Cenntro Delivers 71 Special Edition Logistar ® 450P All-Electric Buses to the European Market
The LS450P units are part of a larger order received in early 2025 and represent a collaborative development between Cenntro and QEV. This special edition model received European Union M2 Type Approval, allowing its use for short-distance shuttle and public transportation services across Europe. The certification underscores the LS450P's compliance with stringent safety and performance standards, further strengthening the Company's competitive position in the European market.
The Company intends to continue production and deliveries of the LS450P in order to fulfill the remainder of the QEV order and plans to respond to any market demands for LS450P from distributors across Europe and other global markets.
'The LS450P is a unique all-electric bus purpose-built for shuttle and public transport applications,' explained Peter Wang, Chairman and CEO of Cenntro. 'We believe its distinctive specifications and compelling value proposition set it apart from the competition and will bolster consumer interest for the LS450P not only in Europe but from other regions as well, affirming the global potential of this platform.'
About Cenntro
Cenntro (NASDAQ: CENN) is a pioneering maker and provider of electric commercial vehicles ('ECVs'). Cenntro's purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. For more information, please visit Cenntro's website at: www.cenntroauto.com.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may," "believe," "anticipate," "could," "should," "intend," "plan," "will," "aim(s)," "can," "would," "expect(s)," "estimate(s)," "project(s)," "forecast(s)," "positioned," "approximately," "potential," "goal," "strategy," "outlook" and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro's forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 1, 2025 and which may be viewed at www.sec.gov.
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Economic data: FOMC Minutes (July 30-31 meeting); MBA weekly mortgage applications Earnings: Target (TGT), Baidu (BIDU), Lowe's (LOW), TJX Companies (TJX), Estée Lauder (EL) Here are some of the biggest stories you may have missed overnight and early this morning: Target earnings miss the mark as sales keep falling Target will have a new CEO for the first time since 2014 Intel's Trump deal perks may rival the money Buffett effect still holds as UnitedHealth soars through August This summer's hottest trend on Wall Street: 'Private for longer' US housing warning sparks worst James Hardie selloff since 1973 US treasury chief says status quo with China 'working pretty well' Sales of foreign-branded phones in China down 31.3% in June: Data China exports of key rare-earth EV magnets hit 6-month high Target will have a new CEO... and he will not have it easy Target (TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history. The discounter announced that longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. "I've had this conversation with the board for a number of years, and I've been in the role for 11 years. I'm going into my 12th now. I will actually turn 67 early next year, and I think it's time for me to step back, recharge, spend a lot more time with my family, a lot fewer nights in hotels, and be a great supporter of Michael and the team for the rest of my life," Cornell told me by video call while sitting next to Fiddelke at the company's Minneapolis headquarters. Fiddelke added, "I bleed Target red after 20 years here, and there's nothing more important to me than working with the incredible team that we have to chart the next chapter for Target. I mean, I've seen us in that 20 years at our best. I've seen us not at our best. When we're at our best, we are pretty darn tough to beat." To students of Target history such as myself, this decision isn't a surprise. For one, Fiddelke has been Cornell's right-hand man for several years now. It has become quite apparent over the past year that he was grooming Fiddelke to take over while also working behind the scenes to get board buy-in. I have gotten to know Fiddelke in recent years. He is a nice fella and has indeed earned the opportunity to sit in the CEO seat. If this was any other time for Target, the decision would probably be celebrated. It's not often an intern at a company becomes its CEO. The only comparable story I can think of is Walmart (WMT) CEO Doug McMillon going from truck loader at the retailer to CEO. But Fiddelke will unlikely have a honeymoon period, seeing as he