U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the close of the S&P 500’s best month in 33 years, a remarkable run driven by expectations the economy will soon start recovering from crushing restrictions enacted to curb the coronavirus pandemic.
Amazon.com Inc on Thursday forecast second-quarter profit below estimates, as the e-commerce company spent more on hiring workers and their pay due to a surge in online shopping during the COVID-19 pandemic.
World equity benchmarks dipped on Thursday to close their best month in 11 years as a rebound in oil prices, encouraging early results from a COVID-19 treatment trial and expectations of more government stimulus helped ease the pain of February and March.
Amgen Inc on Thursday reported better-than-expected first-quarter results on Thursday and said it plans to study psoriasis drug Otezla as a potential treatment for COVID-19, the respiratory disease caused by the new coronavirus.
BlackRock Inc on Thursday said it named London-based financial executive Sandy Boss as its new head of investment stewardship, bringing a more international structure to the top asset manager’s voting on topics like climate change and social issues.
It’s no longer about the economy, or immigration, or any of Trump’s favorite go-to issues. …read more […]
The Fed is going to have a tough time unwinding the credit risk that it is absorbing amid the coronavirus, says Allianz Chief Economic Adviser Mohamed El-Erian. …read more […]
Gilead Sciences’ antiviral drug remdesivir showed “quite good news”, according to White House health advisor Dr. Anthony Fauci. Assistant Professor in Department of Health Policy and Management at the Harvard Global Health Institute Dr. Tom Tsai joins Yahoo Finance’s Seana Smith to discuss the latest. …read more […]
Wells Fargo & Co has revived its special group for bad energy loans in recent weeks as the bank braces for more pain from the sharp downturn in oil prices, people familiar with the matter told Reuters.
Ford Motor Co on Thursday outlined the safety measures it will institute to restart its most profitable U.S. plants amid the coronavirus pandemic, expanding on similar efforts by General Motors Co and Fiat Chrysler to convince leaders of the United Auto Workers union to send members back to work.
As the coronavirus pandemic engulfed the United States, Joe Shia, a consultant to Chinese medical companies, said he was bombarded with inquiries from American firms who saw a golden opportunity in selling tests to determine coronavirus immunity.
Passengers looking to lock in cheaper airfare late this year or early next on American Airlines — or any U.S. carrier — may want to consider the risks. Amid so much change, carriers are unlikely to fly what they’re selling. American executives made that clear Thursday on their first-quarter earnings call, telling analysts the carrier […] …read more […]
U.S. stocks fell on Thursday as grim economic data and mixed earnings prompted investors to take some profits at the close of Wall Street’s best month in decades.
One day after Tesla Inc posted its third quarterly profit in a row, hedge fund manager David Einhorn, one of the electric carmaker’s best-known critics, lobbed questions about the company’s financials at its two top executives. Taking to Twitter on Thursday, Einhorn asked Tesla chief executive officer Elon Musk and chief financial officer Zach Kirkhorn about Tesla’s accounts receivable, costs, idled factories and the impact of currency market movements on the company. “Can you or (Zack) explain,” Einhorn wrote, misspelling the CFO’s first name in the tweet. …read more […]
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