Tag: Sink

Sharks sink significant money into re-signing Kevin Labanc

Last off-season, Kevin Labanc did the Sharks a real solid by signing a one-year, $1 million contract. This time around, Labanc can take more than just bank puns to the bank, as the Sharks signed him to a four-year extension.

The Sharks didn’t confirm the financial details, but The Athletic’s Pierre LeBrun reports that the deal carries a robust $4.75 million cap hit.

As you can see, the Sharks signed LaBanc to a contract that follows the pattern of back-loaded deals trying to account for COVID uncertainty.

Sharks sign Kevin Labanc to big four-year extension

Judging from the reactions, Sharks fans and media aren’t impressed by this contract. After adding this $4.75M cap hit to the Sharks’ salary structure, San Jose has about $3M in space, according to Puck Pedia.

Considering the disastrous season the Sharks suffered through, it’s not shocking that fans blanche at a big-money contract. Particularly since it’s going toward keeping a player around, rather than adding a breath of fresh air.

At face value, Labanc’s season (14 goals, 33 points in 70 games) was a letdown. But it’s not all bad.

Not all bad for the Sharks, but not ideal

By a wide variety of underlying stats, the 24-year-old was more useful than the box scores might have indicated.

That said, nearing $5M per year makes it tougher to accept Transformers-ian “more than meets the eye” assurances.

Here’s what Sharks GM Doug Wilson said about Labanc, for whatever that’s worth.

“Kevin brings a rare level of offensive skill and creativity to our line-up and has

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Stock markets sink after Trump tests positive for virus

U.S. stock futures and world markets fell Friday after President Donald Trump said he and first lady Melania Trump had tested positive for the new coronavirus.

The future contracts for the S&P 500 and the Dow industrials dropped 1.6% and 1.5%, respectively while the price of oil tumbled almost 4%.

Trump tweeted news of his test results just hours after the White House announced that senior aide Hope Hicks had come down with the virus after traveling with the president several times this week.

The positive test reading for the leader of the world’s largest economy heaps uncertainty onto a growing pile of unknowns investors are grappling with, first among them how it might affect the Nov. 3 election and American policies on trade, tariffs and many other issues beyond then.

“To say this potentially could be a big deal is an understatement,” analysts at Rabobank said in a commentary. “Anyway, everything now takes a backseat to the latest incredible twist in this U.S. election campaign.”


A statement issued by Trump’s doctor saying both he and his wife were well and that he would continue his duties appeared to calm the markets’ reaction.

Germany’s DAX gave up 1.4% to 12,558 and the CAC 40 in Paris lost 1.1% to 4,771 after new inflation figures increased the likelihood that the European Central Bank will add to its stimulus efforts this winter. Britain’s FTSE 100 dropped 0.9% to 5,826.

Trading in Asia was thin, with markets in Shanghai and Hong Kong closed. The Nikkei 225 index shed strong early gains, losing 0.7% to 23,029.90 after the Tokyo Stock Exchange resumed trading following an all day outage due to a technical failure.

Reports that the Japanese government is preparing new stimulus measures to help the economy recover from a prolonged downturn worsened by

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US Futures Sink With Asia, Europe Stocks After Trump Tests Positive For Covid-19

US futures sank with most Asian and European equities Friday after Donald Trump announced he and his wife had tested positive for coronavirus, throwing fresh uncertainty into the presidential election.

The news compounded the downbeat mood on trading floors, where investors were already feeling pessimistic over US lawmakers’ failure to pass a new stimulus bill.

“Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!” Trump tweeted in the early hours.

The president had taken a test after his close White House aide Hope Hicks had tested positive earlier in the day, meaning he will now have to go into quarantine just weeks before one of the most crucial elections the country has ever had.

His doctor Scott Conley said the couple intended to stay at the White House “during their convalescence”.

“Rest assured I expect the president to continue carrying out his duties without disruption while recovering, and I will keep you updated on any future developments,” he added.

The White House cancelled a planned campaign rally in the crucial swing state of Florida on Friday, and 32 days before the November 3 vote against Democrat Joe Biden, it also looked certain Trump would have to cancel a slew of other trips scheduled for this weekend and next.

The news sent Dow futures tumbling 1.9 percent, while the S&P 500 shed 1.9 percent. Safe-haven assets also rallied, with the Japanese yen — a go-to in times of turmoil and uncertainty — rose to 105 per dollar, from 105.60 earlier in the day.

The greenback climbed against higher-yielding currencies including the Australian dollar and South Korean won, while gold jumped more than one percent and oil prices continued their downward spiral.

Japan’s Nikkei sank 0.7 percent, reversing

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