Grammy's Predictions, a Rejected Retail Deal and Natural Gas
Grammy's Predictions, a Rejected Retail Deal and Natural Gas
By:James Melton
A weekly look inside Luckbox magazine
Grammy predictions from The Rockhound
From rock and alternative to post-punk and pop, The Rockhound offers her thoughts on which acts will win Grammy Awards—and which ones should win.
Toronto-based alternative rockers Alvvays (pictured here) will probably get robbed in the Best Alternative Music Performance category, while Boygenius seems favored to win, Rockhound Kendall Polidori says. She also expects Boygenius to get a well-deserved Best Alternative Music Album award, while unjustly losing to Foo Fighters in the Best Rock Song category. Read the whole story.
The 2024 Grammy Awards will be broadcast Feb. 4.
Macy's rejects a buyout, creating options-trading opportunities
In early December, department store giant Macy’s (M) received an unsolicited takeover bid of $21 per share, valuing the company at close to $6 billion. But leadership rejected it saying the offer “lacked compelling value.”
The investor group targeting Macy’s plans to reassess the situation and potentially submit another bid with a higher price tag.
The takeover attempt and implied support in the company’s shares make options-focused opportunities look attractive heading into the company’s Q4 earnings report in late February. Read the whole story.
Is it time to buy natural gas?
Natural gas prices dropped more than 70% since peaking back in August 2022 above $9/MMBtu. Prices have been under pressure because of record production and above-average inventories in the United States.
The recent cold snap in North America significantly ate into existing natural gas inventories. That drop in supply could help push prices higher in the coming weeks, especially with natural gas sitting at multi-year lows.
Much of North America recently faced frigid conditions. As a result, natural gas production slowed, while inventories have been drawn down at an increasingly rapid pace. During the cold week of Jan. 12, the U.S. saw a drawdown of roughly 154 billion cubic feet (Bcf), which has helped push inventories back down toward the five-year average.
Another key consideration in global energy markets is the ongoing war in Ukraine. Before the war, Russia was one of the world’s top exporters of oil and gas. However, much of the West has instituted widespread boycotts of Russian energy exports. Read the whole story.
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James Melton is managing editor of Luckbox magazine. @JDMeltonWriter
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