ReportWire

Tag: spot

  • Barry Manilow reveals lung cancer diagnosis, reschedules shows for surgery

    [ad_1]

    Barry Manilow has revealed that he has been diagnosed with lung cancer. The singer shared a statement on Instagram revealing his diagnosis and that he needs to reschedule his January shows in order to have surgery to remove a spot. Manilow shared that doctors found the spot after a doctor ordered an MRI over his case of bronchitis. “As many of you know, I recently went through six weeks of bronchitis followed by a relapse of another five weeks. Even though I was over the bronchitis and back on stage at the Westgate Las Vegas, my wonderful doctor ordered an MRI just to make sure that everything was OK,” Manilow said in his statement. “The MRI discovered a cancerous spot on my left lung that needs to be removed. It’s pure luck (and a great doctor) that it was found so early. That’s the good news.” “The doctors do not believe it has spread, and I’m taking tests to confirm their diagnosis. So, that’s it. No chemo. No radiation. Just chicken soup and I Love Lucy reruns,” Manilow continued.Manilow shared that while his January shows will be rescheduled, he plans to be back performing in February in Las Vegas. He ended his message encouraging everyone to get tested if they ever feel like something is wrong.

    Barry Manilow has revealed that he has been diagnosed with lung cancer.

    The singer shared a statement on Instagram revealing his diagnosis and that he needs to reschedule his January shows in order to have surgery to remove a spot.

    Manilow shared that doctors found the spot after a doctor ordered an MRI over his case of bronchitis.

    “As many of you know, I recently went through six weeks of bronchitis followed by a relapse of another five weeks. Even though I was over the bronchitis and back on stage at the Westgate Las Vegas, my wonderful doctor ordered an MRI just to make sure that everything was OK,” Manilow said in his statement. “The MRI discovered a cancerous spot on my left lung that needs to be removed. It’s pure luck (and a great doctor) that it was found so early. That’s the good news.”

    “The doctors do not believe it has spread, and I’m taking tests to confirm their diagnosis. So, that’s it. No chemo. No radiation. Just chicken soup and I Love Lucy reruns,” Manilow continued.

    Manilow shared that while his January shows will be rescheduled, he plans to be back performing in February in Las Vegas.

    He ended his message encouraging everyone to get tested if they ever feel like something is wrong.

    [ad_2]

    Source link

  • Obiri sets women’s NYC Marathon course record, Kipruto wins men’s race in photo finish

    [ad_1]

    Hellen Obiri of Kenya set a women’s course record to win the New York City Marathon on Sunday while compatriot Benson Kipruto won the men’s race by edging Alexander Mutiso in a photo finish.Obiri, who also won the race in 2023, finished in 2 hours, 19 minutes and 51 seconds. Obiri was running with 2022 winner Sharon Lokedi until she pulled away from her countrymate in the final mile, surging ahead and winning easily, besting the previous course record of 2:22.31 set by Margaret Okayo in 2003.Defending champion Sheila Chepkirui finished third. All three beat the previous course best.Kipruto and Mutiso separated themselves from the chase pack in the men’s race heading into Mile 24. Kipruto seemed to have put the race away, pulling away from Mutiso in the last 200 meters. But Mutiso, who also is from Kenyan, wasn’t done, surging in the last 50 meters before just falling short. Kipruto finished in 2:08.09. Mutiso was a hair behind, finishing with the same time.Kenyan Albert Korir, who won in 2021, was third, giving Kenya a sweep of the top three spots in both the men’s and women’s races. Joel Reichow was the top American, coming in sixth.Eliud Kipchoge, who turns 41 next week, wrapped up a historic run as one of the most accomplished marathoners in the sport. He ran the New York City Marathon for the first time and finished 17th.On the women’s side, the trio of former champions separated themselves heading into the Bronx at Mile 20. American Fiona O’Keeffe and Dutch runner Sifan Hassan had made it a pack of five once the group entered Manhattan a few miles earlier but couldn’t hang on for the final six miles.This was the first time that the previous three women’s winners had been in the same race since 2018. The trio didn’t disappoint, putting forth stellar efforts. It was the second straight year that Kenyans took the top three spots.O’Keeffe finished fourth, with fellow American Annie Frisbie finishing fifth. Hassan, who won the Sydney Marathon two months ago, was next. Four of the top nine finishers were Americans.The 26.2-mile course took runners through all five boroughs of New York, starting in Staten Island and ending in Manhattan’s Central Park. This is the 49th year the race has been in all five boroughs. Before that, the route was completely in Central Park. The first race had only 55 finishers while a record 55,642 people finished last year, the largest in the history of the sport until the London Marathon broke it earlier this year.The weather was great to run in, with temperatures in the 50s Fahrenheit when the race started.

    Hellen Obiri of Kenya set a women’s course record to win the New York City Marathon on Sunday while compatriot Benson Kipruto won the men’s race by edging Alexander Mutiso in a photo finish.

    Obiri, who also won the race in 2023, finished in 2 hours, 19 minutes and 51 seconds. Obiri was running with 2022 winner Sharon Lokedi until she pulled away from her countrymate in the final mile, surging ahead and winning easily, besting the previous course record of 2:22.31 set by Margaret Okayo in 2003.

    Defending champion Sheila Chepkirui finished third. All three beat the previous course best.

    Kipruto and Mutiso separated themselves from the chase pack in the men’s race heading into Mile 24. Kipruto seemed to have put the race away, pulling away from Mutiso in the last 200 meters. But Mutiso, who also is from Kenyan, wasn’t done, surging in the last 50 meters before just falling short. Kipruto finished in 2:08.09. Mutiso was a hair behind, finishing with the same time.

