Day: September 18, 2020

Apple has quietly dropped 22% from its peak, giving up $500 billion in market cap

spike 7 months ago

Well, that was fast.

It took just 12 trading sessions for Apple to plunge more than 20% from its all-time high, shedding over half a trillion in market capitalization.

The tech giant has lost 22.5% from its intraday record high of $137.98 from Sept. 2, losing around $536 billion in market value. Apple’s fast and furious decline followed its massive run-up in August ahead of its 4-for-1 stock split, while the steep losses also came as Apple’s recent product event — its first in 2020 — didn’t live up to the hype.

The Tim Cook-led giant on Tuesday announced a

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CDC reverses guidance that said people with no symptoms may not need a test

spike 7 months ago

Robert Redfield, director of the Centers for Disease Control and Prevention (CDC), speaks during a House Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., July 31, 2020.

Erin Scott | POOL | Reuters

The Centers for Disease Control and Prevention on Friday reversed controversial coronavirus testing guidance, which previously said that people who didn’t have symptoms but were exposed to an infected person “do not necessarily need a test.”

The new guidance says that people without symptoms who have been in close contact with an infected person “need a test.”

“Please consult with your healthcare provider or public

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WHO says parts of Europe reporting ‘worrying’ rise in coronavirus hospitalizations

spike 7 months ago

A patient under respiratory assistance is escorted to the Strasbourg University Hospital by members of the medical staff of the SAMU-SMUR emergency services who wear protective suits and facemasks, in Strasbourg, on March 16, 2020 during a COVID-19 outbreak hitting Europe.

Patrick Hertzog | AFP | Getty Images

Some European countries, including the U.K. and France, are reporting a rapid rise in Covid-19 hospitalizations, a “worrying trend” ahead of the influenza season approaching the Northern Hemisphere, a top official from the World Health Organization said. 

“We haven’t even started to hit the flu season yet, so we’re worried that these

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U.S. Steel, Tesla, Unity Software, Beyond Meat & more

spike 7 months ago

CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010

Brendan McDermid | Reuters

Check out the companies making headlines in midday trading. 

U.S. Steel — U.S. Steel shares popped more than 9% after the company reported a smaller-than-expected loss for its fiscal third quarter. U.S. Steel posted a loss of $1.45 per share. Analysts polled by FactSet expected a loss of $1.52 per share. CEO David Burritt said “improving market conditions experienced in June and July have accelerated through August and September.”

Unity Software —

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