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Yahoo Business
Sep 22, 2020

Battery day starts on a low note with Musk's warnings
Tesla's big day - Battery day - was set to start on a high note on Tuesday, but unexpected tweets from the CEO - Elon Musk - had many investors worried about production of new cars from the company. Yahoo Finance's Rick Newman joins The Final Round panel to discuss what to expect from Battery Day.

Yahoo Business
Sep 22, 2020

Tesla rival? Bill Gates-backed electric vehicle battery startup comes into limelight
The U.S. Department of Labor on Tuesday announced a proposed rule that would change the federal government's test used to determine whether workers are employees or independent contractors under the Fair Labor Standards Act.

Yahoo Business
Sep 22, 2020

Aurora Cannabis Announces Fiscal Fourth Quarter 2020 Results
* Continued Adjusted EBITDA Improvement Due to Strong Gross Margins and Reduced SG&A; * Debt Levels and CapEx Spend Down Substantially in Q4 2020 * Provides Guidance for Q1 2021NYSE | TSX: ACBEDMONTON, AB, Sept. 22, 2020 /CNW/ - Aurora Cannabis Inc.

Yahoo Business
Sep 22, 2020

Stitch Fix Q4 revenue beats, CEO says company has ‘successfully navigated' coronavirus
Stitch Fix announced its fourth quarter earnings report after hours on Tuesday, with the company beating investor's expectations on both top and bottom lines. The company's CEO said that the retail company ‘successfully navigated the deadest impacts' of the coronavirus, but released no guidance. Yahoo Finance's Myles Udland breaks down the company's earnings report.

Yahoo Business
Sep 22, 2020

Coronavirus update: US death toll tops 200K as Europe outlook darkens; FDA adds teeth to vaccine process
The U.S. marked a grim milestone in the coronavirus pandemic, with more than 200,000 deaths reported Tuesday, even as optimism continues to rise over a vaccine.

Yahoo Business
Sep 22, 2020

Nike swings back to a quarterly profit as digital sales surge 82%
Nike reported fiscal first-quarter results after market close on Tuesday.

Yahoo Business
Sep 22, 2020

Xeris Pharmaceuticals'(NASDAQ:XERS) Share Price Is Down 31% Over The Past Year.
Over the last month the Xeris Pharmaceuticals, Inc. (NASDAQ:XERS) has been much stronger than before, rebounding by...

Yahoo Business
Sep 22, 2020

Here's what to expect from Tesla's Battery Day event
Yahoo Finance's Emily McCormick joins Akiko Fujita to break down what to expect from Tesla's Battery Day event.

Yahoo Business
Sep 22, 2020

Disney appeal to California: 'It's time' to let Disneyland reopen
Is more volatility on tap for stocks? Following a three-week losing streak, the longest in about a year, all eyes are on the market. The three major U.S. stock indexes have struggled for the last few weeks as the titans of tech, which have fueled the charge forward from COVID-induced lows, came under pressure due to overheated valuations, with market watchers waiting to see how renewed lockdown fears will come into play.So, what's the bottom line for investors? Even though uncertainty remains as Wall Street gears up for the fourth quarter, the pros are pounding the table on a select few names, noting that these tickers boast strong long-term growth narratives.Bearing this in mind, our focus shifted to two penny stocks backed by investment firm Cantor. Major gains could be in store, as the firm's analysts believe these tickers trading for less than $5 per share could climb all the way to $11.These plays are known for being risky, so we turned to TipRanks' database. Using the platform, we got the full scoop, to find out why both are so compelling even with the risk involved.Rockwell Medical (RMTI)With the goal of transforming iron deficiency and anemia management in a wide variety of therapeutic areas, Rockwell Medical works to improve the lives of patients all over the world. Given the strength of its technology and its $1.22 share price, Cantor thinks that now is the time to snap up shares.Firm analyst Brandon Folkes notes that RMTI "has begun to build on its presence in the dialysis market" with the recent la

Yahoo Business
Sep 22, 2020

Father, Son Used-Car Sellers Get $5 Billion Richer in a Day
Restaurant bankruptcies are starting to pile up.

Yahoo Business
Sep 22, 2020

Western Digital's (NASDAQ:WDC) Shareholders Are Down 58% On Their Shares
The truth is that if you invest for long enough, you're going to end up with some losing stocks. But the long term...

Yahoo Business
Sep 22, 2020

We Like These Underlying Trends At Verizon Communications (NYSE:VZ)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...

Yahoo Business
Sep 22, 2020

Amazon Offers $500 Prime Bike, Encroaching on Peloton's Turf
Restaurant bankruptcies are starting to pile up.

Yahoo Business
Sep 22, 2020

Could The Market Be Wrong About VMware, Inc. (NYSE:VMW) Given Its Attractive Financial Prospects?
VMware (NYSE:VMW) has had a rough three months with its share price down 8.2%. However, a closer look at its sound...

Yahoo Business
Sep 22, 2020

Could The Market Be Wrong About Visa Inc. (NYSE:V) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at Visa's (NYSE:V) recent performance, when its stock has declined 3.9% over...

Yahoo Business
Sep 22, 2020

Our Take On The Returns On Capital At United Parcel Service (NYSE:UPS)
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world...

Yahoo Business
Sep 22, 2020

Tesla Battery Day: Look Out for the Devil in the Details, Suggests Analyst
Tesla's (TSLA) highly anticipated Battery Day is finally upon us and the excitement is palpable on Wall Street. After market close today, Tesla will host the long-delayed event and looking ahead to the shenanigans, Canaccord analyst Jed Dorsheimer expects there will be "a plenty for everyone."Expounding on this, the analyst said, "Bulls are likely to highlight a 1-million-mile battery or perhaps the CO2 light supply deals. Bears will highlight that TSLA promotions typically fail to materialize, a valid concern, and a shift towards more difficult milestones (SEMI, CyberTruck, and competition). Our take? We think the day will be a trove of tangential ways for investors to capitalize on a shifting market for BEVs."Dorsheimer expects the announcement of "new anode chemistry." Adding to last year's Maxwell acquisition, the analyst anticipates a partnership with a silicon-based solution provider such as Sila Technologies "to gain performance benefits without the swelling."Additionally, Dorsheimer expects a number of shrewd supply agreements "on the cathode side of the equation."More info on battery management, and clarity over concerns of "LFP (lithium iron phosphate batteries) beyond China" could also be on the agenda. However, concerning the latter, per noises from Tesla's direction, it appears unlikely and indicates to Dorsheimer that "the company is worried about competition in Europe."In conclusion, Dorsheimer signs off by sounding a note of caution and believes the "big question will be o

Yahoo Business
Sep 22, 2020

Here's How To Watch Tesla's Battery Day Presentation
The day Tesla Inc. (NASDAQ: TSLA) fans have been waiting for is finally here. CEO Elon Musk has been teasing Battery Day over the past year, and has only been hyping it more in recent days.To tune in to get all the latest info, you can watch live here on Tesla's website. The event will take place today, following the company's annual shareholder meeting at 4:30 p.m. ET.Tesla is expected to announce the million-mile battery, that won't need to be replaced for over 1 million miles of driving. Battery cost improvements and energy density improvements are also expected.Musk has also been known to have a "one more thing," and hopes are high today will include this as well.Tesla's stock traded down 5% in Tuesday's session, after Musk said in a tweet late Monday that products revealed today "will not reach serious high-volume production until 2022."Related Links:Tesla Analysts: Battery Day All About Costs, 0 kWh MilestoneElon Musk Says Tesla, Suppliers Put Together Aren't Enough To Fulfill EV Maker's Battery NeedsSee more from Benzinga * Tesla Starts Talks For Research Center In India: Report * Leaked Musk Email Claims Tesla May 'Have A Shot At' Making Record Deliveries * Canadian Driver Accused Of Using Tesla Autopilot While Sleeping(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Yahoo Business
Sep 22, 2020

Tesla's 'Battery Day', what to watch for
Yahoo Finance's Ines Ferre joins the On the Move panel to discuss Tesla's 'Battery Day'.

Yahoo Business
Sep 22, 2020

How Many Starwood Property Trust, Inc. (NYSE:STWD) Shares Did Insiders Buy, In The Last Year?
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...

Yahoo Business
Sep 22, 2020

Exclusive: Wells Fargo CEO ruffles feathers with comments about diverse talent
"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from," Scharf said in the memo, seen by Reuters. Scharf spent more time listening than speaking during the previously unreported 90-minute call which he initiated.

