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AAPL

Apple

$324.91 /

-0.02 (-0.01%)

16:12
02/17/20
02/17
16:12
02/17/20
16:12

Apple warns on coronavirus, won't meet revenue guidance

In a statement regarding quarterly guidance, Apple said that: "As the public health response to COVID-19 continues, our thoughts remain with the communities and individuals most deeply affected by the disease, and with those working around the clock to contain its spread and to treat the ill. Apple is more than doubling our previously announced donation to support this historic public health effort. Our quarterly guidance issued on January 28, 2020 reflected the best information available at the time as well as our best estimates about the pace of return to work following the end of the extended Chinese New Year holiday on February 10. Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter due to two main factors. The first is that worldwide iPhone supply will be temporarily constrained. While our iPhone manufacturing partner sites are located outside the Hubei province - and while all of these facilities have reopened - they are ramping up more slowly than we had anticipated. The health and well-being of every person who helps make these products possible is our paramount priority, and we are working in close consultation with our suppliers and public health experts as this ramp continues. These iPhone supply shortages will temporarily affect revenues worldwide. The second is that demand for our products within China has been affected. All of our stores in China and many of our partner stores have been closed. Additionally, stores that are open have been operating at reduced hours and with very low customer traffic. We are gradually reopening our retail stores and will continue to do so as steadily and safely as we can. Our corporate offices and contact centers in China are open, and our online stores have remained open throughout. Outside of China, customer demand across our product and service categories has been strong to date and in line with our expectations. The situation is evolving, and we will provide more information during our next earnings call in April. Apple is fundamentally strong, and this disruption to our business is only temporary. Our first priority - now and always - is the health and safety of our employees, supply chain partners, customers and the communities in which we operate. Our profound gratitude is with those on the front lines of confronting this public health emergency."

  • 26

    Feb

AAPL Apple
$324.91 /

-0.02 (-0.01%)

02/12/20 OTR Global
Apple assemblers confirmed to resume operations, says OTR Global
02/10/20 Bernstein
Apple's payments efforts 'clearly worth watching,' says Bernstein
02/10/20 Wedbush
Foxconn factory delay 'a concerning development' for Apple, says Wedbush
02/10/20 Bernstein
Coronavirus impact on semiconductors difficult to quantify, says Bernstein

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Boeing upgraded to Buy from Neutral at Goldman Sachs » 20:59
04/06/20
04/06
20:59
04/06/20
20:59
BA

Boeing

$148.58 /

+23.99 (+19.26%)

Goldman Sachs analyst…

Goldman Sachs analyst Noah Poponak upgraded Boeing to Buy from Neutral with an $189 price target.

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Earnings
Samsung sees Q1 operating profit KRW6.40T vs. KRW6.18T consensus » 19:42
04/06/20
04/06
19:42
04/06/20
19:42
SSNLF

Samsung

$0.00 /

+ (+0.00%)

Sees Q1 revenue KRW55.00T…

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Organigram to temporarily lay off 45% of workforce » 19:31
04/06/20
04/06
19:31
04/06/20
19:31
OGI

Organigram

$1.71 /

+0.095 (+5.90%)

Organigram Holdings…

Organigram Holdings announced the temporary layoff of approximately 45% of its workforce primarily to help boost COVID-19 containment efforts representing approximately 400 employees. COVID-19, some administrative, support and other functions were deemed non-essential to the short-term needs of the business. The temporary layoffs were initiated on March 24, 2020 and the Company will continuously monitor the evolving situation. Lump-sum payments will be paid to the affected employees to help bridge the gap to available government programs. In addition, the company will absorb the employee paid portion of health, dental and short-term disability premiums for all employees during this difficult time.

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On The Fly
Fly Intel: After-Hours Movers » 19:13
04/06/20
04/06
19:13
04/06/20
19:13
VMD

Viemed Healthcare

$4.40 /

+0.08 (+1.85%)

, TWO

Two Harbors

$3.15 /

+0.735 (+30.43%)

, TMDX

TransMedics

$12.00 /

+0.04 (+0.33%)

, LMNX

Luminex

$27.05 /

+0.3 (+1.12%)

, GSKY

GreenSky

$3.35 /

+0.27 (+8.77%)

, BZH

Beazer Homes

$5.24 /

+0.35 (+7.16%)

, KHC

Kraft Heinz

$25.91 /

+0.6 (+2.37%)

