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SEATTLE, WA / ACCESSWIRE / November 23, 2021 / Aptevo Therapeutics Inc. ("Aptevo" or the "Company") (NASDAQ:APVO), a clinical-stage biotechnology company focused on developing novel immuno-oncology therapeutics based on its proprietary ADAPTIR and ADAPTIR-FLEX platform technologies, today announced a clinical update for the Company's Phase 1b Expansion trial evaluating APVO436 in the treatment of acute myeloid leukemia (AML). Preliminary data observed to date includes one complete remission.

A high-risk AML patient treated in Cohort 1 with a combination of chemotherapy plus APVO436 achieved a complete remission (CR) after one cycle of therapy. The chemotherapy regimen included the standard leukemia drugs Mitoxantrone, Etoposide, and Cytarabine. The patient tolerated treatment without evidence of overt toxicity.

The overarching goal of the Phase 1b expansion phase study is to determine if APVO436 treatments can improve the quality of remission in high-risk AML patients by reducing the residual chemotherapy-resistant measurable residual disease (MRD) burden. The quality of remission will be assessed using state-of-the art multiparameter flow cytometry methods for quantitative MRD assessment in a centralized laboratory.

MRD, previously known as minimal residual disease, in AML refers to leukemia cells that are present at very low numbers but can be detected using highly sensitive flow cytometric or genomic methods. A recent systematic review of the clinical significance of MRD in over 10,000 AML patients has demonstrated that achievement of MRD negativity is associated with superior leukemia-free survival and overall survival. Therefore, MRD status has emerged as an attractive and clinically meaningful end point that may allow for accelerated evaluation of novel therapies in AML (reference: Short et al., Association of Measurable Residual Disease with Survival Outcomes in Patients with Acute Myeloid Leukemia: A Systematic Review and Meta-analysis. JAMA Oncol. 2020 Dec 1;6(12):1890-1899. Click here to view the publication: https://jamanetwork.com/journals/jamaoncology/fullarticle/2771199.

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Aptevo believes that APVO436 has the potential to help AML patients achieve complete remissions without MRD and thereby reduce their risk of leukemic relapses. Aptevo also believes that the use of APVO436 for targeting MRD in AML may be associated with a very low risk of cytokine release syndrome (CRS) as well as an increased likelihood of responses as both CRS as well as responses are inversely correlated with the leukemia burden of the patients. If successful, deepening the remission to an MRD-negative remission using this strategy could translate into an improved overall survival in AML.

The Company recently published information about the compound's favorable safety profile, characterized by a low incidence of CRS, and promising single agent activity of APVO436 in two back-to-back peer-reviewed publications in the prestigious oncology journal Cancers (Basel):

1. Uckun, F.M.; Lin, T.L.; Mims, A.; Patel, P.; Lee, C.; Shahidzadeh, A.; Shami, P.; Cull, E.; Cogle, C.R.; Watts, J. A Clinical Phase 1B Study of the CD3xCD123 Bispecific Antibody APVO436 in Patients with Relapsed/Refractory Acute Myeloid Leukemia or Myelodysplasia. Cancers (Basel)2021, 13, Aug 15;13(16):4113. Click here to view the publication: https://doi.org/10.3390/cancers.

2. Uckun FM, Watts J, Mims AS, Patel P, Wang E, Shami PJ, Cull E, Lee C, Cogle CR, Lin TL. Risk, Characteristics and Biomarkers of Cytokine Release Syndrome in Patients with Relapsed/Refractory AML or MDS Treated with CD3xCD123 Bispecific Antibody APVO436. Cancers (Basel) 2021; 13(21):5287. Click here to view the publication: https://doi.org/10.3390/cancers13215287

About APVO436Overexpression of CD123 is the hallmark of many forms of leukemia. Aptevo's lead proprietary drug candidate, APVO436 is a bispecific CD3xCD123 ADAPTIR that is designed to redirect the immune system of the patient to destroy leukemia cells expressing the target CD123 molecule on their surface. This antibody-like recombinant protein therapeutic is designed to engage both leukemia cells and T-cells of the immune system and bring them closely together to trigger the destruction of leukemia cells. APVO436 has been engineered using Aptevo's proprietary and enabling bioengineering methods and is designed to reduce the likelihood and severity of CRS. APVO436 has received orphan drug designation ("orphan status") for AML according to the Orphan Drug Act.

About Aptevo Therapeutics Aptevo Therapeutics Inc. is a clinical-stage biotechnology company focused on developing novel immunotherapies for the treatment of cancer. Aptevo is seeking to improve treatment outcomes of cancer patients. For more information, please visit http://www.aptevotherapeutics.com.

