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Everybody goes to Washington: Morning Brief
Top news and what to watch in the markets on Wednesday, July 29, 2020. …read more […]
Month: July 2020
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Fuel-Cell Firm Stages Comeback 20 Years Later With Help of China
(Bloomberg) — Two decades ago, a burst in the dot-com bubble meant that shares of Ballard Power Systems Inc. may have been dead in the water. Now, it’s rebounding with a vengeance.After a meteoric rise that saw the hydrogen fuel-cell company’s stock surge more than 400% between late 1999 and March 2000, it crashed almost immediately after, falling 88% over the next 18 months.Fast-forward 20 years and the Burnaby, British Columbia-based company is one of the best-performing stocks in Canada this year with a gain of 117%. That’s not far off the 154% jump in shares of Shopify Inc., a …read more […]
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Chemicals Pessimism Contrasts With Retail Beats: Earnings Wrap
(Bloomberg) — The picture emerging at the height of earnings season is patchy at best, with German chemicals maker BASF SE –- a bellwether of global industrial demand –- reporting a loss and forecasting no significant improvement in earnings in the third quarter, while some retail companies beat low expectations.European companies’ second-quarter reports so far have been good enough to justify the stock market’s rally from the lows in March, though it’s not clear they’re providing fuel for further gains.“Global stock markets appear to be starting to get a little wobbly as the latest earnings numbers start to paint a …read more […]
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Stocks Mixed Before Fed Decision; Dollar Weakens: Markets Wrap
(Bloomberg) — Stocks struggled for direction in most markets and Treasuries held steady in the run-up to Wednesday’s decision from the Federal Reserve’s policy meeting.The Stoxx Europe 600 Index opened modestly lower as earnings rolled in, with Barclays Plc shares slipping after U.K. bank’s provisions for bad loan losses exceeded market estimates. U.S. index futures swung from losses to gains, while the dollar fell against a basket of its major peers. Gold was little changed at about $1,960 an ounce.Shares slid in Japan, where Fitch Ratings lowered its outlook on the country’s debt and earnings at Canon Inc. disappointed. Stocks …read more […]
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Aston Martin losses grow as sales tumble at James Bond's carmaker
Carmaker Aston Martin, which has changed its boss and brought in a billionaire investor this year after a weak performance, posted on Wednesday a deeper first-half loss of 227 million pounds ($293 million) amid a slump in sales. Its main factory, which closed during the lockdown, is not due to reopen until the end of August as the firm focussed on resuming production at a new site in Wales, where its first sport utility vehicle, the DBX, rolled off the line this month. Popular for being James Bond’s carmaker of choice, the firm has had a difficult time …read more […]
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Sensor maker AMS guides for strong demand from smartphone makers in third quarter
Sensor specialist AMS AG, which just closed the takeover of Germany’s Osram, said it expects its third-quarter revenues to grow around 20% versus the second quarter as demand from smartphone makers remains strong despite the pandemic. AMS, which generates a large chunk of its revenue with sensors for Apple’s iPhones, said revenue came in at $460.3 million and adjusted earnings before interest and tax (EBIT) reached $90.1 million in the three months through June. The adjusted EBIT Margin was at 20%. …read more […]
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Tesla's Musk says open to supplying batteries to other automakers
Tesla Inc Chief Executive Officer Elon Musk said on Tuesday that the company is open to licensing software and supplying powertrains and batteries. Tesla has previously supplied batteries to Mercedes and Toyota Motor under separate partnership deals. Battery manufacturing is an area that analysts and industry officials say the U.S. electric car maker has a competitive edge compared with legacy automakers. …read more […]
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Tesla's Musk says open to supplying batteries to other automakers
Tesla Inc Chief Executive Officer Elon Musk said on Tuesday that the company is open to licensing software and supplying powertrains and batteries. Tesla has previously supplied batteries to Mercedes and Toyota Motor under separate partnership deals. Battery manufacturing is an area that analysts and industry officials say the U.S. electric car maker has a competitive edge compared with legacy automakers. …read more […]
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Apple Registers 225% iPhone Sales Growth In Q2 In China, Remains Fastest-Growing Smartphone Maker: Report
Apple Inc. (NASDAQ: AAPL) emerged as the fastest-growing smartphone maker on mainland China in the second quarter this year, as iPhone SE and iPhone 11 models led the company to register robust sales, according to Counterpoint Research data reported by CNBC Tuesday.What Happened The Cupertino-based company saw a sell-through volume of 7.4 million units for iPhones in the crucial Asian market in the quarter ended June, a growth of 32% year-on-year.Numbers from Shanghai-based CINNO Research separately indicate sales of iPhone spiked 62% year-on-year to 13 million units in Q2. This is a 225% increase over the previous quarter, according to …read more […]