Rocket Lab passes key milestone in SpaceX-like quest to recover and reuse rockets

A long exposure photo shows Rocket Lab’s Electron rocket lifting off on the company’s 10th mission. By navigating the booster through reentry, Rocket Lab is one step closer to becoming one of the few in the world able to recover a rocket booster. Additionally, if successful, Rocket Lab would join SpaceX as the only private company to return an orbital-class rocket booster. Rocket Lab, instead, is testing a technology Beck calls an “aero thermal decelerator” — essentially using the atmosphere to


A long exposure photo shows Rocket Lab’s Electron rocket lifting off on the company’s 10th mission.
By navigating the booster through reentry, Rocket Lab is one step closer to becoming one of the few in the world able to recover a rocket booster.
Additionally, if successful, Rocket Lab would join SpaceX as the only private company to return an orbital-class rocket booster.
Rocket Lab, instead, is testing a technology Beck calls an “aero thermal decelerator” — essentially using the atmosphere to
Rocket Lab passes key milestone in SpaceX-like quest to recover and reuse rockets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: michael sheetz
Keywords: news, cnbc, companies, boosters, mission, lab, electron, rockets, company, milestone, rocket, booster, labs, recover, quest, spacexlike, reuse, key, stage, reentry, passes


Rocket Lab passes key milestone in SpaceX-like quest to recover and reuse rockets

A long exposure photo shows Rocket Lab’s Electron rocket lifting off on the company’s 10th mission. Sam Toms | Rocket Lab

Rocket Lab launched seven spacecraft early Friday as the builder of small rockets completed another mission, but one launch came with a significant achievement. After launching from New Zealand, it successfully returned the Electron rocket’s booster — the lower portion and most expensive part of the rocket — through Earth’s atmosphere. By navigating the booster through reentry, Rocket Lab is one step closer to becoming one of the few in the world able to recover a rocket booster. It’s a critical development in Rocket Lab’s plan to catch the booster with a helicopter in midair and reuse it for future missions. Additionally, if successful, Rocket Lab would join SpaceX as the only private company to return an orbital-class rocket booster. “Our first guided stage re-entry was a complete success,” Rocket Lab CEO Peter Beck said in a statement. “The stage made it through the harsh re-entry environment intact, which is an outstanding result for a first test of our recovery systems.”

The curve of the Earth seen from a camera on Rocket Lab’s booster as it returns from space. Rocket Lab

Beck’s company, much like Elon Musk’s SpaceX, wants to recover the boosters so it can launch more often while simultaneously decreasing the material cost of each mission. But Rocket Lab’s approach to recovering its boosters is notably different than SpaceX’s, which uses the boosters’ engines to slow it down during reentry and add wide legs to land on large concrete pads. Rocket Lab, instead, is testing a technology Beck calls an “aero thermal decelerator” — essentially using the atmosphere to slow down the rocket. After separating from the upper stage of the Electron rocket, which carried the spacecraft into orbit, Rocket Lab’s onboard computer guided the booster through reentry, successfully flipping it around 180 degrees.

The booster of Rocket Lab’s Electron rocket separates as its upper stage, with its engine nozzle visible in the foreground, continues on to orbit. Rocket Lab

The booster remained stable through the intense reentry, Rocket Lab said, slowing to a speed of less than 560 miles per hour. The booster then smashed into the ocean and disintegrated, a move that Rocket Lab planned if the reentry process was successful. Next up for Rocket Lab’s recovery attempts will be adding parachutes, which will deploy once the booster reenters the atmosphere. The company then plans to use a helicopter to snag the parachute in midair, to carry the booster back to a soft landing on a Rocket Lab boat.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: michael sheetz
Keywords: news, cnbc, companies, boosters, mission, lab, electron, rockets, company, milestone, rocket, booster, labs, recover, quest, spacexlike, reuse, key, stage, reentry, passes


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Stocks making the biggest moves midday: Uber, Tesla, Ulta, Zoom Video & more

Tesla — Shares of the automaker gained more than 2% after Morgan Stanley raised its “bull case” target on the stock to $500. Ulta earnied $2.25 per share, compared to the $2.13 per share expected by Wall Street analysts, according to Refinitiv. Zoom Video Communications — Shares of the video-conferencing company plummeted more than 10% on the back of quarterly results that revealed slowing growth. Big Lots lost 18 cents per share, compared to the 20 cents per share expected on Wall Street, accor


Tesla — Shares of the automaker gained more than 2% after Morgan Stanley raised its “bull case” target on the stock to $500.
Ulta earnied $2.25 per share, compared to the $2.13 per share expected by Wall Street analysts, according to Refinitiv.
Zoom Video Communications — Shares of the video-conferencing company plummeted more than 10% on the back of quarterly results that revealed slowing growth.
Big Lots lost 18 cents per share, compared to the 20 cents per share expected on Wall Street, accor
Stocks making the biggest moves midday: Uber, Tesla, Ulta, Zoom Video & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, reported, zoom, moves, quarterly, company, stock, ulta, stocks, shares, cents, street, midday, share, tesla, making, morgan, uber, revenue, video


Stocks making the biggest moves midday: Uber, Tesla, Ulta, Zoom Video & more

An Uber banner on the New York Stock Exchange on the day of Uber’s IPO, May 10, 2019.

Check out the companies making headlines in midday trading:

Uber Technologies — Shares of Uber slid 2% after the ride-hailing company said more than 3,000 sexual assaults occurred during rides last year in the United States alone. This finding was revealed as part of the company’s first-ever U.S. Safety Report, which was released on Thursday.

Tesla — Shares of the automaker gained more than 2% after Morgan Stanley raised its “bull case” target on the stock to $500. The firm said that this best case scenario could result if the recently unveiled Cybertruck is successful, and if the new factory in China tops expectations. Morgan Stanley’s “base case” price target for the stock remains $250.

