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Avis Budget Group Inc
153.55 - 251.26
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By Aditya Soni and Akash Sriram (Reuters) -Elon Musk's warning that high interest rates could sap electric-vehicle demand knocked shares of the sector on Thursday, with some analysts questioning if Tesla (NASDAQ:TSLA) can maintain the runaway growth that has for years set it apart from other automakers. The world's most valuable automaker was set to lose nearly $50 billion in market value, based on premarket share movements. Rivian (NASDAQ:RIVN) Automotive, Lucid Group (NASDAQ:LCID) and Fisker (NYSE:FSR) fell as much as 2.4%, while legacy automakers Ford Motor (NYSE:F) and General Motors (NYSE:GM) lost 1.4% and 1.1%, respectively. The comments marked a change in tone from Tesla CEO Musk, who had said his company was "recession-resilient" last year. The EV maker missed revenue estimates on Wednesday by the most in more than three years despite hefty price cuts. "It didn't have the same zip. We await Tesla's earnings calls with a sense of excitement and suspense - and they usually deliver. Not Wednesday night," Canaccord Genuity analysts said. The company is expected to cut prices further in the current quarter to meet its annual deliveries goal of 1.8 million vehicles, even after its gross margin contracted to 17.9% between July and September from 25.1% a year earlier. "We continue to believe that Tesla is a car company, and that the competitive nature of the auto industry will make it difficult for any player to have a sustained profitability advantage," Bernstein analyst Toni Sacconaghi said. Overall, 10 analysts cut their price targets on the stock, pushing the median view to $260, according to LSEG data. Tesla shares fell 6.1% at $227.96 in premarket trading. The stock has nearly doubled in 2023 on investor optimism that the company will fare better than rivals in an uncertain economy and see a long-term boost from its self-driving efforts. The stock trades at about 59 times its 12-month forward earnings estimates, compared with 6.3 times for Ford and General Motors' 4.2. "The current market valuation appears to rest on the specious assumption that the hundreds of EVs slated for launch by 2025 will all be flops. Tesla does not operate in a vacuum," said Craig Irwin, senior research analyst at Roth Capital.
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By Ankika Biswas and Shashwat Chauhan (Reuters) - The Nasdaq lagged major U.S. stock indexes on Thursday as megacaps came under pressure with Treasury yields resuming their upward charge, while investors assessed fresh economic data and awaited Federal Reserve chief Jerome Powell's remarks. As the 10-year Treasury yields regained steam, megacap growth stocks including Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Amazon.com (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL) shed between 0.4% and 2.2%. Technology led declines amongst major S&P 500 sectors, down 0.7%, while healthcare added 0.5%. At 9:41 a.m. ET, the Dow Jones Industrial Average was down 5.50 points, or 0.02%, at 33,544.77, the S&P 500 was down 5.18 points, or 0.12%, at 4,269.33, and the Nasdaq Composite was down 54.28 points, or 0.41%, at 13,038.57. Meanwhile, data showed the U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday. It also appeared to have gathered momentum this quarter amid a resilient labor market. "We expect a weakening labor market and mounting headwinds to disposable incomes will drive a sharper slowdown in consumption and the broader economy over the rest of the year," said Michael Pearce, lead U.S. economist at Oxford Economics. Pearce added that a sharp slowdown into year-end will keep policymakers on the sidelines, rather than following through with an additional rate hike as planned. Also on radar will be comments by Powell at 4 p.m. ET, as well as remarks by voting member Lisa Cook during the day. Chicago Fed President Austan Goolsbee said the U.S. central bank may be on the cusp of "something rare" by lowering inflation without a major blow to jobs and growth. Deepening inflation concerns, U.S. oil futures jumped to a more than one-year high on earlier on Thursday. Traders' bets on the benchmark rate remaining unchanged in November and December stood around 79% and 62%, respectively, according to CME's FedWatch tool. Meanwhile, a 25-basis-point rate cut is being priced in as early as March, growing to over 31% in June and July. The scope for interest rates staying higher for longer than anticipated has solidified with soaring energy prices keeping headline inflation elevated. The S&P 500 and the Nasdaq are on course for their worst monthly performance of the year as Treasury yields hit multi-year highs on uncertainty around interest rates. All the three indexes are set for their first quarterly decline in 2023. With a partial government shutdown just three days away, a procedural vote on a bipartisan short-term spending measure by the Senate on Thursday will also be closely watched. Among individual movers, Micron Technology (NASDAQ:MU) dropped 4.7% after forecasting a bigger-than-expected first-quarter loss. CarMax (NYSE:KMX) lost 11.2% after the used-car retailer posted a lower-than-expected quarterly profit. Accenture (NYSE:ACN) slumped 4.4% after the IT services firm forecast full-year earnings and first-quarter revenue below Wall Street targets. Advancing issues outnumbered decliners by a 1.34-to-1 ratio on the NYSE and by a 1.26-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and eight new lows, while the Nasdaq recorded 15 new highs and 88 new lows.
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By Sameer Manekar and Yelin Mo (Reuters) -Chinese automaker BYD (SZ:002594) said on Monday its electronics unit has struck a deal with U.S.-based manufacturer Jabil Inc to buy its mobile electronics manufacturing business in China for 15.8 billion yuan ($2.2 billion). The deal will expand BYD Electronic's (BE) customer base, product portfolio and its smartphone components business as it looks to capture Jabil's potential growth in the sector. Jabil Circuit (NYSE:JBL), which is based in Singapore and manufactures printed circuit boards, established a unit this month that absorbed its product-manufacturing businesses in Chengdu and Wuxi, which will now be sold to the Chinese group. Shares in BYD Electronic initially fell as much as 9% in Hong Kong on Monday but reversed their losses and were up 0.5% by the afternoon, while the broader market rose 1.5%. The Hong Kong-listed stock of its parent BYD was up 0.9%. Although now best known for its electric vehicle business, BYD started out by selling electronic components. In 2007, BYD listed its BE unit on the Hong Kong Stock Exchange. BE's major business has been selling electronic components for consumer electronics products such as smartphones and laptops. This was one of three key business segments for BYD Electronic, accounting for more than 70% of its total revenue in 2022. "For BYD, I think it’s a reminder that they do more than just dominate in EVs," said Tu Le, founder of consultancy Sino Auto Insights, adding that they were higher up in the mobile supply chain and were a supplier to Apple Inc (NASDAQ:AAPL). Citi analysts said in a note that they believed the deal involved Jabil's Green Point metal casing operations in Wuxi, and that it could see BE further penetrating into Apple's casing supply with higher market share. BE will likely have to fund the acquisition with loan and equity issuance, they added. BYD and BE did not disclose how they planned to finance the deal. BE and Jabil did not immediately respond to requests for further comment. "While improving BE's market share of products, the acquisition will effectively synergize with BE's existing products, enhance the overall competitiveness, ensure long-term sustainable development," BYD said in an exchange filing, without divulging any further details about the acquisition. If the deal was completed, the definitive agreement would enable Jabil to "enhance our shareholder-centric capital framework, including incremental share buybacks", Chief Executive Kenny Wilson said in a statement. The deal would allow Jabil to further invest in "electric vehicles, renewable energy, healthcare, AI cloud data centers, and other end-markets," Wilson added. Jabil Circuit works with companies in healthcare, telecommunications, computing and storage, with an aim to drive supply-chain intelligence, according to its website. BYD first entered the car industry in 2003 when it acquired Nanjing-based automaker Qin Chuan, which held a permit for car manufacturing. It launched its first car model three years later. ($1 = 7.2890 Chinese yuan)
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By Amruta Khandekar and Shristi Achar A (Reuters) - The S&P 500 and Dow rose on Wednesday as Target results lifted the retail sector, while investors awaited minutes of the Federal Reserve's July policy meeting for cues on the bank's interest rate path. Shares of Target jumped 6.3% after the big-box retailer's second-quarter profit beat outweighed its annual forecast cut. Bigger rival Walmart (NYSE:WMT), which is scheduled to report results on Thursday, rose 0.5%, while department stores Macy's (NYSE:M) and Kohl's (NYSE:KSS) gained 2.1% and 0.7%, respectively. Home Depot (NYSE:HD) rose 1.2%. The S&P 500 consumer staples index added 0.4%, while energy firms rose 0.5% as Chevron (NYSE:CVX) gained 1.3% after Mizuho upgraded its rating. Equities have been going through a rough patch in August, with the S&P 500 languishing at a more than one-month low as data underscoring sticky inflation and a robust economy has fanned fears of interest rates staying elevated for longer. While investors largely expect the Fed's monetary tightening to be nearing its end, worries linger the central bank could hold rates at the current level for longer. Traders' bets of a rate hike pause in September stand at nearly 91%, according to CME Group's (NASDAQ:CME) Fedwatch tool. The Federal Reserve's July 25-26 meeting minutes are due at 1400 ET (1800 GMT). The central bank had raised rates by 25 basis points at the end of the meeting. "Investors are expecting that the Fed's tone will remain fairly hawkish within those minutes," said Sam Stovall, chief investment strategist at CFRA Research. "Our economists believe that rates will be cut in the beginning of 2024, but the worry is that maybe the Fed will keep rates higher for longer in order to ensure that inflation is coming down." Investors also digested stronger-than-expected industrial production data for July which drove yields on the 10-year Treasury note to session highs of 4.235%. Nvidia (NASDAQ:NVDA) edged up 0.5% after Piper Sandler became the latest Wall Street brokerage to raise its price target on the stock ahead of the chip designer's earnings next week. Keeping the Nasdaq under pressure, Tesla (NASDAQ:TSLA) slid 0.4% after the electric-car maker cut prices for its premium Model S and Model X cars in China by more than 6%. At 9:55 a.m. ET, the Dow Jones Industrial Average was up 137.92 points, or 0.39%, at 35,084.31, the S&P 500 was up 5.03 points, or 0.11%, at 4,442.89, and the Nasdaq Composite was down 29.36 points, or 0.22%, at 13,601.68. Among other stocks, U.S.-listed shares of Tower Semiconductor (NASDAQ:TSEM) dropped 8.8%, after Intel (NASDAQ:INTC) terminated its plans to acquire the Israeli contract chipmaker. Coinbase (NASDAQ:COIN) gained 2.5% as it secured regulatory approval to offer cryptocurrency futures to U.S. retail customers. Advancing issues outnumbered decliners by a 1.53-to-1 ratio on the NYSE and by a 1.03-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and 10 new lows, while the Nasdaq recorded 20 new highs and 92 new lows.
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Investing.com -- U.S. stocks wobbled early on Monday as investors anticipate earnings reports from major retailers and retail sales data for July that could shed more light on the health of the American consumer. At 11:21 ET (15:21 GMT), the Dow Jones Industrial Average was down 7 points or less than 0.1%, while the S&P 500 was up 0.3% and the NASDAQ Composite was up 0.5%. The main equities indices have had a tricky start to August, with the broad-based S&P 500 and the tech-heavy Nasdaq Composite both falling last week, the Nasdaq’s first two-week losing streak of the year. The blue-chip Dow Jones Industrial Average, however, posted small gains last week, its fourth positive week in five. Fed minutes to offer monetary policy clues Inflation data at the end of last week came in a touch stronger than expected, causing Treasury yields to rise as investors factored in the possibility of the Federal Reserve continuing to tighten monetary policy in September. However, this is not the prevailing wisdom, with Goldman Sachs speaking for many when it expects the central bank to pause in September and then declare in November that a moderation in inflation means that a final hike would be "unnecessary." The influential investment bank then sees the Fed starting to cut interest rates again by the end of next June, rolling out gradual reductions in borrowing costs every quarter after that month. The Fed releases the minutes from its July policy meeting on Wednesday, which should help investors gauge the appetite for further rate increases ahead of its annual get-together in Jackson Hole, Wyoming at the end of the month. Major retailers set to release earnings Ahead of this, Tuesday sees the release of the retail sales for July, a gauge into the health of consumer spending as investors await quarterly earnings from a number of the country’s big retailers. Home Depot (NYSE:HD) is due to release results on Tuesday, Target (NYSE:TGT) on Wednesday and Walmart (NYSE:WMT) on Thursday. The second quarter earnings season is winding down with S&P 500 results presenting a mixed picture - companies are beating analysts' profit expectations at the highest rate in nearly two years even as revenue beats dropped to the lowest since early 2020. Tesla cuts prices in China Elsewhere, Tesla (NASDAQ:TSLA) has cut prices in China for two of its Model Y model, as the electric car maker attempts to combat increased competition and entice customers wary of making big purchases in an uncertain economy. Tesla shares fell 1.8%. Sales of Tesla cars made in China dropped by 31% month-on-month in July, the first decline since December. Crude retreats as dollar rises Oil prices retreated Monday, as concerns about China’s faltering economic recovery as well as a stronger dollar prompted profit-taking after seven weeks of gains on tightening supply from OPEC+ output cuts. Friday’s U.S. producer price index release saw the dollar climb to a five-week high, which hurts demand for crude as it makes the commodity more expensive for international buyers. (Peter Nurse and Oliver Gray contributed to this item.)
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By Wayne Cole SYDNEY (Reuters) - Asian share markets were in a cautious mood on Monday after a mixed U.S. jobs report sparked a rally in beaten-down bonds, but new hurdles lay ahead in the shape of U.S. and Chinese inflation figures due later this week. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction lower in thin trade, after losing 2.3% last week. Japan's Nikkei turned flat, having found support at its July low. A summary of the last Bank of Japan meeting showed members felt making yield policy more flexible would help extend the life of its super-easy stimulus. Chinese blue chips eased 0.9% with investors still disappointed at the lack of major and concrete stimulus steps from Beijing. EUROSTOXX 50 futures dipped 0.3% and FTSE futures 0.5%. Going the other way, S&P 500 futures added 0.3% and Nasdaq futures 0.5%. With roughly 90% of S&P 500 earnings reported, results are 4% better than consensus estimates with more than 79% of companies beating the Street. Results due this week include Walt Disney (NYSE:DIS) and News Corp (NASDAQ:NWSA). Data on U.S. consumer prices are forecast to show headline inflation picking up slightly to an annual 3.3%, but the more important core rate is seen slowing to 4.7%. Analysts at Goldman Sachs (NYSE:GS) see a downside risk to the numbers in part due to falling car prices, an outcome that might help keep the bond rally alive and kicking. In China, the market is looking for further signs of deflation with annual consumer prices seen down around 0.5%, and producer prices falling 4%. Any upside surprises would be a test for Treasuries which steepened markedly early last week ahead of a flood of new borrowing. In the event, a mixed payrolls report helped reverse much of the losses, particularly at the short tend. Futures imply only a 12% chance of a Federal Reserve rate hike in September, and 24% for a rise by year-end. Michael Gapen, an economist at BofA, cautioned the market was still expecting too much policy easing next year given the recent run of resilient economic data. "We now expect a soft landing for the U.S. economy, not the mild recession we had previously forecasted," wrote Gapen. "While the market implies between 120-160bps of Fed cuts in 2024 we look for only 75bps," he added. "There's simply less reason for the Fed to quickly pivot to rate cuts in 2024 when growth is positive and unemployment is low." As a result, the bank raised its year-end forecast for two-year and 10-year yields by 50 basis points to 4.75% and 4%, respectively. On Monday, two-year yields were ticking higher again to 4.82%, with the 10-year up at 4.06%. The pullback in yields took some steam out of the U.S. dollar, which was a shade firmer at 142.12 yen but short of last week's top of 143.89. The euro held at $1.0988, having bounced from a trough of $1.0913 last week. The dip in the dollar helped gold hold at $1,940 an ounce, after Friday's rally from $1,928.90. [GOL/] Oil prices paused having rallied for six straight weeks amid tightening supplies. The 17% climb in Brent combined with upward pressure on food prices from the war in Ukraine and global warming, is a threat to hopes for continued disinflation across the developed world. [O/R] Brent was off 8 cents at $86.16 a barrel, while U.S. crude also fell 8 cents to $82.74.
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earning as well as they released new car
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I am just reviewing some charts and just finished watching indy car qualifying in Toronto
