The aim of all stock investments, after all, is to achieve growth – and that means finding stocks with the highest potential. March 4 (Reuters) - Hippo Enterprises will go public through a $5 billion merger with a blank-check firm backed by Silicon Valley heavyweights Reid Hoffman and Mark Pincus, in a sign of rising interest in the fast-growing "insurtech" sector. Metromile Inc., which allows customers to pay for car insurance on a per-mile basis, agreed in November to a merger with Insu Acquisition Corp. II. That, and the prospect of reduced bond buying by the European central bank, has eroded the haven appeal of bunds, while simultaneously threatening to sap appetite for high-yielding notes of debt-loaded nations like Italy.“The two cannot coexist happily with each other,” McGuire said. Hippo has agreed a deal to merge with a special purpose acquisition company (Spac) that will give it a public listing at a $5bn valuation. In short, the company deals in air pollution control technology, a niche that has been in demand since the 1970s. Rising bond yields and fear that rising prices will force the Fed to tighten monetary policy have slammed the broader stock market recently. Senior Hippo management and material existing investors are also subject to a lockup, … With that in mind, here is what you need to know about SNPR stock and the Volta SPAC merger now: SNPR stock first came public in September 2020. 1 minute read. AM Best said it is planning “additional discussions” with the company’s management following the SPAC deal, which values Hippo at $5bn. Historically, it’s been cheaper for Mexico to export the crude it produces to countries with more technologically complex refineries and to import refined fuels like gasoline.State oil company Petroleos Mexicanos produces copious amounts of fuel oil unintentionally because its refineries lack the technology to extract cleaner fuels from the sludge that is leftover during the initial process of turning crude into gasoline. When the indexes were sliding a few days ago, the S&P 500 (SPX) for example, did not break its 50-day moving average at 4050. See more from BenzingaClick here for options trades from BenzingaCardano And Polygon Skyrocket To New All-Time Highs As Investors Seek Elon Musk's Next Favorite CryptoHere's How You Can Get Shiba Inu For Free© 2021 Benzinga.com. “I don’t care about 400 SPACs. Have a confidential tip for our reporters? Two days later, PowerFleet announced a smaller deal with Alabama-based White Oak Transportation, to supply tracking services for the trucking company’s fleet of 850 vehicles, especially its cargo trailers. During the next few quarters, we expect to see improved revenues from Engineered Systems as the broader energy markets improve. However, no deal has been finalised yet. The new company is expected to have approximately $1.2 billion in cash at … Management highlighted that the company's bid proposal environment has been improving, with order pipeline of over $2.0B, which we believe should support continuing order improvement over the next few quarters,” the 5-star analyst explained. News Master 2 months ago. Metromile Inc., which allows customers to pay for car insurance on a per-mile basis, agreed in November to a merger with Insu Acquisition Corp. II. Lawmakers are looking for quick action to improve an existing forgiveness program. Read more: Lemonade Competitor Hippo Raises Capital at $1.5 Billion Value, “This is a transition into the public market, just in the best way possible,” Wand said in an interview. The deals also underscore expectations that total value of premiums generated by insurtech platforms will exceed US$556 billion in 2025, from US$250 billion in 2020, according to a study by Juniper Research. It’s going to crash," he said his friends told him. If indexes fall below their moving averages, take action: Traders and investors alike should watch moving averages, especially the 50-, 100-, and 200-day. A few days after the earnings release, CECO announced that it had won a large-scale contract with a major semiconductor chip manufacturer. “It’s psychologically important.”This Week:German, French and Spanish bond auctions totaling about 29 billion euros. Hippo is the second such InsurTech to merge with a SPAC in recent months, following Metromile’s decision to merge into Cohen & Company SPAC Insu II announced late last year. The new company is expected to have approximately $1.2 billion in cash at closing, including up to $230 million of cash held in Reinvent’s trust … Insurance startup Lemonade Inc also became a public firm last year. View Articles Archive. (To