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How a Small Covid-19 Outbreak in China Is Pushing Toy Prices Higher

  • How a Small Covid-19 Outbreak in China Is Pushing Toy Prices Higher How a Small Covid-19 Outbreak in China Is Pushing Toy Prices Higher 4:54
    Alibaba's Singles Day Gets Boost From Pandemic Spending Shift Alibaba's Singles Day Gets Boost From Pandemic Spending Shift 3:05
5:29 a.m. Oct. 15, 2021 - By Tomi Kilgore
Ford stock gains after China sales report, with Q3 down but year-to-date sales upShares of Ford Motor Co. edged up 0.4% in premarket trading Friday, after the automaker reported overnight third-quarter China vehicle sales that fell from a year ago, amid continued challenges resulting from the semiconductor shortage, but outperformed its U.S. vehicle sales performance by a wide margin. The company said it sold 150,100 vehicles in Greater China during the quarter, down 8.7% from a year ago, while Lincoln brand passenger vehicle sales increased 24%. The year-to-date total has reached 457,000 vehicles, up 11% from the year-ago period. That compares with a 25.8% decline in third-quarter U.S. vehicles sales, with Lincoln-brands sales down 35.8%, according to a MarketWatch analysis of monthly data, and a 7.0% drop in year-to-date sales through September. Ford's stock has soared 75.8% year to date through Thursday, while shares of rival General Motors Co. have rallied 38.5% and the S&P 500 has advanced 16.8%.
4:14 a.m. June 8, 2021 - By Tomi Kilgore
Tesla stock rallies after data showing sales in China rebounded in MayShares of Tesla Inc. rallied 2.9% in premarket trading Tuesday, putting them on track for a third-straight gain, after data out of China showed a rebound in the electric vehicle maker's sales last month. The China Passenger Car Association said overnight that sales of passenger cars in May rose 1% from a year ago to 1.62 million vehicles, while sales of EVs soared 177% to 185,000. Tesla sold , up from 11,671 in April. Tesla also exported 11,527 made-in-Shanghai EVs in May. Wedbush analyst Dan Ives said the numbers suggest Tesla has handled the in China well, as demand rebounded well ahead of expectations. "We believe starting in the month of June Tesla will be on a 300k run-rate for deliveries in China as the growth story appears back on track in this linchpin region despite the skeptics and haters piling on from the month of April, which we continue to view as an anomaly rather than the norm," Ives wrote in a note to clients. He affirmed his outperform rating and $1,000 stock price target. Tesla's stock has gained 7.5% over the past three months through Monday, but has lost 14.3% year to date, while the S&P 500 has climbed 10.6% the past three months and advanced 12.5% this year.
2:52 a.m. May 26, 2021 - By Tomi Kilgore
Pinduoduo's stock jumps after revenue more than triples to beat expectations by wide marginShares of Pinduoduo Inc. shot up 5.1% in premarket trading Wednesday, after the China-based mobile marketplace reported a narrower-than-expected first-quarter loss and revenue that more than tripled to beat expectations. The net loss narrowed to RMB2.91 billion ($443.5 million), or RMB2.33 a share, from RMB4.12 billion, or RMB3.54 a share, compared with the FactSet consensus for net losses per share of RMB3.35. Excluding nonrecurring items, the adjusted loss was RMB1.89 billion, beating the FactSet loss consensus of RMB2.05 billion. Revenue jumped 239% to RMB22.17 billion ($3.38 billion), well above the FactSet consensus of RMB19.82 billion, as average monthly active users grew 49% to 724.6 million and active buyers increased 31% to 823.8 million. Online marketing services revenue rose 157% to RMB14.11 billion and transaction services revenue grew 180% to RMB2.93 billion. Gross profit as a percentage of sales declined to 51.5% from 72.0%. "Our growing scale gives us both greater capacity and responsibility to live up to our mission to 'benefit all'," said Chief Executive Lei Chen. "We envision Pinduoduo as a platform that not only facilitates the trading of goods and services but also serves as a conduit for turning ideas into solutions to everyday problems." The stock has dropped 26.4% year to date through Tuesday, while the iShares MSCI China ETF has edged up 0.4% and the S&P 500 has gained 11.5%.
