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July 9, 2019 The Week: On Monday, the Federal Reserve announced that it was cutting interest rates for the first time since the financial crisis. The cut was seen as a response to the economic slowdown that has been seen in the U.S. and around the world. The Fed also indicated that it may cut rates further if needed. The news sent stocks soaring, and the U.S. dollar fell sharply against other major currencies. On Tuesday, the Federal Reserve released its quarterly economic report, which showed that the U.S. economy is slowing. The report showed that consumer spending, business investment, and exports were all weaker than expected. The report also showed that inflation has been running below the Fed's 2% target. On Wednesday, the Federal Reserve released the minutes from its June meeting, which showed that officials were split on the decision to cut interest rates. Some officials argued for a larger cut, while others felt that a smaller cut was sufficient. The minutes also showed that the Fed was divided on what to do next, with some arguing for further rate cuts, while others were hesitant to do so. On Thursday, the Labor Department released its monthly jobs report, which showed that the U.S.
ECB-Fed Divergence May Limit EUR/USD Gains Above 1.0500 - Action Forex
The US dollar is giving back gains despite the tariff talk, rate cuts in Australia and New Zealand and despite the hawkish Federal Reserve (Fed) minutes that hinted that the Fed officials are inclined to keep the rates unchanged until they see ‘further progress on inflation before making additional adjustments’. The dollar index tested the 100-DMA yesterday and is consolidating near that level this morning. The major support to the September to January rebound – or say the Trump rebound – is seen near the 106 level. A move below this level could mark the end of the kneejerk Trump rally in the US dollar and send the greenback into the medium-term bearish consolidation zone and let the major peers regain some ground despite dovish expectations there.
Eyes on PMIs and the German Federal Election this Sunday - Action Forex
Over the weekend, the German federal election takes place. A key theme is how to revive the ailing economy, meaning the outcome could have substantial implications for future growth. The most likely result of the German election is a coalition between the conservative CDU/CSU and the Social Democrats (SPD) 'Grand Coalition' or the Greens 'Black-Green'. In both cases with CDU's Friedrich Merz as chancellor. We estimate a 50% probability of a reform of the 'debt brake', which could allow an increased structural deficit, potentially boosting GDP growth over the coming years significantly. In absence of a reform, similar fiscal stimulus would likely come from targeted off-budgets funds. For details, see Research Germany - Limited economic impact of German election, 6 February.
FIRST BANCSHARES, INC. ANNOUNCES ANNUAL CASH DIVIDEND OF $0.40 PER SHARE - ForexTV
MOUNTAIN GROVE, Mo., Feb. 21, 2025 (GLOBE NEWSWIRE) -- First Bancshares, Inc. (OTCQX: FBSI), the holding company for Stockmens Bank (“Bank”), Colorado Springs, Colorado, announced today that its Board of Directors declared an annual cash dividend of $0.40 per share on the Company’s outstanding common stock. The cash dividend will be payable on April 15, 2025 to shareholders of record as of the close of business on April 1, 2025. About the Company First Bancshares, Inc. is the holding company for Stockmens Bank, a FDIC-insured commercial bank chartered by the State of Colorado that conducts business from its home office in Colorado Springs, Colorado, and eight full-service offices in the Missouri cities of Mountain Grove, Marshfield, Ava, Kissee Mills, Gainesville, Hartville, Crane and Springfield, as well as full-service offices in Akron, Colorado and Bartley, Nebraska. Cautionary Note Regarding Forward-Looking Statements The Company and its wholly owned subsidiary, Stockmens Bank, may from time to time make written or oral “forward-looking statements” in its reports to shareholders and in other communications by the Company. These forward-looking statements are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to the Company’s beliefs, expectations, estimates and intentions that are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company’s control. Such statements address the following subjects: future operating results; customer growth and retention; loan and other product demand; earnings growth and expectations; new products and services; credit quality and adequacy of reserves; results of examinations by our bank regulators; technology; and our employees. The following factors, among others, could cause the Company’s financial performance to differ materially from the expectations, estimates and intentions expressed in such forward-looking statements: the strength of the United States economy in general and the strength of the local economies in which the Company conducts