Safe Harbor StatementThis press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, Aptevo's expectations about the activity, efficacy and safety of its therapeutic candidates and potential use of any such candidates as therapeutics for treatment of disease, advancement of its clinical trials and its expectations regarding the effectiveness of its ADAPTIR and ADAPTIR-FLEX platforms, whether APVO436 treatments can improve the quality of remission in high-risk AML patients, whether APVO436 helps AML patients achieve complete remissions without MRD, whether the use of APVO436 for targeting MRD in AML will be associated with a very low risk of CRS as well as an increased likelihood of responses, whether Aptevo's strategy will translate into an improved overall survival in AML, and any other statements containing the words "may," "believes," "expects," "anticipates," "hopes," "intends," "optimism," "potential," "designed," "engineered," "breakthrough," "innovative," "innovation," "promising," "plans," "forecasts," "estimates," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on Aptevo's current intentions, beliefs, and expectations regarding future events. Aptevo cannot guarantee that any forward-looking statement will be accurate. Investors should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from Aptevo's expectations. Investors are, therefore, cautioned not to place undue reliance on any forward-looking statement.

There are several important factors that could cause Aptevo's actual results to differ materially from those indicated by such forward-looking statements, including a deterioration in Aptevo's business or prospects; adverse developments in clinical development, including unexpected safety issues observed during a clinical trial; adverse developments in the U.S. or global capital markets, credit markets or economies generally; and changes in regulatory, social, and political conditions. For instance, actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties inherent in the initiation, enrollment and maintenance of patients, and completion of clinical trials, availability and timing of data from ongoing clinical trials, the trial design includes combination therapies that may make it difficult to accurately ascertain the benefits of APVO436, expectations for the timing and steps required in the regulatory review process, including our ability to obtain regulatory clearance to commence clinical trials, expectations for regulatory approvals, the impact of competitive products, actions of activist stockholders, our ability to enter into agreements with strategic partners and other matters that could affect the availability or commercial potential of the Company's product candidates, business or economic disruptions due to catastrophes or other events, including natural disasters or public health crises such as the novel coronavirus (referred to as COVID-19). These risks are not exhaustive, Aptevo faces known and unknown risks. Additional risks and factors that may affect results are set forth in Aptevo's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and its subsequent reports on Form 10-Q and current reports on Form 8-K. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from Aptevo's expectations in any forward-looking statement. Any forward-looking statement speaks only as of the date of this press release, and, except as required by law, Aptevo does not assume any obligation to update any forward-looking statement to reflect new information, events, or circumstances.

CONTACTS:InvestorsMiriam Weber MillerAptevo TherapeuticsEmail: IR@apvo.com or Millerm@apvo.comPhone: 206-859-6628

MediaJules AbrahamJQA PartnersEmail: jabraham@jqapartners.comPhone: 917-884-7378

SOURCE: Aptevo Therapeutics

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Aptevo Therapeutics Reports First Complete Remission, Providing Clinical Update for Its Phase 1b Multi Center, Multi Cohort Expansion Trial in the...

The holidays are coming, and that means youre probably hoping to score deals on the hottest gadgets either for gifts for your loved ones, or lets face it, yourself.

But contrary to what some retailers and manufacturers may want you to think, you should avoid buying certain tech items on Black Friday. Whats more, waiting until Black Friday this year might actually be a disadvantage when it comes to shopping for the hottest items.

Want to make sure youre not tossing your hard-earned cash in the trash, or missing out on the best sales? Ive got you covered.

Most people wait to buy their holiday gifts until around Black Friday or Cyber Monday. Retailers have some of their top sales of the year, and its often hard to resist snagging something youve been eyeing for months at a seriously low price.

But as youve probably heard ad nauseam since last year, were living in unprecedented times. The pandemic shut down large swaths of the global supply chain, just as consumers started clamoring for new gadgets, creating a chip shortage expected to last well into 2022 at best.

The biggest issue this year is that there's no guarantee that if you want something in particular that it will be available, explained NerdWallet personal finance expert Kimberly Palmer. So you don't want to wait this year. You want to start shopping early.

Dont have time to shop until youre still digesting your Thanksgiving dinner on Black Friday? Weve got you covered with some shopping tips.

Nothing says Black Friday more than hordes of shoppers scrambling to get their mitts on deeply discounted TVs. But Ive always been of the mind that TVs arent actually worth grabbing during the holiday shopping season. And Im not alone.

