United Airlines Holdings Inc on Tuesday announced a public offering of 39.25 million shares aimed at raising more than $1 billion to help shore up capital in the midst of the coronavirus pandemic.
U.S. President Donald Trump on Tuesday welcomed the agreement reached between Republican and Democratic lawmakers to provide more coronavirus relief funding for small businesses and others.
The U.S. Senate on Tuesday unanimously approved $484 billion in additional coronavirus relief for the U.S. economy and hospitals treating people sickened by the pandemic, sending the measure to the House of Representatives for final passage later this week.
Netflix Inc more than doubled its own projections for new customers as quarantined audiences binged on series such as “Tiger King,” but the company predicted a weaker second half of the year if stay-at-home orders to fight the coronavirus are lifted.
First quarter earnings season officially kicked off on April 14. What are the numbers telling us so far?
The economy is bad. Really, really bad.
The big banks kicked things off and made it very clear that the world has changed. These companies reported huge hits to earnings as a result of taking billions of dollars of loss provisions to prepare for loans turning bad.
The banks are a bellwether of the economy. Their loss provisions are based on what they are seeing on the front lines from their customers.
It’s no shock that what the banks are seeing is bad. The economic …read more […]
A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel on Monday as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse.
Ten of the world’s largest banks, including JPMorgan Chase and Bank of America , have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars.
General Motors Co said on Tuesday it is shutting down its Maven car-sharing unit, after suspending operations because of the novel coronavirus.
Uber Technologies Inc on Tuesday launched a website to help its ride-hail and delivery drivers navigate the intricate U.S. unemployment system, with many gig workers still waiting to receive jobless pay provided under a U.S. coronavirus response bill.
(Bloomberg) — Texas Instruments Inc. reported first-quarter revenue that beat analysts’ estimates, helped by customers stocking up on components to avoid potential supply disruptions caused by the Covid-19 pandemic. It also forecast sales that exceeded some Wall Street expectations.Chief Executive Officer Rich Templeton made a rare appearance on an earnings conference call to emphasize that the company will keep plants running and maintain spending on research and new production. The chipmaker also stuck to its pledge to return free cash flow to investors though share buybacks and dividends. The stock rose in extended trading.First-quarter net income fell to $1.17 billion, …read more […]
Boeing said on Tuesday it was naming chief financial officer Greg Smith to oversee a newly formed group that will consolidate several key operational areas. Smith will oversee enterprise operations, finance and strategy and will oversee manufacturing, supply chain and operations, finance, enterprise performance, strategy, enterprise services and administration effective May 1. Boeing said Smith is tasked with restoring “production and supply chain health as Boeing and the broader aerospace industry recover from the COVID-19 pandemic.” …read more […]
Netflix Inc on Tuesday reported a surge in new sign-ups as audiences stayed in their homes to help fight the novel coronavirus and binged on series such as “Tiger King,” but the company predicted a weaker second half of the year if quarantine orders are lifted.
Online lender LendingClub Corp said on Tuesday it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs amid the economic fallout of the COVID-19 pandemic.
ARK Invest analyst Nick Grous spoke with Yahoo Finance about Netflix’s Q1 earnings, and the impact of coronavirus on the streaming giant. …read more […]
Chipotle Mexican Grill Inc on Tuesday reported a 16% drop in March same-store sales while online orders surged, as it was forced to keep stores closed because of the coronavirus pandemic.
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