‘You don’t do these things prior to negotiations,’ ex-diplomat says of US actions against China

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018. The latest U.S. actions against Chinese officials and companies don’t “set a good tone” for an upcoming high-level trade talk, a former American ambassador to China said Wednesday. Both announcements came just days ahead of a high-level trade meeting set to take place in Washington on Thursday and Friday. Max Baucus, former U.S. ambassador to China from February 20


A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018. The latest U.S. actions against Chinese officials and companies don’t “set a good tone” for an upcoming high-level trade talk, a former American ambassador to China said Wednesday. Both announcements came just days ahead of a high-level trade meeting set to take place in Washington on Thursday and Friday. Max Baucus, former U.S. ambassador to China from February 20
‘You don’t do these things prior to negotiations,’ ex-diplomat says of US actions against China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yen nee lee abigail ng, yen nee lee, abigail ng
Keywords: news, cnbc, companies, street, chinese, signs, taken, exdiplomat, prior, things, negotiations, china, tone, told, actions, dont, set, trade


'You don't do these things prior to negotiations,' ex-diplomat says of US actions against China

A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, taken on taken on November 6, 2018.

The latest U.S. actions against Chinese officials and companies don’t “set a good tone” for an upcoming high-level trade talk, a former American ambassador to China said Wednesday.

The Trump administration on Tuesday placed visa restrictions on Chinese officials it “believed to be responsible for, or complicit in, the detention and abuse of” Muslim minorities in China’s northwestern Xinjiang region. That followed a Monday move to blacklist 28 Chinese companies alleged to be involved in surveillance and detention of minority groups in China.

Both announcements came just days ahead of a high-level trade meeting set to take place in Washington on Thursday and Friday.

“You don’t do these things prior to negotiations. It does not set a good tone, that’s tactically. Strategically, all these actions — I think — are causing the Chinese to wonder: ‘What is the US’ real motive here?'” Max Baucus, former U.S. ambassador to China from February 2014 to January 2017, told CNBC’s “Street Signs Asia.”

Baucus, also a former Democratic senator from Montana, said the U.S. actions could simply be posturing ahead of the planned trade talks to get a better deal from China. But, “China will not be bluffed,” he added.

Taimur Baig, chief economist at DBS Group Research, echoed that sentiment. “There are ways of putting pressure — back channel diplomacy, implicit threats and so on, but this is very explicit (and) very noisy,” he told CNBC’s “Street Signs Asia.”

“The … potential loss of face for the Chinese is massive. I can’t imagine anybody rationally expecting a constructive outcome out of this,” he added. Baig also said the timing of the U.S. move “could not be worse” and it would “definitely backfire.”

Beijing, in response to the U.S. blacklist of Chinese firms, said it urges the U.S. to “stop interfering” in its internal affairs and suggested that it would retaliate against the American move.


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: yen nee lee abigail ng, yen nee lee, abigail ng
Keywords: news, cnbc, companies, street, chinese, signs, taken, exdiplomat, prior, things, negotiations, china, tone, told, actions, dont, set, trade


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These charitable individuals are giving cash away. Here’s why

Generous individuals are putting more and more of their dollars to work at their favorite causes. Increasingly, they’re using donor-advised funds to do it. Meanwhile, Schwab Charitable said its donor-advised fund owners made more than $2.4 billion in grants over the 2019 fiscal year, ending June 30. That’s a 33% increase compared to the prior year. Donor-advised funds are accounts that individuals can open at a brokerage firm or a large foundation and make gifts of cash and other assets.


Generous individuals are putting more and more of their dollars to work at their favorite causes. Increasingly, they’re using donor-advised funds to do it. Meanwhile, Schwab Charitable said its donor-advised fund owners made more than $2.4 billion in grants over the 2019 fiscal year, ending June 30. That’s a 33% increase compared to the prior year. Donor-advised funds are accounts that individuals can open at a brokerage firm or a large foundation and make gifts of cash and other assets.
These charitable individuals are giving cash away. Here’s why Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: darla mercado
Keywords: news, cnbc, companies, heres, prior, increase, individuals, charitable, grants, away, compared, funds, donoradvised, giving, billion, fund, cash


These charitable individuals are giving cash away. Here's why

Generous individuals are putting more and more of their dollars to work at their favorite causes.