TVs are one to watch out for on Black Friday, said Kristin McGrath, editor of The Real Deal by RetailMeNot.

Black Friday TV deals are obviously famous, and they're a huge tradition. But a lot of retailers put their lowest prices on these cheap models.

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Advertisements of the upcoming Black Friday sales are seen on TV screens at a Walmart store in Westminster, Colorado, U.S. November 23, 2016. REUTERS/Rick Wilking

In other words, the TVs you see on sale arent the best on the market. Youre not going to see incredibly deep discounts on sets that have the latest and greatest features like high refresh rates or OLED screens. Instead, youll see either last years models or models that have been pushed out specifically for Black Friday sales.

Besides, holding off a few months to buy a new TV could pay off handsomely.

If you're trying to get a nice TV that's going to last you a while and you don't want to replace it in another couple years, I would say shopping right before the Super Bowl is a better time, McGrath said.

Part of the reason for that is that manufacturers debut their latest models during the annual CES electronics convention in Las Vegas. Retailers, anticipating those units, use the Super Bowl to push last years sets out the door, meaning great discounts for shoppers.

I used to work at a big box electronics retailer. Lets say its name rhymes with Test...Guy. Anyway, people always ran in on Sundays to snag the cheapest laptop on sale. But those systems would invariably be underpowered and need to be replaced in short order. Over the long term, it would be more expensive to keep buying low-powered computers than holding off and buying a more powerful system.

Black Friday is like that scenario on steroids. The incredibly inexpensive laptops that you see on sale are likely the ones that are going to be outdated quickly, if they arent already.

Black Friday shoppers check out Apple laptops on sale on Black Friday, at the Fair Lakes Best Buy store in Fairfax, Virginia. AFP PHOTO Paul J. RICHARDS (Photo credit should read PAUL J. RICHARDS/AFP via Getty Images)

That doesnt mean you wont find good laptops and desktops on sale, though. There are sure to be solid systems that you can get at a discount, but theyre not going to go for the super low prices you see as part of doorbuster deals. Like TVs, if youre looking to save on laptops and desktops, your smartest move is to make sure that you check out the specs.

I suggest anything running an Intel (INTC) Core i5 processor and at least 8GB of RAM is a good benchmark for a system that will last you some time. Its not going to be the Ferrari of PCs more like a Toyota Camry. Relatively inexpensive, not too flashy, and efficient.

If youve got a gamer in your life who wants a PlayStation 5, an Xbox Series X or Series S, or a Nintendo Switch OLED, you better put their expectations in check.

Both the PS5 and Xbox Series consoles have been hard to come by ever since they launched last year, and the chip crisis and supply chain woes havent made things any better. I actually tried getting a PS5 for a friend while writing this article when I saw a notification about available consoles on Twitter. And by the time I got to the site, they were sold out.

Japanese video gaming system brand created and owned by Sony Computer Entertainment, PlayStation 5, is seen at its official store in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)

You can find consoles on secondary marketplaces like eBay (EBAY) and through third-party sellers on Amazon and Walmart.com, but youll have to pay hundreds over their actual retail prices. If youre not one to give up so easily, though, McGrath says retailers like Walmart (WMT) and Target (TGT) will have the consoles online on Black Friday. But keep in mind, youll be fighting everyone else on the internet trying to get a limited number of systems. So dont bet on it.

Headphones actually make for a solid buy during Black Friday and Cyber Monday heck, throughout the holiday shopping season. Theres no real guessing game when it comes to the specs of some of the most well-known headphones. No figuring out if they have a particular processor or not. Its essentially about whether you get earbuds or over-the-ear headphones, and if they include active-noise cancelling technology.

Apple's Airpods. (Photo by Chukrut Budrul/SOPA Images/LightRocket via Getty Images)

I know a few people looking for Apple's (AAPL) AirPods, Google (GOOG, GOOGL) Pixel Buds, and Samsungs Galaxy Buds this shopping season, and Id advise them to jump on any deals they see. Apple recently released its third-generation AirPods with improved audio capabilities, and Beats launched its Beats Fit Pro; both are excellent earbuds and worth checking out.

If you can get them, go for them.

Looking for a quick, easy tech gift that wont sell out for the holidays? Yes, it exists, and its gift cards. Specifically, gift cards for services like Netflix (NFLX), Sony (SONY) PlayStation Plus, and Microsoft's (MSFT) Xbox Game Pass. There are a slew of other available options for different video and music streaming, and game services, and you dont have to worry about them going out of stock.