Yahoo Business
Sep 22, 2020

Americans are hoarding trillions of dollars in cash before the presidential election: Morgan Stanley
Cash is king ahead of a highly uncertain presidential election in November, new findings out of Morgan Stanley suggest.

Yahoo Business
Sep 22, 2020

Here's What ReneSola Ltd's (NYSE:SOL) Shareholder Ownership Structure Looks Like
Every investor in ReneSola Ltd (NYSE:SOL) should be aware of the most powerful shareholder groups. Institutions will...

Yahoo Business
Sep 22, 2020

These restaurants have filed for bankruptcy and many more are at risk
Restaurant bankruptcies are starting to pile up.

Yahoo Business
Sep 22, 2020

Imagine Holding Sea (NYSE:SE) Shares While The Price Zoomed 382% Higher
Active investing isn't easy, but for those that do it, the aim is to find the best companies to buy, and to profit...

Yahoo Business
Sep 22, 2020

Why BofA Expects Norwegian, Royal Caribbean To Restart Cruises In Q4, Stage Near-Complete Rebound In 2021
Cruise companies Royal Caribbean Cruises (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) are inching toward a resumption of U.S. services after submitting a joint plan to the Centers for Disease Control, according to BofA Securities. The Cruise Line Analyst: Andrew Didora maintains an Underperform rating on Royal Caribbean with an unchanged $34 price target.The analyst also maintains a Neutral rating on Norwegian Cruise with an unchanged $16 price target.The Cruise Line Takeaways: Royal Caribbean and Norwegian's joint "Healthy Sail Panel" informed the CDC of its new safety standard strategy, marking the first step toward a resumption of U.S. cruises, Didora said in a Tuesday note. The document includes 74 health and safety measures that cover screening, onboard sanitation, destination planning and more, the analyst said.Each consumer will need to confirm a negative COVID-19 test reading that was taken within five days of the cruise's departure, he said. If approved, cruises could sail from the U.S. in an "extremely limited form at some point" in the fourth quarter, Didora said.The momentum should pick up in 2021, and both cruise operators should return to 85% of normal capacity levels by the end of 2021, the analyst said. Occupancy levels were left out of the Healthy Sail Panel's document beyond vague commentary on distancing guests from each other, he said, adding that the two cruise lines will need to submit company-

Yahoo Business
Sep 22, 2020

Why Warren Buffett would say to refinance your mortgage now
The 90-year-old investing guru is taking advantage of low interest rates. You should, too.

Yahoo Business
Sep 22, 2020

Labor Department proposes definition for independent contractors for the first time ever
The U.S. Department of Labor on Tuesday announced a proposed rule that would change the federal government's test used to determine whether workers are employees or independent contractors under the Fair Labor Standards Act.

Yahoo Business
Sep 22, 2020

Have Insiders Been Buying Kohl's Corporation (NYSE:KSS) Shares?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...

Yahoo Business
Sep 22, 2020

Keefe Cuts Progressive To Sell On Valuation
Keefe Bruyette downgraded Progressive stock to Sell from Hold, citing "near-record valuation gap" versus insurance peer Allstate.Keefe Bruyette analyst Meyer Shields said that Progressive (PGR) trades at about 17.6 times the Street's 2021 estimated earnings, which is 223% higher than Allstate's price-to-earnings multiple of 7.9 times. Progressive's earnings multiple is also 157% higher than the 10-year average relative multiple, said the analyst. Shields still maintained a price target of $87 (10.6% downside potential) on the stock.The analyst added that the current valuation gap overestimates Progressive's 2021 earnings potential as the company lowers personal auto rates. In addition, the valuation gap underestimates the strategic benefits of Allstate's increasing focus on the independent agency channel.Last week, Progressive reported a steep increase of 179% in August earnings per share of $0.83 on a year-over-year basis. The insurance company recorded net premiums written of $3.4 billion in the month, up 18%, while net premiums earned grew 11% on a year-over-year to about $3.1 billion. (See PGR stock analysis on TipRanks)Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 7 Buys, 3 Holds, and 1 Sell. The average price target of $98.18 implies that the shares are fully priced at current levels. Shares have gained 34.5% on a year-to-date basis.Related News: Progressive Sees EPS Spike 111% In July Cubic Adopts Poison Pill As Elliott Pursues Takeover Bid PagerDuty To

Yahoo Business
Sep 22, 2020

Nikola without Trevor Milton 'changes the story': Dan Ives
Yahoo Finance's Alexis Christoforous, Brian Sozzi, and Dan Ives of Wedbush Securities discuss Tesla's Battery Day, and the fraud allegations against Nikola Founder Trevor Milton.

Yahoo Business
Sep 22, 2020

Tesla Falls on Musk Cautioning Battery Output Is Years Away
(Bloomberg) -- Elon Musk cautioned Tesla Inc. will unveil something that won't be widely produced for two years, tempering expectations for the company's long-awaited battery day.Tesla shares fell as much as 6% and were down 5.2% at $425.97 as of 9:50 a.m. in New York. The pull-back comes after massive gains in recent months fueled in part by anticipation of Tuesday's event. Musk said the information he'll announce will affect production of Tesla's Semi, Cybertruck and Roadster models, all of which have been unveiled in the form of prototypes but are still in development.In another tweet, Musk warned of the "extreme difficulty" of scaling up production of new technology. It was the latest in a series of posts that were more measured about the much-hyped event the chief executive officer had previously talked up. The company's shareholder meeting and subsequent battery briefing get underway starting at 1:30 p.m. local time in California.Musk said in another tweet that Tesla will need to start producing its own battery cells to support its various products, even as it ramps up purchases from outside suppliers. He wrote that the company expects there to be significant shortages of cells in 2022 and beyond unless it ramps up output of its own.Tesla's most important and longstanding partner on batteries is Osaka-based Panasonic Corp. The two companies jointly operate a massive plant outside of Reno, Nevada, where Panasonic makes the cells and Tesla manufactures battery packs for its cars.But Musk has never been k

Yahoo Business
Sep 22, 2020

U.S., China power struggle impacts TikTok deal with Oracle, Walmart
Yahoo Finance's Tech Editor Dan Howley joins Yahoo Finance's The First Trade with Alexis Christoforous and Brian Sozzi to discuss the latest developments surrounding TikTok.

Yahoo Business
Sep 22, 2020

Barstool App Breaks DraftKings Download Record, Analyst Says
(Bloomberg) -- Penn National Gaming Inc. shares rose as much as 4.5% in early trading Tuesday after Morgan Stanley said Penn's minority owned Barstool Sportsbook betting app achieved a record 21,000 downloads per day in its first weekend, breaking DraftKings Inc.'s and Flutter Entertainment Plc's FanDuel's daily records.Preliminary data from market intelligence firm Sensor Tower show Barstool sportsbook app, which soft launched in Pennsylvania on Sept. 15, had 63,000 downloads in its first weekend, analyst Thomas Allen wrote in a note.That compares to DraftKing's sportsbook downloads of just 4,000 during its opening weekend in New Jersey in Aug. 2018 and its single-day record download of 15,000 on Sept. 10, this year's NFL season opener. Barstool's weekend and single-day performance also topped FanDuel's inaugural weekend launch downloads of 9,000 over the 2018 NFL opening weekend and its single-day download record of 19,000 on Sunday, Sept. 13, Allen noted.Barstool's app downloads have started out "extremely strong," yet competitor downloads didn't seem to "slow meaningfully," the analyst said. Based on the weekend's download data, Allen believes Barstool is "expanding the market rather than cannibalizing" it, which is a bullish sign for the sector, he said.Allen downgraded both Penn National and DraftKings last month to equal-weight from overweight, citing valuation after both stocks had skyrocketed this year. In April, DraftKings began trading as a public company after a reverse merger with Diamond

Yahoo Business
Sep 22, 2020

Goldman Sachs: These 3 Stocks Are Poised to Surge by at Least 50%
Is it time for the bears to break out the champagne glasses? Not so fast, says Goldman Sachs. Volatility has ruled the Street for the last few weeks, leading some to conclude that those with a more pessimistic outlook had been vindicated, but the firm believes stocks can still climb higher.According to Goldman Sachs' head of U.S. equity strategy, David Kostin, the S&P 500 could still hit 3,600 by the end of the year, and 3,800 by mid-2021, on the back of vaccine-related optimism and progress with the economic reopening. This would reflect gains of 10% and 16%, respectively, should the index ultimately reach these targets."Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months. The Superforecaster probability of a mass-distributed vaccine by Q1 2021 has surged to nearly 70% and economic data show a continuing recovery," Kostin wrote in a recent note. On top of this, the strategist argues the vaccine's arrival will push U.S. GDP growth to 6%, compared to the 3.9% consensus estimate.Given Kostin's outlook, we wanted to check out three stocks scoring major praise from Goldman Sachs. Not only have they been given a Buy rating, but the firm's analysts also see at least 50% upside potential on tap for each. Using TipRanks' database, we found out that all three tickers have gotten a thumbs up from analysts at other firms as well. Let's take a closer look.Intellia Therapeutics (NTLA)Focused on utilizing gene editing to develop cell therapies

Yahoo Business
Sep 22, 2020

EUR/USD Price Forecast - Euro Hanging Onto Support
The Euro has fallen on Tuesday, reaching down towards the 50 day EMA. By doing so, the market looks very likely to try to make a stand here.