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Stellantis (STLAM.MI). Il marchio Fiat di Stellantis ha ufficialmente presentato ieri al Lingotto, a Torino, i suoi ultimi due modelli: la nuova 600e, un Suv di piccole dimensioni offerto da subito in versione elettrica, e la city car Topolino.
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By Qiaoyi Li and Brenda Goh BEIJING/SHANGHAI (Reuters) -U.S. automaker Tesla (NASDAQ:TSLA) and its chief Chinese rival BYD achieved record deliveries of their China-made vehicles in the second-quarter, China Passenger Car Association (CPCA) data showed, as a fight for market share heats up. Tesla sold 93,680 China-made electric vehicles (EVs) in June, up 18.72% from a year earlier, when Tesla's factory in Shanghai delivered 78,906 China-made Model 3 and Model Y vehicles after the city ended a two-month COVID-19 lockdown. The U.S. automaker sold 247,217 China-made cars over April-June, the most since it started delivering vehicles from Shanghai in early 2020, the data also showed. Tesla reported record deliveries of 466,140 globally for the second quarter. Chinese rival BYD, with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, saw June sales surge 88.16% year-on-year to 251,685 vehicles, according to CPCA data. This was also the first time BYD's monthly sales surpassed 250,000 units and meant that between April to June, BYD delivered 700,244 vehicles, the data showed. CPCA estimated total sales of new energy passenger vehicles - both at home and for export, and including pure electric and plug-in hybrids - at 740,000 units in June, up 30% from a year earlier. It did not separate domestic sales and exports. The companies' sales surge point to how they are so far managing to stay ahead of their competition even as overall auto sales slow in China amid a softening economy. Tesla slashed prices for its two ageing models at the beginning of the year to boost sales and started a price war, prompting competitors - including BYD - to offer discounts or new lower-priced models. The EV sector is also being given additional support from the Chinese government, which wants to drive sales to shore up a faltering economic recovery. In June, Beijing announced 520 billion yuan ($71.67 billion) worth of purchase tax breaks on new-energy vehicles through the end of 2027. Caps on the tax exemption, however, may help drive sales growth of cheaper models that are mainly produced by domestic firms rather than premium vehicles from foreign makers, analysts said. ($1 = 7.2553 Chinese yuan)
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lol, they need to drop that magic word, maybe a AI self driving car
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"We view today’s report as supportive of our call for a pause at the June FOMC meeting, because the shelter stepdown looks increasingly durable, inflation breadth softened somewhat further, and the strength in used car prices is likely temporary." - Goldman
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part of the fun, need to voice trade while in car haha
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travel is up don't know about car rental
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car is a tough chart
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I forgot they are electric car. might get a pop. most likely reverse split after that
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the US economy is on the verge of a historical collapse. Think of all those car loans made in the last two years at stupid prices. Even $TSLA have discounted their cars by around 25% since the peaks. Who is going to repay those loans, they going to hand back the car. Commercial real estate is 20% empty, i.e = no tenant...but 30% of the rest are just paying the lease until they can get out. Home are to follow. The banks are all bust
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@Clive #The Sharp End
**What can be done** A message from Andy B a Sharp End Elite Trader "I've over complicated my trading in the past which is why it was bouncing along with no real progress. Under your guidance I've simplified it, not got greedy and become more patient. Seems to be working much better now. MY first Quarter was a bit of a car crash with those big oil trades we discussed really pummelling my account. Since the trading day I'm about 25% up so feeling much better about it all. The trading day at Gatwick was a real game changer. I'm pleased with how its gone since then but I'm not going to run before I can walk. I'm going to trade with this smallish account for the balance of this year just to make sure I'm competent. Then next year if I decide its a go I'll invest in a good screen set up and start trading a bigger account. However lets not put the cart before the horse baby steps."
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yeah @dros, Tsla is the best placed car company in many ways but market looking for an excuse maybe. However maybe they go easy or turn it around overnight, dont think they are ready to pull plug on the market yet
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$FNCH (+15.0% pre) Finch Therapeutics Reports Clinical Collaboration in Ulcerative Colitis http://ooc.bz/l/126371 $JNJ (+0.5% pre) Leaked study results show a CAR-T from J&J providing big benefit for patients with multiple myeloma - STAT http://ooc.bz/l/126372 $OPGN (+11.4% pre) OpGen (OPGN) Enters Distribution Agreement for Unyvero in the US with Fisher Healthcare - SI http://ooc.bz/l/126374
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HONG KONG/SHANGHAI (Reuters) -Chinese electric vehicle (EV) giant BYD said on Wednesday it was large enough to shake off the impact of a bruising price war and faltering demand in China, after reporting an 11-fold increase in fourth-quarter profit. The strong result came as it extended its lead in the Chinese market, thanks to an expanding range of products that is helping it overtake Volkswagen (ETR:VOWG_p) to become the top-selling brand. BYD's large scale would help it maintain strong profit margins despite a price war and the end of EV subsidies, Chairman Wang Chuanfu told reporters in Hong Kong on Wednesday, referring to developments that occurred after the end of the fourth quarter. The company posted on Tuesday a quarterly profit for October-December of 7.3 billion yuan ($1.06 billion), up from 602 million yuan a year earlier. The gross profit margin for automobiles and related products, which accounted for 77% of BYD's revenue in 2022, increased to 20.4%, well above the 3.7% margin in 2021. More than 40 auto brands, including BYD, followed Tesla (NASDAQ:TSLA)'s Jan. 6 move to cut prices to defend market shares amid weakening demand. But BYD is among the few winning market share. Bolstered by its Dynasty and Ocean series of plug-in hybrids and pure electric cars, BYD took overtook Volkswagen in February for the second month in four. BYD accounted for 41% of so-called new energy car sales in the world's biggest auto market for the first two months of the year. Tesla, by contrast, had an 8% share. Wang said he expected the company's vehicle sales to grow more than 80% in the first quarter, which would outperform the overall market but mark a slower pace compared to BYD's more than 200% sales increase in 2022. The Chinese EV giant has been slowing output since the start of the year when Beijing ended a national subsidy programme for EVs and plug-in electric vehicles. It has reduced shifts at two auto assembly plants in Shenzhen and Xian in China making its top-selling models including the Song and Qin EVs, Reuters reported last week. ($1 = 6.8756 Chinese yuan renminbi)
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By Amruta Khandekar and Shubham Batra (Reuters) - Wall Street's main indexes edged lower on Wednesday, ahead of the outcome of the Federal Reserve's rate-setting meeting in which the central bank will seek to balance inflation and banking sector concerns. Traders have halved the size of the expected interest rate hike to 25 basis points following troubles in the banking sector, with some pointing to the Fed's aggressive monetary tightening over the past year as one of the reasons for the crisis. Analysts have said a pause was unlikely as it would indicate the banking turmoil, sparked by the failure of two U.S. regional lenders, had rattled the central bank. The U.S. central bank's two-day policy meeting will end at 2 p.m. ET (1800 GMT), with investors keenly awaiting Fed Chair Jerome Powell's conference at 2:30 p.m. ET to gauge the central bank’s rate-hike trajectory. "In order to solve the banking problem, you really have to go back down to very low interest rates and I don't think that's going to happen," said Paul Nolte, senior wealth adviser and market strategist at Murphy & Sylvest. "What you're going to wind up with is a Fed that will probably be a little bit more focused on inflation and they're going to deal with the banking situation as it comes up." Eight of the S&P's 11 major sectors were in the red, with rate-sensitive real estate stocks falling 1.9% to their lowest level since Nov. 4. Apple Inc (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA) Corp, up 0.4% and 2.4% respectively, helped limit losses for the broader markets. Wall Street's main indexes notched gains in the past two straight sessions, after the rescue of Credit Suisse as well as measures by central banks to boost liquidity helped soothe some worries about risks to other banks. However, a scramble by troubled regional U.S. lender First Republic Bank (NYSE:FRC) to secure a capital infusion has kept alive some worries about the banking sector. Shares of First Republic slid 4.4%, with a Bloomberg News report on Tuesday stating the bank's rescue could rely on backing from the U.S. government to facilitate a deal. Shares of its peer PacWest Bancorp were down 7.9%, while Western Alliance (NYSE:WAL) Bancorp was marginally up 0.1%. U.S. Treasury yields rose, with the yield on the two-year note, which best reflects interest rate expectations, last at 4.212%. At 9:42 a.m. ET, the Dow Jones Industrial Average was down 31.96 points, or 0.10%, at 32,528.64, the S&P 500 was down 4.51 points, or 0.11%, at 3,998.36, and the Nasdaq Composite was down 17.73 points, or 0.15%, at 11,842.38. Among other stocks, Virgin Orbit Holdings Inc soared 42.3% after Reuters reported the company is near a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown. GameStop Corp (NYSE:GME) jumped 32.1% after the company posted a surprise profit for the fourth quarter, helped by lower costs and job cuts. Carvana Co (NYSE:CVNA) rose 17.8% after the used-car retailer forecast smaller core loss in the current quarter due to a raft of cost-cut measures. Declining issues outnumbered advancers by a 1.56-to-1 ratio on the NYSE a 1.75-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and four new lows, while the Nasdaq recorded 13 new highs and 34 new lows.
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By Liz Moyer Investing.com -- U.S. stocks were falling after fresh data showed prices accelerated in January, stoking fears about interest rates. At 10:31 ET (15:31 GMT), the Dow Jones Industrial Average fell 490 points or 1.5%, while the S&P 500 was down 1.6% and the NASDAQ Composite was down 2.1%. A key inflation measure used by the Federal Reserve, called the personal consumption expenditure index, rose 0.6% in January, faster than the 0.2% gain in December. On an annual basis, PCE rose to 5.4% in January from a 5.3% gain in December. Core prices, stripping out fuel and food, rose 0.6% and 4.7% for the month and year, respectively. The readings were higher than expected. Hotter-than-expected inflation could encourage the Fed to keep interest rates higher for longer. The market expects the central bank to raise rates by a quarter of a percentage point in March and again in May. The policy rate is expected to reach 5.36% by mid-summer and could remain elevated for the rest of 2023. Shares of Carvana Co (NYSE:CVNA) sank 16% after the used car dealer known for its car vending machines posted a wider-than-expected loss and declining revenue in the fourth quarter because demand for used cars has dwindled. Boeing Co (NYSE:BA) stock fell 4.4% after the plane maker suspended deliveries of its Dreamliner 787 model to examine a fuselage component. Oil was falling. Crude Oil WTI Futures were down 0.7% to $74.89 a barrel, while Brent Oil Futures were down 0.4% to $81.91 a barrel. Gold Futures fell 0.4% to $1,819.
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2nd hand car prices starting to recover
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$XOM Feb03 115 P $C Jan-24 45 P $UAL Jan-24 28 P $PHG Apr 15 P $PFE Feb03 43 P $PLTR May 7 P $AR Mar 30 P $RL Apr 100 P $BHC Dec-25 3 P $JWN Apr 15 P $AAPL Mar 105 P $AMC Jul 5 P $MPW Apr 11 P $COOP Apr 40 P $FITB Feb 35 P $DASH Mar 50 P $SHLS Feb 25 P $KGC Mar 4.5 P $BIG Apr 12.5 P $CAR Mar 150 P $MSFT Jun 130 P $W Mar 35 P
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$XOM Feb03 115 P $C Jan-24 45 P $UAL Jan-24 28 P $PHG Apr 15 P $PFE Feb03 43 P $PLTR May 7 P $AR Mar 30 P $RL Apr 100 P $BHC Dec-25 3 P $JWN Apr 15 P $AAPL Mar 105 P $AMC Jul 5 P $MPW Apr 11 P $COOP Apr 40 P $FITB Feb 35 P $DASH Mar 50 P $SHLS Feb 25 P $KGC Mar 4.5 P $BIG Apr 12.5 P $CAR Mar 150 P $MSFT Jun 130 P $W Mar 35 P
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car lol you hv lot of stocks anyways > @dros said: or buying the cars at these lowered prices
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By Noor Zainab Hussain and Hannah Lang (Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. The bank's shares were down nearly 4% in premarket trade. The fourth-largest U.S. lender reported a profit of 67 cents per share for the quarter ended Dec. 31, compared with $1.38 per share a year earlier. On an adjusted basis, the bank earned 61 cents per share, compared with analysts' estimates of 66 cents per share, according to Refinitiv IBES data. Provision for credit losses was $957 million in the quarter, compared with a $452 million release a year earlier. Provision for credit losses in the quarter included a $397 million increase in the allowance for credit losses primarily reflecting loan growth, as well as a less favorable economic environment, the bank said. Though Wells Fargo (NYSE:WFC)'s operating losses were "one-offs" related to litigation and regulatory and customer remediation, its results were disappointing, said Thomas Hayes, chairman and managing member at Great Hill Capital. "Of the major banks, Wells is the weakest of the reports today. They continue to underwhelm," he said. Banks are building up rainy day funds as U.S. Federal Reserve policymakers decide on the future path of interest rates. After aggressively raising interest rates in an attempt to bring soaring inflation to heel, Fed policymakers say they are encouraged by the recent slowing in jobs and wage growth that could temper inflation. The outlook for big U.S. banks has been further clouded by the Russia-Ukraine conflict and fading stimulus. Higher borrowing costs have also softened demand for mortgages and car loans, crimping banks' revenues. Meanwhile, a slump in dealmaking has weighed on banks' investment banking businesses, which had a blockbuster 2021. Wells Fargo is still working to contain the fallout from a six-year-old scandal over its sales practices that led to hefty fines and an asset cap imposed by the Fed on the lender's ability to expand its balance sheet. In December, the U.S. Consumer Financial Protection Bureau hit Wells Fargo with the watchdog's largest ever civil penalty as part of a $3.7 billion agreement to settle charges over widespread mismanagement of car loans, mortgages and bank accounts. The bank said its estimate of reasonable possible losses in the fourth quarter is around $1.4 billion, down from $3.7 billion as of the end of September. "I wouldn't say we are done with all the regulatory work but what I would say is we put a lot of issues behind us over the last couple of quarters and you can see that come through in the reasonable possible loss estimate, said Wells Fargo Chief Financial Officer Mike Santomassimo on a media call with reporters. Overall, non-interest expenses rose to $16.2 billion from $13.2 billion a year earlier. In the fourth quarter, the bank posted $3.3 billion in operating losses related to litigation, customer remediation and regulatory matters associated with the scandal over its sales practices. The fourth-largest U.S. lender reported a profit of 67 cents per share for the quarter ended Dec. 31, compared with $1.38 per share a year earlier. Chief Executive Officer Charlie Scharf is working on fixing the bank's problems after it spent billions on lawsuits and regulatory fines. As part of his turnaround plan, Scharf aims to cut costs, scale back Wells Fargo's huge mortgage business and expand its investment banking business. "While our risk and regulatory work hasn't always followed a straight line and we have more to do, we have made significant progress, and are moving forward," Scharf said. Art Hogan, chief market strategist at B. Riley Financial, called Scharf's comments constructive. "Wells Fargo results were a combination of higher-than-expected expenses for the fourth quarter as well as lower-than-expected revenue," he said. Wells Fargo has struggled over the past few years to satisfy regulators that it has fixed its problems and repaid customers who were harmed by its aggressive sales practices. The company's net-interest income rose 45% to $13.4 billion in the quarter. Total revenue fell to $19.7 billion from $20.9 billion a year earlier.
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I remember The VW ceo SAYING mUSK COULD MAKE A CAR IN 1/3 TIME IT TOOK VW. Thats a hell of a competitive advantage when it comes to price war
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huge price drops for TSLA, got to hurt margins a bit but I expect its a bodyblow to the nascent Electric car makers and legacy auto
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Next Dividend Date
avis budget group, inc. is a leading global provider of vehicle rental services, both through its avis and budget brands, which have more than 10,000 rental locations in approximately 175 countries around the world, and through its zipcar brand, which is the world's leading car sharing network, with more than 900,000 members. avis budget group operates most of its car rental offices in north america, europe and australia directly, and operates primarily through licensees in other parts of the world. avis budget group has approximately 30,000 employees and is headquartered in parsippany, n.j.
CEO: Joseph Ferraro
HQ: 6 Sylvan Way Parsippany, 07054-3826 New Jersey