The discounts on Xbox Game Pass are my personal favorite. The service is already a ridiculous deal at $14.99 per month for more than 100 games that you can play as you want and with included cloud gaming. But during the holiday shopping season you can get cards worth three months of service at steep discounts. It depends on the retailer you choose, but some will sell them for as little as $1.

Id say thats a solid deal.

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Black Friday tech deals: Tips for what to buy and what to avoid - Yahoo Finance

Launched in July with Amazon insights, the platform now covers four additional U.S.-based online retail giants

TEL AVIV, Israel, November 23, 2021--(BUSINESS WIRE)--Similarweb (NYSE: SMWB), the digital intelligence company, today announced the expansion of its retail coverage through Similarweb Shopper Intelligence to include sales and market-share insights for Walmart, Target, Best Buy and Chewy, in addition to Amazon, which became available in July. Available in the U.S. through Beta launch, Similarweb Shopper Intelligence now provides detailed insights into approximately 78% of all sales volume from the top ten online stores in the U.S. *

Now, powerful insight into consumer browsing and purchasing behavior across all five distinct retail leaders is available in one single solution. The expanded Shopper Intelligence offering helps to combat a lack of visibility into category, brand and product-level performance across the most popular retailers and marketplaces.

"When it comes to digital point of sale and consumer behavior, we believe we are well on our way to becoming the standard through this Beta launch," says Benjamin Seror, Chief Product Officer at Similarweb. "We are very excited for the opportunity to work with the largest CPG companies on a unique offering that is better than anything else available in the market."

In the intensely competitive ecommerce landscape, digital intelligence is paramount to understanding potential risks and opportunities. Consumer brands have long suffered from a lack of visibility into competitive performance on the largest marketplaces, making it difficult to optimize their customer experience and drive sales.

Seror adds: "Traditional Digital Shelf and Market Research companies have struggled for years to provide sales and market-share data for retailers other than Amazon, whereas in just six months weve made significant strides in this area. The release of insights for Walmart, Target, Best Buy and Chewy within Shopper Intelligence highlights our ability to innovate at a rapid pace to meet customer needs."

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*Statista - Top online stores in the United States in 2020, by e-commerce net sales

About Similarweb:

As a trusted platform for understanding online behavior, millions of people rely on Similarweb insights to strengthen their knowledge of the digital world. We empower anyone from the curious individual to the enterprise business leader to make smarter decisions by understanding why things happen across the digital ecosystem. Learn more here: https://www.similarweb.com/corp/about/

All data, reports and related materials ("Materials") provided or made available by Similarweb Ltd. or any of its affiliates (collectively, "Similarweb"), are intended for informational purposes only. The Materials are based on data obtained from third parties, including estimations and extrapolations based on such data, and are not intended to be predictive of the movement of the market prices of the securities of the company(ies) referred to therein. Under no circumstances are the Materials to be considered or relied upon in any manner as legal, tax or investment advice. Similarweb shall not be responsible for the accuracy of the Materials and shall have no liability for any decision by any third party based in whole or in part on the Materials. Similarweb Shopper Intelligence solution is not intended for use for investment advisory services, or for any other purpose related to trading in securities. Title and full exclusive ownership rights in the Materials, the underlying data, and any and all other Similarweb intellectual property (including the Similarweb name, logo and other marks) remain solely with Similarweb (except for third party trademarks and logos, which remain the property of their respective owners). All references by Similarweb to third party trademarks are to identify the corresponding third party goods and/or services. Unless specifically identified as such, Similarwebs use of third party trademarks does not indicate any relationship, sponsorship, or endorsement between Similarweb and the owners of these trademarks. All rights not expressly granted herein are reserved.

This Press release may contain certain "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views regarding our intentions, products, services, plans, expectations, strategies and prospects, which are based on information currently available to us and assumptions we have made. Actual results may differ materially from those described in such forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control, including those described in our Securities and Exchange Commission filings and reports including the final prospectus for our initial public offering filed with the Securities and Exchange Commission on May 11, 2021, as well as future filings and reports by us. Except as required by law, we undertake no duty to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211123005460/en/

Contacts

Press: Maayan WeissSimilarwebpress@similarweb.com

Investors: Alex WellinsThe Blueshirt Group, for Similarwebir@similarweb.com

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Similarweb Adds Walmart, Target, Best Buy and Chewy Consumer Insights to its Shopper Intelligence Solution - Yahoo Finance

Transportation Secretary Pete Buttigieg told Yahoo Finance Live supply chain bottlenecks at the country's major ports will likely persist for the foreseeable future.

