Audi Skysphere: pour renouer avec les années folles, en électrique
After Hours Summary: UPST +17.8%, FUBO +11.5%, MCFE +3.7%, DOCS +3.5% higher on earnings; WW -22.3%, ONTF -17.6%, EPAY -8%, POSH -7% lower on earnings; NLOK +3.9% on deal to acquire AvastAfter Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: UPST +17.8%, LPRO +13.1%, FUBO +11.5%, MRVI +9.9%, TDUP +7.3%, LRN +5.6%, SKIN +5.3%, PUBM +4.2%, MCFE +3.7%, DOCS +3.5%, TASK +2.9%, FLYW +2.1%, JAMF +1.9%, NVEE +1.9%, DAR +1.6%, COIN +0.9%, PAAS +0.3% (also increases dividend)
Companies trading higher in after hours in reaction to news: CRNX +8% (stock offering by selling shareholders; also files for mixed securities shelf offering), NLOK +3.9% (to acquire Avast), KODK +1.1% (files for $500 mln mixed securities shelf offering; also stock offering by selling shareholders), RIOT +0.8% (provides July production and operations updates), IVZ +0.4% (reports July AUM), W +0.3% (authorizes new $1 bln share repurchase program), MTZ +0.2% (a name to watch on AT&T cap-ex guidance, AT&T is MasTec's largest customer), TFC +0.1% (to acquire Service Finance Co for $2 bln), NBHC +0.1% (to collaborate with Finstro Holdings and Figure Tech in building a digital financial ecosystem for SMBs)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: WW -22.3%, ONTF -17.6%, EPAY -8%, POSH -7%, NARI -5.3%, OLO -2.9% (also to team up with GRUB to integrate digital orders), GO -2.4%, PLBY -1.7%, SMCI -1.5%, SGFY -0.7%, U -0.6% (also to acquire Parsec for $320 mln in cash)
Companies trading lower in after hours in reaction to news: GTES -6.4% (stock offering), FULC -2.5% (stock offering), MRKR -1.5% (files for $300 mln mixed securities shelf offering), SMG -0.2% (prices senior notes), T -0.2% (updates investment, capex guidance for FY21; also WarnerMedia in talks to sell TMZ tabloid unit to Fox, according to The Information), BSX -0.1% (FDA clearance for EXALT Model B Single-Use Bronchoscope), MESA -0.1% (reports July block hours increased 92.1% yr/yr)
Closing Stock Market SummaryThe S&P 500 (+0.1%) and Dow Jones Industrial Average (+0.5%) set intraday and closing record highs on Tuesday, as value/cyclical stocks outperformed at the expense of the growth stocks. The Russell 2000 increased 0.2%, while the Nasdaq Composite (-0.5%) was dragged lower by its technology components.
The major development today was the Senate passing the $1 trillion bipartisan infrastructure bill, as widely expected, and voting to begin debate on the $3.5 trillion budget resolution plan. As a reminder, House Speaker Pelosi said she won't bring the infrastructure bill to a vote unless the $3.5 trillion package is passed.
Prior to the decision late morning, there was already a pro-growth sentiment in the market: cyclical stocks were in the leadership positions, Treasury yields across the curve were trading modestly higher, and oil prices ($68.33/bbl, +1.78, +2.7%) were rebounding 3%.
There was little progress in the market for the rest of the session, as the growth stocks struggled amid the higher interest rates and rotational pressure.
The S&P 500 energy (+1.7%), materials (+1.5%), industrials (+1.0%), and financials (+1.0%) sectors finished with gains of at least 1.0%. Conversely, the information technology sector (-0.7%) -- the market's most heavily-weighted sector -- declined 0.7% and was joined by the real estate (-1.1%) and health care (-0.2%) sectors in the red.
Semiconductor stocks saw increased selling interest amid an industry report that indicated expectations for PC DRAM prices to decline by up to 5% qtr/qtr in the fourth quarter. The Philadelphia Semiconductor Index fell 1.2%.
Kansas City Southern (KSU 289.75, +20.15, +7.5%), meanwhile, was one of today's story stocks after Canadian Pacific (CP 72.21, -0.50, -0.7%) increased its bid to acquire KSU for $300 per share in cash and stock. KSU shares rose 7.5%.
