New York Knicks fans are preparing for a potentially chaotic offseason. The Knicks enter the next few months armed with the second-most projected cap space, per Spotrac … Starting Thursday, the public can do some holiday shopping at the Tupelo Furniture Market. Dublin, Oct. 15, 2020 (GLOBE NEWSWIRE) — The “U.S. Private LTE & 5G Network Market Size, Share & Trends Analysis Report by Component (Hardware,… Shares in Big Hit, the company behind the K-pop phenomenon, opened at more than double the offering price, then jumped 30 percent in early trading before finishing down on the day. Shares in Big Hit Entertainment, the management agency behind K-pop sensation BTS, made a splash in their debut on Korea’s stock exchange Thursday, opening at twice the original offering price. Despite declines today, stocks look healthy according to the companies that rely on a healthy market.
Mark J. Terrill/Associated Press
New York Knicks fans are preparing for a potentially chaotic offseason.
The Knicks enter the next few months armed with the second-most projected cap space, per Spotrac. They also have the No. 8 pick in the 2020 NBA draft, though the latter is more disappointing given New York slipped in the lottery after finishing the season with the sixth-worst record.
The Knicks are also under entirely new leadership. Tom Thibodeau takes over as head coach, and new president of basketball operations Leon Rose will be under the microscope as he navigates a challenging offseason. What does seem clear is the Knicks looking for an upgrade at point guard.
Marc Berman of the New York Post reported LaMelo Ball is one of two players the Knicks “love” (the other being James Wiseman), but Ball is unlikely to be on the board by the time the New York is on the clock. Additionally, Jonathan Wasserman of Bleacher Report noted the Knicks might not have the assets to trade up to the first pick.
Thus, it might be tough for New York to get its desired point guard in the draft. But the Knicks might be active in the trade market.
Ian Begley of SNY.tv reported agents around the league believe the Knicks could “poke around on a potential Russell Westbrook trade” if the Houston Rockets attempt to deal the former MVP this offseason. Begley also noted Westbrook was open to New York as a landing spot when the Oklahoma City Thunder were discussing trades last summer.
The Knicks would have to find a way to make the money work. Westbrook is owed well over $40 million in each of the next two seasons, per Spotrac, with a $47 million player option for the 2022-23 season. The Knicks could absorb some salary but would probably prefer to offload so as to have space for the offseason. In any case, Westbrook would make for an interesting fit in New York.
Westbrook’s traditional statistics from this past season look pretty solid. He averaged 27.2 points, 7.9 rebounds and 7.0 assists while shooting a career-high 47.2 percent per game. The 31-year-old also excelled when the Rockets went to a small-ball look in February, routinely exploiting one-on-one matchups and driving lanes with ease.
But the advanced numbers tell a different story. Westbrook’s 1.8 value over replacement player (VORP) was the lowest since his rookie season, per Basketball Reference. He became a bit of a liability on the defensive end of the floor, and the playoff numbers were underwhelming.
There is another element to this: Westbrook’s status as a ball-dominant point guard who cannot shoot from the perimeter does not seem to complement R.J. Barrett very well.
Still, the Knicks seem to believe Westbrook could help turn things around in the Big Apple if the Rockets decide to move on from the star guard.
Knicks to Pursue Fred VanVleet
Mark J. Terrill/Associated Press
While Westbrook does not appear to be the best of fits in New York, Fred VanVleet seemingly has everything the Knicks need.
VanVleet had a career year with the Toronto Raptors this past season, averaging 17.6 points, 6.6 assists and 3.8 rebounds per game while also shooting 39 percent from beyond the arc on 6.9 attempts per game.
The former Wichita State star became one of Toronto’s playmakers on both ends, as VanVleet also averaged 1.9 steals and routinely drew some of the toughest backcourt assignments.
New York desperately needs more shooting, playmaking and defense. With VanVleet hitting the open market, he profiles as the ideal target.
Stefan Bondy of the New York Daily News reported the Knicks have interest in signing VanVleet if they fail to trade for a star point guard such as Chris Paul or Westbrook.
VanVleet not only has a desirable skill set but also figures to be far cheaper than the aforementioned star guards. Bondy reported insiders believe the 26-year-old will get a contract similar to that of Malcolm Brogdon with the Indiana Pacers (four years, $85 million) last summer.
