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Keefe Cuts Progressive To Sell On Valuation

Tue, 09/22/2020 - 10:30

Keefe Bruyette downgraded Progressive stock to Sell from Hold, citing “near-record valuation gap” versus insurance peer Allstate.Keefe Bruyette analyst Meyer Shields said that Progressive (PGR) trades at about 17.6 times the Street's 2021 estimated earnings, which is 223% higher than Allstate's price-to-earnings multiple of 7.9 times. Progressive’s earnings multiple is also 157% higher than the 10-year average relative multiple, said the analyst. Shields still maintained a price target of $87 (10.6% downside potential) on the stock.The analyst added that the current valuation gap overestimates Progressive's 2021 earnings potential as the company lowers personal auto rates. In addition, the valuation gap underestimates the strategic benefits of Allstate's increasing focus on the independent agency channel.Last week, Progressive reported a steep increase of 179% in August earnings per share of $0.83 on a year-over-year basis. The insurance company recorded net premiums written of $3.4 billion in the month, up 18%, while net premiums earned grew 11% on a year-over-year to about $3.1 billion. (See PGR stock analysis on TipRanks)Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 7 Buys, 3 Holds, and 1 Sell. The average price target of $98.18 implies that the shares are fully priced at current levels. Shares have gained 34.5% on a year-to-date basis.Related News: Progressive Sees EPS Spike 111% In July Cubic Adopts Poison Pill As Elliott Pursues Takeover Bid PagerDuty To Snap Up Rundeck For $100M; Street Is Bullish More recent articles from Smarter Analyst: * Walmart Partners With Goldman To Offer Marketplace Sellers Credit * Genocea Up 5% On FDA Nod For Cancer Therapy Application; Street Sees 353% Upside * Trian Fund Management Snaps Up Stake In Comcast; Analyst Sees 34% Upside * Intel Receives US licenses To Supply Huawei - Report

Nikola without Trevor Milton 'changes the story': Dan Ives

Tue, 09/22/2020 - 10:12

Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Dan Ives of Wedbush Securities discuss Tesla’s Battery Day, and the fraud allegations against Nikola Founder Trevor Milton.

5 Value Stocks In The Technology Sector

Tue, 09/22/2020 - 09:49

Barstool App Breaks DraftKings Download Record, Analyst Says

Tue, 09/22/2020 - 09:46

(Bloomberg) -- Penn National Gaming Inc. shares rose as much as 4.5% in early trading Tuesday after Morgan Stanley said Penn’s minority owned Barstool Sportsbook betting app achieved a record 21,000 downloads per day in its first weekend, breaking DraftKings Inc.’s and Flutter Entertainment Plc’s FanDuel’s daily records.Preliminary data from market intelligence firm Sensor Tower show Barstool sportsbook app, which soft launched in Pennsylvania on Sept. 15, had 63,000 downloads in its first weekend, analyst Thomas Allen wrote in a note.That compares to DraftKing’s sportsbook downloads of just 4,000 during its opening weekend in New Jersey in Aug. 2018 and its single-day record download of 15,000 on Sept. 10, this year’s NFL season opener. Barstool’s weekend and single-day performance also topped FanDuel’s inaugural weekend launch downloads of 9,000 over the 2018 NFL opening weekend and its single-day download record of 19,000 on Sunday, Sept. 13, Allen noted.Barstool’s app downloads have started out “extremely strong,” yet competitor downloads didn’t seem to “slow meaningfully,” the analyst said. Based on the weekend’s download data, Allen believes Barstool is “expanding the market rather than cannibalizing” it, which is a bullish sign for the sector, he said.Allen downgraded both Penn National and DraftKings last month to equal-weight from overweight, citing valuation after both stocks had skyrocketed this year. In April, DraftKings began trading as a public company after a reverse merger with Diamond Eagle Acquisition Corp., a special purpose acquisition company. As of Monday’s close, the stock has risen 194% since then compared to the gain of 416% for Penn National during the same time period.Barstool Sports’ founder Dave Portnoy and the company’s other personalities like Big Cat and PFT Commenter helped provide visibility to their millions of followers by betting and posting videos to social media over the weekend. Their live-streamed videos racked up hundreds of thousands of views on Twitter as they pumped their bets on football games during the National Football League’s packed Sunday slate.(Adds stock move in first paragraph and additional details in final two paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Goldman Sachs: These 3 Stocks Are Poised to Surge by at Least 50%

