Shares of Zoom fell 9% on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals.
Brokerage Credit Suisse downgraded Zoom Video Communications Inc’s stock to “underperform” from “neutral”. “While implied new customer growth may seem undemanding compared to recently disclosed 20x participant growth, we expect much of the recent surge will prove ephemeral, and/or comes from free users or education, which are very difficult to monetize,” Credit Suisse analysts wrote in a note. Last week, at least two U.S. state attorneys had sought information from Zoom following multiple reports that questioned its privacy and security. …read more […]
Uber Technologies Inc said on Monday its app will list job openings in the delivery, food production and grocery industry that can be accessed by its U.S. drivers who have been hit by a slump in ride-hailing demand due to the coronavirus.
Shares of Tenneco (TEN), a manufacturer of automotive products and solutions, are spiking over 16% in Monday’s pre-market trading. The move comes after hedge fund guru Carl Ichan disclosed acquiring over 3.48 million TEN shares on April 1.This is a volatile time for the stock. Shares plunged 21% on Friday after Tenneco withdrew its first-quarter and full-year guidance due to Covid-19 related uncertainty and suspended or reduced operations across several regions. In a press release, CEO Brian Kesseler commented: “The continuing near-term deterioration in demand in our end markets necessitates further difficult decisions.”As a result, JP Morgan’s Ryan Brinkman downgraded …read more […]
Arvind, known by his first name, headed the Big Blue’s fast-growing cloud business before his elevation as chief executive officer in late-January. As chief technology officer of Bank of America, Boville was responsible for building and running the second largest U.S. bank’s cloud services. IBM said in November it had created a financial services-specific cloud technology in collaboration with Bank of America. …read more […]
It’s a new week, and market watchers are bracing themselves for whatever comes their way. Ahead of the opening bell on Monday U.S. stock futures are up, some welcome news after stocks rounded out the week in the red. The uptick comes as Italy, Spain and New York report death rates are slowing, giving investors a sliver of hope that some headway is being made in the battle against COVID-19.For those feeling a sense of déjà vu, you’re not alone. Oanda’s senior market analyst for Asia Pacific, Jeffrey Halley, thinks the most recent bump might only be temporary, stating that …read more […]
Mexican cement company Cemex will suspend its operations in the country until at least April 30 in line with government guidelines aimed at stopping the spread of coronavirus, the firm said in a statement on Monday.
The head of Britain’s biggest telecoms firm BT said he would donate his salary to health workers for at least six months and award a pay rise to his frontline staff who are maintaining broadband networks during the COVID-19 shutdown.
U.S. stock index futures jumped nearly 4% on Monday after President Donald Trump expressed hope that the coronavirus health crisis was “leveling-off” in some of the hardest-hit U.S. states.
Drugmakers across the globe are rushing to develop a treatment or vaccine for the fast-spreading coronavirus that has killed over 68,400 people globally. There are currently no approved treatments for the disease. Initial focus will be to accelerate development of Vir’s investigational treatments, VIR-7831 and VIR-7832, the companies said. …read more […]
Even under a severe scenario, the bank will end the year with a strong liquidity position. …read more […]
(Bloomberg) — Jamie Dimon said the coronavirus pandemic will lead to a major economic downturn and stress mirroring the meltdown that nearly brought down the U.S. financial system in 2008.“At a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” the chief executive officer of JPMorgan Chase & Co. said Monday in his annual letter to shareholders. “Our bank cannot be immune to the effects of this kind of stress.”The 23-page letter, his shortest since 2008, came less than a week after Dimon told …read more […]
‘I am hoping that civility, humanity, empathy and the goal of improving America will break through. We have the resources to emerge from this crisis as a stronger country,’ writes Jamie Dimon in his annual letter. …read more […]
Fifteen (15) severely ill COVID-19 patients have been treated under an EIND; 7-day results from the first four patients are available and are very promising; 7-day results for the first 10 patients will be available […]
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