Wall Street drills Costco stock because it’s paying workers $2 more an hour during COVID-19

So much for doing the right thing.

Costco (COST) shares were drilled to the tune of 3% on Friday after delivering what looked to be an impressive fiscal fourth quarter. The company posted quarterly earnings some 33 cents ahead of analyst estimates, powered by an unworldly 11.4% same-store sales gain. Costco members flocked to warehouses to keep their cupboards stocked up as they continue to spend more time at home during the COVID-19 pandemic. Executives pointed out on an earnings call that it believes the pandemic has brought in new Costco members, too.

To round out the on-paper positives, Costco topped $4 billion in net earnings for the first time in its fiscal year and enters its new fiscal year armed with a $12.3 billion cash war chest.

Then why the selloff in Costco’s stock? Simply put, analysts appear not too pleased Costco continues to pay its workers what has

Read More

Ethiopia: Space Science Drills for Upcoming Generation

FARIS Technology Institute is the first space, robotics and STEM institute in Ethiopia. It launched its services with the intentional catchy-slogan of Making Ethiopia the center of technology in Africa. Taking this into consideration, the institute has provided innovational courses in the fields of robotics, programming and with the provision of STEM courses, to be available to everyone.

Regarding the tasks of FARIS Technology Institute, The Ethiopian Herald has approached Founder and President of the institute, Elias Yirdaw. Excerpts:

Herald: What plans have your institute set to achieve?

Elias: We are imagining fulfilling goals helpful in solving problems in aerospace, aeronautics, STEM Robotics and Artificial intelligence. Down the road we have a do list in providing access to STEM education to a broader audience.

We aim to create a developed and civilized Ethiopia and establishing Space Research Center as well as building Mega Training Center for outstanding students. We have

Read More