Tue, 09/22/2020 - 09:43

Is it time for the bears to break out the champagne glasses? Not so fast, says Goldman Sachs. Volatility has ruled the Street for the last few weeks, leading some to conclude that those with a more pessimistic outlook had been vindicated, but the firm believes stocks can still climb higher.According to Goldman Sachs’ head of U.S. equity strategy, David Kostin, the S&P 500 could still hit 3,600 by the end of the year, and 3,800 by mid-2021, on the back of vaccine-related optimism and progress with the economic reopening. This would reflect gains of 10% and 16%, respectively, should the index ultimately reach these targets.“Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months. The Superforecaster probability of a mass-distributed vaccine by Q1 2021 has surged to nearly 70% and economic data show a continuing recovery,” Kostin wrote in a recent note. On top of this, the strategist argues the vaccine’s arrival will push U.S. GDP growth to 6%, compared to the 3.9% consensus estimate.Given Kostin’s outlook, we wanted to check out three stocks scoring major praise from Goldman Sachs. Not only have they been given a Buy rating, but the firm’s analysts also see at least 50% upside potential on tap for each. Using TipRanks’ database, we found out that all three tickers have gotten a thumbs up from analysts at other firms as well. Let's take a closer look.Intellia Therapeutics (NTLA)Focused on utilizing gene editing to develop cell therapies, Intellia Therapeutics wants to stomp out cancer and other immunological diseases for good. Based on its innovative technology, Goldman Sachs recommends that investors pull the trigger.Representing the firm, 5-star analyst Salveen Richter believes that what makes NTLA a stand-out is its “use of an adaptive gene editing system based on a proprietary lipid nanoparticle (LNP) delivery method of CRISPR/Cas9 to leverage multiple gene editing strategies.” These include the generation of knock-outs (KO) for toxic genes, restoring functional genes by inserting new DNA sequences and the use of consecutive editing combining KO and insertion approaches.“We are positive on NTLA’s in vivo gene editing approach as it offers a modular system with CRISPR/Cas9 gene editing for functionally curative outcomes. While we note the initial focus is on delivery to the liver, extrahepatic tissue targeting (i.e. CNS) could expand the breadth of NTLA’s platform. NTLA is also leveraging its CRISPR/Cas9 editing tools ex vivo to create next-generation engineered cells that can treat oncological and immunological diseases,” Richter explained.To this end, the analyst sees several potential catalysts on tap for the next year. Proof-of-concept data for lead program NTLA-2001, its therapy targeting transthyretin amyloidosis (ATTR), a slowly progressive condition characterized by the buildup of abnormal deposits of a protein called amyloid (amyloidosis) in the body's organs and tissues, could come by mid-2021. This data stands to “inform the drug’s clinical profile (safety/tolerability and early signs of sustained TTR knockdown),” which would de-risk NTLA’s in vivo editing platform, in Richter’s opinion.On top of this, IND-enabling studies for NTLA-2002, its therapy designed for hereditary angioedema (HAE), and NTLA-5001, its therapy for WT1+ acute myeloid leukemia (AML), are set to kick off in 2021. Richter estimates that peak sales for both candidates could reach $895 million and $806 million, respectively, with data from both also validating “the breadth of editing approaches (knockouts and/or insertions).”If that wasn’t enough, Richter cites the ongoing NVS-led Phase 1/2 OTQ923 sickle cell disease (SCD) trial as a possible upside driver. “While we note the limited economics to NTLA from this program and competitor dynamics with bluebird bio’s (BLUE) LentiGlobin and CRISPR Therapeutics’ (CRSP) CTX001 that are ahead in clinical development, the study should serve as proof-of-concept for the platform. First data could be presented in 2021,” the analyst commented.All of this prompted Richer to initiate coverage with a Buy rating and $33 price target. This target conveys her confidence in NTLA’s ability to climb 50% higher in the next year. (To watch Richter’s track record, click here)Looking at the consensus breakdown, 3 Buys and 2 Holds have been published in the last three months. Therefore, NTLA gets a Moderate Buy consensus rating. Based on the $37.13 average price target, shares could rise 67% in the next year. (See NTLA stock analysis on TipRanks)Vir Biotechnology (VIR)Moving on to another healthcare company, Vir Biotechnology is developing a broad portfolio of product candidates that are designed to combat serious, global infectious diseases in new ways. With it standing at the front of the pack in the COVID-19 monoclonal antibody (mAb) race, it’s no wonder Goldman Sachs likes what it’s seeing.Firm analyst Paul Choi cites a recent data readout from one of VIR’s competitors as reaffirming his confidence. On September 16, Eli Lilly reported interim data from the Phase 2 BLAZE-1 trial evaluating its mAb therapies, LY-CoV555 and LY-CoV016, in mild or moderate COVID-19 patients. The data revealed that treatment with LY-CoV555 led to a roughly 72% reduction in the need for hospitalization, with no safety signals