has been there at Target during its past 24 months of struggles (which includes a weak second quarter). People I have talked to wanted an outsider as Target's next CEO, fresh eyes to come in and fix what is wrong (not unlike when Cornell was brought in back in 2014 — his career was mostly spent at Walmart and PepsiCo (PEP)). Fiddelke will be seen as a continuation of a strategy that hasn't been working. I asked him on the call how candid he plans to be in the early going on the strategy review, which is what all new leaders do. He sounded like he was ready to divert from Cornell's playbook and shake things up. He will have to do just that, and quickly, to win over a likely skeptical Wall Street. US tech stocks hit by concerns over future of AI boom Wall Street is digging into the factors behind this week's selloff in tech stocks, with many seeing it as a timely rotation out of riskier names. There are a few potential triggers, the Financial Times reports: Read more here (premium) Tech, chip stock sell-off continues as AI bubble fears mount Yahoo Finance's Laura Bratton reports: Tech stocks fell for a second day on Wednesday as investors sold off a slew of tech names amid concerns over the sustainability of the AI boom and a recent market rotation away from some of this year's biggest winners. Among the Magnificent Seven Big Tech stocks, Nvidia (NVDA) was down about 0.3%, and Alphabet (GOOGL, GOOG) stock fell more than 1%. Amazon (AMZN) and Apple (AAPL), shares fell over 1%. Chip stocks Advanced Micro Devices (AMD) and Broadcom (AVGO) both fell less than 1%; Micron (MU) shares plummeted nearly 4%. Read more here. Yahoo Finance's Laura Bratton reports: Tech stocks fell for a second day on Wednesday as investors sold off a slew of tech names amid concerns over the sustainability of the AI boom and a recent market rotation away from some of this year's biggest winners. Among the Magnificent Seven Big Tech stocks, Nvidia (NVDA) was down about 0.3%, and Alphabet (GOOGL, GOOG) stock fell more than 1%. Amazon (AMZN) and Apple (AAPL), shares fell over 1%. Chip stocks Advanced Micro Devices (AMD) and Broadcom (AVGO) both fell less than 1%; Micron (MU) shares plummeted nearly 4%. Read more here. Retail traders double down on Palantir despite recent stock slide Palantir (PLTR) shares dropped another 1% on Wednesday following a sharp 9% slide on Tuesday. But retail investors saw the drop as a buying opportunity. 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"Retail has gotten to be such a huge percentage of the market in terms of day-to-day trading," Interactive Brokers chief strategist Steve Sosnick told Yahoo Finance on Wednesday. "But if a series of institutions decide to reallocate their portfolio holdings, you're standing in the way of a much larger piece of momentum." "Collectively, a whole lot of small traders can push back, but if [institutions] are relentless about the selling, that's going to move the market lower.' Sosnick called Palantir's 9% plunge a 'shocking move down,' but also pointed out that the stock's meteoric rise has left it trading at "about as expensive of a stock as we've seen." James Hardie stock collapses 35% as US housing slump hits building materials Yahoo Finance's Ines Ferre reports: James Hardie (JHX) stock tumbled 35% on Wednesday as the maker of high-end home siding pointed to a weak US housing market and homeowners reluctant to spend on big projects. The stock, listed in the US and Australia, saw its biggest one-day drop since 1973, according to Bloomberg data. The company's profit declined 28% year over year during its fiscal first quarter. Net sales tumbled 9% over the same period. "Uncertainty is a common thread throughout conversations with customer and contractor partners," CEO Aaron Erter said during the company's earnings call. James Hardie pointed to "softer demand," citing a slowdown in single-family construction activity, especially in the southern part of the US. Read more here. Yahoo Finance's Ines Ferre reports: James Hardie (JHX) stock tumbled 35% on Wednesday as the maker of high-end home siding pointed to a weak US housing market and homeowners reluctant to spend on big projects. The stock, listed in the US and Australia, saw its biggest one-day drop since 1973, according to Bloomberg data. The company's profit declined 28% year over year during its fiscal first quarter. Net sales tumbled 9% over the same period. "Uncertainty is a common thread throughout conversations with customer and contractor partners," CEO Aaron Erter said during the