    Kenyan Albert Korir, who won in 2021, was third, giving Kenya a sweep of the top three spots in both the men’s and women’s races. Joel Reichow was the top American, coming in sixth.

    Eliud Kipchoge, who turns 41 next week, wrapped up a historic run as one of the most accomplished marathoners in the sport. He ran the New York City Marathon for the first time and finished 17th.

    On the women’s side, the trio of former champions separated themselves heading into the Bronx at Mile 20. American Fiona O’Keeffe and Dutch runner Sifan Hassan had made it a pack of five once the group entered Manhattan a few miles earlier but couldn’t hang on for the final six miles.

    This was the first time that the previous three women’s winners had been in the same race since 2018. The trio didn’t disappoint, putting forth stellar efforts. It was the second straight year that Kenyans took the top three spots.

    O’Keeffe finished fourth, with fellow American Annie Frisbie finishing fifth. Hassan, who won the Sydney Marathon two months ago, was next. Four of the top nine finishers were Americans.

    The 26.2-mile course took runners through all five boroughs of New York, starting in Staten Island and ending in Manhattan’s Central Park. This is the 49th year the race has been in all five boroughs. Before that, the route was completely in Central Park. The first race had only 55 finishers while a record 55,642 people finished last year, the largest in the history of the sport until the London Marathon broke it earlier this year.

    The weather was great to run in, with temperatures in the 50s Fahrenheit when the race started.

    [ad_2]

    Source link

  • Prime Day deal: Amazon’s Echo Spot alarm clock drops to only $45

    [ad_1]

    If you’re looking to replace your old alarm clock with an Alexa-powered modern smart alternative then, well, you’re more overwhelmed with options than ever. But a $35 saving on last year’s updated Echo Spot might make your decision a bit easier.

    The latest incarnation of the diminutive Spot was introduced in July 2024, and this matches its record-low price. For that you get a comfortably bedside-sized device with a sharper display than its predecessor, as well as superior sound. The front face is divided into two halves, with a speaker positioned below the hemispherical display.

    Amazon

    This is the lowest price we’ve seen for the Echo Spot.

    $45 at Amazon

    What screen you do have is more than enough to display the time and weather information, plus it can show you the song or album title and accompanying artwork when you’re listening to music on those improved speakers. It can naturally be used to boss around your other connected smart devices, too.

    Alexa might be baked in, but the Echo Spot is intended to be a fairly bare-bones smart alarm clock, so don’t expect as many features as you’ll find on something like the Echo Show 5. But a lot of people just want a modern alarm clock, and arguably the biggest selling point for the Echo Spot is its total lack of a camera. While that means it can do less than the original 2017 Echo Spot, which Amazon did put a camera in, the decision to remove it from a device that lives right next to your bed was probably for the best.

    Amazon’s Prime Day sale returns on October 7, so you can expect a range of deals on its various Echo devices. For our guide to all of the best early deals, head here.

    [ad_2]

    Matt Tate

    Source link

  • Jump Financial LLC Sells 20,644 Shares of Spotify Technology $SPOT

    [ad_1]

    Jump Financial LLC reduced its holdings in Spotify Technology (NYSE:SPOTFree Report) by 95.0% during the first quarter, Holdings Channel.com reports. The fund owned 1,076 shares of the company’s stock after selling 20,644 shares during the quarter. Jump Financial LLC’s holdings in Spotify Technology were worth $592,000 at the end of the most recent reporting period.

    Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in Spotify Technology by 36.3% in the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company’s stock worth $391,000 after acquiring an additional 189 shares during the last quarter. GAMMA Investing LLC raised its position in Spotify Technology by 38.1% during the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company’s stock valued at $718,000 after purchasing an additional 360 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Spotify Technology by 16.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company’s stock valued at $4,699,000 after purchasing an additional 1,179 shares in the last quarter. Fifth Third Bancorp raised its position in Spotify Technology by 30.7% during the first quarter. Fifth Third Bancorp now owns 302 shares of the company’s stock valued at $166,000 after purchasing an additional 71 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Spotify Technology by 238.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company’s stock valued at $13,993,000 after purchasing an additional 17,932 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

    Analyst Upgrades and Downgrades

    A number of research firms have weighed in on SPOT. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target on the stock in a research report on Wednesday, July 30th. Guggenheim raised their price target on Spotify Technology from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 4th. Rosenblatt Securities lowered their price target on Spotify Technology from $703.00 to $679.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Finally, Bank of America raised their price target on Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Twenty analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $720.07.

    Get Our Latest Analysis on SPOT

    Spotify Technology Trading Down 0.7%

    SPOT opened at $683.19 on Monday. The company has a market cap of $139.85 billion, a P/E ratio of 165.82, a P/E/G ratio of 2.93 and a beta of 1.71. The business’s 50-day moving average price is $701.49 and its 200-day moving average price is $643.74. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00.

    Spotify Technology (NYSE:SPOTGet Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

    About Spotify Technology

    (Free Report)

    Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

    See Also

    Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOTFree Report).

    Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)



    Receive News & Ratings for Spotify Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Spotify Technology and related companies with MarketBeat.com’s FREE daily email newsletter.

    [ad_2]

    ABMN Staff

    Source link

  • One of the world’s tallest trees is burning. Why can’t firefighters put it out?

    [ad_1]

    When flames were spotted within one of the world’s tallest trees, firefighters flooded the area.

    Drones, aircraft and hand crews worked for days to tame the fire, successfully stopping it from spreading across the dense forest that surrounds the famous Doerner Fir tree in Oregon’s Coast Range mountains.