observed.Choi also points out that the results were more “pronounced” in high risk patients (age or BMI) as most study hospitalizations across both groups occurred in patients with these underlying risk factors.While resistant viral variants did appear in 8% of LY-CoV555-treated patients and 6% of patients on placebo, management has stated that competing single or multiple mAb “cocktail” approaches might not be optimized, with viral escape mutants potentially emerging. VIR argues its approach is differentiated given the high barrier to resistance, potent effector function, potential for increased lung tissue concentration and extended half-life.Even though VIR is behind its peers in terms of development timelines, Choi thinks that the company is making substantial progress. VIR recently initiated the Phase 2/3 COMET-ICE study of VIR-7831, its mAb for COVID-19, as a monotherapy (versus a combination approach) in patients with mild or moderate COVID-19. Initial data is set to be released by the end of 2020, with top-line data expected in January. Weighing in on the above, Choi commented, “In the absence of preclinical binding affinity data from LY-CoV555, it is premature to hypothesize on the potential for VIR-7831 to demonstrate improved efficacy vs. the competing antibodies; however, we see the LLY data as establishing proof-of-concept for antibodies in COVID-19 while also setting an attainable bar for future antibody monotherapy/cocktail treatments. Moreover, we view the addressable market for COVID-19 antibodies as significant enough to support several approved therapies in the indication in the near-term.”In line with his optimistic approach, Choi reiterated his Buy rating and $54 price target. Should the 5-star analyst’s thesis play out, a twelve-month gain of 69% could potentially be in the cards. (To watch Choi’s track record, click here)Is the rest of the Street in agreement? The majority of other analysts are. 4 Buys, 1 Hold and 1 Sell have been issued in the last three months, so the word on the Street is that VIR is a Moderate Buy. With the average price target clocking in at $51.67, shares could jump 61% in the next year. (See VIR stock analysis on TipRanks)Peloton Interactive (PTON)Switching gears now, we move on to Peloton Interactive. The company, which offers exercise bikes and remote workout classes, rose to fame at the start of the COVID-19 pandemic. After its fiscal Q4 earnings results blew estimates out of the water, Goldman Sachs believes this stock has more room to run.In the most recent quarter, PTON posted revenue of $607.1 million, beating the $586.2 million consensus estimate and reflecting a 172% year-over-year increase. This is up from growth of 65.6% in the previous quarter. Adjusted EBITDA came in at $143.6 million, ahead of the Street’s $73.5 million call. Management pointed to heightened demand during the COVID-19 crisis and significantly lower marketing spend as the drivers of this strong showing.Goldman Sachs’ Heath Terry tells clients he was especially excited about the Connected Fitness segment’s performance. Connected Fitness product revenue landed at $486 million, up 199% year-over-year, while customer deposits and deferred revenue grew 300% year-over-year. The five-star analyst also highlights the fact that subscriber net adds were 205,000, versus 174,100 net adds in fiscal Q3 2020 and guidance of 154-164,000.As for PTON’s forward-looking guidance, Terry was also impressed. “While the company guided fiscal Q1 2021 and FY21 revenue and adjusted EBITDA well above consensus, given the backlog of demand exiting the June quarter and the 6-8 weeks of deliveries already on order by consumers, we expect this guidance will again prove overly conservative,” he explained.This performance prompted Terry to state, “We continue to believe that Peloton represents a significant long-term opportunity as the company is in the earliest stages of creating new and expanding existing categories of connected fitness products, an opportunity that we believe has been permanently accelerated by the current COVID-19 crisis.”It should be noted that the company faces significant risks going forward. These include new entrants, evolving consumer tastes as well as execution challenges. That being said, Terry’s bullish thesis remains very much intact.Expounding on this, the analyst said, “... we believe that the window of opportunity for any meaningful competitor is rapidly closing, something that, along with the large and expanding addressable market for Peloton’s high ARPU, high margin, extremely low churn subscription business, remains underappreciated by the market, even with the stock’s recent outperformance.”It should come as no surprise, then, that Terry stayed with the bulls. To this end, he kept a Buy rating and $138 price target on the stock. Investors could be pocketing a gain of 53%, should this target be met in the twelve months ahead. (To watch Terry’s track record, click here)In general, other analysts are on the same page. PTON’s Strong Buy consensus rating breaks down into 20 Buys, 2 Holds and 1 Sell. The $112.05 average price target brings the upside potential to 23%. (See PTON stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Here's How Much Investing $1,000 In Oracle Stock In 2010 Would Be Worth Today

