Chinese electric vehicle startup Nio Inc - ADR (NYSE: NIO) reported strong deliveries for April, prompting an analyst at BofA Securities to turn bullish on the company.The Nio Analyst Ming Hsun Lee upgraded Nio ADRs from Neutral to Buy and increased the price target from $3.40 to $5. The Nio Thesis Nio's 181% year-over-year increase in April deliveries underlines the surging demand for premium EVs, Hsun Lee said in a Wednesday upgrade note. (See his track record here.)The analyst attributed Nio's strong showing to product quality enhancement from the launch of the new ES8 with longer cruise range; and the fast-expanding NIO Space likely boosting sales and improving brand image following a battery recall event in the third quarter of 2019.The Hefei government's investment in Nio China has also likely increased consumer confidence, he said. Nio is likely to get incremental support from the government by way of subsidies, tax credits...
Jonathan Kallmer, who takes over as head of Global Public Policy and Government Relations at the company as it battles complaints about security and privacy while user numbers surge, was most recently executive vice president for policy at the Information Technology Industry Council, which represents major tech firms. McMaster, a former army lieutenant general, was President Donald Trump's national security adviser for just over 12 months in 2017 and 2018 before resigning and retiring from the army. As corporations and schools shift to remote work and billions of people are subject to stay-at-home orders seek ways to remain connected, Zoom has seen daily participants on its video chats soar into the hundreds of millions....
The value of General Electric Company (NYSE:GE) shares has dropped significantly by more than 54% since its recent highs of $13.19 in mid-February and lockdown due to the growing effects of coronavirus. As of today, it has hit intraday lows of $6.15 per share. This comes as alarming news to most of its long term […]...
(Bloomberg Opinion) -- If you want to know someone’s secrets, look at their trash. That’s true for their whereabouts, too. For most people during the coronavirus pandemic, that’s been at home. And the recent batch of results from the biggest U.S. garbage haulers shows how more people sheltering in place has taken a toll on their businesses.Republic Services Inc. and Waste Management Inc. both noted steep volume declines in late March and April on the commercial side of their business when they reported first-quarter results this week. With many restaurants, gas stations and strip malls seeing virtually no business and office buildings depleted of their garbage-producing employees, customers are seeking to pause their trash service or reduce the frequency of pickups. Waste Management also cited a downturn in industrial volumes.These are the most profitable customers for trash haulers so the loss of business is having an outsize effect on margins. At Republic, overall decremental margins — a measure of earnings power...