Increasingly, they’re using donor-advised funds to do it.

Account holders at Fidelity Charitable recommended $4 billion in grants during the first six months of 2019, an increase of nearly 50% compared to the prior year.

Meanwhile, Schwab Charitable said its donor-advised fund owners made more than $2.4 billion in grants over the 2019 fiscal year, ending June 30. That’s a 33% increase compared to the prior year.

Donor-advised funds are accounts that individuals can open at a brokerage firm or a large foundation and make gifts of cash and other assets.

Though the fund isn’t required to distribute grants to the charity right away, the donor receives an immediate income tax deduction for making the gift.

Any unspent assets in the account grow tax-free.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: darla mercado
Keywords: news, cnbc, companies, heres, prior, increase, individuals, charitable, grants, away, compared, funds, donoradvised, giving, billion, fund, cash


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Florida governor orders criminal probe into handling of prior Jeffrey Epstein sex case

Epstein will be charged with one count of sex trafficking of minors and one count of conspiracy to engage in sex trafficking of minors. Epstein, 66, is currently facing indictment in Manhattan federal court, where he is accused of child sex trafficking. Prosecutors in that case say he sexually abused dozens of underage girls at his Manhattan townhouse and Palm Beach, Florida, mansion from 2002 through 2005. In the prior case lodged in 2008 by the Palm Beach County State’s Attorney’s Office, Epst


Epstein will be charged with one count of sex trafficking of minors and one count of conspiracy to engage in sex trafficking of minors. Epstein, 66, is currently facing indictment in Manhattan federal court, where he is accused of child sex trafficking. Prosecutors in that case say he sexually abused dozens of underage girls at his Manhattan townhouse and Palm Beach, Florida, mansion from 2002 through 2005. In the prior case lodged in 2008 by the Palm Beach County State’s Attorney’s Office, Epst
Florida governor orders criminal probe into handling of prior Jeffrey Epstein sex case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: dan mangan kevin breuninger, dan mangan, kevin breuninger
Keywords: news, cnbc, companies, epstein, trafficking, states, case, handling, criminal, prior, sex, probe, florida, jeffrey, governor, charges, underage, orders, girls


Florida governor orders criminal probe into handling of prior Jeffrey Epstein sex case

Charges against Jeffery Epstein were announced on July 8, 2019 in New York City. Epstein will be charged with one count of sex trafficking of minors and one count of conspiracy to engage in sex trafficking of minors.

Florida Gov. Ron DeSantis directed his state’s law enforcement department Tuesday to handle a criminal probe into Jeffrey Epstein’s jail work release in the late 2000s, and also asked the agency to launch an inquiry into “other irregularities” surrounding an earlier probe and plea agreement with Epstein.

DeSantis said he wants the Florida Department of Law Enforcement to look into “the prior state investigation ” of Epstein and the plea agreement he signed in 2008.

Epstein, 66, is currently facing indictment in Manhattan federal court, where he is accused of child sex trafficking. He was arrested in early July at a New Jersey airport after flying there from Paris on his private plane.

Prosecutors in that case say he sexually abused dozens of underage girls at his Manhattan townhouse and Palm Beach, Florida, mansion from 2002 through 2005. He has pleaded not guilty, and is being held without bail because the judge in his case said he could represent a danger to other underage girls if he were released.

In the prior case lodged in 2008 by the Palm Beach County State’s Attorney’s Office, Epstein pleaded guilty to prostitution-related charges involving an underage girl.

Epstein, a former friend of Presidents Donald Trump and Bill Clinton, served 13 months in jail in that case, during which he was allowed outside for hours nearly every day. The case was filed after police called for far more serious charges involving alleged sexual misconduct with underage girls to be brought against Epstein.


