Category Archives: Yahoo

By Noel Randewich

(Reuters) -Tesla's announcement on Monday that it will seek shareholder approval to increase its share count in order to enable a stock split adds to a recent wave of megacap companies splitting their shares in a bid to attract more investors.

Tesla said in a filing it would hold a vote at its upcoming annual shareholder meeting to increase the number of authorized shares in order to enable a stock split.

A stock split by Tesla, which would have be approved by its board of directors, would be the electric car maker's second since 2020, and it would follow stock split announcements by other major U.S. companies in recent years.

In the past two years, Apple, Nvidia and Tesla have split their shares, while Amazon and Google-parent Alphabet have recently announced upcoming share splits.

Companies split their shares to make their stock prices appear less expensive and appeal to more investors. However, splitting a stock does not affect its underlying fundamentals.

Still, BofA Global Research said in recent research note that stock splits "historically are bullish" for companies that enact them, with their shares marking an average returns of 25% one year later versus 9% for the market overall.

Tesla's stock surged 8% on Monday, adding over $100 billion to its stock market value.

Amazon has gained about 20% since March 9, when the ecommerce heavyweight announced a stock split that will take effect on June 6. That compares to a 7% gain in the Nasdaq during the same period. During that time, Wall Street has also seen a broad rebound in megacap growth stocks following losses earlier this year, as well as volatility related to rising interest rates and Russia's invasion of Ukraine.

Tesla was the most traded stock among Fidelity's online brokerage customers on Monday, with buy and sell orders almost evenly split, suggesting retail investors are cautious about the company.

Since joining the S&P 500 in December 2020, Tesla has been one of its most heavily weighted stocks, currently accounting for over 2% of the index. It has gained about 300% since announcing its first stock split in August 2020.

Other S&P 500 companies with nominally high share prices, which analysts say could hint at a future stock split announcement, include Chipotle Mexican Grill, up 0.1% on Monday at $1,558, as well as Booking Holdings, trading near flat at about $2,247.

(Reporting by Noel Randewich; Editing by Cynthia Osterman)

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Tesla adds to wave of megacap stock splits - Yahoo Finance

Teslas director for artificial intelligence is taking a sabbatical from the company, but that has not stopped CEO Elon Musk from announcing plans for the possible market launch of its A.I.-heavy Optimus robot in 2023.

In an interview published on Sunday, the ambitious billionaire (with a penchant for setting out unrealistic goals) reaffirmed plans to present a working proof-of-concept for the Optimusan all new product, for which there has not even been a physical mock-up.

It could be ready towards the end of next year, at least for a moderate (scale) series production, he told Germany's Welt am Sonntag, promising a pretty good result on a prototype basis before the end of this December.

Tesla appears to be in the process of rebranding itself as an A.I. company first, carmaker second as part of the next stage of growthMusks Master Plan Part 3.

During Teslas product roadmap update in January, Musk said that this years top two priorities are not completing engineering work on several cars already promised, but finishing Full Self-Driving (FSD) and working on Optimus.

Musk has argued the humanoid bot he unveiled in virtual form for the first time in August is not unlike a Tesla car: motion is achieved through a series of actuators and motors operated by a central processor and imbued with A.I. only instead of a four-wheels, its chassis is bipedal.

Humanoid robots are coming, look at Boston Dynamics. They make better models every year, Musk told the German weekly, referring to the new Hyundai Motor subsidiary that once belonged to tech investor SoftBank.

In light of Musk's announcement, the sudden news that his director of A.I., Andrej Karpathy, is taking a four-month sabbatical from his day job raises question marks.

Many Tesla investors no doubt remember similar news in 2018 with regards to Doug Field, who subsequently departed to Apple and then Ford, where he is now in charge of engineering for the EV operations recently spun off into Ford Model e.

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Karpathy has been in charge of Tesla Vision, the most critical part of FSD currently still officially undergoing beta testing.

This software system endows the car with the ability to instantly process footage from eight cameras placed around the vehicle into a three-dimensional map of its surroundings including the velocity and likely direction of other cars, cyclists and pedestrians detected.

