Year: 2020

(Bloomberg) — Tesla Inc.’s highly anticipated “Battery Day” fell short of expectations that helped fuel its $320 billion surge in market value this year, with Elon Musk outlining grandiose goals that will take time to pull off.The chief executive officer laid out a plan Tuesday to build a $25,000 car and cut battery costs in half over the next three years. While the technology and manufacturing breakthroughs outlined were impressive, Robert W. Baird’s Ben Kallo wrote, Tesla’s valuation already reflected its ability to disrupt.“With the Battery Day in the rearview, we think there is a lack of upcoming catalysts and …read more […]

Ciena Corporation (NYSE:CIEN) shares have had a horrible month, losing 31% after a relatively good period beforehand… …read more […]

Stock futures ticked higher Tuesday evening, building on the major indices’ regular-session gains in an at least temporary reprieve from September’s selloff so far. …read more […]

This month, we saw the AcelRx Pharmaceuticals, Inc. (NASDAQ:ACRX) up an impressive 39%. Meanwhile over the last three… …read more […]

Did you hear the news?
It’s bad.
Chuck E. Cheese has gone bankrupt.
It turns out it’s tough to convince busloads of families to have some fun eating lousy pizza at an arcade in the midst of a pandemic.
But this tale has an interesting and useful twist.
You see, with $1 billion in debt and no hope in sight, the restaurant chain with a mouse for a logo (we heard management will soon start a hotel business with a bedbug as its mascot) was forced toss up its arms and push aside its debt.
But before the company can clean up its books, it has …read more […]

SMITHS FALLS, ON and NEW YORK, NY, Sept. 23, 2020 /CNW/ – Canopy Growth Corporation (“Canopy Growth”) (TSX: WEED) (NYSE: CGC) and Acreage Holdings, Inc. …read more […]

Top news and what to watch in the markets on Wednesday, September 23, 2020. …read more […]

Medicare’s annual open enrollment period begins Oct.15 and, given COVID-19, financial planners urge people to review their plans. …read more […]

(Bloomberg) — The pound extended its decline to a two-month low as investors fretted over the possibility of a new lockdown in Britain.The currency dropped as much as 0.5% to $1.2676 after Foreign Secretary Dominic Raab said that he can’t rule out a nationwide shutdown before trading little changed. Government bonds advanced, sending the yield across tenors down about one basis point.On Tuesday, Prime Minister Boris Johnson set new rules to curb the rise in coronavirus cases, including a 10 p.m. closing time for pubs and restaurants and a recommendation for office workers to work from home if they can.These …read more […]

(Bloomberg) — Oil edged higher as positive European manufacturing data and rising equity markets gave some respite to recent demand worries.Futures in New York for November delivery rose to over $40 a barrel. The German economy continues to recover thanks to stronger-than-expected manufacturing figures, data showed, while equity markets in Europe are also stronger. Citgroup Inc. said it remains bullish on the outlook for oil, though the market is undergoing a fitful rebalancing.The American Petroleum Institute reported crude stockpiles increased by nearly 700,000 barrels last week, while gasoline inventories shrunk by 7.7 million barrels, according to people familiar, ahead of …read more […]

(Bloomberg) — Just a few days ago, the TikTok deal looked like a win for China. Now its state-run media are denouncing it as “an American trap” and a “dirty and underhanded trick.”The quick shift in sentiment shows the complications of concluding an agreement that is about much more than finding a proper valuation for an addictive video app that has enthralled teenagers around the world. It also has big ramifications for how the world’s biggest economies handle security threats related to new technologies that will drive growth over the next few decades.For China, the political stakes are similar to …read more […]

Shares in Sorrento Therapeutics (SRNE) spiked 10.51% in Tuesday’s trading after the company released positive Phase 1b Study results evaluating safety and MTD (maximum tolerated dose) of epidural resiniferatoxin (RTX) injection to treat intractable cancer pain.A majority of patients reported meaningful pain reduction of 30% or more from baseline, and no dose limiting toxicities were reported.The data was presented at the 14th Annual Pain Therapeutics Summit held virtually from September 21 to 22, 2020.“We are extremely encouraged by the results of this initial study. Even in patients with high levels of pain, RTX given via an epidural injection has been …read more […]

(Bloomberg) — Tesla Inc.’s Elon Musk cast a shadow of uncertainty over the sales prospects of his suppliers in Asia after unveiling a push to lower the cost of batteries for electric vehicles and underscoring the point by signaling that it will eventually start producing its own cells.Shares of LG Chem Ltd. slid as much as 5.5% in Seoul, while Contemporary Amperex Technology Co. dropped 4.7% in Shenzhen and Panasonic Corp. dropped 4.3% in Tokyo. The world’s three top EV battery makers all supply Tesla, according to Bloomberg’s Supply Chain Analysis.The maker of the Model S, X and 3 electric …read more […]

Tesla Inc (NASDAQ: TSLA) battery supplier shares slumped in morning trade on Asian markets Wednesday after the automaker’s CEO Elon Musk revealed a plan to halve the cost of batteries and make them at its own factories.What Happened: Korea’s LG Chem Ltd (OTC: LGCLF) fell 4.5% in the morning hours in Seoul, while Panasonic Corp (OTC: PCRFY) shares fell 4% in Tokyo and China’s CATL fell by as much as 4% in Shenzhen, Reuters reported.Growth of battery makers in China, South Korea, and Japan may be stunted in the long-term as Musk’s comments at the company’s battery day are reportedly …read more […]

Wilfried Haas owns a 3 kilowatt solar system which has been running as a micro power station since 1992, helping Germany, Europe’s largest economy, curb its dependence on coal and nuclear power. Together with thousands of other pioneer investors, Haas is considering whether he can continue his micro-generation without the subsidy scheme that helped to give Germany the highest level of installed renewable capacity in Europe. …read more […]