Year: 2020

Delta Air LInes reports 3Q earnings in which the company was able to cut its average daily cash burn to $24 million. …read more […]

(Bloomberg) — JPMorgan Chase & Co., in its third quarter under the shadow of the pandemic, showed that the surge in trading is holding up — and so are borrowers.The biggest U.S. bank posted a surprise increase in earnings, fueled by a 30% jump in markets revenue as elevated volume kept its stock and bond traders busy. The lender also defied expectations by cutting its reserve for credit losses by $569 million, after adding $20 billion to the allowance in the first half, as charge-offs of bad loans declined from a year earlier.Those improvements and a 9% gain in investment-banking …read more […]

JPMorgan kicks of third-quarter earnings season for the big banks. …read more […]

This article will reflect on the compensation paid to Patrick Mahaffy who has served as CEO of Clovis Oncology, Inc… …read more […]

Most folks aren’t aware of the collapse in timber prices, especially in the Deep South.
Most of us don’t get excited about economic collapses unless they involve things we own… and most trees are owned by farmers and ranchers who seldom make the news.
But if you’re a farm boy in Louisiana who grew up planting trees and hearing stories about a $5,000-per-acre cash-in when you grow up, you’d be pretty devastated at this turn of events.
The collapse has many reasons. The biggest by far is a glut of lumber. One million fewer homes per year have been built since 2007.
Single-family homes …read more […]

The company, which is expected to report third-quarter results on Oct. 21, cut the price to $71,990 from $74,990 in the United States. Tesla said it delivered 139,300 vehicles in the third quarter, an all-time record, yet shares fell as some analysts doubted if Tesla could hit its ambitious year-end target. …read more […]

Top news and what to watch in the markets on Tuesday, October 13, 2020. …read more […]

This article will reflect on the compensation paid to D. Warren East who has served as CEO of Rolls-Royce Holdings plc… …read more […]

(Bloomberg) — Oil edged higher as data showed Chinese crude imports rose last month.Futures in New York rose around 1.3% toward $40 a barrel. Chinese crude imports climbed 2.1% in September from August, the General Administration of Customs said Tuesday, in a positive sign for global demand. Buying was resilient against expectations for a slowdown and volumes are likely to stay high through to the end of the year, Australia & New Zealand Banking Group Ltd. said in a note.The data underscore China’s role in the oil market’s recovery as a renewed coronavirus spread impinges on the rebound in consumption …read more […]

The European Union is set to win the right to impose tariffs on about $4 billion in U.S. goods in retaliation for subsidies granted to planemaker Boeing under a World Trade Organization (WTO) ruling due on Tuesday. The decision threatens to stoke transatlantic trade tensions with just three weeks until the U.S. presidential election on Nov. 3, although it could also help at last to settle a 16-year legal battle. Both the United States and the EU have signalled interest in settling the dispute over subsidies each provided to their respective planemakers, Boeing and Airbus, while accusing the …read more […]

(Bloomberg) — HSBC Holdings Plc was left off the list of banks arranging China’s sovereign dollar debt sale for the first time since the nation returned with big annual deals in 2017.Planned for this week, the $6 billion sale will be arranged by 13 banks, including four Chinese lenders and foreign banks such as Bank of America Corp., Citigroup Inc. and Standard Chartered Plc, according to people familiar with the matter who asked not to be named discussing a private information. The Ministry of Finance didn’t immediately respond to a fax seeking comment.The reason for HSBC’s omission was unclear, but …read more […]

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Shares in Sorrento rose 2.7% in Monday’s extended market session after the company entered into an exclusive license agreement with Personalized Stem Cells (PSC) to buy the global rights to its adipose derived mesenchymal stem cells (MSCs) to treat patients suffering from COVID-19 acute respiratory distress syndrome (ARDS).Sorrento (SRNE) said that the MSC program has been cleared for a Phase 1 clinical trial by the US Food and Drug Administration to the pipeline of COVID-19 focused rescue therapies. As part of the agreement, the company will conduct the Phase 1 trial, which is targeted to enroll about 20 hospitalized COVID-19 …read more […]

Shares of Cloudflare soared 23% on Monday following the cloud computing company’s launch of its new cloud-based platform Cloudflare One. The network-as-a-service platform promises to secure and connect companies and remote working teams anywhere and on any device.Cloudflare (NET) said in a blog posted on its website that Cloudflare One “replaces a patchwork of appliances and WAN technologies with a single network that provides cloud-based security, performance, and control through one user interface.”The company also said that it has integrated the Cloudflare One platform with all major providers of identity management and device-security solutions. Microsoft Active Directory, Google Workspace, Okta …read more […]

Johnson & Johnson (JNJ) has halted its late-stage Covid-19 vaccine trial after a study participant fell ill, news provider STAT has reported. The details of the ‘unexplained illness’ have not been provided.“We must respect this participant’s privacy. We’re also learning more about this participant’s illness, and it’s important to have all the facts before we share additional information,” JNJ told STAT in a statement.A document sent to researchers running the 60,000-patient clinical trial, and obtained by STAT, revealed that a “pausing rule” had been met, and as a result the online enrollment system was closed and an independent safety committee …read more […]