Top Five Weekend Stock Stories - Sept. 16th, 2018

Catch up on the weekend's top five stories with this list compiled by The Fly:

1. Trump's Trade War
On Saturday, The Wall Street Journal reported that President Trump plans to announce new tariffs of about $200B on Chinese imports, but at a rate of about 10%, which is below the 25% that has previously been threatened. On Sunday, The Journal said that China is not pleased with the pressure tactics and is considering declining an offer for a new round of trade talks. Furthermore, some Chinese advisors are suggesting restrictions be placed on sales of materials and equipment key to U.S. manufacturers' supply chains, which could even apply to Apple's (AAPL) iPhone, according to The Journal.

2. Leaks at Amazon
Amazon (AMZN) is investigating internal leaks as it fends off fake reviews and other seller scams, The Wall Street Journal reported. The practice of employees offering internal data and other confidential information that can help independent merchants sell their products on the site is particularly pronounced in China, sources told the paper.

3. Fire at Tesla's Gigafactory
A fire broke out at Tesla's (TSLA) Gigafactory in Nevada late on Saturday but was contained by early Sunday and production had resumed, Reuters reported, citing emergency officials and the company. The factory produces Model 3 electric motors and battery packs.

4. Quantum Internal Investigation

After Friday's close, Quantum (QTM) announced that the special committee of its board of directors has substantially completed its internal investigation and concluded that there were misstatements in the company's previously issued consolidated financial statements and other financial information. The board has concluded that the company's previously issued consolidated financial statements and other financial data for the fiscal years ended March 31, 2015, 2016 and 2017 should no longer be relied upon and should be restated.

5. Barron's Likes OBSV and SUM
ObsEva (OBSV) and Summit Materials (SUM) saw positive mentions in Barron's.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

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