That kind of value would likely appeal to the Knicks, especially if they can back-load the deal and preserve cap space for the next couple of seasons.
Magic Interested in Dennis Smith Jr.
Nell Redmond/Associated Press
In the event the Knicks do not trade up in the upcoming draft, they may try to trade back.
Berman reported the Knicks have staged “internal talks” about trading down to the Nos. 12-15 range in an effort to stock up on future assets.
The Orlando Magic have the 15th pick next month, and Berman reported the Magic have shown interest in acquiring Dennis Smith Jr., possibly creating an avenue for New York to trade back in an expanded deal.
Smith has floundered in the Big Apple after coming to the Knicks after part of the Kristaps Porzingis trade prior to the 2019 trade deadline. This past year was especially forgettable, as Smith averaged just 5.5 points on 34.1 percent shooting while also committing nearly four turnovers per 36 minutes and playing under 16 minutes per contest.
However, Begley reported last week Smith has “significant support” from members of the organization who would like to see the former N.C. State star get a chance to bounce back. Begley also noted Smith showed up for all of the voluntary workouts with Thibodeau and his staff.
That said, the backcourt could get crowded if New York drafts or signs another guard, and the Knicks might elect to move on from Smith if it is their best chance to move back and get future assets.
All stats obtained via Basketball Reference, unless otherwise noted.
Author: Martin Fenn
Tupelo Holiday Gift Market kicks off Thursday, runs through weekend
TUPELO, Miss. (WTVA) – Starting Thursday, the public can do some holiday shopping at the Tupelo Furniture Market.
At least 125 vendors from 12 states have set up their goods inside the Furniture Market’s Building No. 5.
For COVID-19 safety, workers widened aisles and placed barriers between vendors.
Workers are required to wear masks, and shoppers are also encouraged to wear masks.
Shoppers will have their temperatures checked as they enter the building.
Furniture Market CEO V.M. Cleveland said due to the lack of shows this year, vendors have been looking forward to attending Tupelo’s Holiday Gift Market.
“A lot of people have canceled due to COVID and it was an opportunity for us to work, and we are thankful for that,” Vendor Kathi Barber said.
Barber, who sells personalized gifts, drove from South Carolina to attend the show in Tupelo.
“This year, this will be our third [show]; normally there is about 12 in the season we can do and most have canceled,” Vendor Tara Ciul said.
Ciul monograms items, such as rain jackets and stockings.
Laurie Cantrell is a hemp farmer from Tennessee. She’s thrilled and said Tupelo is a great place to have a holiday market.
“When you look around at the vendors, the booths are full and the products that are here are really good quality products,” Cantrell said.
Doors to the market open Thursday at 10 a.m. and the market concludes Sunday.
Open this link to visit the Holiday Gift Market’s website.
Author: Posted By: Zac Carlisle
United States Private LTE & 5G Network Market Report 2020: Regulatory Scenario, Upcoming Trends in Various Spectrums, and Private 5G Network Providers
Dublin, Oct. 15, 2020 (GLOBE NEWSWIRE) — The “U.S. Private LTE & 5G Network Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Frequency, by Spectrum, by Vertical, and Segment Forecasts, 2020 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The U.S. private LTE & 5G network market size is anticipated to reach USD 5.68 billion by 2027, expanding at a CAGR of 17.0% from 2020 to 2027.
This report focuses on the private 5G use cases, the LTE and 5G industry’s regulatory scenario, upcoming trends in various spectrums, and private 5G network providers. Furthermore, the report provides in-depth analysis, market estimations, private network use cases, and potential customers on the key verticals such as manufacturing, automotive, electrical and electronics, food and beverages, pharmaceuticals, heavy machinery, clothing and accessories, energy and utilities, transportation and logistics, defense, public safety, enterprises and campus, public venues, mining, healthcare/hospitals, oil and gas, retail, agriculture, and smart cities.
The rising adoption of a private network for the Internet of Things (IoT) applications, industrial use cases, and the Industry 4.0 revolution are some of the critical factors responsible for the market growth in the U.S. The companies are moving towards Industry 4.0 by modernizing and automating industrial operations using modern and smart technologies. Some of these include the Industrial Internet of Things (IIoT), 5G, smart factory, and interoperability.