Ulta Beauty — Shares of the cosmetics company surged more than 13% after beating quarterly profit estimates, driven by sales of higher-margin cosmetics products. Ulta earnied $2.25 per share, compared to the $2.13 per share expected by Wall Street analysts, according to Refinitiv.

Zoom Video Communications — Shares of the video-conferencing company plummeted more than 10% on the back of quarterly results that revealed slowing growth. Zoom’s revenue of $166.6 million represents annualized growth of 85%. That’s less growth than in the previous quarter, when sales grew by 96%.

DocuSign — DocuSign shares climbed more than 7% after the digital signature software company posted quarterly results that beat analyst expectations. The company posted an adjusted profit of 11 cents a share on revenue of $249.5 million. Analysts polled by Refinitiv expected earnings per share of 3 cents on revenue of $239.9 million.

Big Lots — Shares of Big Lots soared more than 25% after the retailer reported a smaller-than-expected loss for its third-quarter earnings. Big Lots lost 18 cents per share, compared to the 20 cents per share expected on Wall Street, according to Refinitiv. The company also reported revenue of $1.168 billion, topping the forecast $1.162 billion.

Cloudera — Cloudera popped nearly 10% in midday trading after multiple brokerages (including Morgan Stanley and Bank of America Merrill Lynch) raised their price targets on the company’s equity after the enterprise software firm reported third-quarter earnings and revenues ahead of what the Street expected.

Stifel analysts wrote that they were “pleased to see that Cloudera has seemingly stabilized its business, [but] remain cautious around the true size of the company’s long-term market opportunity.”

— CNBC’s Fred Imbert, Maggie Fitzgerald and Pippa Stevens contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, reported, zoom, moves, quarterly, company, stock, ulta, stocks, shares, cents, street, midday, share, tesla, making, morgan, uber, revenue, video


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Ulta Beauty shares rally on earnings beat, but analysts see weak cosmetics sales ahead

Kylie Jenner visits Houston Ulta Beauty to promote the exclusive launch of Kylie Cosmetics with the beauty retailer, on November 18, 2018 in Houston, Texas. Ulta Beauty beat third-quarter profit estimates on Thursday, driven by sales of higher-margin cosmetics products, sending the retailer’s shares up nearly 13% during midday trading Friday. Ulta has attributed cosmetics lines from Kylie Jenner and YouTuber James Charles for driving customers to its stores. Ulta shares were recently trading aro


Kylie Jenner visits Houston Ulta Beauty to promote the exclusive launch of Kylie Cosmetics with the beauty retailer, on November 18, 2018 in Houston, Texas.
Ulta Beauty beat third-quarter profit estimates on Thursday, driven by sales of higher-margin cosmetics products, sending the retailer’s shares up nearly 13% during midday trading Friday.
Ulta has attributed cosmetics lines from Kylie Jenner and YouTuber James Charles for driving customers to its stores.
Ulta shares were recently trading aro
Ulta Beauty shares rally on earnings beat, but analysts see weak cosmetics sales ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: ganesh setty, annie palmer
Keywords: news, cnbc, companies, kylie, cosmetics, analysts, beat, rally, stock, ulta, company, shares, share, weak, beauty, earnings, sales


Ulta Beauty shares rally on earnings beat, but analysts see weak cosmetics sales ahead

Kylie Jenner visits Houston Ulta Beauty to promote the exclusive launch of Kylie Cosmetics with the beauty retailer, on November 18, 2018 in Houston, Texas.

Ulta Beauty beat third-quarter profit estimates on Thursday, driven by sales of higher-margin cosmetics products, sending the retailer’s shares up nearly 13% during midday trading Friday.

Ahead of the earnings report, investors had been worried that the retailer would see weaker makeup sales, but the nearly 30-year-old company has capitalized on booming demand for celebrity-led beauty brands, which are usually priced at a premium. Ulta has attributed cosmetics lines from Kylie Jenner and YouTuber James Charles for driving customers to its stores.

In the latest quarter, Ulta reported net income of $129.75 million, or $2.25 per share, compared with earnings of $131.17 million, or $2.18 per share, in the same quarter last year. Analysts expected the company to earn $2.13 per share, according to Refinitiv consensus estimates.

Revenue rose to $1.68 billion from $1.56 billion a year ago but was slightly lower than the $1.69 billion analysts expected. But the company matched same-store sales growth forecasts of 3.2%.

Ulta narrowed its full-year earnings outlook to a range of $11.93 to $12.03 per share from its previous forecast of $11.86 to $12.06 per share.

Wells Fargo analyst Ike Boruchow raised his price target to $250 from $235 per share. Ulta shares were recently trading around $267. He expects the stock to trade higher in the near term but sees further challenges ahead for the company.

“We believe that slowing cosmetic trends and shifting industry dynamics will meaningfully pressure the business, even as they generate robust comps for the broader retail space,” said Boruchow in a note Thursday. He added that the stock will likely remain a “highly debated stock in the near-term.”

Nomura analyst Michael Baker similarly increased the stock’s price target to $230 from $215, saying the earnings were “not as bad as feared.” He reiterated a “reduce” rating on the stock, saying he expects sales of color cosmetics to remain weak at least into mid-2020. The category is the most important one to the beauty retailer.

As a result, Baker expects the company will be forced to cut its earnings forecast in the future.

Ulta is one of the top-performing S&P 500 components since the start of the bull market in 2009. Its shares are up about 8% year to date.

