Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely rose 3% from a year earlier, slightly beating analysts’ forecasts as chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
Asian markets looked poised on Tuesday to attempt another day of gains after stocks rallied on signs of a slowdown in coronavirus-related deaths, as oil prices resumed their decline on doubts about a potential Saudi-Russian pact to cut output.
Samsung Electronics Co Ltd said on Tuesday its first-quarter operating profit likely rose 3% from a year earlier, slightly beating analysts’ forecasts as solid chip sales helped cushion the blow from the coronavirus pandemic on smartphones and TVs.
President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic.
Alaska’s congressional delegation warned U.S. Treasury Secretary Steven Mnuchin last week that many of its airlines, including its largest regional carrier, RavnAir Group, were on the verge of collapse, according to a letter seen by Reuters.
Streaming-device maker Roku Inc launched its Roku Channel in Britain on Tuesday, offering free access to more than 10,000 movies, TV episodes and documentaries at a time when the coronavirus is driving demand for stay-at-home entertainment. The Roku Channel, which is available using a Roku streaming player, Roku TV or pay-TV company Sky’s NOW TV device or Sky Q box, will show British series including “Homes Under the Hammer”, “Ultimate Force” and “Skins” and Hollywood hits like “Get Carter”, the company said. Rob Holmes, vice president of programming, said there was an opportunity to supplement subscription video-on-demand services …read more […]
(Bloomberg) — The world’s largest oil producers are pressing ahead with talks for an unprecedented deal to mitigate the devastating impact of the coronavirus crisis on their industry, even as their leaders exchange barbs. The challenge now is to nail down numbers everyone can live with.Ministers and diplomats will spend the next two days talking about who’s willing to cut production, and by how much. The most important contributions will come from oil’s trio of big powers: Saudi Arabia, Russia and the U.S.An effective deal will require all three to participate, but not every barrel cut will be the same. …read more […]
With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot’s owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned merger.
Coronavirus developments and Levi’s earnings will be front and center Tuesday. …read more […]
Editor’s Note: Did you catch Marc’s latest video update on Friday?
Marc is releasing regular State of the Market addresses in order to help his readers navigate the frantic news media and wild market swings that have resulted from COVID-19.
On Friday, he addressed some of readers’ most pressing questions – whether now is the time to invest in gold and how much protection it can really provide.
Click here to see his latest analysis.
– Mable Buchanan, Assistant Managing Editor
We all have that one friend who is a hot mess…
That friend who, when things are good, is the most interesting and fun …read more […]
Former Obama White House Health Adviser Dr. Zeke Emanuel warns there is a disconnect between the public health community and the markets. …read more […]
Allstate Corp , one of the largest U.S. auto insurers, said on Monday it would return more than $600 million in premiums to customers as many Americans drive less due to stay-at-home orders aimed at curbing the coronavirus outbreak.
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