would be considered for stocks,” said Hammond Hammond glances at the broader markets, noting that since 2012 the S&P 500’s performance has been consistently positively correlated with inflation bets. “Improving growth expectations often equates to higher break-even inflation, rising Earnings expectations and an improvement in investor sentiment, i e more than compensates for the higher discount rate, “wrote Hammond, backing his belief that inflation fears should remain low. Low interest rates and inflation make the stock market the go-to place for investors looking for higher returns. And inside the stock market, penny stocks are sure to get attention Arouse These names, which trade for less than $ 5 per share, are considered the most controversial on the street, dividing market watchers into two factions: Critics and Fans The former brings a valid argument to the table Stocks don’t just trade at such low levels Usually there is a very real reason for the cheap prices. As for the latter, the potential for an investment worth only pocket money to add value to even a seemingly insignificant amount that could result in massive percentage gains is too enticing, to be ignored The implication for investors? Due diligence is essential because some penny stocks may not have what it takes to climb back up. Using TipRanks’ database, we identified two compelling penny stocks identified by Wall Street pros. Each one has a consensus rating of “Strong Buy “Received from the analyst community and brings massive growth prospects to the table We’re talking about a triple-digit upside potential here Checkpoint Therapeutics (CKPT) Starting with Checkpoint Therapeutics, a biopharmaceutical company active in the oncology field. Checkpoint acquires, develops and markets immune-enhanced combination treatments for solid Tumor diseases Checkpoint has two lead drug candidates, CK-101 and CK-301 CK-101, known as cosibelimab, is a small molecule anticancer drug that is currently in a phase 1/2 clinical trial for the treatment of specific non-small cell lung cancer (NSCLC ) runs through The drug candidate targets cancers prone to the EGFR mutation, making it applicable to approximately 20% of NSCLC patients.The drug has shown promise compared to traditional chemotherapy treatments.Other studies will be CK-101 against tumor progression test for resistance mutations The second candidate, CK-301, is an antibody drug currently in a Phase 1 clinical trial that will focus on patients with selected recurrent or metastatic cancers. The selected cancers include NSCLC as well as metastatic melanoma, renal cell carcinoma, Head and Neck Cancer and Urothelial Cancer All of these cancers are responsive to the therapeutic effects of CK-301, an anti-tumor reaction due to the blocking of the PD-1 / PD-L1 interaction. CK-301 showed an objective response rate of during the phase 1 study 44% in treated patients and a 103-month medi ane progression-free survival rate compared to currently available approved treatments Based on these results, the company is continuing its clinical phase program, including early enrollment of patients for a phase 3 study. Among the fans is Cantor analyst Jennifer Kim, who writes: ” We think the risk / reward balance is favorable to allow for the full Phase 1 indication for cosibelimab in Metastatic CSCC in 2H21 We consider this to be the short-term focus for CKPT We expect a positive indication based on ours as highly regarded interim data recently presented for cosibelimab (SITC 2020, ESMO 2020)The analyst added, “We believe the potential top sell opportunity for Cosibelimab is underestimated and we expect the upward revisions to earnings estimates will drive CKPT shares higher, in line with their bullish outlook on Cosibelimab’s potential Kim’s CKPT stock as overweight (ie, Buy) and its target price of $ 16 shows confidence in 331% upside for the stock (To view Kim’s track record, click hereNow if you turn to the rest of the street, other analysts are on the same page, with only purchases made in the past three months, 3 to be precise, it says on the street that CKPT is a strong buy plus the 17th $ 67 average target price increases upside potential to 365% (See CKPT stock analysis on TipRanks) Galmed Pharmaceuticals (GLMD) Next, we have Galmed Pharmaceuticals, a clinical-stage biotechnology that specializes in liver, metabolic and inflammatory diseases The company’s lead candidate is Aramchol, a liver-directed SCD-1 modulator intended for the treatment of alcohol-free steatohepatitis (NASH) for which aramchol has Fast Track Designation status from the FDA. NASH is a fatty liver disease, which are closely correlated with obesity and for which no targeted drugs are currently available due to rising obesity rates w The NASH drug market is expected to grow significantly over the next few years Some estimate that it could be worth $ 35 billion. Bringing a solution into play makes money well Aramchol has completed the Phase 2a and 2b studies and is currently in Phase 3, however, enrollment for the study has been completed recently temporarily suspended; Aramchol meglumine – an NCE (new chemical entity) with enhanced IP compared to Aramchol that the company is migrating to – is slated to take Aramchol’s place in the ongoing Phase 3 ARMOR trial. In the second quarter, Galmed expects to sit down with the FDA to discuss replacing aramchol with aramchol-meglumine and file the IND in 1H21 Raymond James analyst Steven Seedhouse believes the company played its cards right, “Of course, the phase 3 delay is one year in one competitive NASH space, but with all NASH studies being delayed by COVID anyway, we believe Galmed has made the right decision to switch to aramchol meglumine now, at this point, FDA approval remains the main catalyst in 2021, followed by 24-week open label data from the first cohort, ”said the 5-star analyst Galmed recently announced a new candidate in In the pipeline, Amilo-5MER, a 5 amino acid peptide that inhibits the polymerization and aggregation of serum amyloid A (SAA), The Company believes that Amilo-5MER has potential in numerous indications including inflammatory bowel disease, rheumatoid arthritis and COVID-19 may play a role “The preclinical data presented by Galmed shows good activity in IBD and RA mouse models … This adds an interesting new value driver to Galmed that goes beyond NASH and is currently running,” added Seedhouse. To this end, Seedhouse is evaluating GLMD as an outperform (ie buy) along with a target price of USD 17 If his thesis prevails, a twelve-month profit of 270% could possibly be in sight (To see the track record of Seedhouse, click here) Wall Street analysts are firmly on Galmed’s side The stock’s Strong Buy consensus rating is based on purchases only – 4 total Like Seedhouse, other analysts expect high returns At USD 19, the average target price means a gain of 314% in the coming year (see GLMD stock analysis on TipRanks) To find great ideas for trading penny stocks at attractive reviews, visit TipRanks ‘Best Stocks to Buy, a newly introduced tool that brings together all the insights into TipRanks’ stocks Disclaimer: The opinions expressed in this article are solely those Featured Analysts Content is intended for informational purposes only. It is very important that you do your own analysis before making any investment

