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The website home screen for Asana

Gabby Jones/Bloomberg


shares ended their first day of trading at $29.96, their higher level of the day. The stock had opened at $27, above the $21 “reference price” announced by the New York Stock Exchange last night for the company’s direct listing. The stock traded 40.4 million shares, just over a quarter of total shares outstanding.

With about 154 million shares outstanding, San Francisco-based Asana (ticker: ASAN) at the close had a market capitalization of about $4.6 billion. Asana provides cloud-based project management software. The company’s founder and CEO is Dustin Moskovitz, who also was a co-founder of Facebook.

Asana recently reported revenue for its fiscal second quarter ended July 31 of $52 million, up 57% year over year, with a non-GAAP (generally accepted accounting principles) loss of $13.7 million, or 34 cents a share.

For the third quarter, the company

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Stocks were mixed in Asia on Wednesday while upbeat manufacturing data lifted shares in China as investors studied the outcome of the debate between President Donald Trump and his Democratic challenger, Joe Biden.

A man looks at screens showing Japan's Nikkei 225 index at a securities firm in Tokyo on Friday, Sept. 18, 2020. Stocks are mixed Wednesday, Sept. 30, in Asia as investors wait for the first debate between President Donald Trump and Democratic challenger Joe Biden. (AP Photo/Hiro Komae)

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A man looks at screens showing Japan’s Nikkei 225 index at a securities firm in Tokyo on Friday, Sept. 18, 2020. Stocks are mixed Wednesday, Sept. 30, in Asia as investors wait for the first debate between President Donald Trump and Democratic challenger Joe Biden. (AP Photo/Hiro Komae)

Hong Kong and Shanghai led regional gains while Japan’s Nikkei 225 edged lower. Overnight, the S&P 500 lost 0.5% as heavy selling of banks helped reverse some of the gains the market a day earlier.

Investors remain cautious with COVID-19 infections on the rise again in the U.S. and elsewhere. The Trump-Biden debate occurred as coronavirus deaths worldwide have surpassed 1 million. Many millions

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NEW ORLEANS (AP) — The owners of the horse racing track in New Orleans have agreed to pay a $2.8 million penalty for letting horse manure and urine into the city’s drainage system for at least six years and to spend twice that on ending the discharges, federal prosecutors say.

The U.S. Justice Department described the fine to be paid by Churchill Downs Inc., owner of the Fair Grounds Race Course & Slots, as the largest ever paid by a “concentrated animal feeding” operation under the Clean Water Act, news outlets reported.

The agreement settles a federal complaint alleging that the Fair Grounds violated that law and the track’s state permit more than 250 times between 2012 and 2018.

“This consent decree will stop the flow of untreated process wastewater into the local sewer system, which leads to local waters used for fishing and ultimately Lake Pontchartrain, in a way

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Company continues to advance its Corporate Responsibility Commitment goals through empowering employees to foster collective impact

WILMINGTON, Del., Sept. 30, 2020 /PRNewswire/ — The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, today published its third annual Corporate Responsibility Commitment report, continuing the company’s commitment to responsible chemistry.

The company’s Corporate Responsibility Commitment is anchored by ten bold goals targeted for completion by 2030 that are aligned across three key pillars–Inspired People, Shared Planet and Evolved Portfolio. They cover eight key areas of focus that the company defines as follows:

Safety Excellence–Focusing on the safety of our people, communities and the environment around us

Vibrant Communities–Investing in our communities to improve lives through education, safety, and sustainable environment programs

Empowered Employees–Building an engaged global workforce to reflect the varied viewpoints and diversity of the communities in which

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Starbucks  (SBUX) – Get Report shares rose Wednesday after Cowen analyst Andrew Charles upgraded the coffee-bar chain’s stock to outperform from market perform and raised his share-price target 29% to $99 from $77.

“We view early signs of the U.S. recovery as durable, aided by broadening digital access through expanded pay options for loyalty and 23% of U.S. stores adding curbside pickup,” he wrote in a commentary.

“Covid-19 presents new efficiency opportunities [to drive] 15% earnings-per-share growth for 2022-2023, he said. The shares risk/reward balance is “compelling, as our bull/bear cases suggest 2-to-1 upside/downside ratio.”

The Seattle chain’s stock recently traded at $86.72, up 2.3%. The shares have eased 1% this year. The new price target indicates 17% upside from Tuesday’s close at $84.80.

