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10:30 a.m. Sept. 15, 2021 - By Victor Reklaitis
Biden to announce deal with U.K., Australia on sharing defense technology: reportsPresident Joe Biden on Wednesday will announce a new effort with the U.K. and Australia to share advanced defense technologies in a bid to counter China, according to reports from and . The White House said Biden is due to speak at 5 p.m. Eastern on a "national security initiative," and he will be joined virtually by U.K. Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison.
2:34 a.m. Sept. 15, 2021 - By Tomi Kilgore
Procept BioRobotics upsized IPO prices above the expected range, valuing company at $1 billionProcept BioRobotics Corp. is set to go public Wednesday, as the California-based surgical robotics company's upsized initial public offering priced above the expected range at $25.00 per share. The company sold 6.56 million shares in the IPO to raise $163.9 million. Procept had previously expected to offer 5.5 million shares in the IPO, which was projected to price between $22 and $24 per share. The stock is expected to begin trading Wednesday on the Nasdaq under the ticker symbol "PRCT." With 41.21 million shares outstanding after the IPO, the pricing values Procept at $1.03 billion. BofA Securities and Goldman Sachs are the joint lead bookrunning managers. The company had recorded a net loss of $27.4 million on revenue of $15.7 million in the six months ended June 30, after a loss of $25.7 million on revenue of $2.4 million in the same period a year ago. The company is going public at a time that the Renaissance IPO ETF has gained 7.4% over the past three months while the S&P 500 has tacked on 4.6%.
11:05 a.m. Sept. 14, 2021 - By Tomi Kilgore
Globalstar's stock takes a dive after Apple didn't say its new iPhone supports satellite communicationsShares of Globalstar Inc. took an afternoon dive Tuesday, as investors expressed disappointment that Apple Inc. did not say its new iPhone 13s would support satellite communications. The mobile satellite services company's stock sank 19.4%, after being down 5.3% just before the start of . The , after the that Apple would work with Globalstar as it added satellite communications to its next iPhone. The stock had climbed another 14.5% from Aug. 30 to the five-year closing high of $2.69 on Sept. 8, before pulling back. The stock has still rocketed 442.9% year to date, while the S&P 500 has advanced 18.3%.
7:10 a.m. Aug. 17, 2021 - By Jon Swartz
CES will require proof of vaccination to attend in January 2022The biggest of U.S. tech shows on Tuesday announced that proof of vaccination is necessary for in-person attendance. CES, the Super Bowl of tech confabs that takes place in Las Vegas in early January, is planning a hybrid version. The weeklong event, last held with people in 2020, usually draws more than 100,000. "Based on today's science, we understand vaccines offer us the best hope for stopping the spread of COVID-19," Gary Shapiro, chief executive of Consumer Technology Association, which puts on the show, said in a statement. "We all play a part in ending the pandemic through encouraging vaccinations and implementing the right safety protocols. We are taking on our responsibility by requiring proof of vaccination to attend CES 2022 in Las Vegas."
4:39 a.m. Aug. 2, 2021 - By Tomi Kilgore
Velodyne Lidar Chairman Joseph Culkin steps down from role for health reasonsVelodyne Lidar Inc. said Monday that Joseph Culkin will step down as chairman of the board for health reasons, but will remain an "active" director of the board. Culkin co-founded Velodyne Lidar's predecessor company, Velodyne Acoustics, and has been on Velodyne Lidar's board since September 2016. The company named board member Michael Dee as Chairman. Dee was Chief Financial Officer of Graf Industrial Corp., which was the special purpose acquisition company (SPAC) that Velodyne Lidar merged with in September 2020 to go public. Velodyne Lidar's stock, which rose 1.8% in premarket trading Monday, has plunged 64.9% year to date, while shares of competitor Luminar Technologies Inc. have plummeted 45.9% and the S&P 500 has gained 17.0%.
