Two planned NFL stadiums, in LA and Vegas, have projected costs higher than $2 billion — and it's unlikely they will have a positive impact on the local economy.Read More »
Advanced Micro Devices Inc. has been quietly working on a program to help Tesla Inc. design its own self-driving car chips, CNBC reports, citing unnamed sources. AMD (Nasdaq: AMD) shares had been trading at around $13 apiece late Wednesday afternoon, before news outlets reported on the hush-hush partnership. The stock opened Thursday at around $14 per share, a rapid jump in such a short period, before falling to around $13.70 by 10:30 a.m. Go here to track AMD's shares. Meanwhile, shares of current Tesla chip partner Nvidia Corp. (Nasdaq: NVDA) were down about 3 percent at mid-morning. Tesla (Nasdaq: TSLA) previously said it wants to own the major parts of its supply chain, so that it doesn’t
DowDuPont (DWDP), formed by the recent merger of Dow Chemical Co. and DuPont, announced Sept. 21 that its Materials Science business started up two recently completed projects in Freeport, south of Houston. The new integrated world-scale ethylene production facility and Elite enhanced polyethylene production facility will continue to ramp up and are expected to reach full rates in the final quarter of the year. The projects are central components of Dow’s U.S. Gulf Coast investments, part of the company $12 billion in U.S. growth investments over a 10-year period .
Toymaker Jakks Pacific Inc. said because of the Toys ‘R’ Us bankruptcy filing, it has downgraded its outlook for its fiscal year and is now expecting to book a loss for 2017. Santa Monica, California-based Jakks Pacific(Nasdaq: JAKK) said although it doesn’t expect any long-term material adverse impact from the Toys ‘R’ Us bankruptcy, the company now expects to sustain a net loss for the year. Jakks said the loss includes cash charges related to the write-off of bad debt and minimum guarantee shortfalls, and non-cash charges related to the impairment of certain assets including goodwill from acquisitions. The company said the uninsured portion of debt owed by Toys ‘R’ Us represents only about 3 percent of its outstanding accounts receivables as of Sept.18.