Friday, 15 Nov 2024

Marvell Technology Group Ltd. Q2 adjusted earnings Beat Estimates

Diego Luna Said Hello to Directing TV With a Show About Goodbyes

“Everything Will Be Fine,” on Netflix, follows the dissolution — and the new beginnings — of a modern family. For Luna, it was about “making sure we are in charge of deciding what family should be for us.”

By Laura Zornosa

Gold Futures Settle Higher

Gold futures settled higher on Thursday, recovering after early weakness as traders looked ahead to the outcome of the Jackson Hole symposium for clues on the timing of a tapering of monetary stimulus.

Fed Chairman Jerome Powell is expected to indicate that the central bank will slow monthly purchases of Treasury and mortgage-backed securities.

However, a firm dollar limited the yellow metal’s upside. The dollar index climbed to 93.08, gaining nearly 0.3%.

Gold futures for December ended up by $4.20 or about 0.2% at $1,795.20 an ounce, well off the session’s low of $1,781.30.

Silver for September ended lower by $0.225 or about 1% at $23.550 an ounce, while the most active Copper futures contract for December, settled at $4.2595, down $0.0165 or 0.4% from the previous close.

On the economic front, first-time claims for U.S. unemployment benefits edged slightly higher in the week ended August 21st, according to a report released by the Labor Department.

The report said initial jobless claims inched up to 353,000, an increase of 4,000 from the previous week’s revised level of 349,000. Economists had expected jobless claims to tick up to 350,000 from the 348,000 originally reported for the previous week.

In economic news from eurozone, a survey showed that the outlook amongst consumers in Germany is deteriorating heading into September.

Gfk forward looking consumer confidence index dropped from -0.4 to -1.2, marking the worst reading in three months as accelerating inflation and rising COVID-19 cases made consumers more hesitant to buy.

AFM Moves Fully Online For 2021 Edition As The Pandemic Nixes Yet Another In-Person Event

The American Film Market, held annually at the Loews Hotel in Santa Monica, is moving its 2021 edition entirely online, the Independent Film & Television Alliance (IFTA) announced today.

‘AFM 2021 Online’ will be held Monday, November 1 to Friday, November 5 – shifting one day earlier than its original dates.

The market will feature “industry offices, screenings, conferences, panels and workshops, the Networking Pavilion, LocationEXPO, and more.”

“We wish we could welcome the global industry back to Santa Monica but travel regulations, increased concerns about coronavirus variants around the world, and government restrictions on the ground prevent us from moving forward,” explained Michael Ryan, Chairperson, IFTA and Partner, GFM Films.

“However, IFTA is thrilled to host the market the industry expects – where no one will be excluded and all of our stakeholders can immerse themselves for five days dedicated to deal making, discovery, education, and reconnecting.”

Watch on Deadline

Following an in-person Cannes Film Festival and an increasing number of U.S. and international festivals going ahead this fall, there had been hopes that AFM could happen on site, but like so many physical events over the last two years, those hopes have been dashed.

The news comes amid an ongoing Covid surge in California (and many other parts of the world) and continuing travel restrictions for those hoping to get to America on business.

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Here's how pharmacies set drug prices, and what consumers can do to save money

Americans are having a tough time paying for medications despite bipartisan efforts to drive down prescription drug prices.

Nearly 1 in 4 Americans say it’s difficult to afford their medications, according to a March 2019 poll by the Kaiser Family Foundation. This comes as pharmacies raked in a record $465 billion from prescriptions.

Lawmakers from both parties support lowering drug prices, but they haven't had much success regulating the industry. In September 2019, U.S. Rep. Frank Pallone, D-N.J., introduced the Elijah E. Cummings Lower Drug Costs Now Act. The House passed the bill in December 2019, but it died in the Senate.

Former President Donald Trump also made a late-term bid in the fall of 2020 to try to lower drug costs, but the effort faced setbacks in court.

As regulation attempts have faltered, businesses such as GoodRx have tried to fill the gaps in the complicated pricing system. However, experts say non-systemic solutions are a Band-Aid on a bigger problem.

Watch the video above to learn more about how pharmacies set their prices, why lawmakers are struggling to regulate the industry, and what customers can do to save money.

At least 10 U.S. Troops believed killed in Kabul blasts -official

WASHINGTON (Reuters) – At least 10 U.S. troops are believed to have been killed in the blasts that rocked Kabul on Thursday, a U.S. official told Reuters citing initial information that can change.

Marvell Technology Group Ltd. Q2 adjusted earnings Beat Estimates

Below are the earnings highlights for Marvell Technology Group Ltd. (MRVL):

-Earnings: -$276.43 million in Q2 vs. -$157.89 million in the same period last year.
-EPS: -$0.34 in Q2 vs. -$0.24 in the same period last year.
-Excluding items, Marvell Technology Group Ltd. reported adjusted earnings of $283.95 million or $0.34 per share for the period.
-Analysts projected $0.31 per share
-Revenue: $1.08 billion in Q2 vs. $0.73 billion in the same period last year.

-Guidance:
Next quarter EPS guidance: $0.35 – $0.41

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