March 19, 2019

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Dow set to drop, China data disappoints, Trump to meet about shutdown

Dow set to drop, China data disappoints, Trump to meet about shutdown
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Activision Blizzard (ATVI) is firing Chief Financial Officer Spencer Neumann for cause “unrelated to the company’s financial reporting”, according to an SEC filing. The Wall Street Journal reports that Neumann will be named as the new Netflix (NFLX) CFO as early as this week, quoting a personal familiar with the matter.

Alphabet’s (GOOGL) Google unit has won FCC approval for its new radar-based motion sensing device. Google was granted a waiver to operate the sensors at a higher power than is currently allowed under FCC rules.

Hertz Global (HTZ) agreed to pay a $16 million fine to settle an accounting case, according to an SEC filing. The car rental company had been accused of materially misstating pretax income due to accounting errors, although Hertz did not admit or deny the accusations in agreeing to the settlement.

Nokia (NOK) and Ericsson (ERIC) have struggled to capitalize on the issues facing Chinese telecommunications rival Huawei, according to a story in today’s Wall Street Journal. European wireless providers tell the paper that the two companies have been slow to release telecommunications equipment that is as advanced as Huawei’s offerings.

Tesla (TSLA) had over 3,000 Model 3 automobiles in inventory as of Sunday, according to the automotive news website Electrek.

Bausch Health (BHC) was upgraded to “overweight” from “neutral” at Piper Jaffray, which said the drug maker is exhibiting earnings stability as well as the potential for long term growth. Bausch is the company formerly known as Valeant Pharmaceuticals.

Wells Fargo (WFC) was upgraded to “sector perform” from “underperform” at RBC Capital Markets, which cited valuation. The bank’s shares fell about 25 percent in 2018.



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