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MarketWatch MarketPulseNov 27, 2020
Coronavirus tally: Global cases of COVID-19 top 61 million, and U.S. death toll climbs above 263,000
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 61 million on Friday, according to data aggregated by Johns Hopkins University, while the death toll rose above 1.4 million. The U.S. has the highest case tally in the world at 12.9 million and the highest death toll at 263,462, or more than a fifth of the global total. The U.S. counted q03,116 new cases on Thursday, and at least 1,178 people died, according to a New York Times tracker. In the last week, the U.S. has averaged 164,687 cases a day, up 23% from the average two weeks ago and cases are rising in 45 states. There are currently a record of 90,481 COVID-19 patients in U.S. hospitals, according to the COVID Tracking Project, topping the previous record of 89,959 set a day ago. Brazil has the second highest death toll at 171,460 and is third by cases at 6.2 million. India is second in cases with 9.3 million, and third in deaths at 135,715. Mexico has the fourth highest death toll at 104,242 and 10th highest case tally at 1 million. The U.K has 57,128 deaths, the highest in Europe and fifth highest in the world, and 1.6 million cases, or seventh highest in the world.

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.



MarketWatch MarketPulseNov 27, 2020
Tesla to recall 870 cars in China over roof defect: AFP
Tesla Inc. is recalling 870 cars in China because of a fault in the roofs that could cause a part to fall off, AFP reported Friday, citing China's market regulator. The latest recall affects Model X cars that were produced between March 16 and July 31 in 2016. Parts of the roof trim may have insufficient primer, which is used to improve adhesion, meaning it could fall off, the regulator said in a statement. "If the trim falls off the vehicle during driving, it will increase the risk of collision or injury for vehicles behind, especially motorcycles, posing a safety hazard," the statement said. On Wednesday, Tesla said it was recalling more than 9,000 Model Y and Model X vehicles over issues with bolts and, in the case of the Model X SUV, the same issue with the roof trim. The 9,136 Model Xs involved in the recall were made between Sept. 2015 and July 2016, according to a NHTSA safety recall report. For the Model Y, Tesla notified NHTSA earlier this month that it was recalling "certain 2020 Model Y vehicles" because bolts in the car's steering mechanism may have not been properly tightened, which could eventually interfere with steering and increase the risk of a crash, NHTSA said. Tesla shares were down 1.7% premarket, but have gained 586% in the year to date.

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.



MarketWatch MarketPulseNov 23, 2020
Warner Music stock gains as profit falls, but revenue rises to top forecasts
Warner Music Group Corp. reported Monday a breakeven fiscal fourth quarter, missing expectations, although revenue rose slightly above forecasts. The stock rose 0.8% in premarket trading. Net income for the quarter to Sept. 30 fell to $1 million, or $0.00 on a per-share basis, from $91 million, or 18 cents a share, in the year-ago period. The FactSet consensus for net earnings per share was 5 cents. Adjusted net income, which excludes non-recurring items related to the initial public offering, fell to $20 million from $125 million. Revenue rose 0.2% to $1.13 billion, just above the FactSet consensus of $1.11 billion, as "robust" digital revenue growth was partially offset by a decline in recorded music artist services, and the effects of the COVID-19 pandemic on its music publishing business. "We're essentially flat against a record-breaking prior year and, during the quarter, we grew 11% on an as-reported basis, excluding the revenue streams most impacted by COVID," said Chief Executive Steve Cooper. "Our streaming growth has stayed strong, and we've also seen an acceleration in a whole spectrum of emerging revenue streams such as social media, gaming, and in-home fitness." The stock has lost 3.7% over the past three months through Friday, while the S&P 500 has gained 4.7%.

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.


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