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Chinese Bike-sharing Platform Targets Last-mile Transport in Southeast Asia
ofo wants to help millions of people make short journeys in their cities convenient and affordable
PHOTO CREDIT: Getty Images
Though you might assume bike-sharing platform and Chinese unicorn ofo chooses its cities for expansion based on their existing bike cultures, the company chooses to look at another metric: heavy traffic.
The three markets that ofo operates in across Southeast Asia — Singapore, Malaysia, and Thailand — all regularly face severe gridlock on their roads.
Alan Jiang, ofo’s Head of Southeast Asia, shared that the Global Traffic Scorecard tallied Thailand drivers as spending 64.1 hours per year stuck in traffic, while drivers in Singapore clocked in at 10.5 hours. Drivers in Kuala Lumpur also spent 1.2 billion liters of fuel in traffic, which amounts roughly to 2% of their GDP, according to a 2015 World Bank report.
“With traffic congestion ranking high in these countries, ofo hopes to complement the urban transportation infrastructure, lower carbon emissions, promote the shared economy culture, and help millions of people make short journeys in their cities convenient and affordable,” Jiang says.
In partnership with the China Academy of Transportation Sciences and the Laboratory of Advanced Public Transportation Science, they found that every kilometer traveled by ofo users reduced carbon emissions by 0.27 kilograms on average. Since ofo users have traveled over 50 million kilometers collectively, they have lowered aggregate carbon emissions by an estimated 13,500 tons.
For ofo to make an even greater impact, the company has to strengthen, if not create, the bike-sharing culture across Southeast Asia. The biggest impediment to this goal is what Jiang calls the infrastructure maturity of the region.
“More often than not, we observe that Southeast Asian countries’ city planning did not account for a car-lite transportation system, with cycling serving as a mode of first and last mile transport, hence, there is a critical need to break this initial hurdle by mapping bike lanes and parking zones for our users,” he says.
ofo is taking a localized approach to this issue. They are working with the appropriate government agencies to do everything from educating new bicyclists on responsible biking practices to identifying and demarcating designated parking areas to facilitate the implementation of ofo’s geo-fencing system.
In Singapore alone, they’ve created more than 400 parking zones in collaboration with the Land Transport Authority (LTA), which not only provides users with parking convenience but also tackles the issue of indiscriminate parking.
ofo’s target market are people who want to make a short trip in the range of 1 to 3 kilometers, and less often, users who want to take longer trips, particularly for exercise. To make it as quick and convenient as possible for these target users, ofo makes regular updates for both the software side and hardware side of their platform.
For software, ofo leverages user data to cater their operational strategy toward areas of high usage.
As for hardware, Jiang says, “We are also aware of the dangers of night cycling, and to ensure the safety of all ofo users, our bikes are equipped with LED front lights and solar powered back lights to maintain visibility for our riders.”
Globally, ofo has over 200 million users, connecting more than 10 million bikes in over 200 cities spread across 18 countries. Jiang says consumer adoption of ofo in Southeast Asia as measured via app downloads and sign-ups is also high.
“In line with our mission to reduce carbon emission and traffic congestion for the greater good of everyone, we are encouraged by the numbers and the positive environmental impact that bike-sharing will provide for the cities in the long run,” Jiang says.
Jiang has the unique perspective of working for two flagship companies in the sharing economy — first with Uber, and now with ofo.
“The sharing economy is a unique and extremely fragmented industry where it is a constant battle for you to gain market share across the industry before your competitors do, localizing your key messages to fit the multiple cultures and languages, navigating unique political environments, connecting with local business contacts, and recruiting for a local team,” he says.
Despite how fierce competition can become in the sharing-economy, Jiang is confident that the region will be transformed by the industry.
“Building a start-up is a grueling journey, but I think Southeast Asian start-ups have huge potential and I am extremely bullish on the region. In the words of Nelson Mandela, ‘It always seems impossible until it’s done,’” he says.