4:21 a.m. June 4, 2021 - By Tomi Kilgore
Apple stock on track for longest weekly losing streak in more than 2 1/2 yearsShares of Apple Inc. edged up 0.3% in premarket trading Friday, but remained on track to suffer a sixth-straight weekly loss, ahead of the technology giant's Worldwide Developers Conference (WWDC) next week. That would be the longest such loss streak since the eight-week stretch through the week ended Nov. 23, 2018. The stock needs to gain 0.9% Friday, to at least $124.61, to snap the weekly loss streak. The stock has lost 8.0% during the current streak through Thursday, and has lost 13.7% since the Jan. 26 record close of $143.16. In comparison, the Dow Jones Industrial Average has run up 11.8% since Jan. 26. Apple has been , in which "Fortnight" maker Epic Games Inc. filed an antitrust lawsuit citing monopolistic practices by Apple's App Store. Separately, Wedbush analyst Dan Ives said in a recent note to clients that Apple will likely introduce a new Mac product at Monday's WWDC, as well as iOS upgrades and software enhancements.
7:50 a.m. April 27, 2021 - By Victor Reklaitis
All of President Biden’s key executive orders — in one chart Memorandums, proclamations, other executive actions also deployed Memorandums, proclamations, other executive actions also deployed As people and markets around the world adjust to having Joe Biden as U.S. president, a key factor is what the veteran Democratic politician aims to accomplish without having to work with Congress.
9:47 a.m. April 8, 2021 - By Victor Reklaitis
Biden officials to meet with companies on chip shortage next weekWhite House press secretary Jen Psaki on Thursday said National Economic Council Director Brian Deese and National Security Advisor Jake Sullivan will lead a meeting next week "with a number of companies" on the ongoing semiconductor . "It's part of our consulting processes. We're working to address an issue that's impacting a range of industries," Psaki told reporters. She also said the White House would release more details on the meeting "hopefully by tomorrow."
7:33 a.m. March 4, 2021 - By Tomi Kilgore
Moderna, IBM explore blockchain tech, AI to support 'smarter' management of COVID-19 vaccinesModerna Inc. and International Business Machines Corp. announced Thursday plans to work together to find technologies to support "smarter COVID-19 vaccine management." The technologies the companies will explore include artificial intelligence, blockchain and hybrid cloud, the companies said. "Moderna is committed to working with a coalition of partners to increase education and awareness of the importance of vaccination to help defeat COVID-19," said Michael Mullette, a managing director of North America commercial operations at Moderna. "We look forward to working with IBM to apply digital innovations to build connections between organizations, governments, and individuals to instill confidence in COVID-19 vaccines." Moderna's stock rose 1.6% in midday trading and IBM shares fell 0.7%, while the Dow Jones Industrial Average gained 118 points, or 0.4%. Moderna currently has one of three COVID-19 vaccines granted emergency use authorization by the Food and Drug Administration, the others being from Pfizer Inc. and BioNTech SE and Johnson & Johnson .
8:43 a.m. March 1, 2021 - By Tomi Kilgore
Cree stock surges after BofA says buy the chip maker that's 'turbocharging EVs'Shares of Cree Inc. surged 3.1% in midday trading Monday, after BofA Securities analyst Vivek Arya recommended investors buy, saying the special semiconductor materials maker is "turbocharging EVs" (electric vehicles). Arya initiated coverage of Cree with a buy rating and $140 stock price target, which is well above the Feb. 11 record closing price of $128.28. Arya said he sees Cree as a "critical enabler" in the transformation of the silicon-based, roughly $45 billion power chip market towards next-generation SiC/GaN, or wide band-gap (WBG) materials. Arya noted that power converters based on SiC are lighter and smaller, with 10-times the switching efficiency and three-times the power density of silicon. "Cree's Wolfspeed business is a global leader with 60%+ share in substrates for Silicon Carbide (SiC) -- the next-gen material driving efficient power conversion in battery powered EVs and charging infrastructure," Arya wrote in a note to clients. "Separately, Cree's exposure to Gallium Nitride (GaN) materials/devices also provides strong growth in 5G base station and industrial markets." The stock has soared 30.3% over the past three months, while the PHLX Semiconductor Index has climbed 16.1% and the S&P 500 has gained 6.5%.