While marketed in beta, FSD is in reality very much still a work in progress in which over 60,000 Tesla owners in the United States voluntarily serve as unofficial guinea pigs to troubleshoot the software.

The sabbatical comes as FSD beta testers still await the arrival of Version 11, which would combine software for city driving and highway driving into one so-called single stack that should streamline development.

It was presumably V11 that prompted Elon Musk to ask buyers to pay $12,000 for FSD in January. While inflation has prompted Tesla to repeatedly raise the price for cars, software is not directly affected by higher raw material costs for metals, plastics and other inputs.

During a recent interview with A.I. expert Lex Fridman, Musk may have given a subtle signal playing down Karpathy's importance. Andrejs awesome and obviously plays an important role, but we have a lot of really talented people driving things, he told the podcaster in December. People will give me too much credit and theyll give Andrej too much credit.

This could suggest Ashok Elluswamy and Milan Kovac will be playing an even bigger role going forward, even if Karpathy does not follow Field in leaving the company.

Karpathy, who himself said he was in the middle of a digital nomad trip that would see him visit Europe and Asia, suggested he had every intention of returning.

I already miss all the robots he posted to Twitter, adding he looked forward to having at his fingertips again Teslas supercomputer, allegedly among the five most powerful known in the world with over 10,000 graphics processing units.

This story was originally featured on Fortune.com

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Musk wants to start selling Tesla's AI-powered humanoid robot next year, but his AI chief just went on sabbatical - Yahoo Finance

The Detroit Lions will be on Hard Knocks 2022 coming this summer, it was announced at the NFL owners meetings on Monday. It is the first time in the series' 16-edition run that it will be held at training camp in Allen Park in Detroit. The five-episode season debuts on Aug. 9.

We are excited about the opportunity to showcase the City of Detroit and the amazing culture we are building at the Lions," Lions team president and CEO Rod Wood said. "HBO Sports & NFL Films are the best of the best and we know they will be excellent partners in sharing our story with football fans around the world.

The Lions, Carolina Panthers and New York Jets were the only three teams who were eligible without any rights of refusal. Teams with a first-year head coach cannot be forced to be on the show nor can teams who have made the playoffs in at least one of the past two seasons and teams who have been on the show within the past decade.

Detroit hired head coach Dan Campbell, 45, ahead of the 2021 NFL season. The Lions went 3-13-1 and have finished in last place in the NFC North four straight times.

"As Hard Knocks enters its third decade inside NFL training camps, we are both thrilled and thankful for the opportunity to feature a historic franchise like the Lions," said NFL Films Vice President and Senior Coordinating Producer Ken Rodgers said in the announcement. "The city, the culture and the coaching staff in Detroit all have an exciting energy that will make the show must-watch television this summer."

Campbell previously appeared on the show as an assistant with the Miami Dolphins in 2012. The club also features quarterback Jared Goff, who will be making his third appearance on "Hard Knocks." He was a rookie No. 1 overall pick with the Hard Knocks cameras were with the Los Angeles Rams (then in St. Louis) in 2016. He was also on the show in 2020.

The Lions are one of the few organizations with a woman owner in Sheila Ford Hamp, another potential story line that could evolve on the show.

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HBO's 'Hard Knocks' will cover Lions in 2022 edition for first time - Yahoo Sports

FORT WORTH, Texas, March 28, 2022 /PRNewswire/ -- On March 28, 2022, Kimbell Tiger Acquisition Corporation ("TGR" or the "Company"), a special purpose acquisition company and an indirect subsidiary of Kimbell Royalty Partners LP ("Kimbell"), announced that, commencing March 28, 2022, holders of the units sold in the Company's initial public offering may elect to separately trade the shares of Class A common stock and redeemable warrants included in the units. The shares of Class A common stock and warrants that are separated will trade on The New York Stock Exchange (the "NYSE") under the symbols "TGR" and "TGR.WS," respectively. Those units not separated will continue to trade on the NYSE under the symbol "TGR.U." Holders of the units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the holders' units into shares of Class A common stock and redeemable warrants.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained for free by visiting Edgar on the U.S. Securities and Exchange Commission's ("SEC") website at http://www.sec.gov or from UBS Investment Bank, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone: (888) 827-7275, or email: ol-prospectusrequest@ubs.com.

