Skip to content
The promising result on early-stage trials of AstraZeneca’s potential COVID-19 vaccine, which is expected to be announced as early as today, could boost demand for the stock. However, many will eye the response of T cells in research as it is expected to be an important defence against coronavirus....
(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. raised its forecasts for 2020 revenue and spending, underscoring how surging demand for datacenter chips during the pandemic is helping offset lost business from No. 2 customer Huawei Technologies Co.Apple Inc.’s main iPhone chipmaker said 2020 revenue will grow by above 20% in dollar terms, an improvement from an earlier forecast of a mid- to high-teens percentage rise in revenue. The company estimated capital spending will be $16 billion to $17 billion this year, higher than an earlier goal of $15 billion to $16 billion.TSMC raised its outlook after raised its outlook June-quarter profit beat analyst estimates by the widest margin in six years. Net income came in at NT$120.8 billion ($4.1 billion), exceeding the NT$110.6 billion analysts expected on average. TSMC also reported gross margin of 53%, higher than its previous guidance of 50%-52%.TSMC, a critically important link in the global supply chain, had...
Tesla Inc (NASDAQ: TSLA) car sales in California plunged by nearly a half in the quarter ending June, according to data released by marketing research company Cross-Sell on Wednesday.What Happened Vehicle registrations for the Elon Musk-led company fell nearly 48% to 9,774 units between April and June in the Golden State, compared with a similar period a year earlier, Cross-Sell said, as reported by Reuters.Registrations of Model 3, which is the cheapest vehicle in Tesla's lineup, fell 63% to 5,951 units.Total vehicle registrations fell across the 23 states, where the data was gathered, by approximately 49% to 18,702 vehicles.Registration data may not be a true representation of delivery numbers during the quarter as it takes almost 30 days for vehicles to be registered from the time they are sold in the United States, Reuters noted.Why It Matters The majority of the U.S. was under lockdown in the period between April to...
Tesla Inc (NASDAQ: TSLA) car sales in California plunged by nearly a half in the quarter ending June, according to data released by marketing research company Cross-Sell on Wednesday.What Happened Vehicle registrations for the Elon Musk-led company fell nearly 48% to 9,774 units between April and June in the Golden State, compared with a similar period a year earlier, Cross-Sell said, as reported by Reuters.Registrations of Model 3, which is the cheapest vehicle in Tesla's lineup, fell 63% to 5,951 units.Total vehicle registrations fell across the 23 states, where the data was gathered, by approximately 49% to 18,702 vehicles.Registration data may not be a true representation of delivery numbers during the quarter as it takes almost 30 days for vehicles to be registered from the time they are sold in the United States, Reuters noted.Why It Matters The majority of the U.S. was under lockdown in the period between April to...
(Bloomberg) -- Taiwan Semiconductor Manufacturing Co.’s quarterly profit exceeded analyst estimates by the widest margin in six years, underscoring how its technological lead is helping the chipmaker weather the pandemic as well as U.S. curbs on No. 2 customer Huawei Technologies Co.Apple Inc.’s main iPhone chipmaker reported net income of NT$120.8 billion ($4.1 billion) on Thursday, beating the NT$110.6 billion analysts expected on average. That’s the biggest profit beat since the three months ended March 2014. TSMC also reported gross margin of 53%, exceeding its previous guidance of 50%-52%, according to today’s release.TSMC, a critically important link in the global supply chain, had previously lowered its 2020 revenue outlook to reflect potentially the biggest economic crisis since the Great Depression. But it said at the time it still expects robust demand for semiconductors in datacenters hosting a surge in online activity during the pandemic. The company has maintained its goal of...
German authorities pressed on for four years investigating investors who bet against Wirecard AG's shares, even after a UK regulator concluded that their evidence against the short sellers was "not sufficient," according to documents and people familiar with the matter. With encouragement from Wirecard's lawyers and despite red flags about the company, financial markets watchdog Bafin and Bavarian state prosecutors in Munich moved swiftly against short sellers after a February 2016 research report alleged fraud and money-laundering at Wirecard, according to confidential documents related to the probe....
U.S. Customs placed a detention order on imports of products made by subsidiaries of the world's largest medical glove maker, Malaysia's Top Glove Corp Bhd on Wednesday, an action taken against firms suspected of using forced labour. The bar on Top Glove products comes at a time when demand for the medical gloves and protective gear has skyrocketed due to the coronavirus pandemic, which has hit the United States harder than any other country. The U.S. Customs and Border Protection (CBP) website showed Top Glove Sdn Bhd and TG Medical Sdn Bhd were placed on its list on Wednesday but there was no statement explaining the action, though its "withhold and release" orders, detaining imported goods, are specific to forced labour issues....