watch Walkley’s track record, click here) Overall, the unanimous Strong Buy consensus rating here, based on 4 recent positive reviews, shows that Wall Street agrees with Walkley on this stock. (See AXTI stock analysis on TipRanks) CECO Environmental (CECE) For the last stock on our list, we’ll shift to the green economy, where CECO Environmental develops, provides, and install air quality and fluid handling systems. We’ve used the TipRanks database to find several that fit a profile: a market cap under $400 million and a share price below $10. The 9-cent EPS loss reported was a 25% improvement from the 12-cent loss reported in the previous quarter. Covering PowerFleet for Canaccord, 5-star analyst Michael Walkley sees a clear path ahead for the company's continued growth. Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. Together with Reinvent Know-how Companions Z’s money, the deal additionally contains $780 million in proceeds from a PIPE. (Reporting by Sohini Podder and Noor Zainab Hussain in Bengaluru and David French in New York; Editing by Sriraj Kalluvila and Steve Orlofsky). (To watch Dayal’s track record, click here) Once again, we’re looking at a stock with a unanimous Strong Buy consensus rating – this one based on 3 positive Wall Street reviews. At its peak, the family office had more than $20 billion of capital and total bets exceeding $100 billion.Hwang was wiped out in just days after investments including ViacomCBS and Discovery tumbled, triggering margin calls from global banks, who then sold the stocks in the big block trades. The company competes with popular disruptive insurer Lemonade (NYSE:LMND). Many insurtechs have also gone public, with Oscar Health , backed by Google parent Alphabet Inc, raising $1.2 billion on Tuesday. It is set to join a cohort of newly listed carriers that includes Lemonade and Root. (Bloomberg) -- Fuel that is so dirty that the global shipping industry banned its use last year is being burned at the highest level in three years in Mexican power plants.With the global shipping industry shunning sulfurous fuel oil to curb emissions, storage tanks in Mexico are overflowing with the stuff, a byproduct of its attempt to produce more gasoline domestically. Hippo’s SPAC merger follows the recent deals by CCC Information and Metromile Inc. Insurance Startup Hippo to Go Public in $5 Billion SPAC Merger. As part of the deal, a director appointed by Reinvent will join the board of the startup, according to Thursday’s statement. RTP stock is on the move Monday on reports that Reinvent Technology Partners could be behind a Hippo SPAC merger. The shares are trading for $6.51, and the average price target of $11.13 indicates a potential upside of 71% for the next 12 months. PowerFleet, Inc. (PWFL) The Internet of Things is transforming a host of industries, from factory floors to warehouses to trucking fleets. "Now we’re going to have a meme matched with a currency.” Playing The Story: Contessoto explained that he believes that "Dogecoin has the best branding of all cryptocurrency" and that all the other coins appear "super high tech and futuristic," while Dogecoin "just looks like: 'Hey, guys, what’s up? Reinvent Technology Partners Z will be renamed Hippo Holdings Inc. Hippo's SPAC merger follows the recent deals by CCC Information and Metromile Inc. March 03, 2021. “And a rainier season can disperse particles more efficiently, keeping the air quality within acceptable levels.”(Updates with ozone levels and government’s comment in last four paragraphs. Earlier this month, PowerFleet scored two major new contracts. Hippo’s strategy as an insurtech has been to dig even deeper into the home-coverage market, a sector that totaled $104 billion in the U.S. in 2019, even as rival startups such as Lemonade Inc. have expanded from products such as renters’ policies to life insurance. The last time bookings were at or above these levels was during mid-2019…. Morgan Stanley and Goldman Sachs provided financial advice to Hippo, with Barclays acting in the same capacity for Reinvent. SPAC IPOs The shares of blank-check company Reinvent Technology Partners (NYSE:RTP) surged more than 11% in pre-market trading this morning after reports that merger talks were ongoing with insurance fintech Hippo. In the company’s most recent financial release, for 1Q21, the top line came in at $71.9 million, just under the $80.5 million reported in the year-ago quarter, while EPS fell from 10 cents per share one year ago to 3 cents in the current report. '” While that may not be the most scientific of explanations, he believes that this is a big plus given