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SMIC has had 'preliminary exchanges' with U.S. over export restrictions

Chinese chipmaker Semiconductor Manufacturing International Corporation has undertaken “preliminary exchanges” with the U.S. Bureau of Industry and Security regarding export restrictions, the company said on Sunday in a filing. “The Company is conducting assessments on the relevant impact of such export restrictions on the company’s production and operation activities,” the filing to the Hong Kong Stock Exchange said. SMIC also said it has been operating in compliance with the relevant laws and regulations of all jurisdictions where it performs its businesses. …read more […]

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3 Monster Growth Stocks That Are Still Undervalued

What’s always in fashion on Wall Street? Growth. Given the current macro environment, however, compelling growth stocks have become even harder to spot. That said, despite the wild ride that has been 2020, a select few names could still shine bright and reward investors handsomely, so says the pros from the Street.

These tickers don’t have just any old growth prospects, they are some serious overachievers. Along with a track record of upward movements since 2020 kicked off, their solid businesses could drive share prices higher through 2020 and beyond.

Bearing this in mind, we set out to find …read more […]

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President to Get More Remdesivir Doses on Sunday: Trump Update

(Bloomberg) — President Donald Trump will receive more doses of Remdesivir on Sunday as he enters a third day in hospital, with his physician saying he has made “substantial progress” but still isn’t “out of the woods.”Trump completed a second dose of Remdesivir on Saturday and remained fever free, his doctor Sean Conley said in a Saturday evening update. He’s expected to conduct his presidential duties while being monitored by Conley.“While not yet out of the woods, the team remains cautiously optimistic,” Conley said in a statement.White House Chief of Staff Mark Meadows said in an interview on Fox News …read more […]

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Palantir’s Long-Awaited Public Debut Frustrates Some Investors

(Bloomberg) — A listing date that moved twice, a company known for parsing data that couldn’t find some of its own shareholders, and a complicated twist on an already unfamiliar route to market. Palantir Technologies Inc.’s direct listing had everything –- and left some shareholders wondering whether the 17-year-old company was really ready to go public.Palantir started trading Wednesday, choosing to run a seldom-tested direct listing process instead of a traditional initial public offering. The stock closed Friday at $9.20, below the $10 per share it opened at on the New York Stock Exchange, giving the company a market valuation …read more […]

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Italy’s Nexi, SIA Boards Said to Meet to Approve Merger

(Bloomberg) — Italy’s Nexi SpA and SIA SpA are set to announce their merger after their boards meet Sunday to approve a deal to create one of Europe’s biggest payment providers, people familiar with the matter said.As part of the agreement, Nexi would approve a reserved capital increase for SIA shareholders, with no cash component, said the people, who asked not to be named because the talks are private. Nexi would hold about 70% of the merged company and SIA 30%, they said. Cassa Depositi e Prestiti SpA, SIA’s main investor, would have about 25% of the merged entity, the …read more […]

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Suncor To Layoff Up To 15% Of Staff Amid Challenging Conditions

Suncor Energy will layoff about 10%-15% of its employees due to a significant drop in oil prices, the impact of the pandemic and continued market volatility.Canada-based Suncor Energy (SU) had a total workforce of about 13,000 at the end of 2019. The layoffs will be carried out over the next one and a half years, including 5% cuts in the next six months.The company informed the employees of the restructuring through an internal conference call with CEO Mark Little. The layoffs will take place throughout the organization and will be a combination of layoffs, voluntary buyouts and early retirement.Suncor’s spokesperson …read more […]