5:13 a.m. Feb. 22, 2021 - By Tomi Kilgore
Battery maker Enovix to go public, after $1.1 billion merger deal with SPAC Rodgers Silicon Valley AcquisitionCalifornia-based Enovix Corp., which makes 3D silicon lithium-ion batteries, is going public through a merger with special purpose acquisition company Rodgers Silicon Valley Acquisition Corp. , in a deal representing an estimated enterprise value of $1.13 billion. Under terms of the deal, Enovix will receive about $385 million in cash. Once the deal closes, which is expected to occur in the second quarter of 2021, the combined company will be named Enovix Corp. and the stock is expected to list on the Nasdaq under the ticker symbol "ENVX." Rodgers Silicon's stock, which went public on Jan. 4, 2021, soared 28.1% in premarket trading. "In my career, I have seen many claims of battery breakthroughs. But Enovix stands apart in that it has actually sampled cells based on its innovative architecture with leading customers and has a credible plan to manufacture at scale," said Enovix board member Greg Reichow. "Enovix has already delivered batteries with record-setting energy densities to customers and will do so at scale as soon as next year." The company is going public at a time that the Renaissance IPO ETF has rallied 26.8% over the past three months while the S&P 500 has gained 9.8%.
8:41 a.m. Feb. 18, 2021 - By Tomi Kilgore
Seagate Technology's stock surges toward a record after double upgrade at BofAShares of Seagate Technology PLC jumped 2.1% toward a record high in midday trading Thursday, to buck the selloff in its technology peers and the broader stock market, after BofA Securities analyst Wamsi Mohan swung to bullish from bearish on the data storage company, citing the nearing of an "inflection" in revenue trajectory and industry profitability. Mohan raised his rating to buy from underperform, while lifting his stock price target to $90 from $54. He said he expects capacity additions to moderate, pricing to normalize and mass capacity hard-disk drives (HDD) to drive improvement in revenue, mix and margins. Among other reasons for his about-face on Seagate, he expects a transition to becoming a pure-play cloud story, with continued strong demand from cloud-service providers. "Years of preemptively adding capacity in anticipation of demand depressed HDD prices as [Seagate] and [Western Digital Corp.] competed for market share," Mohan wrote in a note to clients. "At its upcoming analyst day, we expect [Seagate] to communicate a more disciplined approach to CapEx given recognition that the industry historically has grappled with excess capacity." Seagate's stock gains come as the SPDR Technology Select Sector ETF slid 1.2% and the S&P 500 shed 0.8%.
10:36 a.m. Feb. 9, 2021 - By Tomi Kilgore
Applied UV stock skyrockets six-fold in volatile trading after closing Airocide System purchaseShares of Applied UV Inc. soared virtually six-fold in volatile, active trading Tuesday, after the New York-based company, which applies ultraviolet light to destroy airborne pathogens, announced the closing of an acquisition of almost all of the assets of Akida Holdings LLC. The acquisition, by Applied UV's subsidiary SteriLumen Inc., includes all of the rights to make and sell the Airocide System of air disinfection and purification technologies. The stock skyrocketed 497.6% in afternoon trading, to pace all gainers on major U.S. exchanges. Trading volume of 102.8 million shares compares with the full-day average of about 326,000 shares over the past 30 days. The stock has been since the open. When Applied UV from Akida on Nov. 9, the stock rose 1.3% on volume of about 630,000 shares that day. The latest data show that short interest of 28,070 shares was about 1% of the public float. The stock, which started trading on Aug. 31, 2020, has now rallied 384.4% over the past three months while the S&P 500 has gained 10.3%.