Yahoo Business
Sep 22, 2020

A Look At FireEye's (NASDAQ:FEYE) CEO Remuneration
Kevin Mandia has been the CEO of FireEye, Inc. (NASDAQ:FEYE) since 2016, and this article will examine the executive's...

Yahoo Business
Sep 22, 2020

Inter Pipeline Enters Agreement to Sell Majority of its European Storage Business
CALGARY, AB, Sept. 22, 2020 /CNW/ - Inter Pipeline Ltd.

Yahoo Business
Sep 22, 2020

Genocea Up 5% On FDA Nod For Cancer Therapy Application; Street Sees 353% Upside
Genocea Biosciences announced that the US Food and Drug Administration (FDA) has accepted the Investigational New Drug (IND) application for its GEN-011 cancer immunotherapy, sending shares up 5% in Tuesday's pre-market session.Genocea (GNCA), which is developing next-generation neoantigen immunotherapies in multiple tumor types, said that following the IND acceptance, it will initiate a Phase 1/2a clinical study of GEN-011 in patients who have failed standard-of-care checkpoint inhibitor therapy. The trial will evaluate safety, T cell proliferation and persistence as well as clinical activity.GEN-011 is an adoptive T cell therapy targeting neoantigens and is designed to improve upon the limitations of tumor-infiltrating lymphocytes (TIL) and T-cell receptors (TCR) therapies."GEN-011 builds on the power of our ATLAS platform, as demonstrated in our GEN-009 clinical trial, to identify the relevant neoantigens which drive robust anti-tumor T cell responses in patients," said Genocea CEO Chip Clark. "Using a patient's peripheral T cells, already programmed to kill cancer cells with relevant neoantigens, enables this non-engineered therapy to rapidly scale. We therefore believe GEN-011 may eventually offer efficacy, accessibility and cost advantages to patients and providers."Genocea plans to enroll up to 24 patients across several tumor types in the Phase 1/2 trial. In one cohort, patients will receive multiple low doses of GEN-011 with low-dose IL-2 and without lymphodepletio

Yahoo Business
Sep 22, 2020

Khiron Declared a National Strategic Project by the Government of Colombia
), for the domestic market of Colombia and for export of finished products * Certification demonstrates not only the Government of Colombia's commitment to the medical cannabis industry in Colombia, but also its support of Khiron's business plan to create value added products in the medical and CPG cannabis industry for domestic market and for export * Khiron is one of three companies to obtain this status, placing the Company at the forefront of the industry in ColombiaTORONTO, Sept. 22, 2020 /CNW/ - Khiron Life Sciences Corp.

Yahoo Business
Sep 22, 2020

GameStop Rises on Investor's Plan to Make It an Amazon Rival
(Bloomberg) -- Ryan Cohen, the entrepreneur who built Chewy.com into a pet-supply giant and sold it for more than $3 billion, is now pitching GameStop Corp. on a lofty goal: becoming a true competitor to Amazon.com Inc., according to a person familiar with the matter.The video-game retailer's shares jumped as much as 28% in premarket trading Tuesday, after Bloomberg News reported Cohen's plans late Monday.After acquiring a nearly 10% stake in GameStop -- making him the company's biggest individual investor -- Cohen disclosed on Monday that he is holding talks with management and several board members. Cohen's firm, RC Ventures, has expressed willingness to get more involved with the company in order "to produce the best results for all shareholders," according to a filing.Cohen's vision, which isn't yet public, is to broaden GameStop's online selection and compete head-to-head with some of the biggest e-commerce companies, according to the person. Rather than just offering video games and a smattering of toys, clothing and accessories, GameStop's website would sell a wide range of merchandise and ship it to customers more quickly -- a key strength of Amazon.Of course, challenging Amazon directly would be an uphill fight. Despite relentless competition from traditional retailers and startups, Amazon has only increased its share of the e-commerce industry, and that trend is expected to continue, according to EMarketer Inc.Amazon has a market valuation of almost $1.5 trillion, compared with $570 million fo

Yahoo Business
Sep 22, 2020

Here's How Much Investing $1,000 In Oracle Stock In 2010 Would Be Worth Today
Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Oracle's Difficult Decade: One poor performer of the last decade was cloud service stock Oracle Corporation (NYSE: ORCL).Oracle spent much of the past decade transitioning away from its legacy businesses of on-premise database services, hardware and business software to a new cloud services-centric model.In 2016, Oracle paid $9.3 billion for cloud pioneer NetSuite. Unfortunately, Oracle's major investments in cloud services aren't generating the type of growth investors had hoped. Revenue was flat on a constant-currency basis in fiscal 2020. Cloud license revenue and on-premise license revenues have been particularly weak in recent quarters.TikTok Drama: The good news for Oracle investors is that the company has made two potentially game-changing deals during the COVID-19 pandemic. First, Oracle landed Zoom Video Communications Inc (NASDAQ: ZM) as a cloud customer earlier this year. Second, Oracle emerged as a winner from a messy bidding war among American companies to partner with popular social media app TikTok.When Chinese TikTok parent company ByteDance rejected a buyout offer from Microsoft Corporation (NASDAQ: MSFT) and Walmart Inc (NYSE: WMT), Oracle swooped in to secure a deal to become TikTok's "technology partner." As part of the deal, Or

Yahoo Business
Sep 22, 2020

Curaleaf's Select Brand Expands Into New York
America's 1 Cannabis Brand Now Available in 13 States NationwideWAKEFIELD, Mass., Sept.

Yahoo Business
Sep 22, 2020

Intel Receives US licenses To Supply Huawei - Report
Intel Corp has been granted licences from US authorities to continue supplying certain products to Huawei Technologies, even as US-China relations are at their worst in decades, Reuters reported citing an Intel spokesman.Intel (INTC) received the US government's approval after new restrictions effective from Sept. 15 have barred US companies from supplying or servicing Huawei.In addition, the Trump administration has been asking governments around to world to join the action to squeeze out Huawei, according to the report. The US is fearing that the telecoms giant would provide data to the Chinese government for espionage. In addition, the US is concerned that 5G dominance would give China an advantage Washington may not be ready to cope with.This news was first published this week by state-backed China Securities Journal, which said Intel had received permission to supply Huawei.Last week China's Semiconductor Manufacturing International Corporation confirmed it had also sought permission to continue servicing Huawei, according to Reuters. SMIC uses US-origin equipment to make chips for Huawei and other companies.South Korean chipmaker SK Hynix also asked for US licence for Huawei sales, but it has not gained approval, Reuters said.With US restrictions in place, non-U.S. firms are unlikely to receive US approval, and as a result, chipmakers are working on contingency plans to divert supplies to other customers.In August, Taiwanese chip designer MediaTek Inc disclosed it had applied to the US government for permission to

Yahoo Business
Sep 22, 2020

The United States Air Force Chooses BlackBerry Spark for Secure Productivity
WATERLOO, ON, Sept. 22, 2020 /CNW/ -- BlackBerry Limited (NYSE: BB; TSX: BB) announced today that the United States Air Force has selected BlackBerry Spark® for their secure productivity needs.

Yahoo Business
Sep 22, 2020

Taseko Mines: Florence Copper Permitting Update
VANCOUVER, BC, Sept. 22, 2020 /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that its Florence Copper Project received overwhelming support at the public hearing held by the Arizona Department of Environmental Quality ("ADEQ").

Yahoo Business
Sep 22, 2020

Stock market news live updates: Stock futures struggle for direction as equities pause after losing streak
Stock futures were mixed Tuesday on the heels of another sharply negative day for US equities. The S&P 500 closed out Monday's regular session lower for a fourth straight day, marking its longest losing streak since February.

