WATERLOO, ON, Sept. 1, 2020 /CNW/ — BlackBerry Limited (NYSE: BB; TSX: BB) today announced that its BlackBerry® Unified Endpoint Manager (UEM) software has achieved Department of Defense Information Network (DoDIN) approval as a Mobile Device Management (MDM) solution. …read more […]
(Bloomberg) — Schlumberger Ltd., the world’s largest oilfield services company, agreed to sell its U.S. fracking business to a smaller rival following a collapse in demand.Schlumberger said Tuesday its OneStim unit will be combined with Liberty Oilfield Services Inc. in exchange for a 37% stake in the smaller company valued at about $448 million.OneStim helps customers extract oil and gas from shale wells. Demand for its services has contracted rapidly this year following the slump in global oil prices amid the effects of the Covid-19 pandemic. In July, Schlumberger described the decline in the unit’s sales as “precipitous,” contributing to …read more […]
(Bloomberg) — Tesla Inc. plans to sell as much as $5 billion of shares, capitalizing on its high-flying stock and on a recent share split that made it more accessible to retail investors.The carmaker will sell the shares “from time to time” through an agreement with several banks, according to a regulatory filing. For more details, see here.Before the new offering, Elon Musk’s company had raised about $14 billion over the past decade through secondary stock offerings, most recently with a $2 billion sale in February. The sales have helped bolster the company’s cash during its transition from a niche …read more […]
The oilfield service giant, whose onshore hydraulic fracturing unit in the United States and Canada includes pressure pumping, pumpdown perforating and Permian frac sand businesses, will hold a 37% stake in the new combined company. Hydraulic fracturing, or fracking, involves injecting sand, water and chemicals underground to crack open rock formations holding natural gas and oil, a technique that led to a boom in U.S. production and a slump in energy prices in 2014. …read more […]
Top news and what to watch in the markets on Tuesday, September 1, 2020. …read more […]
(Bloomberg) — Apple Inc. has asked suppliers to build at least 75 million 5G iPhones for later this year, roughly in line with last year’s launch, in a sign that demand for the company’s most important product is holding up in the midst of the global pandemic and recession.The Cupertino, California-based technology giant anticipates shipments of these next-generation iPhones may reach as high as 80 million units in 2020, according to people familiar with the situation. Apple plans to launch four new models in October with fifth-generation wireless speeds, a different design and a wider choice of screen sizes, said …read more […]
(Bloomberg) — Apple Inc. has asked suppliers to build at least 75 million 5G iPhones for later this year, roughly in line with last year’s launch, in a sign that demand for the company’s most important product is holding up in the midst of the global pandemic and recession.The Cupertino, California-based technology giant anticipates shipments of these next-generation iPhones may reach as high as 80 million units in 2020, according to people familiar with the situation. Apple plans to launch four new models in October with fifth-generation wireless speeds, a different design and a wider choice of screen sizes, said …read more […]
(Bloomberg) — Sanofi said the rheumatoid arthritis medicine Kevzara failed to work against the new coronavirus, joining a growing list of treatments that were tried and discarded in the pandemic.The drug, which stoked hope against Covid-19 because it works on inflammation, didn’t significantly shorten patients’ hospital stays in a study involving 420 people, Sanofi said in a statement Tuesday. Patients were about as likely to develop severe infections such as pneumonia and die on Kevzara as they were on a placebo.Doctors and drugmakers are scouring labs for existing treatments — from antiviral drugs to plasma from recovered patients — that …read more […]
(Bloomberg Opinion) — A 19% one-day jump in a company’s stock price in the current pandemic-driven recession is the kind of thing you’d expect from the U.S. tech sector, not the staid world of European utilities.Still, that’s what France’s Suez SA, whose business is water treatment and waste management, delivered on Monday after rival Veolia Environnement SA offered more than 2.9 billion euros ($3.5 billion) for 29.9% of the firm.The stake, currently held by gas utility Engie SA, is just the appetizer. Veolia’s boss, Antoine Frerot, is proposing to eventually swallow all of Suez and build a “world champion” with …read more […]
As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy companies were spending billions of dollars on major oil and gas assets and costly drilling programmes in remote parts of the world in a relentless drive to produce more. Fast forward through an oil price crash in 2014 followed by the fallout from the coronavirus pandemic this year and some big oil companies are counting the cost of …read more […]
T2 Biosystems (TTOO) has announced that the U.S. Food and Drug Administration (FDA) has issued Emergency Use Authorization (EUA) for its COVID-19 molecular diagnostic test, the T2SARS-CoV-2 Panel. Shares surged 19% in after-hours trading on the news.TTOO’s molecular diagnostic test detects the COVID-19 virus, SARS-CoV-2, and provides results in under two hours using a nasopharyngeal swab sample. It runs on the company’s fully-automated T2Dx Instrument, which can carry out seven tests simultaneously.Clinical testing on both positive and negative patient samples demonstrated a sensitivity of 95% and specificity of 100%, says the company.“We believe the Emergency Use Authorization for our COVID-19 …read more […]
Walmart Inc on Tuesday unveiled the perks of its new membership program, Walmart Plus, which will grant subscribers unlimited free delivery, fuel discounts and no checkout lines. Touted as a rival to Amazon.com Inc’s Prime subscription, Walmart’s new loyalty program will cost $98 a year or $12.95 a month. Amazon Prime, which offers U.S. shoppers fast shipping, streaming video and other services, costs $119 a year or $12.99 a month. …read more […]
Eastman Kodak Company (NYSE: KODK) stock witnessed a relatively flat day of trading on Monday with a 0.66% downward movement and closing at $5.98 at the end of trading hours. However, in the extended trading hours, the stock price briefly peaked at $8.70.What Happened: On Aug 30, there were reports of a class-action lawsuit against the company for securities fraud. A day after the news broke, the company filed a Form 13G with the SEC disclosing that a prominent hedge fund company has purchased a stake in Kodak.According to the SEC filing on Aug 31, Delaware hedge fund D.E. Shaw …read more […]
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […] …read more […]
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