U.S. frozen pork inventories fell in April, when they typically rise, and beef inventories dropped more than normal as the coronavirus pandemic shut slaughterhouses and prompted grocers to limit customers’ buying, government data showed on Thursday.
Nvidia Corp on Thursday forecast second-quarter revenue above analysts’ estimates, as demand surges for its chips used in the data centers that power the shift to working remotely because of the new coronavirus outbreak.
(Bloomberg) — Hewlett Packard Enterprise Co. reported declining sales, and said it would “realign the workforce” and cut costs over the next three years, signaling that the stumbling global economy has dented demand for servers.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal …read more […]
(Bloomberg) — Hewlett Packard Enterprise Co. reported declining sales, and said it would “realign the workforce” and cut costs over the next three years, signaling that the stumbling global economy has dented demand for servers.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal …read more […]
Facebook Inc will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg said on Thursday, accelerating the tech sector’s geographic diversification away from its home in Silicon Valley.
France’s Finance Minister Bruno Le Maire said he has not signed off on a 5 billion euro ($5.47 billion) state-guaranteed loan to help Renault cope with the fallout from the coronavirus, and that discussions continued.
Nvidia Corp on Thursday forecast second-quarter revenue above analysts’ estimates, as demand surges for its chips used in data centers that power the shift to working remotely due to the coronavirus outbreak.
Hewlett Packard Enterprise on Thursday unveiled a plan to cut costs by at least $1 billion by 2022 and said it would reduce the base salary of its chief executive officer by 25%, in response to the impact of the COVID-19 pandemic.
Nvidia released its first-quarter earnings report after hours on Thursday, beating on both top and bottom lines. The company said that coronavirus did impact both supply and demand but expects Q2 revenue to come in above estimates due to the demand for its computing chips. Yahoo Finance’s Myles Udland breaks down the company’s earnings report on The Final Round. …read more […]
President Donald Trump traveled on Thursday to the crucial U.S. election battleground state of Michigan to visit a Ford Motor Co plant amid hostility with its Democratic governor over how quickly to reopen its economy during the coronavirus pandemic, opting not to wear a protective face mask.
Negotiators in the U.S. Senate reached agreement on Thursday on legislation increasing the amount of time, to 16 weeks from the current eight-week deadline, for small businesses to use Paycheck Protection Program loans, according a Senate aide.
Wall Street ended lower on Thursday, a day after hitting two-month highs, on a fresh wave of China-U.S. tensions that raised doubts about the trade deal reached early this year between the world’s two largest economies.
Macy’s Inc said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus.
General Motors Co will restart its eight-speed transmission line at its plant in Silao in Mexico’s Guanajuato state on Thursday, according to a company message sent to workers.
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