Tue, 09/22/2020 - 08:40

Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Oracle's Difficult Decade: One poor performer of the last decade was cloud service stock Oracle Corporation (NYSE: ORCL).Oracle spent much of the past decade transitioning away from its legacy businesses of on-premise database services, hardware and business software to a new cloud services-centric model.In 2016, Oracle paid $9.3 billion for cloud pioneer NetSuite. Unfortunately, Oracle's major investments in cloud services aren't generating the type of growth investors had hoped. Revenue was flat on a constant-currency basis in fiscal 2020. Cloud license revenue and on-premise license revenues have been particularly weak in recent quarters.TikTok Drama: The good news for Oracle investors is that the company has made two potentially game-changing deals during the COVID-19 pandemic. First, Oracle landed Zoom Video Communications Inc (NASDAQ: ZM) as a cloud customer earlier this year. Second, Oracle emerged as a winner from a messy bidding war among American companies to partner with popular social media app TikTok.When Chinese TikTok parent company ByteDance rejected a buyout offer from Microsoft Corporation (NASDAQ: MSFT) and Walmart Inc (NYSE: WMT), Oracle swooped in to secure a deal to become TikTok's "technology partner." As part of the deal, Oracle will not have access to TikTok's prized algorithm, but it will reportedly take a 12.5% ownership stake in TikTok.Oracle started the 2010s trading at around $25. By mid-2010, the stock had dipped to $21.24, its low point of the decade. By late-2015, Oracle hit $45.71, but it wouldn't reach the $50 level for the first time for nearly two years. Oracle spent much of 2017 and 2018 trading between $42.50 and $52.50 before breaking out to the upside in early 2019.Oracle hit its high point of the 2010s in mid-2019 when the stock peaked at $60.502020 And Beyond: The COVID-19 sell-off sent Oracle shares tumbling as low as $39.71 in March 2020, but its deals with Zoom and TikTok had the stock back making new all-time highs of $62.60 just this week.Oracle shares have been a profitable investment over the past decade, but the return isn't particularly outstanding. In fact, $1,000 worth of Oracle stock in 2010 would be worth about $2,528 today, assuming reinvested dividends.Looking ahead, analysts are optimistic Oracle will hold onto its 2020 gains. The average price target among the 23 analysts covering the stock is $63, suggesting about 4.2% upside from current levels.Related Links:Here's How Much Investing ,000 In AMD At Dot-Com Bubble Peak Would Be Worth Today Here's How Much Investing ,000 In Nvidia At Dot-Com Bubble Peak Would Be Worth TodayPhoto credit: Raysonho, via WikimediaCommonsSee more from Benzinga * Why Trump's TikTok Ban Could Be 'Fort Sumter Moment' In Cold Tech War Between US, China * 'Partnership Better Than Acquisition': Analysts React To Oracle-TikTok Deal * How TikTok's Value Per User Compares To Facebook And Other Social Media Platforms(C) 2020 Benzinga does not provide investment advice. All rights reserved.

The United States Air Force Chooses BlackBerry Spark for Secure Productivity

Tue, 09/22/2020 - 08:00

WATERLOO, ON, Sept. 22, 2020 /CNW/ -- BlackBerry Limited (NYSE: BB; TSX: BB) announced today that the United States Air Force has selected BlackBerry Spark® for their secure productivity needs.

Taseko Mines: Florence Copper Permitting Update

Tue, 09/22/2020 - 08:00

VANCOUVER, BC, Sept. 22, 2020 /CNW/ - Taseko Mines Limited (TSX: TKO) (NYSE American: TGB) (LSE: TKO) ("Taseko" or the "Company") is pleased to announce that its Florence Copper Project received overwhelming support at the public hearing held by the Arizona Department of Environmental Quality ("ADEQ").