Specifying the moves in the Treasury market, the 2-yr yield increased three basis points to 0.23%, and the 10-yr yield increased three basis points to 1.34%. The U.S. Dollar Index increased 0.1% to 93.07 and closed at its highest level since March.
Reviewing Tuesday's economic data:
- Productivity was up a weaker than expected 2.3% in the second quarter (consensus 3.4%) and unit labor costs increased a lower than expected 1.0% ( consensus 1.1%). That followed a downward revision to Q1 productivity to 4.3% (from 5.4%) and unit labor costs to -2.8% (from 1.7%).
- The key takeaway from the report is the tame unit labor cost data. This is a number that Fed Chair Powell watches closely to help determine if rising wages are feeding into broader price inflation.
- The NFIB Small Business Optimism Index for July decreased to 99.7 from 102.5 in June.
Looking ahead, investors will receive the Consumer Price Index for July, the Treasury Budget for July, and the weekly MBA Mortgage Applications Index on Wednesday.
- S&P 500 +18.1% YTD
- Dow Jones Industrial Average +15.2% YTD
- Nasdaq Composite +14.7% YTD
- Russell 2000 +13.4% YTD
Coinbase gets boost from wild cryptocurrency trading swings
But US digital asset exchange warns that volatility is starting to fade
Coinbase’s revenue rose more than 1,000 per cent year-on-year in the second quarter of 2021 as cryptocurrency markets experienced some of their wildest swings, although the exchange warned of declining volatility as it lowered expectations for the year ahead.
In its second quarterly results since becoming the first big US cryptocurrency exchange to go public in April, Coinbase posted net revenues of $2.03bn, up 27 per cent from the previous quarter and 1,042 per cent year-on year. Net income rose to $1.6bn from $32m in the same period last year.
The bumper results, which beat analyst expectations, came as speculators continued to bet feverishly on volatile crypto markets, with digital assets including bitcoin and ethereum hitting all-time highs earlier in the quarter before declining dramatically, only to swell again.
Coinbase said the number of retail monthly transacting users, or MTUs — retail traders who trade at least once a month — topped 8.8m in the three months to the end of June, up 44 per cent from the first quarter.
But it warned that MTUs and trading volume had already dropped in July, as “volatility declined significantly relative to Q2 levels”, while August levels also remained “lower than earlier in the year”.
The exchange lowered the top end of its estimates for the average annual user figures from 9m MTUs to 8m MTUs.
Coinbase shares were up 1.6 per cent in after-hours trading.
CONCPEPT-CAR – Audi présente au Concours d’Elégance de Pebble Beack la Skyshpere, premier jalon d’une trilogie qui annonce le futur électrique de la marque. Ce roadster de luxe se veut une réinterprétation des majestueuses Horch des années 1930.
Comme le Renault Morphoz, ce concept-car peut s'étendre en longueur selon les conditions de conduite.
AUDI
Longtemps, les rumeurs ont circulé sur l’éventuel retour de Horch, en tant que label haut-de-gamme d’Audi. Mais le succès en demi-teinte de Maybach, ressorti de la naphtaline par Mercedes-Benz a sans doute douché les ambitions de la marque aux anneaux. Pourtant, la volonté de faire renaître les majestueuses voitures des années 1930 trottait dans la tête des stylistes de la marque. Quelle meilleure scène pour cette réinterprétation que le Concours d’Elégance de Pebble Beach, un des événements dédiés à l’automobile parmi les plus sélects au monde, où Horch 853 a remporté le prix en 2009 ?
C’est dans le tout nouveau centre de style d’Audi à Malibu qu’a été conçu le Skysphere. Les équipes du constructeur avouent s’être inspirées de la Horch 853, modèle lancé en 1935 dont le long capot cachait un huit-cylindres en ligne. Pas question ici d’une telle mécanique, l’électrique est de mise : un moteur de 632 ch et 750 Nm entraîne les roues arrière, promettant une accélération de 0 à 100 km/h en 4 secondes. La batterie de 80 kWh assure qant à elle une autonomie de 500 km sur le cycle WLTP. Comme la Horch 853 qui fait partie de la collection du constructeur, la Skysphere est un cabriolet, type de carrosserie à même de représenter au mieux l’art du voyage, selon le service de communication de la marque.
