U.S. President Donald Trump’s administration has awarded a $354 million contract to U.S.-based Phlow Corp to manufacture drugs being tested or used to fight the new coronavirus as well as some medicines that are in shortage.
United Airlines Holdings Inc said on Tuesday it has seen a moderate improvement in demand for air travel so far in May in the United States and some international markets, as well as a reduction in cancellation rates.
Kohl’s was forced to close all its U.S. stores to curb the spread of the virus, hammering sales and sending shares in the retailer some 63% lower so far this year. The company, which owns over 1,100 stores in the United States, had earlier withdrawn its full-year forecast, suspended share buyback plan and borrowed money to combat the pandemic’s impact. Department stores have been struggling even before the pandemic as consumers shift to online shopping and competition from fast-fashion brands add to the pressure. …read more […]
U.S. securities filings show that only three of 12 listed oil and gas companies that received emergency government aid made available for small businesses said they would return it ahead of a deadline for firms that do not need the funds to do so. The U.S. Treasury Department offered amnesty to public companies that return money they borrowed by May 18, saying it would deem they made the application in good faith due to economic uncertainty fueled by the coronavirus outbreak, before guidelines were clarified. The country’s energy sector has been clamoring for government aid in the wake …read more […]
Kohl’s Corp reported a surge in online sales in its coronavirus-hit first quarter on Tuesday and said it had reopened nearly half its stores as lockdowns eased across the United States, sending its shares around 5% higher.
U.S. drug manufacturer Phlow said on Tuesday it had received $354 million from the government to speed up the manufacturing of drugs being tested and used to fight the new coronavirus.
Airlines have been the among the worst hit by the coronavirus crisis, which brought travel to a virtual standstill around the world. “The company has also recently experienced a modest improvement in passenger demand and bookings in June 2020,” Southwest said in a regulatory filing. …read more […]
Walmart has also been ramping up hiring, temporarily increasing wages and spending more on the maintenance of its stores and fulfillment centers as frustrations mount among U.S. warehouse, delivery and retail workers in the United States over concerns about their safety and pay. Walmart also said it would discontinue Jet.com, an online start-up it acquired in 2016 for $3.3 billion. …read more […]
Asda, the British supermarket arm of the world’s biggest retailer Walmart , said on Tuesday its first-quarter comparable sales rose 3.5%, boosted by consumers stocking-up on food in response to the coronavirus crisis.
Home Depot Inc missed estimates for quarterly profit on Tuesday, as the home improvement chain spent about $850 million on benefits for employees keeping its stores and warehouses running through the COVID-19 pandemic.
Walmart Inc’s first-quarter U.S. comparable sales rose 10% and the retailer reported a 74% rise in online revenue on Tuesday as stockpiling of groceries and other staples drove consumers to its stores and website during the coronavirus-related lockdowns, sending its shares up nearly 4%.
Kohl’s Corp reported a bigger-than-expected loss on Tuesday, as the department store chain’s stores remained shut for most of the first quarter due to the COVID-19 lockdowns.
Oil prices were steady on Tuesday amid signs that producers are cutting output as promised while traders awaited more clarity on the demand picture as some countries ease out of lockdowns.
Bluebird Bio (BLUE) priced an offering of 9.09 million shares of its common stock at $55 each, the company said late on Monday.The gene therapy company, which expects the offering to close on May 21, seeks to raise gross proceeds of about $500 million from the sale. Shares in Bluebird were down 0.2% at $57 in Tuesday’s pre-market trading in the U.S. after plunging 34% year-to-date.Bluebird is also giving the underwriters a 30-day option to buy up to an additional 1.36 million shares in common stock. Goldman Sachs, BofA Securities and Cowen are acting as joint book-running managers of the …read more […]
The world’s largest retailer was a go-to destination as consumers stocked up during the pandemic. …read more […]
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