company's earnings call. James Hardie pointed to "softer demand," citing a slowdown in single-family construction activity, especially in the southern part of the US. Read more here. Fed minutes show majority of officials more concerned about inflation than employment Minutes from the Federal Reserve's July meeting showed the "majority" of officials were more concerned about the upside risk to inflation than downside risks to the Fed's mandate for maximum employment. "Regarding upside risks to inflation, participants pointed to the uncertain effects of tariffs and the possibility of inflation expectations becoming unanchored," the minutes read. "In addition to tariff-induced risks, potential downside risks to employment mentioned by participants included a possible tightening of financial conditions due to a rise in risk premiums, a more substantial deterioration in the housing market, and the risk that the increased use of AI in the workplace may lower employment." Read more about the Fed minutes here. Minutes from the Federal Reserve's July meeting showed the "majority" of officials were more concerned about the upside risk to inflation than downside risks to the Fed's mandate for maximum employment. "Regarding upside risks to inflation, participants pointed to the uncertain effects of tariffs and the possibility of inflation expectations becoming unanchored," the minutes read. "In addition to tariff-induced risks, potential downside risks to employment mentioned by participants included a possible tightening of financial conditions due to a rise in risk premiums, a more substantial deterioration in the housing market, and the risk that the increased use of AI in the workplace may lower employment." Read more about the Fed minutes here. Eight sectors are outperforming the S&P 500 on Wednesday Citi head of US equity trading strategy Stuart Kaiser noted on Tuesday that the recent pain the stock market has "remained localized." And that's holding true on Wednesday too despite a roughly 1% decline in the Nasdaq Composite. The pain is mostly in technology and other related areas of the market with eight of 11 sectors in the S&P 500 (^GSPC)outperforming the benchmark index. While the size of tech in the index is pulling down the overall S&P 500 there are actually still 265 stocks in positive territory with a little over two hours left in the trading session. For now the rotation in the market isn't shaking a bullish stance from Kaiser who remains positive on US equities with a "quality preference." Below is a look at the sector action thus far in Wednesday's trade. Citi head of US equity trading strategy Stuart Kaiser noted on Tuesday that the recent pain the stock market has "remained localized." And that's holding true on Wednesday too despite a roughly 1% decline in the Nasdaq Composite. The pain is mostly in technology and other related areas of the market with eight of 11 sectors in the S&P 500 (^GSPC)outperforming the benchmark index. While the size of tech in the index is pulling down the overall S&P 500 there are actually still 265 stocks in positive territory with a little over two hours left in the trading session. For now the rotation in the market isn't shaking a bullish stance from Kaiser who remains positive on US equities with a "quality preference." Below is a look at the sector action thus far in Wednesday's trade. Google unveils latest Pixel phones, including foldable Pixel 10 Pro Fold Yahoo Finance's Dan Howley reports: Google (GOOG, GOOGL) announced its latest line of Pixel smartphones on Wednesday as part of its Made By Google event in New York City on Wednesday. The Pixel 10 lineup includes four phones: the Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and Pixel 10 Pro Fold. The company also showed off its newest smartwatch, the Pixel Watch 4. The devices get Google's latest Gemini AI capabilities, including the company's new Magic Cue for its smartphones and enhanced smart replies for the watch. Starting at $799, the entry-level Pixel 10 now comes with three rear cameras, up from two. That includes a 5x telephoto camera. Inside, the 6.3-inch phone gets Google's latest Tensor G5 processor, 12GB of RAM, and upwards of 256GB of storage. The Pixel 10 Pro starts at $999 and gets a sharper 6.3-inch display and more-advanced triple-camera setup. And while the phone packs the same Tensor G5 processor as the standard Pixel 10, the Pro sports 16GB of RAM rather than 12GB and offers up to 512GB of storage. Read more here. Yahoo Finance's Dan Howley reports: Google (GOOG, GOOGL) announced its latest line of Pixel smartphones on Wednesday as part of its Made By Google event in New York City on Wednesday. The Pixel 10 lineup includes four phones: the Pixel 10, Pixel 10 Pro, Pixel 10 Pro XL, and Pixel 10 Pro Fold. The company also showed off its newest smartwatch, the Pixel Watch 4. The devices get Google's latest Gemini AI capabilities, including the company's new Magic Cue for its smartphones and enhanced smart replies for the watch. Starting at $799, the entry-level Pixel 10 now comes with three rear cameras, up from two. That includes a 5x telephoto camera. Inside, the 6.3-inch phone gets Google's latest Tensor G5 processor, 12GB of RAM, and upwards of 256GB of storage. The Pixel 10 Pro starts at $999 and gets a sharper 6.3-inch display and more-advanced triple-camera setup. And while the phone packs the same Tensor G5 processor as the standard Pixel 10, the Pro sports 16GB of RAM rather than 12GB and offers up to 512GB of storage. Read more here. Hertz stock jumps on deal to sell its used cars on Amazon Yahoo Finance's Pras Subramanian reports: Rental car firm Hertz (HTZ) struck a deal with Amazon Autos (AMZN) on Wednesday to sell some of its used car inventory. The company said this will make it easier for customers to purchase cars from its fleet. Starting today, customers can search Amazon Autos to browse, finance, and purchase from thousands of used Hertz fleet vehicles from brands like Ford, Toyota, Chevrolet, Nissan, and others. Hertz Car Sales, the rental car firm's used car sales arm, will be the first fleet dealer on Amazon Autos. Hertz said sales will begin in the Dallas, Houston, Los Angeles, and Seattle metro areas, with plans to expand to Hertz Car Sales' 45 locations nationwide. After customers complete their purchase online, they can pick up the vehicles at Hertz locations in those cities. Read more here. Yahoo Finance's Pras Subramanian reports: Rental car firm Hertz (HTZ) struck a deal with Amazon Autos (AMZN) on Wednesday to sell some of its used car inventory. The company said this will make it easier for customers to purchase cars from its fleet. Starting today, customers can search Amazon Autos to browse, finance, and purchase from thousands of used Hertz fleet vehicles from brands like Ford, Toyota, Chevrolet, Nissan, and others. Hertz Car Sales, the rental car firm's used car sales arm, will be the first fleet dealer on Amazon Autos. Hertz said sales will begin in the Dallas, Houston, Los Angeles, and Seattle metro areas, with plans to expand to Hertz Car Sales' 45 locations nationwide. After customers complete their purchase online, they can pick up the vehicles at Hertz locations in those cities. Read more here. KeyBanc warns China headwinds could prompt an Nvidia earnings miss Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Big Tech is getting hammered again Tuesday's market action was all about isolated selling in some of the market's biggest winners. Wednesday's early session has brought more of the same, as Big Tech is clearly leading the selling action once more. After a nearly 10% drop on Tuesday, Palantir (PLTR) fell another 7% in early trade. Meanwhile, AI chip leaders Nvidia (NVDA) and Broadcom (AVGO) each dropped more than 3%. Tuesday's market action was all about isolated selling in some of the market's biggest winners. Wednesday's early session has brought more of the same, as Big Tech is clearly leading the selling action once more. After a nearly 10% drop on Tuesday, Palantir (PLTR) fell another 7% in early trade. Meanwhile, AI chip leaders Nvidia (NVDA) and Broadcom (AVGO) each dropped more than 3%. Trump says Fed governor Cook 'must resign' as pressure campaign on central bank continues President Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign as the public pressure on the central bank continues to build. "Cook must resign, now!!!" Trump wrote on his social media platform Truth Social Wednesday morning with a link to a Bloomberg report on a letter sent by Bill Pulte. The Federal Housing Finance Agency head has reportedly urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages. Pulte wrote in a letter dated Aug. 15 that Cook 'falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.' The President's call for Cook to resign comes as pressure on the Fed continues amid ongoing changes on the Fed's Board of Governors. Read more here. President Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign as the public pressure on the central bank continues to build. "Cook must resign, now!!!" Trump wrote on his