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Yahoo Finance's Brian Sozzi, Alexis Christoforous, and Ines Ferre discuss the latest news on coronavirus testing....
A group of U.S. lawmakers preparing to fight a legislative attack on encrypted communications is trying to establish what happened when encryption was subverted at a Silicon Valley maker of networking gear. Democrat Ron Wyden, who sits on the Senate Intelligence Committee, said the 2015 incident at Sunnyvale-based Juniper Networks could shed light on the risks of compromised encryption before an expected hearing on the proposed legislation. "Attorney General (William) Barr is demanding that companies like Facebook weaken their encryption to allow the Department of Justice to monitor users' conversations," Wyden told Reuters....
Kathy Jones, Schwab’s Chief Fixed Income Strategist, joins Yahoo Finance's The First Trade to discuss investor trends, market outlook and what we can expect from the FOMC meeting. ...
(Bloomberg) -- Simon Property Group Inc. is terminating its $3.6 billion bid to buy Taubman Centers Inc., arguing that its rival mall owner has breached the merger agreement by not taking steps to mitigate the fallout from the coronavirus pandemic.Simon said in a statement on Wednesday it has “exercised its contractual rights” to terminate the deal, which was announced in February before the pandemic battered malls. The company said it was asking a court to declare that Taubman has suffered a “material adverse event” and “breached the covenants in the merger agreement.”Taubman didn’t immediately respond to a request for comment.Taubman’s shares plunged more than 40% to $26.70 after the statement was released. Its shares have been trading below the proposed deal price of $52.50 for months, raising speculation that the deal was in trouble.Simon also dipped on Wednesday, dropping as much as 4.5% to $82.57. Its shares had rallied recently on...
Diamond Hill Capital recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Diamond Hill Small Cap Fund posted a return of -36.17% for the quarter, underperforming its benchmark, the Russell 2000 Index which returned -30.61% in the same quarter. You should check out Diamond Hill Capital's top 5 […]...
(Bloomberg Opinion) -- Investors appear to be getting more upbeat about the post-pandemic fates of major clothing retailers. Shares of companies from Gap Inc. to Urban Outfitters Inc. and Kohl’s Corp. have shot up from April lows as shopping centers start to reopen after Covid-19-related closures. Some chains have trumpeted eye-popping numbers about their re-openings, including T.J. Maxx’s parent, which said sales at reopened stores were higher than they were last year. Abercrombie & Fitch Co. has said sales productivity at reopened U.S. locations was at 80% of 2019 levels, while Guess Inc. said on Wednesday that reopened U.S. locations were at 75% productivity compared to last year. Those kinds of tidbits, along with a better-than-expected May jobs report and consumer surveys showing a willingness to spend, offer fresh hope that something close to normal shopping patterns might return sooner than anticipated. Not so fast. Optimism about the clothing business seems misplaced, at least for now. This retailing category will likely end up...
Nio Inc - ADR (NYSE: NIO), which has seen a strong post-COVID rebound, has opted to take the equity route to raise capital following a few debt offerings and a strategic investment.Nio's Equity Offering: The Chinese EV maker announced late Tuesday it has commenced an offering of 60 million ADS shares, with each ADS representing one ordinary share.The ADSs of the company closed Wednesday's session at $6.68.The company said the offering was made under its shelf registration statement on Form F-3 filed with the SEC that became effective June 9.Nio's Use Cases Of Financing: Nio said it intends to use the net proceeds mainly to fund its cash investments in Nio China as well as to meet working capital needs.In late April, Nio signed definitive agreements with a group of strategic investors regarding a 7-billion-yuan ($989 million) injection into Nio China. At that time, the company said as part of the...
