Rabu, 26 Februari 2020

Tesla and Panasonic will no longer work together on solar cells - Engadget

Panasonic will stop building solar cells at Tesla's New York Gigafactory 2 plant, the company revealed in a press release. That means Panasonic won't be working on Telsa's latest Solar Roof tiles, though it won't impact their Tesla EV battery partnership. Still, it's not a great sign for the two companies, especially considering that Tesla might start building its own EV batteries.

Panasonic said that the decision stems from a "broader streamlining of its global solar operations," and won't impact Tesla's future solar growth business plans. It added that "Tesla plans to hire qualified applicants to new positions needed to support its solar and energy manufacturing operations in Buffalo."

Tesla received state support from New York for the Gigafactory project in the form of grants totaling around $750 million. In return, it's required to spend $5 billion in the state over a decade and employ 1,460 workers in Buffalo. Failure to do so would result in a $41 million fine against the company. However, Tesla told New York that the Panasonic split "has no bearing on Tesla's current operations," according to a statement it gave to Reuters.

This decision will have no impact on Panasonic and Tesla's strong partnership in Nevada. The two companies will continue their industry-leading electric vehicle battery work taking place at Tesla's Gigafactory outside of Reno, Nevada.

While Tesla's EV division is doing well after a "production hell" period, the company has struggled with its solar power company. Employees recently reported production line problems with the cells and tensions with Panasonic, causing delays to both regular solar panels and Tesla's Solar Roof. Elon Musk's exacting standards for the design of the Solar Roof tiles has also caused friction between the companies, according to an earlier Reuters report.

For its latest Solar Roof (designed to generate electricity while looking like a regular slate roof), Tesla has been using Chinese-built solar cells rather than Panasonic's cells. Panasonic, meanwhile, has reportedly been selling its photovoltaic cells, originally intended for Tesla, to other third-party companies in Japan and elsewhere.

Panasonic will continue to market solar cells under its own brand name, while helping Tesla recruit current and new employees. It also tried to water down any concerns about the EV battery partnership. "This decision will have no impact on Panasonic and Tesla's strong partnership in Nevada," Panasonic said in the press release. "The two companies will continue their industry-leading electric vehicle battery work taking place at Tesla's Gigafactory outside of Reno, Nevada."

Source: Panasonic

Coverage: Reuters, Nikkei

In this article: gear, Gigafactory 2, green, New York, Panasonic, photovoltaic, solar cell, Solar Roof, Tesla

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

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2020-02-26 12:01:36Z
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BTS rides with James Corden for 'Carpool Karaoke' - CNN

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc.2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates.

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2020-02-26 10:18:27Z
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Dow's Slump, Coronavirus Warnings, Bob Iger, Salesforce, Tesla - 5 Things You Must Know Wednesday - TheStreet

Dow's Slump, Coronavirus Warnings, Bob Iger, Salesforce, Tesla - 5 Things You Must Know Wednesday

Stock futures turn higher after the worst four-day selloff on Wall Street since December 2018; health officials are warning the coronavirus likely will spread to the United States; Bog Iger steps down as CEO of Walt Disney; Salesforce co-CEO Keith Block will depart.

Author:: Joseph Woelfel
Updated:: Feb 26, 2020 6:54 AM EST
Original:: Feb 26, 2020

Here are five things you must know for Wednesday, Feb. 26:

1. -- Stock Futures Turn Higher

Stock futures turned higher Wednesday following the worst four-day selloff on Wall Street since December 2018 after warnings from health officials that the coronavirus likely will spread to the United States.

Contracts tied to the Dow Jones Industrial Average rose 35 points, S&P 500 futures were up 9.40 points and Nasdaq futures gained 41.50 17 points.

The S&P 500 has lost 7.6% in the last four days after hitting a record high a week ago. The declines have led to $2.14 trillion in losses, according to S&P Global.

The Centers for Disease Control and Prevention said Tuesday that Americans should be prepared for the disease to spread in the United States.

“It’s not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen - and how many people in this country will have severe illness,” said Dr. Nancy Messonnier of the CDC in a call with reporters.

The advice followed similar warnings from the World Health Organization, which urged countries to step up their defense systems as the number of global infections rose past 81,000 and the death toll reached 2,762 - including more than 50 outside of China, where the virus was first identified in late 2019.