social media platform Truth Social Wednesday morning with a link to a Bloomberg report on a letter sent by Bill Pulte. The Federal Housing Finance Agency head has reportedly urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages. Pulte wrote in a letter dated Aug. 15 that Cook 'falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.' The President's call for Cook to resign comes as pressure on the Fed continues amid ongoing changes on the Fed's Board of Governors. Read more here. Nasdaq leads indexes lower again at the open US stocks were mixed on Wednesday after a bruising day for tech stocks, as investors weighed the latest retail earnings and waited for Federal Reserve minutes to provide clues to interest rate cuts. The Dow Jones Industrial Average (^DJI) was up about 0.1%, while the S&P 500 (^GSPC) slipped about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) fell roughly 0.4%, after weakness in the likes of Palantir (PLTR) and Nvidia (NVDA) dragged on the broader market on Tuesday. US stocks were mixed on Wednesday after a bruising day for tech stocks, as investors weighed the latest retail earnings and waited for Federal Reserve minutes to provide clues to interest rate cuts. The Dow Jones Industrial Average (^DJI) was up about 0.1%, while the S&P 500 (^GSPC) slipped about 0.2%. The tech-heavy Nasdaq Composite (^IXIC) fell roughly 0.4%, after weakness in the likes of Palantir (PLTR) and Nvidia (NVDA) dragged on the broader market on Tuesday. Post-earnings market movers: Target and La-Z-Boy stocks dive, Lowe's rises Here's a look at how Wall Street is reacting to a burst of earnings reports ahead of the opening bell on Wednesday: Target (TGT) stock dived more than 10%, facing its worst sell-off since early April. The retailer cleared a low bar of earnings expectations, but comparable sales continued to fall during the quarter. Lowe's (LOW) stock rose 2.5%. The home improvement retailer reported a return to same-store sales growth, echoing positive results from Home Depot (HD) on Tuesday. Home Depot stock fell 1.3% before the bell. Estée Lauder (EL) shares fell 5%. The beauty company's annual profit forecast disappointed and executives said they expect a $100 million headwind from tariffs. Baidu (BIDU) shares edged 0.2% lower. The Chinese search engine company reported a drop in second quarter revenue as strong growth in cloud services was offset by weakness in its core advertising business. Toll Brothers (TOL) stock added 0.45%. The homebuilder reported an earnings and revenue beat on Tuesday afternoon, though new orders were less than analysts' expected. La-Z-Boy (LZB) stock tanked 20% after the company missed estimates amid soft demand. Sales for its Joybird furniture brand declined 14%. Read more live coverage of corporate earnings here Here's a look at how Wall Street is reacting to a burst of earnings reports ahead of the opening bell on Wednesday: Target (TGT) stock dived more than 10%, facing its worst sell-off since early April. The retailer cleared a low bar of earnings expectations, but comparable sales continued to fall during the quarter. Lowe's (LOW) stock rose 2.5%. The home improvement retailer reported a return to same-store sales growth, echoing positive results from Home Depot (HD) on Tuesday. Home Depot stock fell 1.3% before the bell. Estée Lauder (EL) shares fell 5%. The beauty company's annual profit forecast disappointed and executives said they expect a $100 million headwind from tariffs. Baidu (BIDU) shares edged 0.2% lower. The Chinese search engine company reported a drop in second quarter revenue as strong growth in cloud services was offset by weakness in its core advertising business. Toll Brothers (TOL) stock added 0.45%. The homebuilder reported an earnings and revenue beat on Tuesday afternoon, though new orders were less than analysts' expected. La-Z-Boy (LZB) stock tanked 20% after the company missed estimates amid soft demand. Sales for its Joybird furniture brand declined 14%. Read more live coverage of corporate earnings here Hertz to sell used cars on Amazon, stock jumps Hertz (HTZ) stock rose over 10% after the car rental company announced it is teaming up with Amazon (AMZN) to sell pre-owned vehicles. Customers will be able to browse Hertz used car sales on Amazon, purchase vehicles online, and then pick them up at select Hertz locations. It will initially be offered in Dallas, Houston, Los Angeles, and Seattle, with plans to expand to 45 locations nationwide. Hertz sells pre-owned cars in addition to renting them out. The company