Robinhood stocks rose 50% in January despite the GameStop controversy as investors scramble to get some of the brokerage ahead of a much-anticipated IPO this year, fintech’s growing valuation is another sign of that That investors think the trading app is bulletproof for everything from business model overhauls to technology failures and fines, the latest secondary market bids for Robinhood stock are valued at around 40 billion, according to Rainmaker Securities US dollars

Aurora Cannabis will post a profit in the second quarter as a wider rally in marijuana stocks is supported by US Legalization prospects

Cannabis stocks fell sharply across the board on Thursday, and many of the top performers in the sector posted all of those gains on Tilray Inc the day before was last down 40% while Aphria Inc It merged with, down 27% shares and other cannabis names were the target of the same group of investors in a Reddit subgroup that owned the shares of video game retailer GameStop Inc To climb to dizzying heights in recent weeks These investors encouraged each other on Wednesday to make Tilray the new GameStop by putting a quick squeeze on the stock’s Reddit group, Wallstreetbets, on Thursday lamented the turnaround Some suggested selling cannabis stocks and using the funds to buy stocks in dating app Bumble Inc To buy, which made its stock market debut, the cannabis ETF was down 15%

Retirement account holders have long had trouble converting the money in their 401 (k) to income. Later this year, possibly in the third quarter, plan sponsors will need to have two lifetime income graphs on their retirement statements at least annually Admitting Participants Essentially, the figures show how much income a participant’s account balance would generate in today’s dollars if they were used to purchase a single life annuity or a qualifying joint and 100% survivor’s pension

(Bloomberg) – Tilray Inc fell as much as 44% on Thursday, halting a three-day record rally as Reddit-inspired traders attempted to boost the cannabis sector to multi-year highs, the loss helping the ETFMG Alternative Harvest ETF, known by its ticker MJ, make its biggest drop to date was up 23% as other top stocks fluctuated from gains to losses in Canopy Growth Corp., The Largest Cannabis Company By Market Value, Fell 23% To Its Lowest Since 2016 “The marketplace has a pretty bad case of ADHD these days, and the newest shiny item for a rabid retail crowd is cannabis stocks,” said Ben Johnson, Morningstar’s global director for ETF Research “The big question is whether or not all of these fundamentals, all of this excitement are priced into the stocks. The earlier rally of the week commemorated late 2018 when Canada became the first major economy to legalize and legalize recreational marijuana use spiked cannabis stocks Tilray’s three-day gain earlier in the week was its biggest ever, though it is still well below the intraday high of $ 300 it hit in September 2018, according to a report by S3 Partners, short sellers have been short since Start of the year bets against the pot sector scaled back while Reddit organized Industry short interest as a percentage of the float has dropped to 15% from 24% in January 1 However, Tilray was a major outlier after arbitrage traders following the announced merger with Aphria Inc Started building short positions According to Ihor Dusaniwsky, S3 chief executive officer for predictive analytics, Tilray made new short sales of over $ 1 billion in December, which resulted in a short sale of 23% of available stocks according to S3 That has made it a mature target for Reddit, as users have also touted possible regulatory reforms in the U.S.Profits in Tilray led the sector’s surge earlier to Moez Kassam, chief investment officer of Anson Funds, but said it could be because it is one of the few cannabis stocks readily available to Robinhood or day traders in the USIn Canada, companies listed with US. Operations can be better prepared to benefit from US Legalization and retail investors may ignore stocks like Curaleaf Holdings Inc and Harvest Health & Recreation IncKassam said it was an ironic trade (updates clearance moves and adds comments and brief dates) For more articles like this, please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg LP

