U.S. stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country’s biggest coronavirus hot spot, fueled optimism a leveling off of the pandemic was on the horizon.
With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot’s owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger.
U.S. insurer Allstate Corp said on Monday it would return more than $600 million in auto insurance premiums to customers as many Americans drive less due to “shelter-in-place” orders to curb the coronavirus outbreak.
British drugmaker GlaxoSmithKline (GSK) and Vir Biotechnology Inc (VIR) on Monday announced a partnership to develop potential antibody treatments for COVID-19, the disease caused by the coronavirus.As part of the collaboration agreement GSK will make an investment in Vir of $250 million, priced at $37.73, representing a 10% premium to the closing share price on March 27, 2020, according to the announcement. Vir’s shares soared as much as 34% rising to around $39 in early U.S. trading following the news of GSK’s investment.Wall Street analysts take a cautious stance on Vir’s stock. The Hold analyst consensus rating is based on …read more […]
With a market cap of a miniscule $10.16 million, you can firmly place biotech Capricor Therapeutics (CAPR) in the nano cap section. Although, according to one analyst, if recent developments are anything to go by, the Beverly Hills, California based company won’t be in the small fry category for much longer.H.C. Wainwright’s Joseph Pantginis reiterated a Buy on Capricor along with a $9.00 price target. The implication for investors? Potential upside of a humungous 737%. (To watch Pantginis’s track record, click here)So, what is driving an analyst to set such an extravagant target for such a tiny player? Well, among …read more […]
On Monday, workers at an Amazon warehouse in Staten Island walked off the job for a second time, just one week after holding an initial strike, citing continued coronavirus fears amid 26 cases of the virus at the warehouse. …read more […]
World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some global hot spots, oil prices tumbled again due to a delay in talks between Saudi Arabia and Russia to cut supply.
Honda Motor Co and Fiat Chrysler Automobiles NV said on Monday they will extend their auto production shutdown in the United States and Canada to all of April.
8×8 CEO Vik Verma joins Yahoo Finance’s Seana Smith to discuss the company’s increase in usage amid the COVID-19 pandemic, as Zoom encounters concerns over its security and privacy. …read more […]
The governors of New York and New Jersey said on Monday their states were showing tentative signs of a “flattening” of the coronavirus outbreak, but they warned against complacency as the nationwide death toll topped 10,000 and the number of cases reached 350,000.
A near total closure of U.S. businesses as authorities try to control the spread of the novel coronavirus could make U.S. economic data unreliable in the coming months and harder to get a clearer picture of the severity of the recession caused by the virus.
The New York Stock Exchange said on Monday it was in talks with regulators to temporarily ease its listing requirements to take the strain off companies that may have fallen out of compliance due to the market rout spurred by the coronavirus.
Airbus said on Monday it had decided additional production pauses, in Germany and in the United States, in response to an industry-wide slowdown triggered by the coronavirus crisis.
RavnAir Group, the largest regional carrier in Alaska, filed for bankruptcy on Sunday and grounded all of its 72 planes, saying it was clear that government aid would not arrive before it ran out of cash in the midst of an “astonishing” decline in bookings and revenue due to the coronavirus.
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