is in the midst of a turnaround, and shares have outperformed this year with a 42% year-to-date rise. Read more here. Hertz (HTZ) stock rose over 10% after the car rental company announced it is teaming up with Amazon (AMZN) to sell pre-owned vehicles. Customers will be able to browse Hertz used car sales on Amazon, purchase vehicles online, and then pick them up at select Hertz locations. It will initially be offered in Dallas, Houston, Los Angeles, and Seattle, with plans to expand to 45 locations nationwide. Hertz sells pre-owned cars in addition to renting them out. The company is in the midst of a turnaround, and shares have outperformed this year with a 42% year-to-date rise. Read more here. Intel's advantages from a Trump deal could be worth as much as the money What would it take for Intel (INTC) to turn its business around? Yahoo Finance's Hamza Shaban digs into that question in today's Morning Brief. Read more here. What would it take for Intel (INTC) to turn its business around? Yahoo Finance's Hamza Shaban digs into that question in today's Morning Brief. Read more here. This summer's hottest trend on Wall Street: 'Private for longer' Continuation funds have become hugely popular among America's biggest private fund managers this year. Yahoo Finance's David Hollerith breaks down why, and exactly how they work: Read more here. Continuation funds have become hugely popular among America's biggest private fund managers this year. Yahoo Finance's David Hollerith breaks down why, and exactly how they work: Read more here. Palantir stock on track to extend losing streak Palantir stock (PLTR) looks like it may extend its losing streak to six trading days after reaching an all-time high. Shares fell 3% in premarket trading on Wednesday after a 9% decline on Tuesday. Since hitting $186.97 per share on Aug. 12, the stock is now trading around $153, putting it 18% off its record closing high. Investors rotating out of large-cap tech names and a bearish report from short seller Citron Research have weighed on the stock. Read more here. Palantir stock (PLTR) looks like it may extend its losing streak to six trading days after reaching an all-time high. Shares fell 3% in premarket trading on Wednesday after a 9% decline on Tuesday. Since hitting $186.97 per share on Aug. 12, the stock is now trading around $153, putting it 18% off its record closing high. Investors rotating out of large-cap tech names and a bearish report from short seller Citron Research have weighed on the stock. Read more here. Target stock sinks after earnings eke out a beat, but sales keep falling Target's (TGT) results on Wednesday morning weren't as shockingly bad as for the first quarter, but the retailer is still struggling to find its place in the new economic norm of more discerning shoppers. Shares in the US retail giant sank 10% in premarket trading as the announcement of a new CEO still left investors wanting more. Yahoo Finance's Brian Sozzi reports: Read more here. Target's (TGT) results on Wednesday morning weren't as shockingly bad as for the first quarter, but the retailer is still struggling to find its place in the new economic norm of more discerning shoppers. Shares in the US retail giant sank 10% in premarket trading as the announcement of a new CEO still left investors wanting more. Yahoo Finance's Brian Sozzi reports: Read more here. Good morning. Here's what's happening today. Economic data: FOMC Minutes (July 30-31 meeting); MBA weekly mortgage applications Earnings: Target (TGT), Baidu (BIDU), Lowe's (LOW), TJX Companies (TJX), Estée Lauder (EL) Here are some of the biggest stories you may have missed overnight and early this morning: Target earnings miss the mark as sales keep falling Target will have a new CEO for the first time since 2014 Intel's Trump deal perks may rival the money Buffett effect still holds as UnitedHealth soars through August This summer's hottest trend on Wall Street: 'Private for longer' US housing warning sparks worst James Hardie selloff since 1973 US treasury chief says status quo with China 'working pretty well' Sales of foreign-branded phones in China down 31.3% in June: Data China exports of key rare-earth EV magnets hit 6-month high Economic data: FOMC Minutes (July 30-31 meeting); MBA weekly mortgage applications Earnings: Target (TGT), Baidu (BIDU), Lowe's (LOW), TJX Companies (TJX), Estée Lauder (EL) Here are some of the biggest stories you may have missed overnight and early this morning: Target earnings miss the mark as sales keep falling Target will have