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Movie theater stocks rally as drugmakers say vaccine is 90% effective

first_imgTo stay afloat, cinema chains have been renegotiating deals with lenders and landlords and developing creative ways to generate revenue.Most major cinemas are now offering up cheaper private theater rentals as a way to entice in reluctant moviegoers. Others have transformed parking lots into concert venues, launched trivia nights and even negotiated deals with local colleges to rent out the space for in-person learning. Noam Galai | Getty Images Entertainment | Getty Images Movie theater chains got some good news on Monday morning — trial data indicated Pfizer and BioNTech’s Covid-19 vaccine is more than 90% effective.- Advertisement – The news sent AMC shares soaring as high as 80% in premarket trading before settling around a 50% gain after the opening bell. Cinemark shares were trading up about 52%, while Marcus Theatres and IMAX were gaining about 18% in early morning trading.The coronavirus pandemic has battered theaters since March, crunching their bottom lines and threatening to push chains big and small towards bankruptcy. As of the close on Friday, Cinemark shares were down 74%, AMC was down 66% and Marcus was down 75%.Last week, these movie theater chains reported third-quarter results, signaling yet another period of losses.- Advertisement –center_img With movie theaters hauling in less than a quarter of the revenue they were generating last year, AMC and B&B Theatres, the sixth-largest cinema chain, have both warned of the possibility of bankruptcy. Studio Movie Grill, a Dallas-based dine-in theater chain, filed for Chapter 11 bankruptcy protection last month.The hope is that with a vaccine, Covid-19 cases will decrease substantially and audiences will be more willing to return to theaters. This, in turn, will give studios confidence to keep major film titles on the calendar. Without fresh content, moviegoers won’t return in droves.Still, a vaccine might not be widely available to the public until mid-2021. So, while the news is promising, it does not fix the near term issues that movie theaters are facing.- Advertisement – – Advertisement –last_img read more


CMA CGM Christens New Ship for French West Indies

first_imgFrench container shipping company CMA CGM has christened CMA CGM Fort De France, the company’s 1st vessel dedicated to the French West Indies.The Post-Panamax containership was christened by Annick Girardin, French Minister for Overseas Territories, in Martinique on April 4, 2019.CMA CGM Fort De France is a 3,504-TEU vessel that was delivered to the company by China’s shipbuilder COSCO Zhoushan in January 2019.Featuring a length of 219 meters and a width of 35.6 meters, the newbuild is the first of a series of four containerships named after French West Indian forts and flying the French flag. With the ship quartet, CMA CGM intends to modernize its fleet dedicated to this region.The newbuild will be followed in the coming months by CMA CGM Fort Royal, CMA CGM Fort Saint Charles and CMA CGM Fort Fleur D’epee. In the French West Indies, the group operates 7 maritime services connecting these islands to Northern Europe, the Mediterranean, the Caribbean, and Central and South America.In order to support the acceleration of Martinique’s economic and maritime development, the CMA CGM Group has invested more than EUR 12 million there over the past ten years.Over the past several years, the Port of Martinique has been carrying out works aimed at increasing its capacity. Following the delivery in June 2017 of 2.5 hectares of reclaimed land on the Pointe des Grives terminal, additional operations will begin over the first half of 2019 to lengthen the terminal quay and to develop 2.5 further hectares of reclaimed land. The port has also decided to order a fourth gantry crane.According to the company, these works will ultimately allow the port to accommodate larger vessels and to handle more containerships simultaneously, thereby reducing turnaround times and improving rotations.The CMA CGM Group will thus offer new services to the Mediterranean, South America and the Gulf of Mexico, with vessels of up to 6,900 TEUs.What is more, CMA CGM wants to build on the strengths of Guadeloupe and Martinique to create a hub in the Lesser Antilles. The group has recently concluded with the Port of Guadeloupe and Martinique new temporary occupation licenses for a period of 15 years.By reinforcing the complementarity between the two islands, CMA CGM plans to develop transshipment traffic, in order to better integrate these territories into their regional environment. It will thereby provide local businesses with new opportunities and new supply sources.Video Courtesy: CMA CGMlast_img read more


