M1 Finance closes $45M Series C mere months after it raised its $33M Series B

Just months after it announced a $33 million Series B, Chicago-based M1 Finance today disclosed a $45 Series C.

The new financing event was led by Left Lane Capital, the same investor that led M1’s Series B. Bear in mind that so-called inside rounds are now a bullish sign in 2020, as opposed to in prior VC eras when they were viewed more cooly. Other M1 investors include Jump Capital, Clocktower Technology Ventures and Chicago Ventures, though only the first two appear to have taken part in this round.

Per M1, the Series C comes just 120 days after it raised a Series B. A good question is why M1 has raised more capital, and why Left Lane Capital wanted to lead two rounds for the consumer-focused fintech provider. Going back to our prior coverage, we can figure it out.

Chicago’s M1 Finance, a consumer-focused fintech platform, reaches $1B under

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Movie theater operator B&B Theatres says it’s months from bankruptcy

Brock Bagby, the executive vice president of B&B Theatres, next to his father Bob Bagby, the CEO.

B&B Theatres

B&B Theatres, the sixth-largest cinema chain in the U.S., has been operating for nearly 100 years. Its owners now say it is months away from filing for bankruptcy protection.

The family-owned business has 48 theaters in eight states and was forced to shutter all of those locations in March due to the coronavirus pandemic. A handful of the company’s theaters were able to reopen to the public in June, but the majority didn’t until August.

During that time, B&B Theatres was unable to pay full rent and had to spend hundreds of thousands of dollars to repair its projectors because the machinery had sat unused for so long. With Hollywood delaying the release of major blockbusters until next year, Brock Bagby, an executive vice president at B&B Theatres, said there’s little

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Benchmarks Nab Best Week in Months Amid Stimulus Buzz

The major benchmarks closed higher today, with the Dow finishing up in triple-digits for the third-straight day and marking its best week since August. The Nasdaq and S&P 500 also closed in the black, with the former scoring its best week since May, and the latter its best week since June. This volatile week of updates has investors listening for the next federal stimulus announcement, with Treasury Secretary Steven Mnuchin today presenting House Speaker Nancy Pelosi with a $1.8 trillion counteroffer to the Democrats’ $2.2 trillion package — already approved by U.S. President Donald Trump.

Continue reading for more on today’s market, including:

  • Sports betting giant could see further outperformance. 
  • Two stand-out real estate stocks with attractive options. 
  • Plus, the most recent Schaeffer’s Market Mashup; analysts chime in on semiconductor stock; and the video communications service rising once again.

The Dow Jones Industrial Average (DJI – 28,586.90)

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Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus

Welcome to Thursday’s Overnight Health Care.

Donald Trump wearing a suit and tie: Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn't visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent

© Getty Images
Overnight Health Care: Regeneron asks for emergency authorization of coronavirus treatment Trump received | McConnell says he hasn’t visited White House in two months due to coronavirus | Employer-sponsored health insurance premiums rise 4 percent

Regeneron filed for emergency authorization of its antibody COVID-19 treatment drug, just hours after President Trump claimed it basically cured him. Mitch McConnell hasn’t been to the White House in months, and a new analysis shows Americans’ job-based health care is continually getting more expensive.

We’ll start with Regeneron:

Regeneron asks for emergency authorization of coronavirus treatment Trump received

Biotech company Regeneron late Wednesday applied for emergency authorization for an experimental antibody treatment praised by President Trump.

“Subsequent to our discussions with regulatory authorities, we have submitted a request to the U.S. Food and Drug Administration for an Emergency Use Authorization (EUA) for our

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Thai Sept consumer mood drops for first time in 5 months, protests weigh

BANGKOK, Oct 8 (Reuters)Thai consumer confidence dropped in September for the first time in five months on concerns about growing political protests, a slow economic recovery and job losses from the coronavirus pandemic, a university survey showed on Thursday.

The consumer index of the University of the Thai Chamber of Commerce fell to 50.2 in September from 51.0 in August.

