Sweden's Health Agency asks government to ban large gatherings

STOCKHOLM (Reuters) – Sweden’s Public Health Agency on Wednesday asked the Swedish government to ban gatherings of over 500 people in a bid to stop the spread of the coronavirus.

Swedish law dictates that the agency put forward a motion for the government to enact a ban. The government said earlier on Wednesday it would follow recommendations from the agency.

Stock Alert: Avid Bioservices Falls 29% On Earnings, Outlook

Shares of Avid Bioservices Inc. (CDMO) are currently losing almost 29 percent in the morning trade on Wednesday at $4.26 after the company reported a wider net loss for the third quarter and also lowered its fiscal 2020 revenue outlook.

The stock has traded in a range of $3.37 to $8.38 in the past 52 weeks.

Avid Bioservices is a contract development and manufacturing organization, providing commercial manufacturing services focused on biopharmaceutical products.

For the third quarter, Avid Bioservices reported a consolidated net loss attributable to common stockholders of $3.55 million or $0.06 per share, wider than net loss of $2.58 million or $0.05 per share in the year-ago period. Revenue for the quarter edged down to $13.59 million from $13.78 million for the third quarter of last fiscal year. The company attributed the lower revenue and wider loss to temporary production interruptions and said it expects this to impact revenues and profits for the fourth quarter as well.

Accordingly, the company lowered its revenue outlook for fiscal 2020 to a range of $55 million to $59 million from the prior range of $64 million to $67 million.

Southern German state to delay university term to slow coronavirus: Newspaper

BERLIN (Reuters) – The start of the university term in the southern German state of Baden-Wuerttemberg will be delayed by a month until April 20 in order to help slow the spread of the coronavirus epidemic, newspaper Handelsblatt reported on Wednesday.

Stock Alert: Vivint Solar Down 8%

Shares of solar energy company Vivint Solar, Inc. (VSLR) are down more than 8% Wednesday morning after its earnings miss in the fourth quarter. VSLR is currently trading at $8.76. It has traded in the range of $4.67- $12.99 in the last one year.

Net loss for the fourth quarter widened to $33.5 million or $0.27 per share, on increased expenses. In the year-ago quarter net loss was $12.9 million or $0.11 per share. On average, 3 analysts polled by Thomson Reuters were expecting loss of $0.17 per share.

Revenue for the quarter, however, increased 21% year-over-year to $77.1 million.

Spotify’s Parcast Scores Ashley Flowers Series ‘Supernatural’

Best known for it’s chart-topping series Cults and Today In True Crime, the Spotify-owned Parcast has turned to the world of spirits with a new exclusive series Supernatural.  Hosted by Ashley Flowers — whose hit Crime Junkies recently crossed 18 million downloads — and built on research into the occult by Parcast, the show will take a deep dive into the strange and surreal to explain some of the world’s most bizarre occurrences.

The new series arrives at a time when podcast consumption is exploding and players like HBO MAX with Callie Khouri and T Bone Burnett among those getting into the game.

Oren Rosenbaum at UTA represented Flowers and Matt Dysart handling for Parcast.

Check out the trailer for the new series here.

House Democrats to announce coronavirus economic relief package: aide

WASHINGTON (Reuters) – U.S. House Democratic leaders plan to unveil their coronavirus economic relief package later on Wednesday ahead of an expected floor vote on Thursday, according to a House leadership aide.

The proposal comes as the Trump administration has been in talks with House Speaker Nancy Pelosi on possible legislative measures to help provide economic assistance as the number of coronavirus cases in the United States grows.

E3 Cancels 2020 Edition Over Coronavirus Fears

Organizers of the annual Electronic Entertainment Expo, known as E3, has canceled its 2020 edition set for June 9-11 in Los Angeles. It becomes the latest major industry event to shutter amid the worldwide coronavirus outbreak.

“After careful consultation with our member companies regarding the health and safety of everyone in our industry – our fans, our employees, our exhibitors and our longtime E3 partners – we have made the difficult decision to cancel E3 2020, scheduled for June 9-11 in Los Angeles,” the Entertainment Software Association said Wednesday in a statement.

“Following increased and overwhelming concerns about the COVID-19 virus, we felt this was the best way to proceed during such an unprecedented global situation. We are very disappointed that we are unable to hold this event for our fans and supporters. But we know it’s the right decision based on the information we have today.

The group said it will reaching out directly to exhibitors and attendees with information about refunds for the annual event, which spotlights the computer and gaming industries. It also said it is “exploring options with our members to coordinate an online experience to showcase industry announcements and news in June 2020.”

Sweden reports first death from coronavirus

STOCKHOLM (Reuters) – Sweden reported its first death from the new coronavirus on Wednesday with a hospital in Stockholm saying an elderly patient had died in intensive care.

“The patient has had COVID-19 as well as an underlying sickness,” the Karolinska University Hospital in Huddinge, just outside Stockholm, said in a statement.

Sweden reported its first case of coronavirus at the end of January.