Johnson & Johnson on Tuesday beat analysts’ estimates for first-quarter profit on higher sales of its cancer drugs and consumer products including Tylenol, while slashing its full-year forecast due to the coronavirus shutdowns.
Celebrations may be in order for Blue Apron Holdings, Inc. (NYSE:APRN) shareholders, with the analysts delivering a… …read more […]
Top news and what to watch in the markets on Tuesday, April 14, 2020. …read more […]
Toyota Motor Corp on Monday said it plans to restart limited production at vehicle plants in France and Poland from April 22 after closing them due to the coronavirus pandemic.
Exxon Mobil (XOM), the US’s largest oil producer, has now raised $9.5 billion in new debt by selling five different bonds with durations of five years to 31 years. In a sign of strong investor demand, XOM raised $9.5 billion instead of the $9 billion originally intended.Moreover, the company paid a lower price to borrow than it did in the $8.5 billion March deal. For instance, it now priced a 10.5-year bond worth $2 billion at a 185 basis-point premium to U.S. Treasuries with a 2.61% yield, whereas in March, Exxon sold $2 billion in debt with a 10-year duration …read more […]
The shares of Norwegian Air plummeted on Tuesday, and have now eroded almost their entire value from a 2015 peak, as the airline’s survival depends on creditors accepting a rescue plan proposed last week.
(Bloomberg) — Norwegian Air Shuttle ASA is fighting for survival, with a last-ditch plan to convert debt to equity driving its share price down as much as 63% during the first frantic moments of trading on Tuesday.Norwegian Air’s proposal will dilute shareholders already counting their losses after Covid-19 ruined the company’s efforts to return to profitability. The plan calls for creditors, including aircraft lessors and suppliers, to convert as much as 44.5 billion kroner ($4.3 billion) in debt in order to meet government terms for the carrier to access a state aid package, and for a private placement.In the first …read more […]
There are many industries that are not performing well in the current market environment. That said, if you’re currently in business, cloud computing isn’t a bad place to be even now. As a result, there are some cloud computing stocks definitely worth watching right now.
What is Cloud Computing?
First of all, what is “the cloud.” It is not some fluffy white mist in the sky. The cloud is essentially composed of computer servers that enable you to access applications and software from anywhere in the world via the internet.
Do you remember the days when you had to physically load software …read more […]
(Bloomberg) — Saudi Arabia might have just signed off on one of the most notable oil output deals in history, but challenges lie ahead as the kingdom faces keen competition from rival suppliers to the prized Asian market.That perhaps explains why the de-facto leader of OPEC slashed its official selling prices to Asian customers for May by larger-than-expected margins this week. Eight of eleven refiners across the region surveyed by Bloomberg welcomed Saudi Aramco’s aggressive marketing strategy, while the remaining three said they had expected even steeper discounts.Despite the price war being defused over the weekend, there’s no reason to …read more […]
Oil prices edged lower on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support.
British clothing retailer Next has closed its re-opened website to orders until Wednesday after reaching a self-imposed daily order limit.
J.C. Penney Co Inc has approached consulting firm AlixPartners LLP as the U.S. retailer looks at options for managing its debt, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.
In a bid to further cut costs, Tesla (TSLA) is pursuing a reduction in rent, according to correspondence viewed by The Wall Street Journal.“The rapid world pandemic that is now affecting our country has led Tesla to make strategic decisions to ensure the company’s long-term success and growth,” said the email sent to landlords, as seen by The Wall Street Journal. “As a result of the increasing restrictions on our ability to conduct business, we would like to inform you that we will be reducing our monthly rent obligations effective immediately.”The automaker told its landlords that it would like to …read more […]
World stocks gained on Tuesday after Chinese trade data came in better than expected and some countries tried to restart their economy by partly lifting restrictions aimed at containing the coronavirus outbreak.
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