An outside day for Activision put its mild breakout into a higher gear. It’s still in buy range.
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The company will also discontinue several international routes that were once popular leisure destinations but are now expected to see decreased demand. “In an effort to match low demand resulting from the coronavirus outbreak, the airline will realign its network with the goal of improving long-term profitability,” the company said in a statement.
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Rivals Royal Dutch Shell and BP Plc have disclosed massive spending cuts and writedowns due to the price drop. The company’s oil and gas operations will swing to a loss compared with the first quarter because of lower prices that reduce operating profit between $2.5 billion and $3.1 billion, the company said in a filing designed to give investors a snapshot of its operations. Its refining unit will suffer losses estimated to be between $800 million and $1.l billion, larger than its first quarter loss, it said.
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CureVac, an unlisted German company, has said it is developing portable, automated mRNA production units that it calls printers and which Musk described as “RNA microfactories”. The company, based in Tuebingen and backed by the Bill & Melinda Gates Foundation, is a pioneer of the so-called messenger RNA approach, which is also pursued by BioNTech and its partner Pfizer as well as Moderna.
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