Yahoo Business
Sep 22, 2020

Does BioCryst Pharmaceuticals (NASDAQ:BCRX) Have A Healthy Balance Sheet?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Yahoo Business
Sep 22, 2020

We Think Atara Biotherapeutics (NASDAQ:ATRA) Needs To Drive Business Growth Carefully
Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...

Yahoo Business
Sep 22, 2020

Cubic Adopts Poison Pill As Elliott Pursues Takeover Bid
Cubic Corp. said it will adopt a temporary shareholder rights plan, also known as a "poison pill" after Paul Singer-led hedge fund firm Elliott Management showed interest in a takeover bid. Shares of the defense and transportation systems provider were down 1.3% in Tuesday's pre-market trading session after popping 34% yesterday.Cubic (CUB) on Monday disclosed that Elliott Management had approached the company to buy a 15% interest. The hedge fund manager has partnered with an undisclosed private equity firm to pursue the interest and plans to buy the rest of Cubic's outstanding shares.Cubic said, "The adoption of the Rights Plan is intended to provide the Board with time to make informed decisions and prevent any third party from obtaining control of Cubic in a manner and at a price that are not in the best interests of Cubic's shareholders." According to the rights plan, shareholders will get one right for each common stock held. The rights plan will expire on September 19 and the record date for the distribution is set on October 1. (See CUB stock analysis on TipRanks).Citigroup analyst Jonathan Raviv said on September 21 that Elliott Management's acquisition interest is supportive of the company's defense and transport business portfolio. Raviv raised the stock's price target to $60 (0.7% upside potential) from $50 and reiterated a Buy rating.Currently, the Street is bullish on the stock. The Strong Buy analyst consensus is based on 6 Buys and 1 Hold. With shares down nearly 6.3% year-to-date, the average pri

Yahoo Business
Sep 22, 2020

Bausch Health And Alfasigma Announce Resolution Of XIFAXAN® Intellectual Property Litigation
Salix Will Maintain Market Exclusivity for XIFAXAN® (rifaximin) 200 mg and 550 mg Tablets Until 20281LAVAL, QC, Sept. 22, 2020 /CNW/ -- Bausch Health Companies Inc.

Yahoo Business
Sep 22, 2020

Neptune Wellness Enters Strategic Distribution Partnership with Global CPG Company
Partnership to expand distribution relationships to also bring Neptune branded products to marketLAVAL, QC, Sept. 22, 2020 /CNW/ - Neptune Wellness Solutions, Inc.

Yahoo Business
Sep 22, 2020

Tens of thousands to lose jobs without airline stimulus from Congress
Time is running out for Congress to pass a new economic stimulus plan that will help airlines avoid massive layoffs as the coronavirus pandemic continues to cripple the industry.

Yahoo Business
Sep 22, 2020

Tesla warns on challenges of scaling up production
Tesla Chief Executive Elon Musk warned on Tuesday about the difficulties of speeding up production as an expert cautioned the carmaker's increased reliance on large-scale aluminium parts could bring new manufacturing challenges. While carmakers such as Mercedes-Benz have said automation has limitations, Musk has pressed on with plans to create a hyper-automated factory, which he refers to as the "alien dreadnought", or "the machine that builds the machine". Musk's warning comes ahead of a "battery day" later on Tuesday, when Tesla is expected to unveil steps to boost battery production.

Yahoo Business
Sep 22, 2020

The stock market's earnings problem: Morning Brief
Top news and what to watch in the markets on Tuesday, September 22, 2020.

Yahoo Business
Sep 22, 2020

ImagineAR is Presenting at Wall Street Reporter's "NEXT SUPER STOCK" & Livestream Conference on September 24th, 2020
VANCOUVER, BC AND ERIE, PA, Sept. 22, 2020 /CNW/ - Imagine AR Inc.

Yahoo Business
Sep 22, 2020

A Note On JinkoSolar Holding Co., Ltd.'s (NYSE:JKS) ROE and Debt To Equity
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...

Yahoo Business
Sep 22, 2020

How Diligent Was GM About Its Deal With Nikola?
(Bloomberg Opinion) -- General Motors Co. is a storied corporation employing many experienced managers, lawyers, accountants, analysts, engineers and, of course, Mary Barra, a gifted chief executive officer.So how did it come to pass that all those smart people either didn't foresee or more properly brace themselves for the clown rodeo now swamping its partnership with Nikola Corp.? More to the point, might it have been wiser for GM to have avoided hitching its wagon to Nikola in the first place?Barra told investors on a conference call last week that GM conducted "appropriate diligence" before entering into a high-profile partnership with Phoenix-based Nikola, a three-year-old publicly traded startup that hopes to mass-produce zero-emission trucks running on hydrogen fuel cells and rechargeable batteries. To my ear, "appropriate diligence" is to "due diligence" as "half-baked" is to "fully cooked," but maybe I'm nitpicking.GM declined to offer details about how appropriate its diligence was other than saying it involved a "thorough review of business, legal and technical matters" at Nikola. But Barra was on the call last week because a short seller, Hindenburg Research, had published a report a few days earlier contending that Nikola was "an intricate fraud built on dozens of lies." Hindenburg's diligence was clearly different from GM's.Wall Street tends to look down on short sellers because they make money when the shares of high-flying companies take a hit, and to that end they often traffic in naysaying, gossip and conspiracy theories

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Sep 22, 2020

Elon Musk expected to use Tesla 'Battery Day' to argue for the end of combustion engines
BofA Securities is out with an early, positive reaction to the Barstool Sportsbook app after its opening weekend in Pennsylvania.The Penn National Analyst: Shaun Kelley reiterated a Buy rating on Penn National Gaming (NASDAQ: PENN) and raised the price target from $59.75 to $85.Barstool Sportsbook: The Barstool Sportsbook app was the No. 1 sports betting app and the No. 1 sports app in the Apple Inc. (NASDAQ: AAPL) App Store during the company's weekend launch. Barstool founder Dave Portnoy took to Twitter to show off the No. 1 spot for the app."Our initial impressions are positive given the app's ease of use and leverage of the Barstool brand to create a unique interactive experience," BofA's Kelley said in a Monday note. "We think the app targets more of a casual bettor than competitors."In its first two days of availability, the Barstool Sports app was downloaded 29,000 times. That is four times higher than the number of downloads that FanDuel and DraftKings Inc (NASDAQ: DKNG) saw after their launch, the analyst said. The Barstool Sportsbook app was downloaded 23,000 times on Saturday, which is higher than any single day for rivals FanDuel and DraftKings, he said. The app maintains a 4.9-star rating, making it the top-rated sportsbook."Penn's ability to drive conversion from downloads to deposits and deposits to bets/revenue is the next critical step," Kelley said.BofA's Penn National Price Target: The increased price target comes from the initial success of the Barstool app and the ri

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Sep 22, 2020

HPE Completes $925M Silver Peak Deal As Street Remains Sidelined
Hewlett Packard Enterprise announced the completion of its acquisition of Silver Peak, a software-defined wide area network (SD-WAN) company, in a transaction valued at $925 millionHPE (HPE) said that Silver Peak will become part of Aruba, which is one of its business units. More specifically, the deal will complement Aruba ESP (edge services platform) and help accelerate enterprise cloud transformation. The combination seeks to create a comprehensive edge-to-cloud networking solution covering all aspects of wired, wireless local area networking (LAN) and wide area networking (WAN).The acquisition is poised to drive "significant" revenue opportunities which will be accretive to its intelligent edge segment revenue growth and gross margin, the company said. It expects the transaction to be neutral to non-GAAP EPS in FY22. The company will discuss how the integration of Silver Peak will create value and enhance growth and profitability on October 15, it said. "WAN transformation is a key component of HPE's Intelligent Edge and edge-to-cloud vision and growth strategy," said Antonio Neri CEO of HPE. "Armed with a comprehensive SD-WAN portfolio with the addition of Silver Peak, we will accelerate the delivery of a true distributed cloud model and cloud experience for all apps and data wherever they live."HPE added that the hybrid workplace trend boosts the need for enterprises to extend connectivity to branch locations and to make work-from-home experiences more secure. Enterprises are increasingly inve

