Every investor in Enphase Energy, Inc. (NASDAQ:ENPH) should be aware of the most powerful shareholder groups…

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Microsoft is finally launching its much-anticipated return to the smartphone market with its new Surface Duo, a dual-screen foldable phone.

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Moderna will provide about 100 million doses, with the price coming to around $30.50 per person for a two dose regimen. The company’s vaccine candidate, mRNA-1273, is one of the few that have already advanced to the final stage of testing and is on track to be completed in September, the company said this month. The deal confirms that Moderna’s experimental vaccine is one of the leading contenders, said BMO analyst George Farmer, who has an “outperform” rating on the stock.

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OPEC on Wednesday said world oil demand will fall more steeply in 2020 due to the coronavirus pandemic and said next year’s recovery faces large uncertainties, pointing to growing headwinds for the group and its allies in supporting the market. World oil demand will fall by 9.06 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report, more than the 8.95 million bpd decline expected a month ago. “Crude and product price developments in the second half of 2020 will continue to be impacted by concerns over a second wave of infections and higher global stocks,” OPEC said in the report.

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When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 19x, you may…

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Solid operational results from achieving scale of cultivation and store footprint, provides industry leading free cash flow this quarterTALLAHASSEE, Fla., Aug.

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(Bloomberg) — A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company — known also as Foxconn — moves more manufacturing to Southeast Asia and other regions to avoid escalating tariffs on Chinese-made goods headed to U.S. markets, Liu told reporters after his company reported financial results.“No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each,” Liu said, adding that while China will still play a key role in Foxconn’s manufacturing empire, the country’s “days as the world’s factory are done.”Intensifying trade tensions between Washington and Beijing have pushed device manufacturers to diversify their production bases away from China, and Liu last year said that Apple’s most prized product, the iPhone, can be made outside China if needed. The two nations remain in trade talks, but Liu’s comments affirm a growing expectation that the China-centric electronics supply chain will fragment over the longer term.Read more: Trump Tumult Has Gadget Giants Splitting Along U.S.-China LinesThe Taiwanese company reported better-than-expected net income of NT$22.9 billion ($778 million) for the quarter ended in June, boosted by increased demand for iPads and MacBooks. Revenue was NT$1.13 trillion, but Hon Hai warned it expects its third-quarter sales will be down by double digits relative to 2019 as Apple delays its iPhone launch this year.Hon Hai is bouncing back from a record profit slump in the first quarter as production at its factories recovered and shelter-in-place orders spurred demand for home computing equipment. The pandemic likely boosted iPad and Mac sales, even as Apple store closures weighed on iPhone sales, Apple CEO Tim Cook said on July 31 after reporting quarterly revenue that crushed estimates. Apple accounts for half of Hon Hai’s sales.Read More: Apple Smashes Revenue, IPhone Estimates on Pandemic DemandEven as Apple outperformed, Hon Hai’s other customers have fared less well. Hong Kong-listed subsidiary FIH Mobile Ltd. said in its Aug. 7 earnings release that while Huawei Technologies Co.’s new phones have been popular in China, they missed expectations elsewhere following U.S. sanctions. Another key customer Xiaomi Corp. suffered a backlash in the Indian market amid growing tensions between China and the South Asian country. FIH lost $100 million in the first half.Foxconn has been shaking up its traditionally China-focused operations. Hon Hai is among Apple assembly partners that plan to expand operations in India, potentially helping the iPhone maker grow its presence in the country of 1.3 billion and shift some of the U.S. company’s supply chain outside of China as ties between Washington and Beijing fray.Chinese rivals are also posing a growing challenge. Local electronics titan Luxshare Precision Industry Co. is poised to become the first Chinese homegrown iPhone assembler after sealing a deal in July to buy an Apple handset production plant from Wistron Corp. While Hon Hai will keep assembly orders for premium iPhones, Luxshare will eat into the business for mid-to-entry-level Apple handsets, Fubon Securities analyst Arthur Liao wrote in a July 23 note.Foxconn will work on its component business to maintain tech leadership and it also benefits from its long-term relationship with Apple, Liu said in response to several analysts’ questions about Foxconn’s competitive strategy against the rising Chinese supplier.Orders could be further affected after President Donald Trump issued an executive order barring U.S. residents from doing business with Tencent Holdings Ltd.’s WeChat. Annual iPhone shipments could plunge 25%-30% if Apple is forced to remove the app from its app stores worldwide, TF International Securities analyst Kuo Ming-chi warned in an August 9 note.(Updates with comments from chairman from first paragraph)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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Top news and what to watch in the markets on Wednesday, August 12, 2020.

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Shares in Moderna (MRNA) spiked 11% in Tuesday’s after-hours trading after the company announced a $1.525 billion supply deal with the U.S. government for 100 million doses of its Covid-19 vaccine mRNA-1273.According to the statement, the award is for the manufacturing and delivery of 100 million doses of mRNA-1273 including incentive payments for timely delivery of the product.With the previous award of up to $955 million from BARDA for the development of mRNA-1273 to licensure, this latest announcement brings the U.S. government commitments for early access to mRNA-1273 to up to $2.48 billion.Plus the U.S. government, as part of Operation Warp Speed, will also have the option to purchase up to an additional 400 million doses of mRNA-1273.“We appreciate the confidence of the U.S. government in our mRNA vaccine platform and the continued support,” said Stéphane Bancel, Moderna’s CEO. “We are advancing the clinical development of mRNA-1273 with the ongoing Phase 3 study being conducted in collaboration with NIAID and BARDA. In parallel, we are scaling up our manufacturing capability with our strategic partners, Lonza, Catalent and Rovi, to address this global health emergency with a safe and effective vaccine.”mRNA-1273 is an mRNA vaccine against COVID-19 encoding for a prefusion stabilized form of the Spike (S) protein, and is being co-developed by Moderna and investigators from the National Institute of Allergy and Infectious Disease’s (NIAID) Vaccine Research Center.The Phase 3 COVE study of mRNA-1273 began on July 27; enrollment is on track to complete in September.With optimism building over mRNA-1273, shares in Moderna have exploded by over 250% year-to-date. And the stock boasts a bullish Strong Buy consensus from the Street alongside a $94 average analyst price target– indicating further upside potential lies ahead.Oppenheimer analyst Hartaj Singh writes: “While MRNA navigates vaccine supply agreements and a potential commercialization of mRNA-1273, we anticipate volatility in the shares to continue. Nonetheless, clinical updates from P2 and eventually P3, in parallel with a further clarified regulatory path to approval, position MRNA well over the coming 12-18 months, in our view.”Accordingly, Singh keeps his buy rating on the stock with a $108 price target (57% upside potential), adding that MRNA’s peak annual revenue of $5B to $10B for mRNA-1273 could be achieved in 1/2 the time required by its BioPharma peers historically, fueled by a scalable platform and strong execution. (See Moderna stock analysis on TipRanks).Related News: Pfizer Inks Deal To Manufacture Gilead’s Covid-19 Remdesivir Treatment Inovio To Start P2/3 Study Of Covid-19 Candidate In Sept.; Shares Drop 8% Novavax Rises 5% On Earnings; $2B Covid-19 Vaccine Funding More recent articles from Smarter Analyst: * J2 Global Surges 15% On Earnings Beat; RBC Upgrades To ‘Buy’ * Boeing’s Aircraft Deliveries Drop In July As More 737 MAX Cancellations Hit * MPLX Prices $3B Public Offering; RBC Capital Bullish On Outlook * Needham Raises Electronic Arts’ PT On Strong Gaming Demand

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