7:21 a.m. Jan. 18, 2021 - By Quentin Fottrell
The No. 1 job in America pays $100,000 a year — and it’s not in Silicon Valley The annual ‘best jobs’ rankings are based on salary, openings, work-life balance, and stress levelThe annual ‘best jobs’ rankings are based on salary, openings, work-life balance, and stress level.
10:11 a.m. Jan. 15, 2021 - By Tomi Kilgore
3D Systems stock pulls back from a near 6-year high after J.P. Morgan analyst turns bearishShares of 3D Systems Corp. tumbled 11% in afternoon trading Friday, after J.P. Morgan analyst Paul Coster turned bearish on the 3D printing company, citing an "unfavorable" risk-versus-reward profile at current prices. The stock has skyrocketed more than four-fold (up 329.7%) over the past three months, to close Thursday at the highest price since April 2015, while the S&P 500 has gained 8.5%. Coster cut his rating to underweight from neutral, but raised his price target to $18, which is 37% below current levels, from $14. He said a strong rebound in the economy will raise activity levels in 3D printing, especially in the auto and aerospace markets, and in the elective surgery and dental markets once the pandemic passes, but he said that view is likely already priced into the stock. He also downgraded fellow 3D printer maker Stratasys Ltd. to underweight from neutral, and the stock fell 2.4% after closing Thursday at the highest price since July 2015.
9:14 a.m. Dec. 24, 2020 - By Tomi Kilgore
Alibaba stock suffers record fall after antitrust probe in China Stock slides into bear-market territory, while Raymond James analyst said it remains a buyShares of Alibaba Group Holding Ltd. tumbled Thursday to the lowest close in nearly six months, after Chinese regulators launched an antitrust investigation into the e-commerce giant.
7:50 a.m. Dec. 24, 2020 - By Cody Willard
Watch out for all the bad penny stocks that are skyrocketing Updated ratings of some of the Revolution Investing portfolioUpdated ratings of some of the Revolution Investing portfolio
5:02 a.m. Dec. 24, 2020 - By Tomi Kilgore
SolarWinds releases updates in response to SUPERNOVA hackSolarWinds Corp. said Thursday that it has released updates in response to the "SUPERNOVA" malware, which the company said was deployed through an exploitation of a vulnerability in its Orion Platform. The information-technology management software company's stock rose 0.4% in premarket trading Thursday. The stock had tumbled 32% from Dec. 11 through Wednesday, following news of believed to be connected to a Russian group. SolarWinds said it provided two "hotfix updates" that contained security enhancements, including those designed to prevent certain versions of its Orion Platform products from being exploited in a SUPERNOVA attack. The stock has lost 16.4% over the past three months through Wednesday, while the S&P 500 has gained 13.7%.
4:52 a.m. Dec. 22, 2020 - By Tomi Kilgore
EV maker Canoo's stock set to surge under new ticker symbol 'GOEV'Canoo Holdings Ltd., a Los Angeles-based electric vehicle (EV) maker, said Tuesday it has with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp., so its stock will now begin trading on the Nasdaq under the ticker symbol "GOEV." The stock is surging 12.9% in premarket trading. "This next chapter is a very important one for Canoo as we prepare to complete advanced testing of our innovative electric mobility platform and to bring our recently unveiled multi-purpose delivery vehicle to limited production in 2022, and to commercial production and rollout in 2023," said Canoo Executive Chairman Tony Aquila. The new EV stock's rally comes on a mixed day for other U.S.-based EV makers ahead of Tuesday's open, with shares of market leader Tesla Inc. up 0.3%, Nikola Copr. down 0.9% and Workhorse Group Inc. up 2.0%. Meanwhile, futures for the S&P 500 are up 0.2%.
