Stock Alert: SmileDirectClub Advances 9%
Shares of clear aligners maker SmileDirectClub, Inc. (SDC) are climbing more than 9% Thursday morning at $12.27.
Thursday, SmileDirectClub said it has partnered with Texas-based dental service organization DECA Dental including its more than 100 affiliated dental practices.
“The partnership with DECA Dental advances the SmileDirectClub Partner Network, the company’s direct-to-office model that allows consumers a third option, in addition to the company’s SmileShops and doctor-prescribed impression kits, to begin clear aligner treatment using SmileDirectClub’s innovative and easy to use telehealth platform,” the company said.
The stock has been trading in the range of $3.64- $15.54 in the past 52 weeks.
WATCH: How swing states can shape presidential candidates' platforms and decide the 2020 election
- A single swing state can sway the US presidential election, and this year's outcome could come down to that.
- These battlegrounds often become the focus of campaigns because of the winner-take-all nature of the electoral college.
- With limited time and money, candidates will spend most of their resources on swing states and shape their party's agenda to cater to those voters.
- Visit Business Insider's homepage for more stories.
Treasury Department Announces Details Of Long-Term Securities Auctions
The Treasury Department announced the details of this month’s auctions of two-year, five-year and seven-year notes on Thursday.
The Treasury revealed it plans to sell $54 billion worth of two-year notes, $55 billion worth of five-year notes and $53 billion worth of seven-year notes.
The results of the two-year note auction will be announced next Tuesday, the results of the five-year note auction will be announced next Wednesday and the results of the seven-year note auction will be announced next Thursday.
Last month, the Treasury sold $52 billion worth of two-year notes, $53 billion worth of five-year notes and $50 billion worth of seven-year notes.
Fed’s Beige Book Says Economy Increased At Modest Pace
Economic activity continued to increase across all Federal Reserve districts, according to the central bank’s Beige Book report released on Wednesday.
The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, noted the pace of economic growth characterized as slight to modest in most districts.
The report said manufacturing activity generally increased at a moderate pace, while residential housing markets continued to experience steady demand for new and existing homes.
Banking contacts also cited increased demand for mortgages as the key driver of overall loan demand, the Fed said.
Meanwhile, the Fed said commercial real estate conditions continued to deteriorate in many districts, with the exception being warehouse and industrial space where construction and leasing activity remained steady.
The report also said consumer spending growth remained positive, but some districts reported a leveling off of retail sales and a slight uptick in tourism activity.
Employment increased in almost all districts, the Fed said, although growth remained slow. Job gains were reported most consistently for manufacturing firms, but firms continued to report new furloughs and layoffs.
On the inflation front, the Beige Book said prices rose modestly across districts since the previous report. Input costs generally increased faster than consumer prices, although some sectors—notably construction, manufacturing, retail, and wholesale—passed along the higher costs to consumers.
Putin Says Russia Open to Delaying Planned OPEC+ Output Hike
Russia doesn’t rule out delaying scheduled production hikes by the OPEC+ alliance, President Vladimir Putin said, the latest sign the cartel could restrain crude output for longer.
Oil rose after Putin said he didn’t rule out a change of plan. Production cuts are due to be eased — as part of a gradual tapering — from January but the cartel has hinted it may change tack as demand falters amid a resurgent pandemic. Putin’s preference was to adhere to the current plan.
“We think there is no need to change anything now,” Putin said. “We don’t rule out that we may either keep the current restrictions on output, that we don’t lift them as soon as we have planned earlier.”
“If necessary, we can take a decision on further cuts. But so far we simply see no such need,” he said.
Russian Energy Minister Alexander Novak said on Tuesday it wasn’t time yet todecide — changing his tone from just a week earlier when he said Russia wanted to stick to the plan. The Organization of Petroleum Exporting Countries and its allies have warned of a precarious outlook, and increasingly traders have signaled the market can’t absorb the extra barrels.
Michelin Nine-Month Revenues Down 16.8%
French tire maker Michelin Cie Des Estb (MGDDY.PK,MGDDF.PK), Thursday reported nine-month sales of 14.89 billion euros, down 16.8% from 17.58 billion euros last year.
Automotive and Related Distribution sales slipped 16.2% to 7.24 billion euros, while Road Transportation and Related Distribution dropped 19.9% to 3.87 billion euros.
Looking forward to 2020, the company expects passenger car and light truck tire markets to decline by 13% to 15% over the year, truck tire markets by between 12% and 14% and the specialty markets by 15% to 19%.
Donald Trump Jr. Shows Once Again He Is Planet’s Least Self-Aware Person
Donald Trump may be president, but Donald Trump Jr. is the king ― of the “self-own,” that is.
The president’s firstborn son has a long history of posting tweets that backfire in his face, and he kept the tradition alive on Thursday.
It happened when Trump Jr. attempted to accuse Joe Biden’s son Hunter Biden of being a spoiled rich kid who didn’t work for his wealth.
Many Twitter users weren’t sure Trump Jr. was the right guy to make a case against nepotism, considering his daddy hired him as a vice president a year out of college.
And, yes, there was snark.
Some people had questions. Lots of questions.
But Jr.’s tweet may have had one positive result: helping one man come up with what can only be described as a truly lucrative business concept.