Does BioCryst Pharmaceuticals (NASDAQ:BCRX) Have A Healthy Balance Sheet?

Tue, 09/22/2020 - 07:25

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Tens of thousands to lose jobs without airline stimulus from Congress

Tue, 09/22/2020 - 06:57

Time is running out for Congress to pass a new economic stimulus plan that will help airlines avoid massive layoffs as the coronavirus pandemic continues to cripple the industry.

ImagineAR is Presenting at Wall Street Reporter's "NEXT SUPER STOCK" & Livestream Conference on September 24th, 2020

Tue, 09/22/2020 - 06:30

VANCOUVER, BC AND ERIE, PA, Sept. 22, 2020 /CNW/ - Imagine AR Inc.

Coca-Cola's First Alcoholic Drink Since The 80s To Debut Early Next Year: CEO

Tue, 09/22/2020 - 04:40

During a discussion with Mad Money show host Jim Cramer, Chief Executive Officer of Coca-Cola Co (NYSE: KO) James Quincey cleared the air about its new product. Quincey clarified that the company's Hard Seltzer drink is estimated to be released sometime in the first half of 2021.The company has been entirely engaged in non-alcoholic beverage concentrates and syrups in the last four decades and this would be its first attempt to create a product line of Hard Seltzers in the United States since the early 80s.What Happened: Coca-Cola plans to launch its alcoholic beverage under its Topo Chico brand. According to CNBC, the initial launch will be made in Mexico, followed by the U.S. launch.The Brazil launch is expected sometime later this month. In 2018, Coca-Cola also launched Lemon-Do - and alcoholic drink in Japan.In 2017, Coco-Cola acquired the Mexican company Topo Chico for $220 million.Why Does It Matter: CNBC cited research by Bump Williams Consulting Co., which estimated a Hard Seltzer sales figure of $3 billion in the U.S for the 12 months ended in mid-July.Constellation Brands Inc (NYSE: STZ), which produces Corona beer, also ventured in the fast-growing Hard Seltzer market this year. At the time, Corona Hard Seltzer gained a 6% IRI market share in the U.S. and was ranked as the fourth major player.Price Movement: After a 2.68% drop during trading hours, Coca-Cola marginally rose 0.26% to end the extended trading hours at $49.22.Related Links: Pepsi Launches A Sleep Beverage: What You Need To Know About DriftwellSee more from Benzinga * WM Motor Raises .5B Amid China's Electric Vehicle Frenzy * Chewy's Ryan Cohen Sees GameStop Rivaling Amazon Long-Term * Trian Fund, Best Known For Investor Activism In GE, P&G, Takes 0M Stake In Comcast(C) 2020 Benzinga does not provide investment advice. All rights reserved.

Trump says aides rejected his request to adjust value of dollar

Mon, 09/21/2020 - 19:57

U.S. President Donald Trump on Monday said he was rebuffed when he asked officials to adjust the exchange rate of the dollar to counteract what he described as repeated currency manipulation by China of its yuan. Trump told thousands of supporters at a political rally in Dayton, Ohio, that his policies were saving jobs in the political battleground state after years of inaction to confront China's aggressive behavior in global markets. The Republican president, who is seeking reelection to a second term in the Nov. 3 national poll, repeated his claim - which China denies - that Beijing deliberately changes the value of its currency to gain competitive advantage in global markets.

Longtime ally to Trump's postal chief was paid by RNC

Mon, 09/21/2020 - 19:21

A former executive who worked in the private sector for Postmaster General Louis DeJoy was recently paid by President Donald Trump's reelection effort, according to a new campaign finance disclosure. Joe Hauck, who was formerly vice president of sales and marketing for DeJoy's New Breed Logistics, was paid $3,000 by the Republican National Committee in August for “management consulting,” records filed on Sunday with the Federal Election Commission show.

Stock market news live updates: Stock futures slip after volatile session

Mon, 09/21/2020 - 18:25

Stock futures were mixed Monday evening on the heels of another sharply negative day for US equities. The S&P 500 closed out the regular session lower for a fourth straight day, marking its longest losing streak since February.