    But the towering Coast Douglas-fir has remained stubbornly alight.

    And firefighters — at least at the moment — seem stumped.

    “There’s still this spot where water is just not quite reaching yet,” said Megan Harper, a spokesperson for the Bureau of Land Management in Oregon. “Partway down the tree there’s an area that’s burning a cavity into the side. … That is the area that is now still hot.”

    Smoke rises from a burned segment of the Doerner Fir.

    (Bureau of Land Management)

    The bizarre single-tree fire has now become an almost weeklong firefight in Coos County, Ore., as the hot spot continues to burn approximately 280 feet up on the side of the arboreal giant.

    “We have different conversations [going on] in the background with arborist experts, who may be able to help get the rest of the fire out,” Harper said. “How do you get water into a hot spot from the side?”

    She said crews are stationed around the tree and will remain so until the fire is out. The fire initially broke out Saturday around 2 p.m.

    “We’ve been able to use helicopters with buckets … that’s been very successful getting the top of the tree,” she said. The still-smoking side cavity has proven more difficult.

    Harper said the blaze’s initial charge felled an estimated 50-foot chunk from the top of the tree, which consistently had ranked among the world’s tallest. Before the fire, it was often listed as the second-tallest tree in the U.S., trailing only Hyperion, a gargantuan 380-foot Coast redwood located in Redwood National and State Parks.

    “Prefire [Doerner] was 325 feet tall and about 11.5 feet in diameter, so it’s a large, tall tree,” Harper said. “We’re not sure exactly how much height is lost.”

    Depending what happens in the next few days, “more height could be lost,“ she said.

    Harper said the cause of the fire remains under investigation. Initially, officials thought lightning was a likely culprit, but weather data have ruled that out, Harper said.

    “I think everyone would be super disheartened to learn that maybe it would be human-caused,” Harper said, confirming that there is a remote trail that provides hikers access to the tree. But she said their team is not making any assumptions while the investigation continues.

    “Fire in the Oregon Coast Range is actually pretty rare … so the fact that it even happened and then it happened to be this tree — it was a very unique situation,” Harper said.

    BLM land around the Doerner Fir fire in Coquille, Ore., remains closed while firefighting continues.

    [ad_2]

    Grace Toohey

    Source link

  • Inside Downtown’s Beefy New Pan Latin Spot From Celeb Chef Richard Sandoval

    Inside Downtown’s Beefy New Pan Latin Spot From Celeb Chef Richard Sandoval

    [ad_1]

    Richard Sandoval’s career began in the ‘90s in New York, as the Mexico City-born chef opened a pair of French restaurants. Later, he opened Maya, a contemporary Mexican restaurant on the Upper East Side. Esteemed New York Times critic Ruth Reichl awarded the restaurant two stars.

    Sandoval’s star was bright and he opened restaurants all over America and the world. In Chicago, he opened a downtown food hall, Latinicity. He also partnered with several hotels, including the Conrad Chicago where he opened the rooftop restaurant Noyane and Baptiste & Bottle. Those restaurants all closed during the pandemic.

    Earlier this year, the celebrity chef returned to the Chicago market with Casa Chi, a Mag Mile restaurant that explores Nikkei cuisine. Now, this month, he opened another restaurant, Toro, a pan-Latin restaurant inside the Fairmont Chicago hotel near Millenium Park — technically it’s located in the Loop.

    The new restaurant is inside the Fairmont.

    Look for seafood and beef with flavors from Central and South Americas.

    The first Toro opened in 2014 in Scottsdale, Arizona, and there are similarities with other locations. For example, the Chicago menu shares items with Sandoval’s Houston restaurant, Toro Toro, which opened in November 2021. Smoked guacamole and swordfish dip are two appetizers from both restaurants. There are also sweet corn empanadas and short rib tacos. Picanha, a cut of beef with a thick fat cap that’s popular in Brazil, has been appearing on more menus stateside lately. Chicago diners will find American-raised wagyu versions of the cut at Toro. While absent from the Chicago restaurant’s name, the Houston location is labeled as a steakhouse. With the Picanha, a 52-ounce prime tomahawk ribeye for $220, for five more cuts of beef, Toro Chicago could also be considered a steakhouse. There are various raw bar items including ceviche made with Peruvian red snapper, bison tiradito, and a few sushi rolls including a vegan oyster mushroom selection.

    The cocktails also have a pan-Latin influence, and a press release touts the Flaming Coffee, a drink carted tableside via cart and mixed with rum, tequila, or bourbon and served with a flambéed cinnamon and sugar rim.

    Walk through the space below and check out some of the seafood dishes below.

    Toro Chicago, inside the Fairmont Chicago, 200 N. Columbus Drive, open 6 a.m. to midnight on Sunday through Thursday; 6 a.m. to 2 a.m. on Saturday. Reservations via OpenTable.

    [ad_2]

    Ashok Selvam

    Source link

  • Ravenswood’s New Cuban and Filipino Diner Serves Lumpia and Cubano Breakfast Burritos

    Ravenswood’s New Cuban and Filipino Diner Serves Lumpia and Cubano Breakfast Burritos

    [ad_1]

    Raquel Quadreny says her restaurant, Bayan Ko — the Cuban and Filipino hybrid in Ravenswood— has always offered “diner hospitality,” despite not being a diner and serving only dinner.

    “We’re just a very wholesome place, welcoming and very focused on being a neighborhood spot,” Quadreny says.

