Silvercorp Metals Inc. posted production and sales figures for the quarter ended June, 2021.

The company produced approximately 1.5 million ounces of silver, 1,000 ounces of gold, 15.9 million pounds of lead, and 7.2 million pounds of zinc.When the contracts were renewed for an additional two year term in mid May 2021, it took some time for the contractors to boost the operations back up to full capacity.

Nevertheless, Silvercorp.

The aircraft manufacturer also said that it will temporarily lower production rates following the detection of a new defect in some of the wide-body jets.

The company said that it will deliver fewer than half of the Dreamliners it has already produced but has not yet delivered. Last month, CEO Dave Calhoun mentioned that the company would deliver the “lion’s share” of the 100 Dreamliners in its inventory this year.

On Monday, the Federal Aviation Administration (FAA) said that the latest issue detected was near the nose of certain 787 Dreamliners that Boeing has produced but not delivered.

Boeing suspended deliveries of the wide-body planes in May for the second time in less than a year as the FAA reviewed the company’s methodology for assessing the aircraft.

The latest delivery delays could potentially exacerbate financial strain for Boeing.

Financial asset management firm, Capital Group, has bought a 12.2% stake in business intelligence solutions company MicroStrategy, according to a SEC filing.This purchase gives Capital Group 953,242 shares in MicroStrategy.

MicroStrategy has been amassing the cryptocurrency, thanks to its CEO Michael Saylor’s advocacy of the same.

Credit-card company Discover Financial Services  got a rating boost from Citigroup analyst.

Citigroup  upgraded the shares to buy from neutral, citing the potential for the company to benefit from increased consumer payments.According to Cyganovich Discover has the "clearest near-term path" to gain from the economic reopening of the country.

Meanwhile, analysts at Barclays also increased their price target on Discover to $146 from $132.

The deal could close the deal in this quarter, subject to conditions including regulatory approvals and a vote of Stamps.com holders.

However, the deal includes a 40-day period (through Aug. 18) during which Stamps.com  can actively seek better acquisition proposals.During this period, the board will have the right to terminate the Thoma Bravo agreement without penalty.

Chief Executive Ken McBride said that with Thoma Bravo's backing, Stamps.com will intend to capture the expanding e-commerce shipping market.

"The e-commerce landscape is rapidly evolving and we look forward to partnering with the Stamps.com team to continue building on the company’s leading position in e-commerce shipping solutions," said Thoma Bravo principal Brian Jaffee.

Carver Bancorp  shares more than tripled on Thursday, as retail traders talked up the financial services company’s stock.

"Blasting up!!"Upside 300%+".

 

Streaming giant Netflix  announced on Thursday an expanded partnership with producer Shonda Rhimes.The expanded partnership is expected to give Netflix and Shondaland Media the opportunity to exclusively produce, stream and distribute feature films as well potential gaming and virtual reality content.

The deal includes three more seasons of “Bridgerton” and a new series, “Inventing Anna,” which Rhimes and producing partner Betsy Beers will produce

The world’s fourth-largest automaker was formed via the merged automaker between Fiat Chrysler and French automaker PSA Group,

The company intends to have 55 electrified vehicles in the U.S. and Europe by 2025.Stellantis CFO Richard Palmer said the company has a goal to achieve double-digit adjusted profit margins by around 2026.

 

Semiconductor company Nvidia's  shares got a price-target boost from Truist, based on demand in gaming and cryptocurrency industries.

Analyst at Truist raised the price target on the shares to $910 from $768.That followed BMO Capital Markets analyst Ambrish Srivastava’s rice target boost to a Wall Street high of $1,000 from $975.

Analysts have been optimistic about Nvidia shares after the company beat its first quarter results on the back of demand for its graphics cards and chips using for both gaming and crypto mining.

Wells Fargo announced that it would stop offering personal lines of credit and is shutting those current accounts.

The product allowed users to borrow between $3,000 and $100,000, and was intended to consolidate higher-interest credit-card debt, pay for home renovations and avoid overdraft fees on linked accounts.

"Wells Fargo recently reviewed its product offerings and decided to discontinue offering new Personal and Portfolio line of credit accounts and close all existing accounts,” the bank said in a six-page letter (ass reported by CNBC).

In 2018, the Fed imposed caps on Wells Fargo balance sheet until it fixes compliance shortcomings revealed by Wells Fargo’s fake accounts scandal.However, the bank didn’t directly answer questions as to whether the Fed’s asset cap had a role in its latest decision.

Wells Fargo warned customers that the account closures “may have an impact on your credit score,” according to the letter.

On Monday, Cruise company Carnival began a tender offer to purchase up to $2 billion of 11.5% senior secured notes due 2023.The company  could issue new first-priority debt to finance the buyback.

Carnival issued the notes in April 2020 to boost its cash reserves, as the COVID pandemic wreaked havoc on the cruise industry.