2. -- Lowe's, Square, Box and Moderna Report Earnings

Earnings reports are expected Wednesday from Lowe's (LOW) - Get Report, TJX Cos. (TJX) - Get Report, Square (SQ) - Get Report, Box (BOX) - Get Report, Booking Holdings (BKNG) - Get Report, Wendy's (WEN) - Get Report, L Brands (LB) - Get Report, AMC Networks (AMCX) - Get Report, Moderna (MRNA) - Get Report, Marriott International (MAR) - Get Report and Etsy (ETSY) - Get Report.

The economic calendar in the U.S. Wednesday include New Home Sales for January at 10 a.m. ET and Oil Inventories for the week ended Feb. 21 at 10:30 a.m.

3. -- Disney CEO Bob Iger Steps Down in Surprise Announcement

Walt Disney (DIS) - Get Report CEO Bog Iger stepped down Tuesday and Bob Chapek, who has led Disney Parks, Experiences and Products since 2018, was named as Iger’s successor.

Iger, who last year said he planned to resign in 2021, becomes executive chairman of Disney and will “direct the company’s creative endeavors,” the media and entertainment giant said.

“The company has gotten larger and more complex,” Iger said during a conference call with analysts. “I should be spending as much time as possible on the creative side of our businesses.”

As for the decision to choose Chapek, Susan Arnold, independent lead director on the board, said the directors have been "actively engaged in succession planning for the past several years, and after consideration of internal and external candidates, we unanimously elected" Chapek as CEO.

Iger's announcement caught many inside and outside of Disney by surprise.

“No one knew this was coming,” one senior Disney executive told The Wall Street Journal.

Walt Disney is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells DIS? Learn more now.

4. -- Salesforce Slumps on Co-CEO Block's Departure

Salesforce.com (CRM) - Get Report was falling 3.18% to $175.50 in premarket trading Wednesday after announcing that co-CEO Keith Block was stepping down.

Remaining chief Marc Benioff worked to assure investors that Salesforce's leadership remained strong despite Block's departure.

The announcement that Block was leaving the company - he assumed the co-CEO post alongside Benioff in August 2018 - came as a surprise given that many observers of Salesforce viewed him as a successor to Benioff, who co-founded the company 21 years ago.

On a call with shareholders, Benioff said that Block’s departure wouldn't cause any interruption in the company’s business execution this year. Block will remain as an adviser to Benioff, the company said in a press release.

“When you look at our total management team that Keith and I have built ... I think it is the finest management team in the software industry and maybe any industry,” said Benioff.

"As for the stock, while Block's departure may raise questions about keyman risk at the company, we note the bench is deep with COO Bret Taylor and Adam Selipsky, chief of Tableau, which CRM recently bought," said Jim Cramer and the Action Alerts PLUS team, which owns Salesforce in its portfolio.

In its fourth-quarter earnings report, which was released alongside the news of Block’s departure, Salesforce posted better-than-expected revenue and raised its first-quarter sales guidance. It also announced that it acquired Vlocity for $1.33 billion.

5. -- Tesla and Panasonic End Solar Cell Partnership

Tesla (TSLA) - Get Report and Japanese electronics maker Panasonic have ended their partnership to produce solar cells after years of struggling to ramp up output at the Gigafactory 2 in upstate New York, the Nikkei Asian Review reported.

Tesla reportedly has been using solar cells from other manufacturers in its solar roof tiles.

The companies formed a joint venture to manufacture solar cells at the plant in Buffalo, New York, in 2016.

Tesla and Panasonic plan to continue working together on automotive batteries for Tesla’s electric vehicles, the Nikkei reported.

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2020-02-26 10:12:36Z
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Colbert remixes Sanders' debate line with '90s rap - CNN

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2020-02-26 09:39:54Z
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Selasa, 25 Februari 2020

Consumer confidence rises less than expected in February - CNBC

Consumer confidence rose less than expected in February as people's assessment of current conditions wavered, data released Tuesday by The Conference Board showed.

The consumer confidence index came in at 130.7, up from 130.4 in January. Economists polled by Dow Jones expected a print of 132.6. The Conference Board's present situation index, which accounts for consumers' assessment of the current business and labor environment, dropped to 165.1 from 173.9 in January.

The confidence index's weaker-than-forecast print comes a day after the stock market had its worst day in two years, with the Dow Jones Industrial Average falling more than 1,000 points, amid concerns over the coronavirus' impact on the global economy.