Sherwood ready for Townsend return

first_img The matches came thick and fast over the festive period, but the niggling strain would not go away. The 22-year-old has been passed fit for Sunday’s game at Swansea though after he came through a 45-minute run-out in the Under-21s on Tuesday. Townsend scored one goal and set up two more in a 4-1 win over Newcastle, and Sherwood was happy with the wide man’s contribution. “Andros had a quiet one on Tuesday,” Sherwood said with an ironic grin. “We all know what he can do. He gives us a different dimension. “He had a flying start to the season and we are happy to have him back in the squad.” Sherwood has had to deploy Christian Eriksen on the left wing in recent weeks because the natural replacements for Townsend – Erik Lamela and Gylfi Sigurdsson – have been struggling with injury. Townsend’s return should therefore give Spurs the natural width in midfield which is key to Sherwood’s attacking philosophy. Injury has decimated the Tottenham squad in recent weeks. As many as 10 first-team players have been out at one time during the festive period. Of all the injuries suffered, the most key have been to Jan Vertonghen and Younes Kaboul. The absence of the tall, quick and powerful centre-backs has meant that Michael Dawson and Vlad Chiriches have started the last six games at centre-back. At first sight the two might not seem a natural pairing, but they have formed a decent partnership, conceding six goals. “We picked up a lot of injuries in the centre-back position, which was a problem for us but Chiriches and Dawson have been fantastic over that Christmas period,” Sherwood said. “We’ve managed to get positive results with basically just those two to choose from.” In reality Sherwood has Hugo Lloris to thank for the team’s decent defensive record of late. The Frenchman started to lose form towards the end of Andre Villas-Boas’ reign, but he has been back to his best. Lloris’ saves have helped Tottenham move to within two points of the top four, but the goalkeeper knows there is still much work to do if the north London club are to qualify for the Champions League. “Our hopes for the season are still alive because we’re getting points and we are closer to the top four, so we are still in a good way,” Lloris told Spurs TV. “But we have to be careful and if we want to finish where we want to be, we have to do more.” Swansea’s own injury problems mean they have dropped down the table of late, with Michael Laudrup’s men without a win in their last seven. Swansea’s home record is the joint-worst in the division, but Lloris has told his team-mates they cannot afford to underestimate the opposition. He said: “It’s always difficult to play against Swansea and we know they’re capable of getting some good results against big teams. “They play some really good football and if we are not focussed on the game and if we don’t play at 100 per cent, it will be very difficult.” Press Association Sherwood kept a watchful eye over Townsend’s impressive development during his time with the youth squads, but the Spurs boss has been unable to call upon the winger since he was named head coach. Townsend suffered a hamstring injury following Sherwood’s first game as interim boss – the Capital One Cup defeat to West Ham – and he has found the comeback trail hard to negotiate. Tottenham manager Tim Sherwood cannot wait to unleash Andros Townsend on terrified defenders once again.last_img read more


Nigeria’s Dream of Wrestling Medals in Tatters

first_imgOborodudu, Adekuoroye fail to reach semi finalsDuro Ikhazuagbe in RioTeam Nigeria’s dream of winning medals in the wrestling events of the ongoing 2016 Olympic Games here in Rio de Janeiro has continued to varnish as two of the country’s prospects, Blessing Oborodudu and Oduanyo Adekuoroye crashed out of their respective categories yesterday afternoon in the quarter-final matches at Carioca Arena.Oborududu who is the captain of the Nigerian wrestling team lost 3-1 to Mongolia’s Battsetseg Soronzonbold in the 63 kg class while Adekuoroye on the other hand got beaten 5-0 flat by Mattsson Sofia Magdalena of Sweden in the 53kg class. Earlier, on Wednesday afternoon, three other Nigerian wrestlers – Mercy Genesis, Hannah Reuben and Aminat Adeniyi – were all eliminated from the preliminary rounds of the women’s wrestling events.Genesis fell 5-0 to Poland’s Iwona Matkowska in women’s freestyle 48kg, Reuben lost 4-1 to Canadian wrestler, Dorothy Yeats in the women’s freestyle 69kg, while Adeniyi also lost 3-1 to Finland’s Petra Olli in the women’s freestyle 58kg.All the five wrestlers were among the six medal hopefuls in the squad led by former Olympic gold medalist, Daniel Igali.Until last week, these wrestlers had no sparring partners to train with as those earlier listed to accompany them here were dropped as cost saving measure by the Federal Ministry of Youth and Sports officials.Igali who doubles as both president of the federation and technical director had to resort to helping to do sparring rounds with the wrestlers until competition started.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more


