South Korea recorded its highest increase in coronavirus cases in more than 40 days on Friday as more infections were reported at hospitals and nursing homes. A nursing home in Namyangju, east of Seoul, was put under isolation after more than 30 workers and residents tested positive. Around 120 infections have been linked to a hospital in nearby Gwangju.
Singapore home prices rose in the third quarter from the previous period as government stimulus held up demand as the economy suffers from its worst recession.
A California appeals court on Thursday upheld an order requiring Uber and Lyft to treat their California drivers as employees instead of independent contractors, less than two weeks before voters will be asked to exempt the ride-hailing giants from the state's gig economy law. Uber and Lyft — who along with DoorDash have heavily bankrolled the ballot measure — had appealed an August preliminary injunction by a San Francisco judge.
OP Bancorp (OPBK) on Thursday reported third-quarter earnings of $3.6 million. The bank, based in Los Angeles, said it had earnings of 23 cents per share. The company posted revenue of $16 million in the period.
Walmart is suing the U.S. government in a pre-emptive strike in the battle over its responsibility in the opioid abuse crisis. The government is expected to take civil action against the world's largest retailer, seeking big financial penalties, for the role its pharmacies may have played in the crisis by filling opioid prescriptions. Walmart says it is seeking a declaration from a federal judge that the government has no lawful basis for seeking civil damages from the company.
Stock futures opened higher on Thursday to extend the major indices’ earlier gains, as investors continued to eye upbeat commentary from officials around stimulus talks, and looked ahead to the final presidential debate.
Investar Holding Corp. ISTR) on Thursday reported third-quarter profit of $4.5 million. The Baton Rouge, Louisiana-based bank said it had earnings of 41 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share. The holding company for Heritage Bank of Commerce posted revenue of $38.8 million in the period.
Employers Holdings Inc. EIG) on Thursday reported third-quarter profit of $31.1 million. The Reno, Nevada-based company said it had profit of $1.05 per share.
Electric vehicle startup Lucid Motors is used to being compared to Tesla — even if its cars aren't on the road just yet. After all, when the Silicon Valley luxury EV maker recently announced its price for its upcoming entry level Air sedan, Tesla’s CEO Elon Musk promptly tweeted a price reduction to the Model S.
Provident Bancorp Inc. PVBC) on Thursday reported net income of $3.2 million in its third quarter. The bank, based in Amesbury, Massachusetts, said it had earnings of 18 cents per share.
Ranger Energy Services, Inc. RNGR) on Thursday reported a loss of $3.2 million in its third quarter. The Houston-based company said it had a loss of 38 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share. The data analytics and business services provider posted revenue of $436.7 million in the period, which missed Street forecasts.
Earlier this week, Tesla sent out its “full self-driving” software to a small group of owners who will test it on public roads. The conflicting messages have experts in the field accusing Tesla of deceptive, irresponsible marketing that could make the roads more dangerous as the system is rolled out to as many as 1 million electric vehicle drivers by the end of the year. “This is actively misleading people about the capabilities of the system, based on the information I've seen about it,” said Steven Shladover, a research engineer at the University of California, Berkeley, who has studied autonomous driving for 40 years.
The bank, based in Dallas, said it had earnings of $1.70 per share. Earnings, adjusted to account for discontinued operations, came to $1.69 per share. The results beat Wall Street expectations.
Enterprise Bancorp Inc. EBTC) on Thursday reported third-quarter earnings of $10.3 million. The bank, based in Lowell, Massachusetts, said it had earnings of 87 cents per share.
Codorus Valley Bancorp Inc. CVLY) on Thursday reported third-quarter net income of $3.6 million. The York, Pennsylvania-based bank said it had earnings of 37 cents per share.
The coronavirus pandemic has affected whether or not people seek non-COVID-related medical care.
Grupo Aeroportuario del Sureste SAB de CV (ASR) on Thursday reported third-quarter earnings of $4.7 million. On a per-share basis, the Bosques De Las Lomas, Mexico-based company said it had net income of 16 cents. The airport facilities manager posted revenue of $110.5 million in the period.
House Speaker Nancy Pelosi said progress was being made in negotiations over a possible stimulus package. Health care companies, banks, and communication services stocks accounted for most of the gains, which helped the S&P 500 recoup its losses from a day earlier. On Thursday: The S&P 500 rose 17.93 points, or 0.5%, to 3,453.49.
A new bipartisan bill aims to help the travel and hospitality industry survive the pandemic with a series of new tax credits.
DMC Global Inc. BOOM) on Thursday reported third-quarter earnings of $1 million. The Broomfield, Colorado-based company said it had profit of 7 cents per share.
Macatawa Bank Corp. MCBC) on Thursday reported third-quarter profit of $7.1 million. The bank, based in Holland, Michigan, said it had earnings of 21 cents per share.
Strattec Security Corp. STRT) on Thursday reported fiscal first-quarter profit of $8 million. The Milwaukee-based company said it had profit of $2.11 per share.
Cuba said Thursday that the island has lost nearly $5.6 billion in one year as a result of economic sanctions imposed by U.S. President Donald Trump. Cuban Foreign Minister Bruno Rodríguez decried what he said was a growing number of sanctions suffocating the island, a topic that is on the agenda for next year’s U.N. General Assembly session.