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Sep 22, 2020

U.K. Power Price Spike Raises Questions for National Grid
(Bloomberg) -- A spike in electricity prices last week in the U.K. is raising questions about how well the network operator is balancing the grid and at what cost to consumers.Electricity prices surged to more than 10 times the average following a market warning from National Grid Plc on Sept. 15. The network manager said calm weather and warm temperatures were set to lower the supply buffer it keeps to ensure there's enough power in the system. At the same time, the company was paying a nuclear station not to generate.The incident is threatening to elevate the highly technical practices of grid managers into a political issue. Some analysis suggest National Grid made mistakes in the process that could lead to higher bills for consumers.The contract with EDF was "a particularly clunky way of dealing with variable demand," Alan Whitehead, the opposition Labour Party's shadow minister for energy and climate change, said in an interview. "What has undone them is that demand has bounced back much more quickly than they thought."Analysis by trading house, Hartree Solutions, show that halting one unit of Electricite de France SA's Sizewell B nuclear reactor, added 73 million pounds ($94 million) to wholesale power prices during the 20 weeks of the contract. If the reactor had been generating on Sept. 15, the market warning wouldn't have been needed, the analysis shows.National Grid said its decisions were made to protect the grid from blackouts."We are confident the actions we have taken, including the Sizewell contract,

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Sep 22, 2020

Coca-Cola's First Alcoholic Drink Since The 80s To Debut Early Next Year: CEO
During a discussion with Mad Money show host Jim Cramer, Chief Executive Officer of Coca-Cola Co (NYSE: KO) James Quincey cleared the air about its new product. Quincey clarified that the company's Hard Seltzer drink is estimated to be released sometime in the first half of 2021.The company has been entirely engaged in non-alcoholic beverage concentrates and syrups in the last four decades and this would be its first attempt to create a product line of Hard Seltzers in the United States since the early 80s.What Happened: Coca-Cola plans to launch its alcoholic beverage under its Topo Chico brand. According to CNBC, the initial launch will be made in Mexico, followed by the U.S. launch.The Brazil launch is expected sometime later this month. In 2018, Coca-Cola also launched Lemon-Do - and alcoholic drink in Japan.In 2017, Coco-Cola acquired the Mexican company Topo Chico for $220 million.Why Does It Matter: CNBC cited research by Bump Williams Consulting Co., which estimated a Hard Seltzer sales figure of $3 billion in the U.S for the 12 months ended in mid-July.Constellation Brands Inc (NYSE: STZ), which produces Corona beer, also ventured in the fast-growing Hard Seltzer market this year. At the time, Corona Hard Seltzer gained a 6% IRI market share in the U.S. and was ranked as the fourth major player.Price Movement: After a 2.68% drop during trading hours, Coca-Cola marginally rose 0.26% to end the extended trading hours at $49.22.Related Links: Pepsi Launches A Sleep Beverage: What

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Sep 22, 2020

Synchronoss Sinks 7% As CEO Out For ‘Personal Misconduct'; Analyst Sees 200% Upside
Shares in Synchronoss Technologies plunged 6.5% in Monday's extended market session after the cloud products company disclosed that its CEO resigned over allegations of "personal misconduct".Synchronoss (SNCR) announced that its Board of Directors has appointed Jeff Miller as interim President and CEO, effective immediately, in addition to his role as Chief Commercial Officer. The move comes after Glenn Lurie resigned as CEO following the Board of Directors' review of allegations of "personal misconduct", which were in violation of the company's policies.Synchronoss added that the resignation is not tied to the company's strategy, financial or business performance. Following the appointment, the Board of Directors will now conduct an executive search to pick a new CEO."Synchronoss continues to develop innovative technology and solutions for some of the world's leading technology and telecommunications companies," Synchronoss founder Stephen Waldis said. "The Board and I look forward to working with Jeff and the broader Synchronoss management team to drive forward the ongoing transformation of Synchronoss, building on the strength of our customer relationships, and delivering long-term value to our shareholders."The company confirmed that it is maintaining its 2020 guidance on EBITDA of $20 million to $25 million, as guided in its second quarter earnings release dated on August 10. Additional details relating to its financial performance and business outlook wi

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Sep 22, 2020

Gold drops as dollar surges to six-week high
U.S. gold futures were down 0.5% at $1,900.20 on Tuesday. "Resurfacing of the coronavirus and the fear that European countries will again go into lockdowns are triggering safe-haven buying in the dollar index and because of that we have seen correction in the gold prices," said Vandana Bharti, assistant vice-president of commodity research at SMC Comtrade.

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Sep 22, 2020

Trade Alert: The Independent Non-Executive Director Of Network International Holdings plc (LON:NETW), Victoria Hull, Has Just Spent US$149k Buying A Few More Shares
Potential Network International Holdings plc (LON:NETW) shareholders may wish to note that the Independent...

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Sep 22, 2020

Intel Gets US License To Continue Supplying To Huawei
Intel Corporation (NASDAQ: INTC) has received the federal government nod to keep supplying Huawei Technologies with certain products, Reuters reported Tuesday.What Happened: The Santa Clara, California-based chipmaker has received the relevant licenses from the United States authorities to supply Huawei even amid U.S.-China relations reached their lowest in recent times, according to the state-backed China Securities Journal, Reuters noted.Last week, China's Semiconductor Manufacturing International Corporation, a company that uses U.S. origin equipment to make chips, had reportedly applied for permission to supply to Huawei.Why It Matters: Since Sept. 15, new restrictions have been in place that forbid U.S. companies from either supplying products or providing services to Huawei, Reuters noted.The U.S. has expressed concerns that China's 5G technology could give it an edge over it.Gary Mobley, an analyst that focuses on Qualcomm, Inc (NASDAQ: QCOM), said that the restrictions put in place on Huawei by the U.S. Commerce Department could directly or indirectly help the San Diego-based tech company.Price Action: Intel shares closed nearly 0.3% lower at $49.72 on Monday and gained 0.5% in the after-hours session. Photo courtesy: sixflashphoto via WikimediaSee more from Benzinga * Nvidia Confirms B Cash, Stock Deal To Acquire SoftBank Chipmaker Arm * Amazon, Verizon Look To Join Facebook, Google, Intel In Indian Telco Frenzy With B Investment: Report * Arm Cancels Plan To Spin off Internet Of Things Units To Parent SoftBank(C) 2020 Ben

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Sep 22, 2020

JPMorgan Rows Back on Fear That All Markets Are ‘Japanizing'
(Bloomberg) -- While the threat of Japanification hangs over some of the world's biggest markets, there's little chance of it happening in the U.S., according to analysis by JPMorgan Chase & Co.Unlike the U.K. and euro area, America is still far away from the chronic forces that have characterized Japanese markets during the past several decades, the New York-based bank said in a note dated Sept. 18. The catalysts are the ultra-loose monetary policies, yet they're affecting some markets less than others.The Federal Reserve's ability to complete a hiking cycle after the great financial crisis built conviction that the U.S. is still some way off from rates that stay low indefinitely, according to the analysis. JPMorgan modeled various bond yield curves across the world, taking into account where the lower bound for interest rates were in each region and their future prospects, and compared them to Japan's."Taking policy rates to zero with strong forward guidance is only a necessary condition in the road to Japanization of the yield curve," wrote strategists Fabio Bassi and Antoine Gaveau in a note to clients. The U.S. "is furthest away as the market attributes maximum credibility to the Fed in its reflationary exercise," they said.One of the characteristics of Japanification is that central banks become an increasingly dominant player. In Japan, there have been days where not a single government bond has traded, and monetary institutions elsewhere are also buying up bigger shares of the market. The Eur

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Sep 22, 2020

Namaste Technologies in Collaboration with High Tide Announces Entrance into the Direct-to-Consumer Recreational Cannabis Market at CannMart.com using its Proprietary VendorLink Marketplace
As of today, starting in the province of Saskatchewan, recreational customers can purchase cannabis products at CannMart.com without a prescription.