"Despite the decline in the Present Situation Index, consumers continue to view current conditions quite favorably," said Lynn Franco, senior director of economic indicators at The Conference Board, in a statement. "Consumers' short-term expectations improved, and when coupled with solid employment growth, should be enough to continue to support spending and economic growth in the near term."

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

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2020-02-25 15:00:00Z
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Jif peanut butter teams up with Giphy to settle the GIF/Jif debate once and for all - The Verge

In another twist in the long-running debate about how to pronounce “GIF,” Jif peanut butter wants to make the case that it owns the soft “g” pronunciation while GIF should be said with a hard “g.”

The J.M. Smucker Company, which makes Jif, has teamed up with Giphy to release a special jar of Jif peanut butter that replaces the classic Jif branding on the label with “Gif.” The idea seems to be that the special edition jar should be placed next to a normal jar of Jif, like it is in the picture at the top of this post, to prove that there’s an obvious difference in how each word should be said.

This pronunciation has been a long and dumb internet debate. Facebook poked the beast in 2017 with a poll about the correct pronunciation, and even Hillary Clinton has weighed in: during the 2016 presidential election, she said GIF with a hard “g” while speaking at a fundraiser.

Personally, I agree that GIF should be said with a hard “g.” GIF stands for “Graphics Interchange Format,” and “graphics” has a hard “g” sound, so that should translate to the GIF acronym.

Regardless of what I, The J.M. Smucker Company, Giphy, or Hillary Clinton, think, though, we’re all technically wrong in the eyes of the creator of the GIF, Steve Wilhite. He declared in 2013 that the acronym “GIF” should be pronounced “Jif.”

But if you are a hard “g” stan or you really just want some peanut butter with a special label, you can buy one of those special edition jars of Jif on Amazon.

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2020-02-25 14:00:00Z
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Stock market news live: Stocks rebound as investors struggle to overcome coronavirus fears - Yahoo Finance

World markets took a beating on Monday, as the rising number of coronavirus cases outside of China sent investors into a selling frenzy. Both South Korea and Italy have seen a spike in infections, raising the possibility that the mystery virus could be mutating into a pandemic.

—

9:30 a.m. ET: Stocks open higher, snap a 3-day losing streak

U.S. stocks rose across the major indices and snapped a three-day losing streak following a brutal trading session Monday when the Dow plummeted 1,031.61 points. It was the worst day for the S&P 500 and Dow in two years and only the third time in history when the Dow logged a loss of more than 1,000 points. The other two instances occurred on Feb. 5 and Feb. 8, 2018.

Here were the main market moves, as of 9:30 a.m. ET:

S&P 500 (^GSPC): +0.58%, or up 18.63 points to 3,244.52
Dow (^DJI): +0.60%, or up 166.77 points to 28,127.57
Nasdaq (^IXIC): +0.93%, or up 85.65 points to 9,306.93
Crude oil (CL=F): -0.19%, or down $0.10 to $51.33 a barrel
Gold (GC=F): -1.59%, or down $26.70 to $1,649.90 per ounce

—

7:30 a.m. ET: Stock futures rally after ugly Monday; HD beats

U.S. stock futures posted early gains, shaking off weakness in Asia and Europe, as investors become increasingly jittery about the possibility that the coronavirus is becoming a worldwide pandemic.

Here’s were the main moves during the pre-market session, as of 7:30 a.m. ET:

S&P 500 futures (ES=F): 3,234.25, up 8 points or 0.25%
Dow futures (YM=F): 28,037.00, up 69.00 points or +0.25%
Nasdaq futures (NQ=F): 9,137.50, up 46.50 points or 0.51%
Crude oil (CL=F): 51.29, down 0.14 points or -0.27%
Gold (GC=F): 1,648.90, down $27.70 points or -1.65%

Traders momentarily took comfort in a strong quarterly earnings report from Home Depot (HD), a consumer bellwether and a Dow (^DJI) component.

Stocks are coming off their worst day in 2 years — a rout that saw $1.7 trillion in market capitalization evaporate in a single trading session, according to veteran analyst Howard Silverblatt. On Wednesday, the Nasdaq and S&P set record highs — but since then have hemorrhaged $2.44 trillion in value, according to Silverblatt.

An unexpected surge in confirmed infections in Italy and South Korea — which now has the largest cluster of cases outside of China — is sparking widespread fear and undermining the sense of calm the World Health Organization has strived to project. On Monday, the agency said the virus was “not yet” a pandemic, but could become one.

—

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2020-02-25 14:33:00Z
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