    That’s one of the reasons that Quadreny and her husband, chef Lawrence Letrero, naturally gravitated toward opening a diner a few doors down from their original restaurant. Bayan Ko Diner debuted in early May, bringing the all-day crowd back inside the former Glenn’s Diner. They’re open only for breakfast and lunch. They’ll eventually expand to dinner.

    “It’s just as much about enjoying yourselves while eating your food,” Quadreny says. “And you have to be the being taken care of by someone who’s being nice and kind to you so that you can feel comfortable.”

    The Filipino silog will probably draw some comparison with Chicago’s legendary Uncle Mike’s Place. There are pancakes, breakfast burritos, and even a cake of the day baked by Letrero’s sister, Tricia, a dentist who is a self-taught baker. Letrero gushes about her carrot cake: “I don’t even mess with carrots,” he says.

    The original Bayan Ko opened in 2018 and has recently shifted to a prix fixe format, allowing Letrero to use fancier ingredients, but retaining the laid-back vibe that drew a diverse group of customers. Some of the the original menu has moved to the diner. Quadreny grew up in Miami. The menu sees Cuban influences with tropical milkshakes, Cubano sliders, and a burrito stuffed with ropa vieja.

    Glenn’s Diner served daily and weekly specials, and Letrero continues that tradition. Bayan Ko’s popular chicken wings will be a diner special and so will oxtail soup.

    Regular menu items include a brick chicken inasal marinated with lemongrass with runny juices that saturate a diner’s choice of fries or garlic rice. There are also Cubano sliders. Letrero, a Filipino Canadian, also hinted at items like Filipino spaghetti, using hot dogs and that familiar sweet tomato sauce that many Americans know from Jollibee: “We’re just having fun with the menu,” Letrero says.

    The family-owned diner is special for Letrero and Quadreny. They say their unique bond has connected them with other Filipino-Cuban families in Chicago who have dined at their restaurant. Tour the space and check out some of the dishes below.

    Bayan Ko Diner, 1820 W. Montrose Avenue, open 9 a.m. to 3 p.m. daily, closed Tuesdays; dinner coming soon.

    [ad_2]

    Ashok Selvam

    Source link

  • Lincoln Park Discovers Its Soul

    Lincoln Park Discovers Its Soul

    [ad_1]

    When Shonya Williams, better known as Chef Royce, received a call from her daughter Tot in winter of 2022, she thought her prayers had been answered. Williams had suffered a stroke in 2019, which led her to close her two-and-a-half-year-old restaurant, Kiss My Dish in suburban Oswego. A veteran restaurateur who has opened four restaurants, Royce was taking time to heal while working as a caterer when she received her daughter’s call about a restaurant location that was being advertised as a turnkey rental at the corner of Armitage Avenue and Halsted Street in Lincoln Park.

    Williams was already looking to open a new restaurant on the city’s West Side in Austin, but her daughter’s call was a sign: “I really wanted to be back on the scene again. [Cooking] is what I love. So I asked God, ‘When is it gonna be my turn again? I want to do this again.”

    Williams signed a lease in Lincoln Park on March 15, 2023 across the street from where Chicago’s largest hospitality group, Lettuce Entertain You Enterprises, has three restaurants and a fourth on its way. She spent two months renovating the former Taco Bar space, opening Soul Prime, a soul food restaurant with fried chicken, fried catfish, and lobster on the menu, in time for Mother’s Day. But just four months later with a monthly rent of $14,338.51 and sales of less than $1,000 a day, she was thinking of closing.

    Shonya Williams is better known as Chef Royce.
    Chef Royce of Soul Prime stands in front of her restaurant smiling wearing an apron.

    A fork going through mac and cheese.

    Mac and cheese is one of the specialties.

    “I didn’t have loans or grants,” Williams says. “I have money that I have saved on my own. And I used every single dollar getting the place to a beautiful look inside, so that I can match this amazing community. I needed support from this actual community that I sit in, which I didn’t know a whole lot about. Unfortunately, I did not spend any money on marketing. I felt like people knew [me and my work], and it didn’t work like that.”

    Williams remains in business thanks, in part, to a visit from Keith Lee, an MMA fighter and popular food reviewer on TikTok. Lee reviewed Soul Prime in September 2023. In the video, he swoons over the collard green dip, fried chicken dipped in hot honey sauce, and peach lemonade while sitting curbside. He enters the restaurant after his meal is complete (something he says he’s never done before) to talk to chef Williams, who shares her struggle in bringing her vision to life and keeping it afloat.

    The video is uplifting, finishing off with Lee asking Williams to ring him up for $2,200 — matching her sales for that day. But it’s Williams’s comments on the neighborhood that tell the true story of her struggle: A Black woman in a predominantly white area of Chicago trying to serve food that’s often misunderstood by the wider American culture outside of Black neighborhoods.

    “I’m not getting a whole lot of reception from the community, but I need them because I’m in their community,” Williams says to Lee in the video. This is one of the few times she breaks eye contact with him and looks out the window, referring to the Lincoln Park area. “I haven’t got it.”

    Soul food cooks often have to battle outside perception.

    According to a 2023 Chicago Metropolitan Agency for City Planning report, Lincoln Park is a predominantly white community where 80 percent of people are white in the neighborhood even though white people comprise only 33 percent of Chicago’s population. The median household income level in the 60614 zip code is $123,044, well above the city’s median of $65,781. Soul Prime is the neighborhood’s only soul food restaurant. Soul food in Chicago is concentrated on the South and West sides.

    “Soul food is one of the African heritage cuisines in the United States, bringing together the culinary ingredients, traditions, and techniques of West Africa, Western Europe, and the Americas,” says Adrian Miller, James Beard Award-winning author of Soul Food: The Surprising Story of an American Cuisine, One Plate at a Time. “More importantly, it’s really the food that Black migrants took out of the South and transplanted in other parts of the country during the Great Migration. It is socially stigmatized because it’s associated with slavery and poverty food.”