6:19 a.m. May 13, 2021 - By Tomi Kilgore
Apple stock bounces back above the 200-day moving average, like it did 13 months agoShares of Apple Inc. rallied 2.4% in morning trading Thursday, to bounce back above the 200-day moving average (DMA), one day after closing below the widely watched technical level . The stock was trading recently at $125.72, after closing Wednesday $122.77, while the 200-DMA rose to $123.12 from $122.96. J.P. Morgan analyst Samik Chatterjee reiterated the overweight rating he's had on the stock for at least nearly four years, citing data showing April iPhone sales in China were better than usual seasonal trends, pointing to continued market share gains. The last time Apple's stock spent time below the 200-DMA was during the post-pandemic lows of late-March to early-April last year. At that time, the stock's first close below the 200-DMA was March 16; the stock bounced 4.4% the next day to close back above it, then closed back below it for the next six sessions, and for the next 10 of 13 sessions. The stock has lost 7.1% over the past three months, while the Nasdaq 100 has declined 4.3% and the Dow Jones Industrial Average has gained 8.2%.
3:03 a.m. March 17, 2021 - By Tomi Kilgore
Pinduoduo revenue more than doubles to beat expectations, makes push into groceries, but stock fallsShares of Pinduoduo Inc. fell 3.7% in premarket trading Wednesday, even after the China-based mobile marketplace reported a fourth-quarter loss that narrowed more than expected, as revenue more than doubled to beat forecasts. The net loss narrowed to RMB1.38 billion ($210.9 mln), or RMB1.13 per American depositary share, from RMB1.75 billion, or RMB1.52 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was RMB0.15, beating the FactSet loss consensus of RMB0.29. Revenue jumped 146% to RMB26.55 billion ($4.07 billion), well above the FactSet consensus of RMB19.19 billion, with increase primarily a result of growth in online marketing services and a contribution from merchandise sales. Average active monthly users rose 50% to 719.9 million, while active buyers increased 35% to 788.4 million and annual spending per active buyer grew 23% to RMB2,115.2 ($324.2). The company had started with agricultural products, to become the largest agriculture platform in China, "and we hope that Pinduoduo can one day become the largest grocer in the world," said Chief Executive Lei Chen. The stock has gained 7.3% over the past three months through Tuesday, while the iShares MSCI China ETF has tacked on 5.6% and the S&P 500 has advanced 6.5%.
2:51 a.m. March 9, 2021 - By Tomi Kilgore
Tesla, Nio stocks bounce after upbeat China car sales dataShares of Tesla Inc. bounced 5.6% in premarket trading Tuesday, after tumbling 21.6% amid a five-day losing streak through Monday, after upbeat car sales data out of China. The China Passenger Car Association said while falling 38% from January, to 97,000 EVs. Tesla sold 18,318 EVs in February, which Wedbush analyst Dan Ives said is up 18% form January and puts Tesla's China-based sales "on a strong trajectory" into March. "Considering the Lunar New Year in China, which took up a portion of February, we would characterize these February results as quite impressive and ahead of Street expectations," Ives wrote. He kept his stock price target at $950 and rating at neutral. Separately, shares of China-based EV maker Nio Inc. rallied 5.9% ahead of the open, after plunging 29.2% amid a five-day losing streak through Monday, which followed a 19.7% drop in February. Among other China-based EV makers, shares of XPeng Inc. jumped 6.3% and Li Auto Inc. climbed 5.6%. The stocks' rallies comes as futures for the S&P 500 gained 1.1% ahead of the open.
4:34 a.m. March 2, 2021 - By Tomi Kilgore
XPeng, Li Auto stocks fall after February deliveries data, in wake of Nio's mixed resultsShares of XPeng Inc. slumped 4.5% and Li Auto Inc. slid 2.4% in premarket trading Tuesday, after the China-based electric vehicle makers reported overnight February deliveries data. The stock selloffs come after rival Nio Inc. reported late Monday , sending the stock down 5.4% ahead of the open. XPeng said it delivered 2,223 EVs in February, and said cumulative January and February deliveries rose 577% from year-ago levels. Li Auto said it delivered 2,300 Li ONE EVs in February, up 755% from a year ago. Both companies said February results were affected by the Chinese New Year holiday, and Li Auto said some COVID-19 outbreaks in northern China also impacted results. XPeng said it is witnessing "robust customer demand" as sales and deliveries resumed after the holiday, while Li Auto said it was confident of its growth momentum given the expansion of its direct sales and servicing network and the control of the pandemic in China. Over the past three months, shares of XPeng have tumbled 36.6% and Li Auto have dropped 25.6% through Monday while Nio shares have gained 3.7% and the S&P 500 has tacked on 6.4%.
