Markets

Gold Reserve Ltd. clarified that Amber Energy’s bid in Venezuelan asset legal proceedings does *not* include a $500 million cash payment to Gold Reserve, contrary to recent speculation. The offer proposes only a 15% recovery on a potential $500 million claim, subject to court and company approvals. Gold Reserve emphasized that any suggestion of a $500 million cash payment is misleading. The company cautioned investors regarding forward-looking statements and uncertainties impacting potential outcomes. This clarification highlights the importance of scrutinizing details in complex financial proposals.

Century Communities (NYSE: CCS) announced a $500 million private offering of 6.625% Senior Notes due 2033. Net proceeds, estimated at $494 million, will be used with cash reserves to redeem existing 6.750% Senior Notes due 2027. The offering, expected to close September 17, 2025, targets qualified institutional buyers and non-U.S. individuals. This refinancing aims to optimize the company’s debt structure. The notes and related guarantees are not registered under the Securities Act of 1933.

AGNC Investment Corp. (Nasdaq: AGNC) announced the pricing of a public offering of 12,000,000 depositary shares representing preferred stock, with gross proceeds of $300 million. Underwriters have a 30-day option for additional shares. Listing on Nasdaq is planned under “AGNCZ,” with closing expected around September 10, 2025. Proceeds will be invested in a diversified portfolio including Agency securities and credit risk transfer securities. Managed by a consortium of financial institutions, the offering is under an existing shelf registration statement. The strategy aims to bolster capital amid volatile market conditions.

Cushman & Wakefield announced the appointment of Jordan McCarley as Executive Vice Chair to expand its Carolinas Institutional Multifamily Advisory team and strengthen its Sunbelt Multifamily Advisory Group. McCarley, a seasoned multifamily investment advisor with over $20 billion in closed transactions, returns to Cushman & Wakefield to enhance client engagement and navigate evolving market conditions. This strategic hire underscores the firm’s commitment to growth in the Sunbelt region’s multifamily sector, leveraging McCarley’s expertise to provide unparalleled service during a complex market phase.

Haier acquired a 43% stake in Autohome for $1.8 billion amid the latter’s declining revenue and profits. The move raises questions about synergy and revitalization, considering Autohome’s past issues with excessive advertising, fake users, and declining content quality which eroded user trust. Autohome’s struggles stem from prioritizing monetization over user experience, highlighted by its lead generation strategy and KPI-driven culture under previous ownership. The acquisition’s success hinges on addressing these core issues and prioritizing a sustainable future focused on user experience.

Immunovant announced positive six-month remission data for batoclimab in uncontrolled Graves’ disease. ~80% of patients (17/21) maintained normal thyroid function after stopping treatment, with ~50% (8/17) achieving complete remission without anti-thyroid drugs. Another 30% needed only minimal doses. IMVT-1402, is being evaluated in two trials with results expected in 2027. This therapy targets the autoimmune root of Graves’ disease by blocking FcRn. If successful, this could significantly improve treatment for Graves’ disease patients.

Westwood One, Cumulus Media’s audio network, is set for its 39th NFL season, offering extensive coverage of key games including Monday, Sunday, and Thursday Night Football, plus international games and Super Bowl LX. Veteran voices Kevin Harlan and Kurt Warner lead commentary for Monday Night Football. Expanded pregame and halftime shows will be hosted by Mike Golic Sr. and Jr. Coverage is accessible via 500+ radio stations, SiriusXM, and Westwood One’s enhanced sports website and app.

Alphabet’s stock surged to a record high after a U.S. court ruling favored Google, allowing it to retain Chrome, Android, and its practice of paying Apple to be the default search engine. Analysts revised their outlook, with JPMorgan Chase and Bank of America raising price targets. Apple’s stock also benefited due to continued payments from Google. The decision removes regulatory uncertainty, enabling Google to maintain dominance and pursue AI innovation, solidifying its position in the tech landscape; however, ongoing antitrust concerns remain a risk.

NetBrands Corp (NBND) appointed Nico Smid of Digital Mining Solutions as a strategic advisor to enhance its Bitcoin mining and digital asset management capabilities. Smid brings 15+ years of international business experience and expertise in the digital asset space since 2017, including a network of over 12,000 newsletter subscribers. The appointment signifies NetBrands’ expansion into Bitcoin mining and Web 3.0, aiming to strengthen its position in these evolving sectors.

Rivian (RIVN) announced that CEO RJ Scaringe will participate in a fireside chat at Morgan Stanley’s Laguna Conference on September 11th at 4:50 PM PT. A live webcast will be available. Rivian, focused on electric vehicles and integrated services, aims to be a key player in the EV market. The company’s strategy includes software, services, and infrastructure, targeting both consumer and commercial applications with a commitment to sustainability. The event offers insights into Rivian’s strategy and growth plans.