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New information is surfacing about eBay’s mobile shopping successes this holiday shopping season. As it turns out, 2012 has already delivered eBay’s biggest mobile shopping day in company history.
This week, news came to light that December 9th was eBay’s “biggest mobile shopping day” ever.
On that date, eBay saw its transacted mobile volume spike 133% over what was 2011’s biggest mobile shopping day – December 4th.
Steve Yankovich, eBay’s VP of mobile, says that one-third of all eBay transactions are “touched” by mobile, meaning “users access listings or post via mobile even if the sale isn’t made on a mobile phone.”
“We’re seeing a change in the way people are shopping because of mobile, and this has turned the holiday shopping calendar on its head,” Yankovich tells Tech Crunch. As of this writing, eBay and PayPal forecast $10 billion in mobile transactions and mobile payments volume.
To learn more about eBay’s power play in mobile, check out the infographic below.


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Even as we look forward to the launch of the Samsung Galaxy S11 series, a new development has come up. This interesting development has to do with this year’s Samsung Galaxy S10+.
According to @stufflistings on Twitter, the Galaxy S10+ is getting a new variant that has just gotten TENAA certification. This new variant will have 6GB of RAM.
From the TENAA listing, the new 6GB device has model number SM-G9750. This points to the international model of the Samsung Galaxy S10+. The original S10+ launched with 8GB and 12GB RAM options.
Also, as seen from the listing, the new Galaxy S10+ is physically similar to the original one. The listing shows the device in black.
It is not yet clear when Samsung will officially unveil the Samsung Galaxy S10+ with 6GB RAM. We can only wait.


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A total of 1.75 billion mobile phones were sold in 2012, according to Gartner. Smartphone sales rose to a record 207.7 million smartphones in the fourth quarter of 2012, 38 percent more than in the same period in 2011.
In the midst of this surging growth, the biggest mobile trade show in the calendar kicks off on February 25 in Barcelona, Spain.
There will be plenty to watch for: new technology, software and content, as well as several new smartphone launches.
So what are some of the hottest mobile trends in the fast growing mobile market right now? Read on.
Google has been touting Internet-connected glasses, which are expected to be released to the market later this year.
The company recently released a video on YouTube showcasing the device, and Google founder Sergey Brin was spotted on New York's subway testing the device.
Other eagerly-anticipated wearable gadgets include the rumored Apple "iWatch." Industry watchers think Apple can catalyze wearable accessories with the "iWatch" like it previously catalyzed smartphones and tablets with iPhone and iPad, Neil Mawston, executive director at Strategy Analytics, told CNBC.com.
5-Inch Hi-Definition Screens
Is it a phone or is it a tablet? Actually, it's a "phablet," and David Garrity at GVA Research told CNBC that 2013 will see the rise of the phablet and expects a plethora of companies to launch products in the sector.
"Consumers, however, will be faced with the challenge of how one actually carries a phablet around as the form factor does not lend itself to fitting a trouser or jacket pocket," he said.
"Expect fashion designers to be thrown into a frenzy of activity managing the intersection of humans and hardware."
An ultra-fast chip with four independent units may already be inside many current phones but it's slated to be de rigueur for 2013.
The fourth generation of mobile phone communications standards can bring ultra-broadband Internet access while on the move.
Coverage might be sketchy at the moment, but it's coming broadly -- and soon.
Texting in the bath? Why not?
Sony says the new Xperia Z can be kept under 1 meter of fresh water for up to 30 minutes, and the feature could be coming to more phones on the market.
(See The Entire CNBC Slideshow "Hottest Mobile Trends")
More from CNBC:
- Technology & Electronics
- Handheld & Connected Devices