12:43 a.m. Feb. 5, 2021 - By Barbara Kollmeyer
Chinese coffee chain Luckin files for bankruptcy in New YorkLuckin Coffee filed for Chapter 15 bankrupty in New York, the company said in a statement on Friday. All of its coffee chains will remain open, said Luckin, in a statement. , U.S. securities regulators charged Luckin Coffee with accounting fraud and alleged that the big competitor to Starbucks in China had fabricated sales and misstated other financial metrics to present a more positive profile for investors. American depositary shares of Luckin Coffee had traded on the Nasdaq Composite until mid-July.
5:04 a.m. Jan. 29, 2021 - By Tomi Kilgore
Tesla stock gets second $1,000+ price target, from Argus ResearchThere are now two Wall Street analysts that have targets for Tesla Inc.'s stock of more than $1,000, after Argus Research's Bill Selesky boosted his target by 30% in the wake of the electric vehicle (EV) market leader's . The stock fell 0.6% in premarket trading Friday, after losing 5.4% over the past two days. Selesky reiterated his buy rating and raised his price target to $1,010 from $777. That would make him the second-most bullish on Tesla, of the 37 analysts surveyed by FactSet, behind only Oppenheimer's Colin Rusch, . Selesky said he expects EVs to account for an increasingly larger portion of auto sales, as lower costs for battery packs makes them more affordable to the average car buyer, and Tesla is the "undisputed leader" in the EV space. "We also believe that Tesla is well positioned to expand in the Chinese market and further believe that the incoming Biden Administration will offer rebates and new tax incentives to encourage consumers to buy EVs, which we think favors Tesla versus all the rest," Selesky wrote in a note to clients. The stock has soared 103.4% over the past 30 days through Thursday, while the S&P 500 has gained 14.4%.
11:02 a.m. Jan. 15, 2021 - By Ciara Linnane
Global deaths from COVID-19 top 2 million as U.S. suffers most weekly fatalities since start of the pandemic Weekly deaths exceed CDC’s estimate for flu-related deaths for entire 2019-2020 season The global case tally for the coronavirus-borne illness COVID-19 climbed above 93 million on Friday and the death toll climbed above 2 million, with the U.S. leading all nations by cases and fatalities.
10:15 a.m. Jan. 12, 2021 - By Ciara Linnane
U.S. heads toward 23 million COVID-19 cases as three lawmakers test positive after Capitol lockdown News adds to fears that last week’s attack on the U.S. seat of government created two superspreader eventsThe number of confirmed global cases of the coronavirus-borne illness COVID-19 climbed above 91 million on Tuesday, and the U.S. case tally headed toward 23 million, as three Democratic lawmakers who were forced to shelter in place during last week’s attack on the Capitol tested positive for the virus.
3:55 a.m. Jan. 12, 2021 - By Tomi Kilgore
Nio stock pulls back after Citigroup downgrades on Tesla competition concernsShares of Nio Inc. slipped 1.0% in premarket trading Tuesday, pulling back slightly after back-to-back record closes, after Citigroup analyst Jeff Chung backed away from his bullish stance on the China-based electric vehicle maker, citing concerns over competition from Tesla Inc. . Also pressuring the stock, Nio said late Monday it was offering $1.3 billion in convertible debt, which can be converted after Aug. 1, 2025 to shares or cash. Nio's stock , as investors cheered the unveiling over the weekend of the company's ET7 luxury sedan. "ET7 is good but not enough to make any critical changes from Tesla's challenge," Chung wrote in a note to clients. He estimates that ET7 will only register "limited incremental sales" of 3,000 to 4,000 units per month from the first quarter of 2022, and is likely to be challenged potentially by a Tesla Model-S "facelift" in the future. Tesla's stock rose 2.9% ahead of Tuesday's open, after the stock dropped 7.8% on Monday to snap . Over the past three months, Nio's stock has rocketed 187.0% and Tesla shares have soared 83.4%, while the S&P 500 has gained 7.5%.
