Some Georgia businesses, including what some health officials call the most risky, will be allowed to open. Gyms, hair and nail salons, and bowling alleys, will all be allowed to do business again starting Friday with some restrictions. Tennessee and South Carolina are also opening some businesses but Georgia is being the most aggressive.
Gov. Brian Kemp (R) said Monday those businesses will be required to stagger shifts, keep workspaces six feet apart, and screen workers for respiratory illnesses and fevers. Workers may also have to wear masks and gloves when “appropriate.”Theaters, private social clubs and restaurants will be allowed to reopen April 27 and will be required to follow the same rules.
Bars and nightclubs will remain closed. The state’s shelter-in-place order expires April 30, though older individuals and people with underlying health conditions that put them at risk for serious COVID-19 illness are being asked to stay home until May 13. “By taking this measured action, we will get Georgians back to work safely without undermining the progress we all have made in this battle against COVID-19,” Kemp said at a press conference.
Kemp’s announcement follows President Trump’s move last week to issue guidelines for states to begin lifting restrictions.”Georgians that are small-business owners have common sense, and we’re trusting them to use it,” Kemp said. He said he sees “favorable data,” and the enhanced testing and the approval of state health officials makes him confident that it’s the right call.
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Halliburton Company (NYSE: HAL) Reports $1 Billion Loss
One of the biggest names in U.S. oilfield services Halliburton (HAL.NYSE) reported a $1 billion first-quarter loss on Monday and warned that horrible conditions in U.S. shale would damage its 2020 results. No light at the end of the tunnel, in other words.
U.S. crude futures plunged to two-decade lows on Monday with the front month contract hitting an historic all-time low of $-40.32 (this is the last days of trading with May as the front month, but it’s the first time ever an underlying contract has gone negative). Make no mistake, this is about a fire sale for crude that is already out of the ground. The largest number of Saudi oil shipments in years are making their way to the United States this month and those shipments have no where to go, given the storage shortage and weak demand.
HAL was up all day Monday though, as traders and investors focused on what was good. The oilfield services company reported quarterly profit of 31 cents per share, 7 cents a share above estimates. Revenue also beat Wall Street forecasts. With the stock trading around $7.75 or so, analysts like it too. Looking at 26 analysts that cover the stock, it’s a consensus hold. There is 1 sell rating, 20 hold ratings, and 5 buy ratings with a consensus price target of $15.99. That’s about 108% increase from where it is as we write this. That’s not bad risk to reward although it should be noted that the price estimates have come down about 52.6% from 180 days ago.
This may not be the exact time to buy HAL, but this company will be back as it has a strong balance sheet and a long history of surviving the ups and downs of its diverse business cycles.
Tesla Model 3 Police cars
The Thailand National Police Agency has added seven Tesla (NASDAQ: TSLA) Model 3 Performance electric vehicles for its fleet, beginning its transition toward sustainable law enforcement.
Documents posted on the Thai Police official website state the seven vehicles were each leased for five years and collectively cost USD 2.7 million. Each car arrived at police headquarters in Dusit, Bangkok, with police equipment already installed, such as light bars and computers, according to “DriveTeslaCanada”.
The math on the $2.7 million price tag shows each vehicle costs the police force around $385,714. This is a massive price jump vs. what other countries pay. According to CompareTheMarket, Thailand was the second most expensive country to purchase an electric vehicle with an average price of ฿1,990,000, or $64,675. Singapore is the only country where EVs cost more, as the average cost is $110,326.
Police departments across the United States have started utilizing Tesla vehicles for its fleets. Among these police forces is the Fremont, CA Police Department, where Tesla’s main production facility is located, the Bargersville Police Department in Indiana, and the Westport Police Department in Connecticut. Fremont utilizes a Model S 85, while both Bargersville and Westport use the Model 3 Performance.
Police forces have found value in adopting Tesla vehicles in their fleets due to the low maintenance and fuel costs. Also, Tesla vehicles offer comparable performance and improved environmental-standards when weighed against high-powered gas-fueled machines like Dodge Chargers or Ford Mustangs. Electric cars provide instant torque, which can be the deciding factor in a high-speed chase. The advantages of sustainability and performance make the Tesla Model 3 an ideal candidate for police work.
Zoom Fighting Nudity with A.I.
Online meeting company Zoom Video Communications (NASDAQ: ZM) is using new artificial intelligence (AI) and machine learning (ML) within its app to block nudity and other restricted content on its platform. The company has been in the news lately, for showing insane user growth from people working from home, as well as family gaming and group virtual happy hours. but also, for prompting questions around its security. According to reports, hackers have been able to easily hack into accounts and live online conferences.
The stock was up 50.8% from the beginning of March to the high of March 23rd but fell 34% after getting hit by the privacy criticism. It has since recovered 75% of that fall as Zoom has been taking some measures to make the platform safer.
In a move that is aimed at eliminating adult content (i.e. nudity, video sexting, live porn) on its platform, Zoom is leveraging AI to remove such content. The question is though, how this can be done, given that the company claims the service is protected by ‘end-to-end encryption’.
According to a Zoom spokesperson, the company has been using a variety of tools, including AI and ML, to identify accounts that may have violated Zoom’s terms. These actions are in response to users reporting these violations, so it seems for now, consensual-voluntary nudity will not be infringed. Zoom has not been clear on this yet.
Zoo’m Animals
A North Carolina Farm called Peace N Peas Farm has come up with a clever revenue generator for the farm and a fun distraction for companies and families dealing with the shelter-in-place orders.
The farm will rent Mambo, an 8-year-old miniature donkey, and his friends to crash company video conference calls, according to The Charlotte Observer. This camera hogging donkey is “like a pesky little brother” that “doesn’t let anyone relax too long,” Francie Dunlap, Mambo’s owner, said.
Companies can choose other farm animals they want to invite as guests on their video calls. According to the farm animal’s meeting registration website, they include three horses, Heiren, Zeus and Eddie, along with some chickens and ducks.
They are already pretty booked up as teachers are trying to rent the animals to break up student lessons as well, especially in middle schools and younger. Families are also reaching out to rent animals to crash their family happy hours and family game nights that are taking place on Zoom, Skype, Google Hangouts, and other apps.
Soon the Bronx Zoo, the San Diego Zoo and the Lincoln Park Zoo may become the Bronx Zoom, the San Diego Zoom and the Lincoln Park Zoom.