a new CEO for the first time since 2014 Intel's Trump deal perks may rival the money Buffett effect still holds as UnitedHealth soars through August This summer's hottest trend on Wall Street: 'Private for longer' US housing warning sparks worst James Hardie selloff since 1973 US treasury chief says status quo with China 'working pretty well' Sales of foreign-branded phones in China down 31.3% in June: Data China exports of key rare-earth EV magnets hit 6-month high Target will have a new CEO... and he will not have it easy Target (TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history. The discounter announced that longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. "I've had this conversation with the board for a number of years, and I've been in the role for 11 years. I'm going into my 12th now. I will actually turn 67 early next year, and I think it's time for me to step back, recharge, spend a lot more time with my family, a lot fewer nights in hotels, and be a great supporter of Michael and the team for the rest of my life," Cornell told me by video call while sitting next to Fiddelke at the company's Minneapolis headquarters. Fiddelke added, "I bleed Target red after 20 years here, and there's nothing more important to me than working with the incredible team that we have to chart the next chapter for Target. I mean, I've seen us in that 20 years at our best. I've seen us not at our best. When we're at our best, we are pretty darn tough to beat." To students of Target history such as myself, this decision isn't a surprise. For one, Fiddelke has been Cornell's right-hand man for several years now. It has become quite apparent over the past year that he was grooming Fiddelke to take over while also working behind the scenes to get board buy-in. I have gotten to know Fiddelke in recent years. He is a nice fella and has indeed earned the opportunity to sit in the CEO seat. If this was any other time for Target, the decision would probably be celebrated. It's not often an intern at a company becomes its CEO. The only comparable story I can think of is Walmart (WMT) CEO Doug McMillon going from truck loader at the retailer to CEO. But Fiddelke will unlikely have a honeymoon period, seeing as he has been there at Target during its past 24 months of struggles (which includes a weak second quarter). People I have talked to wanted an outsider as Target's next CEO, fresh eyes to come in and fix what is wrong (not unlike when Cornell was brought in back in 2014 — his career was mostly spent at Walmart and PepsiCo (PEP)). Fiddelke will be seen as a continuation of a strategy that hasn't been working. I asked him on the call how candid he plans to be in the early going on the strategy review, which is what all new leaders do. He sounded like he was ready to divert from Cornell's playbook and shake things up. He will have to do just that, and quickly, to win over a likely skeptical Wall Street. Target (TGT) is tapping a homegrown talent as its next CEO at one of the most pivotal moments in its 63-year history. The discounter announced that longtime CEO Brian Cornell's heavily groomed No. 2, Michael Fiddelke, will take over as CEO on Feb. 1, 2026. Cornell, who has been CEO of Target since August 2014, will slide into the executive chair position for an undetermined period of time. Fiddelke joined Target in 2003 as an intern and rose through the ranks to CFO and then COO. "I've had this conversation with the board for a number of years, and I've been in the role for 11 years. I'm going into my 12th now. I will actually turn 67 early next year, and I think it's time for me to step back, recharge, spend a lot more time with my family, a lot fewer nights in hotels, and be a great supporter of Michael and the team for the rest of my life," Cornell told me by video call while sitting next to Fiddelke at the company's Minneapolis headquarters. Fiddelke added, "I bleed Target red after 20 years here, and there's nothing more important to me than working with the incredible team that we have to chart the next chapter for Target. I mean, I've seen us in that 20 years at our best. I've seen us not at our best. When we're at our best, we are pretty darn tough to beat." To students of Target history such as myself, this decision isn't a surprise. For one, Fiddelke has been Cornell's right-hand man for several years now. It has become quite apparent over the past year that he was grooming Fiddelke to take over while also working behind the scenes to get board buy-in. I have gotten to know Fiddelke