10:56 a.m. Jan. 4, 2021 - By Ciara Linnane
U.S. heads toward 21 million COVID-19 cases and 353,000 deaths as vaccine program continues to lag all targets ‘Last mile’ vaccine distribution has been far slower than required, ‘with millions of doses still sitting on the shelves,’ says Raymond James analystThe global case tally for the coronavirus-borne illness COIVID-19 climbed above 85 million on Monday, as the U.S. headed toward 21 million cases and 353,000 deaths, as the vaccine program continued to advance with fits and starts and to lag all early targets.
4:20 a.m. Jan. 4, 2021 - By Jaimy Lee
Inovio to partner with Chinese biotech on COVID-19 vaccine candidate in Greater ChinaShares of Inovio Pharmaceuticals Inc. were up 4.5% in premarket trading on Monday after the company announced a licensing deal with Advaccine Biopharmaceuticals Suzhou Co. Ltd. for its COVID-19 vaccine candidate. As part of the agreement, the privately held Chinese biotech gains exclusive right to develop, manufacture, and commercialize the still-investigational vaccine in China, Hong Kong, Macao, and Taiwan. Advaccine will make an upfront payment of $3 million to Inovio, with additional possible milestone payments up to $108 million. Inovio may receive royalties based on annual net sales in the region if the vaccine is authorized or approved, though the company's COVID-19 vaccine candidate has not been authorized or approved in any countries. A Phase 2 clinical trial in China is currently underway. Inovio's stock has soared 196.9% over the last year, while the S&P 500 is up 16.2%.
10:23 a.m. Dec. 30, 2020 - By Ciara Linnane
U.S. sets record for COVID-19 hospitalizations, as country’s first case of new U.K. variant is found in Colorado Health experts continue to lament slow rollout of vaccines in U.S. after much-ballyhooed authorizations were granted in early December The U.S. set a fresh record for hospitalizations of patients with COVID-19 on Wednesday and the first case of the highly infectious U.K variant of the coronavirus was found in Colorado, as health experts continued to lament the delayed rollout of vaccines that is hampering the economic recovery.
4:11 a.m. Dec. 30, 2020 - By Ciara Linnane
UPDATE: Tesla could reach 500,000 deliveries in 2020 thanks to strength in China, late push in Europe, US: WedbushTesla Inc. could achieve its goal of 500,000 deliveries for 2020, a target that was not on the radar of Wall Street analysts going back to late spring/early summer, thanks to strength in China and a late push in Europe and the U.S., Wedbush analyst Dan Ives wrote in a note published Wednesday. "Based on our initial analysis of demand and the delivery trajectory globally for Tesla in 4Q, it appears Musk & Co. will likely handily exceed Street and internal expectations," Ives wrote. The analyst is expecting fourth-quarter deliveries to come in closer to 190,000 to 200,000 than the 180,000 he called the 'line in the sand.' "Heading into year-end and 2021, we are seeing a major inflection of EV demand globally with our expectations that EV vehicles ramp from ~3% of total auto sales today to 10% by 2025," Ives wrote. "We believe this demand dynamic will disproportionately benefit the clear EV category leader Tesla over the next few years especially in the key China region which we believe could represent ~40% of its EV deliveries by 2022 given the current brisk pace of sales." Ives is expecting "eye-popping" demand from China in 2021 and 2022 across the board and said Tesla's flagship Giga 3 footprint is a major competitive advantage as domestic companies such as BYD, Nio , Xpeng and Li Auto Inc. , are also "firing on all cylinders." "If China stays on its current path for Tesla, Musk & Co. could hit one million delivery units globally by 2022 (currently we are modeling 2023 timeframe)," he wrote. An additional boost could come in the form of increased EV credits under the administration of President-elect Joe Biden, he said. Wedbush rates Tesla as neutral with a $715 12-month price target and a bull case of $1,000. Tesla shares reversed early premarket losses to gain 1.1%, and have gained 696% in 2020, while the S&P 500 has gained 15%.
