2 Stanford economists win Nobel prize for improving auctions

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Winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2020 at a press conference in Stockholm, Monday Oct. 12, 2020. Americans Paul R. Milgrom, left, and Robert B. Wilson have won the Nobel Prize in economics for “improvements to auction theory and inventions of new auction formats.”

AP

Two American economists won the Nobel Prize for improving how auctions work, research that underlies much of today’s economy — from the way Google sells advertising to the way telecoms companies acquire airwaves from the government.

The discoveries of Paul R. Milgrom and Robert B. Wilson, both of Stanford University, “have benefitted sellers, buyers and taxpayers around the world,” the Nobel Committee said.

Wilson was once Milgrom’s Ph.D. adviser, and the two also happen to be neighbors. Reached by phone at his home in California, Milgrom said he received news of their win

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Big tech weighs on U.S., world equities, capping gains on Trump’s improving health

NEW YORK (Reuters) – Large-cap tech stocks weighed on U.S. and European equities on Tuesday despite reassurances about President Donald Trump’s improving health and progress toward a stimulus deal.

Men wearing protective face masks chat in front of a screen displaying Nikkei share average and world stock indexes outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan October 5, 2020. REUTERS/Issei Kato

President Trump said he felt “real good” upon returning to the White House after a three-day hospital stay where he received an experimental treatment for COVID-19.

“The view that Trump appears to be on the road of recovery is benefiting the global markets because it indicates that there is stability in the White House,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

But market-leading large cap tech stocks weighed on U.S. stocks after reports that the U.S. House of Representative’s upcoming

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How Technology Is Improving Access And Empowering Older Adults To Embrace Telehealth

COVID-19 has greatly changed how we care for ourselves and has resulted in a massive change to how we connect with our doctors. Providers are seeing 50-175 times the number of patients via telehealth visits than they did before the pandemic, and Forrester predicts that virtual care visits will soar to more than 1 billion by the end of 2020, including 900 million visits related to the coronavirus.

Telehealth has great potential to increase healthcare access for everyone during the pandemic, and this is especially important for older adults and other populations at higher risk of contracting COVID-19. But, virtual visits can also be stressful for those with an aversion to using technology to speak with their doctor.

As patients who might’ve shied away from technology in the past now need to use it to connect with their doctors, it’s important for healthcare providers to ensure their telemedicine platforms

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Improving Wikipedia Pages Leads To Big Tourist Dollars

A new study has discovered that making small changes in Wikipedia can hugely increase tourist revenue for small cities and large towns.

As reported by The Guardian, the findings suggest that it makes more sense for small cities to just update their Wikipedia pages, rather than employing marketing agencies or publishing glossy brochures inviting people to visit.

The research was conducted by Assistant Professor Marit Hinnosaar at the Collegio Carlo Alberto in Turin, Italy and involving NEW in Mannheim, Germany.

The study discovered that making small improvements to city’s pages can have a really sizeable impact on tourists’ choices, leading to an increase in hotel stays of 9%—an annual increase in tourist revenue of $129,000.

The authors randomly selected Spanish cities and then added content to those city’s

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Looking at the Improving Outlook Ahead of Q3 Earnings Season

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>

Here are the key points:

  • The outlook for corporate earnings has been steadily improving since early July, driven mostly by a better-than-expected economic recovery. This trend has been confirmed by the early 2020 Q3 recent earnings releases.
     
  • For 2020 Q3, total S&P 500 earnings are expected to decline -22.8% on -2.8% lower revenues. This is an improvement from the -26.5% earnings decline expected at the start of July and follows the -32.4% earnings drop in Q2.
     
  • Sectors with the weakest Q3 growth outlook remain the social-distancing exposed spaces like Transportation (-122.5% earnings decline), Energy (-102.2%), and Consumer Discretionary (-85.7%).
     
  • Out of the total 16 Zacks sectors, 14 sectors are expected to experience earnings declines in Q3,
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A Wall Street strategist says it’s time to exit tech stocks, and recommends 3 sectors that are cheaper and steadily improving


 

  • Steven DeSanctis of Jefferies told CNBC on Tuesday that many large technology stocks are getting “pricey” and investors should look for alternatives in other sectors. 
  • “At nine times revenue, 10 times revenue, it gets a little pricey, and with that any bad news will actually be a huge detriment to these stocks,” the equity strategist said, referring to technology stocks. 
  • He recommends investors buy stocks in industrials, consumer discretionary, and materials sectors as alternatives to technology.

Steven DeSanctis, Jefferies equity strategist, told CNBC on Tuesday that many large technology stocks are getting “pricey” and there are cheaper alternatives that investors can buy now.

“At some point you have to say what is too high,” DeSanctis said, referring to tech stock valuations. “At nine times revenue, 10 times revenue, it gets a little pricey, and with that any bad news will actually be a huge detriment to

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Understanding how the conditionally approved COVID-19 drug works is key to improving treatments, says researcher — ScienceDaily

Researchers at the University of Alberta have discovered a novel, second mechanism of action by the antiviral drug remdesivir against SARS-CoV-2, according to findings published today in the Journal of Biological Chemistry.

The research team previously demonstrated how remdesivir inhibits the COVID-19 virus’s polymerase or replication machinery in a test tube.

Matthias Götte, chair of medical microbiology and immunology in the Faculty of Medicine & Dentistry, likened the polymerase to the engine of the virus. He said the first mechanism the team identified is like putting diesel fuel into an engine that needs regular gasoline.

“You can imagine that if you give it more and more diesel, you will go slower and slower and slower,” he said.

The newly identified mechanism is more like a roadblock, “so if you want to go from A to B with the wrong fuel and terrible road conditions, you either never reach B

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