Wireless equipment maker PCTEL said Thursday it’s suspending a share repurchase program because of COVID-19. The company had repurchased 375,000 shares for about $2 million. “Given the uncertainty surrounding the COVID-19 virus and its impact on economic and market conditions, the Board determined that it is prudent to terminate" the program, said CEO David Neumann: “Maintaining our strong balance sheet will allow PCTEL flexibility to address the unique and evolving challenges.” The stock closed up 1.12% at $5.42.
The Trump administration should “lift” tariffs on more than 60 categories of “healthcare-essential” information and communications technology (ICT) products to help fight COVID-19, urged the Information Technology Industry Council Thursday. “Relief” would "directly contribute to the U.S. economic and public health response,” said ITI. “A range of ICT products and components are at the heart of detecting and treating illnesses, recording and tracking vital signs, and conducting tests." Processors, controllers and integrated circuits imported from China under the 8542.31.00 tariff code are “foundational to a variety of medical equipment,” it said. List 2 tariffs on 8542.31.00 goods were imposed in August 2018 and now are at 25%. "Tariffs act as direct impediments to U.S. governments, consumers and businesses, and we would encourage the removal of tariffs by any means to increase confidence in the COVID-19 response and support economic recovery,” the tech group said. Sen. Susan Collins, R-Maine, and the U.S. Chamber of Commerce urge deferring levies for 90 days. ITI seeks full removal.
Direct agencies to “extend public comment periods by at least 45 days” after the end of the COVID-19 “emergency,” House committee chairmen wrote OMB Wednesday. They also requested rescheduling of hearings and meetings. Fourteen chairmen signed, including House Commerce Committee's Frank Pallone, D-N.J.; House Judiciary's Jerry Nadler, D-N.Y.; and House Homeland Security's Bennie Thompson, D-Miss. OMB didn’t comment Thursday.
COVID-19 “unexpectedly impacted” BlackBerry’s technology solutions business, said CEO John Chen on a fiscal Q4 call Tuesday. “We expect this trend to continue over the near future due to the temporary global auto production shutdowns and related slowdowns of auto sales.” Customers “have become more cautious in the decision-making related to capital expenditure and development,” said Chen. “Two large transactions with reliable customers” were delayed, harming results for Q4 ended Feb. 29, he said: It may recoup the lost deals later in calendar 2020 when “the business environment returns to normal.” The company anticipates a “tough” Q1 ending late May “due to the COVID-19 impact on our business,” said Chen. “This may linger into the second quarter, but we do anticipate a stronger second half” than the first, he said. “We do not believe this current global crisis changes BlackBerry’s strategy” toward “long-term profitability growth and value creation,” he said. Wednesday, Fiat Chrysler Automobiles US reported a 10% decline in Q1 sales. BlackBerry shares plunged 18.6% Wednesday to close at $3.36.
COVID-19 forced ATSC to postpone its Next Gen Broadcast Conference to Aug. 27-28, said President Madeleine Noland Wednesday. It will hold a members-only remote annual meeting on the original May 20 date, she said: “Only time will tell what the long-term impact this pandemic will have on the broadcasting industry.”
The “emergency” disrupted copyright system functions, so the Copyright Office is adjusting timing provisions, the CO announced Wednesday. It's making emergency modifications, in effect for 60 days, based on authority granted from the COVID-19 relief package (see 2003270058). Timing remains unchanged for applications that can be submitted entirely electronically. Applicants who can't submit an application electronically or physically may submit one after the disruption ends. The office waived timing requirements in certain circumstances for recording notices of termination.
Wireless Infrastructure Association President Jonathan Adelstein told FCC Commissioner Brendan Carr about the problems his members are having getting proposed projects reviewed in a timely manner by local governments during COVID-19 (see 2003270060). “WIA hopes that telecom-related projects can be prioritized, so even in a shorthanded environment, local governments can meet their statutory obligations, and these applications can be received, reviewed, and process[ed] in a timely manner,” said a filing posted Tuesday in docket 17-79. “Disruption to normal permitting processes is starting to impact the construction of new towers and upgrading existing equipment” and could slow deployment of 5G, WIA warned.
The U.S. Judicial Conference is temporarily allowing teleconferencing in federal courts for civil proceedings, plus video and teleconferencing for some criminal proceedings, during the COVID-19 pandemic, it said Tuesday. It said authorization ends when it finds federal courts are no longer materially affected or 30 days after the national emergency ends, whichever is sooner. Its executive committee approved allowing judges to authorize teleconferencing to allow audio access when the public can't enter courthouses.
Among U.S. broadband households, 36% listen to podcasts weekly, with popularity stronger among younger consumers, Parks Associates said Tuesday. Nearly half of podcast consumes are heavy users, listening to five or more hours a week. U.S. broadband households that listen to podcasts listen to, on average, five weekly. IHeartMedia said listenership for its podcast network is up 6% month over month, higher in markets under shelter-in-place orders. It said California listenership jumped 13% and New York listenership 8% in one week: "Americans are consuming a vast array of podcasts as they stay home and practice social distancing during the COVID-19 pandemic."
Daytime TV watching levels are up almost 10% at 6 a.m. compared with a year ago, and growth continues through morning and daytime, Comscore said Tuesday. Data comes from New York, Dallas, Atlanta, Sacramento and Indianapolis markets, it said. In 2019, viewership levels peaked at around 8 a.m. and stay flat through much of the day. The COVID-19 pandemic seems to have changed things, viewership growing until noon and plateauing then, it said. The biggest jumps are during "commute-heavy hours" of 7-9 a.m. There's big daytime growth in smaller markets, with Wilkes Barre-Scranton-Hazleton in Pennsylvania rising more than 30% for local newscasts during daytime, early fringe, prime access and late news periods.