9:44 a.m. Dec. 29, 2020 - By Ciara Linnane
WHO says coronavirus pandemic is ‘not the big one’ the world needs to brace for ‘[O]ne thing we need to take from this pandemic, with all of the tragedy and loss, is we need to get our act together. We need to honor those we’ve lost by getting better at what we do every day,’ says WHO expert.The global case tally for the coronavirus-borne illness COVID-19 climbed above 81.5 million on Tuesday, and the World Health Organization said the pandemic is not necessarily the big one that the world should brace for and urged leaders everywhere to learn from this crisis.
4:19 a.m. Dec. 14, 2020 - By Tomi Kilgore
XPeng's stock surges after bullish call from Deutsche Bank analystShares of XPeng Inc. surged 3.4% in premarket trading Monday, after Deutsche Bank analyst Edison Yu's bullish call on the China-based electric vehicle maker. Yu started coverage of XPeng with a buy rating and $58 stock price target, which is 30.9% above Friday's closing price of $44.31. He said Yu was part of the "Fab Four" China-based EV makers, which also include Nio Inc. , Li Auto Inc. and WM Motor Technology Group Co. Ltd., that represent an emerging class of auto makers backed by large technology companies and local governments looking to disrupt the auto industry. "[W]e believe our thesis has been playing out both on the ground as sales and brand awareness grow, and in the capital markets where all four companies have seen their valuations rise considerably," Yu wrote in a note to clients. "Along with Tesla , we believe these automakers are increasingly destined to conquer the Chinese auto market, supported by an investor base who is eagerly willing to support this endeavor, leading us to expect multiple winners in the new EV world order." XPeng's stock has soared 116.4% over the past three months, while the S&P 500 has gained 8.3%.
10:55 a.m. Dec. 11, 2020 - By Ciara Linnane
U.S. suffers its worst week of cases, deaths and hospitalizations since the start of the pandemic CDC head warns U.S. will see more deaths every day for next few months than died on Sept. 11, 2001, or in the attack on Pearl HarborThe U.S. suffered its worst week for cases, deaths and hospitalizations with the coronavirus illness COVID-19, as the Food and Drug Administration said it would grant emergency use authorization to the vaccine developed by Pfizer Inc. and its Germany partner BioNTech SE.
10:22 a.m. Dec. 10, 2020 - By Ciara Linnane
U.S. sets record one-day death toll from coronavirus as FDA committee meets to review Pfizer–BioNTech vaccine FDA head says initial assessment is ‘this is a vaccine that does meet our criteria. ... But we do want to hear from the vaccine advisory committee.’The U.S. set fresh records for single-day fatalities from the coronavirus illness COVID-19 and hospitalizations, as a U.S. regulatory advisory committee gathered to offer its verdict on the vaccine developed by Pfizer Inc. and its German partner BioNTech SE.
10:26 a.m. Dec. 9, 2020 - By Ciara Linnane
U.S. coronavirus case tally climbs to 15 million from 14 million in just five days U.S. sets fresh record for COVID-19 hospitalizations; Angela Merkel pleads with Germans to limit gatherings during holidaysThe global case tally for the coronavirus illness COVID-19 climbed above 68 million on Wednesday and the U.S. tally rose above 15 million as the virus continued to race across the nation, filling hospitals with record numbers of patients
10:11 a.m. Dec. 9, 2020 - By Tomi Kilgore
JinkoSolar's stock falls after plans for $100 million ADS offeringShares of JinkoSolar Holding Co. dropped 9.4% toward a 2-month low, after the China-based solar module maker announced plans for a $100 million equity offering. The company said late Tuesday that it may sell the American depositary shares (ADS) from time to time, at market prices or at prices negotiated with its sales agents. Based on current share prices, $100 million worth of ADS represents about 3.9% of JinkoSolar's market capitalization of $2.56 billion, according to FactSet data. The offering plan comes after the shares have soared 172.4% over the past three months, while the iShares MSCI China ETF has gained 7.8% and the S&P 500 has advanced 7.9%.