operations; the effects of, and changes in, trade, monetary, and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; inflation, interest rate, market, and monetary fluctuations; the timely development and acceptance of new products and services of the Company and the perceived overall value of these products and services by users; the impact of changes in laws and regulations applicable to financial services companies; technological changes; acquisitions; changes in consumer spending and savings habits; and the success of the Company at managing and collecting assets of borrowers in default and managing the risks of the foregoing. The foregoing list of factors is not exclusive. The Company does not undertake, and expressly disclaims any intent or obligation, to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company. Contact: Robert M. Alexander, Chairman and CEO - (719) 955-2800
Singular Genomics Announces Closing of Acquisition by Deerfield Management - ForexTV
SAN DIEGO, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Singular Genomics Systems, Inc. (Nasdaq: OMIC), a company leveraging novel next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, announced today the closing of its acquisition by an affiliate of Deerfield Management Company, L.P. On December 23, 2024, Singular Genomics announced that Deerfield had signed a definitive agreement to acquire all of the outstanding shares of Singular Genomics common stock not currently owned by Deerfield for $20.00 per share in cash. Following the satisfaction of customary conditions, including a vote of the holders of Singular Genomics’ common stock to approve the transaction, which occurred on February 19, 2025, the transaction has now closed. Effective as of closing, Singular Genomics now operates as a private company, which the Singular Board of Directors believes will provide the Company with greater flexibility to continue advancing its business strategy. Trading of Singular Genomics’ common stock has been suspended on Nasdaq and Singular Genomics has requested that its common stock be delisted from Nasdaq. Pursuant to the transaction, Josh Stahl has been appointed to lead Singular Genomics as Chief Executive Officer and will join the company’s Board of Directors. Jason Myers will also join the Board. Drew Spaventa, co-founder of Singular Genomics and the company’s previous Chief Executive Officer and Chairman, will continue to serve on the Board and assume an additional role as special advisor to the CEO. “We are pleased to support Singular Genomics during this important transition,” said Andrew ElBardissi, M.D., Partner at Deerfield. “We look forward to this new direction for the company and its technology as Singular continues its work to provide physicians and scientists with crucial sequencing and multiomics information.” AdvisorsTD Securities and Houlihan Lokey served as financial advisors to the Special Committee of the Singular Genomics Board of Directors, Gunderson Dettmer, LLP served as legal advisor to Singular Genomics, and Richards, Layton & Finger, P.A. served as counsel to the Special Committee of the Singular Genomics Board of Directors. Katten Muchin Rosenman LLP served as legal advisor to Deerfield. About Singular Singular Genomics is a life science technology company that develops next-generation sequencing and multiomics technologies. The commercially available G4® Sequencing Platform is a powerful, highly versatile benchtop genomic sequencer designed to produce fast and accurate results. In addition, the Company is currently developing the G4X™ Spatial Sequencer, which will leverage its proprietary sequencing technology, applying it as an in situ readout for transcriptomics, proteomics and fluorescent H&E in tissue, with spatial context and on the same platform as the G4. Singular Genomics’ mission is to empower researchers and clinicians to advance science and medicine. Visit www.singulargenomics.com for more information. About DeerfieldDeerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. The firm works across the healthcare ecosystem to connect people, capital, ideas and technology in bold, collaborative and inclusive ways. For more information, visit www.deerfield.com. Forward-looking StatementsCertain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “foresees,” “forecasts,” “guidance,” “intends” “goals,” “may,” “might,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “targets,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Singular Genomics’ results is included in its filings with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and future reports that Singular Genomics may file with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by Singular Genomics in this press release speaks only as of the day on which Singular Genomics makes it. Singular Genomics assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release. Investor ContactPhilip Trip TaylorGilmartin Groupir@singulargenomics.com Media ContactMatt Browningpr@singulargenomics.com