Month: January 2021

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Dow jumps 300 points as firms rally against GameStop stock transactions

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The Dow Jones Industrial Average gained 300.19 points while the S&P 500 climbed 0.98% and the Nasdaq Composite increased 0.50% as U.S. markets rebounded on Thursday.  Brokerage firms took steps to restrict an influx of transactions on heavily shorted stocks, after the stock trading app Robinhood restricted trades involving GameStop, AMC, Blackberry, and Nokia. 

All four stocks plummeted Thursday; they were popular on Reddit r/WallStreetBets, where users banded together to drive up prices of such stocks despite traditional hedge funds that had shorted them. AMC fell 56.63%, GameStop dropped 44.29%, Blackberry fell 41.63% and Nokia slipped 28.4%.

Robinhood said it restricted trading in the stocks “in light of recent volatility” and also updated its instructional tools to help people “educate themselves, including how to make sense of a volatile market.”

Stocks soar as GameStop, AMC get pounded

Via www.foxbusiness.com
U.S. equity markets rallied Thursday as heavy trading in shares of GameStop, AMC and others…
 

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First cases in the U.S. of South African COVID-19 variant reported in South Carolina

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Health officials in South Carolina announced Thursday that they have identified two cases of a COVID-19 variant that emerged recently in South Africa. The two cases are the first found of the mutated virus in the United States. According to South Carolina’s Department of Health and Environmental Control, federal officials identified the B.1.351 variant in adults from the state’s Lowcountry and Pee Dee regions. The patients have not traveled internationally and did not know each other.

Interim DHEC Public Health Director Dr. Brannon Traxler said in a statement, “The arrival of the SARS-CoV-2 variant in our state is an important reminder to all South Carolinians that the fight against this deadly virus is far from over. While more COVID-19 vaccines are on the way, supplies are still limited. Every one of us must recommit to the fight by recognizing that we are all on the front lines now. We are all in this together.”

New variants first reported in Britain and South Africa are said to be more transmissible, but most experts have said the available vaccines from Pfizer and Moderna should also be effective against the mutated strains.

First U.S. cases of COVID-19 variant from South Africa found in South Carolina

Via www.cbsnews.com
A new and highly contagious coronavirus variant first identified in South Africa has been found…
 

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Pittsburgh Steelers quarterback Ben Roethlisberger willing to restructure his contract to remain on team for 2021 season

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Pittsburgh Steelers quarterback Ben Roethlisberger said that he’s “pretty sure” he wants to return to the team for the 2021 season and is willing to restructure his contract. Due to a drop in revenue as a result of the COVID-19 pandemic, Roethlisberger’s $41.2 million cap hit for next season presents a problem for the Steelers. Roethlisberger said on Thursday, “I want to do everything I can and made that very clear to them from the very beginning that it was my idea to basically help the team however I can this year… I am pretty sure I want to go one more year [because] I think I can do it and give us a real chance [at] winning.”

Earlier Thursday, Steelers’ CEO Art Rooney II told reporters the team have left the door open for Roethlisberger to return, but it will depend on whether adjustments are made to his contract. “I think we’ve been up front with Ben in letting him know that we couldn’t have him back under the current contract,” Rooney said. “I think he understands we have some work to do there. We’ll have more conversations internally, and we’ll have more conversations with Ben. We’ll have to know what the cap number is to finalize some of those decisions. With Ben, we owe it to him to have a conversation about how he wants to end his career, and we intend to do that… I think we’d like to see Ben back for another year if that can work. But as we said, there’s a lot of work to be done if that can happen. There may need to be decisions on both ends for that to happen.”

Big Ben vows to help Steelers with $41M cap hit

Via www.espn.com
Pittsburgh Steelers quarterback Ben Roethlisberger says he is willing to work with the team on a…
 

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Houston Texans Deshaun Watson officially requests trade from team

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Quarterback Deshaun Watson has officially requested a trade from the Houston Texans after months of speculation. On Thursday, Watson informed the team that he wanted to be traded.

Reports of Watson’s trade request emerged less than 24 hours after news broke that the Texans plan to hire David Culley as their next coach. However, sources said that Watson made the request before Culley’s hire. Watson has a no-trade clause in his contract, which means he can decide where he plays next based on offers the Texans receive.

The 25-year-old quarterback completed a career-high 70.2% of his throws for 33 touchdowns, seven interceptions and an NFL-high 4,823 yards in 16 starts this season. He has made the Pro Bowl for each of the last three seasons. He signed a four-year, $160 million contract extension in September. 

Sources: Watson has asked Texans to trade him

Via www.espn.com
Quarterback Deshaun Watson officially requested a trade from the Texans weeks ago, sources told…
 

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Atlanta Braves to honor Hank Aaron with $2 million diversity fund

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The Atlanta Braves announced on Wednesday the formation of the Henry Louis Aaron Fund, pledging $1 million to increase diversity across baseball.  In a statement from the Braves, MLB and the MLBPA have donated an additional $500,000 as the sport looks to increase “access and opportunities in the areas of sports, business, education and social and racial equality,”  The Henry Louis Aaron Fund was announced during the memorial service for Braves legend Hank Aaron, who passed away over the weekend at the age of 86.

Aaron stood as baseball’s home run king for over 30 years, and served as a fierce advocate for equality and inclusion throughout baseball. Aaron faced intense racism throughout his playing career, including during his chase to break Babe Ruth’s home run record in 1974. Aaron retired in 1976 with one of the greatest resumes in baseball history. He tallied 25 All-Star Game appearances and is the all-time record holder for RBI and total bases.  Aaron’s 755 career home runs sit second all-time behind former Giants slugger Barry Bonds.

