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Pent-up demand burst into the market in June.
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 President Donald Trump's executive order and memorandum to stimulate the economy don't seem to be feasible or legal, experts said Saturday.
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Two-year-old brand cracked the world's top 10 handsets with cheap and relatively high-spec devices
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 (Bloomberg) -- Shares of Berkshire Hathaway Inc. were left out of the stock market rally in the second quarter. Warren Buffett clearly thought the disconnect wasn't warranted.The famed investor spent a record $5.1 billion buying back Berkshire's own stock in the second quarter, more than double the amount he'd ever purchased before. That came as he unloaded almost $13 billion of other companies' shares, including airline stocks and some financials, in what was his biggest selling quarter in more than a decade.Buffett has been building up cash this year and took a more cautious tone at his annual meeting in May as the Covid-19 pandemic has slammed the economy without putting a permanent dent in stock-market valuations. But his appetite for his own stock in the second quarter, along with recent signs that he's been willing to put more money to work, are reasons for some optimism, according to Jim Shanahan, an analyst at Edward Jones."The buybacks are a relatively safe way to deploy capital in an uncertain environment," said Shanahan, who estimated that Berkshire repurchased another $2.4 billion of shares in July. "But it's clear that that's not all he's doing."Buffett's cash pile surged to a record $146.6 billion at the end of June, in part from dumping all of his airline shares in April. He's been more active lately, striking a deal for natural-gas assets in July and snapping up at least $2 billion of Bank of America Corp. stock in recent weeks through Aug. 4. Overall, Saturday's disclosures signaled to longtime sharehol
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 (Bloomberg) -- The federal agency that announced a $765 million loan to Eastman Kodak Co. less than two weeks ago said the offer is on hold pending probes into allegations of wrongdoing."Recent allegations of wrongdoing raise serious concerns," the U.S. International Development Finance Corporation said in a tweet Friday night. "We will not proceed any further unless these allegations are cleared." Congress and the Securities and Exchange Commission are investigating the deal, and Kodak's board said Friday it is also opening a review of the loan disclosure.The development bank loan announced July 28 was the first of its kind under the Defense Production Act in collaboration with the U.S. Department of Defense. It was intended to speed production of drugs in short supply and those considered critical to treat Covid-19, including hydroxychloroquine, the controversial antimalarial drug touted by President Donald Trump.The president, along with New York Governor Andrew Cuomo and White House aide Peter Navarro pitched the loan as a way to rebuild America's pharmaceutical manufacturing infrastructure while restoring a beleaguered Rochester, New York-based camera company.The news sent the stock soaring as much as 2,760%. Quickly, however, the deal received scrutiny. Corporate disclosures showed that Kodak board members had purchased additional shares before the announcement. Analysts questioned whether Kodak was truly equipped for large scale pharmaceutical manufacturing. In an interview with Bloomberg after the de
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Microsoft's Surface Duo may launch with AT&T EngadgetNew Surface Duo images appear as release draws closer PhoneArenaMicrosoft Surface Duo for AT&T appears in leaked renders - GSMArena.com news GSMArena.comSurface Duo renders fully reveal Samsung Galaxy Z Fold 2 rival Tom's GuideLeaked Surface Duo marketing pictures reveal home screens and pre-installed apps OnMSFT
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‘I was the supervisor of the department that processed and reconciled parking citations. Since mid-March, the number of parking citations drastically fell due to the coronavirus pandemic.'
