Month: July 2020

The company, whose Chief Executive Officer Elon Musk has spoken against further government aid as Congress debates another round of stimulus, said that along with cost cuts, the benefits had offset almost all of its costs due to the idling of factories in this year’s lockdowns. Tesla’s only U.S. vehicle factory — in California, where most of its cars are produced — was shut down for some six weeks in the second quarter ended June after an initial standoff with local authorities. Reuters could not immediately verify which government assistance the company received and in what country. …read more […]

(Bloomberg) — Remington Outdoor Co. filed for bankruptcy for the second time in two years with plans to sell the 200-year-old maker of firearms.The company said reduced gun sales prevented it from making money even after restructuring its finances in its first bankruptcy. Remington had $437.5 million in sales last year, about half the business it did in 2016, according to court papers filed in Decatur, Alabama.The company owes various lenders more than $250 million, including a $12.5 million debt to Remington’s home town of Huntsville, Alabama, which put up a loan to help upgrade a manufacturing plant there.The Chapter …read more […]

Here is why gold prices are going through the roof. …read more […]

Amazon (AMZN) rose 1.5% on Monday after Merill Lynch and Wells Fargo, among others, lifted the price target on the stock. The analysts’ optimism comes ahead of the company’s 2Q earnings on July 30. Amazon has benefited from an online user boom helping its shares surge over 65% so far this year.Merrill Lynch analyst Justin Post raised the price target to $3,280 (7.4% upside potential) from $3,000. Meanwhile, Wells Fargo analyst Brian Fitzgerald hiked it to $3,600 from $3,000.Wedbush analyst Michael Pachter lifted the price target to $3,500 from $3,050. Pachter believes that “Covid-19 and the stay-at-home response for many …read more […]

Emergent BioSolutions Inc. (EBS) has signed a $174 million deal to provide contract development and manufacturing for AstraZeneca’s (AZN) COVID-19 vaccine candidate, AZD1222.As part of the agreement, Emergent will start this year to produce drug substance at large scale for commercial supply. The contract valid until 2021, follows a $87 million contract in June, which Emergent signed for the development of AstraZeneca’s vaccine candidate. Together the agreements bring AstraZeneca’s commitment to a total of $261 million.AstraZeneca, which is developing AZD1222 together with Oxford University, has in recent weeks signed supply chain agreements for the capacity to produce 2 billion doses …read more […]

In the hearts of New York and metro Los Angeles, Rite Aid deployed the technology in largely lower-income, non-white neighbourhoods, according to a Reuters analysis. In telephone and email exchanges with Reuters since February, Rite Aid confirmed the existence and breadth of its facial recognition programme. …read more […]

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“Those cows are belly-deep in grass and starving to death.”
That’s a maxim among livestock producers to explain the nuances of forage quality.
It simply means all grass is not created equal.
When grass first begins to grow, it’s high in protein. As it matures, it moves from a protein to a carbohydrate. And if it becomes fully mature, it turns into something akin to cardboard. It loses all its nutritional strength.
Different species of grass mature at different heights. Bluegrass, for example, matures and sets seed often before it’s a foot tall. Switchgrass, in contrast, often grows to 6 feet before it even …read more […]

Does the July share price for Sohu.com Limited (NASDAQ:SOHU) reflect what it’s really worth? Today, we will estimate… …read more […]

Top news and what to watch in the markets on Tuesday, July 28, 2020. …read more […]

(Bloomberg) — Apple Inc.’s newest services have yet to generate meaningful revenue, making it harder for the largest technology company to expand beyond the iPhone and other hardware.Last year, the Cupertino, California-based company launched four new services: TV+, Arcade, News+ and the Apple Card. After a few quarters on the market, the offerings haven’t contributed much to Apple’s top line.When Apple reports results on July 30, investors will be looking for updates on these offerings. Services growth has been a bright spot in recent years as iPhone sales have slowed. For the fiscal third quarter, analysts forecast $13.1 billion in …read more […]

Tesla Inc. (TSLA) has launched a recruiting bonanza in Shanghai to hire designers at its China studio and about 1,000 factory workers, job posts seen by Reuters show.The move is part of the U.S. electric vehicle maker’s plan to ramp up manufacturing in the world’s biggest auto market. Back in January, Tesla announced plans to open a design and research centre in China to make “Chinese-style” cars.The posts on the Tesla human resources department’s official WeChat account mark the first time the California-based automaker has sought to hire designers in China. However, the posts did not reveal how many designers …read more […]

(Bloomberg) — Gold has just smashed a record, and every major bank agrees that it’ll cross $2,000 an ounce. What happens next is where forecasts diverge.JPMorgan Chase & Co. says the rally that has already seen prices rise 28% in 2020 could start to lose steam later this year. Citigroup Inc. and Bank of America Corp aren’t ready to call it quits just yet, with the former expecting higher prices for longer and the latter seeing the metal soaring to as high as $3,000 an ounce.Gold has emerged as the safe haven of choice among investors as the pandemic upends …read more […]

Shares in Spectrum Pharmaceuticals (SPPI) jumped 71% in extended trading after announcing positive topline results from a Phase 2 clinical trial evaluating its poziotinib in previously treated non-small cell lung cancer (NSCLC).The stock soared to $5.53 in Monday’s after-market trading. Spectrum said that it met the pre-specified primary endpoint in the poziotinib ZENITH20 Phase 2 clinical trial.Cohort 2 of the ZENITH20 clinical trial enrolled a total of 90 patients who received an oral, once daily dose of 16 mg of poziotinib. All the patients had failed at least one prior therapy with 60 patients (67%) having failed two or more …read more […]

Intel Corp. (INTC) is ordering its 6-nanometer (nm) chips to be manufactured by TSMC (TSM) for next year, according to a report from the Taiwan-based newspaper Commercial Times.The news is considered unprecedented for Intel, a prominent chip manufacturer, now using a third-party manufacturer to create its own product. On July 23, Intel announced that it would see significant delays until 2022 for its latest cutting-edge 7-nm chip. Intel CEO Bob Swan said on a Q2 earnings call that the company has “invested in contingency plans to hedge against further schedule uncertainty” and that it could involve “somebody else’s foundry.”The Commercial …read more […]