that newbies investing in cryptocurrency for the first time might prefer investing in something more fun and recognizable. SPAC IPOs The shares of blank-check company Reinvent Technology Partners (NYSE:RTP) surged more than 11% in pre-market trading this morning after reports that merger talks were ongoing with insurance fintech Hippo. Based on the above, Dayal rates CECE shares a Buy rating, and his $15 price target indicates confidence in a 100% upside for the year ahead. Consumption of the dirty fuel jumped by almost 50% in the past year to more than a 100,000 barrels a day in March, according to government data.The capital’s air quality has worsened, said Beatriz Olivera Villa, a consultant with Greenpeace in Mexico, in a phone interview from Mexico City. Soros returned almost 30% in the 12 months through February and manages $27 billion across a range of strategies.“When there’s a dislocation, we’re prepared to not just double down but triple down when the facts and circumstances support that,” Fitzpatrick, 51, said in a “Front Row” interview on Bloomberg TV.Soros also increased its bet on Amazon.com Inc. and homebuilder DR Horton Inc., which is now its second-largest public equity position.The 13F, which money managers overseeing more than $100 million in U.S. equities must file quarterly, revealed that Soros held $4.5 billion of U.S. equities, down $77 million from the prior quarter.The biggest exit in the quarter was Palantir Technologies Inc. Soros sold 18.5 million shares valued at about $435 million. But there’s an unfortunate truism in the markets, based on the iron rules of mathematics, that the larger a company gets, the less likely it is to show big returns. Hippo to Go Public in Merger with Reinvent Technology … Hippo’s SPAC merger follows the recent deals by CCC Information and Metromile Inc. Home insurtech Hippo is the latest insurtech to agree a deal to go public through a merger with a special purpose acquisition company (SPAC), announcing a combination with Reinvent Technology Partners Z that includes a $550mn private investment in public equity (PIPE) with backing from Dragoneer, Lennar and Ribbit. While quantitative easing helped cover the growing deficits of Italy and Spain during the pandemic so far, that might not be the case this year, HSBC Holdings Plc said.There’s also a political dimension to the rising yields.The growing strength of Germany’s Green party is feeding through into bets elections later this year could trigger a break with the nation’s traditional fiscal caution. Year-over-year, EPS improved by 40%. The content is intended to be used for informational purposes only. Bitcoin Tumbles After Musk Implies Tesla May Sell Cryptocurrency, Singapore Closes Schools; U.S. Near 11-Month Low: Virus Update, Brain gain: New boutiques, deals surge lure expat bankers to Australia, A Xinjiang Solar Giant Breaks Ranks to Try and Woo the West, Peru voter simulation shows Castillo and Fujimori now neck and neck, You may get a surprise stimulus check from the IRS if you recently filed taxes, Will you get a fourth stimulus check? The transaction with Reinvent Technology Partners, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors, is set to value the combined entity at more than $5 billion, according to one of the people, who requested anonymity because the talks are private. When a SPAC announces a shareholder meeting to vote on a merger, they will also file a long form with the SEC giving a rough timeline of how the deal came together, the board’s reasons for approving it, the risks involved, and all the financial details relating to the transaction. Here’s how to make that money act like a monthly pension, Inflation Is Good News for Stocks With High Dividends, Soros Bought Up Stocks Linked to Bill Hwang’s Archegos Implosion, Don’t be a sitting duck when this stock market rally fades — here’s what to do now, Mexico’s Power Plants Burning Fuel So Dirty Ships Can’t Use It. Many insurtechs have also gone public, with Oscar Health , backed by Google parent Alphabet Inc, raising $1.2 billion on Tuesday. 