L'Audi Skysphere chipe son empattement variable au Renault Morphoz
Le concept-car Skysphere a pour but de préfigurer l’évolution du style Audi. Bien qu’il s’agisse d’un modèle électrique, la calandre Singleframe demeure en place. Certes, elle n’est pas aérée mais plutôt constellée d’un motif lumineux, au même titre que la face arrière. La principale originalité concerne la carrosserie à géométrie variable. En mode GT, qui dispose d’un système de conduite autonome de niveau 4, les occupants disposent d’un espace généreux, avec un empattement équivalent à celui d’une limousine A8 L. En mode Sport, celui-ci se raccourcit de 25 cm et le volant se déploie pour que conducteur puisse reprendre la main. Le gabarit de l’auto équivaut alors à celui d’une RS5, avec 4,94 m de long. Cet empattement variable a déjà été exploré par Renault sur son concept-car Morphoz, où cela lui permettait d’offrir une meilleure maniabilité en ville, tout en emportant une plus grande batterie pour les longs trajets.
L’habitacle est barré d’un large écran de 1,41 m qui remplace la planche de bord, à même de dialoguer avec les passagers. Cet environnement est habillé de matériaux "responsables" : cuir vegan, microfibre et bois d’eucalyptus sourcé de manière durable sont mis en avant par le constructeur.
Cette Audi Skysphere est le premier jalon d’une trilogie de concept-cars destinés à affirmer le futur du haut-de-gamme Audi. La deuxième étude de style, appelée Grandsphere, se présentera comme une grande berline. Elle sera dévoilée le 2 septembre prochain, quelques jours avant le Salon de Munich où elle fera sa première apparition publique. Enfin, le dernier, un SUV nommé Urbansphere, attendra 2022 pour faire son apparition. Ces modèles préparent la voie au projet Artemis, promis pour 2024 et qui semble trouver son pendant chez Volkswagen sous le nom de Trinity. Ces futurs modèles électriques pourraient à terme emporter des batteries à électrolyte solide, gage d’une charge bien plus rapide. En effet, le Groupe Volkswagen travaille main dans la main avec le spécialiste américain QuantumScape pour développer de telles cellules, avec l’espoir de les commercialiser en 2026.
90% Of Patients Treated With Experimental Israeli COVID Drug Discharged Within 5 Days
Finally, it looks like the world might be on the verge of obtaining a therapeutic drug that's actually effective at helping patients infected with COVID. But you probably won't hear anything about this latest breakthrough from the American media, which covered the race for a vaccine with breathless enthusiasm.
According to a report in the Jerusalem Post, some 93% of 90 seriously ill coronavirus patients treated in several Greek hospitals with a new drug developed by a team at Tel Aviv’s Sourasky Medical Center were discharged in five days or fewer during the Phase II trial of the new therapeutic.
The Phase II trial confirmed the results of Phase I, which was conducted in Israel last winter. That trial found that 29 out of 30 patients in moderate to serious condition recover within days, while no cases of serious side effects have yet been detected.
"The main goal of this study was to verify that the drug is safe," Prof. Nadir Arber said. "To this day we have not registered any significant side effect in any patient from both groups."
The trial was conducted in Athens because Israel didn't have enough sick patients. The principal investigator was identified as Greece's coronavirus commissioner, Prof. Sotiris Tsiodras.
Arber and his team developed the drug around amolecule that the professor has been studying for 25 years called CD24, which is naturally present in the body.
"It is important to remember that 19 out of 20 COVID-19 patients do not need any therapy," Arber said. “After a window of five to 12 days, some 5% of the patients start to deteriorate."
By now, even lay people may understand that the reason COVID patients deteriorate is due to a natural bodily reaction to something called the cytokine storm. The cytokine storm occurs because the body's immune system goes ballistic. In many cases, the reaction actually contributes to the death or serious illness of the patient. The new therapeutic works by suppressing this reaction using the CD24 protein.
"This is precision medicine," he said. "We are very happy that we have found a tool to tackle the physiology of the disease.""Steroids for example shut down the entire immune system," he further explained. "We are balancing the part responsible for the cytokine storms using the endogenous mechanism of the body, meaning tools offered by the body itself."
The scientists are preparing to begin the Phase 3 trial, which they hope to complete by the end of the year. That probably couldn't happen quickly enough, since the world is already waking up to the fact that the vaccines originally marketed as more than 90% effective are actually helping the virus to mutate into more virulent strains.