, SEAC

SeaChange

$3.61 /

+0.34 (+10.40%)

, VRNS

Varonis

$56.97 /

+3.96 (+7.47%)

, CIM

Chimera

$8.13 /

+0.925 (+12.85%)

, BA

Boeing

$148.58 /

+23.99 (+19.26%)

, FLS

Flowserve

$26.17 /

+2.41 (+10.14%)

HIGHER -• Viemed…

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CAAP says operations 'severely impacted' by COVID-19-related flight restrictions » 19:11
04/06/20
04/06
19:11
04/06/20
19:11
CAAP

Corporacion America Airport

$1.81 /

+0.13 (+7.74%)

Corporacion America…

Corporacion America Airports said that its operations have been severely impacted by the introduction of the flight restrictions related to the coronavirus outbreak as well as flight bans in many other countries worldwide. Passenger traffic in the company's Italian operations started to decline late February, while its airports in Latin America were impacted starting the second week of March. According to preliminary operational figures, CAAP's passenger traffic was down by approximately 12% YoY in the first week of March, declined further to around 18% in the second week, deteriorating to a drop of nearly 60% in the third week and over 90% in the fourth week of March. For the whole month, preliminary traffic is estimated to have declined approximately 45% YoY. Note that these preliminary figures may be subject to adjustments. A crisis committee was set in place, composed of the Company's CEO and operating CEOs of each subsidiary to assess operations, focused on enhancing the sustainability of the company's business. In addition, CAAP has developed a four-pronged strategy and implemented a number of actions aiming to mitigate the negative impact of the COVID-19 virus. The company has further enhanced safety and hygiene protocols across the company's airports to protect the well-being of passengers and operating personnel. For essential staff working on premises, health gear was provided and additional sanitizing policies established. The company has also established remote working when possible. CAAP has introduced reductions in operating costs by: Reducing personnel expenses including salary reductions, suspension of salary increases and freezing new hiring, mandatory use of pending vacations and/or advancing vacations to employees when possible, placing operating employees on furlough in certain geographies. In Italy and Uruguay, employees under furlough are receiving government unemployment subsidies. It is also reducing maintenance and other operating expenses while maintaining the quality and safety standards, required to support the minimum level of operations. As a result of these combined measures, the company expects total cash operating costs and expenses excluding concession fees to decrease by approximately 43% under this crisis scenario. This target reduction is based on current company estimates for 2Q20 and actual 2Q29 figures ex-IAS29. In relation with concession fees, all of the Company's operations are under a variable concession fee regime, with the exception of its Brazilian concessions, which are also subject to a fixed concession fee. The Company is also aggressively managing working capital by negotiating with its suppliers the extension of payment terms and reducing its capex program. The company noted that it has started discussions with regulatory agencies to renegotiate concession fees payments to align to the current environment.

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Earnings
Corporacion America Airports reports Q4 revenue $380.1M, consensus $322.83M » 19:08
04/06/20
04/06
19:08
04/06/20
19:08
CAAP

Corporacion America Airport

$1.81 /

+0.13 (+7.74%)

Reports Q4 adjusted…

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Hot Stocks
Iqvia launches COVID-19 trial matching solutions » 19:03
04/06/20
04/06
19:03
04/06/20
19:03
IQV

Iqvia

$117.21 /

+14.595 (+14.22%)

IQVIA announced its new…

IQVIA announced its new technology-enabled COVID-19 Trial Matching Tool at c19trials.com, which is "one of the world's first online platforms that matches individuals with specific COVID-19 studies to accelerate clinical research projects." This solution combines publicly available information, IQVIA data and tools, and an algorithmic logic that generates a questionnaire dependant on previous responses to match patients and investigators to accelerate ongoing COVID-19 clinical research projects within the U.S.