— CNBC’s Michael Bloom and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: ganesh setty, annie palmer
Keywords: news, cnbc, companies, kylie, cosmetics, analysts, beat, rally, stock, ulta, company, shares, share, weak, beauty, earnings, sales


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What Jay Leno, Tony Hawk and 8 other successful millionaires wish they knew in their 20s

We asked Jay Leno, Tony Hawk, Barbara Corcoran and seven other Advisors in The Oracles what they would wish they knew in their 20s. —Jay Leno, one of the world’s most successful comedians, star of “Jay Leno’s Garage” on CNBC, and former longtime host of NBC’s “The Tonight Show.” “Don’t stop playing the violin or doing Frontside 540s. —Tony Hawk, founder and CEO of Birdhouse Skateboards and president of the Tony Hawk Foundation3. —Dan Lok, serial entrepreneur, global educator, international bests


We asked Jay Leno, Tony Hawk, Barbara Corcoran and seven other Advisors in The Oracles what they would wish they knew in their 20s.
—Jay Leno, one of the world’s most successful comedians, star of “Jay Leno’s Garage” on CNBC, and former longtime host of NBC’s “The Tonight Show.”
“Don’t stop playing the violin or doing Frontside 540s.
—Tony Hawk, founder and CEO of Birdhouse Skateboards and president of the Tony Hawk Foundation3.
—Dan Lok, serial entrepreneur, global educator, international bests
What Jay Leno, Tony Hawk and 8 other successful millionaires wish they knew in their 20s Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: the oracles
Keywords: news, cnbc, companies, stop, wish, things, company, knew, hawk, founder, life, tony, youll, millionaires, tell, successful, 20s, dont, ceo, leno, jay, learn


What Jay Leno, Tony Hawk and 8 other successful millionaires wish they knew in their 20s

Have you ever wished you could go back in time and give your younger self advice? Time travel may not be possible, but the next best thing is learning from others. We asked Jay Leno, Tony Hawk, Barbara Corcoran and seven other Advisors in The Oracles what they would wish they knew in their 20s.

1. ‘Mistakes are okay.’

“I made some stupid decisions growing up, but I probably wouldn’t be as successful if I hadn’t made them. So I would tell my younger self that mistakes are OK, as long as you learn from them. Some things you just have to learn for yourself. You can tell people like me not to touch a hot stove, but we’ll still do it. Given a chance, I’d probably touch it again — because that’s how you learn. Today every kid gets a trophy regardless of how they place, but that’s not how it should be. Because I was dyslexic, my mother told me that I would have to work twice as hard as other kids to get the same things. So I went through life with that attitude. I came in a little earlier and went home a little later, and it always paid off.” —Jay Leno, one of the world’s most successful comedians, star of “Jay Leno’s Garage” on CNBC, and former longtime host of NBC’s “The Tonight Show.” Follow him on Facebook and Instagram

2. ‘Savor the ride.’

“Don’t stop playing the violin or doing Frontside 540s. Embrace adversity. Enjoy your travels to strange places. Tell your kids you love them more often. Eat less meat. Go to that Joe Strummer show, because it will be your last chance. Be more honest about your feelings. Don’t start a high-end denim company. Save all of your Hi8 video footage. Don’t do a loop while wearing a monkey costume. Invest in Uber instead of that burger place. Surf more. Don’t chase fame. Savor the quiet moments. Learn laser flips and to speak French properly.” Believe in yourself more, and enjoy the ride. —Tony Hawk, founder and CEO of Birdhouse Skateboards and president of the Tony Hawk Foundation

3. ‘Use self-doubt to your advantage.’

“I would want to tell my younger self that self-doubt can sometimes be a good thing. Self-doubt is something I struggled with daily. Growing up, I had a hard time learning to read and write, so I was labeled ‘the dumb kid.’ I let that get me down and diminish my confidence, so much so that when my boyfriend dumped me and said, ‘You’ll never succeed without me,’ I almost believed him. Almost. Today, I use insecurity as a motivator to learn and try harder. I am my biggest cheerleader. The moment that insecurity starts to creep in, I remind myself: ‘Barbara, you’re amazing.'” —Barbara Corcoran, founder of The Corcoran Group, podcast host of “Business Unusual,” and Shark on “Shark Tank”

4. ‘Focus on the long term.’

“My advice for young people is this: Don’t focus on your weaknesses; focus on what you’re naturally good at, which you’ll likely enjoy. If you don’t know what that is, try more things. Then develop that skill, and the market will compensate you for it. Think long-term. Identify a person or company to learn from and work for the skills, not the paycheck. In my early 20s, I worked for next to nothing for my mentor. But I call that my ‘million-dollar year’ because that’s the value of the education I received. I spent the first five years of my career working long hours and living with my mom. And I never took a vacation. Success takes hard work and time, but you have time. The question is, are you willing to work hard? Identify where you want to go and who you need to be to get there. Then reverse-engineer a plan.” —Dan Lok, serial entrepreneur, global educator, international bestselling author of “Unlock It!,” founder and CEO of Closers.com and Copywriters.com. Follow him on YouTube, Facebook, and Instagram

5. ‘Stop thinking small and stop complaining.’

“There are two things I’d tell my 20-something self: 1. Stop thinking so small. No matter how big you think you can grow your current project or company, multiply those thoughts by 20. Don’t think about what you don’t have; map out exactly what it would take to make that goal a reality. Remember, there’s no shortage of available money, and the right deal will always find the funding. Most investors will pass on a deal that seems too small and without colossal upside. So don’t be afraid to dream bigger and sell the deal larger! 2. Stop complaining so much. No one wants to hear you whine. No one cares about your losses, bad partnerships, rip-offs, or screw-overs. Suck it up, regroup, sell through it, and be fearlessly committed to your goals without complaining about the bumps and bruises that come with the territory.” —Matt Mead, founder and CEO at Drivonic; co-founder of Mead Holdings Group, The Epek Companies, and Grayson Pierce Capital

6. ‘Be yourself. Always.’

