Air India plane crash lands in southern India, several passengers injured

EARNINGS SUMMARY: Details of PICO HOLDINGS INC Q2 Earnings Report

Below are the earnings highlights for PICO HOLDINGS INC (PICO):

-Earnings: $1.86 million in Q2 vs. -$1.12 million in the same period last year.
-EPS: $0.10 in Q2 vs. -$0.06 in the same period last year.
-Revenue: $3.85 million in Q2 vs. $2.66 million in the same period last year.

Dr. Elizabeth Nabel Resigns From Moderna’s Board To Avoid Conflict Of Interest

Moderna Inc., (MRNA) a clinical stage biotechnology company, Friday said Elizabeth Nabel will resign from its Board of Directors effective immediately. The decision to resign from the board was to avoid any conflict of interest.

Nabel is President of Brigham and Women’s Hospital, which is participating as one of 89 clinical trial sites in the Phase 3 trial of mRNA-1273, Moderna’s vaccine candidate against COVID-19.

“In the context of the start of the 30,000 participant Phase 3 trial for Moderna’s COVID-19 vaccine candidate, and Brigham and Women’s Hospital’s final preparation as a site for enrolling up to 300-500 trial participants, we have accepted Betsy’s resignation out of an abundance of caution to avoid any potential of even apparent conflict of interest on her part or Moderna’s part,” Noubar Afeyan, Co-Founder and Chairman of Moderna, and CEO of Flagship Pioneering.

Moderna is one of the top contenders in the race to develop a COVID-19 vaccine. The company has begun its phase III study of mRNA-1273 against the novel coronavirus.

The phase III study, dubbed COVE, is expected to include approximately 30,000 participants in the United States, testing the mRNA-1273 vaccine at a dosage of 100 µg. The primary endpoint will be the prevention of symptomatic COVID-19 disease.

COVE is being conducted in collaboration with the National Institute of Allergy and Infectious Diseases and the Biomedical Advanced Research and Development Authority (BARDA).

Stock Alert: First Solar Up 18% On Quarterly Results

Shares of First Solar, Inc. (FSLR) are gaining over 18% on Friday morning, after the company’s second-quarter earnings and revenues trumped Wall Street expectations.

FSLR is currently trading at $76.11, up $11.65 or 18.07%, on the Nasdaq.

First Solar reported second-quarter profit of $36.9 million or $0.35 per share, compared to last year’s loss of $18.5 million or $0.18 per share. Net sales rose to $642.4 million from $585.0 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.23 per share on revenues of $493.34 million for the quarter.

Separately, First Solar said it has agreed to sell its North American Operations and Maintenance business to NovaSource Power Services, a portfolio company of Toronto-based private equity firm Clairvest Group Inc. Financial terms of the transaction were not disclosed.

Amtrak Trains Delayed in Connecticut Because of Power Problems

Amtrak trains are delayed running through Connecticut as widespread electricity outages plague the region in the wake of Tropical Storm Isaias.

An “overhead power issue” between Stamford and New Haven has delayed service in the Northeast Corridor, the busiest U.S. line for train service, Amtrak said in an advisory.

Utilities Eversource Energy and Avangrid Inc. have struggled to restore power to more than half a million homes that lost electricity service on Tuesday when Isaias tore down trees and power lines. There were still more than 470,000 homes and businesses in the state without power Friday morning. Eversource said some customers won’t be restored until late Tuesday.

Read More:Storm-Hit New Yorkers Confront Working at Home Without Power

— With assistance by Brian K Sullivan

Microsoft In Talks To Buy TikTok In U.S.

Microsoft said Sunday that it is prepared to continue discussions to explore a purchase of TikTok in the United States. Other American investors could participate in the potential acquisition on a minority basis.

The company issued the statement following conversations between its chief executive officer Satya Nadella and President Donald Trump.

Trump had reportedly planned to sign an executive order to ban TikTok in the US, where it has up to 80 million active monthly users.

Microsoft noted that it fully appreciates the importance of addressing the U.S. President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.

The company said it will keep working with the U.S. Government on a deal and it plans to conclude talks with TikTok’s parent company, ByteDance, by 15th September.

The purchase would cover TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in those markets.

Microsoft said it will ensure that all private data of TikTok’s American users is transferred to and remains in the United States. It will delete the data from servers outside the country after it is transferred.

The company noted that the talks are preliminary and there is no certainty a deal would be reached.

Air India plane crash lands in southern India, several passengers injured

  • Indian news reports said an Air India Express flight with 191 passengers on board skidded off a runway while landing Friday in heavy rain in southern India, and some injured people were hospitalized.
  • Rajiv Jain, a spokesman for the Civil Aviation Ministry, confirmed the accident and said the plane broke into two pieces. He said details about injuries were not immediately known.

Indian news reports said an Air India Express flight with 191 passengers on board skidded off a runway while landing Friday in heavy rain in southern India, and some injured people were hospitalized.

Rajiv Jain, a spokesman for the Civil Aviation Ministry, confirmed the accident and said the plane broke into two pieces. He said details about injuries were not immediately known.

The news reports said the plane didn't catch fire. They said passengers were evacuated from the Boeing aircraft.

The NDTV news channel said the plane flew from Dubai to Kozhikode in southern India.

Air India Express is a subsidiary of Air India.

This is breaking news. Please check back for updates.