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Tesla smashes market estimates in Q3; General Motors reveals EV plans
October 23, 2020 03:43 AM EDT| By Team Kalkine MediaTesla, Inc. came up with another banger in the September quarter show, which was labelled as the ‘best quarter in history’ by Elon Musk. But optimists believe that best is yet to come, at least from new factories in two other continents.....
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Gilead (NASDAQ:GILD) Share Price Moves up after FDA Approves Veklury® (remdesivir)
October 23, 2020 12:59 AM EDT| By Team Kalkine MediaOn 22 October 2020, the US FDA gave the green light to Gilead’s Veklury® (remdesivir) making the antiviral drug the first officially approved treatment for COVID-19, an infection caused by the novel coronavirus, SARS-CoV-2. The shar.....
Goldman Sachs to Pay US$2 billion over Malaysia’s 1MDB scandal
October 23, 2020 12:02 AM EDT| By Team Kalkine MediaNew York’s leading global investment bank, Goldman Sachs has agreed to a much-anticipated settlement with the US Justice Department and would pay over US$2 billion for its role in Malaysia’s 1MDB scandal. It would let Goldman Sachs avoi.....
TSX Wraps Up On A High After 3 Days Of Losses
October 22, 2020 10:14 PM EDT| By Team Kalkine MediaAfter three consecutive days of losses, the broader equity gauge of the Canadian Market, S&P/TSX Composite, gained 49 points or 0.30% to settle at 16,279.36 on Thursday. At the closing bell, the TSX Composite featured a dividend yield of 3.59% an...
Rogers Communications (TSX:RCI) Reports 14% Decline In Net Income For Q3 FY20
October 22, 2020 12:51 PM EDT| By Team Kalkine MediaThe telecom firm posted a 5 per cent YoY drop in its total service revenue in its third quarter earnings ended September 30, 2020. Net income of C$ 548 million in Q3 2020 was down 14 per cent from C$ 622 million in Q3 2019. Adjusted EBITDA amount.....
Short-Video App Quibi Quits In 6 Months
October 22, 2020 12:50 PM EDT| By Team Kalkine MediaByte-video app Quibi is shutting down operations after failing to entice customers. The platform was aimed to audiences streaming content on their phones. The app raised US$1.75 billion from Disney, NBCUniversal and.....
Alberta To Slash 930 Public Service Jobs
October 22, 2020 12:49 PM EDT| By Team Kalkine MediaThe Provincial Employees said that the government is slash positions in agriculture and forestry, children's services, and community and social services. Union president Guy Smith informed that he has been told the cuts wi.....
Retails Sales In Canada Up 0.4% To C$53.2bn In August
October 22, 2020 12:48 PM EDT| By Team Kalkine MediaThe 0.4 per cent increase comes from sales of construction material, garden equipment, supplies and dealers, food, and beverage stores. Retail sales in volumes was also up 0.4 per cent, according to Statistics Canada findings. Sales at clothing st.....
WestJet (TSX:ONEX) To Issue Refunds On Cancelled Flights Due To Covid-19
October 22, 2020 12:47 PM EDT| By Team Kalkine MediaRefunds will be issued in the form of payment, instead of credits issued by airlines for future flights. Lowest priced tickets will also be offered a refund if the flight is cancelled. With this move, the company looks at reinstating the...
Cogeco (TSX:CCA) To Buy Quebec’s Derytelecom For $405mn
October 22, 2020 12:46 PM EDT| By Team Kalkine MediaThrough this acquisition, Cogeco Communications expects to add about 100,000 cable and internet customers in Quebec, as per media reports. With this transaction, its estimated about $3 million in operational savings and $40million of tax benefits .....
AstraZeneca (LON:AZN) to resume COVID-19 vaccine trial in the US ahead of elections?
October 22, 2020 06:55 AM EDT| By Team Kalkine MediaAstraZeneca’s COVID-19 clinical trials in the US are anticipated to start again as early as this week after the US Food and Drug Administration (FDA) completed its review of a serious illness, sources told Reuters. As per one of the sou.....
Purdue Pharma reaches US$8 bn settlement, Why did the OxyContin maker plead guilty?
October 22, 2020 03:38 AM EDT| By Edita IvancevicPurdue Pharma agreed to an A$11.6 billion (US$8 billion) settlement after pleading guilty for uncontrolled selling of its controversial opioid product OxyContin. The active ingredient oxycodone has caused more than 450,000 American deaths since 19.....
A look at Tesla’s Powerwall
October 22, 2020 03:21 AM EDT| By Edita IvancevicOutmost sustainability is a crucial goal for Tesla and its CEO and co-founder, Elon Musk, who never ceases with inventing new sustainable products. MUST WATCH: Why is Tesla Stock doing so well? As almost every other smart Tesla (NASDAQ:TSLA) inve.....
PayPal throws its hat in the cryptocurrency ring, Bitcoin to become ubiquitous
October 22, 2020 03:32 PM AEDT| By Team Kalkine MediaOn 21st October, PayPal (NASDAQ:PYPL) announced its entrance into the cryptocurrency market, enabling its customers to transact bitcoins and other cryptocurrencies through their PayPal accounts. This represents the company’s vision to enable .....
Netflix Subscription Tepid, Is Binge watching on the wane?
October 22, 2020 12:08 AM EDT| By Team Kalkine MediaNetflix released dismal earnings report for Q3 2020, falling short on its guidance for earnings per share. Besides, Netflix subscriber growth lowered considerably in the third quarter after its subscription skyrocketed in the first half of the year.....
TSX Loses 43 Points, Hudbay Minerals & First Quantum Top Performers
October 21, 2020 10:18 PM EDT| By Team Kalkine MediaWeighed down by industrials, technology and energy stocks, the S&P/TSX Composite Index declined by 43 points or 0.26% to close at 16,230.23 on Wednesday. Academic and educational services, healthcare and basic materials were the top gaining secto...
Social Media Stocks Rally After Snap (NYSE: SNAP) Revenue Jump
October 21, 2020 04:06 PM EDT| By Team Kalkine MediaSocial media stocks began rallying during market afterhours on Tuesday, October 20, following the release of Snap Inc’s (NYSE: SNAP) third quarter financial results, which reflected growth. Shares of other social media companies such as Faceb.....
PayPal (PYPL:US) to Soon Launch Cryptocurrency Service in US
October 21, 2020 01:46 PM EDT| By Team Kalkine MediaPaypal’s cryptocurrency service will feature Bitcoin, Ethereum, Bitcoin Cash and Litecoin, directly within the PayPal digital wallet. Customers can pay for shopping and purchases from its network of 26 million retailers usi...
CN Rail (TSX:CNR) Q3 Results Post 11% YoY Decline In Revenues
October 21, 2020 01:44 PM EDT| By Team Kalkine MediaThe revenue dropped due to decreased commodities volumes and applicable fuel surcharge rates because of the pandemic, said Canadian National Railway. Canada's largest railway, CN Rail has renounced the full-year guidance it had released wi...
TransLink CEO Kevin Desmond to Step Down in February 2021
October 21, 2020 01:03 PM EDT| By Team Kalkine MediaKevin Desmond is stepping down after nearly five years in his role as the CEO of TransLink. He quits to seek new career challenges back home in the United States. The company is on lookout for a new CEO to take over the res...