“I wish I’d known sooner to go all-in on being myself, unapologetically. All of me, not the version that’s filtered, edited, appropriately professional, properly feminine and pretty — or properly anything, for that matter. In the end, you will give in to being you. You can wait if you like, but what you feel inside — about who you really are and what your life is meant to be about — is not going away. A year from now, it will still be there; you’ll just be older. So rip off the band-aid now.” —Katrina Ruth, founder and CEO of “The Katrina Ruth Show,” a multimillion-dollar online coaching business for entrepreneurs. Follow her on Facebook, Instagram, and YouTube

7. ‘Don’t regret your choices.’

“I’d tell myself to never regret the choices I make. Sure, it would be easy to say, ‘I wish I would have started my company sooner, bought Amazon stock when I first heard about it, and continued the podcast I started in 2007 instead of switching to YouTube.’ But the truth is, I am where I am today because of the choices I made. I own that. I don’t do regret anymore, and I don’t believe in suffering from addiction to the past. I’m here now and I’m always committed to what’s next.” —Tom Ferry, founder and CEO of Tom Ferry International and New York Times bestselling author of “Life! By Design”; ranked the No. 1 real estate coach by Swanepoel Power 200. Follow him on Instagram and Facebook

8. ‘Prepare to lose.’

“You can’t save your way to wealth or cut costs to become more profitable. You have to spend money to grow it. Most entrepreneurs focus on their return on investment rather than what they need to spend to reach their goals — and what they might have to lose along the way. This ‘acceptable loss’ is an important term I learned in the military, and one of the most difficult decisions a business owner faces. It’s about identifying what you’re prepared to lose to accomplish your goal and taking calculated risks to get there. Like most entrepreneurs, I originally got into business for myself to make money. But I’ve also learned that if you help people, money just comes as a byproduct. So create your company to make an impact or reach a massive audience for a cause, which is what I’ve done with every one of my businesses.” —Patch Baker, founder and CEO of Mobius Media Solutions; former U.S. Marine, with a mission to help people leave the military today and not feel abandoned tomorrow

9. ‘Prioritize your health and relationships.’

“Trust your instincts. Life will get tough — and so will you. You’ll feel broken sometimes, but it’s just the beginning. Embrace the lessons from hurt and failure, and always get back up. Do the self-work and have a growth mindset. Lose your ego and inhibition. Forgive everyone for everything, always — especially yourself. You’ll find your voice, happiness, and choice; then you’ll help others do the same. Respect your fear and work through it. You’ll impact millions of lives; so unapologetically own your contribution and your story. Stop making excuses. Integrity and honesty are everything, so be true to yourself. Love those close to you. Your health and relationships are the most important things in life, so get your priorities straight! Learn the art of self-care, and love yourself as if your life depends on it — because it does. Sing every day. Learn to sleep. Always be a student. Stop wasting time worrying. Focus. Think, dream, and do big things.” —Andrea Callanan, musician-turned-entrepreneur; voice, confidence, and success coach, author of “You Are Meant for More,” and founder of employee engagement company Inspire Me. Follow her on Facebook, Instagram, and Twitter

10. ‘Be your own champion.’


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: the oracles
Keywords: news, cnbc, companies, stop, wish, things, company, knew, hawk, founder, life, tony, youll, millionaires, tell, successful, 20s, dont, ceo, leno, jay, learn


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CVS CEO Larry Merlo: We are a health-care company today

CVS CEO Larry Merlo: We are a health-care company todayCVS CEO Larry Merlo joins CNBC’s “Squawk Box” team to discuss the company’s progress after its merger with Aetna.


CVS CEO Larry Merlo: We are a health-care company todayCVS CEO Larry Merlo joins CNBC’s “Squawk Box” team to discuss the company’s progress after its merger with Aetna.
CVS CEO Larry Merlo: We are a health-care company today Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05
Keywords: news, cnbc, companies, ceo, merger, progress, joins, today, company, cvs, merlo, team, healthcare, larry, squawk, todaycvs


CVS CEO Larry Merlo: We are a health-care company today

CVS CEO Larry Merlo: We are a health-care company today

CVS CEO Larry Merlo joins CNBC’s “Squawk Box” team to discuss the company’s progress after its merger with Aetna.


Company: cnbc, Activity: cnbc, Date: 2019-12-05
Keywords: news, cnbc, companies, ceo, merger, progress, joins, today, company, cvs, merlo, team, healthcare, larry, squawk, todaycvs


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Shares of biotech Aurinia double in one day after positive data for Lupus drug

Shares of biotech Aurinia Pharmaceuticals surged on Thursday after the company announced positive results from a trial for its lupus-related drug. Some analysts expect the stock to quadruple on the better-than-expected trial results. “The data were better than we expected,” Alethia Young, biotech analyst at Cantor Fitzgerald, said in a note on Thursday. “We think that shares will be up at least 300-400% based on this news. If we conservatively assume VCS is a $1B drug, we think that investors co


Shares of biotech Aurinia Pharmaceuticals surged on Thursday after the company announced positive results from a trial for its lupus-related drug.
Some analysts expect the stock to quadruple on the better-than-expected trial results.
“The data were better than we expected,” Alethia Young, biotech analyst at Cantor Fitzgerald, said in a note on Thursday.
“We think that shares will be up at least 300-400% based on this news.
If we conservatively assume VCS is a $1B drug, we think that investors co
Shares of biotech Aurinia double in one day after positive data for Lupus drug Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: yun li
Keywords: news, cnbc, companies, day, stock, drug, biotech, results, positive, company, double, shares, lupus, aurinia, trial, data, think


Shares of biotech Aurinia double in one day after positive data for Lupus drug

Shares of biotech Aurinia Pharmaceuticals surged on Thursday after the company announced positive results from a trial for its lupus-related drug.