Shell’s plan to have 500 in just four yearsIntroducing 000 electric charging stations is the latest sign of a boom in electric vehicle charging infrastructure that has prompted investors to pour money into the industry and inspired some companies to become public companies in search of the capital needed to to meet demand As of the beginning of the year, three SPVs have been acquired and are on their way to public, while a third of some of the biggest names in private equity investing have raised tens of millions to make their own way into business Has Viability The SPAC attack began in September when an electric vehicle charging system, ChargePoint, entered into a merger agreement with special-purpose vehicle Acquisition Corporation Switchback Energy Acquisition Corporation with a market valuation of $ 2.4 billion

Virgin Galactic could repeat a test flight of its SpaceShipTwo on Saturday This is an important step before commercial flights can take off

A political shift in the United States unlocked an estimated $ 1.38 billion jackpot for pot producers who have benefited from a surge in their stocks since President Joe Biden’s election in November cannabis producers did in the first five weeks of 2021 Shares worth that amount issued, estimates investment firm Viridian Capital Advisors as prices have risen on the promise of federal decriminalization of marijuana and a number of other reforms by the future Biden government, private investors have also moved into the pot sector this week, with Tilray, Aphria and Sundial Growers emerging as new favorites from Reddit’s popular WallStreetBets forum, which was behind the recent rallies in some short stocks

(Bloomberg) – Justin Sun, the 30-year-old crypto entrepreneur who bought GameStop Corp valued at $ 10 million at the height of his Reddit-fueled rally is forecast to see a paradigm shift in investing as younger people move in That same week, Elon Musk announced that he had invested $ 1 billion from Tesla Inc.Sun said a new way of internet-powered investing would benefit cryptocurrencies as well as stocks of companies that are able to understand and adhere to meme culture. “Sun said he was willing to hold onto his GameStop stocks , which he bought near the highs late last month to take advantage of the adrenaline rush that lured private investors into so-called meme stocks.He also bought $ 1 million in AMC Entertainment Holdings Inc and another $ 1 million in silver The GameStop position is now worth only $ 2 million, Sun said”I think I’ll hold. Even if I lose money on GME stock, I still believe this is a paradigm shift,” Sun said in an interview with Bloomberg Television. “In the past, we’ve all followed the advice of financial analysts , and nowadays people will make their own decisions. “GameStop grew nearly eight-fold in the last week of January as retail investors were fueled by Reddit forums and Discord chats piling up in the stock, causing professional hedge funds to buy the stocks The price of GameStop has since fallen from a high of $ 483 to around $ 50, generating losses for retail investors who bought at the top and sparked wider debate over whether this type of Community-controlled trading can be continuedSun founded the blockchain business Tron in 2017 and has since expanded to other decentralizations acquisition technologies and platforms such as BitTorrent Inc, Steemit and DLive made headlines in 2019 by spending a record $ 4 million at Warren Buffett’s annual charity auction to have dinner with aging investor Sun said he advised Buffett to buy Bitcoin and Tesla when he did Had dinner with him last year “Elon Musk is not only a CEO of the company, he’s the exponent of this kind of meme culture and exponent of this kind of new generation movement,” Sun said Going forward, these kinds of community-driven trends will require the company’s CEOs to be more engaging with the community and their fan base, Sun has also been working on a Chinese version of Clubhouse, the social networking app that was recently blocked by China’s censors Clubhouse is “a very effective way for people to expand their social networks,” Sun said “But of course every country has its regulations, so we will definitely have such a moderation system to identify and moderate the content”” Sun has been censored before His Peiwo app was slammed by China’s leading state news agency for spreading vulgar and pornographic content”DLive, the live streaming platform that BitTorrent bought late last year, has also been scrutinized by US lawmakers for its role in broadcasting the US Capitol Riots Sun declined to comment on the controversy Meanwhile, Tron, the Tron Foundation-affiliated cryptocurrency, has not benefited as much from the craze of retailing as some other digital coins over the past few months, and according to a CoinMarketCap- Ranking in terms of market value on 20th Sun said he would hire more celebrities and artists to better position Tron as a “meme-friendly” coin. “The meme is very important in the cryptocurrency world,” he said. For more articles like this, please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg LP

Dating app Bumble looked hot with its initial public offering that far exceeded expectations, grossing $ 215 billion. Bumble’s IPO rose double digits when trading began Thursday

The stock market started to fade on Thursday lunchtime as some of the hottest stocks in the market were sold, but the IBD 50 held out

Dating app Bumble (BMBL) shares opened at $ 76 each on their IPO debut Thursday, with shares rising more than 80% in the first few minutes of trading

Bombardier share, Bombardier

World news – CA – Bombardier dismisses 1600, Learjet production stops

Source: https://finance.yahoo.com/news/bombardier-lay-off-1-600-115019263.html