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Trucking and transportation companies that were well-prepared to deal with disruption using technology and processes have typically done well during the COVID-19 pandemic, according to Tom McLeod, founder and president of McLeod Software, kicking off his company’s 30th annual user conference Sept. 29. ...
Despite the recent volatility, many names in the semiconductor sector have mounted outsized gains since the historic March lows. But not memory giant Micron (MU). Weighed down by macro elements which have resulted in a lack of demand and the loss of a major source of revenue due to the ban on Huawei, MU shares are still in the red for 2020. Micron will have an opportunity to reverse course when the company releases F4Q earnings after the market closes today. The company has already pointed out what to look out for in a recent business update. Most concerning for investors were projections for the next (November) quarter. Slowing demand and customers’ excess inventory have led Micron to lower revenue forecasts. Wall Street followed by lowering estimates, too.While Raymond James analyst Chris Caso admits to being “late in cutting numbers,” the analyst has also now reduced November expectations to consensus levels...
(Bloomberg) -- A wildfire that jumped across California’s famed Napa Valley forced the evacuation of an entire wine country resort town and threatened thousands of homes in a region devastated by blazes just three years ago.The Glass Fire north of San Francisco reached more than 42,500 acres as of Tuesday morning, nearly quadrupling in size over 24 hours, and is 0% contained, according to the California Department of Forestry and Fire Protection, or Cal Fire. A second fire that erupted in Shasta County has killed at least three people.The blazes broke out after a weekend of hot weather with dry winds in Northern California, which has already been buffeted by a record wildfire season. The gusts have now faded in that region but are gaining strength in the southern part of the state. Officials on Monday and Tuesday began deploying firefighters and equipment to Southern California in hopes of quickly stopping...
(Bloomberg) -- JPMorgan Chase & Co. admitted wrongdoing and agreed to pay more than $920 million to resolve U.S. authorities’ claims of market manipulation involving two of the bank’s trading desks, the largest sanction ever tied to the illegal practice known as spoofing.Over eight years, 15 traders at the biggest U.S. bank caused losses of more than $300 million to other participants in precious metals and Treasury markets, according to court filings on Tuesday. JPMorgan admitted responsibility for the traders’ actions. The Justice Department filed two counts of wire fraud against the bank’s parent company but agreed to defer prosecution related to the charges, under a three-year deal that requires the bank to report its remediation and compliance efforts to the government.The New York-based lender will pay the biggest monetary penalty ever imposed by the Commodity Futures Trading Commission, including a $436.4 million fine, $311.7 million in restitution and more than...
Will the stock market tank after the first presidential debate? Here's what the data shows....
