McLain Capital recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted a return of -15.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned 20.5% in the same quarter. However, you should check out McLain Capital's top 5 stock picks […]

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McLain Capital recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted a return of -15.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned 20.5% in the same quarter. However, you should check out McLain Capital's top 5 stock picks […]

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McLain Capital recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted a return of -15.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned 20.5% in the same quarter. However, you should check out McLain Capital's top 5 stock picks […]

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Moderna began the U.S. government-backed trial on Monday, among a handful of companies that have started final testing of their experimental vaccines on tens of thousands of healthy volunteers. Chief Executive Officer Stéphane Bancel declined to comment on the specific price of the vaccine on a conference call with analysts. The Financial Times reported on Tuesday, citing unnamed sources, that the company was planning to price the vaccine at $50 to $60 per course, at least $11 more than another vaccine from Pfizer Inc and BioNTech.

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If you want to know who really controls Corning Incorporated (NYSE:GLW), then you'll have to look at the makeup of its…

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(Bloomberg) — U.S. prosecutors say Anthony Levandowski should spend 27 months in prison. The autonomous-driving engineer argues that at the height of the coronavirus, that could be a “death sentence.”Ahead of Levandowski’s sentencing next week, government lawyers told a judge that his punishment for stealing trade secrets from Google as he defected for Uber Technologies Inc. is an important lesson to deter “brazen and shocking” conduct in Silicon Valley.Levandowski, who agreed to plead guilty, countered that 12 months of home confinement and community service is enough.Levandowski “raided Google’s repositories and stole proprietary information that would have undoubtedly been useful to him,” prosecutors said in a filing. Had he not been caught, the stolen files might have made the engineer “the savior” of Uber’s self-driving program.“At some level, that is what Levandowski’s actions suggest he wanted, to be seen as the singular inventor of the self-driving car, the way Alexander Graham Bell is credited with inventing the telephone,” the government said.Uber recruited Levandowski from Google and later fired him while the company was fighting a civil lawsuit by Alphabet Inc.’s Waymo over allegations that gave rise to the criminal case.Miles Ehrlich, Levandowski’s lawyer, said it’s important for the court to recognize the difference between what he actually did and the more sinister, sensationalized conduct he was originally accused of — stealing “thousands upon thousands of ‘crown jewel,’ billion-dollar self-driving car secrets from Google,” and selling them to Uber.Ehrlich strategically appealed to a fact that U.S. District Judge William Alsup noted during the course of Waymo’s court fight against Uber: that lawyers combing through Uber’s facilities and data in 12 inspections never produced evidence Levandowski used Google’s trade secrets.Ehrlich urged the court to also weigh the Covid-19 pandemic ravaging prisons. For Levandowski, who has suffered respiratory illnesses and pneumonia in recent years, incarceration could mean a “death sentence,” he said.Levandowski arrived at his plea agreement with prosecutors in March, two weeks after a related civil dispute with Google drove him to file for bankruptcy. Google won a $179 million award against the engineer over his defection to Uber. The bankruptcy made it difficult, if not impossible, for Levandowski to mount what would have been a prolonged and costly effort to fend off the criminal charges.Under federal sentencing guidelines, which judges aren’t required to follow, Levandowski faced as long as 30 months in prison. Without the deal, he could have gotten as much as 10 years. Prosecutors agreed to drop 32 of 33 counts in the agreement. The plea requires Levandowski to pay about $750,000 in restitution to Waymo to cover its costs of assisting the investigation.The criminal case is U.S. v. Levandowski, 19-cr-00377, U.S. District Court, Northern District of California (San Francisco).For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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(Bloomberg) — General Electric Co. predicted slow gains in operations this year and next after the coronavirus pandemic battered results in the second quarter.The jet-engine division has tracked “early signs of improvement” in flight departures on the path to a lengthy recovery, GE said in a presentation Wednesday as it reported results. The company burned through $2.1 billion in industrial free cash in the second quarter, less than the $3.3 billion drain expected by analysts.“It’s really about sequential improvement from here,” Chief Executive Officer Larry Culp said on a call with analysts. “The environment remains challenging. But with respect to those things that are within our control, we think health care is well-positioned to lead, the turnarounds in power and renewables continue, and we’re expecting a multiyear recovery in aviation.”Culp is trying to get GE back on track after the pandemic upended a turnaround he began after taking the reins in 2018. GE posted double-digit declines in orders across all its industrial businesses in the second quarter, with comparable declines in sales in all units except renewable energy. Revenue in the aviation business plunged 44% as the virus gutted air travel and dimmed the long-term outlook for aircraft sales.What Bloomberg Intelligence Says:“Negative order trends across General Electric’s portfolio and high decremental margins are a stark reminder that it will take years for the company to achieve credit-protection measures more consistent with its Baa1/BBB+/BBB rankings.”Joel Levington, Director of Credit ResearchClick here to read the research.GE recorded a $1.8 billion unrealized pretax gain during the quarter on its plan to sell its stake in Baker Hughes over the next three years. The company will use the proceeds to pay down debt.The company’s shares dropped 3.3% to $6.66 at 9:52 a.m. in New York, erasing gains made in premarket trading. GE tumbled 38% this year through Tuesday, while a Standard & Poor’s index of industrial companies fell 12%.The second-quarter results generally matched investors’ low expectations, John Inch, a Gordon Haskett analyst, wrote in a note to clients.“It seems apparent that GE’s fundamentals including cash flow challenges are likely to persist for many quarters/years with no obvious recourse as the company has largely sold what it can,” Inch said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Shares of Seagate (STX) fell 8.4% in Tuesday's extended trading after 4Q earnings disappointed. Adjusted earnings of $1.20 per share in 4Q missed analysts’ estimates of $1.29. Revenues of $2.52 billion also fell short of Street estimates of $2.61 billion.Seagate’s CEO Dave Mosley, said that “continued economic uncertainty and COVID-19 related disruptions impacted demand in other key end markets including video and image applications, mission-critical and consumer markets and also impacted profitability as we incurred higher logistics and labour costs."Moreover, Seagate’s 1Q outlook also fell short of analysts’ expectations. The company forecasts revenues and adjusted earnings of $2.3 billion and $0.85 per share, respectively. The Street estimates 1Q revenues and earnings at $2.44 billion and $1.07 per share, respectively.Following the quarterly results, Rosenblatt Securities analyst Kevin Cassidy cut the stock's price target to $63 (30% upside potential) from $65, while maintaining a Buy rating. Meanwhile, RBC Capital analyst Mitch Steves lowered the price target to $48 from $54 along with Cowen analyst Karl Ackerman, who cut the price target to $44 from $50.Currently, the Street has a cautious outlook on STX. The Hold analyst consensus is based on 3 Holds and 1 Sell versus 1 Buy. The average price target of $50.25 implies an upside potential of 3.5%. (See STX stock analysis on TipRanks).Related News: AMD Gains 10% In After-Hours on 2Q Earnings Beat, Upbeat Guidance FireEye Jumps 14% In After-Hours On 2Q Earnings Beat EBay Falls After-Hours Despite ‘Superb’ Beat & Raise Quarter More recent articles from Smarter Analyst: * Tesla’s Elon Musk Is Open To Offering Software And Batteries To Competitors * Google Is Negotiating With Samsung For More Presence On Its Devices- Report * Amazon Rolls Out Free Grocery Delivery In London; Jefferies Sees 27% Upside * Mondelez Reports Mixed Q2; RBC Says Risk/ Reward Skews Positive

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