Speculative stocks that stand to benefit from social distancing during the coronavirus pandemic soared on Tuesday, lifted by a broad rebound market following Wall Street’s worst day in three decades.
Wall Street rebounded on Tuesday, following its steepest declines since the 1987 crash, as the Federal Reserve took more steps to boost liquidity in a market sapped by business and travel disruptions in the wake of the coronavirus pandemic.
(Bloomberg) — Blue Apron Holdings Inc.’s stock more than doubled this week as cities around the country are forcing restaurants to curtail operations and as panic-buying empties the shelves of the nation’s grocers.“With so many households practicing social distancing and remaining at home, getting fresh ingredients for at-home preparation holds appeal,” Bloomberg Intelligence senior analyst Jennifer Bartashus said.Shares of the meal kit delivery are up more than 50% for a second straight day, while Canadian peer Goodfood Market Corp. increased 44% over the two-day period. Food delivery services Waitr Holdings Inc.’s stock is up 141% since the start of the …read more […]
General Motors Co and Ford Motor Co said on Tuesday they each have had one employee, both working at U.S. engineering centers, test positive for coronavirus.
Daimler , which owns the Mercedes-Benz luxury car brand, on Tuesday said it will suspend most of its production in Europe for two weeks in an effort to contain the spread of the new coronavirus.
Rating agency Standard & Poor’s on Monday lowered its credit rating on the planemaker to ‘BBB’ from ‘A-‘ and now expects 2020 free cash flow in a range of negative $11 billion (9.1 billion pounds) to $12 billion, down from a prior estimate of positive $2 billion. Reuters reported last week that Boeing is set to draw down the full amount of a $13.8 billion loan, likely bringing its total debt to $41.1 billion. Boeing’s total debt nearly doubled to $27.3 billion in 2019, as it grappled with additional costs related to the 737 MAX grounding and compensated …read more […]
Boeing Co shares tumbled as much as 22% to a more-than-six-year low on Tuesday following a rating downgrade that reflected its worsening cash flow due to the extended grounding of its 737 MAX jet and the blow from the coronavirus pandemic.
British foreign minister Dominic Raab said on Tuesday the government was working with airlines to come up with the ways to support an industry badly hurt by travel restrictions put in place to combat a growing outbreak of coronavirus.
The U.S. Senate on Tuesday was weighing a multibillion-dollar emergency spending bill passed by the House of Representatives offering economic relief from the coronavirus pandemic as the Trump administration pressed for $850 billion more.
Global airlines need to up to $200 billion of government support to help them survive the coronavirus crisis, the International Air Transport Association said on Tuesday.
Wall Street’s main indexes slipped on Tuesday, a day after recording their biggest tumble since the crash of 1987, as efforts to contain the rapidly spreading coronavirus wreak havoc on the global economy.
Amazon.com Inc will only receive vital supplies at its U.S. and UK warehouses until April 5, its latest move to free up inventory space for medical and household goods in high demand as a result of the coronavirus outbreak.
Nouriel Roubini, a NYU Stern Professor of Economics, joins On The Move to discuss the impact that the coronavirus has had on markets and the Fed’s decision to open the commercial paper funding facility. …read more […]
Yahoo Finance’s Brian Cheung joins the On The Move panel to discuss the Federal Reserve’s decision to open up a commercial paper funding facility to help support companies amid the coronavirus impact. …read more […]
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
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