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Uncle Charley#8217;s brings color
Published 12:00 am Friday, August 3, 2007
There’s a new superhero in town, or at least a new restaurant that uses superheroes as its theme.
Uncle Charley’s Comic Strip Caf/ opened on Wednesday in the Ironton City Center and uses the primary colors as its theme.
“It’s eye catching,” said the owner, Vanessa Fuller. “I wanted to make it inviting for people.”
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This is Fuller’s first restaurant and she said it is something she has always wanted to do.
always liked to cook,” she said. She enjoys coming up with her own recipes and sauces.
It is not her first time in business. She helped her late husband, Gerald, run a mobile home set up company when they lived out West in Nevada, Arizona, and Wyoming. After he died 10 years ago, she came back home to Ironton where her family lives.
The caf/’s comic book theme came from her brother, Charles. They were at a Huntington, W.Va. comic book store and Vanessa was looking at the customers.
“I saw old people, young people, middle-aged people and they were there buying comic books,” Fuller said. “I was thinking about the restaurant and realized that everyone likes comic book characters. And I didn’t know of any other restaurant with this theme before.”
Each food has a name based after characters created by her brother and employee J.B. a long time ago.
There are breakfast meals like the Titan, the Heavy Duty and Wild Welder, side dishes like Captain Thunder’s green beans, Gandor’s smashed potatoes, sandwiches like the Vorcatron burger, Super Dog, Gargantua’s chicken strip salad, and dinners like the Strong Man (pork chops), the Master Arc (open faced roast beef sandwich) and the American (open faced turkey sandwich.)
Fuller said one of her specialties is the Savato, which is pasta covered in marinara sauce.
“It is all my own recipes, I just add spices to give it a better flavor,” she said.
Eventually, Fuller would like to expand her restaurant and to add merchandising.
“I want to have one in Ashland and one in Huntington,” she said. “And I would like to sell my sauces, my T-shirts and eventually, my own cookbook.”
As for the name, Charley is the name of her father and she added “uncle” to sound friendlier.
The caf/ is located at 301 South Third St. It is open from 7 a.m. to 7 p.m.


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EE or Everything Everywhere! It was the first cellular network provider that brought 4G LTE to the UK. Its primary target for 2013 was to reach one million customers, under its 4G network.
Well, the Company in a press release earlier today announced that not only did it achieve its goal, but surpassed it by double. The cellular now has 2 million people from the island, using 4G. It has also mentioned that its network offer 70 percent coverage for 4G in the UK, and the company plans to expand this further throughout the year.
“Our 4G launch in October 2012 marked a new era for mobile users, allowing consumers and businesses to do much more on the move.” EE CEO, Olaf Swantee said in a statement.
“We’re incredibly proud of being the first UK operator to bring 4G to the UK and, in just over a year, exceeding our target by reaching two million 4G customers across the country. We continue to have particular success converting our existing base to 4G, with approximately two out of three new 4G customers moving over from Orange and T-Mobile plans.”
Make sure to check in with our CES 2014 coverage for the latest updates, product announcements and press releases that take place in the show.
Have something to add to this story? Leave it in the comment section below.


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What is UPI?
UPI full form is the Unified Payment Interface. UPI means an instant real-time payment system developed by the National Payment Corporation of India. In a UPI transaction, a user can transfer money on a real-time basis across multiple bank accounts by using a UPI pin. UPI pin means the number you enter when you make a transaction. The transactions can be done through the Bhim UPI application.
Increase in Digital Payments
The total transactional value of UPI has gone to Rs. 1.91 lakh crore during October, up from Rs 1.61 lakh crore in September.
Enhancements such as P2PM and IPO applications are being used to accelerate the adoption of digital payments further.
About 5.35 billion transactions were recorded in 2018-19 as compared to 915.2 million in 2017-18.
The NPI mentioned,
“The total transactions of UPI jumped to 1.15 billion in October 2019 from 0.96 billion in September 2019.”
“The simple, safe, and cost-effective mobile-based payment system has become one of the most prominent forms of digital payments.”


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News headlines about Costco Wholesale (NASDAQ:COST) have trended positive on Sunday, Accern Sentiment Analysis reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Costco Wholesale earned a media sentiment score of 0.32 on Accern’s scale. Accern also gave media stories about the retailer an impact score of 45.9837520265473 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have effected Accern’s analysis:
- Costco Earnings: 3 Numbers to Watch – Motley Fool (fool.com)
- Costco Could Disappoint on Margins in 1Q18 (finance.yahoo.com)
- Costco: Analysts’ Recommendations and Target Price (finance.yahoo.com)
- Here’s how you get can a membership for Costco, FREE food and vouchers for £30 – Liverpool Echo (liverpoolecho.co.uk)
- Moves Back And Forth on Declarations: Costco Wholesale Corporation (NASDAQ:COST), Ulta Beauty, Inc. (NASDAQ … – Investing News Update (investingbizz.com)
Costco Wholesale (COST) traded up $1.87 during mid-day trading on Friday, reaching $188.07. Costco Wholesale has a 1-year low of $150.00 and a 1-year high of $191.22. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $82,180.00, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 3.05 and a beta of 0.98.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, November 16th. Costco Wholesale’s dividend payout ratio is currently 32.89%.
A number of brokerages recently weighed in on COST. Robert W. Baird restated a “buy” rating and set a $200.00 target price on shares of Costco Wholesale in a research report on Thursday, August 31st. Stifel Nicolaus restated a “buy” rating and set a $173.00 target price on shares of Costco Wholesale in a research report on Monday, October 9th. Vetr lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $171.07 target price for the company. in a research report on Monday, November 6th. J P Morgan Chase & Co restated a “buy” rating and set a $200.00 target price on shares of Costco Wholesale in a research report on Monday, December 4th. Finally, Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $179.50.
In other news, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total value of $164,920.00. Following the sale, the director now owns 6,974 shares of the company’s stock, valued at $1,150,152.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard M. Libenson sold 2,350 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $162.00, for a total transaction of $380,700.00. Following the completion of the sale, the director now directly owns 4,109 shares in the company, valued at approximately $665,658. The disclosure for this sale can be found here. In the last three months, insiders sold 32,842 shares of company stock worth $5,520,848. Insiders own 0.74% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Costco Wholesale (COST) Earning Favorable Media Coverage, Study Finds” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://stocknewstimes.com/2017/12/10/costco-wholesale-cost-earning-favorable-media-coverage-study-finds.html.
Costco Wholesale Company Profile
Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.
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JOHN LOK / THE SEATTLE TIMES
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As U.S. companies cut spending, factories in China go bankrupt
Trade with China through Seattle's seaport accounted for $18 billion last year, more than double the amount of its second-largest trading partner, Japan. In Seattle, cargo volume for November was down 22 percent from last year and down 12.5 percent for the year so far.