Company: cnbc, Activity: cnbc, Date: 2019-08-06  Authors: dan mangan kevin breuninger, dan mangan, kevin breuninger
Keywords: news, cnbc, companies, epstein, trafficking, states, case, handling, criminal, prior, sex, probe, florida, jeffrey, governor, charges, underage, orders, girls


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Dollar weakens as September rate cut bets mount

“On balance it is probably a slightly dollar-negative number because I do think that the totality of the report increases the case for a Fed rate cut in September. The U.S. central bank on Wednesday cut its short-term interest rate for the first time since 2008. Following the cut, the dollar rose in sympathy with U.S. Treasury note prices, but that move had largely been retraced on Friday. The chance of a September rate cut was 98.1% on Friday afternoon, according to CME Group’s FedWatch tool, a


“On balance it is probably a slightly dollar-negative number because I do think that the totality of the report increases the case for a Fed rate cut in September. The U.S. central bank on Wednesday cut its short-term interest rate for the first time since 2008. Following the cut, the dollar rose in sympathy with U.S. Treasury note prices, but that move had largely been retraced on Friday. The chance of a September rate cut was 98.1% on Friday afternoon, according to CME Group’s FedWatch tool, a
Dollar weakens as September rate cut bets mount Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-02
Keywords: news, cnbc, companies, rate, dollar, cut, think, powell, weakens, bets, prior, yen, report, monetary, mount, markets


Dollar weakens as September rate cut bets mount

The dollar fell broadly on Friday as news of slower U.S. employment growth in July and heightened U.S.-China trade tensions fueled expectations that the Federal Reserve would cut interest rates again in September.

Nonfarm payrolls increased by 164,000 jobs in July, fewer than the month prior, and wages increased modestly, the Labor Department said. The report came a day after U.S. President Donald Trump announced an additional 10% tariff on $300 billion worth of Chinese imports starting Sept. 1, leading financial markets to almost fully price in a September rate cut.

The dollar fell 0.76% against the Japanese yen to its lowest since Jan. 3, last at 106.50. Versus the euro it was 0.22% weaker at $1.1109. The Swiss franc, which like the yen serves as a safe-haven investment in times of market volatility, was 0.83% stronger to 0.9818 franc per dollar.

“On balance it is probably a slightly dollar-negative number because I do think that the totality of the report increases the case for a Fed rate cut in September. We’re already at the point where we’re trading that,” said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York.

The U.S. central bank on Wednesday cut its short-term interest rate for the first time since 2008. Fed Chair Jerome Powell described the widely anticipated 25-basis-point monetary policy easing as a mid-cycle policy adjustment to protect U.S. expansion from the global economic slowdown happening outside its borders.

Following the cut, the dollar rose in sympathy with U.S. Treasury note prices, but that move had largely been retraced on Friday.

The chance of a September rate cut was 98.1% on Friday afternoon, according to CME Group’s FedWatch tool, a large jump from 56.2% a week prior. Not all market participants were persuaded.

“We think that’s way too high. Clearly what (Powell) wanted to convey at the press conference was that there’s no certainty about what the next move is going to be,” said Gershon Distenfeld, co-head of fixed income at AllianceBernstein.

“The reality is that if the intention was to ease monetary conditions, this did exactly the opposite. Equities are down, the curve is flatter, the dollar higher – all monetary tightening conditions here in the U.S. So they didn’t really accomplish much except getting markets nervous.”


Company: cnbc, Activity: cnbc, Date: 2019-08-02
Keywords: news, cnbc, companies, rate, dollar, cut, think, powell, weakens, bets, prior, yen, report, monetary, mount, markets


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Nadler, Harris to introduce bill decriminalizing pot, expunge prior marijuana convictions

In focusing on both decriminalization and social and criminal justice reforms, supporters call the bill the “most comprehensive” bill yet. Ten national organizations, including the American Civil Liberties Union, formed the Marijuana Justice Coalition earlier this month to advocate for criminal justice reform and diversity promotion in cannabis legislation. Nadler and Harris’ bill uses cannabis tax revenue to set up three funds to help people in communities that have been harmed in the War on Dr


In focusing on both decriminalization and social and criminal justice reforms, supporters call the bill the “most comprehensive” bill yet. Ten national organizations, including the American Civil Liberties Union, formed the Marijuana Justice Coalition earlier this month to advocate for criminal justice reform and diversity promotion in cannabis legislation. Nadler and Harris’ bill uses cannabis tax revenue to set up three funds to help people in communities that have been harmed in the War on Dr
Nadler, Harris to introduce bill decriminalizing pot, expunge prior marijuana convictions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: angelica lavito
Keywords: news, cnbc, companies, introduce, legislation, act, prior, cannabis, bill, house, states, justice, expunge, convictions, harris, senate, marijuana, decriminalizing, nadler, pot


Nadler, Harris to introduce bill decriminalizing pot, expunge prior marijuana convictions

House Judiciary Committee Chairman Jerry Nadler and Democratic presidential hopeful Sen. Kamala Harris are introducing legislation to decriminalize marijuana at the federal level and repair “the damage done by the war on drugs” as cannabis reform gains steam in Congress.