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Roku rolls out The Roku Channel in the U.K. » 19:01
04/06/20
04/06
19:01
04/06/20
19:01
ROKU

Roku

$89.48 /

+8.05 (+9.89%)

Roku announced the…

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3M, White House confirm plan to import 166.5M respirators over next 3 months » 19:00
04/06/20
04/06
19:00
04/06/20
19:00
MMM

3M

$140.54 /

+6.64 (+4.96%)

3M and the Trump…

3M and the Trump Administration are announcing a plan to import 166.5 million respirators over the next three months to support healthcare workers in the United States. 3M and the Administration worked together to ensure that this plan does not create further humanitarian implications for countries currently fighting the COVID-19 outbreak, and committed to further collaborate to fight price gouging and counterfeiting. "I want to thank President Trump and the Administration for their leadership and collaboration," said 3M chairman and CEO Mike Roman. "We share the same goals of providing much-needed respirators to Americans across our country and combating criminals who seek to take advantage of the current crisis. These imports will supplement the 35 million N95 respirators we currently produce per month in the United States." 3M will import 166.5 million respirators over the next three months primarily from its manufacturing facility in China, starting in April. The Administration is committed to working to address and remove export and regulatory restrictions to enable this plan. The plan will also enable 3M to continue sending U.S. produced respirators to Canada and Latin America, where 3M is the primary source of supply. As a global company, 3M has manufacturing operations around the world to serve local and regional markets. As the pandemic unfolds in different stages around the world, 3M will continue to work with governments to direct respirators and other supplies to serve areas most in need. Beginning in January, 3M ramped up production of N95 respirators and doubled its global output to 1.1 billion per year - including the 35 million a month in the United States. 3M has already put into motion additional investments and actions that will enable it to double its capacity again to 2 billion globally within 12 months, with additional capacity to begin coming online in the next 60 to 90 days. In the United States, for example, 3M expects to be producing N95 respirators at a rate of 50 million per month in June, a 40 percent increase from current levels. Last week 3M announced additional actions to address price gouging and counterfeit activity related to its respirators. 3M has not changed the prices it charges for respirators, and will take decisive action against those seeking to take illegal and unethical advantage of the COVID-19 outbreak.

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General news
Trump says 2nd round of stimulus to consumers 'under serious consideration'  18:54
04/06/20
04/06
18:54
04/06/20
18:54
SPY

SPDR S&P 500 ETF Trust

$264.75 /

+16.54 (+6.66%)

, SPX

S&P 500

$0.00 /

+ (+0.00%)

 
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Hot Stocks
SPDR Gold Shares holdings fall to 984.26MT from 978.99MT » 18:48
04/06/20
04/06
18:48
04/06/20
18:48
GLD

SPDR Gold Shares

$156.90 /

+4.16 (+2.72%)

This is the 5th…

This is the 5th consecutive increase and the highest level of holdings since June of 2013.

Periodicals
Microsoft taps ex-Apple exec Caballero to work on HoloLens, Bloomberg reports » 18:43
04/06/20
04/06
18:43
04/06/20
18:43
MSFT

Microsoft

$165.27 /

+11.35 (+7.37%)

, AAPL

Apple

$262.12 /

+20.69 (+8.57%)

Microsoft (MSFT) has…

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Periodicals
Wisconsin SC blocks executive order delaying state's primary, Axios reports » 18:40
04/06/20
04/06
18:40
04/06/20
18:40
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$264.75 /

+16.54 (+6.66%)

Wisconsin's Supreme…

Wisconsin's Supreme Court has blocked an executive order issued by Governor Tony Evers, a Democrat, that tired to postpone in-person voting for the state's primary election until June 9, Axios reports. Wisconsin's primary election is currently scheduled for Tuesday, the report notes. Judges ruled 4-2 along ideological lines that the governor does not have the authority to unilaterally delay the election, despite the fact that Wisconsin has a stay-at-home order in place as a result of the COVID-19 pandemic, the report says. Reference Link

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Hot Stocks
GoDaddy acquires Neustar's Registry business, terms not disclosed » 18:32
04/06/20
04/06
18:32
04/06/20
18:32
GDDY

GoDaddy

$58.68 /

+6.62 (+12.72%)

GoDaddy announced it is…

GoDaddy announced it is acquiring Neustar Inc's Registry business. Financial details of the transaction were not disclosed. The deal is expected to close in Q2. The Neustar Registry business features a high-performance backend registry technology platform and enhanced domain security systems that enable people and brands to seamlessly connect and transact online with speed, security and reliability. The new service will be called GoDaddy Registry and will be led by Nicolai Bezsonoff, currently Senior Vice President and General Manager of Neustar's Registry business. As part of the transaction, GoDaddy will strictly adhere to a governance model that maintains independence between the GoDaddy registry and registrar businesses. GoDaddy has worked closely with both registrars and registries for more than 20 years to help grow a healthy and competitive domains market and it will continue to do so for the benefit of consumers and the industry.