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© otnaydur-dreamstime.com Components | August 22, 2014
Murata to acquire Peregrine Semiconductor
Murata will acquire Peregrine Semiconductor in a transaction valued at USD 471 million.
Murata Electronics North America, a subsidiary of Murata Manufacturing, and Peregrine Semiconductor Corporation (Peregrine), have entered into a definitive agreement under which Murata will acquire all outstanding shares of Peregrine not owned by Murata, for USD 12.50 per share in cash, or a total transaction value of USD 471 million (USD 465 million excluding Murata’s existing holding). Upon closing of the transaction, Peregrine will become part of Murata’s strategy to expand its core business. Peregrine will become a wholly owned subsidiary of Murata and continue with its current business model of solving the world’s toughest RF challenges. “This acquisition will combine Murata’s world-leading mobile RF module capabilities with Peregrine’s best-in-class RF front-end products. Peregrine has a team of talented RF engineers,” said Norio Nakajima, Executive Vice President , Director of Communication Business Unit of Murata. “Peregrine invented RF SOI, has led its development for 20 years, and accomplished a large number of industry firsts. We have worked closely with them for many years. Their innovation, including the Global 1 all-silicon integrated RF front-end, is a key strategic area for the mobile industry. This transaction will deepen our existing partnership and position us to meet the expanding opportunities in this field.” “Murata is the world’s leading RF module and filter provider, and we have benefited from our many years of partnership with them. The combination of Murata’s leading products with Peregrine’s leading-edge SOI products will position us to compete aggressively in our chosen markets,” said Jim Cable, PhD, Chairman and CEO of Peregrine Semiconductor. “As part of the Murata team, we will be able to expand our existing partnership and speed the industry’s transition to an integrated, all-CMOS RF front-end. We remain committed to providing leading solutions to customers in all our current markets. We have huge respect for Murata’s capabilities, and look forward to jointly accomplishing great things.” Peregrine will also provide Murata with a strong portfolio of Intellectual Property Rights (IPR) covering the entire RF SOI front-end. The transaction, which has been approved by both companies’ boards of directors, is expected to close by the end of 2014 or early 2015, subject to Peregrine’s stockholders’ approval, regulatory approvals, and other customary closing conditions.
Farnell signs new distribution agreement with KOA Farnell says it has strengthen the depth and breadth of its passive component range with the addition of KOA Europe GmbH.
II-VI with domestic and foreign acquisitions Compound semiconductor specialist, II-VI Incorporated, has entered into a definitive agreement to acquire all outstanding shares in Swedish SiC epitaxial wafers specialist, Ascatron AB. At the same time, II-VI says it will acquire all the outstanding interests of the owners of the parent of INNOViON Corporation.
Microsoft invests in AI Chip company Syntiant, a deep learning tech company providing AI voice and sensor solutions, has completed a USD 35 million Series C funding round.
Meyer Burger sells its microwave and plasma maker Muegge Meyer Burger Technology is selling its microwave and plasma technology company Muegge GmbH, to investment company HQ Equita.
ON Semi looking to sell Japanese facility ON Semiconductor is exploring a sale of its manufacturing facility in Niigata, Japan. The intended sale of the facility is part of the company’s plan to optimise its manufacturing footprint and sharpen its focus on highly differentiated power, analog and sensor products.
New VP of business development at Smith The distributor of electronic components and semiconductors has appointed Renato Souza to the position of Vice President of Business Development. Renato previously served as Vice President, Latin America of Smith since 2017.
Bosch launches 5G tests at Reutlingen wafer fab The German company believes 5G will be a key building block of digitalization and connectivity in manufacturing and logistics. And for that reason, Bosch is now starting compatibility tests and channel measurements for setting up a 5G network in its wafer fab in Reutlingen.
ACM Research receives orders from two new analog/power IC customers The supplier of wafer cleaning technologies for advanced semiconductor devices, has received purchase orders and final stage bidding activities for a total of USD 36 million from two new China-based customers that manufacture analog and power IC devices.
ClassOne's Solstice plating system selected for advanced MicroLEDs Semiconductor equipment manufacturer ClassOne Technology announces the sale of its Solstice GoldPro electroplating system to an unnamed developer of microLED technology for advanced applications.
Jenoptik: order intake down on prior year; order backlog slightly up From January through early March business performance was in line with expectations, but clear impacts of the corona pandemic and increasing uncertainty within the automotive industry became apparent from late March on.
Smiths Detection completes acquisition of PathSensors Smiths Detection has completed the acquisition of PathSensors, a bio-technology solutions and environmental-testing company, based in Baltimore, MD, USA.
Saab divests Dutch-based QPS Saab has divested the Dutch-based company QPS (Quality Positioning Services), a provider of hydrographic software solutions within the global maritime industry. The decision is in line with Saab’s strategy to optimise its product portfolio and increase focus on five core areas.
Eyeing SiC and GaN potential – GlobalWafers team up with NCTU Advancements in 5G and electric vehicle technologies are bringing the mounting demands of power semiconductor. GlobalWafers is teaming up with the National Chiao Tung University (NCTU) to develop the third generation semiconductor material.
Phison expands with new R&D centre Taiwanese NAND Flash controller IC and storage solutions provider, Phison Electronics, broke ground on a new R&D center and inventory management in Guangyuan Science Park in Zhunan township, back in late march.
Infineon swings to loss as the pandemic continues impact target markets “Infineon has so far coped well with the challenging situation caused by the coronavirus pandemic. As a company, we reacted quickly to the new situation and established a framework that has enabled us to stabilize our business,” says CEO Dr. Reinhard Ploss.
Murata completes new production building The Japanese manufacturer’s subsidiary, Izumo Murata Manufacturing, has completed the construction of a new production facility which started back in August 2019.
Analog Devices team up with Intel to address 5G network design challenges The companies are collaborating to create a flexible radio platform that addresses 5G network design challenges and will enable customers to scale their 5G networks more quickly and economically.
Atlas Copco has acquired the technology and operating assets of iTrap The Swedish company has acquired a technology for process diagnostics and control in the semiconductor industry.
Goodix closes acquisition of Dream Chip Technologies Shenzhen Goodix Technology Co. Ltd., an integrated solution provider, has completed its acquisition of Dream Chip Technologies GmbH (DCT), a fabless German semiconductor technology company.
Rebound Electronics team up with IHS Markit The pace of change in the electronics industry continues unabated for all customer types – OEM, ODM and EMS. This is driven by all component manufacturer types – including semiconductor, passive, connector and electromechanical – dynamically changing pricing, lead time, life cycle management and more.Load more news


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Australians may be known as early adopters of new technology but many are reluctant to use mobile payment solutions due to a ‘fear factor’ – something Sniip is tackling head-on.
Sniip CEO Damien Vasta says perceived security and privacy fears have been a significant obstacle to widespread adoption of mobile payments in Australia.
Deloitte Australia’s Mobile Consumer Survey 2015 found that while Australian mobile consumers are actively participating in the growing mCommerce marketplace, it appears they are disinclined to use their smartphones in the same way they currently use their bank or credit cards.
Nearly half of the respondents cited ‘the perceived lack of security’ as the reason for not using their smartphone for payments. The same report states that this perception reflects misconceptions rather than reality as mobile payments are considered more secure than card based systems.
According to Sniip CEO, Damien Vasta, consumers fear the unknown in relation to fraud, privacy loss and identity theft. There are also general trust issues when it comes to mobile devices and credit cards.
“While the mobile payment solutions currently out there in the market attempt to allay these fears and reduce fraud, consumers still don’t seem fully convinced.
“This is why Sniip has tackled security head-on, with unique and secure technology. But we’ve also made it incredibly easy to understand,” he said.
Sniip securely stores information that is required to complete an order, with the added protection of a 4-digit security PIN.
Sniip doesn’t store credit card information on any database or cloud-based server. The user’s credit card data is encrypted and securely stored on their mobile device.
“Using Sniip is more secure than carrying a physical wallet. It requires a 4-digit PIN to be entered for any transaction, similar to the security measures of banking apps,” Mr Vasta said.
“No one can view card details or make a purchase without this PIN. The payment card data is stored securely on the device. And if a user misplaces their phone, their account can be easily disabled remotely,” he said.
Sniip has achieved full PCI DSS compliance. The highest level of safety certification in the payment card data security industry – including prevention, detection and appropriate reaction to security incidents.
Sniip also differs from other mobile payment solutions as the first app in Australia not restricted to any one banking or credit card brand.
Consumers simply scan any Sniip code displayed on a bill, magazines, catalogues, newspaper ads or inside a store and can pay instantly using their secure Sniip mobile wallet.
Sniip brings together a variety of retail shopping brands and service providers under one easy to use app. You can shop across the entire Sniip community of retailers, pay your bills and even pay your parking.
Registration only takes a minute and you’ll never have to re-enter credit card and shipping details again.
More than 90 retailers have already signed up with Sniip, and in the public sector Toowoomba Regional Council is trialling the new mobile payment technology with its ratepayers.
As a free app to download and low cost solution for businesses and organisations, Sniip is fast, simple and secure.


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From the FBI Press Release:
"Preet Bharara, the United States Attorney for the Southern District of New York, announced that prominent wine dealer RUDY KURNIAWAN was sentenced today to 10 years in prison for carrying out an elaborate scheme in which he manufactured and sold counterfeit bottles of purportedly rare and expensive wine for millions of dollars, and for fraudulently obtaining a $3 million loan from a financing company. KURNIAWAN was found guilty in December 2013 following a one-week jury trial before U.S. District Judge Richard Berman, who also imposed today’s sentence."
Manhattan U.S. Attorney Preet Bharara said: “Rudy Kurniawan planned and executed an intricate counterfeit wine scheme, mixing cheaper, more common wines, bottling the mixture into old bottles with fake labels, and then fraudulently selling those bottles for millions of dollars. Now, Kurniawan will trade his life of luxury for time behind bars.”


