Thousands of visitors streamed into Shanghai Disneyland on Monday for the first time in three months as the Chinese park became the first reopened by Walt Disney after the coronavirus pandemic brought the Magic Kingdom to a standstill. While Mickey Mouse joined familiar Disney characters welcoming the crowds, the Shanghai experience will not be as it was: Instead of parades and fireworks, there are mandatory masks, temperature screenings, and social distancing for visitors and employees. Disney’s $5.5 billion China flagship is the first of its six resorts around the world to reopen after the pandemic (CNBC)
As concerns grow about reliance on Asia as a source of critical technology, the administration is meeting with semiconductor companies looking to develop chip factories in the U.S., WSJ reports. Officials are discussing new foundries with Intel and Taiwan Semiconductor, and are interested in helping Samsung Electronics expand operations. "This is more important than ever, given the uncertainty created by the current geopolitical environment," Intel CEO Bob Swan wrote in a letter to the U.S. Department of Defense. (SA)
Under Armour this morning reported a sales decline of 23% during its first quarter as its business took a blow from the coronavirus pandemic and its stores were forced shut, freezing its turnaround plans. The athletic apparel company said it plans to cut about operating costs in 2020 to help it weather the crisis, including by temporarily laying off some retail employees. For the quarter, Under Armour reported a net loss of $589.7 million.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.