Oppenheimer's Colin Rusch on what he's expecting from Tesla's Battery Day

Mon, 09/21/2020 - 18:22

Colin Rusch, Oppenheimer Sr. Research Analyst, joined The Final Round to discuss what he is expecting out of Tesla's highly anticipated battery day and his outlook for the stock.

Biocept’s PCR Testing Remains a Key Piece of the COVID-19 Puzzle; Analyst Says ‘Buy’

Mon, 09/21/2020 - 18:21

As the final quarter of 2020 approaches, so does the 2020/2021 flu season. As a result, the demand for COVID-19 testing is only expected to intensify, with those providing solutions set to be rewarded handsomely, according to Wall Street pros.Biocept (BIOC) is among those fighting the good fight against the deadly virus, offering polymerase chain reaction (PCR) tests. These tests are used to directly detect the presence of an antigen, rather than the presence of the body's immune response, or antibodies.On September 16, BIOC announced that it has received more than 35,000 COVID-19 specimens to-date, reflecting a roughly 14,000 increase since the last update on August 31.Weighing in on the development for Maxim is 5-star analyst Jason McCarthy. The analyst argues that given the reimbursement of $100 per test, “Biocept's revenue growth in Q3 2020 should continue and that's assuming the core oncology testing services business is still lagging from COVID impacts.”Expounding on the opportunity, the analyst said, “The company also is positioned to continue to capitalize on the current COVID-19 testing paradigm, with 83,000 specimen collection kits assembled to date, and inventory for an additional 87,000. The inventory on hand is particularly important as we head into the 2020/2021 cold/flu season, where we anticipate testing could play a significant role in managing emerging COVID hotspots and existing hotspots with active infections.”It should be noted that shares have pulled back since early August, but McCarthy points out that its peers in the PCR and testing space have also experienced pullbacks. “This, in our view was in part due to profit taking given valuations this summer, but also from Abbot's rapid antigen test receiving an EUA on 8/27. While antigen tests can expand testing with 'rapid' results in minutes, they do come at a cost in sensitivity and specificity which is why FDA for rapid influenza tests sets the bar at only 80%,” he explained.As PCR tests boast nearly 100% accuracy, McCarthy believes COVID-19 testing is “here to stay.” He added, “With schools now open (depending on where you are) and businesses trying to open, testing remains a key component... Interestingly, as of early September, we are starting to see valuations in the space rebound and expect that this trend should continue, particularly for Biocept.”Additionally, McCarthy cites another key growth driver, namely oncology testing. “Oncology testing slowed in 1H20 as patients stopped going to doctors during the pandemic. They still have cancer and still need to get their testing done, which should start to pick up revenue for Biocept once again as the company heads towards end of year,” he mentioned.In line with his optimistic approach, McCarthy sides with the bulls, maintaining a Buy rating. At $20, his price target brings the upside potential to 345%. (To watch McCarthy’s track record, click here)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

Pilots' unions urge U.S. regulator to improve cockpit procedures for Boeing 737 MAX

Mon, 09/21/2020 - 17:58

The U.S. aviation regulator should require new cockpit procedures for Boeing Co's 737 MAX to help pilots disable an erroneous stall alert that could be a serious distraction during mid-flight emergencies, major pilots unions said on Monday. The proposal about an erroneous "stick shaker" alert is among recommendations the Air Line Pilots Association (ALPA) and the Allied Pilots Association submitted during a 45-day public comment period for proposed 737 MAX design and operating changes laid out last month by the U.S. Federal Aviation Administration (FAA). The 737 MAX changes could pave the way for the FAA to lift a ban on the jet, potentially before year-end.

Tesla's Musk sees no immediate boost from 'Battery Day' tech unveil

Mon, 09/21/2020 - 17:40

Analysts were expecting Musk to unveil at the event plans for Tesla to produce its own battery cell as it seeks to cement its lead over General Motors , Volkswagen and others. Tesla expects significant shortages in 2022 and beyond, Musk cautioned, adding it intended to increase cell purchases from Panasonic <6752.T>, South Korea's LG Chem <051910.KS>, China's CATL <300750.SZ>, and possibly other partners.

Musk sees no immediate boost from &#39;Battery Day&#39; tech unveil

Mon, 09/21/2020 - 17:31

(Reuters) - Tesla Inc Chief Executive Officer Elon Musk said on Monday improvements unveiled at the electric-car maker's "Battery Day" event would not reach serious high-volume production until 2022.

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