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Senator SIEWERT (Western Australia) (10.03 am)—One would wonder why advertisers bother spending millions of dollars on advertising. Given the two speeches I have just heard in this place, it is obvious that advertising has an impact; otherwise, advertisers would not be spending millions on it.
The Protecting Children from Junk Food Advertising (Broadcasting Amendment) Bill 2010 amends the Broadcasting Services Act 1992 to encourage healthier eating habits among children and to prohibit the broadcasting of advertisements for junk food during certain times. The bill is not the sole thing we need to do to address obesity and associated diseases in our children, our juveniles and our adult population. The Greens have never ever said that—not once. This is part of the comprehensive approach we need to take to manage the obesity epidemic in our community. Some people are saying that we are going to be the peak of the healthiest generation and that life expectancy will in fact decrease from now because of our unhealthy habits. We have to do something about this epidemic.
The current restriction on advertising to children— people under 14 years of age—set out in the Children’s Television Standards 2009, applies from 7.00 am to
8.30 pm. The bill amends these times to cover the period between 6.00 am and 9.30 pm. A range of key stakeholder organisations, including the Obesity Policy Coalition, have argued that the existing time frame does not represent the actual viewing times of children in this age group. Those organisations support the extension of time to ensure the advertising restriction is effective.
In Australia, 62 per cent of men and 45 per cent of women are considered overweight or obese. High body mass contributes 7.5 per cent to the overall health burden in Australia, with type 2 diabetes at 40 per cent and heart disease at 34 per cent as the major risks. Obesity rates in Australia are generally increasing, so we quite clearly need to address this issue.
Currently in Australia the potential cost saving to the health sector would be $812 million—if we are able to eliminate, for example, just obesity issues. Those statistics give a brief snapshot of why it is so important that we address this issue. Not only are there some very important economic considerations but, most importantly, this is about the health of our community and future generations, ensuring that we have good health programs which generally improve the health of the Australian community.
Successive governments have run advertising and information campaigns to improve diets and increase physical activity with the aim of preventing or reducing obesity and improving our health. Despite these campaigns, obesity rates have continued to rise—the latest figures were released last week. This suggests that to date some of these programs may well not have been effective and that, if we are going to change behaviour, we need to provide different information. A lot of these campaigns have been undermined directly by advertising of products on television to our children. We need to refocus our social marketing campaigns, deal with economic incentives and, in some cases, change our legislative base—for example, by banning junk food advertising, an approach the Greens have been advocating for some considerable time as part of an integrated approach to dealing with this issue.
We need a greater understanding of consumer interaction. This conclusion is supported by research in behavioural economics which has shown that, in many cases, even when consumers have ready access to understandable information, they still fail to choose the products or the services which best suit their needs— because people may ignore or misinterpret relevant information or fail to act because of other barriers to them changing their behaviour.
Biases in consumer decision making are well known to traders of goods and services. They have large marketing budgets and present their products in the best possible light within the limits of the law. They may also exploit consumer biases to increase demand for their products. That is what advertising is all about— let us face it. The large amount of advertising generated by the manufacturers of junk food, for example, makes it very difficult for healthy eating messages to be effective. Again, it highlights the need for strong programs and a variety of programs to tackle this problem from a variety of angles. It also highlights the need for consumers to be involved in assisting in the advisory process, particularly talking to parents.
In marketing to children, advertisers have encouraged the phenomena of what has been called ‘label pester power’. This has been defined as the constant demand for parents to purchase items, be they clothes, toys, gadgets, or various other goods—in particular, food. Pestering consists of persistent nagging—that is, pleas which are repeated consistently for parents to purchase an item. This type of pestering is not as effective with parents as ‘importance nagging’. Importance nagging represents a more sophisticated means by which children claim that something is necessary for their educational or sporting progress, or for their general wellbeing, which is where the issues concerning food come in. Importance nagging takes advantage of parents’ desire to provide the best for their children, and plays on any guilt they may feel about not spending enough quality time with their children.
According to the Australian Centre for Science in the Public Interest, pestering strategies undermine parental authority, which is where we come to this business of ‘It’s all about parental authority’. Parents are forced to choose between being the bad guy by saying no to junk food, or giving in to incessant demands. This conflict in negotiation between parents and children is recognised as ‘co-shopping’, which is when children are in the shopping centre with their parents. Parents describe this as extremely stressful because of the constant purchase demands made by children. Anybody who has been in a shopping centre with children will understand exactly what I am talking about.
An increasing number of overseas findings agree that television commercials for sweets, snacks and fast foods are the mainstays of advertising which targets children. According to a 2007 study by the American Kaiser Family Foundation, half of all advertising time on children’s television is devoted to food advertising. What does that say about what advertisers want to do? They know their market. They spend an enormous amount of money advertising their products very creatively to children. That is why they advertise these products to children so that children will want to pester their parents to buy them. It is quite obvious. Product makers could save an enormous amount of money if they thought advertising was not working. Many advertisements associate physical activity with the products and highlight the health benefits to be gained by their consumption. It is often stressed that they contain ‘essential nutrients’.
The British Heart Foundation’s Children’s Food Campaign concluded that food marketing to children is almost always for unhealthy products, and this plays an important role in encouraging unhealthy eating habits which are likely to continue from childhood into adulthood. Further, evidence suggests that advertisements affect food choices at both brand and category levels— that is, a McDonald’s hamburger advertisement is likely to not only make it more probable that a person will buy a McDonald’s hamburger in preference to another brand but also that person will buy a hamburger per se. In other words, they will go out, they want a hamburger, but they will then go and buy a McDonald’s. In other words, there is evidence that advertising unhealthy foods to children influences not only which brands children choose but also the overall balance of their diet, encouraging them to eat energy-dense, salty, sugary or fatty foods in place of those which are more nutritious and wholesome.
The advertising industry introduced selfregulation—the Responsible Children’s Marketing Initiative—in January 2009. However, research including the Australian Food and Grocery Council report just this year—January 2011—found that one in five food advertisements in children’s programs were for high-fat, sugar and salt products. The self-regulation is clearly not working to effectively protect children.
One aspect of the responsible marketing and consumption argument is that, unlike tobacco, junk foods can be enjoyed in moderation without causing undue harm to children and adults. The Cadbury company maintains, for example, that its products can be enjoyed as a treat. However, at the same time as the Cancer Council of New South Wales points out, Cadbury has spent millions of dollars creating a new internet cartoon series featuring Freddo Frog. The marketing features puzzles, games and activities embedded within the cartoon and from which children can be involved in the cartoon’s development. The company claims this represents responsible marketing and does not have children featured. That is simply not responsible mar-keting and we believe we need to take action. (Time expired)


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Nordfab Ducting Expands Manufacturing Production in United Kingdom; U.S. and Swedish Sales Forces Join British Colleagues to Conduct Sales Blitz
Thomasville, N.C. - Nordfab Ducting has expanded it manufacturing and production capacity at its facility in Leeds, England, that will allow the company to provide faster delivery on a wider range of products to customers in the United Kingdom. To promote the expanded capacity and introduce Nordfab products to prospective customers, the company teamed members of its U.S. and Swedish sales force together with its British salesmen in a week-long blitz to call on nearly 250 sales prospects.
"Economic conditions are slowing sales and growth at many businesses around the world, but Nordfab Ducting is continuing to grow and expand," explains Tom Ballus, Nordfab division manager. "Our U.K. facility recently invested in a new plasma welder, a bend machine and tooling jigs, advancements that allow us to offer our British customers high-quality, clamp-together ducting in the sizes most commonly requested - and at competitive prices. And with the help of our U.S. and Swedish sales forces, we were able to promote these improvements to customers throughout the United Kingdom with a highly successful promotional campaign."
Nordfab held an international sales blitz May 11-15 in the United Kingdom, pairing eight salesmen from the United States with 10 sales representatives from the United Kingdom and Sweden. Although the original goal was to visit 100 customers in England, Wales and Scotland during the week-long event, nearly 250 visits were ultimately made.
"By having the salesmen from our U.S. and Swedish facilities participate in the sales blitz and supplement our U.K. sales force, we were able to visit the same number of customers in one week that we could normally see in six months or a year," says Darren Wood, finance manager for Nordfab Ducting's U.K. operations. "From those 250 visits, we have already received several orders and several additional requests to quote for new business. It's a massive step in the right direction, and we're excited about what the future holds for Nordfab Ducting in the United Kingdom."
For more information, visit www.nordfab.com or call 1-800-532-0830.


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McDonald’s Continue to Rise With $205 Million Investment and Impressive Q3 Report
When it comes to the world of fast food, there is one particular place that is known not just in the United States but all over the world. In 1940, two brothers introduced the fast way to be able to make hamburgers for people which is now a place known as McDonald’s.
For almost 80 years now, the company has been referred to as the largest fast food chain in the world. Based on recent statistics, they serve about 70 million customers on a daily basis in more than a hundred countries. This year, the company continued to soar with the recent multi-million dollar foreign investment as well as an impressive third quarter report.
South Africa Investment and Q3 Report
It was reported a couple of days ago that at the South African Investment Conference, McDonald’s Corporation officially announced that they will be investing $205 million in the area. This is a massive investment that will be good for the next five years. This announcement was made at the conference last week at Johannesburg. It was revealed that there is a plan to open about 120 more restaurants all over the country in the next five years.
This is definitely going to make a massive impact towards the construction and manufacturing sectors, giving the people more jobs. According to McDonald’s South Africa’s chief executive officer, these expansions would then allow them to create more than 7,000 jobs including those who will be employed once the restaurants are all ready to open and serve.
In order to make sure that the new employees will have enough knowledge to give a great service, McDonald’s is also planning on having a Hamburger University in South Arica to improve the skills of more than 12,000 employees as part of their training curriculum.
Other than this massive investment, biggest fast food chain in the world also just released their third quarter report which totally impressed analysts. For the 13th consecutive month, McDonald’s Corporation topped Wall Street analysts’ expectations when it comes to profit and revenue for this quarter. They have managed to get $5.37 million in revenue and earned $1.64 billion with $2.10 per share. According to some experts, McDonald’s is turning to franchises which is what is making them have better results on statistics every quarter.
This then lead to their sales growth to continue on growing on both the US as well as in the International sector. This is all despite the 3 percent difference from the numbers last year. Wall Street experts only expected the, to have $1.99 in shares as well as only $5.32 billion in revenue.
An Improved Approach
McDonald’s CEO Steve Easterbrook said that despite the company’s continuous growth in the last few quarters, they are still looking for ways to be better. He said that they are still confident that the strategies that they have planned will drive them to a better and a long-term growth.
One of those plans is to try and improve their menu every once in a while, such as adding new coffee drinks, bringing back products their customers request for and most of all, partnering up with Uber Eats to be able to add convenience to their beloved customers.
Another plan that they have already started to do is by renovating thousands of their restaurants all over the country. Easterbrook said they are going to spend about $1.8 billion just for this year on the remodeling process.
By the end of 2019, the goal is said to be having 12,000 newly renovated restaurants. The McDonald’s CEO also revealed that this would be the biggest construction project their company will ever do in history. Despite having to carry the burden on giving financial assistance on some of their franchises, Easterbrook believes that they are still one big company that must work as a family, and family helps one another at all times.
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Apple CEO Tim Cook dinner
Spencer Platt | Getty Photos
Apple eliminated Parler, an app neatly-liked by Trump supporters, from its iPhone App Store on Saturday.
Apple stated that posts on the legitimate-Trump social community connected to the U.S. Capitol stand up final week integrated requires violence, which violates Apple’s rules against objectionable whisper material.
“Now we own continually supported diverse facets of behold being represented on the App Store, nonetheless there is no such thing as a put on our platform for threats of violence and criminal activity,” an Apple representative stated in a press free up. “Parler has now not taken ample measures to condominium the proliferation of these threats to folks’s safety. Now we own suspended Parler from the App Store till they unravel these points.”
Google eliminated Parler from its Android app store, Google Play, on Friday.
The casting off of the app is out there within the wake of the violence at the U.S. Capitol by Trump supporters on Wednesday that left five tiresome. The violence has renewed requires social media and technology corporations to extra closely moderate their platforms, critically relating to calls to incite violence.
Twitter completely banned President Donald Trump’s personal memoir on Friday attributable to it felt that Trump’s most up-to-date tweets own been inciting violence, while Fb refrained from Trump from posting thru the inauguration later this month.
Parler used to be launched in 2018, and it emerged earlier this year as a legitimate-Trump replacement to Twitter with less whisper material moderation. “We’re a neighborhood town sq., an initiate town sq., with no censorship,” Parler CEO John Matze stated in June. “For these who can negate it on the road of Original York, you should perchance perchance per chance negate it on Parler.”
Parler remains accessible although a web browser, which Apple has beforehand pointed to as a technique to achieve iPhone users without requiring Apple’s approval.
Apple has now not confronted the an analogous whisper material moderation challenges as corporations worship Fb, YouTube, and Twitter. It doesn’t feature many platforms where users put up or replace opinions.
Nevertheless Apple does exercise preserve watch over over its App Store, which is the best most likely skill to install apps on an iPhone. Apple removes apps on a accepted basis for violating its lengthy pointers, and has beforehand banned apps neatly-liked by perfect-waft users, along with the Infowars app in 2018, and sooner than that, Qdrops, an app connected to the Qanon conspiracy belief.
In a message sent to Parler on Saturday, Apple stated that the social media app used to be failing to moderate and expend whisper material that encourages criminal activity, citing two Apple pointers, one prohibiting objectionable whisper material and one which requires apps with person-generated whisper material to filter potentially depraved posts.
“Parler has now not upheld its commitment to moderate and expend depraved or unhealthy whisper material encouraging violence and criminal activity, and is now not in compliance with the App Store Review Pointers,” based mostly totally on Apple’s message.
A outdated message from Apple sent on Friday, reported by Buzzfeed, and posted in section by the Parler CEO on his memoir, cited a tweet from activist workers Sleeping Giants with screenshots of the Parler app, along with one where an particular person referred to as on his followers to encourage the inauguration “carrying our weapons.” Apple gave Parler 24 hours to add whisper material moderation to its app or Apple would expend it.
Parler didn’t at once return a quiz for comment on Friday. “Any individual who buys an Apple phone is seemingly an particular person. Curiously they know what’s easiest for you by telling you which of them apps you should perchance well and need to restful now not use,” Matze, its CEO, stated in a put up on Parler.


