Fly Intel: Top five weekend stock stories - InvestingChannel

Fly Intel: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Tesla (TSLA) reported Q3 deliveries of 343,830, with 3% subject to operating lease accounting, and production of 365,923 vehicles. Tesla delivered 18,672 Model S/X and 325,158 Model 3/Y. The company said that, “Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks. In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter. These cars have been ordered and will be delivered to customers upon arrival at their destination.” 2. Moderna (MRNA) has refused to hand over to China the core intellectual property behind the development of its breakthrough COVID-19 vaccine, leading to a collapse in negotiations on its sale there, Financial Times; Sun Yu, Eleanor Olcott and Donato Paolo Mancini report, citing people familiar with the matter. The company turned down Beijing’s request to hand over the recipe for its messenger RNA vaccine because of commercial and safety concerns, said two people involved in negotiations that took place between 2020 and 2021. The vaccine maker says it is still “eager” to sell the product to China, the authors wrote. The mRNA vaccine technology used by Moderna and BioNTech (BTNX)/Pfizer (PFE) provides longer-lasting and higher levels of protection than the inactivated vaccine technology used by Chinese makers. Several Chinese pharma companies are racing to develop a homemade mRNA alternative but have struggled with the emergence of more infectious variants, the publication adds. 3. One year ago, investors couldn’t get enough of special-purpose acquisition companies. Now, they can’t dump SPACs fast enough, Al Root writes in this week’s edition of Barron’s. New technologies, new capital, and optimistic business projections had investors dreaming of big gains from these blank-check companies, like the 250% pop in 2020. Now that bubble has popped, the author notes. Many of the stocks got what they deserved after offering financial guidance that has proven wildly off the mark, but not every company has failed so spectacularly, the publication adds. Many look like solid companies that made the bad choice of coming to market via a SPAC, the author writes, such as Blue Owl Capital (OWL), ChargePoint (CHPT), Luminar (LAZR), Rocket Lab (RKLB), Vacasa (VCSA), and Vivid Seats (SEAT). 4. Paramount’s (PARA) horror movie “Smile” on the weekend at the North America box office with a $22M debut from 3,645 locations. The film tells the story of a therapist who meets a graduate student who recently witnesses a gruesome suicide. Jessie T. Usher Kyle Gallner, Robin Weigert and Kal Penn co-star. 5. Olaplex Holdings (OLPX) and Deutsche Post DHL Group (DPSGY) saw positive mentions in this week’s edition of Barron’s.

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