Business News
Wall Street slides as investors brace for dour earnings
Wall Street’s main indexes slipped on Monday as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic.
Year: 2020
Business News
Dish Network cuts jobs, re-evaluates business in coronavirus fallout
Dish Network Corp has cut staff and is re-evaluating its business to cope better with the fallout from the coronavirus pandemic, the U.S. satellite TV provider told Reuters, without disclosing the number of employees laid off.
Trading Ideas
OPEC and allies finalize record oil production cut, withholds 9.7M barrels per day
Rapidan Energy Founder and President Bob McNally joins Yahoo Finance’s On The Move to discuss the agreement between OPEC and its allies to cut production by 9.7 million barrels per day. …read more […]
Trading Ideas
Why Goldman Sachs suddenly believes the coronavirus won't send the S&P 500 crashing another 25%
Goldman Sachs strategist David Kostin is feeling sunnier on a stock market still trying to come to grips with the coronavirus pandemic. …read more […]
Business News
Explainer: Big cuts in oil production from OPEC and others
Worldwide oil producers, led by OPEC, are expected to cut production by roughly 20 million barrels per day (bpd), roughly equal to 20% of global daily supply, through a combination of mandated cuts, production falls due to poor economics, and purchases into oil reserves.
Business News
Volkswagen offers cars for relief efforts in U.S. virus-hit regions
Germany’s Volkswagen AG said on Monday its U.S. dealers would provide cars for free delivery of essential supplies to people in need during the coronavirus crisis.
Business News
Aurora Cannabis falls on capital raise, reverse stock split
Aurora Cannabis Inc’s U.S.-listed shares fell nearly 14% in morning trade on Monday after the Canadian pot producer renewed an at-the-market offering under which it can raise as much as $350 million in equity capital.
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Aurora Cannabis falls on capital raise, reverse stock split
The company said its board also approved a reverse stock split of 1:12 to boost its share price above $1, the minimum required to maintain a listing on the New York Stock Exchange. Aurora’s U.S.-listed shares were last trading below 80 cents. Edmonton, Alberta-based Aurora said on Monday it had about C$205 million ($146.8 million) cash as of March 31, including all the money it raised under the original at-the-market offering announced in May 2019. …read more […]
Healthcare
CytoDyn (OTC: CYDY) So. California Patients Treated with Leronlimab for COVID-19 under Emergency IND: 4 Patients with Moderate Indications Removed from Oxygen; 3 Patients Discharged from Hospital; 1 Patient Scheduled for Discharge Today; 1 Patient with Severe Indications Discharged, for Total of 5 Patients Discharged
VANCOUVER, Washington, Apr 13, 2020 — More than 25 EINDs approved by FDA for leronlimab use in COVID-19 patients Phase 2 trial – As of last week, 12 patients enrolled from 2 sites; 3 more […]
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Ford Hints at Raising More Cash After Burning Through Billions
(Bloomberg) — Ford Motor Co. is considering additional financing actions as a global pandemic heaps more pressure onto earnings that already were slumping before the coronavirus forced plant and showroom closures around the globe.The carmaker said Monday it’s expecting to report a loss later this month and that it had roughly $30 billion in cash on its balance sheet as of April 9. The comments suggest the company has used about $8 billion since the end of last year, Joel Levington a Bloomberg Intelligence credit analyst, wrote in a report.Chief Executive Officer Jim Hackett already has suspended the dividend prized …read more […]
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Fear of an Impending Car-Price Collapse Grips Auto Industry
(Bloomberg) — The auto industry — already fretting lengthy factory shutdowns and depressed new-vehicle demand — is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.Used-vehicle auctions are for now virtually paralyzed, much like the rest of the economy. The grave concern market watchers have is that vehicles already are starting to pile up at places where buyers and sellers make and take bids on cars and trucks — and that this imbalance will last for months.If that fear is realized and prices plummet, it will be …read more […]
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U.S. virus cases reach 550K, President Trump retweets ‘Fire Fauci’ tweet
As the number of COVID-19 cases continues to rise, President Trump retweeted a threat to fire Dr. Anthony Fauci. Yahoo Finance’s Jessica Smith joins the On The Move panel to discuss. …read more […]
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Coronavirus PPP loans leave small firms confused, wary and rushing to secure cash to survive
Small businesses are scrambling to secure federal loans to survive the coronavirus fallout. Many have days to survive. Others are wary of the loans. …read more […]
Trading Ideas
Apple’s next iPhone could have iPad-like design
Apple is set to redesign its new iPhone, borrowing extensively from the latest iPads and 5G technology. Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Dan Howley discuss the details. …read more […]
Trading Ideas
Trump’s Oil Deal: The Inside Story of How a Price War Ended
(Bloomberg) — After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, it was the moment the 2020 oil price war finally ended.From Villahermosa, a city near Mexico’s largest crude terminal, Energy Minister Rocio Nahle raised her voice. “Your Royal Highness, Mexico has already agreed. And now I would like to ask you: ‘Do you agree with these terms?’”In Riyadh, Saudi Energy Minister Prince Abdulaziz bin Salman nearly chuckled as he looked at a wall of video feeds showing his counterparts around the world. “I go with the consensus. I agree,” he replied.At …read more […]