Dow futures jumped as China markets soar and Covid-19 deaths remain low, with the Nasdaq composite at a record high. What's next for Tesla?
Shares of Nio Inc. were vaulted 21% higher in premarket trading Monday, after DigiTimes reported that the China-based electric vehicle (EV) maker recorded a big jump in sales in June. The rally puts the stock on track for a fifth-straight gain, to the highest price seen during regular session hours since Sept. 14, 2018, which was Nio's third day as a public company; the stock's record close was $11.60 on Sept. 13, 2018. The stock rocketed 35.9% over the past four sessions through Thursday. DigiTimes reported Monday, citing industry sources, that Nio sold 3,740 EVs in June, up 179% from a year ago. The report follows rival Tesla Inc. reporting on Thursday second-quarter deliveries that were well above expectations. Nio's stock has more than doubled year to date through Thursday (up 133%), while Tesla shares have nearly tripled (up 189%) and the S&P 500 has slipped 3.1%.
Brazilian health insurer Hapvida said in a securities filing on Monday it has suffered a cyber attack potentially involving access to the personal information of its customers. Hapvida said, after a preliminary assessment of the security breach, that the attackers did not access customers' medical records or financial information. It said the attack was blocked by Hapvida's own information security officers and third-party companies specializing in dealing with this type of issue.
Goldman Sach has downgraded its U.S. growth outlook for 2020, saying a reimposition of Covid-19 restrictions due to surging cases across swaths of the country will weigh on consumer spending.
Welcome to the future, where the world is under constant attack from a brutal alien threat. Are YOU ready to BUILD TO BATTLE?! The fate of the universe lies in your hands!
Red Cross Joins Forces with WONDER WOMAN 1984 to Save the Day for Patients in NeedPR NewswireWASHINGTON, July 6, 2020Give blood July 1-31 and earn a chance to win an epic prop replica giveaway from the new Warner Bros. The Red Cross has an urgent need for blood donors this summer, as the COVID-19 pandemic has caused unprecedented supply challenges amid this uncertain environment.
The "Global Elevator & Escalator Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
Varian (NYSE: VAR) today announced it received the "Best After-Sales Service Award for Radiotherapy Products" in the 2019 Chinese Medical Devices Industry Data and After-Sales Service Survey for the third year in a row. Varian also led in metrics of Market Share, Repurchasing Reference, and Net Promoter Score.
Valnet Inc., an online media publisher, today announced it has acquired MakeUseOf.com, an authoritative and trusted source of technology news, guides, and reviews.
The "Plant Growth Regulators - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Shares of Uber Technologies Inc. ran up 9.4% in premarket trading Monday, after the ride-hailing giant confirmed a deal to buy food-delivery service Postmates Inc. for $2.65 billion in stock. Uber estimates that it will issue about 84 million shares of its common stock, representing about 4.8% of the shares outstanding, for 100% of Postmates's equity. After the deal's closing, which is expected in the first quarter of 2021, Uber plans to keep Postmates's app running separately from its own food-delivery service app Uber Eats. "Uber and Postmates have long shared a belief that platforms like ours can power much more than just food delivery-they can be a hugely important part of local commerce and communities, all the more important during crises like COVID-19," said Uber Chief Executive Dara Khosrowshahi. Bloomberg and the New York Times reported over the weekend that a deal was expected to be announced as early as Monday. Uber's stock has gained 3.2% year to date through Thursday, while shares of rival Lyft Inc. has dropped 26.0% and the S&P 500 has lost 3.1%.
Stock futures get lift from surge in Chinese markets; Uber to buy Postmates for $2.65 billion in stock; Warren Buffett snaps up Dominion Energy's natural gas assets.
The Howard Hughes Corporation® (NYSE: HHC) announced today that it will release 2020 second-quarter earnings on Monday, August 3, 2020, after the market closes and will hold its second-quarter conference call on Tuesday, August 4, 2020, at 10:00 a.m. Eastern Time. The Company's earnings release will be posted to the Investors section of the Company's website prior to the conference call.
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...
Oliver Bellenhaus, a Wirecard executive who ran what was supposed to be the group’s largest and most profitable unit before its operations were exposed as a sham, has left his base in Dubai and travelled to Munich. Wirecard for years told its longstanding auditor EY that CardSystems Middle East — the unit overseen by Mr Bellenhaus, largely from his apartment in the Burj Khalifa, the world’s tallest building — ran a lucrative business outsourcing payments processing to external partners. Mr Bellenhaus and the group’s vanished chief operating officer, Jan Marsalek, this year briefed KPMG about the arrangements with third parties during a special audit by the accounting firm, according to documents seen by the Financial Times.
