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Yahoo BusinessAug 12, 2020
Apple's Split to End Dominion of Dow Average's Biggest Stock
(Bloomberg) -- Apple Inc.'s planned stock split will diminish its influence on the Dow Jones Industrial Average after the iPhone maker's 100% surge since March lows nearly dragged the price-weighted measure back to an all-time high.At its current price of $452 a share, Apple has the biggest weighting in the index at 11%. A 4-to-1 split now would drop its price tag to about $113 and send its ranking in the Dow Average down to 16th. Apple has rallied almost 55% in 2020, adding more than 1,100 points to a stock measure that's fallen about 2% during that time. The split is scheduled to take effect Aug. 31.In a world where passive investing rules the stock market, a drop of weight in indexes like the Dow Average is likely to prompt outflows from money managers who mimic benchmark changes. About $31.5 billion was either indexed or benchmarked to the gauge at the end of 2019, according to data from S&P Dow Jones Indices.A stock split "is an appeal to retail," said Charles Day, a UBS managing director and private wealth adviser with more than $600 million in assets under management. "It will make a difference for the Dow."The split, however, won't affect Apple's No. 1 position in the S&P 500, an index that's weighted by market capitalization, rather than stock prices.Apple has rallied the most in the Dow this year as locked-down consumers snapped up new iPhones, iPads and Mac computers to stay connected during the pandemic. While any selling as a result of the weighting change may pale in comparison to the c

The Motley FoolAug 12, 2020
Here's Why K12 Stock Went Down on Wednesday
Investors were expecting the COVID-19 pandemic to have an immediately positive impact on K12's business.

MarketWatch MarketPulseAug 12, 2020
Coronavirus tally: Global cases of COVID-19 20.3 million, 741,737 deaths and U.S. death toll tops 164,000
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 20.3 million on Wednesday, with the death toll rising to 741,737, according to data aggregated by Johns Hopkins University. The U.S. has by far the most cases at 5.14 million, and COVID-19-related deaths at 164,537. Brazil is second with 3.06 million cases and 101,752 deaths. India is third measured by cases that rose to 2.3 million, followed by Russia with 900,745 and South Africa with 566,109. Mexico has 492,522 cases and 53,929 deaths, the third highest in the world. The U.K. has 313,402 cases and 46,611 fatalities, the highest in Europe and fourth highest in the world. China, where the illness was first reported late last year, has 89,020 cases, and 4,697 fatalities

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessAug 12, 2020
Why Nio Has A Shot At Becoming The 'Tesla Of China'
Chinese electric vehicle manufacturer Nio Inc - ADR (NYSE: NIO) reported Tuesday with forecast-beating second-quarter results and issued a strong third-quarter outlook. The Nio Analysts: Piper Sandler analyst Alexander Potter reiterated a Neutral rating on Nio and increased the price target from $4 to $14.BofA Securities analyst Ming Hsun Lee reiterated a Buy rating and increased the price target from $17.40 to $18.Why Nio Shares Could Trade In Line With EV Peers: Nio's narrower-than-expected second-quarter loss is due to a higher gross margin, with the vehicle margin coming in at a historical high of 9.7% and several basis points higher than the 5% guidance, Potter said in a note.More importantly, the company guided to continued gross margin expansion in the third and fourth quarters thanks to lower battery costs, the analyst said.From skepticism concerning the company's ability to remain a going concern, Nio has come a long way from skepticism over whether it could stay in business, he said. The automaker boasts unique products and has a reliance on subsidies, which are two prerequisites for success, Potter said.With Nio raising capital in two funding rounds, including a secondary offering in June, there are no longer fears that the company may go out of business, the analyst said. The stock will therefore trade more in-line with peers, and not at a substantial discount to them, he said. View more earnings on NIOThe company will slowly reduce its reliance on partners for core capabilities such as self-driving systems, batteries a

Google Business NewsAug 12, 2020
Dow Jones Spikes 300 Points On Moderna Coronavirus Vaccine News; Tesla Surges 8% On Stock Split - Investor's Business Daily
Dow Jones Spikes 300 Points On Moderna Coronavirus Vaccine News; Tesla Surges 8% On Stock Split  Investor's Business DailyHere's what happened to the stock market on Tuesday  CNBCS&P 500 in Ugly Reversal as Tech Wreck Dashes Path to Record High  Investing.comS&P 500 set to rise at open with eyes on stimulus  CNAWall Street Hits the Brakes  NewserView Full Cover
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