Braves announce formation of $2 million Hank Aaron fund to grow diversity in baseball

Via www.msn.com
Atlanta Braves chairman Terry McGuirk announced at Aaron’s memorial service on Tuesday…
 

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Federal judge temporarily blocks Biden’s 100-day deportation ban

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On Tuesday, a federal judge in Texas temporarily blocked President Joe Biden’s 100-day pause on deportations. Federal Judge Drew Tipton granted a temporary restraining order in response to a lawsuit by state Attorney General Ken Paxton, which in part cited an agreement between Texas and the U.S. Department of Homeland Security that required the agency to consult the state before instituting policy changes.

Judge Tipton explicitly stated his order applies nationwide and effectively directed Immigration and Customs Enforcement to resume deportations for at least 14 days as he considers a broader motion for a preliminary injunction.  He wrote, “The issues implicated by that agreement are of such gravity and constitutional import that they require further development of the record and briefing prior to addressing the merits.”

Last week, Biden halted all deportations to “review and reset enforcement priorities” after the Trump administration instituted a “zero tolerance” policy for undocumented migrants. The order included exceptions for migrants who have engaged in or were suspected of terrorism or espionage or considered a threat to national security as well as allowing the ICE administrator to intervene in individual deportation cases.

Judge temporarily blocks Biden’s plan to halt deportations

Via www.msn.com
The early defeat demonstrates the limits of President Joe Biden’s executive actions, which are…
 

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Antony Blinken confirmed by Senate as 71st secretary of state

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On Tuesday, the Senate confirmed Antony Blinken to serve as President Joe Biden’s secretary of state, with an overwhelming 78-22 vote. Blinken served as deputy secretary of state under former President Barack Obama.

Blinken, 58, a foreign policy expert, played a key role in crafting U.S. foreign policy actions in the Middle East. He is considered by many a moderate and is expected to play a key role in rejoining the United States to the Paris Climate Agreement.

Blinken joins several others confirmed to Biden’s Cabinet in recent days, including Treasury Secretary Janet Yellen, Defense Secretary Lloyd Austin, national security adviser Jake Sullivan and Director of National Intelligence Avril Haines.

Senate confirms Antony Blinken as Biden’s secretary of state

Via www.msn.com
In a strong show of bipartisan support, the Senate voted 78 to 22 to confirm Antony…
 

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Philadelphia Phillies Sign J.T. Realmuto to Five-Year, $115.5 Million Deal

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The Philadelphia Phillies agreed to a five-year, $115.5 million contract with catcher J.T. Realmuto on Tuesday.  The 29-year-old Realmuto is a two-time All-Star and two-time Silver Slugger honoree. He was traded to Philadelphia in February 2019 after five seasons with the Marlins. Realmuto posted a .840 OPS in 2020, earning 36 home runs and 115 RBI in just over 700 at-bats with the Phillies.

Realmuto will now earn more than any catcher in baseball in 2021, passing Buster Posey’s $21.4 million salary with the Giants. Realmuto’s contract marks the highest average annual value for any catcher in MLB history, surpassing the $23 million mark previously earned by former Twins catcher Joe Mauer.

All-Star catcher J.T. Realmuto signing 5-year deal with Phillies

Via www.upi.com
The Philadelphia Phillies are signing All-Star catcher J.T. Realmuto to a massive five-year…
 

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For first time since 1960 no players are elected to Baseball Hall of Fame f

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For the first time since 1960, the National Baseball Hall of Fame will not have a new group elected in 2021. The Baseball Writers’ Association of America announced Tuesday night that none of the players on the 2021 ballot reached the 75% threshold needed for the honor, making it the first time since 2013 that the BBWAA didn’t elect anyone. Due to the COVID-19 pandemic postponing the Era Committee elections until next winter, there will be no Class of 2021.

The leading vote-getter was pitcher Curt Schilling, who was named on 71.1% of the ballots, only 16 votes shy of the minimum required for selection. He was followed by home run king Barry Bonds (61.8%) and pitcher Roger Clemens (61.6%). All three were in their ninth year of eligibility, leaving them one more opportunity next winter. Players have 10 chances at enshrinement through the BBWAA voting process before moving on to consideration by one of the Hall of Fame’s era-based veteran committees.

Last year’s selectees will be honored in July after the pandemic forced the postponement of the 2020 ceremony. That group includes players Derek Jeter, Larry Walker and Ted Simmons, along with labor leader Marvin Miller.

No new members to HOF; Schilling asks off ballot

Via www.espn.com
 

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Boston Red Sox acquire relief pitcher Adam Ottavino in trade with NY Yankees

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The Boston Red Sox have acquired right-handed reliever Adam Ottavino from the New York Yankees. The Red Sox also will receive pitcher Frank German, a Yankees fourth-round pick from 2018, while taking on the majority of Ottavino’s remaining salary. In exchange, the Red Sox will send a player to be named later or cash to New York. Ottavino will make $8 million in 2021. He’s also due a $3 million signing bonus in 2022. 

The 35-year-old Ottavino had a down season in 2020, compiling a 5.89 ERA and 1.582 WHIP in 24 appearances. However, in the years prior, Ottavino established himself as one of the best late-inning relievers in baseball. He posted a 1.90 ERA in 2019, his first season in New York, and he logged a 2.43 ERA and 0.991 WHIP with the Colorado Rockies the previous season.

Yanks send Ottavino to Red Sox in rare deal for rivals

Via www.espn.com
Reliever Adam Ottavino is heading to Boston. It is the first trade between the AL East rivals…
 

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