(Bloomberg) -- U.S. stock futures sank as investors began a new month pondering gloomy corporate news and the persistent economic turmoil caused by the coronavirus. The dollar and Treasuries rose as a risk-off mood prevailed on what is a holiday in many major markets.Contracts on the S&P 500 Index, Dow Jones Industrial Average and Nasdaq 100 Stock Index all slipped in the wake of sobering comments from Amazon.com Inc. and Apple Inc. about the impact of the pandemic. Equities declined in the U.K., one of the few European markets not closed. Stocks slumped in Japan and Australia while much of the rest of Asia also didn’t trade.The dollar headed for its first advance this week, while Treasury 10-year notes recouped some of their losses since Tuesday.While global stocks posted their best month since 2011 in April -- spurred by a slowdown in coronavirus infections and massive stimulus initiatives -- earnings announcements...
The fate of Norwegian Air was in the balance on Friday after a deadline passed overnight for bondholders to vote on a rescue package for the transatlantic budget airline. Bondholders were set to start a meeting at 1400 GMT on Thursday to vote on the airline's debt-to-equity plan, the first major test of its rescue efforts amid the coronavirus outbreak. Since then, Norwegian Air has sent no messages about the outcome....
David Einhorn, a famed short-seller, questioned Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), Thursday on Twitter, about the automaker's accounting practices.What Happened Greenlight Capital founder Einhorn, who is known for having short-sold Lehman Brothers' stock before it collapsed in 2008, tweeted Musk directly, asking him and the Tesla chief financial officer Zach Kirkhorn pointed questions. Describing his inquiries as "More Boring Bonehead Questions," Einhorn questioned the veracity of Tesla's accounts receivable, his shuttered factories, and the effect of currency market movements on the company.Einhorn demanded answers, writing "Can you or Zack [Zach Kirkhorn] explain?" The investor said if the question was left unanswered, he would "be left wondering" if indeed all Tesla's account receivables were "suspect," along with its income statement.Why It Matters Tesla's shares closed more than 2% lower on Thursday, erasing an intraday gain of nearly 8.7% after Einhorn's public questioning of the automaker's accounting practices.In its...
David Einhorn, a famed short-seller, questioned Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), Thursday on Twitter, about the automaker's accounting practices.What Happened Greenlight Capital founder Einhorn, who is known for having short-sold Lehman Brothers' stock before it collapsed in 2008, tweeted Musk directly, asking him and the Tesla chief financial officer Zach Kirkhorn pointed questions. Describing his inquiries as "More Boring Bonehead Questions," Einhorn questioned the veracity of Tesla's accounts receivable, his shuttered factories, and the effect of currency market movements on the company.Einhorn demanded answers, writing "Can you or Zack [Zach Kirkhorn] explain?" The investor said if the question was left unanswered, he would "be left wondering" if indeed all Tesla's account receivables were "suspect," along with its income statement.Why It Matters Tesla's shares closed more than 2% lower on Thursday, erasing an intraday gain of nearly 8.7% after Einhorn's public questioning of the automaker's accounting practices.In its...
The experimental vaccine, mRNA-1273, is being tested in early-stage trial by the U.S. National Institutes of Health, with Moderna expecting to begin mid-stage trial in the second quarter. "Over time, the parties intend to establish additional production suites across Lonza's worldwide facilities, ultimately allowing for the manufacture of material equivalent to up to 1 billion doses of mRNA-1273 per year for use worldwide", the statement added. Earlier this month, Moderna got a $483 million funding from a U.S. government agency to accelerate its COVID-19 vaccine development....