    From catfish and grits to short rib, Soul Prime’s menu has something for everyone.

    Before Lee’s visit one acquaintance advised Williams to lower her prices, add salads, and bundle sides in the cost and presentation of her main dishes, instead of selling them separately. But that’s not how soul food works, Williams says. “I don’t know how to cook any other cuisines,” Williams says. “I make no salads because that’s not what I am. That’s not where I come from. That’s not what soul food is.”

    Miller says this is a situation that speaks to the larger issue of a restaurateur considered an outsider, having to legitimize itself outside of her own community, while simultaneously having to educate those unfamiliar with the traditions and prep of her cuisine. Today, it’s disproportionately falling on Black influencers and celebrities like Lee to seek out, sample, and celebrate Black-owned restaurants. Just look at Ayo Edebiri: The prominent Black Golden actress and star of The Bear, who won a Golden Globe this past January for her role in the culinary drama, used her platform after the awards gala to shout out Oooh Wee It Is in Hyde Park as “some of the best food [she’s] had in her life.” These spotlights are often a boon for the business, but they highlight a seemingly ever-present segregation between communities and cuisines and how they’re valued.

    Chef Royce wearing glasses looking down at the food she just made.

    Chef Williams has opened four restaurants and brought soul food to Lincoln Park’s toney community.

    “People don’t want to pay a lot of money for that, so that’s why it doesn’t surprise me at all,” that someone without the understanding of soul food’s history and complexities would suggest lowering prices, Miller says. “If [Soul Prime] were just to call themselves a Southern restaurant, they could charge a lot more money. It’s really more about class and place than it is about race. People in the same socioeconomic class are usually eating the same kind of food.”

    Chef Erick Williams faced a similar conundrum with Virtue in Hyde Park before he won his James Beard Award in 2022. Soul food and Southern food may look similar, but they are not the same. Miller says that soul food tends to be sweeter, more heavily spiced, and higher in fat. Soul food gets its name from the cadre of Black jazz musicians who were miffed by white jazz musicians making the most money from the musical genre that they created, says Miller. “They decided to take the music to a place where they thought white musicians could not mimic the sound. That was the sound of the Black church in the rural South. This gospel-tinged jazz sound emerged and the jazz artists themselves started calling it ‘soul’ and ‘funky’ soul. It was really ‘soul music’ first and then ‘soul’ just caught on in the culture: soul music, soul brothers, soul sister, soul food.”

    Hands sprinkling green herbs on a bowl of fried chicken wings.

    The term is most typically associated with the Black Power movement of the 1960s but its usage was floating around in Black culture well before that, Miller adds. The sentiment is echoed in the 1983 book Bricktop, by Ada “Bricktop” Smith and Jim Haskins.

    “I learned about soul food [in 1910], only they didn’t call it soul food then,” shares Smith, the Chicago woman and entrepreneur who became a legend overseas for playing nightlife host during Paris’ 1920s. Her clientele included F. Scott Fitzgerald, Josephine Baker, John Steinbeck, Duke Ellington, and Elizabeth Taylor. “Soul was something you didn’t talk about except in church. Soul food was Southern food. There weren’t all that many Negroes in Chicago when I was growing up, so it wasn’t until I went to places like Louisville and Cincinnati that I met up with Southerners and ate things like spare ribs and biscuits, sweet potatoes, and cornbread, chitlins, and fried chicken.”

    Chef Royce is very proud of her team of mostly Black women.

    Miller’s work is an effort to dispel misconceived notions around soul food and destigmatize years of history that have relegated it to lowbrow cuisine, synonymous with Black communities, instead of acknowledging its cultural significance that carries years of history within each bite of meat and three.

    “The other main critique is that [soul food] is unhealthy,” says Miller. “There are people who think that by making soul food and serving it to our community. You’re literally digesting white supremacy because you’re celebrating stuff from slavery. There are others that say ‘Why are you serving us this food? It’s killing us because they’re looking at the health outcomes in Black communities and directly tying it to soul food. If you actually look at what enslaved people were eating, it’s very close to what we call vegan today.”

    He explains how an enslaved person rose before sunrise and was fed “a trough filled with crumbled cornbread and buttermilk.” Their midday meal included seasonal vegetables, which might include meat to flavor the veggies but usually, it was only vegetables. Supper was whatever was leftover from lunch. “Only on the weekends, when work either stopped or slowed down did enslaved people get access to white flour, white sugar, meat and have cakes and desserts. That was special occasion food.”

    “Like any other immigrant cuisine, soul food is the food Black people took out of the South and transplanted in other places,” says Miller. “There’s certain signatures [dishes] that show up in celebrations. If you look at any immigrant cuisine in the U.S., typically an immigrant restaurateur is serving the celebration food of their culture, because they want to show off the very best of their culture. They don’t highlight the day-in and day-out stuff. And that’s the way to think about soul food. So these things like fried chicken, barbecue, fried catfish — people are not eating that every day.”

    A back room dining room at Soul Prime.

    TikTokker Keith Lee was very excited about this place.

    In Lincoln Park, Williams says she’s hopeful her restaurant can find a niche: “We shouldn’t have to go through ups and downs because of our skin color and I am glad to help break that barrier with food,” she says.

    Miller says there are lessons to be learned from the barbecue world where the genre was once also considered “working class, cheap food, and now people are paying $36 a pound for brisket and $20 a pound for ribs. A lot has to do with barbecue being seen as cool and hip.” That’s essentially what these influencers are doing — spreading the word about something great that other traditional arbiters of value and attention may have ignored.