The Victoria, Canada-based company rallied as much as 106% on Thursday after its phase three trial for drug voclosporin posted positive efficacy and safety results in the treatment of lupus nephritis, the company said in a statement on Thursday evening. The jump in Aurinia’s stock pushed its market cap to more than $1 billion.

Some analysts expect the stock to quadruple on the better-than-expected trial results.

“The data were better than we expected,” Alethia Young, biotech analyst at Cantor Fitzgerald, said in a note on Thursday. “We think that shares will be up at least 300-400% based on this news. If we conservatively assume VCS is a $1B drug, we think that investors could put a 3-4x revenue multiple on the company (so $3-4B).”

Cantor has an overweight rating on Aurinia and a 12-month price target of $24, which would translate into a 186% gain from Wednesday’s close.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: yun li
Keywords: news, cnbc, companies, day, stock, drug, biotech, results, positive, company, double, shares, lupus, aurinia, trial, data, think


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How Nordstrom uses robots and shelves inspired by ants to deliver lipstick faster

The Seattle-headquartered company has tapped two new partners, robotics supply chain company Attabotics and parcel-sorting provider Tompkins Robotics, to test a more modern facility in the San Jose area. Nordstrom is the first retailer to bring together both Attabotics’ and Tompkins Robotics’ technology into a single distribution center, in Newark, California. Nordstrom’s eight other U.S. distribution facilities are in Portland, Oregon; Dubuque, Iowa; Cedar Rapids, Iowa; Ontario, California; New


The Seattle-headquartered company has tapped two new partners, robotics supply chain company Attabotics and parcel-sorting provider Tompkins Robotics, to test a more modern facility in the San Jose area.
Nordstrom is the first retailer to bring together both Attabotics’ and Tompkins Robotics’ technology into a single distribution center, in Newark, California.
Nordstrom’s eight other U.S. distribution facilities are in Portland, Oregon; Dubuque, Iowa; Cedar Rapids, Iowa; Ontario, California; New
How Nordstrom uses robots and shelves inspired by ants to deliver lipstick faster Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: lauren thomas
Keywords: news, cnbc, companies, chain, ants, uses, nordstrom, supply, customers, robotics, faster, california, inspired, shelves, company, tompkins, newark, lipstick, robots, deliver, phan


How Nordstrom uses robots and shelves inspired by ants to deliver lipstick faster

NEWARK, California — If you’re in retail these days, you’re likely trying to solve these two problems: How to cut costs, and how to get products to your customers as quickly as possible. Nordstrom thinks it has found a solution that will help it do both. And it starts at a warehouse in Newark, California. The Seattle-headquartered company has tapped two new partners, robotics supply chain company Attabotics and parcel-sorting provider Tompkins Robotics, to test a more modern facility in the San Jose area. If successful, the retailer could expand its use to Nordstrom’s eight other U.S. distribution centers. Nordstrom hopes a speedier and slimmed-down supply chain will help it rise above other department store operators that are struggling to win customers over the likes of Amazon, Walmart and Target. Nordstrom’s online sales are growing, up 16% in fiscal 2018, and make up 30% of total net sales, which were $15.48 billion last year. But revenues are meantime shrinking at its core department store business. So it’s looking for ways to keep stoking this growth engine.

Where faster delivery begins

In Newark, California, Nordstrom has stocked row after row of shelving with all of its beauty merchandise to fulfill online orders for Chanel perfume, Kiehl’s facial rubs and Yves Saint Laurent lip kits up and down the West Coast. Nordstrom is also using the center to help stock its stores in the area.

Nordstrom is the first retailer to bring together both Attabotics’ and Tompkins Robotics’ technology into a single distribution center, in Newark, California. Source: Nordstrom

“We recognize that the supply chain is a critical component of being able to deliver on [our customers’] experiences,” Ngoc Phan, vice president of supply chain at Nordstrom, said in an interview at the Newark facility earlier this week. “So we’ve been looking for solutions that fit inside our broader strategy. … It’s about opportunities to get product closer to customers … and avoid extended shipping and fulfillment delays.” The combination of Attabotics’ and Tompkins Robotics’ technologies uses 90% less space than other alternatives, and allows the company to be more nimble and stock more inventory, Phan said. The Newark facility, which has been up and running since the spring, is roughly 340,000 square feet, while a traditional warehouse can span upwards of 1.5 million square feet, she said. Nordstrom currently offers same-day delivery for certain ZIP codes in California, Colorado, Illinois, New York and Washington, according to its website. But it plans to grow that option. Nordstrom started working with Attabotics and Tompkins Robotics with its beauty products because that represents one of the company’s top categories. “And what we’ve learned, is that often when our customers are buying the product, they will order with another [beauty] product,” Phan explained. “And what it means for us, is that we’re moving one of our top categories closer to the customer, which means that we can deliver their product to them faster, as well as … it will also reduce the amount of packages that we’re shipping to customers.”

Consumers have more real-time access to and understanding of retailers’ supply chain-influenced offerings than ever before. This is driving higher expectations… Thomas O’Connor Gartner supply chain analyst

In the coming weeks, Nordstrom will install this same system in a new facility in Torrence, California, where it will hold inventory and process orders for its Local shops in Los Angeles. When customers visit a Nordstrom Local, they aren’t actually taking the merchandise they buy home with them. Instead, the stores are inventory-free locations for fittings and other services like manicures, pedicures and stroller cleanings. When placing an online order from home, customers can also select a Nordstrom Local as a spot for curbside pickup. “Our hope would be to expand product categories, along with expanding this type of solution in other markets,” Phan said. Nordstrom’s eight other U.S. distribution facilities are in Portland, Oregon; Dubuque, Iowa; Cedar Rapids, Iowa; Ontario, California; Newark, California; San Bernardino, California; Upper Marlboro, Maryland; Gainesville, Florida; and Elizabethtown, Pennsylvania.