The "Telehealth Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
Gol Linhas Aereas Inteligents will tap its loyalty program to get a cash advance of 1.2 billion reais ($225.81 million), the company said on Monday, as airlines worldwide continue to struggle financially due to the pandemic. The deal will work through advanced ticket sales, trips that Gol will then have to provide to the clients of the loyalty program, Smiles Fidelidade. Smiles is a separate company but is controlled by the Brazilian airline.
(Bloomberg) -- One of the largest utilities in America is starting to turn its back on natural gas.Dominion Energy Inc., the second-biggest U.S. power company by market value, on Sunday said it’s selling substantially all of its gas pipeline and storage assets to Berkshire Hathaway Inc. for $4 billion. In a separate statement, Dominion and its partner Duke Energy Corp. said they’re killing the controversial Atlantic Coast gas pipeline along the U.S. East Coast, citing ongoing delays and “cost uncertainty.”The moves come as utilities face increasing pressure from local governments, investors and environmentalists to quit the fossil fuel. While long heralded as a cleaner alternative to coal and heating oil, gas is now getting shoved aside in the fight against climate change as states including New York, California and Dominion’s home base of Virginia have all passed laws for utilities to be carbon free within decades.“This transaction represents another significant step in our evolution as a company,” Dominion Chief Executive Officer Thomas Farrell said in a statement, citing the company’s goal of reaching net-zero emissions by 2050.Dominion shares fell as much as 2.5% before the start of regular trading in New York. The push away from gas positions Dominion as more of a pure-play state-regulated utility at a time when oil and pipeline operators have lagged the broader market. In the last year, an index of pipeline companies has fallen 36%, while the S&P 500 Index has gained 4.7%.Read More: Wall Street Falls Out of Love With Once-Coveted Fossil FuelTo be clear, Richmond, Virginia-based Dominion, which provides power and gas to seven million customers in 20 states, isn’t walking away from fossil fuel altogether. It will still sell gas to customers for heating and cooking. It’s retaining an interest in its Cove Point liquefied natural gas export terminal in Maryland. And 40% of the electricity the company generates comes from plants fueled by gas, coal and oil, according to its website.“They’ll still be burning lots of gas for decades ahead in the core utility business,” Bloomberg Intelligence analyst Kit Konolige said in an email.But pressure is mounting. The law Virginia enacted in April requires Dominion’s utility in the state to be to be carbon-free by 2045.Atlantic Coast is the third U.S. gas pipeline project to scrapped or shelved this year. Williams Cos. opted not to reapply for a permit in May for a $1 billion pipeline extension after regulators in New York blocked it. And in February the Oklahoma-based company canceled plans for a pipeline that would have run from Appalachia to New York.While the Atlantic Coast pipeline project won a key victory last month when the U.S. Supreme Court sided against environmentalists and upheld a crucial permit, the project still faced formidable opposition and costs. “That would indicate that that wasn’t a strategic decision as much it was as a practical decision,” said Paul Patterson, an analyst at Glenrock Associates LLC.Deal with BerkshireDominion’s deal with Berkshire calls for the giant conglomerate to assume $5.7 billion in debt. The utility will use $3 billion of the proceeds to buy back shares. Dominion also cut its projected 2021 dividend payment to around $2.50 a share, reflecting the assets being divested and a new payout ratio that aligns it better with industry peers.The transaction is expected to close during the fourth quarter. It will require the approval of federal agencies including the U.S. Department of Energy.Berkshire is amassing more than 7,700 miles (12,400 kilometers) of natural gas storage and transmission pipelines and about 900 billion cubic feet of gas storage in the deal with Dominion. Warren Buffett’s conglomerate will also acquire 25% of Cove Point.With this transaction, Buffett has ended his period of relative silence on the acquisition front since the pandemic.The Dominion deal is set to be Berkshire’s largest acquisition ranked by enterprise value since its purchase of Precision Castparts Corp. in 2016. It will expand the company’s already sprawling empire of energy operations, which currently has operations in states including Nevada and Iowa.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Cheesecake Factory® is commemorating its favorite holiday of the year – National Cheesecake Day – by donating $1 to Feeding America for every slice of its more than 30 legendary flavors of cheesecake sold on Thursday, July 30, 2020.* The Cheesecake Factory will also introduce its newest flavor on National Cheesecake Day – Chocolate Caramelicious Cheesecake Made With Snickers®: Original cheesecake swirled with Snickers® on a brownie crust with chocolate, caramel and peanuts.