U.S. stock index futures gained 1% on Tuesday on better-than-expected trade data from China and signs some economies were preparing to ease lockdowns, even as the first batch of earnings reports underlined the hit from the coronavirus outbreak.
Investors have been hoarding cash at a rate not seen since the immediate aftermath of the 9/11 attacks of 2001, BofA’s April fund manager survey showed, as the coronavirus roiled global financial markets.
French automaker Renault SA is ditching its main passenger car business in China following poor sales at the loss-making venture with Dongfeng Motor Group .
Oil and natural gas stock Chesapeake Energy (CHK) has announced that shareholders have now approved a reverse stock split, at a ratio of 1-for-200.With shares now trading at just $0.16, the reverse split is intended to increase the per share trading price to satisfy the $1 minimum bid price requirement for continued listing on the NYSE.As a result of the reverse stock split, 200 shares of CHK’s common stock will automatically combine into one share, and the number of shares of common stock outstanding will be accordingly reduced from roughly 1.96 billion to 9.78 million.The split will become effective at …read more […]
British clothing retailer Next hit a self-imposed daily limit within hours of re-opening its online business on Tuesday, indicating consumer demand during the coronavirus lockdown.
Barclays has halted new job cuts while the coronavirus crisis is ongoing, the bank said in an internal memo seen by Reuters on Tuesday.
JPMorgan Chase & Co’s quarterly profit slumped by more than two-thirds as the coronavirus pandemic and record low oil prices forced the largest U.S. bank to boost reserves to protect it from a wave of potential loan defaults.
The ten U.S. states coordinating plans separately from the White House to reopen businesses shut by the coronavirus are responsible for an outsized proportion of the U.S. economy.
To the annoyance of some shareholders, Discover Financial Services (NYSE:DFS) shares are down a considerable 30% in… …read more […]
Johnson & Johnson on Tuesday beat analysts’ estimates for first-quarter profit on higher sales of its cancer drugs and consumer products including Tylenol, while slashing its full-year forecast due to the coronavirus shutdowns.
Celebrations may be in order for Blue Apron Holdings, Inc. (NYSE:APRN) shareholders, with the analysts delivering a… …read more […]
Top news and what to watch in the markets on Tuesday, April 14, 2020. …read more […]
Toyota Motor Corp on Monday said it plans to restart limited production at vehicle plants in France and Poland from April 22 after closing them due to the coronavirus pandemic.
Exxon Mobil (XOM), the US’s largest oil producer, has now raised $9.5 billion in new debt by selling five different bonds with durations of five years to 31 years. In a sign of strong investor demand, XOM raised $9.5 billion instead of the $9 billion originally intended.Moreover, the company paid a lower price to borrow than it did in the $8.5 billion March deal. For instance, it now priced a 10.5-year bond worth $2 billion at a 185 basis-point premium to U.S. Treasuries with a 2.61% yield, whereas in March, Exxon sold $2 billion in debt with a 10-year duration …read more […]
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