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 […]
Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but auto makers are betting the crisis will help accelerate an electric future. With economies reeling from lockdowns to curb the virus, the sharpest plunge in oil prices in two decades has slashed the cost of filling up a tank of gas, eroding some of the incentive to make the switch to cleaner fuels. Looking ahead, cuts in capital spending forced upon energy companies as their revenues crumble could tighten supply enough to cause a spike in oil prices, making …read more […]
Southwest Airlines Co said on Tuesday it recorded positive bookings on a net basis through May 18, as passenger reservations outpaced trip cancellations.
Steel-to-submarines conglomerate Thyssenkrupp has changed the structure of its sprawling empire, splitting operations into three categories as it seeks to simplify the business, stop cash burn and revive its battered share price.
Mitsubishi Motors Corp will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend.
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I remember like yesterday the conversations and conundrums surrounding Y2K. Pundits were all over the map, from “Nothing will happen” to “We’re going to be living in caves and whittling cooking utensils with pocketknives.”
Sorting out the …read more […]
Shares of Home Depot, which have gained 12.4% this year, dropped nearly 3% to $238.50 in premarket trading, as the company also scrapped its full-year outlook, citing uncertainties stemming from the pandemic. Home Depot said it incurred about $850 million of pre-tax expenses in the first quarter, as it provided additional bonuses, doubled pay for overtime and added more hours of paid time-off for employees working during a surge of panic buying of cleaning supplies and masks. The company’s net earnings fell to $2.25 billion, or $2.08 per share, in the first quarter ended May 3, from $2.51 …read more […]
JPMorgan Chase & Co has given out more than $30 billion in loans to over 250,000 businesses as part of the United States’ coronavirus aid program for small businesses, Chief Executive Officer Jamie Dimon said in a memo on Tuesday.
Home Depot Inc reported a 6.4% rise in quarterly same-store sales on Tuesday, as the COVID-19 pandemic caused a surge in demand for cleaning supplies and masks at the home improvement chain’s stores.
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