1. Like many others, Contessoto read about Dogecoin on Reddit. The respective legal advisers were Latham & Watkins LLP and Sullivan & Cromwell LLP. How Does an Employer Benefit From a 401(K) Matching Plan. As a share of outstanding debt, it’s now below 20%, compared with more than 30% at its peak in 2019.In equities, investors are rotating out of more expensive growth stocks and into cheaper value securities, according to Kasper Elmgreen, head of equities at Amundi SA.And European corporate bonds are feeling the effects too. SPACs are shell companies, which raise funds through an IPO to take a private company public. Inventories continue to push house prices higher, however…. Here's what to know. Now that the IRS knows more about your earnings, you may be eligible for more support. Hippo Enterprises Inc., a home-insurance startup, agreed to go public through a merger with Reinvent Technology Partners Z, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as lead directors. The U.K. Will sell 3-, 15- and 20-year giltsPreliminary manufacturing and services PMIs for May in euro-area, Germany, France and U.K. will be in focus on FridayECB President Christine Lagarde speaks twice, as does chief economist Philip LaneFor 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. Latham & Watkins Advises Hippo in US$5 Billion deSPAC Merger with Reinvent Technology Partners Z A multidisciplinary team advises the home insurance company in the transaction that will make Hippo a publicly traded company. Elon Musk Just Reopened an Old Wound in the Bitcoin World, AT&T Is Preparing to Merge Media Assets With Discovery, Singapore Closes Schools; U.S. Near 11-Month Low: Virus Update, Taiwan and Singapore, Covid Success Stories, Face Threats, Soros Bought Up Stocks Linked to Bill Hwang’s Archegos Implosion. Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. Insurance Technology Firm Hippo to Merge With SPAC in $5B Deal. Metromile Inc., which allows customers to pay for car insurance on a per-mile basis, agreed in November to a merger … For investors seeking the best combination of high potential for growth and low cost of entry, the small caps may be just the ticket. “With 600K+ subscribers, PowerFleet has the scale and international footprint to compete for global tenders against leading fleet and asset tracking competitors. Where to Find Bargains Now. March 04, 2021. Hippo Insurance coverage is Going Public: In regards to the SPAC Merger. “It’s an unfortunate setback for the country.”Replacing natural gas, which it imports from the U.S., with fuel oil is certain to raise Mexico’s emissions. “When you look at various insurtech, and you say, ‘OK, well which area is the most valuable business,’ I actually think home insurance is the right way to do that,” Hoffman said in an interview. In more positive notes, the company reported a year-over-year increase in bookings, from $75.7 million to $92.1 million, and the work backlog of $203.1 million was up 11% from one year ago. The merger between Hippo Insurance and Reinvent Technology Partners Z is expected to close mid-2021. The SPAC Bubble Has Popped. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. On Thursday, Hippo said it was merging with Reinvent Technology Partners Z (ticker: RTPZ) in a deal that values the insurance technology company at $5 billion. The fiasco is expected to cost the finance industry about $10 billion, has prompted an investigation by the U.S. Securities and Exchange Commission and caused heads to roll at Credit Suisse Group AG, where the hit exceeds $5 billion.The 13F filing provides one of the first examples of how a hedge fund attempted to capitalize on the distressed remains of Archegos. Your state may have the answer, not Biden, A bitcoin battle of the billionaires ensues as Jack Dorsey faces off with Musk on ‘green’ merits of world’s No. Insurance technology unicorn Hippo Enterprises Inc. is reportedly looking to join the SPAC parade. That’s up from earlier this month when the share of post-issuance losers stood at just under 50%.Traders have accumulated the largest short position in junk bonds since 2008 and high-grade short-selling has risen to its highest level since early 2014.The pickup in reflation bets in markets matches the outlook among economists surveyed by Bloomberg. Hippo Enterprises said it will go public through a merger with Reinvent Technology Partners Z, a SPAC backed by Mark Pincus and Reid Hoffman. 0. The solution Mexico has chosen is to push more of it into electricity generation, replacing cleaner-burning natural gas. The agency is plagued with setbacks that are causing a major backlog of returns. Hippo’s SPAC merger follows the recent deals by CCC Information and Metromile Inc. March 4, 2021. And this brings us to the small-cap stocks. Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. US-based insurtech startup Hippo is reportedly in merger talks with special purpose acquisition company (SPAC) Reinvent Technology Partners, to go public. When in February Glauber Contessoto decided to invest his life savings in Dogecoin (CRYPTO: DOGE), his friends questioned his mental soundness. It also offers an insight into Soros’s investment firm, which is run by Chief Investment Officer Dawn Fitzpatrick.She told Bloomberg in March that she was willing to jump on dislocations in the market, investing $4 billion during the pandemic-induced swoon a year ago, including buying residential mortgages on the cheap. “The demand profile from InP (optics, health monitoring) and GaAs (5G, optics, 3DS, microLED) are as powerful as any we can find across small-cap tech. AM Best put Spinnaker’s credit rating under review in June last year following Hippo’s acquisition of the fronting insurer, but the ratings agency ultimately kept the carrier at A-.. Hippo’s deal with Reinvent is the latest in a string of insurance tech firms, or “insurtech” as they are popularly referred to, taking the SPAC merger route to go public. “There is a tension between bund yields rising as the market prices out ECB support and, at the same time, it putting upward pressure on peripheral borrowing costs.”Long-term investors have had to pay up for the privilege of holding German debt, which is seen as some of the safest that money can buy -- a reflection of its scarcity and the ECB’s extraordinary package of stimulus measures. “Investing and partnering with this kind of company, this kind of transformation, this kind of team -- that’s why I do investing.”, Transaction values the combined entity at $5 billion, Hippo, Reinvent agree to set a two-year lock-up on shares. The two parties have also agreed to a long-term lock-up on founder shares for up to two years, a move that Wand said helps align everyone’s motives for long-term growth. Instead of deciding what to invest in based on fundamentals, they invest according to what is funny or futuristic-looking or by how many celebrities are tweeting about it. (Bloomberg) -- Billionaire George Soros’s investment firm snapped up shares of ViacomCBS, Discovery and Baidu as they were being sold off in massive blocks during the collapse of Bill Hwang’s Archegos Capital Management.Soros Fund Management bought $194 million of ViacomCBS Inc., Baidu Inc. stock valued at $77 million, as well $46 million of Vipshop Holdings Ltd. and $34 million of Tencent Music Entertainment Group during the first quarter, according to a regulatory filing released Friday. Hippo's SPAC merger follows the recent deals by CCC Information and Metromile Inc. All rights reserved. Hippo’s SPAC merger follows the recent deals by CCC Information and Metromile Inc. Hippo is one of the latest insurance-techs to use a SPAC to go public. Hippo in talks over possible SPAC deal: Bloomberg 2021-02-06T02:38:00 Homeowners insurtech Hippo is in talks over a special purpose acquisition company (SPAC) merger in a deal that would value the platform at more than $5bn, according to a Bloomberg report. The deal values the combined entity at $5 billion, the companies said Thursday in a regulatory filing. AXT develops and manufactures the high-performance rare-metal substrate wafers necessary in the construction of semiconductor chips and optoelectronic devices. Congress pushes to cancel some student loan debt while Biden makes up his mind, U.S Mortgage Rates Fall Again, Leaving Rates at sub-3% for a 4th Consecutive Week. “It’s a joke coin. US Home Insurance company Hippo Enterprises is coming to the New York Stock Exchange via a $5 billion SPAC. The two are not always the same thing, but they both are vital for successful investing. So, it’s naturally generating lots of speculative investor interest. If you need to apply for Social Security disability insurance (SSDI), there are a few things you need to know. The transaction with the SPAC, which counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors, is set to value the combined entity… Hippo, an insurance technology startup, is in talks to go public through a merger with Reinvent Technology Partners, Bloomberg reports, citing people with knowledge of the matter. Two of the world's most prominent billionaires Tesla Inc.'s CEO Elon Musk and Jack Dorsey are facing off over the merits of bitcoin, with the future of the world's No. The IRS detailed on how it will handle a mixup involving a tax break for jobless benefits that became law a month after many already filed returns. It’s a meme. Founded in 2015, Palo Alto-based Hippo sells homeowners insurance online and the merger with special purpose acquisition company (SPAC) Reinvent Technology Partners Z will include a private investment of about $450 million and give it $1.2 billion in cash. It’s far more likely for a $200 million company to double in value than for a $200 billion giant. Updates with CEO, Hoffman comments starting in