Mass Testing In US Jails Identifies 12 Times More COVID Cases

Mass testing in 16 U.S. prisons and jails identified 12 times more cases of coronavirus than when testing was offered based on symptoms alone, according to the latest MMWR report by Centers for Disease Control and Prevention.

Median prevalence was three times higher in dormitory-based than in cell-based housing, the report says.

COVID-19 outbreaks in U.S. correctional and detention facilities are difficult to contain because of population-dense housing and limited space for medical isolation and quarantine. Testing in these settings has often been limited to symptomatic persons.

With 1,125 additional deaths in the last 24 hours, COVID casualties in the United States increased to 174306, Johns Hopkins University’s latest data shows.

With 49,209 new cases, the total number of infected cases in the country rose to 5579142.

Stock Alert: Vmware Shares Up On Better-Than-Expected Q2

Shares of VMware Inc. (VMW), which have been trading in the range of $86.00 – $173.37 for the past one year, are currently trading at $145.63, up $2.74 or 1.91% Friday morning.

The company reported Q2 GAAP net income of $447 million or $1.06 per share compared to $5.30 billion or $12.47 per share, for the second quarter of fiscal 2020 a year ago.

Non-GAAP net income was $766 million or $1.81 per share, higher than the previous year’s $650 million or $1.53 per share last year.

Revenue for the quarter was $2.9 billion, an increase of 9%, compared to $2.6 billion generated in the same period of last year.

Analysts polled by Thomson Reuters expected earnings of $1.45 per share on revenue of $2.8 billion for the quarter. Analysts’ estimate typically exclude certain special items.

“Our performance in Q2 reflected strength in our Subscription and SaaS product offerings, which grew 44% year-over-year,” said Zane Rowe, executive vice president and CFO, VMware. “We plan to accelerate certain product initiatives through the remainder of the year, which will further support customers’ digital transformations and grow our Subscription and SaaS product offerings.”

Stock Alert: Hibbett Sports Climbs On Quarterly Results

Shares of athletic-inspired fashion retailer Hibbett Sports, Inc. (HIBB) are climbing more than 6% Friday morning on positive earnings surprise.

The stock hit a new high of $32.90 this morning.

The company reported adjusted earnings of $2.95 per share in the second quarter compared with loss of $0.13 per share last year on sales growth. Analysts polled by Thomson Reuters expected earnings of $1.15 per share.

Net sales for the quarter increased 74.9% year-over-year to $441.6 million. The consensus estimate was for $349.58 million.

Starbucks Encouraging Employees, Customers To Vote

Starbucks is joining with Walmart and other companies in supporting employees making a plan to vote, pledging no employee will have to choose between their shift and election day.

The coffee giant’s CEO Kevin Johnson unveiled the company’s plan to support partners and customers to register to vote.

In a letter to partners, Johnson wrote, “The upcoming election is a reminder that we, as citizens, play an active role in our society by simply getting involved and voting. Who you vote for is a very personal decision that you make as a citizen. It is one way for you to be heard. It is how democracy works.”

As part of its plan, Starbucks urged its nearly 200,000 partners to talk with managers to help ensure they have the tools and the time necessary to register and cast their vote.

The company further suggests that through a partnership with Civic Alliance, partners can volunteer with their local election authority as non-partisan poll workers.

In September, the company through the Starbucks App will provide resources and information on how and where customers can to register to vote.

The company said it is taking these steps to promote equity, justice and community resiliency.

As per reports, Walmart and Apple will give few hours off to their workers to vote, while some other companies including Coca-Cola, Twitter, Cisco and Uber are planning to give employees the day off.

Fed’s Kaplan Says He Wants to Wait Before Giving More Guidance

The Federal Reserve has already given enough guidance about the likely path of interest rates at this juncture and doesn’t need to offer more, Dallas Fed President Robert Kaplan said.

“I would prefer to wait,” Kaplan said Friday during a Bloomberg Television interview with Michael McKee. “I would prefer to get more clarity on the path of the virus. I think we’ve already given quite a bit of forward guidance.”

The Fed’s quarterly projections “have already said that rates are going to stay low for the rest of this year and all of next year, and I would prefer to show some restraint here,” he said.

Officials will publish a fresh update of the projections at the conclusion of their upcoming Sept. 15-16 meeting.

Kaplan’s comments follow the U.S. central bank’s announcement Thursday that it had updated its policy strategy for achieving its employment and inflation goals. Fed officials say they are now trying to keep inflation near 2% on average over time, which means they will likely seek to run inflation above target following periods of below-target inflation.

Minutes of their last policy meeting in July showed that a number of Fed officials thought “providing greater clarity regarding the likely path of the target range for the federal funds rate would be appropriate at some point.”

US to hold high-level talks with Australia, Japan and India

WASHINGTON (REUTERS) – The United States plans high-level talks with its “Quad” security partners from India, Australia and Japan in September and October, President Donald Trump’s national security adviser, Robert O’Brien, said on Friday (Aug 28).

O’Brien told the Atlantic Council think tank he would likely meet his opposite numbers from those countries in Hawaii in October, while Secretary of State Mike Pompeo would meet his counterparts from the so-called Quad in September and October.