/PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by QuantumScape… Pima County was given $87 million from the federal government through the CARES act. Lululemon (LULU) is higher after Deutsche Bank called the apparel retailer a “catalys call: buy idea”
ADDIS ABABA, Jan. 4 (Xinhua) — The Ethiopian Ministry of Health on Monday reported 297 new COVID-19 cases over the last 24 hours, as the total number of confirmed cases hit 125,919 in the country.
The ministry said the number of COVID-19 related deaths in the country reached 1,950 as of Monday evening, including two new COVID-19 related deaths reported during the last 24-hour period.
The ministry said that some 112,610 patients who tested positive for COVID-19 had recovered so far, including 243 in the last 24-hour period.
It also said that some 11,357 of the total reported COVID-19 cases are active cases, of which 262 of the patients are said to be under severe conditions.
According to the ministry, the new cases were discovered out of 4,157 COVID-19 medical tests that were conducted in the east African country during the last 24 hours.
Ethiopia had conducted 1,822,122 COVID-19 medical tests so far, the ministry noted.
Ethiopia, Africa’s second-most populous nation with about 107 million people, has the highest number of COVID-19 cases in the east African region.
Ethiopia is the fifth-most COVID-19 affected country in the African continent, after South Africa, Morocco, Tunisia and Egypt. Enditem
QuantumScape (QS) Investigation Alert: Did You Lose Money on Your Investment? Contact Johnson Fistel Regarding Investigation
SAN DIEGO, Jan. 5, 2021 /PRNewswire/ — Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by QuantumScape Corporation (“QuantumScape” or the “Company”) (NYSE: QS).
Johnson Fistel’s investigation seeks to determine whether the Company issued false or misleading statements or failed to disclose information relevant to investors. On January 4, 2021, Seeking Alpha published an article highlighting several risks with QuantumScape’s solid-state batteries that make it “completely unacceptable for real world field electric vehicles.” Following this news, QuantumScape’s stock price plummeted 40.84% on January 4, 2021.
If you have information that could assist in this investigation, or if you are a QuantumScape shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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Pima County seeks more financial relief due to COVID-19
TUCSON – Pima County was given $87 million from the federal government through the CARES Act. Now, that COVID-19 fund is empty and the county has actually spent more than they were given.
As of Dec. 31, Pima County had spent over $99 million dollars on COVID-19 expenses and they estimate they’ll need another $55 million in funds to continue some of the pandemic programs through June.
In a memo, Pima County Administrator Chuck Huckleberry says the testing and contact tracing, as well as, county personnel are the largest expenses, while they also cover items such as food security, utility assistance and small business support.
So far, they estimate they’ve gone over their CARES Act funding by about $15 million. That was in order to provide COVID-19 services that will continue such as vaccination distribution and testing.
“To get results, in many cases less than 24 hours but certainly less than 48 hours which makes contact tracing possible and meaningful,” said Pima County Supervisor Matt Heinz.
Without more funding from the government, they will have to dip into the general fund. According to Huckleberry, the county can absorb the $55 million from their general fund but not without consequences, he says in part,
“(This) means less funding available for any other purpose and that existing programs and department for those general fund agencies will continue to be reduced.”
Some potential actions to maintain the ability to care for COVID-19 patients is to stop elective surgeries, something Banner hospitals have already done.
“They are not able to do the same number of elective surgeries, therefore that could endanger folks in the community that don’t have anything to do with COVID,” said Heinz.
The county has put in a request to the congressional delegation to assist in a rapid determination of what extra funds the county can receive.
Author: Mark Mingura
Lululemon Stock Moves Higher Following Deutsche Bank Praise – Schaeffer’s Investment Research
The shares of Lululemon Athletica Inc (NASDAQ:LULU) are up 0.7% at $358.75 at last check, after Deutsche Bank named the security a “catalyst call: buy idea” as a short-term investment. The analyst in question said the athletic apparel retailer was one of this holiday shopping season’s outperformers, and expects LULU to report positive quarterly earnings.
On the charts, Lululemon stock has been cooling off from a Sept. 2 all-time-high of $399.89. Though shares spent most of 2020 surging, the equity has been struggling with overhead pressure at the $390 level over the past couple of months. Still, the ascending 120-day moving average has contained several of the security’s latest pullbacks, and LULU is up 52.7% year-over-year.
Analysts were already majorly optimistic toward the security coming into today, with 19 of the 28 in question carrying a “buy” or better rating, while nine called it a tepid “hold.” Plus, the 12-month consensus price target of $403.86 is a 12.4% premium to current levels.
The options pits echo that optimism, with calls popular. This is per Lululemon stock’s 10-day call/put volume ratio of 1.64 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 72% of readings from the past year. This means there is a healthier-than-usual appetite for long calls of late.
Now could be a good opportunity to take advantage of LULU’s next move with options. The stock’s Schaeffer’s Volatility Index (SVI) of 47% sits in the low 24th percentile of its annual range, indicating the equity sports attractively priced premiums at the moment.
Lastly, the security’s Schaeffer’s Volatility Scorecard (SVS) stands at an elevated 89 out of 100. In other words, LULU has exceeded option traders’ volatility expectations during the past year — a boon for options buyers.
Author: Fernanda Horner