4:36 p.m. Dec. 8, 2020 - By Ciara Linnane
U.S. suffers deadliest week from coronavirus since pandemic broke out A group of doctors and scientists urge leaders to follow the science and stop the misinformation that has undermined the U.S. response to the crisisThe U.S. has set another grim milestone in the coronavirus pandemic, averaging the most deaths from COVID-19 in a week since the start of the outbreak, as cases continue to rise across the country and hospitals fill with patients
11:00 a.m. Dec. 4, 2020 - By Ciara Linnane
CDC forecasts up to 19,500 deaths from COVID-19 in week ending Dec. 26 ‘People were less willing to change their behavior than any other day during the pandemic,’ data analyst says of Thanksgiving DayThe U.S. set yet another record for new cases and fatalities in a single day from the coronavirus illness COVID-19 and the nation’s leading public health agency said there could be up to 19,500 deaths in the week ended Dec. 26.
1:12 p.m. Dec. 3, 2020 - By Ciara Linnane
U.S. posts record one-day COVID death toll — before the predicted post-Thanksgiving surge December, January and February will be the ‘most difficult time in the public health history of this nation, largely because of the stress that it’s going to put on our health-care system,’ says CDC head Robert RedfieldThe U.S. hit some grim milestones in the coronavirus pandemic in a single day Wednesday, with a record number of fatalities and more than 100,000 COVID-19 patients in hospitals for the first time since the start of the outbreak, as a leading public health official warned of a cold, hard winter to come.
8:10 a.m. Dec. 2, 2020 - By Michael Ashbaugh
Charting a bullish December start: S&P 500, Nasdaq tag latest record highs Focus: QQQ challenges record highs, Gold maintains major support, Alphabet’s breakout attempt, QQQ, GLD, GOOGL, ADI, EXAS, GMEU.S. stocks are mixed early Wednesday, largely treading water in the wake of an otherwise strong December start. Against this backdrop, the S&P 500 and Nasdaq Composite have concurrently broken to record highs, extending persistent late-year rallies to previously uncharted territory.
9:01 a.m. Nov. 30, 2020 - By Tomi Kilgore
Kandi's stock tumbles after short seller Hindenburg takes aim at China-based EV makerShares of Kandi Technologies Group Inc. tumbled 24.5% in active midday trading Monday, after short seller Hindenburg Research took aim at the China-based electric vehicle maker, alleging a "brazen scheme" to "falsify revenue using fake sales to undisclosed affiliates. Trading volume spiked to 29.5 million shares, already nearly double full-day average of about 15.0 million shares. The stock has now plunged 31.1% since closing at a 6-year high of $14.93 a week ago. Hindenburg said it's investigation into the company's factories and customer locations found that most of Kandi's sales to its top customers over the last 12 months (LTM) have been to related parties. The largest customer representing 55% of LTM sales shares a phone number with a Kandi subsidiary and an executive with Kandi, Hindenburg said. The report also said that on a visit to the customer's location, a sign indicating it was a Kandi company was found. Kandi declined a MarketWatch request for comment. Despite Monday's selloff, Kandi's stock has still rallied 64.2% in November, while the iShares MSCI China ETF has edged up 3.1% and the S&P 500 has gained 10.6%.
5:06 a.m. Nov. 30, 2020 - By Tomi Kilgore
China Automotive's stock nearly doubles after update on power-steering product sales to EV makersShares of China Automotive Systems Inc. skyrocketed 96.9% on heavy volume, to pace all premarket gainers on Monday, after the Wuhan, China-based company said so far this yaer it has shipped about 120,000 of its electric power-steering products for use in electric vehicles made in China. Trading volume swelled to 3.9 million share, compared with the full-day average of about 171,000 shares. The company said it expects to sell over 140,000 units of its steering products this year, and about 200,000 units next year. Among the electric vehicle makers the company sells to are SUV and truck maker Great Wall Motors, state-owned auto maker Chery Automobile, Beijing Auto, JAC Motors and Dongfeng Auto and Hozon Auto. China Automotive noted that sales of China-made EVs about doubled from a year ago to 144,000 units in October, and China's government has set and EV car target of 25% of all new cars by 2025. China Automotive's stock has run up 43.5% over the past three months through Friday, while the iShares MSCI China ETF has gained 6.7% and the S&P 500 has edged up 3.7%.
