E Weak Markets - Yom HaShoah

Separately, Nokia also said it would incorporate Intel's 3rd Generation Xeon scalable processors in its US AirFrame Cloud RAN and 5G Cloud Core data center systems to boost their computer capacity and speed while cutting energy consumption. This comes from a new partnership with Intel here. Nokia also resolved all its 2-yr patent litigation against Chinese Lenovo with a cross-license accord over infringement of 20 NOK video compression patents, to result in payments to the Finnish firm from the Chinese one. The amounts to be paid were not revealed. Nokia sued Lenovo in the US, Brazil, India, and Germany. NOK shares gained 1.25% at the US opening on this news pileup.

Plugged by Short Hill Capital's Steve Weiss on Halftime, Telefonaktiebolaget Ericsson (ERIC) rose 0.7%.

*Cameco CCJ reported on its 2020 results revealing a loss of $53 mn adjusted up to $66 mn. Its Cigar Lake mine suspended production and it bought 11.5 mn lbs of uranium to meet demand—at $40/lb or $465 mn overall. Its Cigar Lake uranium costs $15-16 to extract. It borrowed $400 mn to cover costs paying interest at 2.95%. It also doubled its stake in Global Laser Enrichment to 49%. Its partner is Silex. They issued results earlier but to view them you had to pay the sites where they were posted.

*British BAE Systems today reported that it won adaptive radiofrequency contracts from the US DoD Darpa arm to protect wideband receivers from interference using adaptive hardware signal filters and cancellors. The two contracts for wideband adaptive radio frequency (WARP) protection are worth $5 mn in total. Radiofrequency systems operate in a crowded electromagnetic spectrum subject to interference from both friendly and hostile sources. The first contract covers external interference while the second cover self-interference from STAR transmitters. BAESY is up 0.42%.

*Royal Dutch Shell revealed that it had suffered $200 mn in losses during the Texas gas outages but also said its upstream oil and gas units will produce a profit in the current quarter, the first since the Covid-19 pandemic began, thanks to higher commodity prices. The RDS-B shares we own gained 0.55% to $37.99 but the RDS-A shares rose 0.42% to $40.28. Where are market arbitrageurs when we need them? BP plc rose another 0.36% in sympathy.

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