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[Editor’s note: For this week’s essay we’ve pulled out another relic from the archive of Slim Goodbuzz, who served as Duluth’s connoisseur of drinking establishments from 1999 to 2009. In this article we travel back ten years to the time of the Economic Stimulus Act of 2008 — before Duluth’s Mexico Lindo restaurant existed — when the ol’ “sultan of sot” paid a visit to Baha Billy’s at the Fitger’s Brewery Complex. The article was originally published in the June 30, 2008 issue of the Transistor.]
Have all you motherfucking patriotic cheesedicks got your economic stimulus checks from the IRS yet? That’s valuable drinking money, you know. While a few misguided Duluthians might use that free cashola to pay down their massive credit-card debt or save up to fix their sewer lines, the rest of us know what it’s really for: top-shelf liquor.
And so I walk into the Fitger’s Brewery Complex with three crispy hundos in my pocket, which is pretty much the only way you can walk into a shopping mall on Grandma’s Marathon weekend. My destination is Baja Billy’s Cantina & Grill, the tourist trappiest of the four drinking establishments in the building. Sure, my money would go a lot further at, for example, the Rustic in West Duluth, but I’m not dealing with real money today. I’m going to sit outside on Duluth’s best deck, look out at the full moon over Lake Superior, and slowly get hammered, all on the U.S. taxpayer’s dime.


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Elon Musk, Tesla's CEO, said this week that the company's humanoid robot will one day be the most valuable aspect of the company's business. The significance of the robot, dubbed Optimus, will become clear in the coming years, Musk said during Tesla's first-quarter earnings call.
The Technoking added, “I was surprised that people do not realize the magnitude of the Optimus robot program. Those who are insightful or who listen carefully will understand that Optimus ultimately will be worth more than the car business and worth more than full self-driving. That’s my firm belief.”
The first models of the bipedal robot are expected to come next year, according to Musk, though experts are doubtful about that timeline. Musk is well-known for his excessively optimistic forecasts. He is years behind schedule on a 2016 pledge that Tesla will provide self-driving cars by 2017, and he recently stated that Tesla is "not actively working" on a $25,000 self-driving vehicle that he promised would be available by 2023.
Here's all we know about Optimus so far.
It's designed to do a lot of the same things over and over again. Tesla's AI Day, a series of tech presentations hosted by the firm to lure machine learning talent, was where Musk initially introduced the robot last summer. Musk made the revelation by bringing onstage an actor clad in a robot-like bodysuit and having him dance for the audience.
Musk stated that the goal was to develop a machine that would reduce labour costs. He also said the goal was to develop a machine that would reduce labour costs. Musk's has the idea that it's designed to be nice and navigate around a world of humans, and to eliminate risky, repetitive, and boring chores.
Musk described a future in which the robot could also do errands for its human owners such as go to the store and get groceries. This may conjure up images of rogue robots taking over the world. But Musk said it won’t pose a threat to humans
Musk, who has previously cautioned about the perils of AI, also stated that the robot is being built such that humans will be able to outpace or overpower it if something goes wrong. While Optimus develops, the main aim to ensure it is safe. "No Terminator stuff or that kind of thing.”
According to Tesla, the robot would stand five feet eight inches tall and weigh 125 pounds. It can carry up to 45 pounds, lift up to 150 pounds, and go at a top speed of 5 miles per hour. It will have a "screen for useful information" on its face.
Optimus is Tesla's'most significant product,' according to Musk. Optimus was given a greater priority by Musk earlier this year than other hotly anticipated Tesla goods, such as the Cybertruck pickup truck and the Tesla Semi.
However, it remains to be seen whether Tesla will be able to keep Musk's claims. An AI researcher, Gary Marcus, explained earlier this month that he doubted Optimus could live up to the expectations by 2023.
Tesla has not even gotten close to reliably performing one relatively self-driving technology after years of effort; Musk believes it is ridiculous to imply that a robot that has never been publicly demonstrated can do all human tasks in the next year or two.


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Total measured advertising expenditures during the first six months of 2008 declined by 1.6% compared to the same period in 2007, according to TNS Media Intelligence data.
But a more ominous sign of possible things to come was second-quarter ad spending, which was down by 3.7% compared to last year, the largest quarterly decline since 2001.
“Advertising expenditures started to contract in March, well before the September turbulence on Wall Street renewed concerns about the health of the economy and possible collateral damage to the ad market,” said Jon Swallen, svp-research at TNS, New York. “Second-half results, particularly for television, will be bolstered by the Summer Olympics and political elections.
However, sustained improvement will most likely depend on a turnaround in consumer spending that rejuvenates corporate profits and encourages marketers to expand their advertising efforts.”
The largest growth categories in ad spending compared to first-half 2007 were national syndicated TV, which increased 10.2%; the Internet, up 8%; Sunday magazines, ahead 4.8 percent; cable television, up 3.1%; and outdoor advertising, up 1.8%.
Every other medium was down in ad spending, TNS data showed.
Ad spending on network TV was down 2.4%, spot TV ad spending was down 4.4%, Spanish-language TV was down 0.1%, b-to-b magazines decreased 5.9%, local magazines slipped 2.8%, local newspapers declined 7.1%, national newspaper ad spending was off 9.6%, Spanish-language newspapers were down 11%, local radio was off 7.5%, national spot radio decreased 7.4% and network radio was down 3.6%.
Looking at specific companies, General Motors’ ad spending in the first half of 2008 was up 12.9% to $1.03 billion, and Rupert Murdoch’s News Corp. spent 10.9% more on advertising to $728 million. Verizon boosted ad spending in the first half of 2008 by 7.6% to $1.1 billion, and PepsiCo increased first-half ad expenditures by 5% to $586 million.
The companies showing the largest percentage of first-half ad spending declines were AT&T, down 15.6% to $940 million; Johnson & Johnson, down 11.8% to $690 million; Time Warner, down 9.2% to $717 million; Walt Disney, down 8.8% to $601 million; and Procter & Gamble, down 7.9% to $1.49 billion.
By category, automotive saw spending decline most in the first half, down 11.2% to $6.4 billion, with foreign automaker spending declining by 16.9% compared to a decline of 6.3% for domestic automakers. Telecom ad spending declined by 8.9% to $4 billion and retail declined 4.2% to $3.9 billion. Food and candy was up 7.4% to $3.1 billion, while restaurant ad spending gained 5 percent to $2.8%.
The TNS numbers jibed with Nielsen Monitor-Plus’ figures released last week. Nielsen, whose figures do not include online expenditures, said ad spending fell 1.4% in the first half, with outlays among the top 10 advertisers down almost 6%. Brandweek is a unit of the Nielsen Co.


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Admitad India announces its partnership with India Affiliate Summit & Awards 2019
Underlining its position as a domain leader in the Indian affiliate marketing industry, Admitad India has announced its association with India Affiliate Summit & Awards 2019 (#IAS19). Organized by IAMAI, the 5th edition of the premier affiliate marketing event will be held at The Leela Ambience, Gurugram, on September 26th and 27th.
Themed ‘Re: Imagine’, the latest edition of the largest annual gathering of affiliate marketers will focus on charting out an innovative and lucrative future for the country’s growing affiliate marketing industry. Admitad India is honored to be the ‘Powered By’ partner of IAS 2019.
This year’s India Affiliate Summit will witness the convergence of more than 2,700 delegates, 500 companies, and 70 exhibitors. With the overarching goal of bringing together the brightest minds of the affiliate marketing industry, the summit will spark meaningful conversations around the growth of affiliate marketing with performance-based partnerships at its core.
The summit will also provide the backdrop for India Affiliate Awards – a celebration of the most innovative and effective advertisers, agencies, publishers, networks, and technology solution providers in the industry.
At the summit, Ms. Neha Kulwal (CEO – Admitad India) will be sharing her insights on the ‘Importance of affiliate marketing in M-commerce’. Attendees will also witness several captivating keynote discussions around topics such as the changing role of brand and performance marketing in India, optimally utilizing new-age marketing channels, and visual content consumption trends. These discussions will be led by global industry doyens including Emanuel Cinca (Founder – What The Aff) and Chris Adams (CTO – eDatasource), amongst others. The summit will also feature a standalone session by Daniil Silvestrov (Country Manager – USA, Admitad) on ‘How to build strong affiliate channels based on international experience’.
As ever, the India Affiliate Summit will act as a platform for industry players to network with key decision-makers, explore new opportunities and collaborate with high-potential partners. Powered by Admitad India, #IAS19 is set to build on the success of previous editions and emerge as the grandest iteration of the country’s largest affiliate marketing event.