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the trading of TGR's securities on the NYSE. These and other forward-looking statements involve risks and uncertainties, including risks relating to general market and economic conditions, the COVID-19 pandemic and other risks and uncertainties described in TGR's filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Except as required by law, TGR undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in TGR's filings with the SEC.

Contact:Rick BlackDennard Lascar Investor Relationskrp@dennardlascar.com(713) 529-6600

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SOURCE Kimbell Tiger Acquisition Corporation

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Kimbell Tiger Acquisition Corporation Announces the Separate Trading of its Class A Common Stock and Warrants, Commencing March 28, 2022 - Yahoo...

It's only Monday, and it's already been a big news week for football in the city of Detroit.

First, the Detroit Lions were selected as the subject of HBO's "Hard Knocks" this season for the first time. And later on Monday, the city found out that it will be hosting the traveling show known as the NFL draft.

It was announced Monday at the NFL's owner meetings that Detroit will host the 2024 NFL draft also a first for the city.

Detroit had shown extensive interest in hosting the draft for years now, with team president Rod Wood mentioning the franchise's desire to enter the draft-hosting mix in the coming years. NFL owners voted today to award the 2024 draft to Detroit over the other two finalist cities, Green Bay and Washington, D.C.

Green Bay Packers president Mark Murphy was also hopeful his team would land the event and said his team's city will push to host future drafts.

After New York hosted the event for many years through 2014, the NFL moved it on the road to Chicago (2015 and 2016), Philadelphia (2017), Dallas (2018), Nashville (2019) and Cleveland (2021).

This year's draft will reside in Las Vegas for the first time; the city was poised to host the 2020 NFL draft before that event went all-virtual during the COVID-19 pandemic.

Kansas City was selected as the 2023 NFL draft host. The dates for the 2024 draft have yet to be announced. The event is expected to take place in the area around Ford Field, as well as at the nearby Campus Martius Park downtown. The historic Fox Theater also could be used for portions of the event.

The Draft has become a prominent offseason event across the country, and we are excited to work with the Lions and their partners to bring the 2024 NFL Draft to the Motor City, NFL commissioner Roger Goodell said in a statement. With the help of Visit Detroit, the Detroit Sports Commission, and the City of Detroit the Lions passionate fan base and all visitors will be treated to an incredible three-day experience.

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Detroit approved to host the 2024 NFL draft - Yahoo Sports

Alcanna Inc.

The Arrangement is expected to close on or about March 31, 2022

EDMONTON, Alberta, March 28, 2022 (GLOBE NEWSWIRE) -- Alcanna Inc. ("Alcanna" or the "Company") (TSX: CLIQ) announces today that all regulatory requirements under applicable provincial liquor and cannabis legislation have been satisfied for completion of the previously announced plan of arrangement (the "Arrangement") with Sundial Growers Inc. ("Sundial") (NASDAQ: SNDL) under section 192 of the Canada Business Corporations Act pursuant to the terms of the arrangement agreement between Alcanna and Sundial dated October 7, 2021, as amended by the amending agreement dated January 6, 2022 (the "Arrangement Agreement"). Sundial and Alcanna have mutually agreed to extend the outside date for closing of the Arrangement to March 31, 2022. Completion of the Arrangement remains subject only to customary closing conditions as further described in the Arrangement Agreement. If the Arrangement is completed on March 31, 2022, the Alcanna Shares are expected to be de-listed from the Toronto Stock Exchange (the "TSX") on or about April 4, 2022.