Industry 4.0 makes use of highly intelligent, automated, and collaborative cyber-physical systems that require robust wireless connections with low latencies. As a result, numerous organizations and factories from energy, logistics, automotive, mining, and power sectors adopt private 5G & LTE networks. Further, the deployment of plenty of Industrial IoT (IIoT) and other sensor-based applications in the manufacturing industry vertical is expected to boost the demand for private 5G network adoption over the forecast period.
The companies are extensively preferring the private networks over public networks on account of various benefits such as low latencies, ultra-high-speed, enhanced security, network reliability, and the ability to customize and upgrade the network effectively. The end-users already having legacy private network infrastructure at their premises can directly procure 5G software stacks from software vendors or system integrators and install them into their current servers. This helps clients completely transform their present network into the next generation private 5G network at reduced costs.
The new private 5G network installations and network infrastructure upgrades are the crucial factors that will drive the market over the forecast period. However, the ongoing impact of the COVID-19 pandemic and staggering 5G deployment is expected to hinder the overall market growth over a short period. Further, the small and medium companies in the low-income markets and outskirts areas of the U.S. cannot meet the massive capital investments required to build a reliable private connectivity infrastructure. Therefore, the lack of positive response from such firms is anticipated to hinder the market’s steady growth.
The market players gain competitive advantage by making large investments towards 5G deployment and acquiring new private 5G installations from various industries such as healthcare, logistics, manufacturing, and others. The network operators, including AT&T, T-Mobile, and Verizon, have influential positions in the LTE connectivity space in the U.S..
The primary network providers such as Ericsson and Nokia have already invested considerably towards the 5G and LTE technologies and infrastructure, thereby gaining a stronghold on the market for private LTE and 5G network.
U.S. Private LTE & 5G Network Market Report Highlights
- Amidst the COVID-19 pandemic, the healthcare industry is suffering from inadequate healthcare personnel to care for patients. As a result, the hospitals and healthcare facilities are upgrading to private LTE and 5G networks to enhance their telemedicine and remote patient monitoring abilities
- The private LTE and 5G networks are expected to improve the operating excellence in the industrial facilities by enabling the integration of IIoT in various devices and equipment
- The U.S. government has banned Huawei Technologies, Co, Ltd, a China-based 5G equipment provider, and system integrator, to deploy its 5G equipment across the country. As a result, the 5G companies and telecom operators face challenges in private 5G network deployment through partnerships and collaborations
- Customers are highly focused on implementing private 5G networks with ultra-low latency and fast data transfer speeds, thereby enabling smart factories that utilize Augmented Reality (AR), Artificial Intelligence (AI), and advanced robotics for operations
- The manufacturing segment has accounted for around 20% of the market revenue share in 2019, and it is anticipated to expand at a significant CAGR from 2020 to 2027. Numerous manufacturing companies are expected to move towards automation and adopt technologies such as the IIoT, robot assistance, and digital twins by installing private 5G networks
- The transportation and logistics segment is also anticipated to exhibit a high CAGR from 2020 to 2027 due to the significant increase in the number of warehouses in the U.S. and the surging adoption of autonomous robots in the warehousing facilities
Market Variables, Trends & Scope
The U.S. Private LTE and 5G Network Market – Value Chain Analysis
The U.S. Private LTE and 5G Network Market Dynamics
Market Driver Analysis
- Increased adoption of private LTE and 5G network for IoT applications
- Rising implementation of highly secured Private 5G network infrastructure across several enterprise and industrial use cases
Market Restraint Analysis
- Lack of adoption of Private 5G & LTE from Small and Medium Companies in the low-income markets
Market opportunity Analysis
- Private LTE & 5G network for long term growth of industry 4.0
The U.S. Private LTE and 5G Network Penetration & Growth Prospects Mapping
Covid-19 Impact Analysis
Key Use Case Analysis
- Automated Guided vehicles (AGV)
- Collaborative Robots/Cloud-Robots
- Industrial sensors and Heavy Machinery Automations
- Predictive Maintenance and Analytics
- Remote Patient Monitoring & Diagnosis
- Public Safety and Emergency Services
5G Current and Upcoming Spectrum Scenario
5G Regulations & Policies
- AT&T Inc.
- Broadcom Inc.
- Cisco Systems, Inc.
- HUAWEI TECHNOLOGIES CO., LTD.
- Nokia Corporation
- QUALCOMM INCORPORATED
- Samsung Electronics Co., Ltd.