Bo Ryan silences doubters yet again

first_imgSophomore Jordan Taylor recently earned a starting nod in the absence of forward Jon Leuer\’s against NU and OSU.[/media-credit]With the departure of forwards Marcus Landry and Joe Krabbenhoft, the “experts” did not exactly see big things for the Wisconsin men’s basketball team in 2009-10. In fact, though the Big Ten releases only the top three teams in its annual preseason polls, it was reported the media voted the Badgers ninth out of 11 teams in the conference.Well, not only has head coach Bo Ryan’s program proved everyone wrong, they’ve earned the right to be considered a major player in the national basketball landscape.With wins over two top-ten teams for the first time since 2006-07 (when they earned a No. 1 national ranking) the Badgers have moved up to the top 15 in the most recent polls.Ryan and Wisconsin began the season inauspiciously with a pair of wins over Summit League opponents in IPFW, and Oakland. However, it was a trip to paradise during Thanksgiving week that seemed to jumpstart the Badgers.UW went 2-1 in the Maui Invitational, but more importantly, the young Badgers defeated then-No. 21 Maryland. Immediately following that trip, Wisconsin shifted its focus to another ACC opponent in then-No. 6 Duke for the most anticipated game of the season at the Kohl Center.To the delight of Badger fans, the game didn’t disappoint, as Wisconsin never trailed en route to a 73-69 victory that prompted students to rush the court and hoist forward Jon Leuer on their shoulders.The Badgers went 1-1 over their next two games — including a disappointing overtime loss at UW-Green Bay — before reeling off five straight home wins.Once the calendar turned to 2010, however, Wisconsin had to go back on the road, and this time it was to a handful of Big Ten arenas.At Penn State, the Badgers easily handled guard Talor Battle and the Nittany Lions, but in East Lansing on Jan. 6, Michigan State outlasted Wisconsin in an ugly grind-it-out Big Ten battle. UW bounced back in a big way three days later.Hosting then-No. 4 Purdue, the Badgers outplayed the Boilermakers thanks in large part to the guard play of seniors Jason Bohannon and Trevon Hughes and sophomore sixth man Jordan Taylor, who combined for 57 of UW’s 73 points.simply Through the first two games without an injured Leuer, UW has shown one thing: it will win or lose by its guard play in the absence of the 6-foot-10 forward.In Evanston, strong performances by Bohannon, Hughes and Taylor led the Badgers past the Wildcats in a big 10-point road win. When Wisconsin went to Ohio State, however, the guards — especially Taylor — struggled to score, which led to a nine-point loss in Columbus.With Leuer out of the lineup indefinitely, the Badgers will simply need to tread water over the next two to six weekd..If they can, the 2009-10 version of the Wisconsin men’s basketball team could be one of the best in recent history.last_img read more


