NOVI, Mich., July 29, 2020 /PRNewswire/ — 2020 Second-Quarter Results Loss per share (“EPS”) of ($0.81) Adjusted EPS of ($0.55) Sales of $99.5 million Gross profit of $13.3 million Adjusted gross profit of $14.4 million (14.5% of sales) Operating loss of ($26.8) million Adjusted operating loss of ($19.1) million ((19.2%) of sales) Adjusted EBITDA… Continue reading Stoneridge Reports Second-Quarter 2020 Results
Category: News Type
Thrive Adds $257M, Plans Pivotal Trial of Early Cancer Detection Test
July 29th, 2020 Xconomy National — Thrive Earlier Detection, one of the companies vying to be the first to commercialize a blood test that can uncover cases of cancer before symptoms arise, has raised $257 million and announced plans to evaluate its CancerSEEK test in a registrational study. Many cancers grow silently, and once malignant… Continue reading Thrive Adds $257M, Plans Pivotal Trial of Early Cancer Detection Test
Tesla begins construction on world’s largest Megapack project for PG&E
PG&E announced that it started construction with Tesla on a giant Megapack project deployed at the electric substation in Moss Landing in Monterey County, California. We first learned of the project at PG&E’s Moss Landing substation when they submitted it to CPUC and the company was in talks with Tesla in 2017. It involves four separate energy storage projects and two… Continue reading Tesla begins construction on world’s largest Megapack project for PG&E
NVIDIA Breaks 16 AI Performance Records in Latest MLPerf Benchmarks
NVIDIA delivers the world’s fastest AI training performance among commercially available products, according to MLPerf benchmarks released today. The A100 Tensor Core GPU demonstrated the fastest performance per accelerator on all eight MLPerf benchmarks. For overall fastest time to solution at scale, the DGX SuperPOD system, a massive cluster of DGX A100 systems connected with… Continue reading NVIDIA Breaks 16 AI Performance Records in Latest MLPerf Benchmarks
GM to increase production at Fort Wayne truck plant
Detroit — General Motors Co. is increasing production at its Fort Wayne, Indiana, assembly plant in September to meet consumer demand for its pickups, according to a plant communication from Gary Duff, plant executive director. In the July 28-dated communication obtained by The Detroit News, Duff wrote that the plant would increase daily production levels of… Continue reading GM to increase production at Fort Wayne truck plant
GM prodded to catch electric-car zeitgeist with name change
David Welch and Chester Dawson, Bloomberg Published 1:56 p.m. ET July 29, 2020 | Updated 2:02 p.m. ET July 29, 2020 General Motors Co. has weathered depressions, wars and pandemics under its century-old name, but the coming shift to battery-powered vehicles may be an opportunity to rethink its generic-sounding corporate moniker in favor of something… Continue reading GM prodded to catch electric-car zeitgeist with name change
GM posts $800 million loss in 2Q, to end salary cuts
Detroit — General Motors Co. burned $7.8 billion in the second quarter navigating the coronavirus pandemic, but the Detroit automaker still beat Wall Street expectations and is hopeful it can pay down debt and generate cash going forward. GM reported a second-quarter income loss of nearly $800 million on revenue of $16.8 billion in the second quarter, even as it declined to provide guidance for… Continue reading GM posts $800 million loss in 2Q, to end salary cuts
Nissan expects second straight year of red ink amid outbreak
Yuri Kageyama, AP Business Writer Published 9:18 p.m. ET July 28, 2020 Tokyo – Nissan reported a 285.6 billion yen ($2.7 billion) loss for April-June, as the Japanese automaker’s sales crashed amid the coronavirus pandemic and it struggled to recover from the loss of its former star executive Carlos Ghosn. Nissan Motor Co. racked up… Continue reading Nissan expects second straight year of red ink amid outbreak
Online sales remain important to dealers as restrictions begin to lift
The shift to e-commerce has gained significant momentum during the lockdown, as dealers rushed to get online sale capabilities set up to be able to sell stock and keep money coming into their businesses. Now, with showrooms open under social distancing protocols, the online aspect of the car dealership remains important as many customers are… Continue reading Online sales remain important to dealers as restrictions begin to lift
Imperial acquisition a “core part” of Cazoo’s strategy, says CEO
Cazoo is a name that has caught the attention of many since its launch in December 2019 as it became the fastest ever British “Unicorn” (start-ups with a notional value of over a billion dollars). In late June Cazoo gained £25m in its latest round of funding, with new investor Draper Esprit joining existing investors… Continue reading Imperial acquisition a “core part” of Cazoo’s strategy, says CEO