- Telefonaktiebolaget LM Ericsson
- T-Systems International GmbH
- Verizon Communications
- Vodafone Group Plc
- ZTE Corporation
For more information about this report visit https://www.researchandmarkets.com/r/pkhjq
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Author: Research and Markets
BTS Management’s Stock Has a Lively First Day of Trading
Business|BTS Management’s Stock Has a Lively First Day of Trading
Shares in Big Hit, the company behind the K-pop phenomenon, opened at more than double the offering price, then jumped 30 percent in early trading before finishing down on the day.
Shares in Big Hit, the management company behind the Korean boy band BTS, skyrocketed on their first day of trading in South Korea on Thursday, as investors rushed to get a piece of one of the world’s biggest musical acts.
The stock opened at 270,000 won, or about $235, double the company’s offering price of 135,000 won, and was up 30 percent, the daily limit, in early trading. By day’s end, the stock was down over 4 percent from its opening price, with the company’s value settling at around 8.7 trillion won, or about $7.6 billion, by the market’s close.
The initial public offering by Big Hit, which derives almost 90 percent of its revenue from BTS, was the most anticipated South Korean debut in years, with hundreds of pre-orders for every share on offer.
Enthusiasm for the company is driven by the global success of BTS, which has become the biggest boy group since the Beatles thanks to the dedication of its tens of millions of fans, known as the Army.
The highly organized fans have used social media to help their idols climb to the upper heights of the music industry, smashing viewing records on YouTube and keeping the group’s singles at the top of music streaming rankings.
The seven-member band has ruled the pop charts in recent weeks, with two No. 1 songs on the Billboard Hot 100. An online concert over the weekend sold about one million tickets at prices starting at $45, stoking the already white-hot enthusiasm for Thursday’s listing.
Big Hit has been a particularly appealing target for South Korean retail investors who are desperate for big returns, as an economy hurt by the coronavirus pandemic has left few profitable places for people to put their money.
The combination of well-timed industry success and latent investor demand created ripe conditions ahead of Big Hit’s debut, making its founder, the longtime music producer Bang Si-hyuk, one of South Korea’s wealthiest individuals, with paper wealth of more than $3 billion on Thursday evening.
It has also enriched the BTS members themselves. Mr. Bang granted them more than 478,000 of his shares in an effort to strengthen relations with his primary moneymakers.
In the short term, expectations for Big Hit are likely to remain high, as fans and investors alike await the release of BTS’s new album, “BE,” in late November, and sales of merchandise and digital content continue to climb.
But while BTS is Big Hit’s greatest asset, it is also its Achilles’ heel. It remains to be seen just how long the group, whose oldest member is 27, can maintain its star power. One potential threat comes from South Korea’s mandatory 18-month military service for men. The first of the group’s members to report for duty must do so by the end of next year.
Some investors wonder whether Big Hit would be able to thrive without its marquee artists.
The company has sought to reduce that risk not only by expanding its stable of artists, but also by investing in digital content and services — such as its social media platform, WeVerse — that have allowed it to expand beyond music management.
The investment has already paid off. Even though the coronavirus forced BTS to cancel its sold-out world tour, Big Hit’s 2020 revenue has increased dramatically thanks to growing sales of digital content.
Author: Ben Dooley
Shares of BTS record label Big Hit soar on first day of trading
SEOUL, Oct. 15 (UPI) — Shares of Big Hit Entertainment, the management agency behind K-pop sensation BTS, made a splash in their debut on Korea’s stock exchange Thursday, opening at twice the original offering price and bringing a windfall to the label’s founder and its biggest stars.
Big Hit ended its first day of trading valued at nearly $7.6 billion, creating massive wealth for its founder and co-CEO, Bang Si-Hyuk, who owns more than 36% of the shares. Bang’s stake is now worth some $2.7 billion, vaulting the 48-year-old into the ranks of South Korea’s richest individuals.
BTS is a global sensation whose success helped Big Hit’s revenues nearly double last year to $512 million. In September, they became the first Korean act to debut on Billboard’s Hot 100 chart with their English-language single “Dynamite.”
The boy band has continued its record-setting ways, currently sitting in the top two spots of the Hot 100, with their remix of Jason Derulo and Jawsh 685’s “Savage Love” at No. 1 and “Dynamite” at No. 2.