"We are definitely seeing some immediate impacts of the immediate steps that we have taken, but the honest answer I can give you, as long as the pandemic continues, there will be disruptions," Buttigieg explained.

The supply chain bottlenecks triggered by the pandemic continue to have multiple effects on the U.S. economy.

For one is the straight consumer angle, where shoppers may be unable to find what they want when headed to a retailer. That could become even more acute for the approaching holiday shopping season. But the other aspect is the inflationary aftermath on shoppers as companies raise prices to offset their higher costs notably for shipping.

Consider this: More than 40% of CFOs in a recent Deloitte survey indicate supply chain shortages or delays have increased their companies costs by 5% or more. Meanwhile, 60% said their sales this year have either been reduced or will be by the end of the year due to supply chain problems.

Buttigieg said President Biden's new $1.2 trillion infrastructure package will help improve port congestion and lay the groundwork for better flows of goods coming out of the pandemic.

"In the long-term we will have better ports, better rails and better roads so the core infrastructure all of those private sector processes is more resilient for whatever challenge in the future could come, whether it's another pandemic, whether it is the extreme weather we are seeing more and more of in this era of climate change, or something we haven't even thought of," Buttigieg added.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Transportation Secretary Pete Buttigieg on supply chains: 'There will be disruptions' - Yahoo Finance

Watch live sports, including NFL & NBA games on Yahoo Sports. Get sports news, scores & live results & updates so you dont miss a second of the action.

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HomeSet your favorite teams to get schedules, game highlights, sports news, & live updates in your own personalized news stream. You'll also find can't-miss original news from Yahoo Sportswriters like Dan Wetzel, Chris Haynes, & Pete Thamel, plus a stream of top news across all sports.

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Follow & watch sports:- Football: Free live NFL football for local & primetime games on your phone or tablet. Check out football scores, highlights, breaking news & stats & watch football - college football & NFL games - your way- College Football, College Basketball, Womens College Basketball- MLB: Baseball scores, MLB highlights, breaking news & stats- NBA, WNBA: Watch live NBA games, & get score & live results, basketball highlights, breaking news- NHL: Scores, highlights, breaking news & stats- Soccer: Premier League, League Two, League One, Championship, Scottish Premier League, FA Cup, League Cup- Champions League, Europa League, Copa America,- Ligue 1, Coupe de la Ligue, Coupe de France, Trophee des Champions, Ligue 2,- Bundesliga, German Super Cup, DFB Pokal,- MLS, Russian Premier League, Eredivisie, Brazil Serie A,- Italian Serie A, Coppa Italia, Serie B,- La Liga, Copa del Rey, Segunda Division, Spanish Super Cup- Golf - PGA, LPGA, PGA Champions, PGA Web.com, PGA European,- Auto Racing - NASCAR Sprint, NASCAR Xfinity, IndyCar, Formula 1- MMA + Boxing- Tennis - Men's Tennis, Women's Tennis

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Monday, November 15, 2021

Full disclosure: I have never bought a turkey for Thanksgiving before.

Hang with me here because it's not as weird as it sounds.

For the past 15 years I haven't really had any Thanksgivings (don't pity me, I bring this stuff on myself). Most of the time I was out in stores on Thanksgiving day either channel-checking for clients (when I was an analyst covering retailers) or reporting on the start of Black Friday (as seen here sitting in a Subway inside Walmart back in 2016 timestamped!). Five years ago, I treated myself to a Thanksgiving in my car at a Kmart parking lot around midnight it was a McDonald's chicken sandwich (no timestamped Instagram post here, you will just have to trust me).

Prior to the age of 21, my parents bought the bird and I ate the bird. So bottom line is that I am no turkey-buying expert.

But, that doesn't mean I can't spot a horrible inflationary deal. Case in point: this 18.12-pound Bell & Evans $72.30 turkey I spotted (below) this past weekend ($78 turkey pictured behind it) that I came across at my local supermarket. One Twitter follower told me Bell & Evans is the "Ferrari of turkeys." Yahoo Finance's Ethan Wolff-Mann appeared to echo that hot take in a tweet to me as well. Others told me Butterball turkeys were cheaper.

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I don't care if this turkey comes with a side of Dogecoins and car keys to a free one-day rental of a new Ferrari, this bird is just the latest example of the rapid inflationary environment we are entering. Note, we're ENTERING one, not necessarily already in it.