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Periodicals
White House orders 167M face masks from 3M, WSJ reports » 18:30
04/06/20
04/06
18:30
04/06/20
18:30
MMM

3M

$140.54 /

+6.64 (+4.96%)

The Trump administration…

The Trump administration will purchase nearly 167M face masks from 3M over the next three months as officials seek to find protective equipment for front-line workers confronting the COVID-19 outbreak, the Wall Street Journal's Alex Leary and Austen Hufford report, citing a White House official. The company came into conflict with Trump last week, as the president criticized 3M's mask-making efforts and invoked the Defense Production Act against it, the authors note. An official said today that the White House didn't plan to take any additional action against 3M under the DPA in addition to the mask purchases, the authors say, noting that the administration intends to purchase 55.5M masks from the company in each of the next three months. Reference Link

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Hot Stocks
Zoom Video CEO: We were originally built for the enterprise customer » 18:27
04/06/20
04/06
18:27
04/06/20
18:27
ZM

Zoom Video

$122.90 /

-5.18 (-4.04%)

In an interview on…

In an interview on CNBC's Mad Money, Eric Yuan said the company plans to focus on security issues for the next 90 days. "We need to enforce security settings for users," he noted. When discussing the recent privacy problems, Yuan said users can enable password and lock meetings to better protect their conferences.

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Periodicals
PG&E fire victims lawyers' clash over pushing for new settlement, Bloomberg says » 18:23
04/06/20
04/06
18:23
04/06/20
18:23
PCG

PG&E

$8.54 /

+0.62 (+7.83%)

PG&E's road to…

PG&E's road to approval of its bankruptcy plan has hit a new roadblock, as lawyers for fire victims are clashing over whether to push for a better settlement since the risk of being compensated with stock has grown, Bloomberg's Mark Chediak reports. Attorneys for the official committee of fire victims in the utility's bankruptcy want the company to guarantee the value of the half of the $13.5B settlement to be paid through new shares, Chediak says. Otherwise, the attorneys argue that the deal's value will shrink as a result of the market downturn amid the COVID-19 pandemic, the author notes. Reference Link

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General News
Biden, Trump held call over coronavirus pandemic » 18:19
04/06/20
04/06
18:19
04/06/20
18:19
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$264.75 /

+16.54 (+6.66%)

According to Kate…

According to Kate Bedingfield, deputy campaign manager for presidential candidate Joe Biden, Biden and U.S. President Donald Trump had a "good call" on the subject of how to handle the coronavirus pandemic, during which Biden "share several suggestions" for actions the White House can take now to "address the ongoing coronavirus pandemic and expressed his appreciation for the spirit of the American people in meeting the challenges facing the nation." Reference Link

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Hot Stocks
Pershing boosts stake in Berkshire by 39%, Lowe's by 46% » 18:06
04/06/20
04/06
18:06
04/06/20
18:06
A

Agilent

$74.30 /

+3.935 (+5.59%)

, BRK.A

Berkshire Hathaway

$277,260.00 /

+8760 (+3.26%)

, BRK.B

Berkshire Hathaway

$185.04 /

+6.8 (+3.82%)

, HLT

Hilton

$63.80 /

+7.76 (+13.85%)

, HHC

Howard Hughes

$50.72 /

+6.72 (+15.27%)

, LOW

Lowe's

$88.71 /

+6.67 (+8.13%)

, QSR

Restaurant Brands

$37.80 /

+4.61 (+13.89%)

, SBUX

Starbucks

$67.81 /

+4.72 (+7.48%)

According to the…

According to the firm's 2019 annual report, Pershing Square said it has increased its stakes in Agilent (A) by 16%, Berkshire Hathaway (BRK.A) by 39%, Hilton (HLT) by 34%, Howard Hughes (HHC) by 158%, Lowe's (LOW) by 46%, and Restaurant Brands (QSR) by 26%. The company said it has also reestablished a 10% of capital position in Starbucks (SBUX). If its portfolio companies grow in value and their stock prices increase over the long term as it expects, the long-term returns for PSH will be substantially greater than before as a result of the reinvestment of the proceeds from the hedging transactions, the company said. Reference Link

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OMA reports March passenger traffic down 32.6% y/y » 17:50
04/06/20
04/06
17:50
04/06/20
17:50
OMAB

OMA

$24.82 /

+2.19 (+9.68%)