Semiconductor company Nvidia  shares got a prcie target boost from Keybanc, on expectations of continued solid demand for video graphics cards and other products used in cryptocurrency and gaming industries.

Keybanc analyst John Vinh raised his one-year price target on Nvidia shares to $950 from $775.This follows BMO Capital Markets analyst Ambrish Srivastava’s price target hike on the shares last Thursday to a Wall Street high of $1,000 from $975. 

Nvidia received optimistic outlook from analysts following company’s better-than-expected first-quarter results, on the back of  strong demand for its graphics cards and chips that have uses in gaming and digital coin mining.

Electric carmaker Tesla reported second-quarter deliveries of 201,250 vehicles, marginally exceeding analysts’ consensus expectation  of 200,900.

The number of vehicles Tesla delivered were 9% higher quarter-over-quarter and 122% more year-over-year.The Q2 deliveries included 199,3560 Model 3/Y's and 1,890 Model S/X's.

The automaker produced 206,421 vehicles during the second quarter, which implies a +14% increase quarter-over quarter and a +151% increase year-over year.

Myron Holubiak, president and chief executive mentioned that this would be the third recommendation by the DMC supporting the continuation of the Mino-Lok trial.He said the outcome indicates that “based on our predefined parameters, it would be possible to achieve our primary endpoint by continuing the trial as planned, and is an encouraging signal when combined with the results of our prior studies.

Also, it is reducing production at eight additional factories owing to the global semiconductor shortage.

The  Michigan plant that makes the Bronco and Ranger pickup will be closed during the weeks of July 5 and July 26 (as reported in Bloomberg).The company was diverting its scarce semiconductor supply to be used for completing nearly finished vehicles.

Ford’s Chief Executive Jim Farley revealed this month that the company  had received 190,000 reservations for the Bronco, and around 125,000 had been converted to orders to build the new SUV.

Home retail chain Bed Bath and Beyond’s fiscal first-quarter sales rose almost +50% year-over-year , even as earnings missed analysts’ estimates.

The company’s earnings for the quarter came in at 5 cents adjusted vs. 8 cents expected by analysts polled by Refinitiv.

However, net sales rose to $1.95 billion from the year-ago quarter’s $1.3 billion, thereby topping expectations of $1.87 billion.sales from Bed Bath & Beyond, Buybuy Baby, Harmon Face Values and Decorist) surged +73% from the year-ago quarter.

Comparable sales ( revenue online and at shops open for at least 12 months) increased +86% from a year earlier, compared to analysts’ expectation of 75.6% (StreetAccount estimates).

For the second quarter, Bed Bath & Beyond predicts adjusted earnings to range between 48 cents and 55 cents per share, while analysts were expecting 52 cents per share.

Homebuilding stocks like Lennar rose Tuesday, following a record year-over-year increase in S&P CoreLogic Case-Shiller Index in April,

The 10-City Composite rose +14.4% year-over-year in April, compared to  +12.9% in the previous month.All 20 cities reported sharper price increases in the year ending April compared with the year ending March.

Craig Lazzara, managing director and global head of index investment strategy at S&P DJI,indicated that the demand increase may reflect an acceleration of purchases that “would have occurred anyway over the next several years.

The number of vehicles represents most of the vehicles Tesla has delivered China over recent years, according to Wedbush analyst Daniel Ives.

Around 211,000 locally built Model 3 cars and around 36,000 imported ones will be recalled, along with around 38,000 Model Y cars, according to Wedbush.

The recall is made in order to rectify autopilot safety issues that were detected by Chinese regulators.According to the State Administration for Market Regulation in China, the glitch spotted might incorrectly activate the active cruise function in some situations.

 

On Friday, Nokia  shares got a rating upgrade from analysts at Goldman Sachs.

 Analyst Alexander Duval boosted rating on the company’ stock to buy from neutral.This is the highest target of analysts tracked by Bloomberg.

The analyst cited  a better 5G spending backdrop, wireless product progress and market-share gain from Chinese vendors such as Huawei, especially in Europe, as factors behind the improved outlook.

In March, Nokia announced a five-year deal with AT&T. As part of the deal, Nokia will provide its latest fifth-generation equipment to power 5G on AT&T’s C-Band network.

On Thursday, Nike reported fiscal fourth-quarter earnings that surpassed analysts’ expectations, on the back of record revenue in North America.

The sneaker maker’s earnings came in at 93 cents, crushing the  51 cents expected by analysts polled by Refinitiv.

Revenue rose to $12.34 billion from $6.31 billion a year earlier, exceeding estimates for $11.01 billion.“Building on our 40-year history in Greater China, we continue to invest in serving consumers with the best products Nike has to offer in locally relevant ways,” CFO Matt Friend said during a post-earnings conference call.

For fiscal year 2022, Nike is projecting revenue to grow a low double-digit percentage, and to exceed $50 billion.