    To date, the September TikTok video at Soul Prime has 9 million views, 1.2 million likes, and more than 23,000 comments. Lee recapped 2023 by ranking his top cities for food (ranking Chicago in his top three) and re-mentioning Soul Prime. Today, Soul Prime is still in business, which Williams credits to Lee’s visit.

    “The Keith Lee community is my local community,” says Williams. “They come and say they were sent by Keith Lee. My community is Black people. I know that we don’t live in Lincoln Park. Some of them follow me from the South Side, the South Suburbs, the West Side. The ones who I see who are non-Black, walking up and down the street, those are the ones that I really wanted to reach. They’re coming in now, I love them. I’m grateful.”

    [ad_2]

    Ximena N. Beltran Quan Kiu

    Source link

  • Apple braces for EU antitrust order over App Store: report

    Apple braces for EU antitrust order over App Store: report

    [ad_1]

    The European Union is about to hit Apple Inc. 
    AAPL,
    +0.75%

    with a ban on App Store rules that govern music-streaming rivals like Spotify Technology
    SPOT,
    -0.93%

    and a potential hefty fine in the regulatory body’s latest bid to thwart the power and reach of Big Tech. A Bloomberg report Wednesday said the EU’s imminent antitrust order would prohibit Apple’s practice of blocking music services from pushing their users away from the App Store to alternative subscription options. Regulators are also mulling a fine of up to 10% of Apple’s annual sales. Apple was not immediately available to comment on the report.

    [ad_2]

    Source link

  • Spotify announces third and largest round of layoffs

    Spotify announces third and largest round of layoffs

    [ad_1]

    Spotify Technology SA on Monday said it plans to reduce head count by 17%, which would mark the third time the audio streaming group has announced layoffs cuts this year.

    The Wall Street Journal said the cuts would equate to about 1,500 jobs.

    The move was announced by Chief Executive Officer Daniel Elk in a letter to employees that was posted on the company’s website.

    “Economic growth has slowed dramatically and capital has become more expensive. Spotify is not an exception to these realities,” he said, adding that the “painful” cuts were needed to align the company with “future goals and ensure we are right-sized for the challenges ahead.”

    Spotify
    SPOT,
    -2.39%

    previously announced 200 workers would be laid off in June and 600 workers in January.

    Elk said that he realized the new reductions seem “surprisingly large, given the recent positive earnings report and the company’s performance” — shares have soared 128% in 2023.

    Analysts have credited Spotify’s share performance this year to strong growth and improved profitability, but Citi downgraded the stock last week, saying risk-reward is no longer attractive.

    “We debated making smaller reductions throughout 2024 and 2025. Yet, considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to rightsize our costs was the best option to accomplish our objectives,” he said.

    Elk explained that in 2020 and 2021, Spotify took advantage of lower costs of capital and “invested significantly,” for example in expanding the company’s team and enhancing conent.

    “These investments generally worked, contributing to Spotify’s increased output and the platform’s robust growth this past year. However, we now find ourselves in a very different environment. And despite our efforts to reduce costs this past year, our cost structure for where we need to be is still too big,” he said.

    [ad_2]

    Source link

  • JPMorgan Chase & Co. Increases Spotify Technology (NYSE:SPOT) Price Target to $205.00

    JPMorgan Chase & Co. Increases Spotify Technology (NYSE:SPOT) Price Target to $205.00

    [ad_1]

    Spotify Technology (NYSE:SPOTGet Free Report) had its target price raised by JPMorgan Chase & Co. from $190.00 to $205.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 29.43% from the stock’s current price.

    SPOT has been the topic of a number of other reports. Barclays boosted their target price on Spotify Technology from $182.00 to $186.00 and gave the stock an “overweight” rating in a research report on Wednesday. Pivotal Research cut their target price on Spotify Technology from $145.00 to $140.00 in a research report on Wednesday, July 26th. Wells Fargo & Company lifted their price target on Spotify Technology from $180.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, July 14th. Monness Crespi & Hardt downgraded Spotify Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, September 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Wednesday, July 26th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.32.

    Read Our Latest Research Report on Spotify Technology

    Spotify Technology Stock Down 2.1 %

    Shares of NYSE SPOT opened at $158.39 on Wednesday. Spotify Technology has a fifty-two week low of $69.29 and a fifty-two week high of $182.00. The firm’s 50-day simple moving average is $153.51 and its 200 day simple moving average is $150.39. The stock has a market cap of $30.84 billion, a P/E ratio of -39.60 and a beta of 1.70.

    Spotify Technology (NYSE:SPOTGet Free Report) last announced its earnings results on Tuesday, October 24th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.56. Spotify Technology had a negative return on equity of 31.93% and a negative net margin of 5.70%. The business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.62 billion. On average, sell-side analysts anticipate that Spotify Technology will post -3.09 earnings per share for the current fiscal year.

    Hedge Funds Weigh In On Spotify Technology

    A number of hedge funds have recently made changes to their positions in SPOT. SRS Investment Management LLC acquired a new position in shares of Spotify Technology in the 1st quarter valued at $294,683,000. Acadian Asset Management LLC raised its stake in shares of Spotify Technology by 55,455.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,719,453 shares of the company’s stock valued at $276,015,000 after buying an additional 1,716,358 shares in the last quarter. Norges Bank acquired a new position in shares of Spotify Technology in the 4th quarter valued at $123,027,000. Wellington Management Group LLP raised its stake in shares of Spotify Technology by 140.8% in the 1st quarter. Wellington Management Group LLP now owns 1,694,044 shares of the company’s stock valued at $226,358,000 after buying an additional 990,485 shares in the last quarter. Finally, Technology Crossover Management XI Ltd. acquired a new position in shares of Spotify Technology in the 1st quarter valued at $127,271,000. Institutional investors and hedge funds own 56.89% of the company’s stock.