Over the weekend, the K-pop stars held a two-day pay-per-view concert, “Map Of The Soul ON:E,” which drew nearly 1 million viewers worldwide, according to Big Hit. Ticket prices ranged from roughly $45 to $80. A previous concert held in June drew over 750,000 paying fans.
The Big Hit IPO was South Korea’s largest since 2017, raising $841 million earlier this month and continuing a string of successful IPOs recently launched in the country, including offerings from SK Biopharmaceuticals, an affiliate of South Korea’s massive SK Group conglomerate, and video game maker Kakao Games.
One factor that could impact the band’s future is South Korea’s mandatory military service, which requires all able-bodied men to serve for nearly two years between the ages of 18 and 28. Defense minister Suh Wook said earlier this month that an exemption will not be possible for BTS, whose oldest member, Jin, is 27.
However, South Korea’s military recruitment agency told parliament this week that it is working on a proposal to defer enlistment for global pop culture stars who enhance South Korea’s reputation.
BTS also finds itself at the center of a controversy in China, after Chinese state media condemned the boy band over comments its leader RM made in reference to the shared suffering of the United States and South Korea during the 1950-53 Korean War.
State-run Global Times claimed in an article published earlier this week that BTS “hurt the feelings” of the public by not mentioning China’s own sacrifice in the conflict, sparking a backlash and boycott calls.
Big Hit Entertainment’s Bang Si-hyuk said the company would find “growth potential” moving forward during a listing ceremony that was livestreamed on YouTube.
“We will uphold the stockholder’s value in various terms by raising profitability, growth potential and contributions to society,” Bang said, according to news agency Yonhap. “We will spur efforts to become the world’s best entertainment and lifestyle company.”
The Stock Market Is Strong — Just Look at Morgan Stanley and Schwab
2020 has been a tough year for investors to figure out. Just when things looked great, the COVID-19 pandemic came out of nowhere to crush the global economy. Then, when things seemed as dire as could be, markets rebounded just as sharply. Thursday’s stock market moves showed the resiliency that investors have, as an early plunge gave way to a steady recovery throughout much of the session. By late afternoon, the Dow Jones Industrials (DJINDICES:^DJI) and the S&P 500 (SNPINDEX:^GSPC) had largely regained their lost ground, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished well off its lows.
Data source: Yahoo! Finance.
Today’s moves by the major benchmarks suggest that people are concerned with the health of the market. But when you look at the latest results from financial giants Morgan Stanley (NYSE:MS) and Charles Schwab (NYSE:SCHW), you get a much different picture. Let’s take a closer look.
Shares of Morgan Stanley finished higher by more than 1% on Thursday. The banking giant reported its third-quarter results, and investors were generally pleased with what they saw.
Image source: Getty Images.
Morgan Stanley saw significant growth in key financial metrics. Net revenue climbed 16% to $11.7 billion, while net income was higher by 25% compared to year-earlier levels. The company saw revenue gains across the board, with the biggest rise coming from its investment management unit. However, institutional securities and wealth management also performed well for Morgan Stanley.
In particular, Morgan Stanley pointed to solid gains in equity sales and trading revenue, along with a busier slate of investment banking business. Assets under management for both the wealth management and investment management arms were significantly higher as well.
Judging from the numbers, Morgan Stanley is benefiting from healthy financial markets. With many investors more confused than ever, the market for professional investment advice is hot right now, and Morgan Stanley appears to be cashing in.
Elsewhere in the financial industry, Charles Schwab saw its stock rise more than 5%. The discount brokerage pioneer reported third-quarter earnings that gave investors a positive surprise.
At first glance, Schwab’s numbers didn’t look anywhere near as good as Morgan Stanley’s. Year-over-year revenue was down 10% for the quarter, and net income took a 22% hit on an adjusted basis. Yet both numbers were better than most investors had expected.
More importantly, Schwab investors seem to have confidence in the staying power of the stock market. Net new assets amounted to $42.7 billion during the third quarter, including a record $20 billion in new assets in September. The fact that ordinary investors put money into the market during what was a very volatile month shows unusual amounts of confidence.
Schwab now has $4.4 trillion in client assets, up 17% year over year. Coming on the heels of the fastest bear market in history, that’s a testament to the resiliency of the U.S. stock market and the investors who call it home. That’s no guarantee the stock market won’t suffer more setbacks in the future, but it’s good to see ordinary investors learn to avoid some of the tricks that have taken away potential gains from them in the past.
Author: Dan Caplinger