2:20 a.m. Dec. 16, 2020 - By Tomi Kilgore
Luminar's stock bounces after company and Mobileye said collaboration remains 'full speed ahead'Shares of Luminar Technologies Inc. bounced 4.4% in premarket trading Wednesday, after the maker of autonomous vehicle sensor and software maker said its collaboration with Intel Corp.'s Mobileye remained "full speed ahead." The companies "clarified" their deal announced on Nov. 20, after Luminar's stock plunged 17.6% on Tuesday as a Reuters report that Mobileye planned to develop its own sensors. On Wednesday, Luminar said it is providing its technology to Mobileye for its Autonomous Vehicle series, its technology will be used to enable Mobileye's True Redundancy capability and the companies have been working together for nearly two years and signed in November a contract in which Luminar provides Mobileye lidar production volumes at sub-$1,000 cost. "In tandem, Mobileye has independently been working on silicon photonics based lidar that could be part of our future solutions," said Mobileye Chief Executive Amnon Shashua. "This has been public for some time and does not change our plans to use Luminar." Luminar's stock, which has plummeted 45.3% amid a five-day losing streak through Tuesday, has still soared 80.5% over the past three months while the S&P 500 has gained 9.1%.
4:48 a.m. Dec. 1, 2020 - By Tomi Kilgore
BlackBerry's stock soars after development agreement with Amazon's AWSShares of BlackBerry Ltd. soared 34.6% in active premarket trading Tuesday, after the security software services company and Amazon.com Inc.'s Amazon Web Services Inc. cloud business announced a "multi-year, global agreement" to develop BlackBerry's Intelligent Vehicle Data Platform, IVY. Trading volume reached 2.4 million shares before the open, already more than half the full-day average of about 3.8 million shares. BlackBerry's IVY will allow automakers to provide a secure way to read vehicle sensor data and create insights from that data. Automakers can then use that data to create in-vehicle services. The companies did not provide any financial terms of the agreement. "Data and connectivity are opening new avenues for innovation in the automotive industry, and BlackBerry and AWS share a common vision to provide automakers and developers with better insights so that they can deliver new services to consumers," said BlackBerry Chief Executive John Chen. BlackBerry's stock has gained 5.2% over the past three months through Monday, while the S&P 500 has tacked on 2.7%.
5:13 a.m. Nov. 23, 2020 - By Georgia Wells
Snap counters TikTok with Spotlight video-sharing feature New service pushes owner of Snapchat into fraught but potentially lucrative business of viral contentSnap Inc. is launching a video-sharing feature to rival TikTok, a move that will for the first time let its users produce content with hopes of it going viral.
8:12 a.m. Nov. 20, 2020 - By Andrea Riquier
Work-from-home ETFs rally on COVID lockdown measuresExchange-traded funds that track companies that enable remote work, play, education and health care outperformed Friday as investors sought safety in market segments that will benefit from economic restrictions intended to slow the spread of COVID-19. The WisdomTree Cloud Computing Fund was up 1.6% at midday, while the First Trust NASDAQ Cybersecurity ETF and the Direxion Work From Home ETF both gained 1.4%. The iShares Cybersecurity & Tech ETF added 1.3%. The broader stock market was about 0.2% lower. Market participants had recently rotated away from the work-from-home names that powered the stock-market rally though the year as drugmakers reported progress toward a vaccine and as valuations for pandemic winners became increasingly stretched. In the year to date, WCLD has gained 82%, while IHAK and CIBR are up about 26%. Another category winner, the Global X Cloud Computing ETF , has gained 59% in the year to date, but lagged on Friday, up only 1.1% for the day.
9:20 a.m. Nov. 3, 2020 - By Victor Reklaitis
Here are the Senate races to watch, as Democrats battle to take control from Republicans Democrats need a net gain of 4 seats to take control of the Senate — or just 3 seats if Joe Biden wins the presidential raceIf Democrats take control of the U.S. Senate, that could shake up key sectors such as tech, health care, finance and energy — especially if today’s election brings a “blue wave” that puts Joe Biden in the White House.