Called the Marijuana Opportunity Reinvestment and Expungement Act, or the MORE Act, the bill would remove marijuana from the Controlled Substances Act, decriminalizing the drug and allowing states to write their own policies. The legislation would require prior pot convictions to be expunged or re-sentenced.

It would also creates federal protections, such as prohibiting federal agencies from denying benefits to people found using marijuana and preventing immigrants from being deported for a marijuana-related conviction. The bill establishes a 5% cannabis tax to set up grants for minorities and low-income communities.

“Racially motivated enforcement of marijuana laws has disproportionately impacted communities of color,” Nadler, D-N.Y., said in a statement. “It’s past time to right this wrong nationwide and work to view marijuana use as an issue of personal choice and public health, not criminal behavior.”

In focusing on both decriminalization and social and criminal justice reforms, supporters call the bill the “most comprehensive” bill yet. Lawmaker are increasingly interested in reforming the nation’s marijuana laws. Eleven states have already legalized recreational use. A Gallup poll conducted in the spring found 64% of Americans support legalization.

The House Judiciary Subcommittee on Crime, Terrorism and Homeland Security earlier this month held a “historic” hearing, with numerous members of Congress saying they wanted to loosen federal laws. The Senate Committee on Banking, Housing and Urban Affairs will hold a hearing Tuesday on challenges the cannabis industry faces in getting financial services.

“Times have changed — marijuana should not be a crime,” Harris said in a statement.

A handuful of cannabis bills have been introduced over the past year from Democrats running for president, including Sen. Cory Booker’s Marijuana Justice Act and Sen. Elizabeth Warren’s Strengthening the Tenth Amendment Through Entrusting States Act, or STATES Act.

“This is the most comprehensive and functional legislation put forth,” Justin Strekal, political director of the National Organization for the Reform of Marijuana Laws, said of Nadler and Harris’ new bill.

Ten national organizations, including the American Civil Liberties Union, formed the Marijuana Justice Coalition earlier this month to advocate for criminal justice reform and diversity promotion in cannabis legislation. While legalizing marijuana can be a huge economic boon, critics say minorities are being left out.

“We think it’s deeply unfair that now people are making so much money and so much wealth being created from regulated marijuana markets when historically people of color and low-income people have bore the brunt of drug enforcement policy in this country,” said Maritza Perez, a senior policy analyst for criminal justice reform at the Center for American Progress, which backs the bill.

Nadler and Harris’ bill uses cannabis tax revenue to set up three funds to help people in communities that have been harmed in the War on Drugs. The community reinvestment grant would provide job training, legal aid and other social programs. The bill calls to create a Cannabis Justice Officer to administer the money.

The cannabis opportunity grant would offer loans to help marijuana businesses that are owned and operated by “socially and economically disadvantaged individuals.” The equitable licensing grant would help states develop “equitable cannabis licensing programs” to minimize barriers to entry.

Wanda James, the first African-American woman to open a dispensary in Colorado, said the provisions in the bill addresses “the core of what needs to change.” She applauds provisions that prohibits regulators from denying cannabis licenses based on cannabis convictions. James said she had to fire her brother from her first dispensary because at the time, Colorado prevented anyone who had non-violent drug offenses to work in the cannabis industry.

“We started to see communities targeted for drug offenses and purposely being left out of the ability to be part of the business community of cannabis,” she said.

Nadler plans to introduce the bill in the House and Harris, D-Calif., plans to introduce the bill in the Senate on Tuesday. Nadler’s backing gives the legislation a powerful ally in the House. He chairs the House Judiciary Committee, which would need to clear legislation decriminalizing marijuana.

