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19.12.25 - 22:18
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Kevin Plank, Goldman Sachs Exit Any Further Development Of Billion-Dollar Ghost Town (ZeroHedge)
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Kevin Plank, Goldman Sachs Exit Any Further Development Of Billion-Dollar Ghost Town
Under Armour founder and CEO Kevin Plank, along with Goldman Sachs, is stepping away from further development of Baltimore Peninsula, formerly known as Port Covington, a 235-acre mixed-use waterfront redevelopment project in South Baltimore. Originally pitched as a 14-million-square-foot mini-city anchored by a new UA headquarters, a new report says less than 10% of the planned project has been built.
Representatives for Plank's real estate development company, Sagamore Ventures, and its equity partner, Goldman Sachs, told the local paper, The Baltimore Banner, that they will remain owners of the current Baltimore Peninsula development but will exit the rest of the project, much of which remains underdeveloped.
"Baltimore Peninsula is becoming a dynamic, connected community that adds real momentum to South Baltimore and serves as a source of pride for Under Armour and the city," Plank told the outl...
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19.12.25 - 20:24
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Santa Rally Still in Play as Stocks Climb | Open Interest 12/19/2025 (Bloomberg)
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Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." A Santa Rally is still in the cards as as Goldman Sachs and Citadel Securities join the bulls in predicating more gains. Nike's turnaround looses traction with the stock headed for its fourth consecutive annual decline. And: TikTok says it's being acquired by a group of buyers led by Oracle to create a US joint venture majority-owned by American investors. And Julian Salisbury, partner and co-chief investment officer for Sixth Street, discusses the year that was for private credit and looks ahead to 2026. (Source: Bloomberg)...
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19.12.25 - 14:57
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Futures Rise Ahead Of Record $7 Trillion Opex, Yen Tumbles After BOJ Rate Hike (ZeroHedge)
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Futures Rise Ahead Of Record $7 Trillion Opex, Yen Tumbles After BOJ Rate Hike
Stocks look set toclose out a choppy week on a steady note, building on Thursday's gains, spurred by cooler inflation that backs the case for lower borrowing costs. As of 8:00am, S&P 500 futures were 0.1% higher while Nasdaq 100 contracts were up 0.2% after the WSJ reported that OpenAI is set to raise $100BN in fresh capital (from sov wealth funds) removing near-term funding pressures across the AI sector. In premarket trading Oracle is up 6%, off session highs, with the rest of the Mag 7 complex mostly higher. In a risk-on set-up, bitcoin is also higher, while Treasuries are down. Gold is hovering near its highest ever, and a separate Goldman team reckons its record-setting rally still has legs, and could push the yellow metal above $5000. US economic calendar includes November existing home sales, December University of Michigan sentiment (10am), and Kansas City Fed services activity (11am). Fed's Williams is...
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19.12.25 - 14:57
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Goldman Turns "Incrementally Cautious" On Nike As China Sales Plunge (ZeroHedge)
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Goldman Turns "Incrementally Cautious" On Nike As China Sales Plunge
Nike shares tumbled the most in eight months in premarket trading in New York after a mixed third quarter, reigniting concerns that turnaround efforts are being slowed by soft demand trends in China and ongoing problems at Converse.
North America was a bright spot in second-quarter earnings. Citi analyst Paul Lejuez noted that product liquidations contributed to the growth. As those actions expired, underlying sell-through trends softened.
China remained the most challenging sales market for the world's largest sportswear company in the quarter. This prompted Piper Sandler analysts to cut their price target on the stock due to a lackluster recovery in the world's second-largest economy.
Sales in China last quarter plunged 17%, while Converse sales imploded by 30%.
Key earnings in the quarter:
Top line: Revenue of $12.43 billion rose .6% year over year, beating consensus. Nike brand revenue increased 1.5%, also ah...
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19.12.25 - 10:01
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US CPI Hasn′t Changed Much for US Equities, Goldman Says (Bloomberg)
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Peter Oppenheimer, chief global equity strategist at Goldman Sachs, discusses the outlook for equities in 2026 in light of this week's US CPI print. "The central backdrop, I think, is relatively benign for risk assets, for equities broadly," he tells Bloomberg Television. Oppenheimer also discusses why he expects index returns next year to be "pretty decent" but not as strong than those seen in 2025. (Source: Bloomberg)...
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