Pursuant to the Arrangement Agreement and the amended terms of the plan of arrangement attached thereto, Sundial has agreed to acquire all of the issued and outstanding common shares in the capital of Alcanna (the "Alcanna Shares") from the holders of Alcanna Shares ("Alcanna Shareholders"). Pursuant to the Arrangement Agreement, each Alcanna Shareholder will be entitled to receive, in exchange for each Alcanna Share held: (i) 8.85 common shares (each whole share, a "Sundial Share") in the capital of Sundial (the "Share Consideration"); and (ii) $1.50 in cash (together with the Share Consideration, the "Revised Consideration").

SUNDIAL FILING OF ANNUAL DISCLOSURE

Sundial has announced a delay in filing its audited consolidated financial statements for the year ended December 31, 2021, annual management's discussion and analysis for the same period and management certifications of annual filings (collectively, the "Sundial Filings") beyond the deadline of March 31, 2022 prescribed by Canadian securities laws. Sundial has announced that it expects to file its Annual Report on Form 20-F within the applicable U.S. filing deadline and to report fourth quarter and full year 2021 earnings on or before April 14, 2022.

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Sundial's press release stated the following with respect to the delay of the Sundial Filings:

The principal reason for the delay is the significant amount of additional work and in-depth procedures required to be performed by the Company and its external auditor as 2021 is the first year that [Sundial] is required to have an auditor attestation report on its internal controls over financial reporting under Section 404(b) of the Sarbanes-Oxley Act of 2002 (SOX). This requirement to be SOX compliant is a function of the rapid growth in scale and level of corporate activity Sundial has achieved over the last two years. SOX compliance requires heightened levels of corporate controls and processes that will ultimately benefit Sundial shareholders through best practices in risk management.

[Sundial]s auditor is completing its external audit and will be unable to issue an audit opinion before the end of March 2022 as previously expected. [Sundial] believes that there will be no restatement of previously released financial statements of Sundial.

[Sundial] has informed the staff of the Alberta Securities Commission (the "ASC") about its anticipated delay of the Filings and has applied to the ASC pursuant to Part 4 of National Policy 12-203 Management Cease Trade Orders ("NP 12-203") for a Management Cease Trade Order ("MCTO") pending the release of the Filings. If an MCTO is issued, Sundial intends to satisfy the provisions of the "alternative information guidelines" set out in NP 12-203, including the requirement to file bi-weekly status reports in the form of news releases containing prescribed updating information, until the Filings are made. An MCTO would not generally affect the ability of persons who are not directors, officers, or insiders of [Sundial] to trade in securities of [Sundial].

Alcanna Shareholders are encouraged to read the full text of Sundial's press release in respect of the Sundial Filings.

SUBMISSION OF AMENDED AND RESTATED LETTER OF TRANSMITTAL

Following completion of the Arrangement, each Alcanna Shareholder will cease to be an Alcanna Shareholder and to have any rights in respect of their Alcanna Shares other than to receive the Revised Consideration payable to such Alcanna Shareholder pursuant to the Plan of Arrangement.

As previously announced, Alcanna has mailed an amended and restated letter of transmittal to registered Alcanna Shareholders to receive the Revised Consideration upon completion of the Arrangement. The amended and restated letter of transmittal is also available under Alcanna's profile on SEDAR at http://www.sedar.com and on Alcanna's website at https://www.alcanna.com/ALCANNA-Special-Meeting-Materials.

The amended and restated letter of transmittal is for use by registered Alcanna Shareholders. Alcanna Shareholders that do not have their Alcanna Shares registered in their name (rather, such Alcanna Shares are registered in the name of a broker or other intermediary) should contact their broker or other intermediary for instructions and assistance regarding receipt of the Revised Consideration to which they are entitled upon completion of the Arrangement.

In order to receive the Revised Consideration under the Arrangement, registered Alcanna Shareholders must complete the amended and restated letter of transmittal and submit it to Odyssey Trust Company, the depositary, in accordance with the instructions set out in the amended and restated letter of transmittal. If Alcanna Shareholders have questions about submitting the amended and restated letter of transmittal, please contact Odyssey Trust Company by email at corp.actions@odysseytrust.com or at 1-587-885-0960.