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Sep 22, 2020

General Electric Plans To Cease Making Coal Power Plants; Shares Drop 8%
General Electric announced plans to cease making coal-fired power plants to focus on its core renewable energy and power generation businesses. The stock dropped almost 8% on Monday.General Electric (GE) said the exit from its steam power business may include divestitures, site closings, job cuts and other considerations for publicly held subsidiaries. At the same the company committed to work with customers on current obligations as it pursues the exit.The exit is part of GE's strategy to invest in its core renewable energy generation businesses, and to make electricity more affordable, reliable, accessible, and sustainable. However, GE steam power will continue to deliver turbine islands for the nuclear market and service existing nuclear and coal power plants."With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory," said GE's Russell Stokes. "As we pursue this exit from the new build coal power market, we will continue to support our customers, helping them to keep their existing plants running in a cost-effective and efficient way with best-in-class technology and service expertise."Last week GE's CEO Larry Culp disclosed that he expects to see positive industrial free cash flow (FCF) in the second half of 2020. In addition, the company is making "good progress" in reducing costs by $2 billion and generating cash savings of $3 billion to cope with the coronavirus pandemic, Culp said.Follow

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Sep 22, 2020

Nvidia Issues Mea Culpa Over Bungled GeForce RTX 3080 Launch
Nvidia (NVDA) has apologized to customers following the hotly-anticipated launch of its GeForce RTX 3080 launch last week.NVDA called the launch "simultaneously the best GPU launch ever and the most frustrating" after the GeForce RTX 3080 sold out almost instantly."We expected the best ever demand for the RTX 30-series, but the enthusiasm was overwhelming. We were not prepared for this level, nor were our partners. We apologize for this" it wrote on September 21.Indeed, the Nvidia store was inundated with over 10 times the traffic of its previous generation launch, the chip maker revealed."The reception to our NVIDIA Ampere architecture GPUs has been off the charts and driven interest to heights we've never previously experienced. A few examples compared to our previous launch -  4 times the unique visitors to our website, 10 times the peak web requests per second, and more than 15 times the out clicks to partner pages" it said.Over 50 major global retailers had inventory on the day of launch- but the extent of the traffic caused crashes, delays and other issues for customers.According to Nvidia, the GeForce RTX 3080 is still in full production, and it has now been increasing the supply weekly. Partners are also ramping up capacity to meet the unprecedented demand, says NVDA.Nvidia also revealed that its store was overrun with malicious bots and resellers- and in response it has made several changes, including moving the store to a dedicated environment, with increased capacity and more bot protection. It als

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Sep 22, 2020

What Investors With $3.4 Trillion Are Buying During Covid
(Bloomberg) -- Hotels, pipelines, convenience stores and automaker bonds are among the assets being bought by some of the world's biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.In interviews with sovereign wealth funds, pension firms and asset managers across Asia and Europe that collectively manage about $3.4 trillion, one thing was clear: many of them are avoiding the overheated stock market.The most common outlook was one of caution. They are mindful that much of the rebound in markets and private-company valuations is thanks to ultra-low interest rates, massive central bank stimulus and government fiscal support, some of which could start to be wound back in coming months.With asset values still seen as inflated, even in some hot areas like healthcare and technology, many are waiting for a potential second downturn after stimulus measures end but before mass vaccinations enable economies to restart without risking widespread infection.Here's what they had to say:Convenience Stores, PipelinesGIC Pte, Singapore's sovereign wealth fund, is looking at "less loved" areas from retailing to infrastructure, whose valuations have been pummeled by the pandemic, Chief Executive Officer Lim Chow Kiat said when the firm released its annual review in late July.The fund only officially discloses it manages more than $100 billion but has more like $450 billion, according to the Sovereign Wealth Fund Institute, making it the sixth-biggest in the world.In two of its large

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Sep 22, 2020

Chewy's Ryan Cohen Sees GameStop Rivaling Amazon Long-Term
GameStop Corp (NYSE: GME) could be extending its e-commerce line beyond video games and related consumer electronics products if a plan put in motion by its largest individual investor is realized.What Happened: RC Ventures founder Ryan Cohen is in talks with the company management to poise itself as Amazon Inc's (NASDAQ: AMZN) rival in the e-commerce space, according to Bloomberg.Cohen holds about shares 10% in the video game company, making him the largest individual investor in the gaming company. Whereas BlackRock Institutional Trust Company (NYSE: BLK) and Fidelity Management & Research Company LLC are the leading institutional investors holding 15.31% and 14.72%, respectively.Although Cohen's plans are not yet made public, Bloomberg learned that the billionaire entrepreneur wants to expand GameStop's online retail business. It may also expand into the logistics of shipping its products directly to customers.In early September, CNN reported that the consumer electronics retailer is in plans to close around 400 to 450 stores worldwide this year.Why Does It Matter: Cohen may be trying to save GameStop from a fate similar to Blockbuster Video, Bloomberg noted. Blockbuster Video lost out on business with the growing popularity of the online streaming giant Netflix Inc (NASDAQ: NFLX). Cohen's experience in the e-commerce sector goes far back, as he started Chewy Inc. (NYSE: CHWY) in 2011. After six years of operations, Chewy's business was acquired by PetSmart for over $3 billion. Currently, the Florida-based company h

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Sep 22, 2020

Brexit and COVID-19 - The Pound Sits in the Hands of Parliament…
It's all eyes on the UK's Parliament and the Pound today. A government statement on COVID-19 proceeds the MP debate on the Internal Market Bill…

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Sep 22, 2020

COVID-19 vaccine verdicts loom as next big market risk
Optimism that vaccines are on the way to end the coronavirus pandemic has been a major factor in this year's U.S. stock resurgence. A UBS analysis found that about 40% of the market's gains since May can be pegged to hopes for vaccines to protect against COVID-19, which has killed over 960,000 worldwide and rocked the global economy. Global efforts to develop a vaccine are coming to a head, with late-stage data on trials by companies such as Pfizer Inc and Moderna Inc possible as soon as October or November.

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Sep 22, 2020

Tim Cook Talks Apple Antitrust Probe, Remote Work, Relationship With Trump
Apple Inc (NASDAQ: AAPL) CEO Tim Cook in an interview with the Atlantic on Monday discussed several events surrounding the consumer electronics company of late.Apple All For Antitrust Probe: Cook suggested that he doesn't find the lawmakers' probe into antitrust allegations against Apple at all problematic."I think that big companies deserve scrutiny. And I think that's not only fair but important for the system that we have in America," he said, in response to a question on whether he was "bothered" by being asked to testify before the Congress alongside Facebook Inc (NASDAQ: FB) CEO Mark Zuckerberg."There is no monopoly here," he told the Atlantic. There are "basically street fights" for market share, according to Cook, who claims Apple's strategy to make the best products available means it can't be termed a monopoly. "Somebody will choose a commodity product and there are enough people that buy the commodity product that it will have more share. That's true in all of the different fields we're in," the billionaire added.Remote Work Has Pros, Cons: As a "vast majority" of Apple employees work from home during the coronavirus pandemic, Cook said the company has found there are advantages to remote work, but Apple still depends on "people kind of running into each other over the course of a day.""We won't return to the way we were because we've found that there are some things that actually work really well virtually," Cook noted, adding that a good number of the workers, including himself,

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Sep 22, 2020

Walmart teams up with Goldman Sachs to offer online sellers business credit lines
Walmart is getting into business lending — with some help from Goldman Sachs.

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Sep 21, 2020

Britain assessing impact of sale of Arm to Nvidia - minister
Britain is assessing the impact of the sale of chip designer Arm to U.S. company Nvidia , including commitments to keep its head office and staff in Cambridge, Eastern England, digital minister Caroline Dinenage said. Nvidia, the biggest U.S. chip company by market capitalisation, has agreed to buy Arm from Japan's SoftBank for $40 billion.

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Sep 21, 2020

China fines Luckin Coffee and linked firms a total of $9 million
China's markets regulator said on Tuesday it has fined a group of 45 firms, including Luckin Coffee, a combined 61 million yuan ($8.98 million) for acts linked to Luckin's falsification of financial records and misleading of the public. China's finance ministry said earlier this year that Luckin booked 2.25 billion yuan of sales through fake coupons from April 2019 to end of 2019. The ministry's investigation also found that Luckin inflated other figures including its revenue, costs and profit in that same period.