“We view Americas same-store sales as the key metric for SBUX, given a 0.8 correlation with SBUX’s forward price-to-earnings multiple pre-covid-19,” Charles said.


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As we are nearing Boeing’s (NYSE:BA) Q3 result earnings call in October, we are also expecting Boeing to announce or outline consolidation plans for the Boeing 787. The announcement seems to be a formality as Boeing faces lower costs in North Charleston for the Dreamliner production, and demand for wide body aircraft has dwindled, and the company has been looking for ways to make its business less prone to work disruptions from the strong unions in the Seattle area.

In this analysis, we will look at why this is a major blow to the Everett assembly site.

Boeing moves Boeing 787 production Everett Washington to North Charleston South Carolina

Source: Australian Aviation

Note from Author: As we were preparing this report for subscribers, The Wall Street Journal reported that Boeing will set plans this week to consolidate production in South Carolina.

Wide body in Washington state to tumble

Moving the Boeing 787 from Washington would be a blow for the Everett facility.

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By Lucia Mutikani

WASHINGTON (Reuters) – U.S. private employers stepped up hiring in September, but diminishing government financial assistance and a resurgence in new COVID-19 cases in some parts of the country could slow the labor market’s recovery from the pandemic.

Other data on Wednesday confirmed that the economy suffered its sharpest contraction in at least 73 years in the second quarter because of the disruptions from the coronavirus. Record growth is predicted in the third quarter, buoyed by fiscal stimulus and the resumption of many business operations.

But without another rescue package, rising coronavirus infections and political uncertainty that could extend beyond the Nov. 3 presidential election, gross domestic product estimates for the fourth quarter are being slashed.

“With economic momentum cooling, fiscal stimulus expiring, flu season approaching and election uncertainty rising, the main question is how strong the labor market will be going into the fourth quarter,” said

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Ford (F) has issued a recall for more than 700,000 vehicles because they may have a backup camera issue that could cause the screen to go black or distort.

The automaker said that several 2020 vehicles are affected by the recall, including Ford Explorers, F-150s, Mustangs, Transits, Super Duties, Expeditions, Escapes, Rangers, and Edges as well as Lincoln Corsair, Nautilus, and MKX models.

The affected Ford Explorers were built at the Chicago Assembly Plant from Nov. 16, 2019 to May 18, 2020, while the F-150s were built at the Dearborn Assembly Plant in Michigan from Oct. 26, 2019 to May 18, 2020, and the Kansas City Assembly Plant in Missouri from Nov. 2, 2019 to May 18, 2020.

Ford’s recalled Mustangs were built at the Flat Rock Assembly Plant in Michigan from Oct. 28, 2019 to May 20, 2020 while the Ford Transits were built at the Kansas City Assembly

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Shell Chief Executive Ben van Beurden said cutting jobs was “the right thing to do for the future of the company.”

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Royal Dutch Shell

unveiled plans on Wednesday to cut up to 9,000 jobs by the end of 2022, as part of a major restructuring plan as it shifts to low-carbon energy.

The oil giant said it expected to make annual savings of $2 billion to $2.5 billion through a “simpler, streamlined and lower-cost organization.”

In a trading update, the company said it expected to take another impairment charge of $1 billion to $1.5 billion in the third quarter, and that production was set to drop due to the hurricanes in the U.S. Gulf of Mexico. The stock fell 1.6% in London trading, while the American depositary shares were 1% lower.

The back story. The oil-and-gas industry has been one of the worst affected throughout the

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FRANKFURT (Reuters) – Germany’s network agency said on Wednesday it had awarded licences to build 677 megawatts (MW) of renewable power installations under the first so-called innovation tender that promotes combining generation and storage activities.

The authority is trying to reverse a lull in applications for green power projects that threatens progress in the country’s green energy transformation.

Interest has fallen sharply since 2017, when generous 20-year feed-in tariff guarantees, awarded under a 2000 law to promote renewables, were abandoned in favour of an auction-based programme.

The innovation tenders – introduced and held alongside regular auctions for new capacity – are meant to reward storage technology aimed at relieving transport grids of the stress arising from the intermittency of green power.

The aim is to create incentives for utilities and equipment makers to invest within a secure framework, although the sector must ultimately become self-financing.

The Bundesnetzagentur energy markets regulator

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