| 2020-09-27 19:41:14|
T, AMZN… 19:41 09/27 09/27/20
Fly Intel: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. TikTok's future in the U.S. remained up in the air late Sunday as a federal judge weighed the Trump administration's ban of the Chinese-owned app, the latest turn in a complicated battle of brinkmanship that continued through the weekend, The Wall Street Journal's Katy Stech Ferek and Georgia Wells reported. The TikTok ban was set to take effect at 11:59 p.m. Eastern time. TikTok's Chinese parent, ByteDance, is still haggling over the terms of a potential deal that would meet the U.S. demands through a partnership with Oracle (ORCL) and Walmart (WMT), the authors noted. 2. General Motors (GM) has scored a surprise hit in China with its local partners, namely a petite electric vehicle that sells for less than $5,000, according to Bloomberg. The Hongguang MINI EV, made by SAIC-GM-Wuling Automobile, is currently the hottest EV in China, the world's biggest automobile market, the publication noted. Sales of the compact four-seater beat industry giant Tesla (TSLA) in August, with consumers wowed by its tiny price tag and its ability to run for as many as 106 miles on a single charge. Orders exceeded 30,000 units in just 50 days, the report added. 3. The threat of a well-heeled competitor gave Peloton Interactive investors a fright this past week, but competition is the least of Peloton's (PTON) worries, Connor Smith writes in this week's edition of Barron's. After the close on Monday, Echelon, a lower-priced Peloton competitor, announced that it had joined with Amazon.com (AMZN) to sell a "Prime Bike" that would cost $499, but then an Amazon spokesperson said the company had no formal partnership with Echelon, the author noted. Despite the fiasco, Peloton shareholders got a wake-up call-the Echelon announcement and the immediate selloff suggested the risks to Peloton stock should a true rival come along and undercut the company on price, the publication added. But, for now, the Echelon-Amazon episode highlights what Peloton has going for it: execution, brand awareness, and premium technology leadership-and why investors have been willing to award it a nosebleed multiple, Smith wrote. 4. Christopher Nolan's "Tenet" earned an estimated $3.4M domestically in its fourth weekend as Los Angeles and New York theaters remain closed. Overseas, the AT&T (T) subsidiary Warner Bros.' movie grossed another $15.8M for a worldwide total of $283.2M. "Tenet" sports a B CinemaScore and an 74% Rotten Tomatoes. 5. Western Digital (WDC), Fortive (FTV) and Truist Financial (TFC) saw positive mentions in this week's edition of Barron's, while Herbalife (HLF) was mentioned cautiously.