10:55 a.m. Nov. 25, 2020 - By Ciara Linnane
Hospital workers called exhausted as U.S. records highest number of COVID deaths since May Parts of Europe are reporting declining cases and Sicily has asked Cuba to send doctors and nursesThe U.S. recorded the highest number of deaths from the coronavirus illness COVID-19 since May on Tuesday, and continues to average close to 200,000 new cases a day, with hospitals across the nation reporting exhausted health care workers and steadily filling intensive care units.
11:10 a.m. Nov. 24, 2020 - By Ciara Linnane
U.S. is ‘in the middle of the Fight of the Century,’ says former CDC head as cases rise in 45 states, hospitalizations set record U.S. has averaged 173,147 cases a day in the past week, and more than 85,000 COVID-19 patients are in a hospitalThe U.S. case tally from the coronavirus illness COVID-19 climbed above 12.84 million on Tuesday and hospitalizations again reached record levels, with 45 states reporting rising infections.
10:58 a.m. Nov. 23, 2020 - By Ciara Linnane
U.S. coronavirus case tally tops 12 million amid growing fears that Thanksgiving travel will spark another surge of infections ‘Four days before a holiday with potentially the most indoor and in-person gatherings of the year in the U.S., the virus is here and more prevalent than ever,’ says one analystThe global case tally for the coronavirus illness COVID-19 rose to 58.8 million on Monday and the U.S. tally rose above 12 million, with new daily infections heading toward 200,0000 a day amid growing fears that Thanksgiving travel will spark another surge.
7:32 a.m. Nov. 21, 2020 - By Ciara Linnane
U.S. moves closer to 200,000 daily COVID cases; Birx and Fauci urge Americans to follow safety measures over Thanksgiving Fauci at press briefing: ‘If you’re fighting a battle, and the cavalry is on the way, you don’t stop shooting. You keep going until the cavalry gets here.’The global case tally for the coronavirus illness COVID-19 climbed above 57 million on Friday, and the U.S. moved closer to 200,000 cases in a day and set a fresh record for hospitalizations as the virus continues to infect people in every state and region.
10:44 a.m. Nov. 17, 2020 - By Ciara Linnane
Coronavirus update: Republican governors are dropping resistance to face masks as infections soar and hospital beds fill ‘If Iowans don’t buy into this, we’ll lose. Businesses will close once again, more schools will be forced to go online, and our health-care system will fail,’ warns Gov. Kim ReynoldsThe global tally for the coronavirus illness COVID-19 rose above 55 million on Tuesday and the U.S. tally climbed above 11.2 million, with rising infections and shortages of hospital beds leading some Republican governors to drop their resistance to face masks and issue mandates.
1:11 p.m. Nov. 16, 2020 - By Claudia Assis
Baidu swings to Q3 profit, citing 'recovery' in ChinaAmerican depositary receipts of Baidu Inc. rose 1% in after-hours Monday after the Chinese internet giant reported a third-quarter profit above Wall Street expectations and said it had been able to sidestep China's second COVID-19 wave. Baidu said it earned $2 billion, or $5.86 per ADR, in the quarter, reversing a loss of $2.63 per ADR in the year-ago period. Adjusted for one-time items, Baidu gained $1.03 billion, or $3 a share, the company said. Sales rose 1% to $4.16 billion. Analysts polled by FactSet expected Baidu to report adjusted earnings per ADR of $1.99 on sales of $4.16 billion. "Our revenue growth turned positive in the third quarter with many advertising verticals turning around, putting Baidu in a good position to further benefit from a recovery in the Chinese economy," the company said in a statement. "Our team executed in the third quarter with top line growth, resilient profitability and strong cash flow, a testament to the durability of Baidu's business, despite China experiencing a second wave of COVID-19 in July." In a separate statement late Monday, Baidu said it has agreed to buy Joyy Inc.'s entertainment live-streaming business in China, YY Live, for about $3.6 billion in cash, subject to adjustments. The deal is expected to close in the first half of 2021. "Baidu has built a vibrant mobile ecosystem in the past few years to enable the fast growth of our non-advertising revenues," Baidu co-founder and Chief Executive Robin Li said. "This transaction will catapult Baidu into a leading platform for live streaming and diversify our revenue source."
