(Bloomberg) -- Tesla Inc. rose for a sixth straight session, capping a 43% gain triggered by the the electric-car maker’s April 2 first-quarter delivery report.The six-day run was Tesla’s longest winning streak since early February. The S&P 500 Index rose 9.3% during the same period.“Coming off its recent first-quarter delivery numbers, which were better than reset Street expectations, there is some clear optimism from the bulls,” Wedbush analyst Dan Ives wrote to clients. China production and demand appear poised for a significant rebound and should be a key growth driver over the coming quarter, he said.Even so, it is now a “virtual impossibility” that Tesla will be able to reach its original annual delivery forecast of at least 500,000 units, according to Ives. Bullish investors are also looking past the shutdown of the company’s factory in Fremont, California, which could last at least another month, further complicating the delivery trajectory for...
(Bloomberg) -- Zoom Video Communications Inc. will let paying customers decide which countries their virtual meetings get routed through, a move to assuage clients worried they may be vulnerable to possible Chinese snooping.The ability to select preferred data center locations will be available beginning April 18, Brendan Ittelson, Zoom chief technology officer, said Monday in a blog post. Paid users can also opt out of certain locations. Free users will be locked into data centers in their region, which will mean a U.S.-based data center for many users.Zoom has gone from being used by 10 million office workers a day to more than 200 million people, including many consumers. The new uses have exposed security flaws with the app’s default privacy settings, thrusting the company into controversy and spurring Chief Executive Officer Eric Yuan to focus on the safety concerns. Researchers from the University of Toronto found that some Zoom calls...
Along with the debate about the shape of a potential travel industry recovery, crosscurrents are emerging about which companies and business models would lead the charge. Cowen Equity Research published a recent investor note contending that Booking Holdings is "in a better position to maintain staff today and invest in the recovery" compared with other […]...
A recurrent theme this year has been bad news out of China. First, and most obviously, the novel coronavirus; then equipment China sent to other countries to help combat the virus. For example, last week Pakistan received what they expected to be N-95 masks from China, only to find they were masks made out of […]...
Swift and sweeping fiscal and monetary policy responses from U.S. officials will ultimately support stock prices from here, blunting some of the damage as the coronavirus pandemic and social distancing measures ravage the economy and grind business activity to a temporary halt, analysts at Goldman Sachs, Morgan Stanley and BlackRock said in new notes Monday....
Gilead Sciences, Inc. (NASDAQ: GILD) announced publication Friday of data in the New England Journal of Medicine from a small cohort of COVID-19 patients who were treated with its remdesivir through compassionate use.The Gilead Analysts BofA Securities analyst Geoff Meacham maintained a Neutral rating on Gilead with a $75 price target.Wells Fargo Securities analyst Jim Birchenough maintained an Overweight rating with an $87 price target. Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Any Clinical Use Of Remdesivir Will Largely Be A Stopgap, BofA Says Overall trends were positive, with 68% of the patients treated with Gilead's remdesivir experiencing clinical improvement, Meacham said in a Sunday note.The data is encouraging from a clinical perspective given the limited treatment options for the new coronavirus, the analyst said. Yet the results also underline the challenges, with nearly one-third of patients...