NASDAQ LISTING OF SUNDIAL SHARES

On August 12, 2021, Sundial disclosed that it was notified by the NASDAQ Capital Market ("NASDAQ") on August 9, 2021 that the bid price for the Sundial Shares did not meet the NASDAQ minimum bid price requirement of US$1.00 per Sundial Share for the 30 consecutive business days from June 25, 2021 to August 6, 2021. At that time, the NASDAQ required Sundial to regain compliance by February 7, 2022. On February 8, 2022, Sundial announced that it had received an extension of 180 calendar days to meet this requirement of the NASDAQ. The extension will allow Sundial to regain compliance if the bid price for the Sundial Shares closes at or above US$1.00 per share for a minimum of 10 consecutive trading days before August 8, 2022. Sundial has disclosed that it intends to monitor the closing bid price of the Sundial Shares and will, if necessary, implement available options to regain compliance with the NASDAQ minimum bid price requirement, including a reverse stock split.

The Arrangement Agreement, including further information on the conditions precedent to completion of the Arrangement, are described in the management information circular and proxy statement of Alcanna dated November 9, 2021 (collectively, the "Circular"), and the material change report of Alcanna dated January 6, 2022, copies of which have been filed on SEDAR at http://www.sedar.com and are available on Alcanna's website at https://www.alcanna.com/ALCANNA-Special-Meeting-Materials.

ABOUT ALCANNA INC.

Alcanna is one of the largest private sector retailers of alcohol in North America and the largest in Canada by number of stores operating locations in Alberta and British Columbia. The Company's strategic partner, Nova Cannabis Inc. (TSX: NOVC), also operates 78 cannabis retail stores in Alberta, Ontario, and Saskatchewan. Alcanna Shares trade on the TSX under the symbol "CLIQ". Additional information about Alcanna is available on SEDAR at http://www.sedar.com and the Company's website at http://www.alcanna.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation, relating to, among other things, the satisfaction or waiver of all of the remaining conditions precedent to completion of the Arrangement; the anticipated completion of the Arrangement and timing thereof; the rights of Alcanna Shareholders upon completion of the Arrangement; the de-listing of the Alcanna Shares from the TSX and the timing thereof; the anticipated delay of the Sundial Filings; the anticipated timing of release of the Sundial Filings; the timing of release of Sundial's Annual Report on Form 20-F and report of Sundial's fourth quarter and full year 2021 earnings; Sundial's expectations with respect to SOX compliance and benefits thereof; the ability of Sundial to obtain a MCTO and intentions with respect to compliance with NP 12-203; the continued ability to trade securities of Sundial prior to the release of the Sundial Filings; prior to the the continued listing of the Sundial Shares on the NASDAQ; Sundial's intentions with respect to attempts to re-gain compliance with the minimum bid price requirement of the NASDAQ; and Sundial's ability to re-gain compliance with the minimum bid price requirement of the NASDAQ. Forward-looking statements are typically identified by words such as "continue", "anticipate", "will", "should", "plan", "intend", and similar words suggesting future events or future performance. All statements and information other than statements of historical fact contained in this news release are forward-looking statements.