fourth paragraph. Along with the Q1 results, AXT also announced its first deliveries of 8-inch diameter gallium arsenide (GaAs) substrates to a major customer. This Dogecoin millionaire believes that the coin's price will continue its ascent and does not want to miss out on future profits. Latest News. Home insurtech Hippo is the latest insurtech to agree a deal to go public through a merger with a special purpose acquisition company (SPAC), announcing a combination with Reinvent Technology Partners Z that includes a $550mn private investment in public equity (PIPE) with backing from Dragoneer, … Hippo Enterprises Inc. (Hippo), the home insurance group that created a new standard of care and protection for homeowners, has entered into … With the right asset allocation and withdrawal strategy, investors may not worry so much about the large sum of money in their accounts. Insurance technology unicorn Hippo Enterprises Inc. is reportedly looking to join the SPAC parade. Mark Pincus, chief executive officer of Zynga Inc., arrives for the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Tuesday, July 11, 2017. The shares are selling for $7.50 and have a $12 average price target, suggesting a 12-month upside of 60%. This year, a government commission responsible for monitoring air quality in the metropolitan area of Mexico City, sounded the alarm twice amid high ozone levels. When a SPAC announces a shareholder meeting to vote on a merger, they will also file a long form with the SEC giving a rough timeline of how the deal came together, the board’s reasons for approving it, the risks involved, and all the financial details relating to the transaction. The deal values the home insurance startup at $5 billion and will unlock $1.2 billion in capital. Then he made the unusual decision of going all-in on the coin: He maxed out his credit cards, borrowed money on Robinhood and spent everything he had. Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. Although the ECB “are buying at a stonking pace, they aren’t soaking up all the gross supply.”Reflation FrenzyWhile U.S. Treasuries have been caught in the reflation frenzy since the start of February, the fact that yields are catching up in Germany -- a bastion of tepid price increases -- is sending ripples across markets.The world’s stock of negative-yielding investment grade debt -- of which Europe made up the bulk -- has fallen to around 12 trillion dollars, the lowest level since June last year. Hippo, an insurance technology startup, is in talks to go public through a merger with Reinvent Technology Partners, Bloomberg reports, citing people with knowledge of the matter. PowerFleet’s 1Q revenue was consistent with the previous quarter, and included an improvement in earnings. Insurtech Hippo rides Spac wave. Home insurance company Hippo and Reinvent Technology Partners Z today announced a merger agreement with an enterprise value of $5 billion for the combined company. Unlike typical SPAC mergers, Reinvent and Hippo have agreed to a two-year lockup on founder shares, the statement said. Latest News. Hippo co-founder and CEO Assaf Wand said the merger is a logical next step. Let’s talk a bit about growth and potential. Such investors aren't interested in investing rationally. Hippo is one of the latest insurance-techs to use a SPAC to go public. In its plans to go public, fast-growing fintech startup Hippo is considering a SPAC. Shannon’s bullish comments back up his Buy rating, and his $17 price target suggests a 90% growth potential in the year ahead. The company holds a vital niche in the chip industry, and its revenue and earnings have been reflecting that. Hippo’s deal with Reinvent is the latest in a string of insurance tech firms, or “insurtech” as they are popularly referred to, taking the SPAC merger route to go public. The chip industry regularly works with a variety of rare metals and other pollutant chemicals – and CECO’s new contract covers scrubber and exhaust systems, as well as recirculation pumps -- items necessary for the chip maker to meet or exceed environmental regulations. CECO provides know-how and systems in a wide range of industries, including construction materials like bricks, cement, steel, and glass; and manufacturing, in the automotive, aerospace, pharmaceutical, chemical, and fuel refining sectors. Hippo Enterprises offers homeowners insurance. "We were looking for the best partner to help us on the next stage of our journey, someone who had built businesses of massive scale, and you can't find better partners for that than Mark and Reid," Hippo Chief Executive Assaf Wand told Reuters.