Attabotics has brought its patented storage structure, which is inspired by ant colonies, to Nordstrom’s fulfillment center in Newark, California. Source: Nordstrom

Nordstrom knew it needed to bring in outside experts to make its logistics vision a reality. Attabotics, which was named to CNBC’s Upstart 100 list earlier this year, is a 3-D robotics provider for fulfillment centers that replaces the traditional row-and-aisle configuration seen in warehouses with a patented storage structure inspired by ant colonies, which store items vertically. The Calgary-based company says it can reduce square-footage needs, allowing companies to bring fulfillment centers closer to high-density, urban areas. Warehouses have long been placed in more remote locations, where the cost of land is less expensive. But smaller buildings can get closer to metros. Tompkins Robotics, meantime, has developed a parcel-sorting solution it calls t-Sort Plus, which uses autonomous robots that travel the shortest route possible to grab boxes and deliver them to their appropriate destination. Additional robots can be added during peak seasons, like the holidays, the company said. The Tompkins International unit is based in Raleigh, North Carolina. With the two technologies, Nordstrom can store thousands of items in crates in one of Attabotics’ so-called matrices, which tower more than 20 feet high. When items are needed, they’re electronically picked and pushed toward Tompkins’ conveyor belt, where more robots help Nordstrom workers sort the merchandise. Phan said the combo — a first in the retail industry — is saving workers from walking miles and miles each day. “We can [allocate] workers to functions that provide more value to our customers, like making sure it’s the right item, it’s high quality and its package is at the standard of which our customers expect from us — as well as labeled to their shipping destination of choice,” she said. “And we hope that investing in these types of [robotics] solutions help employees to want to come work for us, as well as for employees to stay working with us.” Phan said the technology is also helping Nordstrom process returns at a faster rate and resell a larger quantity of returned beauty merchandise, after items are inspected and cleared to be repackaged.

A Nordstrom worker processes orders on a conveyor belt built by Tompkins Robotics, in Newark, California. Source: Nordstrom

California, and specifically Los Angeles, has always been a testing ground for Nordstrom. The company has 16 stores in the Los Angeles area today, serving 4 million shoppers. It brings in $1 billion in annual sales, making it the retailer’s largest market, by far. Nordstrom has called New York a potentially $700 million market, for comparison.

Going inventory-free

Los Angeles was the first city to see an inventory-free Nordstrom Local store. It opened in October 2017. In Los Angeles, during Nordstrom’s latest-reported quarter, the growth in customers shopping in stores and online was 100 basis points higher than the company average, according to co-president Erik Nordstrom. On a post-earnings conference call, he said those customers are spending about four times as much as the average customer. And sell-through rates in the Los Angeles area — or the percentage of inventory that Nordstrom sells versus what it’s receiving from suppliers — are higher than in other markets, “contributing to profitability,” he said. Nordstrom declined to quantify its supply chain investments, or disclose the terms of its tie-up with Attabotics and Tompkins Robotics. Phan said Nordstrom is primarily focused on time savings. She said the upgrades in Newark are helping Nordstrom shave “one to two days” off of beauty deliveries up and down the entire West Coast. “Consumers have more real-time access to and understanding of retailers’ supply chain-influenced offerings than ever before,” Thomas O’Connor, a senior supply chain analyst with Gartner, told CNBC in an interview. “This is driving higher expectations of supply chain services and the information that can and should be made available to shoppers such as in-store inventory availability and real-time delivery tracking.” As Nordstrom retools its supply chain, it should be thinking about how to meet the “demands of the modern consumer,” he said. Nordstrom has said New York, which is the company’s biggest market for online sales, will be its next focus. The company in October opened its first flagship store in Manhattan.

Fighting for every sale


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: lauren thomas
Keywords: news, cnbc, companies, chain, ants, uses, nordstrom, supply, customers, robotics, faster, california, inspired, shelves, company, tompkins, newark, lipstick, robots, deliver, phan


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Stocks making the biggest moves midday: Etsy, ViacomCBS, Biogen, Sage Therapeutics & more

Biogen – The biotechnology company’s stock rose 3.3% after Biogen released new data about its late-stage Alzheimer’s drug called aducanumab. Signet Jewelers — Shares of the jewelry company popped more than 9% in midday trading after the company reported a smaller-than-expected loss and topped analysts’ sales expectations in the third quarter. Sage Therapeutics — Sage’s stock plunged nearly 60% after the company announced its oral depression therapy failed in a late-stage trial. Five Below report


Biogen – The biotechnology company’s stock rose 3.3% after Biogen released new data about its late-stage Alzheimer’s drug called aducanumab.
Signet Jewelers — Shares of the jewelry company popped more than 9% in midday trading after the company reported a smaller-than-expected loss and topped analysts’ sales expectations in the third quarter.
Sage Therapeutics — Sage’s stock plunged nearly 60% after the company announced its oral depression therapy failed in a late-stage trial.
Five Below report
Stocks making the biggest moves midday: Etsy, ViacomCBS, Biogen, Sage Therapeutics & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: michael sheetz
Keywords: news, cnbc, companies, biogen, results, therapeutics, earnings, moves, data, biggest, trial, viacomcbs, sage, etsy, stock, shares, midday, stocks, company, drug, reported, making, million


Stocks making the biggest moves midday: Etsy, ViacomCBS, Biogen, Sage Therapeutics & more

An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn.