The price increases by corporate America are about to rain down on all of us in a way many have not seen before in our lifetimes (if you are under the age of 50). Gas prices are breaking through $5 a gallon in many parts of the country, as CNN anchor Wolf Blitzer tweeted. One lodging CEO told me last week hourly wages are soaring 15% to 20%, and even then they are having trouble securing talent (notably in housekeeping). Another retail CEO told me after their earnings call their prices are going up more than 10% this holiday season mostly due to supply chain bottlenecks.

Someone has to bear the brunt of this inflation and it ain't gonna be corporate America, whose singular goal is to drive profits and their stock prices higher. It will be poor schlubs like you and me, and not just via a hit to the digital wallet come Thanksgiving.

Inflation's ugliness also stands to hurt your portfolio if it's not positioned to withstand an earlier than expected pace of interest rate hikes from the Federal Reserve within the next 18 months as a means to kneecap inflationary forces. Goldman Sachs is one of the few teams on the Street sounding the alarm on quicker rate hikes due to inflation.

This is what Goldman said in a weekend note:

"The U.S. economy largely followed the rapid road to recovery that we expected this year and is on track to round out the recovery next year as most of the remaining effects of the pandemic fade. But this year also brought a major surprise: a surge in inflation that has already reached a 30-year high and still has further to go. Mainly for this reason, we recently pulled forward our forecast of the timing of the Feds first rate hike to July 2022, shortly after tapering ends."

Goldman added the rise in inflation has been "startling," and outlined another rate hike in November 2022 after the one anticipated for July.

Hat tip to Jefferies for getting out in front of this inflation reality as well:

"With inflation pressures mounting, we expect the Fed to respond by accelerating the taper at the December meeting, and finishing in March. This will make room for two hikes next year, most likely in September and December."

I expect other teams on the Street to eventually come around to this thinking. Here is what a key portfolio manager at DoubleLine Capital told me on how you can protect your investments against inflation. Ponder it, and let it sink in this week.

In the meantime, enjoy your inflationary Thanksgiving. Maybe I will have one this year for a change.

Odds and ends

Building back better: The Street still hasn't arrived at a consensus thesis on whether the Biden administration's infrastructure plan will only add to the inflationary pressures the economy is experiencing. The majority of folks I have chatted up believe that with the plan spread out over a number of years, it will unlikely be gas on the currently raging inflationary fire. Tune into Yahoo Finance Live around 10 a.m. ET when we dive into the infrastructure package and its potential economic effects with Transportation Secretary Pete Buttigieg.

Meta: Perhaps it was because earnings season bordered on insane last week and it got overlooked, but shares of Meta are beginning to perk up. The stock popped 4% on Friday on a generally muted day for markets. Shares are about 4% higher in November, relatively in line with the Nasdaq Composite. The stock is the second best-performing FAANG component month-to-date, trailing only Amazon with a 4.5% gain.

$6.9 billion: This is how much Tesla stock CEO Elon Musk has unloaded in five straight days in an effort to satisfy taxpayers. The world's richest person still owns roughly 17% of Tesla's stock valued around $180 billion. On another note, Musk tweeting at Sen, Bernie Sanders yesterday is just something, no?

Walmart and Target earnings: My brother texted me a photo of $6 gas prices in California this past weekend. That reminded me about that dreadful consumer sentiment report from Friday and to pay careful attention this week to commentary on earnings reports from Walmart and Target on the consumer impact from higher gas and heating oil prices. This isn't something retail analysts have had to watch too closely for well over a year, but it could play a factor in more cautious than expected holiday quarter outlooks from both retailers (more so Walmart, given its lower income customer base).

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Oatly (OTLY) shares are tanking after the oat-milk producer missed revenue expectations for its latest quarter and slashed its sales guidance.

The results were "disappointing, but also transitory," Cowen senior analyst Brian Holland told Yahoo Finance Live.

Revenue came in at $171.1 million in the third quarter, missing consensus expectations of $185.7 million, based on Bloomberg data.

The company forecasts sales will come in at more than $635 million for the year, a downward revision from its previous forecast for more than $690 million.

"They guided down ... I think resetting expectations is going to help here in the near term. We're going to reset here after this quarter," said Holland.

"The capacity dynamic that's something that's ongoing. With each passing quarter that they can demonstrate that they are able to add capacity as promised, will help the stock."

"On the cost side I think that's going to be with us for the next 6-12 months, and that's not just an Oatly issue. That's across the industry," said Holland.

Supply-chain issues including higher logistics and higher container rates, as well as virus-related disruptions in Asia impacted the company's results.