7:47 a.m. Oct. 26, 2020 - By Quentin Fottrell
With an election looming and no end in sight for COVID-19, Americans admit to reading news they don’t trust. Why? ‘Most find it difficult to know if campaign information is true and they are unable to determine trusted sources to turn to for help’‘Most find it difficult to know if campaign information is true and they are unable to determine trusted sources to turn to for help.’
8:36 a.m. Oct. 15, 2020 - By Victor Reklaitis
Trump says Twitter and Facebook like 'a third arm of the DNC'President Donald Trump on Thursday attacked social-media companies after Twitter on Wednesday on Hunter Biden, who is Democratic presidential nominee Joe Biden's son. He said Twitter and Facebook are like "a third arm of the DNC," referring to the Democratic National Committee. "It's going to all end up in a big lawsuit, and there are things that can happen that are very severe," Trump also said.
4:01 a.m. Oct. 13, 2020 - By Daniel Newman
An AMD-Xilinx deal would be fraught with more risk than the Nvidia-Arm tie-up Nvidia’s opportunity with Arm Holdings is clear. At AMD, there are more open questions if it buys Xilinx Nvidia’s opportunity with Arm Holdings is clear. At AMD, there are more open questions if it buys Xilinx.
1:02 a.m. Oct. 13, 2020 - By Gregory Karp
Why you should switch to contactless pay: It’s more secure, and you don’t have to touch germy money or terminals Get with the program: Americans have been slow to adopt touch-free payments. Here’s 3 types you can useIf you’re looking for a self-improvement task, learn to use contactless payments with your phone or credit cards
4:24 a.m. Oct. 3, 2020 - By Matthew Conlon
‘Endurance is more difficult than aggression’: Love, death, coronavirus and political division in the Hamptons ‘We Americans lack social willingness. We’re independent, defiant, and we won’t be told what to do. One might call it selfish, impetuous,’ Matthew Conlon writes‘We Americans lack social willingness. We’re independent, defiant, and we won’t be told what to do. One might call it selfish, impetuous,’ Matthew Conlon writes.
7:32 a.m. Oct. 2, 2020 - By Jurica Dujmovic
ESports has boomed during the global pandemic — here are the best platforms to help you get started Prize pools of gamers rival those of traditional major-league sportsPrize pools of gamers rival those of traditional major-league sports.
3:57 a.m. Oct. 2, 2020 - By Randy Koch
TikTok’s data-privacy problem has an easy solution: ‘synthetic’ data All sides surrounding the China-based short-video-sharing app could win All sides surrounding the China-based short-video-sharing app could win.
3:56 a.m. Sept. 26, 2020 - By Philip van Doorn
Weekend reads: Your money or your pickup truck Also, a retirement quiz, clean energy stocks and where to liveAlso, a retirement quiz, clean energy stocks and where to live.
12:59 p.m. Sept. 25, 2020 - By Daniel Newman
Disappointed by Tesla’s Battery Day? The electric-car maker has been winning by playing the long game Tesla CEO Elon Musk is setting up the company for domination, which requires long-term plans that may disappoint in the short runTesla CEO Elon Musk is setting up the company for domination, which requires long-term plans that may disappoint in the short run.
9:49 a.m. Sept. 24, 2020 - By Victor Reklaitis
Senate panel wants CEOs of Facebook, Google, Twitter to testify Oct. 1: reportThe Republican-led Senate Commerce Committee plans to subpoena the CEOs of Facebook , Alphabet's Google and Twitter to testify at an Oct. 1 hearing if the three execs don't agree by Thursday night to requests to appear, according to t citing an internal committee email. The hearing is expected to cover Big Tech's liability protections. The news comes as the Trump administration pushes for s for internet companies that would force them to shoulder more responsibility for managing content on their sites.
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