Dustin Johnson Looks to Retain Title at Erin Hills

first_imgWorld number one and defending champion Dustin Johnson heads the field in Wisconsin, where knee-high rough has dominated the pre-tournament debate.The first tee shot was fired at 12:45 BST thursday.American defending champion Johnson missed the Masters in April after slipping on steps and hurting his back on the eve of the tournament.Fit again, the big-hitting 32-year-old is bidding to become the first player to win back-to-back US Opens since Curtis Strange in 1988 and 1989.Johnson had said he would not travel to Erin Hills until the birth of his second child with his expectant partner Paulina Gretzky.But after arriving in Wisconsin on Tuesday evening following the birth of his son, the world number one says he is ready for the course’s challenge.“I like really tough golf courses,” said Johnson, who won by three shots at Oakmont last year.“I tend to focus more and play better. It’s just a very, very difficult tournament to win.”Johnson will be grouped with previous US Open winners Jordan Spieth and Martin Kaymer in Thursday’s opening round.Spieth beat fellow American Johnson to the title in 2015 and was in contention until the final round last year.“It’s always a physical test,” said the world number five. “It’s a big golf course. It’s a tough one to walk.”The 23-year-old Texan has failed to add to his major tally since 2015, when he also won the Masters, and has just one PGA Tour victory to his name this season.But he is one of the few players in this week’s field to have competitive experience of Erin Hills, having played at the venue in the 2011 US Amateur Championship.“Most of all it certainly tests the mental game more than any other place in golf,” added Spieth. “And I’ve witnessed that on both sides of things.“If you came for a stress-free tournament you didn’t come to the right place. And we know that going in.”World number two Rory McIlroy has insisted he is “totally fine” and ready to challenge this week as he returns to action after a month out because of injury.The Northern Irishman believes the Erin Hills course is one he can thrive on.“I don’t think it’s a secret that I feel like my driver is one of the biggest weapons in my bag,” he said.“If I can get that in my hands more regularly, and I think if the field has to hit driver more, that plays into my hands too.”Spaniard Sergio Garcia heads into the tournament on the back of his first major win, claiming the Green Jacket at Augusta in April.The 37-year-old world number seven hopes to draw on his Masters win in the season’s second major.“Every tournament is tough to win and majors are even tougher,” he said. “And a US Open, we all know how difficult they are.”In the modern era, only two players have won multiple majors after claiming their first aged 37 or older, with Angel Cabrera winning his first of two at that age and Mark O’Meara winning twice in 1998 aged 41.“I still feel in good shape and my game feels nice. I’m still working hard on it,” added Garcia.Debate around the cut of the rough at Erin Hills has divided opinion among those set to play the longest course in major history this weekend.The striking aspect of this venue is the distance – the par-five 18th can stretch to 675 yards – but the United States Golf Association (USGA) has faced questions over knee-high grass that lurks a few feet off the fairways.Fescue was cut from holes four, 12, 14 and 18 on Tuesday as organisers believed wet weather made the areas unplayable – especially with more rain forecast for the tournament days.Many holes feature blind or semi-blind tee-shots, while the course’s mid-section runs on an outward-inward path that will ensure players face variable winds.Spain’s Jon Rahm said the US Open venue was “like a links golf course on steroids”.“But I think it’s US Open, they expect our best,” added the 22-year-old.England’s Lee Westwood posted a video of his caddie crawling through the rough, while American Kevin Na was more scathing of the set-up.But McIlroy and Spieth both dismissed claims there was anything wrong with the lie.The Northern Irishman said: “If we can’t hit within that avenue, you might as well pack your bags and go home.”Five-time major winner Phil Mickelson said earlier this month he was likely to miss the tournament to attend daughter Amanda’s high school graduation in California yesterday.Mickelson retains a tee-time, but unless the weather conspires in the 46-year-old’s favour he will not return in time for the first round.Amanda was born a day after the championship in 1999 when Mickelson finished second to Payne Stewart, with the US Open the only major still to elude the American.With Tiger Woods also absent, this year’s US Open could be the first time since 1994 that neither player has featured in the first round.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram US OPEN 2017Billed as one of golf’s toughest tests, the 2017 US Open looks set to push the world’s best to their limits as Erin Hills prepares for its first major.At nearly 8,000 yards, the 11-year-old links-style layout will be the longest course in the championship’s history.last_img read more