Check out the companies making headlines in midday trading:

Etsy — Shares of e-commerce company Etsy fell 1.4% after Morgan Stanley downgraded the e-commerce website company to underweight from ‘equal weight. The bank said it sees slowing gross merchandise sales that will result in negative earnings revisions.

ViacomCBS — ViacomCBS shares rallied more than 3% after it announced on Wednesday evening the completion of the merger between CBS and Viacom. The new company is expected to focus on quality content as rivals like Disney, Apple and Amazon ramp up their own streaming and original shows and films.

Biogen – The biotechnology company’s stock rose 3.3% after Biogen released new data about its late-stage Alzheimer’s drug called aducanumab. While the data did not offer any significant differences from data Biogen released in October, analysts believe the lack of negatives in the most recent report means the company will soon bring the drug’s data to the Food and Drug Administration.

Signet Jewelers — Shares of the jewelry company popped more than 9% in midday trading after the company reported a smaller-than-expected loss and topped analysts’ sales expectations in the third quarter. Despite a larger net loss than the year-ago period, the owner of Kay, Zales and Jared issued better fiscal 2020 guidance thanks to the success of its transformation plan, according to CEO Virginia Drosos.

Acadia Pharmaceuticals — Shares of the pharmaceutical company jumped 14.8% on positive trial results for its pimavanserin drug, which aims to treat psychosis on patients with Alzheimer’s disease. Acadia also said serious adverse effects were low during the trials.

Sage Therapeutics — Sage’s stock plunged nearly 60% after the company announced its oral depression therapy failed in a late-stage trial. After 15 days, the treatment did not produce significant improvements across 17 parameters, including anxiety.

Restoration Hardware – The furniture company’s stock surged more than 10% after reporting better-than-expected third quarter earnings. RH earned $2.79 per share on $677 million. Wall Street expected $2.23 per share on revenue of $676 million, according to Refinitiv. The company also raised its full year earnings guidance.

Five Below – Shares of the discount retailer popped 5% on strong third quarter earnings. Five Below reported earnings of 18 cents per share, topping estimates by 1 cents, according to Refinitiv. Revenue came in at $377 million, higher than the $374 million forecast by analysts.

Glencore – Shares of commodities trading company Glencore fell more than 8% after the company disclosed that the United Kingdom’s Serious Fraud Office is investigating the company for bribery. Glencore is also under investigation by the Department of Justice for the “Operation Car Wash” scandal in Brazil.

The Michaels Companies – The home goods store chain’s stock fell 11% after Michaels reported third-quarter earnings and revenue that were both below Wall Street’s expectations, according to a FactSet survey of analysts. Michaels lowered its fiscal year forecast, while the company also reported worse than anticipated same store sales for the most recent quarter.

Aurinia Pharmaceuticals — Shares of biotech Aurinia Pharmaceuticals surged a whopping 92% after the biotech company announced positive results from a trial for its lupus-related drug. The company said its phase three trial for drug voclosporin posted positive efficacy and safety results in the treatment of lupus nephritis. Some analysts expect the stock to quadruple on the better-than-expected trial results.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: michael sheetz
Keywords: news, cnbc, companies, biogen, results, therapeutics, earnings, moves, data, biggest, trial, viacomcbs, sage, etsy, stock, shares, midday, stocks, company, drug, reported, making, million


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Biogen’s stock rises 4% after company releases new data on late-stage Alzheimer’s drug

The exterior of the headquarters of biotechnology company Biogen in Cambridge, MA is pictured on March 21, 2019. Biogen shares rose Thursday after the biotech firm offered more data on its late-stage Alzheimer’s drug, aducanumab. The data, presented at the Clinical Trials on Alzheimer’s Disease conference, offered almost no new results from what the company previously released in October. Dr. Eric Siemers, an Alzheimer’s expert who previously led Alzheimer’s research at Eli Lilly, also noted the


The exterior of the headquarters of biotechnology company Biogen in Cambridge, MA is pictured on March 21, 2019.
Biogen shares rose Thursday after the biotech firm offered more data on its late-stage Alzheimer’s drug, aducanumab.
The data, presented at the Clinical Trials on Alzheimer’s Disease conference, offered almost no new results from what the company previously released in October.
Dr. Eric Siemers, an Alzheimer’s expert who previously led Alzheimer’s research at Eli Lilly, also noted the
Biogen’s stock rises 4% after company releases new data on late-stage Alzheimer’s drug Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, disease, biogen, results, latestage, offered, biogens, data, alzheimers, patients, stock, drug, company, rises, shares, releases


Biogen's stock rises 4% after company releases new data on late-stage Alzheimer's drug

The exterior of the headquarters of biotechnology company Biogen in Cambridge, MA is pictured on March 21, 2019.

Biogen shares rose Thursday after the biotech firm offered more data on its late-stage Alzheimer’s drug, aducanumab.

The data, presented at the Clinical Trials on Alzheimer’s Disease conference, offered almost no new results from what the company previously released in October. However, analysts who parsed through it said the lack of any new negatives in the report means they expect the company will take the data to the Food and Drug Administration.

“The data is so confusing,” said Jared Holz, a health-care strategist at Jefferies, adding the report did show a slightly better response to the drug at higher doses.

Dr. Eric Siemers, an Alzheimer’s expert who previously led Alzheimer’s research at Eli Lilly, also noted the company offered a more detailed look but “almost the same as they showed” previously.

Shares of Biogen were up more than 4% after falling 3% immediately on the news. Prior to the announcement, Biogen shares were halted at $286.83. The stock, which had a market value of nearly $52 billion at the time, is down nearly 5% since the start of the year.

The drug targets a compound in the brain known as beta-amyloid, which is thought to play a role in the devastating disease.