    Spotify Technology Company Profile

    (Get Free Report)

    Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

    Read More

    Analyst Recommendations for Spotify Technology (NYSE:SPOT)

    Receive News & Ratings for Spotify Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Spotify Technology and related companies with MarketBeat.com’s FREE daily email newsletter.

    [ad_2]

    ABMN Staff

    Source link

  • U.S. stocks drift higher as tech earnings, Fed rate decision loom

    U.S. stocks drift higher as tech earnings, Fed rate decision loom

    [ad_1]

    U.S. stocks were modestly higher on Tuesday as the Dow’s winning streak continued for now, while investors waited for big tech company earnings after the bell and the Federal Reserve’s interest rate decision on Wednesday.

    How stocks are trading

    • The S&P 500 climbed 5 points, or 0.1%, to 4,560

    • The Dow Jones Industrial Average gained 12 points, or 0%, to 35,423

    • The Nasdaq Composite increased 51 points, or 0.3%, to 14,110

    On Monday, the Dow Jones Industrial Average
    DJIA,
    +0.21%

    rose 184 points, or 0.52%, to 35411, the S&P 500
    SPX,
    +0.30%

    increased 18 points, or 0.4%, to 4555, and the Nasdaq Composite
    COMP,
    +0.66%

    gained 26 points, or 0.19%, to 14059.

    What’s driving markets

    The Dow Jones Industrial Average is on an 11-session winning streak, its best run in more than six years, as hopes build that the Federal Reserve’s remaining interest rate hikes this year will not cause a recession as inflation cools.

    Whether the Dow can make it an even dozen days of gains and extend its rally even further to fresh 15-month highs will likely depend on the next few days containing corporate earnings reports and Fed comments.

    Dow components 3M
    MMM,
    +5.58%

    and Verizon Communications Inc.
    VZ,
    +0.60%

    both reported results before the bell. So did big name companies like General Electric
    GE,
    +5.97%

    and General Motors
    GM,
    -4.44%
    .

    After the bell, come Microsoft
    MSFT,
    +1.18%

    and Visa
    V,
    -0.28%
    ,
    with non-Dow member Alphabet
    GOOG,
    +0.11%

    also a highlight. Coca-Cola
    KO,
    -0.23%

    and Boeing
    BA,
    -1.67%

    are among those Dow members presenting their numbers on Wednesday.

    Investors will be want to hear from Alphabet and Microsoft about their cloud businesses, the ongoing impact and use of artificial intelligence and their general outlooks for American and global markets, David Sekera, chief U.S. market strategist at Morningstar, said in a phone interview.

    Meanwhile, equity markets are in “a little bit of a holding period” ahead of the events to come, he noted.

    Read also: IMF sees signs global economy is headed in the right direction

    Wednesday also sees the Fed’s latest monetary policy decision. The market is certain the central bank will increase its policy interest rate by another 25 basis points to a range of 5.25% to 5.50%.

    But investors are less sure of whether that will be the last hike of the current cycle, so the Fed’s accompanying statement and what Chair Jerome Powell says at his press conference will be the main drivers of bonds, equities and forex around the event.

    “Our view is the Fed is one and done,” Sekera said. Even with expectations that central banks will continue to “talk tough” on inflation, Sekera said Morningstar’s base case is that July’s 25-basis point hike is the last, while inflation continues to cool over the second half of the year. Rate cuts could occur as early as February, he said.

    At Vanguard, Andrew Patterson, senior international economist, said in a note that the Fed could reach its terminal rate “with 1 or 2 more hikes.” The central bank is “likely to remain on hold through at least the end of the year.  If inflation proves persistent, this may be a sign of a higher neutral rate and the Fed may need to go to 6% or beyond in order to bring inflation back to target,” he said.

    Others think there’s more rate hikes to go. “There is a great chance that the Fed will spoil your mood if you are among those thinking that this week’s rate hike will be the last for this tightening cycle in the U.S.,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

    Read also: ‘No chance we’re having a soft landing’: Stock-market strategist David Rosenberg gives Powell’s Fed no credit — and no mercy

    Meanwhile, helping underpin sentiment on Tuesday was a rebound in Chinese stocks, notably property developers after Beijing signaled support for the heavily-indebted sector.

    In other economic data Tuesday, home prices increased for the fourth consecutive month in May, according to the S&P Case-Shiller Index. May’s strongest price gains were in Midwest cities, but the overall gains underscore the ongoing lack of supply of homes.

    While home prices are rising, so is consumer confidence. One gauge on consumer sentiment reached a two-year high, according to data out Tuesday. The Conference Board’s index for July increased to 117.0, which was above economists’ expectations and up from a revised 110.1 last month.

    While mood is brightening, the index is still below pre-pandemic levels as consumers contend with the toll of high prices and rising interest rates.

    Companies in focus

    • General Electric Co.
      GE,
      +5.97%

      shares up more than 6% and approaching a nearly five-year high after second quarter results from the aerospace and renewable energy company that topped expectation. The company reported net income of $946 million, or 86 cents per share, from a loss of $1.25 billion, or $1.13 a share one year ago, while free cash flow and revenue also beat estimates.