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Sep 21, 2020

Elon Musk Says Tesla, Suppliers Put Together Aren't Enough To Fulfill EV Maker's Battery Needs
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk on Monday dashed hopes surrounding the automaker's ability to reach self-sufficiency in batteries until at least 2022.What Happened: Musk said on Twitter that the unveil at the event scheduled for Tuesday would affect long-term production especially of Semi, Cybertruck, and Roadster but "what we announce will not reach serious high-volume production until 2022."The billionaire entrepreneur added that the automaker didn't intend to phase out battery cell purchases from suppliers like Panasonic Corp (OTC: PCRFY), LG Chem Ltd (OTC: LGCLF), or CATL, as has been widely speculated.Instead, Musk estimates that even if the suppliers go at "maximum speed," Tesla would continue to see "significant shortages" in 2022 and the years ahead unless the electric vehicle maker takes initiatives to produce battery cells on its own.Why It Matters: Analysts expect improvement in battery technology or a doubling-down on relationships with existing battery suppliers at the battery day. BofA Securities analyst John Murphy theorized that Tesla has economies of scale and could even supply its batteries to others.Leaked photos of the automaker's latest battery cells show a large diameter, which could increase the volume and capacity of the cells. These new batteries are expected to be easier and less costly to produce.This month, Panasonic said it was expanding its battery manufacturing capacity at Tesla's Nevada Gigafactory by 10%. Another

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Sep 21, 2020

The Math Doesn't Add Up on TikTok's Deal With Oracle and Walmart
(Bloomberg) -- The TikTok sale saga reached an apparent conclusion over the weekend when President Donald Trump approved a deal. The agreement would allow Oracle Corp. and Walmart Inc. to buy a minority stake in a new joint entity, called TikTok Global. "I have given the deal my blessing," Trump said.But the harmony was short-lived. Just one day after Trump promised "no Chinese involvement," TikTok owner Beijing-based ByteDance Ltd. said it would retain 80% control over the new company.By contrast, Oracle said that ByteDance would eventually relinquish its shares. In a statement to the Wall Street Journal, Oracle Executive Vice President Ken Glueck said that once TikTok Global is created, "Americans will be the majority [shareholders] and ByteDance will have no ownership." It's rare for the parties involved in a major deal to disagree so radically on its contours, analysts say.A key reason for the discrepancy lies in differing views over the eventual distribution of TikTok's shares. One statistic that's been touted by both Oracle and Walmart is that American investors will control more than 50% of the new TikTok Global. At first, that sounds like it's at odds with ByteDance's insistence that the company will get a 80% stake.But U.S. citizens own a substantial chunk of ByteDance itself: American investors, including General Atlantic and Coatue control 40% of the Chinese internet giant, people familiar with the matter have said. That means they will in theory own 40% of ByteDance's TikTok stake, too. Combined

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Sep 21, 2020

FED Chair Powell Puts the Dollar in Focus as COVID-19 Continues to Rile the Markets
While COVID-19 and Brexit will continue to influence, FED Chair Powell's testimony on Capitol Hill will draw plenty of attention later today.

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Sep 21, 2020

Apple CEO Impressed by Remote Work, Sees Permanent Changes
(Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook said he's been impressed by employees' ability to operate remotely and predicted that some new work habits will remain after the pandemic.During an interview at The Atlantic Festival on Monday, Cook said Apple created products including new Apple Watches and iPads that are launching on time this year, despite the need for most employees to work away from the office due to Covid-19.Cook said he doesn't believe Apple will "return to the way we were because we've found that there are some things that actually work really well virtually."The comments contrast with the views of other executives, such as Netflix Inc.'s Reed Hastings, who recently called remote work "a pure negative," and Jamie Dimon of JPMorgan Chase & Co., who warned of lasting damage if workers don't get back to the office soon.Cook said 10% to 15% of Apple employees have gone back to the office and he hopes the majority of staff can return to the company's new campus in Silicon Valley sometime next year.The CEO said he goes into the office at different points during the week and he noted that remote work is "not like being together physically." Working in the office sparks creativity such as during impromptu meetings, he added.The Apple executive also said the company focuses on policy and not politics when asked about his discussions with U.S. President Donald Trump.Cook was also asked how long he foresees running the Cupertino, California-technology giant. "We'll see," he said. "A

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Sep 21, 2020

Trump says aides rejected his request to adjust value of dollar
U.S. President Donald Trump on Monday said he was rebuffed when he asked officials to adjust the exchange rate of the dollar to counteract what he described as repeated currency manipulation by China of its yuan. Trump told thousands of supporters at a political rally in Dayton, Ohio, that his policies were saving jobs in the political battleground state after years of inaction to confront China's aggressive behavior in global markets. The Republican president, who is seeking reelection to a second term in the Nov. 3 national poll, repeated his claim - which China denies - that Beijing deliberately changes the value of its currency to gain competitive advantage in global markets.

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Sep 21, 2020

Moderna (MRNA) Stock Still Has Room to Run, Says Analyst
mRNA specialist Moderna (MRNA) is among the leading players in the race to be first to market with a COVID-19 vaccine and the market has been kind in return. Overall, the stock is up 254% year-to-date. According to Needham analyst Alan Carr, the market is not the only space where Moderna is performing well. After attending last week's virtual R&D day, the analyst is encouraged by the progress across the company's clinical programs. Moderna has several vaccines and therapeutics in the pipeline, with a focus on infectious diseases, oncology and rare diseases. The company presented encouraging initial data from its study of investigational cytomegalovirus - the CMV mRNA-1647 Phase 2 trial - and announced plans to develop an mRNA-based seasonal Influenza vaccine.That said, the Moderna story in 2020 is based on the potential of mRNA-1273, its late-stage COVID-19 vaccine candidate.The drug is currently in a Phase 3 trial and the company has enrolled 25,296 subjects out of the overall target of 30,000 subjects. First interim analysis of the trial is expected in November and interim analysis will be conducted at 53 and 106 events, after which a final primary analysis will be held at 151 events.Carr gives mRNA-1273 an 80% probability of success and highlights its differentiating qualities."As a reminder," the analyst said, "The Moderna vaccine has less demanding storage requirements than the Pfizer mRNA vaccine (-20C vs -80C). Moderna plans to distribute the vaccine in 10 x 0.5ml dose vials, with no dilution required... Progres

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Sep 21, 2020

Top GameStop Investor Wants to Turn Retailer Into Amazon Rival
(Bloomberg) -- Ryan Cohen, the entrepreneur who built Chewy.com into a pet-supply giant and sold it for more than $3 billion, is now pitching GameStop Corp. on a lofty goal: becoming a true competitor to Amazon.com Inc., according to a person familiar with the matter.After acquiring a nearly 10% stake in GameStop -- making him the video-game retailer's biggest individual investor -- Cohen disclosed on Monday that he is holding talks with management and several board members. Cohen's firm, RC Ventures, has expressed willingness to get more involved with the company in order "to produce the best results for all shareholders," according to a filing.Cohen's vision, which isn't yet public, is to broaden GameStop's online selection and compete head-to-head with some of the biggest e-commerce companies, according to the person. Rather than just offering video games and a smattering of toys, clothing and accessories, GameStop's website would sell a wide range of merchandise and ship it to customers more quickly -- a key strength of Amazon.Of course, challenging Amazon directly would be an uphill fight. Despite relentless competition from traditional retailers and startups, Amazon has only increased its share of the e-commerce industry, and that trend is expected to continue, according to EMarketer Inc.Amazon has a market valuation of almost $1.5 trillion, compared with $570 million for GameStop.But Cohen does have a track record. He co-founded Chewy and served as its chief executive officer, then sold it in

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Sep 21, 2020

Should you refinance with a 'no closing costs' mortgage?
Refinancing isn't free, but these loans can make the costs easier to swallow.

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Sep 21, 2020

Canopy Growth Announces Results of Annual General and Special Meeting of Shareholders
SMITHS FALLS, ON, Sept. 21, 2020 /CNW/ - Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or "the Company") today announced the voting results from its annual general and special meeting of shareholders held earlier today (the "Meeting").

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Sep 21, 2020

Stock market news live updates: Stock futures slip after volatile session
Stock futures were mixed Monday evening on the heels of another sharply negative day for US equities. The S&P 500 closed out the regular session lower for a fourth straight day, marking its longest losing streak since February.

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Sep 21, 2020

Oppenheimer's Colin Rusch on what he's expecting from Tesla's Battery Day
Colin Rusch, Oppenheimer Sr. Research Analyst, joined The Final Round to discuss what he is expecting out of Tesla's highly anticipated battery day and his outlook for the stock.