In March, Biogen pulled the plug on its drug after an analysis from an independent audit revealed the experimental medicine was unlikely to work. The news sent its stock tumbling. However, shares of the Cambridge, Massachusetts-based company soared on Oct. 22 after the drugmaker shocked investors by announcing it was seeking regulatory approval for the drug after all.

Biogen said at the time that a new analysis of a larger data set showed that aducanumab “reduced clinical decline in patients with early Alzheimer’s disease” and patients who received the drug “experienced significant benefits on measures of cognition and function such as memory, orientation, and language.”

The findings in October were met with skepticism from investors and analysts who said the results may have just been by chance. Some analysts remained skeptical after Thursday’s results from the two late-stage studies, saying it raised more questions.

Salim Syed, a senior biotech analyst at Mizuho Securities, said in a note to clients that the new data is “not impressive,” adding it “represents a highly selected patients population that may not be representative of a real world.”

Experts discussing the results on a panel Thursday were largely positive.

Sharon Cohen, a primary investigator on Biogen’s trial, said the data is “is exhilarating not just to the scientific community but to our patients as well.”

There are currently no drugs approved that can reverse the mental decline from Alzheimer’s, which is the sixth leading cause of death in the U.S. The FDA has approved Alzheimer’s drugs aimed at helping symptoms, not actually reversing or slowing the disease itself.

— CNBC’s Meg Tirrell contributed to this report.

This is a developing story. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, disease, biogen, results, latestage, offered, biogens, data, alzheimers, patients, stock, drug, company, rises, shares, releases


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Veritas Genetics, the start-up that can sequence a human genome for less than $600, ceases US operations and is in talks with potential buyers

Veritas Genetics had big plans to lower the price of sequencing the human genome, making it on par with the price of buying an Apple Watch or a fancy dinner. The source asked not to be named because they were not authorized to speak for Veritas Genetics. “All of the customers outside of the U.S. will continue to be served by Veritas Europe and Latin America.” As a result, Veritas has also been in talks with potential acquirers in recent months, said the person. Veritas in November experienced a


Veritas Genetics had big plans to lower the price of sequencing the human genome, making it on par with the price of buying an Apple Watch or a fancy dinner.
The source asked not to be named because they were not authorized to speak for Veritas Genetics.
“All of the customers outside of the U.S. will continue to be served by Veritas Europe and Latin America.”
As a result, Veritas has also been in talks with potential acquirers in recent months, said the person.
Veritas in November experienced a
Veritas Genetics, the start-up that can sequence a human genome for less than $600, ceases US operations and is in talks with potential buyers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: christina farr
Keywords: news, cnbc, companies, companies, genome, sequencing, sequence, human, price, talks, operations, veritas, potential, startup, genetics, tests, company, customers, ceases


Veritas Genetics, the start-up that can sequence a human genome for less than $600, ceases US operations and is in talks with potential buyers

Veritas Genetics had big plans to lower the price of sequencing the human genome, making it on par with the price of buying an Apple Watch or a fancy dinner.

The company, which was the first in the world to map out a person’s DNA for less than $1,000 back in 2016, just shared with customers via email that it is ceasing operations in the U.S.

“Due to an unexpected adverse financing situation, we are being forced to suspend our operations in the U.S. for the time being,” the email, which was viewed by CNBC, reads. “We are currently assessing all paths forward, including strategic options.”

The company also laid off the bulk of its employees based in the U.S., about 50 people, earlier this week, according to a source familiar with the company. The source asked not to be named because they were not authorized to speak for Veritas Genetics.

“I can clarify this temporarily affects U.S. operations only,” a spokesperson for the company said. “All of the customers outside of the U.S. will continue to be served by Veritas Europe and Latin America.”

Veritas, which made this year’s CNBC Disruptor 50 list, hoped to expand to millions more consumers in the coming years by bringing down the price of whole genome sequencing to just a few hundred dollars. It raised more than $50 million in financing since it got its start in 2015.

But the company’s investors, including Simcere Pharmaceutical and Lilly Asia Ventures, are based in China, at a time when the Trump administration is cracking down on Chinese firms making investments in U.S. companies. Earlier this year, the Committee on Foreign Investment in the United States, or CFIUS, forced a health-tech company called PatientsLikeMe to find a buyer after ordering its Chinese owner to divest its stake. PatientsLikeMe eventually sold to UnitedHealth.

For Veritas, it meant that new investors who were interested in the business got skittish because of the potential for oversight from CFIUS, according to the person familiar with the company. As a result, Veritas has also been in talks with potential acquirers in recent months, said the person.

If Veritas is able to figure out a path forward, it hopes to be competitive with companies such as Ancestry and 23andMe by offering more information for about the same price. 23andMe has dabbled with offering sequencing to its customers, but currently provides only genotyping services, meaning it looks at specific parts of the genome which are known to be associated with a certain condition or trait.

While 23andMe and Ancestry primarily sell tests for people interested in their ancestral composition and wellness traits, Veritas has long stressed that it’s different because it provides potentially actionable insights into its users’ health.

Veritas’ decision to stop selling its tests in the U.S. comes as other consumer-facing DNA testing companies report that sales have slowed. One potential factor is that people have grown more concerned about protecting their privacy, especially in the wake of high-profile news events such as the Golden State Killer case. That stoked fears about whether individuals could be found and convicted for past crimes based on distant relatives’ DNA.

But for Veritas, which bills itself as more of a medical company, sales of its tests have been increasing since it dropped its price in July, according to the person familiar.

Veritas in November experienced a security breach that included some customer information, the start-up confirmed to Bloomberg. The company stressed that only a handful of people were affected.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: christina farr
Keywords: news, cnbc, companies, companies, genome, sequencing, sequence, human, price, talks, operations, veritas, potential, startup, genetics, tests, company, customers, ceases


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