    • Verizon Communications Inc.
      VZ,
      +0.60%

       shares are up more than 0.7% after the telecommunications company topped profit expectations in its latest earnings but came just below revenue expectations. The company reported $1.21 earnings per share, above FactSet consensus for $1.17 earnings per share.

    • General Motors Co.
      GM,
      -4.44%

      shares are more than 3% lower after the car maker delivered better than expected second quarter earnings and raised its guidance. The company had adjusted earnings per share of $1.91, topping the $1.86 consensus according to FactSet.  

    • 3M Co.
      MMM,
      +5.58%

      shares are more than 6% higher Tuesday after results showing the company booked a loss in connection with a litigation settlement over “forever chemicals.” But taking away the one-time charge, the company still topped adjusted profit expectations and raised its full-year outlook.

    • Spotify Technology
      SPOT,
      -13.68%

      shares tumbled about 12% Tuesday after the streaming giant easily surpassed subscriber-growth expectations for its latest quarter but failed to sport upside on its key financials.

    [ad_2]

    Source link

  • F5, Logitech, Cadence Design, GE, GM, Microsoft, Alphabet, and More Stock Market Movers

    F5, Logitech, Cadence Design, GE, GM, Microsoft, Alphabet, and More Stock Market Movers

    [ad_1]


    • Order Reprints

    • Print Article

    [ad_2]

    Source link

  • SPOT Stock Price | Spotify Technology S.A. Stock Quote (U.S.: NYSE) | MarketWatch

    SPOT Stock Price | Spotify Technology S.A. Stock Quote (U.S.: NYSE) | MarketWatch

    [ad_1]

    SPOTUS

    Premarket


    Last Updated: Jul 14, 2023 6:30 a.m. EDT
    Delayed quote


    $
    174.32




    3.22
    1.88%


    Before Hours Volume:
    1.96K





    Close Chg Chg %
    $171.10 5.31 3.20%

    [ad_2]

    Source link

  • Spotify to lay off nearly 600 employees

    Spotify to lay off nearly 600 employees

    [ad_1]

    After slowing its pace of hiring last year, Spotify Technology SA confirmed Monday that it was laying off employees, adding to the wave of jobs cuts sweeping across the tech industry.

    The streaming music service disclosed in a filing with the Securities and Exchange Commission that it was reducing its workforce by about 6%, which translates to about 588 jobs.

    Bloomberg News had originally reported over the weekend that the company was planning job cuts as soon as this week.

    The Luxembourg-based company said it expects to record charges of EUR35 million to EUR45 million ($38.1 million to $48.9 million) related to severance payments.

    Spotify’s U.S.-listed shares
    SPOT,
    +4.63%

    rallied 4.4% toward a four-month high in premarket trading,

    In October, Spotify laid off at least 38 employees at its Gimlet and Parcast podcast units. Last June, Spotify Chief Executive Daniel Ek told employees that the company would reduce hiring by 25%, according to Bloomberg and CNBC reports.

    As of the end of its third quarter, Spotify had about 9,800 employees, according to its earnings report. More than 55,000 tech workers have been laid off so far in 2023, according to the website Layoffs.fyi, including 12,000 from Google parent Alphabet Inc., 10,000 from Microsoft Corp. and hundreds more from Intel Corp.

    Stockholm-based Spotify has been pressured by massive spending on podcasts in recent years, which have yet to deliver profits and have weighed on margins. In June, Ek predicted a meaningful ramp in profitability within the next couple of years.

    Separately, Spotify said Chief Content & Advertising Business Officer Dawn Ostroff will leave the company.

    Spotify shares have sunk about 50% over the past 12 months, compared with the S&P 500’s
    SPX,
    +1.89%

    10% decline over that time.

    [ad_2]

    Source link

  • Supermom In Training: $100 Birthday Party Series – Tweens

    Supermom In Training: $100 Birthday Party Series – Tweens

    [ad_1]

    Birthday parties can be no fun for busy overextended parents. I’m excited to bring you my $100 Birthday Party Series with great ideas for themes, menus, decorations and even gifts for all age groups, all for under $100. Come back every week for more birthday party suggestions.

    Ah yes – tweens. They can be tricky to handle and even trickier to plan a birthday party for. Believe it or not, it’s relatively easy to keep tweens happy on their big days – it’s about creating a chill, laid-back atmosphere where he or she can hang out comfortably with their friends. A fun activity and some cool noshes will keep your tweens and their best buds happy.

    For the boys, consider a video game party or something more active, like a cool obstacle course, a neighbourhood-wide scavenger hunt or a ball hockey tourney. Have an inexpensive prize for the winner at the end, like a gift card.

    For the ladies, spa parties are a  big hit at this age. Invite the girls to bring their favourite polishes and makeup, or do homemade face masks, manis and pedis. Maybe a dance party is more up your daughter’s alley – smoke machines, strobe lights or disco balls can really turn a room into a discotheque, and throw in some fun accessories like blow-up microphones and guitars. Perhaps there’s a craft project the girls would like to do: tie-dye shirts or canvas bags, painting ceramics (use oil-based Sharpies on plain dishes and then bake at 300 for 30 minutes), making their own lip gloss or soap, and so on. 

    Food should be simple and easy to munch on: pizza, nachos, a French fry bar, make-your-own tacos or subs, a milkshake or smoothie bar, etc.

    Forgo the usual decorations and go simple: a banner and some balloons. A photo booth spot could be fun too.

    A full-time work-from-home mom, Jennifer Cox (our “Supermom in Training”) loves dabbling in healthy cooking, craft projects, family outings, and more, sharing with readers everything she knows about being an (almost) superhero mommy.

    [ad_2]

    Source link