12:50 p.m. Nov. 16, 2020 - By Ciara Linnane
Coronavirus update: U.S. averaging 150,000 COVID-19 cases a day as expert warns of pending ‘humanitarian catastrophe’ Experts are worried that President Trump’s refusal to concede election could cause more cases, hospitalizations and deathsThe global case tally for the coronavirus illness COVID-19 climbed above 54.5 million on Monday, while the U.S. tally topped 11 million after adding 1 million new cases in six days, with 50 states and territories recording rising numbers and the virus showing no sign of slowing.
2:12 a.m. Nov. 16, 2020 - By Tomi Kilgore
JD.com's stock gains after profit, revenue rise above expectationsShares of JD.com Inc. rose 1.3% in premarket trading Monday, after the Beijing-based e-commerce company reported third-quarter profit and sales that rose above expectations. Net income rose to RMB7.6 billion ($1.1 billion), or RMB4.70 per American depositary shares, from RMB600 million, or RMB0.41 per ADS, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to RMB3.42 from RMB2.08, above the FactSet consensus of RMB2.71. Revenue grew 29.2% to RMB174.2 billion ($25.7 billion), beating the FactSet consensus of RMB169.72 billion, as sales of general merchandise increased 34.8% to RMB58.1 billion and net service revenue rose 42.7% to RMB22.8 billion. Annual active customer accounts increased 32.1% to 441.6 million in the 12 months ended Sept. 30, and fulfilled gross margin improved to 8.7% from 8.4%. "Today, as China emerges from the pandemic, we are glad to see that our business partners are recovering rapidly with the support of our online and offline supply chain infrastructure," said Chief Executive Richard Liu. The stock has soared 48.4% over the past three months, while the iShares MSCI China ETF has advanced 11.3% and the S&P 500 has gained 6.3%.
12:24 p.m. Nov. 13, 2020 - By Ciara Linnane
Coronavirus update: U.S. again shatters daily case record as experts worry holidays will be superspreader event ‘Unless people celebrate safely, we will see a huge increase about two weeks after Thanksgiving and then again two weeks after Christmas,’ says epidemiologist Dr. Tista GhoshThe U.S. shattered records for daily cases of the coronavirus illness COVID-19 and hospitalizations on Friday, as states and cities announced new restrictions while others warned that full lockdowns may be needed to contain the spread.
9:56 a.m. Nov. 12, 2020 - By Ciara Linnane
Coronavirus update: U.S. sets sixth new case record in eight days and more than 65,000 COVID-19 patients are in hospitals for first time U.K. is first European country with more than 50,000 deathsJust one week after the U.S. surpassed 100,000 COVID-19 cases in a single day for the first time, it has set a one-day record of almost 143,000, while hospitalizations rose above 65,000 for the first time since the start of the outbreak.
10:29 a.m. Nov. 11, 2020 - By Ciara Linnane
Coronavirus update: U.S. sets record for hospitalizations with 17 states at peak levels; ‘Wisconsin,’ pleads Gov. Tony Evers, ‘this is serious!’ North Dakota’s hospital system is at 100% capacity, and state is allowing health-care workers who have tested positive to stay on the job and treat COVID patientsThe U.S. case tally for the coronavirus illness COVID-19 climbed above 10.3 million on Wednesday, as hospitalizations set a record with Midwest hospitals now fuller than the South was during its summer peak.
10:22 a.m. Nov. 10, 2020 - By Ciara Linnane
Coronavirus update: U.S. adds another 130,000 cases in a day: ‘This is what exponential math looks like,’ says expert Per capita new case numbers are highest in North Dakota, South Dakota, Iowa and Wisconsin, filling hospitals and raising concerns that systems will be overwhelmed The global tally of confirmed cases of the coronavirus illness COVID-19 climbed above 51 million on Tuesday with cases racing across the U.S. and Europe as more localities opted to impose restrictions on movement to curb the spread.
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