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Sep 21, 2020

Carson Block, Wilfred Frost Get Into Heated On-Air Argument About The Merits Of Sell-Side Research
The normally jovial "Closing Bell" broadcast took a heated turn on Monday thanks to a short seller and one of the most controversial stocks of the year.What To Know: Carson Block, founder of Muddy Waters Research, was a guest on CNBC's "Closing Bell" program. The hot topic of the day was Nikola Corporation (NASDAQ: NKLA), the electric truck maker whose stock peaked near $80 a share earlier this year but currently resides under the $28.Nikola's stock fell 19% Monday after founder Trevor Milton stepped down as the company's chairman and board member.The company has been under intense pressure this month following a short-seller report from Hindenburg Research that called the company "an intricate fraud built on dozens of lies." The SEC and Justice Department are currently investigating Nikola.See Also: Analysts React To Trevor Milton's Departure From NikolaWhat Block Said: Block, who doesn't have a short position in Nikola, defended the short report and was "impressed" by Hindenburg's research. With regards to Milton, Block said "even before the resignation this morning, I would say he had no credibility."The conversation then turned over to the fact that some sell-side analysts have come out in defense of Nikola and its stock."Now, what do I make about sell-side analysts?" Block said. "Basically their jobs... they're a highly-paid dating service for institutional investors and the way they really add value to the world is by arranging meetings

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Sep 21, 2020

Biocept's PCR Testing Remains a Key Piece of the COVID-19 Puzzle; Analyst Says ‘Buy'
As the final quarter of 2020 approaches, so does the 2020/2021 flu season. As a result, the demand for COVID-19 testing is only expected to intensify, with those providing solutions set to be rewarded handsomely, according to Wall Street pros.Biocept (BIOC) is among those fighting the good fight against the deadly virus, offering polymerase chain reaction (PCR) tests. These tests are used to directly detect the presence of an antigen, rather than the presence of the body's immune response, or antibodies.On September 16, BIOC announced that it has received more than 35,000 COVID-19 specimens to-date, reflecting a roughly 14,000 increase since the last update on August 31.Weighing in on the development for Maxim is 5-star analyst Jason McCarthy. The analyst argues that given the reimbursement of $100 per test, "Biocept's revenue growth in Q3 2020 should continue and that's assuming the core oncology testing services business is still lagging from COVID impacts."Expounding on the opportunity, the analyst said, "The company also is positioned to continue to capitalize on the current COVID-19 testing paradigm, with 83,000 specimen collection kits assembled to date, and inventory for an additional 87,000. The inventory on hand is particularly important as we head into the 2020/2021 cold/flu season, where we anticipate testing could play a significant role in managing emerging COVID hotspots and existing hotspots with active infections."It should be noted that shares have

Yahoo Business
Sep 21, 2020

Here's What Investors With $3.4 Trillion Are Buying During Covid
(Bloomberg) -- Oil pipelines, hotels, convenience stores and automaker bonds are among the assets being bought by some of the world's biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.In interviews with sovereign wealth funds, pension firms and asset managers across Asia and Europe that collectively manage about $3.4 trillion, one thing was clear: many of them are avoiding the overheated stock market.The most common outlook was one of caution. They are mindful that much of the rebound in markets and private-company valuations is thanks to ultra-low interest rates, massive central bank stimulus and government fiscal support, some of which could start to be wound back in coming months.With asset values still seen as inflated, even in some hot areas like healthcare and technology, many are waiting for a potential second downturn after stimulus measures end but before mass vaccinations enable economies to restart without risking widespread infection.Here's what they had to say:Convenience Stores, PipelinesGIC Pte, Singapore's sovereign wealth fund, is looking at "less loved" areas from retailing to infrastructure, whose valuations have been pummeled by the pandemic, Chief Executive Officer Lim Chow Kiat said when the firm released its annual review in late July.The fund only officially discloses it manages more than $100 billion but has more like $450 billion, according to the Sovereign Wealth Fund Institute, making it the sixth-biggest in the world.I

Yahoo Business
Sep 21, 2020

Pilots' unions urge U.S. regulator to improve cockpit procedures for Boeing 737 MAX
The U.S. aviation regulator should require new cockpit procedures for Boeing Co's 737 MAX to help pilots disable an erroneous stall alert that could be a serious distraction during mid-flight emergencies, major pilots unions said on Monday. The proposal about an erroneous "stick shaker" alert is among recommendations the Air Line Pilots Association (ALPA) and the Allied Pilots Association submitted during a 45-day public comment period for proposed 737 MAX design and operating changes laid out last month by the U.S. Federal Aviation Administration (FAA). The 737 MAX changes could pave the way for the FAA to lift a ban on the jet, potentially before year-end.

Yahoo Business
Sep 21, 2020

Tesla's Musk sees no immediate boost from 'Battery Day' tech unveil
Analysts were expecting Musk to unveil at the event plans for Tesla to produce its own battery cell as it seeks to cement its lead over General Motors , Volkswagen and others. Tesla expects significant shortages in 2022 and beyond, Musk cautioned, adding it intended to increase cell purchases from Panasonic , South Korea's LG Chem , China's CATL , and possibly other partners.

Yahoo Business
Sep 21, 2020

Musk sees no immediate boost from 'Battery Day' tech unveil
(Reuters) - Tesla Inc Chief Executive Officer Elon Musk said on Monday improvements unveiled at the electric-car maker's "Battery Day" event would not reach serious high-volume production until 2022.

Yahoo Business
Sep 21, 2020

Tiffany vs. LVMH Trial Set for January
A Delaware judge scheduled the case so that it could be resolved before the U.S. approval for the $16.2 billion deal expires Feb. 3.

Yahoo Business
Sep 21, 2020

Elon Musk expected to tout 'million-mile battery.' Here's what that means.
Electric vehicle battery technology is advancing - but don't expect dramatic developments any time soon - from Tesla or anyone else.

Yahoo Business
Sep 21, 2020

Nikola shares collapse as Founder Trevor Milton steps down as Chairman
Nikola shares plummeted on Monday after Founder Trevor Milton announced he would be stepping down from his position as Chairman. With Hindenburg Research accusing Nikola of laying an ‘ocean of lies,' Nikola shares fell over 60% from their all-time highs. Wedbush Managing Director Dan Ives joins The Final Round panel to break down the details.

Yahoo Business
Sep 21, 2020

Hertz Weighs Plans From Two Creditor Groups for Bankruptcy Loan
(Bloomberg) -- Hertz Global Holdings Inc. is negotiating with its creditors for a loan to bolster operations after months of funding itself during bankruptcy, according to people with knowledge of the talks.The rental-car company is mulling two tentative offers for loans of about $1 billion to $1.5 billion, said one of the people, who asked not to be named discussing the private negotiations. The proposals came from a group of Hertz's unsecured creditors and a separate set of first-lien creditors, the person said. The offers aren't yet formal and could fall through as the parties work on the details, the people added.A representative for Estero, Florida-based Hertz didn't immediately respond to a request for comment.Hertz filed for bankruptcy in May without a customary debtor-in-possession loan already in place, opting instead to rely on a large stockpile of cash on hand. The company first disclosed it would seek a DIP loan in August, after its attempt to raise money by selling potentially worthless shares failed.Cash ConcernsThe company meanwhile has resolved a standoff with lenders over leases on its fleet and benefited from rebounding used-vehicle prices.Hertz said in a previous filing that it's looking for new sources of cash. The travel business remains in a deep slump and much of the proceeds from vehicle sales have been going to pay off creditors.Hertz had sought to avoid raising traditional bankruptcy funding while it negotiated a debt restructuring with asset-backed securities holders who in

Yahoo Business
Sep 21, 2020

Microsoft's Bethesda Acquisition Paves Way for Netflix of Gaming
(Bloomberg) -- With Microsoft Corp.'s $7.5 billion purchase of ZeniMax Media Inc., gamers' long-awaited fantasy about a "Netflix for gaming" took a step closer to reality.The ZeniMax acquisition gives Microsoft Bethesda Softworks, the popular publishing label behind some of the world's best-selling titles, such as The Elder Scrolls series. Microsoft aims to use that draw, along with other popular Bethesda titles like Doom and Fallout to attract subscribers to Xbox Game Pass, its $10-a-month library of hundreds of video games for Xbox and personal computers. Microsoft said the service has 15 million subscribers now, up from 10 million in April. Netflix, which has revolutionized the entertainment business, finished the second quarter with almost 193 million subscribers. Key to that success is a steady stream of exclusive shows that viewers can only watch if they sign up for a monthly subscription.Some of the games in Bethesda's portfolio are already on Game Pass, but the all-cash acquisition gives Microsoft three big advantages. First and foremost, it allows Microsoft to put future games from Bethesda's franchises on Xbox Game Pass as soon as they're released, giving players a choice of paying $60 for the single title or locking into a monthly $10 subscription for more access. Secondly, it gives Microsoft control of Bethesda's vast and lucrative catalog, which includes hundreds of classic games like like Fallout 3 and Dishonored, for Xbox Game Pass. It also puts Microsoft in a position to

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