U.S. companies have been battered by the fallout from the novel coronavirus outbreak as economic activity “contracted sharply and abruptly across all regions,” a report by the Federal Reserve released on Wednesday showed.
After the news broke that the Trump administration was ordering that the president’s name appear on stimulus checks, the question focused on whether the move would delay the checks actually being disbursed. …read more […]
The one company heading into the coronavirus outbreak in a bad position was Boeing (BA). The passenger airplane manufacturer was already dealing with 737 Max problems and now faces a global economic shutdown and greatly reduced air travel. The stock is down $200 from early 2020 highs, but too many questions still exist to buy the stock on weakness.Weakened CustomersDespite all of the problems with the 737 Max and questions of when the airline could finally delivery 100s of parked aircraft, Boeing still had nearly unlimited demand for airplanes due to global travel demand. The company started the year with …read more […]
Ryanair is steeling for an airline price war that it expects to win once coronavirus restrictions are lifted and passengers flock back to tourist destinations, Chief Executive Michael O’Leary told Reuters on Wednesday.
Automotive company Tesla saw a jump in shares after Goldman Sachs analyst gave the company a ‘buy’ rating in the midst of the coronavirus pandemic. Yahoo Finance’s Rick Newman discusses. …read more […]
The coronavirus pandemic should be Amazon’s moment to shine. Instead, Whole Foods has been overwhelmed. Amazon Prime subscribers, who pay $119 a year for free delivery, are having difficulty finding Whole Foods delivery windows, according to interviews with a dozen customers and numerous posts on social media. …read more […]
Amazon’s moves to reduce strain on its grocery businesses by putting new online shoppers on wait lists and switching more Whole Foods resources to filling orders, is unmasking limitations at the company that was expected to upend the supermarket industry.
(Bloomberg) — The Defense Department’s watchdog found no evidence that the Pentagon’s controversial decision to award a $10 billion cloud-computing contract to Microsoft Corp. was the result of interference from President Donald Trump, though it said its probe was limited by the White House.The 317-page report issued Wednesday by the inspector general’s office also found that giving the JEDI contract to a single company — Microsoft — rather than dividing it among competitors was “consistent with applicable acquisition standards.”While the Joint Enterprise Defense Infrastructure project was hotly disputed by rival technology companies from the start, the project gained broader attention …read more […]
Apple Inc on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company’s smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy.
Tech giant Apple has announced the new iPhone SE for $399 amid the coronavirus crisis. Yahoo Finance’s Tech Editor Dan Howley shares the details. …read more […]
The millions of bits of cellphone data tracked by analytics firm Unacast show the economic impact of the coronavirus spreading across the United States like a deep freeze – long-distance travel was hit early on, but eventually overall retail foot traffic slowed to a crawl, too.
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