But even if the bill passes the Democratically controlled House, the MORE Act will likely have a tougher time in the Republican-controlled Senate. While Senate Majority Leader Mitch McConnell championed legalizing hemp-derived cannabidiol, he has opposed marijuana.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: angelica lavito
Keywords: news, cnbc, companies, introduce, legislation, act, prior, cannabis, bill, house, states, justice, expunge, convictions, harris, senate, marijuana, decriminalizing, nadler, pot


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Levi Strauss swings to profit in its first earnings release since IPO

Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month. Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years. Blue jeans giant Levi Strauss & Co. began tra


Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month. Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years. Blue jeans giant Levi Strauss & Co. began tra
Levi Strauss swings to profit in its first earnings release since IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: maggie fitzgerald, lucas jackson
Keywords: news, cnbc, companies, share, york, profit, prior, went, earnings, stock, public, rose, ipo, swings, levi, strauss, release, trading


Levi Strauss swings to profit in its first earnings release since IPO

Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month.

For the first quarter, Levi said it swung to earnings of $146.6 million, or 37 cents per share, from a loss of $19 million or 5 cents a share, a year ago. The year ago period included a tax-related charge.

Revenue rose 7% to $1.44 billion from the prior period. It was up 11% on a constant currency basis.

There weren’t any estimates from Wall Street analysts for this quarter.

“Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off,” said Chip Bergh, its president and CEO in a press release.

Levi reiterated its previous forecast, saying it expects revenue for the full year to rise by a mid-single digit percentage rate.

Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years.

Blue jeans giant Levi Strauss & Co. began trading at $22.22 a share, after having priced its initial public offering at $17 a share the night prior. The stock surged more than 30% on its first day of trading.

Levi closed at $21.88 on Tuesday. The stock is up more than 25 percent since its first day of trading on the New York Stock Exchange.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: maggie fitzgerald, lucas jackson
Keywords: news, cnbc, companies, share, york, profit, prior, went, earnings, stock, public, rose, ipo, swings, levi, strauss, release, trading


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Tesla analyst cuts Model 3 forecast, now sees bear market in stock ahead

“Overall, for 2019 we now forecast about 261,000 Model 3 [deliveries], down from 268,000 prior. “Regionally, we assume 21,000 units in Europe, 6,000 to 7,000 in China and the remainder in North America,” Spak wrote. The analyst cited recent price cuts to its popular Model 3 as evidence both of diminished demand and in reducing his earnings outlook. Of particular angst to some stakeholders, Tesla explained that moving sales online will allow the Model 3 to sell at the long-awaited base model pric


“Overall, for 2019 we now forecast about 261,000 Model 3 [deliveries], down from 268,000 prior. “Regionally, we assume 21,000 units in Europe, 6,000 to 7,000 in China and the remainder in North America,” Spak wrote. The analyst cited recent price cuts to its popular Model 3 as evidence both of diminished demand and in reducing his earnings outlook. Of particular angst to some stakeholders, Tesla explained that moving sales online will allow the Model 3 to sell at the long-awaited base model pric
Tesla analyst cuts Model 3 forecast, now sees bear market in stock ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: thomas franck, dursun aydemir, anadolu agency, getty images
Keywords: news, cnbc, companies, analyst, 2019, bear, spak, prior, wrote, price, believe, forecast, ahead, demand, sees, cuts, market, model, stock, tesla


Tesla analyst cuts Model 3 forecast, now sees bear market in stock ahead

Lackluster demand and overseas Model 3 delivery problems will weigh on Tesla’s first-quarter earnings results when the company reports in April, RBC Capital Markets warned clients Monday.

The brokerage cut its first-quarter Model 3 delivery forecast to 52,500 from 57,000 and slashed its price target to $210 from $245, a 14 percent reduction that implies more than 20 percent downside over the next year.

“We see both 2019 and 2020 revenue as down vs. the 4Q18 run-rate and, given Tesla is priced for growth, believe the valuation will come in,” analyst Joseph Spak wrote in a note to clients. “Overall, for 2019 we now forecast about 261,000 Model 3 [deliveries], down from 268,000 prior. Our 2020 forecast of 347,500 remains unchanged.”

Spak, who has an underperform rating on Tesla shares, predicts the electric car maker will post an adjusted loss of 64 cents per share, down from a prior estimate of a profit of 68 cents per share.

“Regionally, we assume 21,000 units in Europe, 6,000 to 7,000 in China and the remainder in North America,” Spak wrote. “In China, some deliveries were delayed because of a customs issue.”

The analyst cited recent price cuts to its popular Model 3 as evidence both of diminished demand and in reducing his earnings outlook.