“Various political gatherings made people have no confidence in government stability,” while the surprise exit of the country’s finance minister last month was negative, university president Thanavath Phonvichai told a briefing.

Demonstrators have rallied against the military-backed government in larger numbers in recent months, with some also calling for reforms of the powerful monarchy. The next big protest is set for Oct. 14.

Consumers felt the economic situation remained bad as tourism has yet to recover, Thanavath said.

“If the situation does not improve, there may be more

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Flowers Foods Worth Binging on: Up More than 10% in 3 Months

Flowers Foods, Inc. FLO appears to be placed on solid grounds, thanks to its vigorous growth efforts and increased buying due to the coronavirus-induced elevated at-home consumption. Markedly, the Zacks Rank #1 (Strong Buy) stock has rallied 13.2% in the past three months compared with the industry’s growth of 7.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Moreover, the packaged bakery products provider has seen an uptrend in its Zacks Consensus Estimate for third quarter as well as 2020 earnings in the past 60 days. Evidently, the consensus mark has moved up from 22 cents to 25 cents for the third quarter, and from $1.13 to $1.22 for 2020. On that note, let’s discuss the factors that are boosting Flowers Foods’ growth.

Flowers Foods, Inc. Price, Consensus and EPS Surprise

Flowers Foods, Inc. Price, Consensus and EPS Surprise

Flowers Foods, Inc. price-consensus-eps-surprise-chart | Flowers Foods, Inc. Quote

Factors Enriching Flowers

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Volatile emerging market currencies won’t dissipate for next six months: report

Volatility in emerging market currencies will not let up in the next six months as U.S. presidential election jitters mount and domestic economic growth tapers off, a Reuters poll of market strategists showed.

Most emerging market currencies were forecast to weaken or at best cling to a range over the next three to six months but will rise about 2% on average in a year, supported by a weaker dollar, the Sept. 28-Oct. 5 poll found.

Reuters surveys since the global shutdown in activity in March have been consistently concluding emerging market currencies will not recoup even half their coronavirus-induced 2020 losses within a year.


Still, a steep dollar selloff, which just posted its worst quarter in three years as expectations for a swift recovery from the

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Gold dips as dollar ticks up; set for best week in nearly two months

By Brijesh Patel

(Reuters) – Gold was headed on Friday for its best weekly gain in nearly two months, despite prices slipping from a more than one-week high as the dollar strengthened amid doubts regarding the U.S. stimulus package.

Spot gold was down 0.7% at $1,892.06 per ounce by 0306 GMT, after rising 1% to a 1-1/2-week high of $1,911.66 in the previous session. U.S. gold futures dropped 1% to $1,898.

However, bullion has gained 1.8% this week, its biggest weekly percentage rise since the week ended Aug. 7.

“There was increased optimism about the stimulus talks, but late in the day that optimism fell away and as a result the dollar rallied a bit and we are seeing a retreat in gold,” said Edward Meir, an analyst at ED&F Man Capital Markets.

The dollar index rose 0.2% against its rivals, making gold more expensive for holders of other currencies.

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PhonePe sells 5 lakh insurance plans in five months

NEW DELHI: Post covid-19 mobile payment apps have emerged as an important platform for selling and purchasing insurance plans, especially in tier 2-3 cities where many are buying insurance for the first time. Flipkart-owned Phone Pe, which has over 70% of users in tier 2 and 3 cities, has sold over 5 lakh insurance policies between April and August.

According to PhonePe, many of them were first time buyers and came from tier 2-3 cities such as Visakhapatnam, Jaipur, Ahmedabad, Nashik, Vijayawada and Aurangabad.

Until last year, recharges, booking movie tickets and contactless payments at stores and restaurants was the focus area for most payment apps. After covid-19, PhonePe like most of its rival apps started diversifying into other areas and introduced insurance and grocery shopping on its apps.

PhonePe added insurance products on its platform 9 months ago and currently has 5-6 plans such as covid-19 insurance, hospital daily

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