Month: July 2020

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(Bloomberg) — Tailored Brands Inc., the owner of Men’s Wearhouse and Jos. A. Bank, is preparing a bankruptcy filing that would shutter 400 to 500 stores after the coronavirus lockdown kept America’s office workers at home and stifled demand for new suits.The filing, which could come as soon as this weekend, will give the retailer a chance to cut its borrowings and close unprofitable locations, according to people familiar with the matter. The plan calls for asset-based lenders to provide the company with a loan to keep it operating through the court process, the people said. They asked not to …read more […]

CEO Patrik Frisk, however, said the company remains “appropriately cautious” for the rest of the year as a result of the coronavirus pandemic. …read more […]

Every investor in United States Steel Corporation (NYSE:X) should be aware of the most powerful shareholder groups… …read more […]

The tech giants posted blowout results last quarter. Wedbush Managing Director Dan Ives breaks down the numbers from Apple, Amazon, Facebook and Google with Yahoo Finance’s Alexis Christoforous and Brian Sozzi. …read more […]

Score another win for Beyond Meat in the plant-based food wars. …read more […]

Drug makers Sanofi and GlaxoSmithKline are getting up to $2.1B from the government to develop a coronavirus vaccine. Yahoo Finance’s Anjalee Khemlani has the latest with Alexis Christoforous and Brian Sozzi. …read more […]

(Bloomberg) — Exxon Mobil Corp. and Chevron Corp. posted the worst losses in a generation after the pandemic and a global crude glut combined to batter almost every part of their businesses.Exxon’s $1.1 billion second-quarter loss was the deepest in the company’s modern history. A collapse in crude prices bled the company’s production division while Covid-19 lockdowns lowered demand for everything from jet fuel to plastic wrap, hobbling the company’s refining and chemical units.Chevron recorded its weakest performance in at least three decades and warned that the global pandemic wreaking havoc upon energy markets may continue to drag on earnings. …read more […]

Exxon stood out among its supermajor peers for not taking a large writedown on the value of its assets as the industry outlook darkens on the future of oil and gas prices. Chevron Corp, Total , Royal Dutch Shell , and Eni wrote down billions of dollars in assets. …read more […]

That’s on top of the $590 million reported just a few months ago. Even so, the results were better than expected, causing the stock to shoot up nearly 20 percent before the market opened. …read more […]

Henrik Fisker is raising $2.9 billion to build and market the Fisker Ocean all-electric compact SUV …read more […]

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Pinterest also benefited from its updated shopping feature, with the percentage of users who visited shopping-only feeds growing more than 50% in the first half of the year. It forecast year-over-year revenue growth for July of about 50% through July 29th. Pinterest’s total revenue rose 4% to $272 million, beating analysts’ average estimate of $251.2 million. …read more […]

The 2020 outlook for West Texas Intermediate rose to $37.51 per barrel from June’s $36.10. Oil is “caught-up in a step-wise re-balancing process” with the “pieces moving in the right direction” on the supply side, said Harry Tchilinguirian, head of commodity research at BNP Paribas. A promising vaccine for the virus could, however, fast-track economic recovery and in turn boost oil prices, analysts said. …read more […]

Pinterest, Inc. (NYSE:PINS) shareholders should be happy to see the share price up 28% in the last quarter. But that… …read more […]