“Our 2019 Model 3 average selling price is now $53,600, down from $55,500 prior – still stronger in the first half as Tesla fulfills higher-end demand internationally before lower priced models (which carry lower gross margin) kick in,” Spak said.

Chief executive officer Elon Musk surprised some investors last month after he said Tesla will only sell cars online and that drivers will have up to a week to return their vehicles if they aren’t satisfied. Of particular angst to some stakeholders, Tesla explained that moving sales online will allow the Model 3 to sell at the long-awaited base model price of $35,000.

However, Musk tweeted on Sunday that

“The larger part of potential demand for Tesla products is at a price point that we do not believe Tesla can be profitable,” he added. “The company has begun to offer some of these price points, but we believe they will be dilutive to margins.”

Tesla shares fell 2.1 percent in premarket trading Monday following the RBC note. The stock is already down 30 percent from it’s recent 52-week high and 20 percent in 2019 alone.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: thomas franck, dursun aydemir, anadolu agency, getty images
Keywords: news, cnbc, companies, analyst, 2019, bear, spak, prior, wrote, price, believe, forecast, ahead, demand, sees, cuts, market, model, stock, tesla


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Defense stocks rise despite lukewarm earnings, JP Morgan says the sector is ‘finding its footing’

Defense stocks have delivered stronger performance despite beating earnings expectations by a smaller margin this reporting season compared to prior quarters, and it’s making J.P. Morgan believe the sector is “finding its footing.”


Defense stocks have delivered stronger performance despite beating earnings expectations by a smaller margin this reporting season compared to prior quarters, and it’s making J.P. Morgan believe the sector is “finding its footing.”
Defense stocks rise despite lukewarm earnings, JP Morgan says the sector is ‘finding its footing’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: yun li, drew angerer, getty images, david paul morris, bloomberg, patrick t fallon, tom strickland, scott mlyn, chip chipman, victor j blue
Keywords: news, cnbc, companies, earnings, lukewarm, jp, reporting, season, finding, despite, prior, stocks, stronger, smaller, performance, sector, morgan, rise, quarters, footing


Defense stocks rise despite lukewarm earnings, JP Morgan says the sector is 'finding its footing'

Defense stocks have delivered stronger performance despite beating earnings expectations by a smaller margin this reporting season compared to prior quarters, and it’s making J.P. Morgan believe the sector is “finding its footing.”


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: yun li, drew angerer, getty images, david paul morris, bloomberg, patrick t fallon, tom strickland, scott mlyn, chip chipman, victor j blue
Keywords: news, cnbc, companies, earnings, lukewarm, jp, reporting, season, finding, despite, prior, stocks, stronger, smaller, performance, sector, morgan, rise, quarters, footing


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Federal employees who take unemployment benefits during the shutdown will have to pay them back

As the government shutdown continues and federal workers face the possibility of another missed paycheck, many may file for unemployment benefits to help cover housing costs, groceries and other necessities. Earlier in January, CNBC reported that more than 4,700 federal employees filed for unemployment in the last week of December, compared with 929 the week prior, according to the Department of Labor. But this modest relief comes with a few strings.


As the government shutdown continues and federal workers face the possibility of another missed paycheck, many may file for unemployment benefits to help cover housing costs, groceries and other necessities. Earlier in January, CNBC reported that more than 4,700 federal employees filed for unemployment in the last week of December, compared with 929 the week prior, according to the Department of Labor. But this modest relief comes with a few strings.
Federal employees who take unemployment benefits during the shutdown will have to pay them back Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: kerri anne renzulli, george frey
Keywords: news, cnbc, companies, strings, relief, employees, unemployment, pay, week, workers, federal, shutdown, reported, benefits, prior, possibility


Federal employees who take unemployment benefits during the shutdown will have to pay them back

As the government shutdown continues and federal workers face the possibility of another missed paycheck, many may file for unemployment benefits to help cover housing costs, groceries and other necessities.

Earlier in January, CNBC reported that more than 4,700 federal employees filed for unemployment in the last week of December, compared with 929 the week prior, according to the Department of Labor.

But this modest relief comes with a few strings.


