|Bid||10.49 x 800|
|Ask||10.50 x 1000|
|Day's Range||10.40 - 10.78|
|52 Week Range||9.70 - 15.10|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- Hedge fund manager Steve Cohen found a buyer for his midtown Manhattan penthouse. It took eight years and a 74% price cut.Cohen’s 9,000-square-foot (836-square-meter) duplex at 151 East 58th St. is under contract in Manhattan’s priciest deal last week, according to a report Monday by luxury brokerage Olshan Realty Inc.The sale marks the end of a journey that began in 2013 when Cohen, founder of Point72 Asset Management and owner of the New York Mets, listed the place for $115 million. The asking price was reduced several times since, most recently to $29.5 million, according to StreetEasy. The final sale price won’t be known until the deal closes.A spokesman for Cohen, Jonathan Gasthalter, declined to comment on the deal. Cohen paid $24 million for the apartment in 2005.The unit, on the 51st and 52nd floors of One Beacon Court, has five bedrooms, six full bathrooms and 24-foot (7.3-meter) ceilings in the living room, where the windows offer views of Central Park, according to the listing.The property bounced among at least four brokerages, finally landing with Christie’s International Real Estate, which put it on the market in October 2019 for $34 million. A team led by Erin Boisson Aries had the listing.Buyers are returning to Manhattan’s luxury apartment market, seizing an opportunity for deep discounts amid a mountain of supply. Last week alone, there were 51 contracts signed in Manhattan for homes priced at $4 million or higher, according to Olshan’s report. It was the 10th straight week with 30 or more deals in that price range, the longest streak in data going back to 2006.(Updates with brokerage information in sixth paragraph.)For 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.
(Bloomberg) -- Uber Technologies Inc. said gross bookings last month were the highest in a year as vaccination rates increase in the U.S., encouraging more people to get out of their homes.The company’s mobility unit, which handles ride-hailing services, passed $30 billion in annualized gross bookings run rate in March, Uber said in a securities filing Monday. Average daily bookings rose 9% from February.At the same time, Uber’s delivery service grew more than 150% from a year earlier, crossing a $52 billion annualized run rate in March. The shares were up about 3% Monday at noon in New York.The San Francisco-based company was hard hit when the pandemic struck last year and people stopped going in to work and school and avoided most communal transportation. Its food-delivery service, Uber Eats, benefited, however, with restaurants shuttered and more people ordering takeout. The filing showed that Uber is seeing strong demand for both offerings.Demand for rides is recovering faster than Uber’s ability to find drivers, the company said, and demand for meal delivery continues to exceed courier availability. Last week, Uber said it would spend $250 million to get drivers back on the road and recruit new ones as the coronavirus pandemic eases in the U.S.“We are absolutely looking to balance supply and demand, and if we need to continue to lean in to bring drivers out into safe earnings opportunities, we will do what we need to,” Chief Executive Officer Dara Khosrowshahi said Monday in an interview on CNBC.Uber said that as a result of a recent ruling in the U.K. that will require it to classify its drivers as workers, the company expects to record a significant accrual related to these historical claims and other related costs in its first quarter 2021 results.The company said it’s still on track to reach profitability in quarterly adjusted earnings before interest, taxes, depreciation and amortization in 2021. “We think we’re going to have a combination of profitable businesses, and we’re going to have a combination of businesses that are very, very early in their growth trajectory,” Khosrowshahi said. “But first, we want to get to overall profitability, and we’re confident we will this year.”One possible future business Khosrowshahi alluded to in the interview Monday: marijuana delivery. “When the road is clear for cannabis, when federal laws come into play, we’re absolutely going to take a look at it,” Khosrowshahi said.Read more: Weed Customers Are Everyone’s Dream Demographic: Cannabis Weekly(Updates with CEO comments in the last paragraph.)For 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.
(Bloomberg) -- Business sentiment rose to near record levels at the start of 2021 on an improving outlook for both domestic and foreign demand, according to the Bank of Canada.The results its latest quarterly survey of executives show business conditions continuing to improve, with many firms no longer worried about pandemic uncertainty. Managers reported stronger sales outlooks, investment intentions and accelerating inflation expectations, though they indicated capacity constraints were slightly weaker at about historical averages. The central bank also highlighted, as it has been doing throughout the recovery, the unevenness of the rebound.The Bank of Canada’s composite gauge of sentiment rose to 2.9 in the first quarter, the highest since 2018 and the third highest score in data going back to 2003. That’s up from 1.3 in the fourth quarter and a decade-low of -6.9 at the height of the pandemic last year. The indicator hit a record of 3.0 in the second quarter of 2018.“Firms reported less uncertainty related to the Covid‑19 pandemic and strengthening demand from weak levels,” the central bank said in its summary of the findings. “Still, the recovery remains uneven, with firms tied to high-contact services facing ongoing challenges.”The results of the survey will only fuel expectations the Bank of Canada will start tightening its aggressive monetary policy stance as early as its April 21 policy decision, when it could begin slowing the pace of its government bond purchases. Separately, the central bank issued its quarterly survey of consumers that also found spending expectations at a record.The interviews in the Bank of Canada business outlook survey were conducted from mid-February to early March, before new economy-wide restrictions were imposed amid a third wave of Covid-19 cases. The data, though, do show signs businesses are adapting to containment measures, including a greater capacity for online sales, according to the central bank.Other HighlightsNearly two-thirds of firms indicate sales have reached or exceeded pre-pandemic levelsStill, some businesses in high-contact sectors are hurting. One‑fifth of managers said they don’t expect sales to return to pre-pandemic levels over the next 12 months60% of firms reported improving indicators of future sales, up from 41% at the end of last yearInvestment intentions are at record highs with 59% of managers saying they plan higher spending on machinery and equipment over the next 12 months.Only 6% of companies see lower employment levels over the next 12 months. 51% expect to increase staff, slightly down from 54% at end of last yearMore than half of firms see inflation at above 2%, the first time it’s past the 50% threshold since 2018The balance of opinion for both input and output price inflation is highest on record(Updates with consumer survey results in 5th paragraph.)For 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.