Wallis Annenberg Center for the Performing Arts to Remain Closed Through September 23; Virtual Programming Announced

The Wallis Annenberg Center for the Performing Arts in Beverly Hills will not open its two indoor theaters – the Bram Goldsmith and the Lovelace Studio theaters – prior to September 1, 2021, but will be presenting a robust mix of virtual programs.

Read their statement here:

A Community Update from The Wallis

To Our Wallis Family:

We hope that, amidst the backdrop of our unusual landscape right now, you have been able to enjoy The Wallis’ many recent digital offerings over the past few weeks, such as the livestreamed performances of Romantics Anonymous from the UK and Hershey Felder’s George Gershwin Alone from Italy as well as the virtual showcases for GRoW @ The Wallis’ Staged Stories and Beyond Words. For us at The Wallis, they have been our salve. With fall upon us, we thought it was important to update you regarding our current plans.

Last July 30, we shared with you our intended programming for the coming year, full of hope that we would be able to invite you back to our stages in some manner. But we have now determined that The Wallis will not open its two indoor theaters – the Bram Goldsmith and the Lovelace Studio Theaters – prior to September 1, 2021, due to the current state of the viral pandemic, local and county health and safety regulations and significant economic sensitivities. Naturally, this is heartbreaking for all of us, but we do not foresee a viable way to make indoor live performances work safely and economically at this time.

However, our decision does not mean that The Wallis will be inactive or unimaginative while our theaters remain closed! On the contrary, we will continue to provide a robust mix of compelling virtual programs, both artistic and educational, as well as opportunities for

Taiwan September exports seen up for third month in row

TAIPEI (Reuters) – Taiwan’s exports likely rose for a third straight month in September, up 6.6% from a year earlier as people bought electronic goods to work from home during the COVID-19 pandemic, according to a median forecast of 12 analysts polled by Reuters.



a large ship in a body of water: FILE PHOTO: Cargo cranes are seen at Keelung Port during sunset hour in Keelung,


© Reuters/ANN WANG
FILE PHOTO: Cargo cranes are seen at Keelung Port during sunset hour in Keelung,

Taiwan is one of Asia’s major exporters, especially of technology goods, and its export trends are a key gauge of demand for tech gadgets worldwide. Its largest trading partner is China.

Forecasts ranged widely between a growth of 3.8% and 21.6% in the midst of uncertainties over the coronavirus outbreak that has disrupted global supply chains and sent major economies into recession.

Taiwan’s exports have been helped by demand for laptops and tablets to support the work-from-home trend during the pandemic that has forced millions around the world to abandon their offices.

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Exports in August jumped 8.3% from a year earlier to $31.17 billion, the highest monthly tally on record, boosted by Chinese telecom giant Huawei Technologies Co Ltd [HWT.UL] rushing to get in orders at Taiwanese firms before they have to comply with U.S. curbs that took effect last month.

Imports were seen up 3%, after rising 8.5% in August.

Trade data will be released on Wednesday.

The poll also showed deflationary pressures were expected to ease somewhat. The consumer price index (CPI) was tipped to fall 0.3% from a year earlier, compared with a drop of 0.33% in August. Inflation data will be released on Thursday.

(Poll compiled by Carol Lee; Reporting by Ben Blanchard; Editing by Subhranshu Sahu)

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Why Shares of 2U, Inc. Fell 18.2% in September

What happened

Shares of 2U, Inc. (NASDAQ:TWOU) fell 18.6% in the month of September, according to data from S&P Global Market Intelligence. The online education provider cooled off after the stock had run up over the first eight months of the year, like much of the technology sector. 2U did recently sell shares to the public, but that was back in August after a strong second quarter earnings report.

Additionally, the company may have suffered from some guilt-by-association after another online education rival came under scrutiny by a short-seller.

A college-aged woman take an online class  on her laptop.

Image source: Getty Images.

So what

In the second week of September, online education rival K12 (NYSE:LRN) fell after the Miami-Dade schools district cut ties with K12 after trying it out. Short-selling firm Safkhet Capital applauded the decision and called K12 an “education vulture.”

The heightened scrutiny of K12 might have affected how investors view the risk of other companies in the online education space, 2U included.

Now what

When a company trades at a relatively high valuation, ancillary or minor negative headlines can have a big effect on the stock movement. That may have been the case with 2U, which had gone up a lot this year as work and educate-from-home names skyrocketed.

Last quarter, 2U reported 35% revenue growth, but adjusting for the recent acquisition of short-course higher education company Trilogy, organic revenue growth was only 18%.

Though 2U trades at a cheap-looking 3.2 times sales when compared with other software stocks, the company still lost a whopping $312 million over the past 12 months. With Miami-Dade showing that relationships between educational institutions and online service providers may not be so “sticky” after all, investors fled high-flying online education providers for safer pastures this fall.

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