Ten of the world’s largest banks, including JPMorgan Chase and Bank of America , have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars.
General Motors Co said on Tuesday it is shutting down its Maven car-sharing unit, after suspending operations because of the novel coronavirus.
Uber Technologies Inc on Tuesday launched a website to help its ride-hail and delivery drivers navigate the intricate U.S. unemployment system, with many gig workers still waiting to receive jobless pay provided under a U.S. coronavirus response bill.
(Bloomberg) — Texas Instruments Inc. reported first-quarter revenue that beat analysts’ estimates, helped by customers stocking up on components to avoid potential supply disruptions caused by the Covid-19 pandemic. It also forecast sales that exceeded some Wall Street expectations.Chief Executive Officer Rich Templeton made a rare appearance on an earnings conference call to emphasize that the company will keep plants running and maintain spending on research and new production. The chipmaker also stuck to its pledge to return free cash flow to investors though share buybacks and dividends. The stock rose in extended trading.First-quarter net income fell to $1.17 billion, …read more […]
Boeing said on Tuesday it was naming chief financial officer Greg Smith to oversee a newly formed group that will consolidate several key operational areas. Smith will oversee enterprise operations, finance and strategy and will oversee manufacturing, supply chain and operations, finance, enterprise performance, strategy, enterprise services and administration effective May 1. Boeing said Smith is tasked with restoring “production and supply chain health as Boeing and the broader aerospace industry recover from the COVID-19 pandemic.” …read more […]
Netflix Inc on Tuesday reported a surge in new sign-ups as audiences stayed in their homes to help fight the novel coronavirus and binged on series such as “Tiger King,” but the company predicted a weaker second half of the year if quarantine orders are lifted.
Online lender LendingClub Corp said on Tuesday it would lay off 460 employees, including President Steven Allocca, as part of a restructuring plan to slash costs amid the economic fallout of the COVID-19 pandemic.
ARK Invest analyst Nick Grous spoke with Yahoo Finance about Netflix’s Q1 earnings, and the impact of coronavirus on the streaming giant. …read more […]
Chipotle Mexican Grill Inc on Tuesday reported a 16% drop in March same-store sales while online orders surged, as it was forced to keep stores closed because of the coronavirus pandemic.
Snap reported 1Q 2020 earnings results after market close Tuesday. …read more […]
Chipotle Mexican Grill Inc on Tuesday reported a 16% fall in March same-store sales, as the coronavirus pandemic forced the company to keep its restaurants closed to diners.
Brent oil futures prices plunged again on Tuesday, extending the oil market’s panic into a second day with no end in sight to a swelling global crude glut as the coronavirus pandemic has obliterated demand for fuel.
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Netflix Inc on Tuesday reported more paid subscribers than expected in the first quarter, as global lockdowns to curb the spread of the novel coronavirus forced people to stay at home and watch shows online including its wildly popular “Tiger King.”
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