In EMEA, we are starting to build supply to meet consumer demand, but the pace at which we expected to increase revenue in new and existing retailers and to open new markets is slower than we anticipated as we navigate a dynamic COVID operating environment," Oatly said in its earnings report.

CHICAGO, ILLINOIS - MAY 20: Oatly oat milk and chocolate oat milk are shown on May 20, 2021 in Chicago, Illinois. Oatly began trading on the Nasdaq today after listing its initial public offering at $17-per-share, giving the company an implied valuation of $10 billion. (Photo Illustration by Scott Olson/Getty Images)

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"We believe this is primarily a timing issue and in the first half of 2022, we expect to have an increased share of shelf space at retail given our strong velocities and current supply levels."

"In the Americas, we are pleased with the weekly production output improvements at our Ogden, Utah facility to-date in the fourth quarter, as we navigate a challenging supply chain environment," the company added.

Holland notes the company's top line will improve as supply issues ease.

"Oatly is leaving revenue on the table with their inability to supply," said Holland. "As that improves and again these are the transitory issues. You'd much rather be in this situation right now where this is a supply issue rather than a demand issue."

Oatly went public in May. On Monday, shares were trading as much as 46% below their IPO price of $17 each.

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The metaverse has seemingly just begun to be built, and one tech industry giant says it will surpass the physical world.

Ever since Facebook renamed itself Meta, talk of the metaverse has been everywhere. But companies like Nvidia have already been working on their own virtual worlds. And founder and CEO Jensen Huang has an expansive vision for the technology, and Nvidias place in it.

It is a 3D extension of the internet that is going to be much, much bigger than the 3D physical world that we enjoy today, Huang said in an interview with Yahoo Finance Live. Likewise, the economy of the virtual world will be much, much bigger than the economy of the physical world. Youre going to have more cars built and designed in virtual worlds, youll have more buildings, more roads, more houses more hats, more bags, more jackets.

To understand what he means, its helpful to take a step back.

Yahoo Finances Dan Howley has defined the metaverse as a persistent and virtual world accessible through augmented reality, virtual reality, or even smartphones. Typically designers also talk about a 3D component. The current manifestations likely most familiar to consumers are video games like Fortnite, where players do battle and artists including Ariana Grande have held virtual concerts. People can enter the metaverse using VR headsets to play Beat Saber, or by using virtual platforms like Matterport to tour homes on their laptops or phones.

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Nvidias connection to the metaverse comes through its Omniverse platform, an open-source tool that allows users to build virtual worlds. For now, most of the applications are for businesses. During its conference, the company highlighted the use of digital twins built using Omniverse: Ericsson, for example, is creating virtual versions of cities to figure out how best to lay out its 5G networks.

Huang is particularly excited about the opportunities sparked by the joining of virtualization, artificial intelligence, and robotics. The metaverse will be a place where robots can run through millions of scenarios to learn, then be uploaded into the physical world as a much smarter robot.

Well have millions of robots in the physical world, but were going to have billions of robots in the Omniverse worlds, in the virtual worlds. And these billions of robots are learning to be physical robots you could have a million of them learning how to be one good robot.

Likewise, another kind of robot, so to speak autonomous-driving software could run through millions of driving scenarios in a virtual world to learn how best to react, without the safety risk of learning in the physical world.

While the metaverse is still in its nascent stages, Huang said were on the verge of big changes.

The Omniverse is closer than people think, he said.

Julie Hyman is the co-anchor of Yahoo Finance Live, weekdays 9am-11am ET. Follow her on Twitter @juleshyman, and read her other stories.

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Nvidia CEO: The metaverse will be 'much, much bigger than the physical world' - Yahoo Finance

Nvidias (NVDA) $40 billion ARM deal faces a slew of roadblocks from regulators here and abroad. But Nvidia CEO Jensen Huang said if the deal doesnt go through the company will still continue to perform at the same high level it has been.

Jensen, who was fresh off of a virtual keynote at Nvidias GTC 2021 conference, told Yahoo Finance Live that the company wants to continue to see a large diversity of central processing units (CPUs) available, because it provides more opportunity for Nvidia to add its graphics processing units (GPUs) to the mix to enable things like artificial intelligence (AI).

We would go forward very nicely as were going forward today, Huang said. So we support all CPUs. We love the flourishing of CPUs and the reason for that is because the CPU is the first chip in the system. It boots the operating system. And wherever there are CPUs there are opportunities for accelerated computing.