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3 spots to consider
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 (Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk is accused in a lawsuit of defaming a long-time critic of the company and triggering an online hate campaign against him.Randeep Hothi, a University of Michigan graduate student known as "@skabooshka" on Twitter, says after Musk accused him of "almost" killing Tesla employees, he was hit with "an onslaught of hateful Twitter responses, accusing Hothi of being a liar, a murderer, a terrorist, and a deranged maniac."Musk's accusations -- made in an email to a website editor, who posted it on Twitter -- arose from two incidents, both of which Hothi claims were harmless.In the first, in February 2019, Hothi's was confronted by a security guard when he showed up -- to do research, he says -- at the Tesla sales center in Fremont, California.In the second, in April 2019, Hothi said he was driving when he spotted a Tesla test car and took photos of it, which he later posted online.Read more: Elon Musk Has Taken Drastic Steps to Silence Tesla Short SellersTesla sought a restraining order in which it claimed that Hothi had hit the security guard with his car and dangerously swerved toward the test car. Hothi denied the accusations, and Tesla dropped the suit after a judge ordered it to turn over video of the disputed incidents.Hothi has been a thorn in Musk's side, accusing him of being unable to live up to his promises for delivery of new Tesla cars and technologies.Tesla didn't respond to a request for comment.The case is Hothi v. Musk, RG20069852, Alameda County Superior
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 Penn National Gaming, Inc (NASDAQ: PENN) reported second-quarter results that look much different than the prior quarter when all 41 of its properties were closed, Penn National Gaming CEO Jay Snowden said on CNBC.From 41 Shutdowns To 2: During Penn's second quarter, all but two of the company's 41 gaming properties were in some form operational, Snowden said. As such, a lot has changed from the first quarter when the company lost more than $5 per share and second-quarter EPS improved to a loss of $1.69 per share.The majority of properties that are open can operate at 50% of their prior capacity, he said. Even at these depressed levels, Penn can return to prior year revenue levels in a fun and safe environment. Those who engage with Penn's casinos are doing so for longer periods of time as spend per visit is up around 45% year-over-year.Penn is seeing a lot of new customers come to its facilities, especially younger people."We are really excited about really being able to market to a new set of customers during these challenging times," the CEO said.Online Growth Profile: Penn operates online gaming sites in Pennsylvania and it saw a growth rate of more than 100% since the first quarter. Snowden said the growth could be a result of people being bored at home with fewer entertainment options.View more earnings on PENNPenn wants to be an omni-channel leader and could further capitalize as more states open up to legal gambling."Whatever you like to do and however you like to engage with sports and casino offerings, we are going to be able to offer that to you as long as the l
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The pandemic has businesses shifting away from cash to 'touchless transactions.' What does that mean for America's 'unbanked,' people who don't have bank accounts?
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 The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 18.8 million on Thursday, according to data aggregated by Johns Hopkins University, and the death toll rose to 708,036. At least 11.3 million people have recovered. The U.S. case tally climbed to 4.8 million and the death toll rose to 158,256. President Donald Trump said again Wednesday that the virus will go away soon, while Dr. Anthony Fauci, head of the National Institute for Allergies and Infectious Diseases, said it may not be brought under control until late 2021. Brazil is second to the U.S. with 2.9 million cases and 97,256 deaths. India is third measured by cases at 1.9 million, followed by Russia with 870,187 and South Africa with 529,877. Mexico has 456,100 cases and 49,698 deaths, the third highest in the world. The U.K. has 307,271 cases and 46,295 fatalities, the highest in Europe and fourth highest in the world. China, where the illness was first reported late last year, has 88,423 cases, and 4,678 fatalities.|
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Tensions with China seeped further into the market Friday as the U.S.-China trade deal returned to the picture, and deep losses for chipmaker Intel (INTC, -16.2%) didn't help, either.
In a Thursday coronavirus briefing, President Donald Trump said the pact "means less to me now than it did when I made it" as he continues to lay blame on China for the COVID-19 breakout. That, as well as China's demand that the U.S. close its Chengdu consulate - a retaliatory measure for a similar American order earlier this week - helped crack investor confidence.
14 Stocks to Sell or Stay Away From
Senate Republicans' fiscal stimulus proposal was delayed again, too, with a reveal now expected on Monday.
Intel was a particular drag following its Thursday evening earnings report, when it admitted that its next-generation CPUs will be released six months later than expected.
"We believe the company's delay of its 7nm roadmap will foster fears of competitive pressures persisting, if not accelerating over the next 2-3 years and thereby cap the valuation on its shares," wrote Deutsche Bank analyst Ross Seymore, who downgraded the stock from Buy to Hold. "While INTC has successfully proven that it can generate solid revenue and earnings growth despite being behind on Moore's Law (a trend that likely persists into 2021), we believe fears of the announced 6-month 7nm delay extending to a 10nm-esque multi-year issue that eventually does impact fundamentals will likely keep INTC's shares range-bound until the company definitively proves otherwise."
The uncertainty was a boon for gold, which continued its breako
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