Mexican airport operator…

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Hot Stocks
Silver Lake, Sixth Street Partners invest $1B in Airbnb » 17:50
04/06/20
04/06
17:50
04/06/20
17:50
CHH

Choice Hotels

$62.83 /

+8.76 (+16.20%)

, H

Hyatt

$46.61 /

+6.61 (+16.53%)

, HLT

Hilton

$63.80 /

+7.76 (+13.85%)

, MAR

Marriott

$70.60 /

+11.53 (+19.52%)

, WYN

Wyndham

$0.00 /

+ (+0.00%)

, IHG

InterContinental

$39.49 /

+5.08 (+14.76%)

, HOT

Starwood

$0.00 /

+ (+0.00%)

"Airbnb announced…

"Airbnb announced that Silver Lake and Sixth Street Partners will invest $1 billion in Airbnb in a combination of debt and equity securities. The new resources will support Airbnb's ongoing work to invest over the long term in its community of hosts who share their homes and experiences, as well as the work to serve all stakeholders in the Airbnb community. The desire to explore, connect, have new experiences, and have a comfortable place to call home are universal and enduring. And our commitment to create a greater sense of belonging-for everyone, everywhere-will never change," said Airbnb in a statement. Publicly traded companies in the hotel or lodging space that "Airbnb operates in include: Choice Hotels (CHH), Hilton (HLT), Hyatt (H), InterContinental (IHG), Marriott (MAR), Starwood (HOT) and Wyndham (WYN). URL

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Hot Stocks
Ryder enhances liquidity position with bond offering » 17:43
04/06/20
04/06
17:43
04/06/20
17:43
R

Ryder

$25.90 /

+2.91 (+12.66%)

Ryder System announced it…

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Hot Stocks
Cato Corp. to extend closure of all brick and mortar stores until further notice » 17:43
04/06/20
04/06
17:43
04/06/20
17:43
CATO

Cato Corp.

$9.97 /

+1.15 (+13.04%)

The Cato Corporation…

The Cato Corporation announced it will extend the closure of all brick and mortar stores, until further notice. Company management will continue to assess the situation, market by market as additional guidance is issued from U.S. and local governments, as well as the Centers for Disease Control, as it develops its plan to reopen stores at a future date. As a result of the extended store closure, coupled with the North Carolina's "Stay-at-Home" Executive Order impacting the Home Office, Cato has temporarily furloughed its store associates, a majority of distribution center associates, as well as additional corporate associates, whose work has been significantly reduced by the store closures. At this time, those impacted will continue to receive enrolled benefits. As part of the business response to COVID-19, the company has taken the following actions to protect our financial position during these challenging times: Temporarily discontinued monthly sales releases, until further notice; Temporarily suspended the quarterly dividend; Suspended hiring and eliminated all merit raises for 2020; Drew down $30 million from our $35 million line of credit, in an effort to protect cash reserves; Significantly decreased capital expenditures; Delayed or cancelled some planned new store openings; Continue to review non-payroll expenses across the business; Managing inventory by aggressively cancelling and/or delaying merchandise to better align with anticipated sales; Evaluating extending payment terms for vendor invoices and suspending rent payments; Temporarily reduced CEO salary by 50%; Temporarily reduced Board fees by 50%; Temporarily reducing other associates salaries by 25%, however not below $55,000.

Hot Stocks
Fluor, Vectrus awarded on combined $6.4B ceiling Air Force contract » 17:43
04/06/20
04/06
17:43
04/06/20
17:43
FLR

Fluor

$6.52 /

+0.54 (+9.03%)

, VEC

Vectrus

$38.70 /

+0.34 (+0.89%)

Fluor (FLR), Vectrus…

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Recommendations
Zimmer Biomet Q1 performance 'slightly worse' than expected, says Piper Sandler » 17:42
04/06/20
04/06
17:42
04/06/20
17:42
ZBH

Zimmer Biomet

$97.92 /

+5.88 (+6.39%)

Piper Sandler analyst…

Piper Sandler analyst Matt O'Brien says Zimmer Biomet's preliminary Q1 revebye results calling for a revenue decline of about 9% were "slightly worse" than expected as the company also withdrew its guidance as part of its COVID-19 business update. However, the analyst keeps his Overweight rating on the shares with a $175 price target, noting he is positive on the management's cost reduction initiatives and supply chain optimization efforts. O'Brien adds that he is "constructive" on Zimmer Biomet over the long term.

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