in recent years. He is a nice fella and has indeed earned the opportunity to sit in the CEO seat. If this was any other time for Target, the decision would probably be celebrated. It's not often an intern at a company becomes its CEO. The only comparable story I can think of is Walmart (WMT) CEO Doug McMillon going from truck loader at the retailer to CEO. But Fiddelke will unlikely have a honeymoon period, seeing as he has been there at Target during its past 24 months of struggles (which includes a weak second quarter). People I have talked to wanted an outsider as Target's next CEO, fresh eyes to come in and fix what is wrong (not unlike when Cornell was brought in back in 2014 — his career was mostly spent at Walmart and PepsiCo (PEP)). Fiddelke will be seen as a continuation of a strategy that hasn't been working. I asked him on the call how candid he plans to be in the early going on the strategy review, which is what all new leaders do. He sounded like he was ready to divert from Cornell's playbook and shake things up. He will have to do just that, and quickly, to win over a likely skeptical Wall Street. US tech stocks hit by concerns over future of AI boom Wall Street is digging into the factors behind this week's selloff in tech stocks, with many seeing it as a timely rotation out of riskier names. There are a few potential triggers, the Financial Times reports: Read more here (premium) Wall Street is digging into the factors behind this week's selloff in tech stocks, with many seeing it as a timely rotation out of riskier names. There are a few potential triggers, the Financial Times reports: Read more here (premium) Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
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Life Sciences BC's 10th Annual Invest in BC Conference Connects Industry Leaders
VANCOUVER, British Columbia--(BUSINESS WIRE)--Life Sciences British Columbia (LSBC) is proud to present the 10th Annual Invest in BC, powered by Lumira Ventures, taking place October 28–29, 2025 at the Vancouver Convention Centre West. Celebrating a decade of impact, Invest in BC has become a cornerstone event for the province's thriving life sciences sector. It brings together investors, entrepreneurs, researchers, and industry leaders for two days of high-impact networking, strategic partnering, and investment exploration. Whether attending to pitch, partner, or learn, participants will find unparalleled opportunities to connect and collaborate. 'Invest in BC is where innovation meets opportunity,' said Wendy Hurlburt, President and CEO of Life Sciences BC. 'This event brings together the full spectrum of our ecosystem—from early-stage ventures to global industry leaders—to spark conversations, build relationships, and accelerate the future of health.' Event Highlights: 30+ companies pitching across Biotech, MedTech, and Digital Health Dedicated partnering sessions for one-on-one meetings Exhibitor booths showcasing cutting-edge industry solutions Panels featuring ecosystem thought leaders Networking to spark meaningful connections Companies Selected to Pitch Include: Arbutus Medical, ARC Medical, AVEE HEALTH, Bold Therapeutics, Careteam Technologies, eSense Health, Evolved Therapeutics, Eyam Health, EyecareX, GuideStar Medical Devices, HTuO Biosciences, Ikomed, ImageCyte Technologies, Integrated Nanotherapeutics, Kapoose Creek Bio, Molecular You, NZ Technologies, Optigo Biotherapeutics, Pramana Pharmaceuticals, Redwood AI, Reverb Therapeutics, Seragene Therapeutics, Sonic Incytes, Sonus Microsystems, Sustained Therapeutics, Total Flow Medical, Variational AI, Vesalius Cardiovascular, ViewsML Technologies, VoxCell BioInnovation, and Zymeworks. "British Columbia's world-leading life sciences and biomanufacturing ecosystem continues to thrive, with B.C. companies making lives better globally," said Ravi Kahlon, Minister of Jobs and Economic Growth. "As uncertainty and anti-science sentiment grow south of our borders, B.C. remains a stable, science-driven jurisdiction committed to life sciences research and commercialization. We're making it easier than ever for companies to do business in the province. I invite investors and entrepreneurs to join the momentum and grow their businesses in B.C." Thank You to Our Confirmed Supporters Invest in BC is made possible by the generous support of these organizations: Event Details: Dates Location: Vancouver Convention Centre West Secure Your Spot: Early registration available until September 26. For more information or to register, visit:
