Year: 2020

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U.S. Stock Futures Rise After Rout; Bonds Steady: Markets Wrap

February 26, 2020 admin Comments Off on U.S. Stock Futures Rise After Rout; Bonds Steady: Markets Wrap

(Bloomberg) — U.S. equity futures rose and Treasuries steadied after a surge that took yields to record lows, while Asian shares opened lower after another rout on Wall Street. Futures on the S&P 500 Index edged up after a 3% slump in the gauge of U.S. shares brought its losses to 7.6% over the past four days. The 10-year U.S. Treasury yield remained below 1.40%. Fears of the coronavirus spreading through the world’s biggest economy spooked traders Tuesday, with the Centers for Disease Control and Prevention warning Americans to prepare for an outbreak. In Asia, the origin for the disease, …read more […]

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Disney's Big Secret Is Finally Out

February 26, 2020 admin Comments Off on Disney's Big Secret Is Finally Out

(Bloomberg Opinion) — What a day for the Walt Disney Co. to let out its biggest secret.Just as investors were engrossed by news updates on the worsening coronavirus and its convulsive effect on global financial markets, Disney delivered another jolt by announcing longtime CEO Bob Iger was stepping down. Huh? It was the last thing shareholders saw coming. The company’s choice wasn’t even who most people expected. Bob Chapek, the head of Disney’s theme parks business, is taking over, effective immediately. Iger will remain chairman through to the end of 2021.It’s the most significant change to happen to the entertainment …read more […]

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Revolve Closes 2019 With Strong Sales and Profits as Coronavirus Looms

February 26, 2020 admin Comments Off on Revolve Closes 2019 With Strong Sales and Profits as Coronavirus Looms

Revolve Group Inc. is finding Wall Street can be a tough crowd to satisfy. The Los Angeles-based e-commerce site reported its fourth-quarter earnings aftermarket Tuesday, highlighting nearly $601 million in sales for 2019, a 21 percent increase from its nearly $499 million haul the previous year. Its net income also rose 16 percent to roughly $36 million for the year. The numbers were buoyed by its strong showing in the fourth quarter, when the company drew in more active customers, and who also spent a little more. The company reeled in some 1.5 million active customers in the quarter, a …read more […]