Nvidia announced its plan to buy ARM from SoftBank in September 2020, but the deal has been hung up in regulatory purgatory for sometime.

The U.S., the U.K. (where ARM is based), the European Union and China are all looking into the potential impact the deal would have on the global chip industry.

ARM is a neutral player in the chip industry, licensing its chip designs and software to firms around the world. Apple, Google, Intel, Microsoft, Qualcomm, and Samsung are just a few of the companies that use ARMs designs to craft their own custom chips.

Nvidia CEO Jensen Huang speaks during a press conference at The MGM during CES 2018 in Las Vegas on January 7, 2018. (Photo by Mandel Ngan / AFP) (Photo credit should read MANDEL NGAN/AFP/Getty Images)

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The fear for them is that Nvidia would no longer allow ARM to act as a neutral third party, and could cut off competing companies from ARMs all-important designs. According to Bloomberg, Google, Microsoft, and Qualcomm have already lodged their complaints about the potential deal with antitrust regulators. Nvidia, for its part, has said that it will maintain ARMs neutrality.

According to Huang, joining Nvidia and ARM will give the British chip designer access to Nvidias deep research and development expertise and pockets.

The benefit of ARM being part of Nvidia is that we could accelerate their R&D scale, Huang said. ARM, as you know, are quite successful in mobile devices. But we could help them be much more successful in all other areas of computing.

Nvidia has been using ARM CPUs for years, including in its new Orin system on a chip, which features a 12-core ARM CPU.

For now the ARM deal will miss its initial deadline of the first half of 2022. Last month, the European Unions European Commission announced it launched an in-depth investigation into the potential deal. How it proceeds will partially determine the ultimate fate of the tie-up.

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The 42m-long Kaws artwork, of the artist's Companion character, seen at The Float @ Marina Bay on Friday (12 November). (PHOTO: Dhany Osman / Yahoo News Singapore)

*This story was updated at 12.30am on 14 November to reflect responses to media queries from the event organisers AllRightsReserved, the artist Kaws and the Singapore Tourism Board.

SINGAPORE The organisers of the Kaws: Holiday Singapore exhibition at The Float @ Marina Bay were on Saturday (13 November) served with a court order to halt the event.

The injunction was obtained by local non-profit outfit The Ryan Foundation (TRF), which is suing the Hong Kong-based organisers AllRightsReserved (ARR).

According to a statement from TRF, the Singapore court issued the order that the exhibition be stopped from taking place and the sale and distribution of relevant merchandise relating to the exhibition halted, as these were in breach of TRFs intellectual property rights and misuse of confidential information.

In addition, all advertising and/or publicity for the exhibition has been ordered to stop, said TRF.

The exhibition venue The Float @ Marina Bay has since been temporarily closed.

Responding to media queries, ARR said the allegations made against them were "groundless" and that the company is seeking "urgent legal advice and will apply to court to challenge the prohibitory injunction order".

"Our company takes this incident very seriously and will take all possible steps to ensure that this exhibition can progress in accordance with the laws of Singapore," said ARR in a statement.

Brian Donnelly, the American artist known as Kaws, said in a separate statement that he had "no contractual agreement" with TRF and that their "accusation is baseless". He also expressed his gratitude for the "overwhelmingly positive" reception he has received in Singapore so far.

Yahoo News Singapore understands that the court order was served on Saturday afternoon to a representative of ARR. Mobile phone footage taken after the order was served showed crowds gathered at the event site.

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The Kaws: Holiday Singapore exhibition, which is supported by the Singapore Tourism Board (STB), is set to open to the public on Sunday and last till 21 November.

Part of the event's highlights include a 42m-long inflatable artwork of Kaws' signature Companion character set up at The Float @ Marina Bay, as well as the sale of merchandise relating to the Singapore show, such as vinyl figures, fans and apparel.

Yahoo News Singapore understands that TRF had previously worked with ARR to try and bring the Kaws: Holiday exhibition to Singapore in 2019, but negotiations for that event eventually fell apart.

TRFs suit relates to information that was allegedly shared between the parties during the discussions which included a site visit for the 2019 show.

Adrian Chan, TRF's director, described the courts granting of the injunction as a victory for all the people who had worked tirelessly on the exhibition since 2019. He added, The injunction could have been averted if questions were raised and stakeholders consulted.

In response to queries from Yahoo News Singapore, STB said it is "aware of the court injunction" against ARR and understands that the organisers are "pursuing all options".

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Singapore court orders Kaws exhibition to be halted; organisers, STB respond - Yahoo News