Market News

Tesla Begins to Deliver Model 3 on ‘First-Come, First-Served’ Basis; Promotes Guillen to President of Automotive

Tesla Begins to Deliver Model 3 on ‘First-Come, First-Served’ Basis; Promotes Guillen to President of Automotive

Tesla (TSLA) will begin delivering Model 3 automobiles “immediately” on a “first come, first served” basis to reservation holders who have yet to place an order for a specific car. According to Electrek, these are mainly consumers waiting for the base $35,000 model with the standard battery pack. Tesla notified reservation holders through an email that “as a first day […]

Labor Productivity Rises 2.9% in Second Quarter, Biggest Gain in More Than Three Years

Labor Productivity Rises 2.9% in Second Quarter, Biggest Gain in More Than Three Years

Labor productivity in the US increased 2.9% in the three months that ended on June 30, the biggest gain since the first quarter of 2015, the Bureau of Labor Statistics said in a report on Thursday. Analysts had expected productivity gains of 3%. Output increased 5% and hours worked rose 2%. Year-over-year, productivity in the second quarter rose 1.3%, reflecting […]

Dow Higher in Early Trading on Jobs Reports, Nasdaq Lower as Tech Companies Tank

Dow Higher in Early Trading on Jobs Reports, Nasdaq Lower as Tech Companies Tank

The Dow Jones Industrial Average was higher in early trading after strong labor reports while the Nasdaq fell on declines at Facebook and Amazon. Initial jobless claims in the US were near a 49-year low of 203,000 in the week that ended on Sept. 1, down 10,000 from seven days earlier and beating consensus from Econoday for 213,000, the Labor […]

Wall Street Loses Traction as Tech Sector Continues to Correct

Wall Street Loses Traction as Tech Sector Continues to Correct

Selling pressure on tech stocks continued to plague Wall Street Thursday with the major averages all surrendering early gains to trade lower. Wednesday’s Congressional testimony by tech executives Sheryl Sandberg and Jack Dorsey continued to weigh on the sector amid concerns that Washington will enact regulations to restrain the social media industry. Coupled with persistent fears of a protracted trade […]

bluebird bio Says Phase 2/3 Starbeam Study Meets Enrollment Goal

bluebird bio Says Phase 2/3 Starbeam Study Meets Enrollment Goal

bluebird bio (BLUE) reported Wednesday that its phase 2/3 Starbeam study of its investigational Lenti-D gene therapy in boys 17 years of age and under with cerebral adrenoleukodystrophy (CALD), has met its enrollment goal; it also reported initial data from ALD-103, the ongoing observational study of outcomes from allogeneic hematopoietic stem cell transplant (allo-HSCT) in boys 17 years of age […]

Albemarle Is Reportedly Interested in Acquiring FMC’s Lithium Business

Albemarle Is Reportedly Interested in Acquiring FMC’s Lithium Business

Albemarle (ALB) may want to acquire FMC’s (FMC) Livent lithium unit if the unit’s initial public offering scheduled this fall does not go through, Reuters reported, citing an unidentified source familiar with the matter. Albemarle executive Eric Norris, who leads the mining company’s global lithium business, told investors at a private June dinner in Las Vegas that a successful Livent […]

Inovio Pharmaceuticals Doses First Patient in MERS Vaccine Trial

Inovio Pharmaceuticals Doses First Patient in MERS Vaccine Trial

Inovio Pharmaceuticals (INO), a developer of DNA immunotherapies, Wednesday reported dosing of the first subject with its vaccine to prevent the deadly Middle East Respiratory Syndrome, or MERS virus, in a phase 1/2a study. Inovio said the trial is ongoing in South Korea sponsored by its Korean development partner for its MERS vaccine, the publicly held GeneOne Life Science. The […]