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Walmart fires inventory-tracking robots, realizes humans work just as well

Undeterred by Pandemic, Americans Prepare to Render Verdict on Trump

President Trump and Joseph R. Biden Jr. barnstormed through battleground states, concluding an extraordinary campaign conducted amid a health crisis and deep economic anxiety.


By Shane Goldmacher

Some Regions Still Experience Slow Delivery of Mail Ballots

In the final days of voting, the Postal Service is struggling to ensure timely delivery of ballots in parts of key battleground states like Pennsylvania and Michigan.

By Hailey Fuchs

Cramer's lightning round: Jumia Technologies is a 'good spec'

  • It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.

Jumia Technologies: "I like this idea … I say it is a good spec."

FibroGen: "I like the idea, as long as you put it in your total speculative column."

Nio: "This thing did take off. I admit that I was late to the party on this one. … And I think it does go higher."

Sabre: "I do not want to be in there."

Crowdstrike: "I love Crowdstrik. I think it's one of the absolute best. You hold on to it for multi-years, mabye three to five."

Disclaimer

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ADTRAN Q3 Results Top Estimates

ADTRAN Inc. (ADTN) reported that its net income for the third quarter of 2020 was $5.48 million or $0.11 per share, compared to a loss of $46.12 million or $0.96 per share in the prior year.

Non-GAAP net income was $7.93 million or $0.16 per share, compared to a loss of $2.78 million or $0.06 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter. Analysts’ estimates typically exclude special items.

Quarterly sales were $133.14 million, up from $114.09 million in the previous year. Analysts expected revenue of $132.86 million for the quarter.

The company declared a cash dividend of $0.09 per share for the third quarter of 2020. The dividend is to be paid to the company’s stockholders of record as of the close of business on November 17, 2020. The payment date will be December 1, 2020.

Nutrien Narrows 2020 Adj. EPS View

Nutrien Ltd. (NTR,NTR.TO) said that it narrowed its 2020 adjusted net earnings guidance to a range of $1.60 – $1.85 per share from $1.50 – $1.90 per share.

“… Market conditions are improving around the world with higher crop and fertilizer prices, lower expected inventories and strong demand for crop inputs as we finish the year and enter 2021,” said Chuck Magro, Nutrien’s President and CEO.

Global potash demand has been strong in 2020 and it continues to expect global potash shipments and consumption to increase by approximately 2 million tonnes from 2019 levels. As a result, it maintained its 2020 shipment forecast between 65 and 67 million tonnes.

Lenovo profit beats expectations, helped by remote working trend

FILE PHOTO: The Lenovo logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/Illustration

HONG KONG (Reuters) – China’s Lenovo Group, the world’s biggest PC maker, posted a better than expected quarterly profit on Tuesday and said it is continuing to benefit from “new normal” remote working after COVID-19.

Lenovo reported a 53% jump in net profit for the quarter ended September to $310 million, beating an average $224 million estimate of eight analysts, according to Refinitiv data.

Revenue increased 7% to $14.5 billion.

Australia's central bank cuts rates to record low 0.1% and expands bond buying

  • Australia's central bank cut its cash rate to a record low of 0.1% on Tuesday.
  • The Reserve Banks of Australia also said it was planning to buy $100 billion Australian dollars ($70.5 billion) of longer-dated government debt as the economy struggles to recover from a Covid-inflicted recession.
  • The RBA also cut its target for three-year bond yields to 0.1%, from 0.25%, following a monthly Board meeting.

Australia's central bank cut its cash rate to a record low of 0.1% on Tuesday and said it planned to buy $100 billion Australian dollars ($70.5 billion) in longer-dated government debt as the economy struggles to recover from a Covid-inflicted recession.

The Reserve Bank of Australia (RBA) also cut its target for three-year bond yields to 0.1%, from 0.25%, following a monthly Board meeting.

A Reuters poll of 25 analysts had found almost all expected a rate cut this week, combined with purchases of longer-dated debt of $100 billion Australian dollars or more.

Walmart fires inventory-tracking robots, realizes humans work just as well

Walmart is parting ways with robots used to monitor store inventory as the retail giant realized humans are just as capable, a new report said.

The robot layoff is the result of the company cutting ties with startup Bossa Nova Robotics, which over the last five years provided six-foot-tall inventory-tracking machines to roughly 500 Walmart stores, The Wall Street Journal reported.

Sources familiar with the move told the newspaper that company executives determined they can use their own store employees to effectively keep tabs of inventory.

Walmart US chief executive John Furner has also expressed concern over shopper reactions to the hulking robots.

Walmart is looking to replace the robots with workers who have been walking around stores to pull online orders, which have increased during the coronavirus pandemic.

“We learned a lot about how technology can assist associates, make jobs easier and provide a better customer experience,” a Walmart spokeswoman told the Journal.

“We will continue testing new technologies and investing in our own processes and apps to best understand and track our inventory and help move products to our shelves as quickly as we can.”

Other robots, including floor-cleaning ones, will remain in Walmart, the report said.

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