The risk factors and uncertainties related to the Arrangement include, among other things: risks related to the completion and the timing of the Arrangement; the ability to complete the Arrangement on the terms and timeline contemplated by the Arrangement Agreement, or at all; the ability and expectation that following completion of the Arrangement, Sundial will continue to experience enhanced market liquidity and growth; that Alcanna's cash flow and retail operations expertise will accelerate Sundial's growth; the ability of the consolidated entity to focus more management effort on its investment arm; the ability of the consolidated entity to realize the anticipated benefits from the Arrangement and the timing thereof; the inability of the parties to fulfill or waive any conditions precedent to the completion of the Arrangement Agreement, including obtaining required regulatory approvals; interloper or other stakeholder risk; risks related to the operations of Alcanna's liquor retail business upon completion of the Arrangement; risks related to new issuances of Sundial Shares that could affect the Alcanna Shareholders' pro forma ownership of Sundial; the risks and uncertainties related to the ability of the consolidated entity to successfully integrate the respective businesses, execute on the strategic opportunity, as well as the ability to ensure continued performance or market growth of its products; the duration and severity of the COVID-19 pandemic on the business, operations and financial condition of the consolidated entity; the risk that the consolidated entity will be unable to execute its strategic plan and growth strategy, including the capital allocation and retail cannabis strategy, as planned or at all; dependence on suppliers; potential delays or changes in plans with respect to capital expenditures and the availability of capital on acceptable terms; risks inherent in the liquor retail and cannabis industries; competition for, among other things, customers, supply, capital and skilled personnel; changes in labour costs and markets; inaccurate assessments of the value of acquisitions; general economic and provincial and national political conditions in Canada and globally; industry conditions, including changes in government regulations; fluctuations in foreign exchange or interest rates; unanticipated operating events; failure to obtain regulatory and thirdparty consents and approvals when required; changes in tax and other laws that affect us and our security holders; the potential failure of counterparties to honour their contractual obligations; stock market volatility; and risks associated with existing and potential future lawsuits, shareholder proposals and regulatory actions.

Readers should not place undue reliance on forward-looking statements included in this news release. Forward-looking statements are inherently subject to change and do not guarantee future performance and actual results may differ materially from those expressed or implied by the forward-looking statements. A number of risks, uncertainties and other factors that may cause actual performance and results to differ materially from any estimates, forecasts or projections, or could cause our current objectives, strategies and intentions to change.

In addition, if the Arrangement is not completed, and each of the parties continues as an independent entity, there are risks that the announcement of the Arrangement and the dedication of substantial resources of each party to the completion of the Arrangement could have an impact on such party's business relationships, and could have a material adverse effect on the current and future operations, financial conditions and prospects of such party. Readers should refer to the discussion of risks set forth in the Circular under the heading "Risk Factors". A comprehensive discussion of other risks relating to Alcanna's business are contained under the heading "Risk Factors" in Alcanna's annual information form for the financial year ended December 31, 2020 dated March 25, 2021 which is available on SEDAR at http://www.sedar.com. Additional information regarding risks and uncertainties relating to Sundial's business are contained under "Item 3D Risk Factors" in Sundial's Annual Report on Form 20-F, which was filed with the Securities and Exchange Commission on March 17, 2021 which is available on SEDAR at http://www.sedar.com and EDGAR at http://www.sec.gov. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release are made as of the date hereof. Except as expressly required by applicable securities legislation, Alcanna does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

CONTACT INFORMATION

James BurnsVice Chair & Chief Executive Officer Alcanna Inc. (587) 460-1026

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Alcanna Inc. Announces Anticipated Closing Date of Proposed Plan of Arrangement with Sundial Growers Inc. - Yahoo Finance

European stocks rose as all eyes are firmly focused on the Federal Reserve meeting later today the first in four years, where an interest rate hike is expected. Photo: Tom Williams/CQ-Roll Call, Inc via Getty

European stocks pushed higher on Wednesday as investors awaited a widely anticipated decision by the US Federal Reserve on interest rate policy.

In London, the FTSE 100 (^FTSE) closed 1.6% higher on the day, while the CAC (^FCHI) gained 3.7% in Paris, and the Frankfurt DAX (^GDAXI) advanced 3.8%.

All eyes are firmly focused on the Federal Reserve meeting later today the first in four years, where an interest rate hike is expected, Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said.

Should this fail to materialise, further volatility across European and the UK market should be expected. Its also worth keeping in mind the Russian invasion of Ukraine means the frequency and extent of rate rises may not be as high as previously predicted.

The positive mood also comes amid fresh signs that a negotiated deal to end the conflict in Ukraine may be a step closer. Sentiment was lifted as President Zelensky said peace talks are starting to "sound more realistic" while conceding that Ukraine will not join Nato.

Travel and leisure stocks, autos, and financials are leading the gains in Europe, with all major bourses in the green.