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: kerri anne renzulli, george frey
Keywords: news, cnbc, companies, strings, relief, employees, unemployment, pay, week, workers, federal, shutdown, reported, benefits, prior, possibility


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Aurora Cannabis’ earnings surge by 2,800% after it produces 11,000 pounds of pot in 3 months

Aurora Cannabis said revenue jumped 260 percent over the last 12 months, with kilograms produced climbing to 4,996 — more than 11,000 pounds of cannabis — from 1,010 over the past year. The increase in gross margin was primarily driven by a higher average selling price per gram of dried cannabis, coupled with a higher proportion of cannabis oil sales. The company saw its average price per gram (including both bud and oil) inch slightly lower to CA$9.19, down from CA$9.20 in the prior quarter. It


Aurora Cannabis said revenue jumped 260 percent over the last 12 months, with kilograms produced climbing to 4,996 — more than 11,000 pounds of cannabis — from 1,010 over the past year. The increase in gross margin was primarily driven by a higher average selling price per gram of dried cannabis, coupled with a higher proportion of cannabis oil sales. The company saw its average price per gram (including both bud and oil) inch slightly lower to CA$9.19, down from CA$9.20 in the prior quarter. It
Aurora Cannabis’ earnings surge by 2,800% after it produces 11,000 pounds of pot in 3 months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: thomas franck, matthew staver, bloomberg, getty images, cole burston
Keywords: news, cnbc, companies, quarter, revenue, medreleaf, production, gram, produces, earnings, kilograms, months, cannabis, oil, surge, pounds, prior, 2800, 11000, pot, aurora


Aurora Cannabis' earnings surge by 2,800% after it produces 11,000 pounds of pot in 3 months

Aurora Cannabis said revenue jumped 260 percent over the last 12 months, with kilograms produced climbing to 4,996 — more than 11,000 pounds of cannabis — from 1,010 over the past year. That’s up nearly 400 percent.

Earnings attributable to common shareholder surged 2,862 percent to CA$104.2 million, while total revenue was CA$29.7 million.

The Canadian-traded Aurora shares rose slightly on Monday and have doubled in the last one year. U.S- traded shares of Aurora, which launched on the New York Stock Exchange on Oct. 23, lost 3.8 percent.

The company said its gross margin on cannabis rose 12 percent compared with the first quarter of 2019 and is now at 70 percent. The increase in gross margin was primarily driven by a higher average selling price per gram of dried cannabis, coupled with a higher proportion of cannabis oil sales.

Cash cost to produce per gram of dried cannabis sold decreased 22.5 percent year over year and fell 14.7 percent from the prior quarter thanks to more efficient production implemented at one of the company’s subsidiaries.

With the Canadian Cannabis Act in effect as of Oct. 17, 2018, Aurora completed its first shipments to Canadian provincial wholesalers of the adult-use market just prior to the end of the current quarter and recorded $0.6 million in adult-use cannabis sales.

“We continue to successfully execute our differentiated and diversified strategy committed towards domestic and international expansion in the medical cannabis market, adult consumer use sales, production scale-up, innovation, plant and medical research, and product development,” said Terry Booth, CEO of Aurora. “Given the strong unmet consumer demand evident across Canada, we are confident that our rapidly increasing production capacity will result in continued acceleration of revenue growth.”

The company saw its average price per gram (including both bud and oil) inch slightly lower to CA$9.19, down from CA$9.20 in the prior quarter. It sold 2,676 kilograms of cannabis — roughly 5,900 pounds — in the quarter, up 201 percent from this time last year.

Aside from the raw financial numbers, Aurora highlighted the launch of Aurora Cloud in the first fiscal quarter of 2019, making it the first licensed producer supplying a vape-ready CBD oil cartridge to the market.

It also underscored the completed acquisition of MedReleaf, a research-and-development-heavy company devoted to developing top-quality cannabis.

The addition of MedReleaf beefs up Aurora’s total funded capacity to more than 500,000 kilograms per year. Combined with MedReleaf, Aurora now has two production facilities certified by the European Union’s good manufacturing practice, or GMP, a regulatory requirement for medicine manufacturers.

The company’s earnings call is set for 10:30 a.m. ET.

WATCH: Six experts on whether the cannabis craze is a boom or bust


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: thomas franck, matthew staver, bloomberg, getty images, cole burston
Keywords: news, cnbc, companies, quarter, revenue, medreleaf, production, gram, produces, earnings, kilograms, months, cannabis, oil, surge, pounds, prior, 2800, 11000, pot, aurora


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