Trading Ideas
Oil, Netflix, Chipotle earnings: What to know in markets Tuesday
Crude oil, Netflix and Chipotle earnings will be on investors’ radars Tuesday. …read more […]
Month: April 2020
Business News
Negative $40 oil reflects panic – and U.S. crude market economic reality
Traders desperate to avoid owning oil fled the markets on Monday, sending crude futures into negative territory for the first time ever, in recognition that the coronavirus pandemic has sapped demand for fuel and there is not enough storage for the massive glut of oil present on U.S. soil.
Business News
Masked McConnell sets Tuesday U.S. Senate session for relief bill
Leaders of the U.S. Congress inched closer on Monday to a possible $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with the Senate setting a Tuesday session for a potential vote on the measure.
Business News
Trump hopes for deal in U.S. Congress on small business program, vote possible in Senate Tuesday
U.S. President Donald Trump said on Monday he hoped negotiators in Congress would reach a deal to provide more aid for small businesses hurt by the coronavirus pandemic, with a vote possible in the Senate on Tuesday.
Business News
U.S. car rental company Hertz to lay off 10,000 staff on coronavirus hit
U.S. car rental company Hertz Global Holdings Inc said on Monday it plans to lay off 10,000 employees across its North America operations to cut costs amid the economic fallout of the COVID-19 pandemic.
Trading Ideas
Trading Ideas
Trading Ideas
U.S. car rental company Hertz to lay off 10,000 staff on coronavirus hit
Hertz had about 38,000 employees as of Dec. 31, 2019, of which 29,000 were at its U.S. operations. The company, which counts billionaire investor Carl Icahn as its largest shareholder, will incur employee termination costs of about $30 million, it said in a regulatory filing. The terminations were effective April 14 for non-union employees and effective April 21 for union employees, the company said. …read more […]
Trading Ideas
Wells Fargo, JPMorgan Among Banks Sued Over SBA Virus Loans
(Bloomberg) — Wells Fargo & Co., Bank of America Corp., JPMorgan Chase & Co. and US Bancorp were sued by small businesses that accused the lenders of prioritizing large loans distributed as part of the virus rescue package, shutting out the smallest firms that sought money.The four banks processed applications for the largest loan amounts because they generated the highest fees, rather than processing them on a first-come-first-served basis as the government promised, according to lawsuits filed Sunday in federal court in Los Angeles.As a result, thousands of small businesses that were entitled to loans under the program administered by …read more […]
Business News
Oil price crashes into negative territory for the first time in history amid pandemic
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.
Trading Ideas
Crude oil shocks traders as WTI trades negative to -40.32
Stocks tumble after crude oil trades negative for the first time ever. Yahoo Finance’s Jared Blikre joins Jen Rogers to break down the day’s price action, along with a Yahoo Finance Premium Investment Idea to short Orange S.A. (ORAN) for a potential 5 to 1 reward risk ratio. …read more […]
Business News
WeWork committee pushes back against SoftBank, defends right to represent shareholders
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
Business News
IBM withdraws 2020 forecast on virus uncertainty, dividends to continue
International Business Machines Corp on Monday withdrew its 2020 annual forecast due to uncertainty caused by COVID-19, but said its customers were relatively well positioned for the pandemic and it would continue to pay dividends.
Business News
IMF may need ‘exceptional measures’ to facilitate pandemic response: Georgieva
The International Monetary Fund may need to step outside its comfort zone and consider “exceptional measures” to help countries deal with the coronavirus pandemic and mitigate its economic impact, Managing Director Kristalina Georgieva said on Monday.
Business News
Wall Street drops as oil traders cannot give away U.S. crude
Wall Street tumbled on Monday after U.S. crude futures turned negative for the first time ever, with traders forced to pay to unload crude as the May contract expired during a global economic slump unleashed by the coronavirus outbreak.