Meanwhile, traders will also be keeping their eyes on the prospect that Russia might default on a bond payment.

A $117m (90m) interest payment is due on a US dollar bond, which Russia has said it will pay in roubles this would start the clock ticking on a potential default. However, it will still have a 30-day grace period to make the coupon payments.

Read more: Bank of England set to raise interest rates for third time since pandemic

Across the pond, the S&P 500 (^GSPC) rose 1.3% and the tech-heavy Nasdaq (^IXIC) was 2.2% up at the time of the European close. The Dow Jones (^DJI) gained 0.9%.

On Tuesday, US markets managed to finish the session sharply higher, with the S&P 500 finishing ahead for the first time since last Wednesday.

Later in the session, the latest US retail sales report for February will be revealed. Expectations are for sales to rise by 0.4% in February.

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US retail sales saw a big rebound in January after a decline of 1.9% in December. January retail sales showed that, despite weak consumer confidence, spending rebounded at its fastest rate in 10 months, rising by 3.8%, well above expectations of 2%.

The biggest gains were in online sales, as well as furniture, autos and building materials.

Read more: What does the EU's backtrack on bitcoin mining ban mean for crypto investors?

Asian shares rose on Wednesday, with the Nikkei (^N225) climbing 1.6% in Japan, while the Hang Seng (^HSI) rocketed more than 9% in Hong Kong after plunging earlier in the week, and the Shanghai Composite (000001.SS) climbed 3.5%.

The rally came after Beijing pledged policies to boost financial markets and stimulate economic growth.

Chinese stocks had been hit by fears that the economy would suffer from renewed lockdowns and disruption to the electronics manufacturing hub of Shenzhen, further deterioration in the real estate sector amid bad debts, and the country potentially providing support to Russia in its war on Ukraine," Russ Mould, investment director at AJ Bell.

"These factors added to existing pressures around tighter regulatory interference on various sectors and whether Chinese companies should still be allowed to list their shares on overseas markets.

Now Beijing has vowed to introduce policies that benefit markets although the big unknown is still whether the country will side with Russia."

Watch: How does inflation affect interest rates

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European stocks climb as Fed to raise rates for first time since 2018 - Yahoo Finance

The Washington Commanders had a busy Wednesday afternoon. After appearing to lose running back J.D. McKissic to the Buffalo Bills, the Commanders reportedly offered him the same money he was getting in Buffalo and he decided to stay.

On the heels of that surprise came news that the Commanders had cut three players: left guard Ereck Flowers, safety Deshazor Everett, and defensive tackle Matt Ioannidis, which saves them $19 million against the cap.

Ioannidis was not expecting to be released, and Alan Herman, Ioannidis' agent, wasn't expecting it either especially in light of a conversation Herman says he had with a team representative. Herman told the Associated Press that he and his fellow agent, Jared Fox, were lied to by Commanders senior VP of football administration Rob Rogers when they spoke to him during the NFL combine.

They looked us straight in the eye, Rob Rogers, and Rob basically said to Jared and myself: Absolutely not. We have no thoughts of releasing Matt Ioannidis, Herman told The Associated Press. We dont particularly care to be lied to to our face. I dont like when someone lies to my face.

They took him out of the free agent market now for two days. That puts us now at a disadvantage because other teams have paid other defensive linemen contracts, and (Ioannidis) hasnt been able to take advantage of that. Thats not the way you conduct business in the National Football League.

[Join the Yahoo Fantasy Tourney Pick'Em $25K Best Bracket Contest]

Those are some spicy words to throw around, but it's likely a reflection of how he and Ioannidis feel. Ioannidis has been with the Commanders since they drafted him in 2016. He's been around long enough to see four different quarterbacks come and go, and he's played under two different head coaches and one interim head coach. Releasing players is part of the calculus of the game, but it's hard to blame Ioannidis for feeling some kind of way after having the script flipped on him like that.

