Trading Ideas
Year: 2020
Trading Ideas
U.S. car rental company Hertz to lay off 10,000 staff on coronavirus hit
Hertz had about 38,000 employees as of Dec. 31, 2019, of which 29,000 were at its U.S. operations. The company, which counts billionaire investor Carl Icahn as its largest shareholder, will incur employee termination costs of about $30 million, it said in a regulatory filing. The terminations were effective April 14 for non-union employees and effective April 21 for union employees, the company said. …read more […]
Trading Ideas
Wells Fargo, JPMorgan Among Banks Sued Over SBA Virus Loans
(Bloomberg) — Wells Fargo & Co., Bank of America Corp., JPMorgan Chase & Co. and US Bancorp were sued by small businesses that accused the lenders of prioritizing large loans distributed as part of the virus rescue package, shutting out the smallest firms that sought money.The four banks processed applications for the largest loan amounts because they generated the highest fees, rather than processing them on a first-come-first-served basis as the government promised, according to lawsuits filed Sunday in federal court in Los Angeles.As a result, thousands of small businesses that were entitled to loans under the program administered by …read more […]
Business News
Oil price crashes into negative territory for the first time in history amid pandemic
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.
Trading Ideas
Crude oil shocks traders as WTI trades negative to -40.32
Stocks tumble after crude oil trades negative for the first time ever. Yahoo Finance’s Jared Blikre joins Jen Rogers to break down the day’s price action, along with a Yahoo Finance Premium Investment Idea to short Orange S.A. (ORAN) for a potential 5 to 1 reward risk ratio. …read more […]
Business News
WeWork committee pushes back against SoftBank, defends right to represent shareholders
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
Business News
IBM withdraws 2020 forecast on virus uncertainty, dividends to continue
International Business Machines Corp on Monday withdrew its 2020 annual forecast due to uncertainty caused by COVID-19, but said its customers were relatively well positioned for the pandemic and it would continue to pay dividends.
Business News
IMF may need ‘exceptional measures’ to facilitate pandemic response: Georgieva
The International Monetary Fund may need to step outside its comfort zone and consider “exceptional measures” to help countries deal with the coronavirus pandemic and mitigate its economic impact, Managing Director Kristalina Georgieva said on Monday.
Business News
Wall Street drops as oil traders cannot give away U.S. crude
Wall Street tumbled on Monday after U.S. crude futures turned negative for the first time ever, with traders forced to pay to unload crude as the May contract expired during a global economic slump unleashed by the coronavirus outbreak.
Trading Ideas
IBM Q1 earnings top expectations, but revenue resumes decline amid COVID-19
On Monday, IBM posted quarterly revenue slightly lower than expected, but topped profit targets as sales in its high-margin cloud computing business rose 19%. The company also withdrew its 2020 annual forecast. The Final Round panel discusses the details. …read more […]
Trading Ideas
IBM misses revenue estimates but cloud jumps; withdraws forecast
The company for several years has been focused on becoming a major player in the cloud services industry, acquiring Linux maker Red Hat and selling some legacy businesses. Revenue from the cloud business, previously headed by IBM’s new boss Arvind Krishna, rose 19% to $5.4 billion in the first quarter. Krishna took over the chief executive officer role from Ginni Rometty in April, while appointing former Bank of America Corp’s top technology executive Howard Boville as the new head of IBM’s cloud business. …read more […]
Trading Ideas
IBM misses revenue estimates but cloud jumps; withdraws forecast
International Business Machines Corp posted quarterly revenue slightly lower than Wall Street expected, but beat profit targets as sales in its high-margin cloud computing business rose 19%. The company for several years has been focused on becoming a major player in the cloud services industry, acquiring Linux maker Red Hat and selling some legacy businesses. Revenue from the cloud business, previously headed by IBM’s new boss Arvind Krishna, rose 19% to $5.4 billion in the first quarter. …read more […]
Business News
UAW, Detroit automakers in talks over safety rules to reopen U.S. plants
Detroit’s automakers and the United Auto Workers (UAW) union are in talks about safely restarting U.S. production halted by the coronavirus pandemic, but local union leaders said on Monday any workers who feel sick must be allowed to self quarantine without losing pay.
Trading Ideas
UAW, Detroit automakers in talks over safety rules to reopen U.S. plants
Detroit’s automakers and the United Auto Workers (UAW) union are in talks about safely restarting U.S. production halted by the coronavirus pandemic, but local union leaders said on Monday any workers who feel sick must be allowed to self quarantine without losing pay. The safety practices and sick leave policies the automakers and the UAW agree to would offer a template for auto suppliers and potentially other manufacturing industries. …read more […]
Trading Ideas
Netflix Q1 earnings preview: Netflix could see big bump in users amid coronavirus lockdowns
Yahoo Finance’s Dan Howley joins Seana Smith to break down earnings expectations for Netflix, ahead of the streaming giant reporting quarterly results Tuesday. …read more […]