In response to the increasing daily rates of COVID-19 cases in a number of states, governors from New York, New Jersey, and Connecticut have banded together to implement a new set of travel restrictions, but essential workers such as truck drivers are exempt. ...
(Bloomberg) -- The U.S. won arrest warrants for the former president of a China state-owned chipmaker and two other engineers charged with stealing secrets from Idaho-based Micron Technology Inc.The effort to apprehend the three men is notable because they were charged in 2018 in the first case filed under the Trump administration’s “China Initiative” targeting trade-secret theft, hacking and economic espionage. A federal magistrate judge in San Francisco issued the warrants Wednesday after the three men failed to show for their arraignments.While the prosecution of Fujian Jinhua Integrated Circuit Co. has hobbled China’s aspirations of mass producing memory chips, the case has crawled along, even as the Justice Department said the China Initiative would prioritize rapid action. The arraignments of the engineers were repeatedly postponed by agreement between the U.S. and their lawyers. Suddenly on Wednesday, in a three-minute hearing, a U.S. prosecutor requested the warrants, telling the judge she knew...
Let’s just say it’s not looking good for car rental firm Hertz (HTZ). According to Morgan Stanley analyst Adam Jonas, hopes of a turnaround are, well, pretty close to zero.The analyst’s best-case scenario for Robinhood’s favorite bankrupt stock is a $3 price target (down from $8). The base case, however, is $0 (down from $2). This begs the question: what is the bear case? Jonas argues that even if lenders are willing to help Hertz out with a financial package, there are “concerns of material equity dilution.”Jonas explained, “As equity holders are at the bottom of the pecking order of the capital structure with over $18.8 billion of debt outstanding, (and up to $24 billion in total debt outstanding according to Hertz bankruptcy filing), we believe it is more likely than not, that equity will not carry a meaningful residual value as secured creditors will have first claim to cash or...
A group of 100 businesses is boycotting advertising with Facebook in the month of July. One of the organizers, the ADL, spoke to Yahoo Finance about why and what the group is after....
Since February, markets have been taking us for a roller coaster ride. Since the bottom fell out, sending the S&P index plunging 34% in the steepest bear market on record, volatility has ruled the day. Coronavirus fears spurred the drop, as investors watched economies sputter to a halt during the prolonged lockdown policies.Since then, markets have stabilized. Financial experts originally believed that the S&P would find resistance levels in the 2,750 to 2,850 range – but the rebound carried the index higher. Through the month of June, despite some notable ups and downs, the S&P has stayed in the 3,000 to 3,200 range. It appears to be a solid consolidation, giving investors reason for a positive outlook.So, where does the market go from here? One way to navigate all of the stock market uncertainty is to rely on a more comprehensive stock analysis.TipRanks offers a Smart Score that collects and collates...