But to be fair to the Commanders, the conversation between Herman, Fox, and Rogers happened before the team traded for quarterback Carson Wentz, who comes with a cap hit of over $28 million this season. That's a pretty significant chunk of cap space, and the surprise of being able to retain McKissic probably forced Washington's hand. Unfortunately for Ioannidis, conversations aren't contracts, and he's now looking for a new team for the 2022 season.

DT Matt Ioannidis was surprisingly released by the Commanders on Wednesday, and his agent was not happy about it. (Geoff Burke-USA TODAY Sports)

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DT Matt Ioannidis cut by Commanders, agent not happy after team 'lied to our face' - Yahoo Sports

A former Georgia wide receiver was arrested on Wednesday and charged with the 2021 murder of an Athens-area gas station attendant, the Oconee County Sheriffs Office announced, via the Atlanta Journal-Constitution.

Ahkil Crumpton was arrested and charged after police said he shot and killed 23-year-old Elijah James Wood at a RaceTrac gas station early on March 19, 2021. Crumpton, a Philadelphia native who has been under investigation since last month, allegedly was dressed in all black with a face covering on when he killed Wood who was later found dead behind the counter by a customer.

Crumpton was arrested in Philadelphia after officials said they matched the shell casing from the gas station shooting to another crime scene in Philadelphia.

For the past year we have seen the pain, agony, and frustrations this murder has brought to Elijahs family, friends, and to our community, Sheriff James A. Hale said in a statement. We all know this arrest will not bring Elijah back, but we hope his family, friends, and this community can now begin the healing process. We also know that the fight is not over. We must now successfully prosecute the case in a court of law.

Crumpton played at Georgia for two seasons in 2017 and 2018, and had 10 receptions for 117 yards and one touchdown during that span.

We were stunned to learn that the suspect in this horrific crime is a former UGA student-athlete, the UGA Athletic Association said in a statement, via the Journal-Constitution. We offer our heartfelt sympathy to Elijah Woods family.

Ahkil Crumpton, who played two seasons at Georgia in 2017 and 2018, was arrested in Philadelphia on Wednesday. (Jamie Gilliam/Icon Sportswire/Getty Images)

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Former Georgia WR arrested, charged with 2021 murder of gas station attendant - Yahoo Sports

Investors are starting to get very nervous about the market's near-term direction, and it shows in their actions.

"Russia/Ukraine drives fund manager cash levels to highest since April 2020 (COVID), global growth optimism to lowest since Jul08 (Lehman)," said Michael Hartnett, Bank of America chief investment strategist, in the latest survey of managers from the bank.

The details behind the report are ugly.

Hartnett notes growth expectations among fund managers is at a 14-year low. The majority of those surveyed expect inflation to be "permanent." As for risks, the Russia-Ukraine war is seen as the number one "tail risk" for markets followed closely by a global recession.

Amid these risks, fund managers took their allocation of cash to 5.9% from 5.3% in the prior month. This was the highest allocation to cash since March 2020.

"Cash levels are rececessionary," Hartnett points out. A rare bright spot is that investors haven't totally thrown in the towel on stocks.

"Investors remain overweight stocks, not underweight; equity allocations are not at 'recessionary' close-your-eyes-and-buy levels," Hartnett added.

Markets continue to reflect these multitude of concerns, however.

The Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) are down by about 5% each so far in March, according to Yahoo Finance Plus data. The Nasdaq Composite (^IXIC) is off 6.2% on the month.

Yahoo Finance's Jared Blikre reports the Dow and S&P 500 are in correction territory and the Nasdaq Composite is mired in a bear market.

From their respective record highs, the Dow is down by 11%, the S&P 500 is down 13.5% and the Nasdaq Composite has shed 22.5%.

"The bond markets is getting very concerned about the growth outlook and growth prospects. That being said, we are seeing nominal yields rise across the board. Not just in the United States, but across the G-7 economies in general which is telling you that I think a lot of traders are worried about persistently high inflation," said DoubleLine portfolio manager Bill Campbell on Yahoo Finance Live.

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Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Investors are beginning to hoard cash on recession fears: BofA - Yahoo Finance